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My CPO came with a complete inspection report showing the state of all wear items, they performed the 20k service, they replaced the floor mats and trunk liner, and they knew the previous owner personally so I even know how it was owned. My non-CPO Lexus was missing all floor mats, trunk liner and the nav sim card, and came with no explanation of the state of the wear items or any evidence a mechanic had gone over it, and all I had was the Carfax.
I'm not trying to defend its some great bargain - you pay for all that. But Lexus does do more after receiving a car they will sell as a CPO than a non-Lexus dealer does who just puts it out on the lot. I strongly suspect much of that has to do with the extended warranty, and Lexus would want to lower it's risk of future claims. Which is good for me.
And while it worked for you, its a YMMV product, by the number of "Bought CPO, dealer didnt tell me about XYZ or didnt provide me with ABC"
Originally Posted by Cocal
Yes & No, in as much as the CPO is the creme de la creme of used cars, only the best kept/maintained and lowest mileage will qualify for CPO and of course the additional warranty.
Not precisely. vehicles with accidents have been CPOed in the past. CPO vehicles are refurbed by the same techs who refurb used vehicles, and operate under similar dealer refurb budgets so they can maximize the end profit.
The bottom line is that I think a CPO has its value to those who see it as evidenced by the posters above, but just dont blindly give up your due diligence when purchasing a used from a used car lot even if that used car lot contains CPO and is run by the local Lexus dealership.
I consider myself to be a bit of a tightwad. I thus don't think much of the idea of buying a brand-new vehicle that is only going to quickly depreciate for the first couple of years.
So for me, the ideal situation is a slightly-used car with an excellent reliability reputation. The local Lexus dealer had a six-year-old RX450h that was absolutely immaculate down to the new-car smell, and they threw in a 2-year warranty. Couldn't resist, and the car is a delight to drive.
The nice thing about the warranty, though, is that I eventually found a couple of items needing replacement. First, the 12v battery showed its age, and they put in a new one (~$250). Then the rear hatch gas struts lost their motivation during cold weather, and they replaced those (~$100). But the big deal was the ABS brake unit, which began "seal barking" on brake application (a surprisingly-common issue) and which cost $2K+ to replace. But Lexus did that one, too, under the warranty.
So to summarize, I'm very happy with the car, the price was very reasonable, and I am glad I had the warranty.
The added cost for a RX being CPO is quite interesting.
I'm looking at a CPO 2017 RX350 FSport (~20k miles) myself (listed by Lexus dealer) and I had a non-Lexus dealer tell me he agreed with my statement of the CPO being overpriced. Meanwhile the Lexus internet department tells me the price is just right.
1. Lexus dealer lists CPO @ $46k online.
2. Carfax shows a retail value of ~$41k.
3. KBB has the average at ~$44k for CPO.
4. KBB has it at ~$41k if purchased from private party.
And to top is all off, the estimated trade-in is only $35k!
The difference in price! I can see why Lexus would rather push CPOs! Lexus is looking at making $5k-10k for this CPO along (minus pre-owned maintenance, inspection, etc. but costs should be minimal if they use in-house mechanics). I'm all about dealerships making money since they have to stay in business, but perhaps not this much off someone's hard earned cash.
I have two CPO vehicles. For me the added cost is just an insurance policy. The extra two years of full warranty, plus the four free services is really peace of mind. Ever check how much Lexus parts cost?
I have two CPO vehicles. For me the added cost is just an insurance policy. The extra two years of full warranty, plus the four free services is really peace of mind. Ever check how much Lexus parts cost?
Good point. Did you always pay the CPO window sticker or were you able to negotiate off the selling price? I guess this question is for anyone.
I'm currently torn between a CPO or new. Fully loaded 2017 CPO ~$46k window sticker versus a 2019 Premium ~$46k sell price after negotiations.
Good point. Did you always pay the CPO window sticker or were you able to negotiate off the selling price? I guess this question is for anyone.
I'm currently torn between a CPO or new. Fully loaded 2017 CPO ~$46k window sticker versus a 2019 Premium ~$46k sell price after negotiations.
Cheers
It depends on what you value the most. You have to compare like vehicles and options before you can determine what you want to go with. At the end of the day its a Lexus RX, which is mechanically for the most part a Toyota Highlander. Parts for the mechanical tidbits are going to cost similar money. The extra Lexus additions would be the interior components like the Remote touch system etc, those cost extra.
My personal advice to those in a similar predicament, is figure out if those options are something you cant live without, and what the difference would be into getting into a similar new vehicle (like to like). Compare the difference and decide.
Good point. Did you always pay the CPO window sticker or were you able to negotiate off the selling price? I guess this question is for anyone.
I'm currently torn between a CPO or new. Fully loaded 2017 CPO ~$46k window sticker versus a 2019 Premium ~$46k sell price after negotiations.
Cheers
I was only able to negotiate a little. After considerable haggling, I got what I consider a very good value for my trade-in. Additionally I got the obligatory mats and body side moldings. Other than that, Nada. I believe I could have done much better on a new vehicle, but got the many options that I wanted on the 2016 CPO RX. It had just about every option that is available with an MSRP of $59,499. Paid Just about $46 in early 2018.
It depends on what you value the most. You have to compare like vehicles and options before you can determine what you want to go with. At the end of the day its a Lexus RX, which is mechanically for the most part a Toyota Highlander. Parts for the mechanical tidbits are going to cost similar money. The extra Lexus additions would be the interior components like the Remote touch system etc, those cost extra.
My personal advice to those in a similar predicament, is figure out if those options are something you cant live without, and what the difference would be into getting into a similar new vehicle (like to like). Compare the difference and decide.
I was mistaken and coolsaber was correct about parts cost for Lexus. According to Clark Howard (a radio financial guru) Lexus is among the cheapest vehicles to maintain, and the RX350 has one of the lowest maintenance costs. Sooo repair parts should not be a factor in the CPO debate.
Purchased a 2016 certified f series 3 with 27000km for $51000 Cad taxes in with full warranty on everything until 2026 or 80,000km,whichever comes first.
Good point. Did you always pay the CPO window sticker or were you able to negotiate off the selling price? I guess this question is for anyone.
I'm currently torn between a CPO or new. Fully loaded 2017 CPO ~$46k window sticker versus a 2019 Premium ~$46k sell price after negotiations.
Cheers
a loaded rx 350 can reach 61k+ and a 450 you can get higher than that, 65k+ with add ons.
thats a ton of add ons, so compare some things you might want, to what the vehicles have.
rxtimes2 sounds like he got a good deal, 60k is getting full of options for sure. So vehicles like that are available
if you just compare year, model, then it's hard to do, because of the cost of the options if they factor in.
I was able to get 15% or so (? here somewhere) off mine new that was built for me. so good deals on new can be found as well.
Enjoy, what ever you decide on.
I have bought 2 CPO 2016 RX 350s now. first one was in April of 2018. It was a 2016 Executive package with 20,000 KM and 18 months in service. I had seen the RX 350s before, but the new ones with the options I wanted were more than I was willing to spend. We live on a gravel road and get a lot of snow and salt. We had been looking at cars on and off for a couple months and at a drive home from a family function we just decided to have a closer look since my wife had not been in one yet. Then the "local" (45 min away) dealer had a nice fully loaded low mileage for a decent price. No haggling on the RX, but the trade on on my 2014 Ford Explorer (190,000 km) was good, I had been shopping for long enough to get a couple values for it. I had it on winter tires with 18" aluminum wheels. Which they wanted with it when shopping it around to wholesalers. After I figured out the bolt pattern was the same on the RX and Explorer and with hub rings they would work I told them I wanted to keep the wheels and tires. New winter tires on aluminum wheels cost a minimum of $2000. My used ones were in good shape, probably worth $1200. I don't know if it was really worth that much to the dealer, but they didn't really like the idea and got service involved to figure out if the aftermarket wheels I was using would fit on the RX. Maybe they wanted to sell me a winter wheel and tire package in the fall...
Unfortunately on christmas eve (8 months after buying it and putting on 30,000km), someone ran a stop sign in front of me and the RX 350 was written off. So now I was in the car market again, but with a deadline. As soon as the insurance pays out, I would lose the rental car. This time we looked at some other cars again. We got the first RX because we drive it quite a bit (40,000km/year) and wanted something that would be reliable for a couple years and can drive to 200,000-300,000 km. (The Ford Explorer did not meet that criteria) The wrecked RX had 51,000km and we wanted to replace it with something with less KM and looked at really low mileage RXs, some dealer loaners, but those were beat up pretty bad in their short lives. A lot of used RXs have 4 curbed wheels! Knowing the RXs better this time around I knew what option packages would work. My wife also wanted F-Sport seats, but not in red. After lots of searching I determined that my local Lexus Dealer CPO offerings were more expensive than the average market and knowing what I know now, my original RX 350 deal was OK, but not great. Most used gen 4 RXs seem to be sold by Lexus dealers, very few at other brand dealers and most of the other used ones from used car lots have been in accidents or stolen before.
After searching all the used RX 350s in Ontario with the F-Sport 3 package (Fully loaded) I found the best deal 2 hour away at Performance Lexus in St Catherines, Ontario. Part of a large group that seems to own every brand dealership in that area. They had a good price on a 2016 CPO with 41,200 KM, no trade. I was able to pay for it completely using the insurance payout with enough left over to buy a new set of winter tires for the 20" rims that I still had from the first RX. I have since compared prices again and have found they have some of the more competitively priced CPO RXs, Not sure how they do on trade in values...
03-15-19, 07:29 PM
