sk72

Hey guys,

I heard from a sales rep yesterday that Lexus is havign a current promotion where ;

1. Current Lexus Owners financed through LFS wanting to trade-in will be receiving a $1000 rebate

2. The sales tax will also be reduced on the new car after deducting the value of the trade-in (EG New Car $40K - Trade-In $20K) * 6% sales Tax.

I got really interested once I heard about these promotion since I am in the verge of replacing my 06' ES330. Let me know what you guys think??

I really like the sales rep I am dealing with, he seems to be very pro-active and very professional.

Thanks

MD350

I can help you with #2. This is a new law that went into effect in Maryland on January 1. Sales tax on cars went up from 5% to 6%, but will now allow you to deduct trade value. So, no matter what you buy and where you buy and you are a Maryland resident, #2 applies.

As to #1, have not heard nor have I researched.

As to trading your car, from previous 330 owners I have heard the 350 is a disappointment. Others love it. I would take a long test drive before you take the plunge.

LexBob2

Does the new car have to be financed thru LFS too for the rebate? I thought I read that it does.

Not sure how their interest/finance rates are vs. other sources.

With the slow economy, it's a good time to buy a car if one is in the market.

sirCharles

another LFS ploy, such criminal stuff

jjbodean

why wouldnt you do it? finance it through lfs and then refi if you can get a better rate elsewhere. no penalty to do so.

wow, thats fairly criminal i tell you....

jjbodean

this promo has actually been ongoing for several months now. all you have to have done is financed or leased an ES through LFS in the past and be able to prove it. do not have to be currently with them to qualify.

Dave Mac

That is interesting about the sales tax - most states have just taxed the cash difference (sales price less trade-in) for over 50 years. The $1,000 rebate is nice though and I think you will llike the ES350.

Dave Mac

LexBob2

That's the way it's been done in IL for a long time.

LexBob2

Is there any way a cash buyer can qualify for the rebate?

codex57

There's no prepayment penalty. So, just finance it and turn around and pay it off the next day.

I know lots of people who do that. Dealers around here seem to negotiate more with people who finance through them (even tho dealers don't claim to make much from handling the financing). Might be cuz they think the customer doesn't have as much money. Anyways, people tell dealers they need to finance, get a nice deal, finance the car, then pay it off once they get all their paperwork. Typically done on more in demand cars than the ES though since around here, there's way more supply than demand on the ES so everyone can easily get a great deal.

MD350

There is lots of profit in the finance office when financing a deal. F&I hate cash deals. But, with some lenders, there is a charge back period and if the loan is paid off very quickly after the sale, the F&I department won't make a dime.

Lexus may not have a chargeback period. JJ would know more about that.

sk72

Thanks Guys!!! I feel I am not pressured now since the promotion is not really a promotion but something which is given almost all the time.

MD350 I agree with you about the disappointment, I feel the interior on a ES330 is very luxurious as compared to ES350. The only thing I like about the new car is the Exterior Look and the way it drives. I have also heard somewhere from this forum that the earlier LS460's dropped a lot in sale because customers get the same interior quality with the ES330.

Probbaly that's why they toned the interior down so much in the newer generation. I am sure a lot would disagree, but if you had owned a 06 ES330, you would agree with me that the quality Lexus emphasized in the interior is phenomenal.

I know I am going to loose that!!! hopefully not so soon since I might wait for the Dec to Rem sale event to pull my trigger!!! (I bought both my cars during the this sale event)

jgtile

Hey sk, I would be a little concerned if your sales rep said item #2 was a "promotion". PA also went to this law like MD and it is definitely not a promotion. As to the LFS, check rates all around because the $1000 may be just to cover their higher rate! I don't know about the ES330 but I do like my ES350 (of course I did have a Pontiac Bonneville before......). But definitely heed MD350's advice...drive all the cars out there! I drove the Lexus GS350 AWD, Acura RL, Infiniti M, BMW 5 Series, Cadillac CTS and STS, Buick Lucerne. I am not a Mercedes Benz guy (poor quality reports)..even though the new C class looks good (but is small). All had pros and cons! Ended up with ES350 UL!

jjbodean

lfs does have a chargeback period, typically 90 days from date of contract

350Dave

I do not agree that a couple of pieces of wood make the 330 more 'luxurious' than the 350. I like the styling of the 350 better inside and out. I guess if it means that much to you, maybe just keep your 330...