irobot2090

Hello Everyone,
I'm a new member of Lexus family and about to bring one home very soon. I have a few questions to ask and would like to get some tips.

I got a quote from 2 dealers in NorCal for the New 2020 Lexus ES 350 F Sport (White/Black)

Dealer A: $ MSRP Retail: $52.675
Selling Price: $47.849
Government Fee: $631
Pro/Doc Fee: $85
Add-ons: $715.77 (not sure what's this fee for)
Total Taxes: $3715
Amount Financed: $52.280 (Is this total Out of the door?)

Dealer B: MSRP Retail: $50.615 (Dealer didn't break down, so I'm not sure if this is already included all the taxes and fee?)

Do you guys think I can still negotiate? I wasn't sure if this is what people paid, I read some people says I can negotiate for 15-20% off of the MSRP price.
What did you guys usually paid for the f sport package?

Another thing I don't understand is the Incentives or Lexus rebates. Dealer told me I can either take the discount $2500 or use 0.9% for 60 month.

Can anyone help me explain? Sorry guys I am new to this, never buy a new car before so I am so confused.
Thanks

EastTNLex

So that you are comparing Apples to Apples, make sure you are getting the Out the Door price...that's the total amount of what you are paying when you walk out the door with the keys to the car. Realistically you should be able to get at least 12-15% off the MSRP, then add the taxes/fees...you may be able to negotiate even a little better, if not then walk.

Most car makers only allow for you to take the $$ rebate or to take the special financing rate...usually you can't do both. So, you either take the rebate of $2500 or you take the special APR rate of 0.9%...plenty of online auto loan calculators to help you decide which is the best deal for you.

LeeSoFL

Either one big option, or a few less expensive ones are missing. Are the options that make up the $2K difference important to you? Can you specify what difference in features the two cars have?

TangoBravo

Hey irobot2090. I’m also in the NorCal area, and it’s my first time buying a new car too. I started this process back in late January (long story where factory order fell through) and have dealt with 5 different dealerships now (3 intensely). If you want $5k off the top with no hassle, you can sign up for Costco’s auto buying program. They referred me to Magnussen Lexus of Fremont. You then can get another $2.5k off from rebate for a total of $7.5k off MSRP, but you have to use financing other than Lexus’. I myself found a better deal than $7.5k off without having to use the Costco auto buying program. It involved e-mail haggling with a dealership 91 miles north of where I live (Lexus of Roseville). Got them to give me 18.7% ($9,775) off MSRP including the $2.5k rebate. That’s before TT&L and fees. The non government fees like doc fee and electronic registration fees, etc you should also try and haggle down. The CA DMV website can tell you if fees are required, as well as what is the max allowed for those fees.

TDMR

irobot2090 - I would hold off on that price and keep shopping. Your deal is within a few $$ of what I got Pre-COVID and the deals being given now are huge. You should be $47k out the door at a minimum and if you hold your ground, even less. Do not give in. The deals are out there. If I would have waited a week I could have saved an $2,500 off the deal I got.

hlu

Exciting to get a new car is buyer’s weakness. Offer the price you feel comfortable and walk away.

coolsaber

Just to add on, as new car buyer dont let your emotions get over your eye for numbers.

1) Both dealers need to provide you a Out the door price sheet. Compare everything in those lines to make sure your discount if greater is after all Dealer Markups and fees.

2) Find all incentives that are applicable to you. Note their exceptions such as Cash or APR. You cannot double dip

3)Always find out through your preferred lending institution about market loan rates and terms. You may have a better offer outside of Lexus Financial Services.

4) Calculate how much your total loan amount is with and without Lexus backed loans. Dont ask the dealer, as their math tends to be fuzzy (shoutout to the good ones though).

irobot2090

Thanks everyone, very good and a lot of great info and tips.
I will look into more and see if I can find a good deal. First time buyer! lol

irobot2090

I don't know what's the difference between the two, i thought they're the same as a F Sport package? I just thought one dealer gave me a good deal and other one just didn't give me much discount.

irobot2090

I looked into the one in Roseville but they don't have any F sport package in stock, so I only have 2 options. One in Concord and other one in Sacramento. I didn't know you can get that much off if MSRP. When you try to negotiate with them, what did you tell them? mind share some info? I'm not good at negotiate and don't know how to start. lol

irobot2090

I thought Lexus already have a good deal now as APR is very low as 0.9%. I'm thinking to take the .9% APR for 60 months and make down payment around 5-10K
I checked Bank of America and their loan rate around 2.75%.

LeeSoFL

Not if you're saying one had an MSRP that was $2000 more than the other.

coolsaber

F sport this Luxury package that is all terms that have no meaning for a buyer.

Tell them you need 2 things from them...

1) Build Sheet. These are factory provided and list in as plain terms as possible exactly what each car has from factory included standard features, optional extras, accessories, and delivery fee. It should state exactly the VIN number (important later) and the color, model code all the technical details you can desire to know.

2) Picture or statement of current odometer reading.

Take both things and compare them line by line. See what $2000 difference exists. Your out the door quote, should have the VIN number and current odometer reading listed to verify the quote actually is for the car in question.

coolsaber

So all I got was you didnt calculate the numbers. As a first time buyer you`ll get tons assumptions thrown your way via many sources, but you need to calculate those numbers as they dont assume.

Heres something to showcase what I mean. Different vehicle but similar concept applies.

tike71

Plug the VIN into this website and you can see what your vehicle is equipped with. You can usually find the VIN on the dealer's website

https://drivers.lexus.com/lexusdrive.../vehicle-specs