Please Help With Car Buying Decision - Used 2017 or New 2021 Lexus???
10-23-20, 09:12 AM
#167
Lexus Fanatic
I come across this all the time, people who think they are in a negotiating position they aren't, and no amount of data will prove to them that their expectations are not realistic. Usually it takes many many times losing out on things they want to finally beat into their head that they aren't right.
"How did you arrive at that number?" is a powerful question because they have no response, because there is no rationale to it and it lays them bare.
I have a colleague that had tried to help a guy buy a house for 2 years and got to the point where he really just couldnt deal with constantly telling him what he needed to do to win and him never listening and constantly losing, so he referred him to me about 6 weeks ago. He closed on his new house last week. I didnt do anything magical, it just took losing 15 houses and 2 years of spending every weekend looking at houses just to be completely blown out of the water every offer and then being fired by his agent and me being able to say look, you do what I tell you to do or I'm going to fire you too and he finally did whatever we told him to do...and he won. He only paid $100,000 more than he would have 2 years ago for the same house, but he did get a much better rate, so I suppose its kinda a wash...that 2 years of looking and stress though, you don't get that back.
Typically it actually goes back to people not actually being ready to make a purchase and aren't serious, so they set criteria up for themselves that deep down they know aren't realistic and say "if I can get this deal I'll do it" knowing thats really unlikely. The difference between me and my colleague is I wouldn't have done that 15 times. Two offers you don't listen to me, you're fired.
Point is, the data shows $27,500 for the new to you IS and $2k trade for the old ES is a good deal, buy it and move on. Makes no sense to continue to drag it out looking for a deal that data shows is extremely unlikely or impossible to achieve.
"How did you arrive at that number?" is a powerful question because they have no response, because there is no rationale to it and it lays them bare.
I have a colleague that had tried to help a guy buy a house for 2 years and got to the point where he really just couldnt deal with constantly telling him what he needed to do to win and him never listening and constantly losing, so he referred him to me about 6 weeks ago. He closed on his new house last week. I didnt do anything magical, it just took losing 15 houses and 2 years of spending every weekend looking at houses just to be completely blown out of the water every offer and then being fired by his agent and me being able to say look, you do what I tell you to do or I'm going to fire you too and he finally did whatever we told him to do...and he won. He only paid $100,000 more than he would have 2 years ago for the same house, but he did get a much better rate, so I suppose its kinda a wash...that 2 years of looking and stress though, you don't get that back.
Typically it actually goes back to people not actually being ready to make a purchase and aren't serious, so they set criteria up for themselves that deep down they know aren't realistic and say "if I can get this deal I'll do it" knowing thats really unlikely. The difference between me and my colleague is I wouldn't have done that 15 times. Two offers you don't listen to me, you're fired.
Point is, the data shows $27,500 for the new to you IS and $2k trade for the old ES is a good deal, buy it and move on. Makes no sense to continue to drag it out looking for a deal that data shows is extremely unlikely or impossible to achieve.
Last edited by SW17LS; 10-23-20 at 09:33 AM.
10-23-20, 09:36 AM
#168
Lead Lap
So a couple of observations.
-The used market price spike has reached its max about the end of Sep. Recent trends suggest its normalizing and some dealers are left holding the bag. Region specific of our course.
-Sending it to auction depends on how much they've sunk into it, and how much they need to spend on auction costs. Presently guesstimating their $500 below so there is maybe (huge maybe) another 500-1k in it before its time for the auction.
couple of suggestions:
-if your interested in pure numbers game, where your time is not a huge cost for you and have a second car, research selling your current ES private party or carvanamax etc to reign in the highest possible value before values normalize.
-Then when used car values do normalize jump in for another car.
While I understand your in the market for an IS, I`d take a look at some of the remaining 2020 ESes, they seem to have heavy discounts for lack of demand. 2021 IS is going to be MSRP for a bit.
-The used market price spike has reached its max about the end of Sep. Recent trends suggest its normalizing and some dealers are left holding the bag. Region specific of our course.
-Sending it to auction depends on how much they've sunk into it, and how much they need to spend on auction costs. Presently guesstimating their $500 below so there is maybe (huge maybe) another 500-1k in it before its time for the auction.
couple of suggestions:
-if your interested in pure numbers game, where your time is not a huge cost for you and have a second car, research selling your current ES private party or carvanamax etc to reign in the highest possible value before values normalize.
-Then when used car values do normalize jump in for another car.
While I understand your in the market for an IS, I`d take a look at some of the remaining 2020 ESes, they seem to have heavy discounts for lack of demand. 2021 IS is going to be MSRP for a bit.
Last edited by coolsaber; 10-23-20 at 04:30 PM.
10-23-20, 09:41 AM
#169
Lexus Fanatic
Carmax is great and they will overpay because they can overcharge. They also have a nationwide network so they can sell it where its most profitable and aren't tied to one area like another dealer. BUT, in order for that to work it has to be a car they will sell, they won't sell a car that old and high mileage,
10-23-20, 09:46 AM
#170
Lead Lap
The issue is its so old that Carvana and Carmax etc aren't going to sell it, they're going to send it to auction so they'll give you $500-$1,000 less than the MMR and then sell it at auction and make some quick bucks. If the MMR is $2,200, you're not going to get more than the $2,000 he's been offered from them.
Carmax is great and they will overpay because they can overcharge. They also have a nationwide network so they can sell it where its most profitable and aren't tied to one area like another dealer. BUT, in order for that to work it has to be a car they will sell, they won't sell a car that old and high mileage,
Carmax is great and they will overpay because they can overcharge. They also have a nationwide network so they can sell it where its most profitable and aren't tied to one area like another dealer. BUT, in order for that to work it has to be a car they will sell, they won't sell a car that old and high mileage,
