BellyBumpe

Hello all,

Long time viewer, first time poster. I been trying to negotiate with couple of dealers around the area (Minneapolis, MN). Need advice, what would be a fair price for a CPO 2010 ES? Here are my options :-

Option 1 - CPO 2010 ES with 30,000 miles. Heated/ventilated seats is the only option. Listed Price $29,500.

Option 2 - CPO 2010 ES with 37,500 miles. Heated/Ventilated seats, Navigation/Levinson sound Package, HID, Parking assist, Backup Camera. Listed price is $30,000

Option 3 - CPO 2010 ES with 37,200 miles. Heated/Ventilated seats, Navigation, HID, Back Up camera. Listed Price is $30,500

Option 4 - 2010 ES with 33,500 miles. Heated/Ventilated seats, Navigation, Back Up camera, HID, Parking Assist, Rear Sunblocker. Listed price is $28,000. This one being sold by a BMW dealer and is not CPO. Could I be able to buy an extended warranty from Lexus?

I have no idea what a fair price would be for these particular vehicles. But all of them are lease returns so the pre determined residual value at lease signing was about 60%.

Thanks all...

John U

Good grief...Do these things hold there value that well? I purchased a 2010 350 Ultra with 9,000 miles on it for $36K two years ago from a Mercedes dealer.
Here's one at Morries for $25,000
http://www.cars.com/go/search/detail...nal&listType=1

mspearl95

When I was looking before I made my purchase(about 1 month ago), our local Lexus dealer had 2 CPO 2010 es350s(lease returns), with both about 40,000 miles on them. They both had premium package, nav, non- ML, and they were both listed at a little under 29,000. They were both gone in less than a week. The prices you are listing seem pretty reasonable to me, based on what I was seeing, and I'm sure you could probably negotiate a little bit. Your 4th option(which sounds pretty good) should still have a bit of a factory warranty, but I'm not sure as to whether or not you can purchase an extended warranty. I'd definitely call Lexus and ask.

SW17LS

Its incredible isn't it? I bought my $42k list 2010 ES350 brand new for $36,500.

BellyBumpe

Thank you guys. I just feel something closer to 60% of the original MSRP would be a fair deal for a CPO 350. Thoughts ?

SW17LS

I don't think thats realistic given the market out there. These things are definitely selling up around high $20s-$30k.

jcat_350

Of the ones you listed, #2 is the best deal and a pretty fair price, albeit a bit high. If they're asking 30, you should try to get it for 27 or 28.

#4 would be the next choice IF you could get an extended warranty with the same coverages as the CPO cars for around the same cost. Usually, this would cost more than is worth it.

After that, I'd never pay any more than 26 or 27 for #1 or #3.

BellyBumpe

Thanks all. Just wanted to keep everyone posted with an update.

Talked to the Lexus dealer that is selling the first 3 vehicles, I made it clear that I am looking to finance about $11-12K (No more than that) and trade in the CLEAN 2008 4 door auto rabbit ( With about 55K) miles. Car has had perfect maintenance record and has new brakes / tires.

He has requested that I come in to go over the value of the trade in. NADA Guide shows private party resale value of about $13,000. I am hoping for $10-11K.

Let's see how this goes............

LexBob2

If you have a Car Max near you, swing by and find out what they'll give you for the Rabbit. Then you'll have something in hand to show the dealer if they come in real low. It only takes a half hour or so.

jcat_350

So you're basically telling the dealer that you want to buy a 30k car and pay no more than 23k for it?

Not going to happen. You won't get any of those 3 cars for much less than 26k, meaning you'd have to finance 15-16k.

BellyBumpe

Update : Took the potential trade in to the dealer, they are offering $9500.. I'm asking for $10k for the trade in and $12k financed.

We are trying to work out a deal for car 1.. Which is a pretty base 350 just just heated and ventilated seats.

SW17LS

I don't see you being successful. I'm sure $22k is below what they took that vehicle in on trade for.

jcat_350

I'm going to hopefully make this a bit easier for you to do moving forward:

You'll get 10k for your trade. They'll turn around and put it on the lot for 13 maybe 14, sell it for 12.

If they're asking 30k for the car they're selling, and it's certified with a passable value of 1500, you're looking at 28,500. Beyond that, they probably have at least 5k built in to the car meaning they likely own the car for no more than 23k. You won't get the car for less than they own it for AND with the CPO. If anything, they'll likely only go down to 25 or 26k. Probably 26k with CPO as that makes them 3k on the front end of that deal and then they can spiff up your car and throw it on the lot to make a quick 2-3k for a total of 5-6k on the whole deal, and two units off the lot.

If you do, by some stretch of the imagination, end up getting the car for less than 24k, I would not likely buy another car from that dealership any time soon, as it would indicate that they have such a ridiculous amount of padding built in that they're dead set on screwing every customer that walks through the door and doesn't know how to negotiate.

mtbiker78

I just picked up my 2010 ES 350 w/ Nav for $24,500 with 41k miles. Dealer was asking $26,995. It went through their certified program, brakes were all done and new tires. I opted not to take the CPO warranty and saved $1000, I still have 8000k on the factory bumper to bumper, I may purchase the extended warranty once the factory warranty expires.

From my experience, you'll get the best deal from a dealership that has A LOT of cars. My dealer had 18 ES 350's on their lot.

Also, I learned from the dealer that he has more "wiggle room" on a vehicle that's been traded in as opposed to one that's coming off of lease. Something good to know for next time!

mspearl95

can you purchase the extended warranty at a later date? the dealer told me no, but mb they were lying.