Is $17k a good price for a 2007 es350 65k miles with nav?
#16
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the color is listed as champagne on website, but i looked up lexus colors for 2007 es350 and they didnt have any champagne color listed. its either the golden almond or amber pearl. i think its the golden almond.
anyways they told me they were selling me the car at wholesale price![Confused](https://www.clublexus.com/forums/images/smilies/confused.gif)
thanks for eveyones advice and comments!
anyways they told me they were selling me the car at wholesale price
![Confused](https://www.clublexus.com/forums/images/smilies/confused.gif)
thanks for eveyones advice and comments!
This car wholesales probably around the 12K range and is worth only 14-16K, nav or no nav. Good luck
#18
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also what they are not telling you can hurt at times
They get a kick back from the finance company from the lender if heard back room stories from finance managers and workers in the past that a Lender could kick back anywhere from 500 to 5000 depending on the purchase price and the intrest rate
i know that one vehcile i purchase i knew the finance manger and he was able to take 1000 off the sale price due to that fact that that is what stantander lender kicks back to them on a 20% rate of a 9000 in intrest loan
They get a kick back from the finance company from the lender if heard back room stories from finance managers and workers in the past that a Lender could kick back anywhere from 500 to 5000 depending on the purchase price and the intrest rate
i know that one vehcile i purchase i knew the finance manger and he was able to take 1000 off the sale price due to that fact that that is what stantander lender kicks back to them on a 20% rate of a 9000 in intrest loan
#19
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wholesale price my *** i can walk onto any corner lot and buy a 80-100 k ES350 for tops 13999 here in fl with all the extras
no warranty nothing
its not that i don't think 17k is a fair price for an 07 ES350 that is CPO
i think its more about in my opinion
the unejoyable color
the higher milege not the year
now if it where 35k miles 17 i would pay if it was not the color
in Feb i had no problem paying 17999 for my 07 because it was what i wanted its not easy in the used car market to find the exact color combinations and exact options that you want with the miles you want to be around
so the time to buy is the time you see
however for that car at 17k i think if it was 17k flat thats what id go with tops not paying extra for a 700 doc fee or anyting like that
no warranty nothing
its not that i don't think 17k is a fair price for an 07 ES350 that is CPO
i think its more about in my opinion
the unejoyable color
the higher milege not the year
now if it where 35k miles 17 i would pay if it was not the color
in Feb i had no problem paying 17999 for my 07 because it was what i wanted its not easy in the used car market to find the exact color combinations and exact options that you want with the miles you want to be around
so the time to buy is the time you see
however for that car at 17k i think if it was 17k flat thats what id go with tops not paying extra for a 700 doc fee or anyting like that
#20
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It's called a finance reserve. All dealers are authorized to sell a vehicle at a higher interest rate than what the actual buy rate is from the lender. Most reputable dealers will limit that reserve to a max of 3% over the buy rate. Then again, there are some shady ones out there (not necessarily franchise dealers) that will take more if they can get away with it. Everything at a dealership has some type of markup and that should not come as a surprise to anyone. Parts, service, finance charges, life and accident ins, extended warranties, etc, etc, etc.
im not saying things shouldn't have a markup but the markup they charge sometimes is ridiculous
like a markup on the finance rate ? or a kickback on it
they are already making money on the car
so i don't agree with the markup reserve
You notice how when you are working with sale rep associate after they get you into the car to drive it and they get you hooked on the part about buying it
then they come back with what your price will cost you and if you are ok with that then they send you off to finance to take care of papper work
how ever if you have trouble with the price and don't like it they then start to bargain and say well we can take another 500 of or so
just saying that this is how it works when ever i buy a car
sometimes the sales associate are able to cut there commision if they really want to bush a car to hit there sales at the end of the month
or sometimes they just have permission to take specific amount and negotiate with
But once they hit the threshold on what they are able to or willing to take off then they go back and come back with a finance manager who
can then help out more
they might say what if we pay half the Doc fees or what about we pay half the Registration or we take care of your plates for you so there is no COD when the plates come in
or they come back with the Your lucky day line we where able to try one more lender that was bidding on your loan and came back with a lower interest rate
you also sometimes 80% of the time will notice
They won't tell you the name of the lender untill the last possible moment why ? because they don't want you to know who approved you so that if your not happy with there deal then you can go somewhere els and say try this lender they approved me already i just chose not to buy there
#21
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There are different pay structures within all dealerships. Most dealerships pay their finance managers a percentage of all profits they make on extended warranties, life and accidental death, finance reserve, etc. most salespeople are paid a percentage between selling price and invoice. Most sales managers and GSM's are paid on the difference between invoice minus holdback and the selling price. Most GM's are paid a percentage on all of it! Every manager also gets a sliding scale percentage of the dealerships overall gross profit, albeit a very small %.
Anyone paying 20% on an auto loan either has terrible credit or is so naive they need to go through one of the buying services out there.
The smart buyers will get themselves pre approved for a loan before they even go shopping for a car. The smart buyers will find out what wholesale book price is on a used car or invoice and holdbacks on new vehicles before they leave the comfort of their home. The smart buyers will know what incentives are out there, both factory to customer and factory to dealer, before shopping. The smart buyer will know exactly how much they are willing to pay for a particular vehicle before even stepping on a dealers lot. Anyone that pays too much for a vehicle or too high of an interest rate wasn't properly prepared to shop. It's about as easy as that! Buyer beware.
Last edited by lgb0250; 11-16-13 at 01:42 PM.
#22
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Ditto lgb2050. When I traded my 2007 for our current 2011, I did the homework and new what a fair / good deal was before going in, researching the information and being pre-approved via letter by Toyota Credit. The initial offer for the difference between our car and the 2011 was $5,000 higher than my calculations. After me and my wife getting up and ready to leave the office of our salesman did they give us the deal we had researched. But a $5,000 drop reduction from the initial offer. I did add on the extended warranty, after rejecting the initial offer of $1900 and getting it for $1200, the price found on this website. It was a mine field of offers, from the wheel / tire protection package (no!) to the special finish protectant (again no!).
#23
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The smart buyers will get themselves pre approved for a loan before they even go shopping for a car. The smart buyers will find out what wholesale book price is on a used car or invoice and holdbacks on new vehicles before they leave the comfort of their home. The smart buyers will know what incentives are out there, both factory to customer and factory to dealer, before shopping. The smart buyer will know exactly how much they are willing to pay for a particular vehicle before even stepping on a dealers lot. Anyone that pays too much for a vehicle or too high of an interest rate wasn't properly prepared to shop. It's about as easy as that! Buyer beware.
i don't full disagree with what your saying but im one who looks out for the other when i can
i know because im a smart buyer i know what im gonig in for i know what im comming out with or without
Id never pay more then 15% myself on any loan
if you really want low you better be buying brand new cause we all know the newer the vehicle the lower the interest rate will be unless you go to a fly by nite lender or bad credit lender but even then it is kind of the same deal
Some lenders for people with bad credit like my brother
they won't even allow him to buy a 2011 or newer because they won't get the interest rate they want to make off him at-least this is with 2 banks he tried with but they approved him for a bigger loan with a higher rate for a older vehicle
I go in with family and friends when they go to buy new cars they always ask me to come because i know how to deal and what the deal is
a few times the sales managers and finance mangers have asked the one i go in with
who is buying the car like they are going to take there word over mind no
i was with my uncle once about 5 years back in SF he was purchasing a 2005 Cadillac STS
so when we where sitting at the sales reps desk going over numbers i hair this sales rep at the desk next to us tottaly BS.ing this young man and his mother about the vehicle they where buying
First he was trying to push them around saying if we send this out to many times to find more lenders at lower rates it will go on your credit record and make it look worst for you
then i heard him say we really can't take more than a few hundred off but we can put some new tires on the car at a great rate 800 dollars
i was like OMFG i know tires are high but wow
then he said we also recommend all these little things here and there i got so tired of the B.S i told my Uncle hold on to the deal i got him
i walked up to this mother and talked to her and then there sales rep came back already and excited to take care of the deal they verbally agreed to
I asked her if she minded me looking over the dealer she was like yeah sure happy to let someone help her
i looked saw they where charging her 800 dollar for 4 uniroyal tiger paw tires that i could walk into NTB and buy for 70 % each
charging her 3000 for a warranty that was only good for 2 years 24k
14000 for a 2003 PT Cruiser had like 70k on it back in 2008
the rear passanger door window regulated didn't work and they where charging her to fix that other wise the warranty wouldn't be approve
and she was getting a rate of 17% i asked how her credit was she said pore im like ok 17% not bad for pore credit
this sales rep handling her case was pissed because he thought he was getting over on someone and gona make a big profit i ended up saving her a total of 4700 dollars on that deal
like i said i love to help
and sometimes help is needed and yuo can nott always blame on buyer beware
#24
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Well, sure you can! This is a prime example of an individual going to a dealership and not being prepared. In this day and age there is no excuse for not being knowledgeable about buying an auto. Even for those that don't have internet service they can go to any public library and find someone that will help them get online and search for threads on "auto buying tactics". A quick google search shows tons of threads on the subject.
#25
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Many a doctor goes in, gets a price on a LS460 and says okay. Brother of doctor lives next door and told me that's what happens to his brother. LS460L AWD plus a RX450h.
#26
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How true it is. Seen it many times. All it really shows is they have way too much disposable income! They've got the ability to do the research but it's just not that important to them. To some people there are just more important things than playing games with a dealer.
#27
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made a last offer were $500 apart and they wont come down anymore, so ill keep looking.
one thought i had was, im not going to keep this car past the cpo warranty, so would a 11 year lexus with 100k miles be hard to sell? or would i have to trade it in and take a beating from the dealer?
one thought i had was, im not going to keep this car past the cpo warranty, so would a 11 year lexus with 100k miles be hard to sell? or would i have to trade it in and take a beating from the dealer?
#28
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made a last offer were $500 apart and they wont come down anymore, so ill keep looking.
one thought i had was, im not going to keep this car past the cpo warranty, so would a 11 year lexus with 100k miles be hard to sell? or would i have to trade it in and take a beating from the dealer?
one thought i had was, im not going to keep this car past the cpo warranty, so would a 11 year lexus with 100k miles be hard to sell? or would i have to trade it in and take a beating from the dealer?
In NV your sales tax basis has to include the doc fees also. So you're basically paying very close to $19K all said and done. That means you're going to have a vehicle that is completely out of warranty within 35K miles or three years, whichever comes first! So that means you are probably paying close to a minimum of $13K, not including interest on any loan, in order to drive a vehicle that you don't like the color of, for 3 yrs! That's basically costing you $360 a month and that doesn't even take into consideration any loan payment you are making on the auto!
Not a very good investment IMO but then again, it's not my money.
#30
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Good luck