Chpsk8

So found a GS300 that I like, but it's about $2k out of my comfort zone.
It's a 2002 Sport Edition with 37k on it. It's CPO at a Lexus dealer. Black on black with no nav, and very clean. I checked the service records and they looked very clean. The are asking $28.9 for it.

Currently I have a lease that I have three $270 payments left on. As we were discussing the warranty and other things the sales guy told me that they would make the remaining payments on my lease. I had not even asked for it, so right there he's nocking about $900 off the price. Ok, but the car is still $2k out for me. Keep in mind he never really asked about price or how much I wanted to spend. He also told me there is a set of snow tires in the back for that car.
After getting some additional info I walked out and told him I'd call him Monday.

The asking price is typical for a CPO in MN. This car was bought new at that dealer, and then traded in on a different Lexus at that dealer. Do you think there is any more room to move the money on this car? CPO is big for me, since I plan to drive it quite a bit. I also think that in MN since winter is coming, there probably aren't a lot of people that want a rear wheel drive, so maybe GS sales slip in the winter.

Has anyone had any luck negotiating used CPO's at Lexus dealerships? I was thinking of offering 27k for it and see if they bite.

braheem

iTrader: (4)

on a used car all day long, I brought a lexus dealer in houston down 5K on a 2002 sc430 about a year and a half ago to $40K.

merlin70

depends on the dealer and how badly they want to get rid of it. They will come down a little most likely. Then again when I was shopping for a 430 this year a dealer here would only come down $1k on a car that was sitting for sale on their lot for 6 months. I didn't go for it and I just noticed it is still there as of two weeks ago, same price and it has now been 9 months.

BTW I bought a 2001 GS300 a little over a year ago, only 23k miles for $24k. Private party though.

Personally, Lexus has such a long standard warranty that CPO isn't worth as much with them. I mean, you already have a 70k powertrian warranty standard.

Try to bargain down if you want this particular one but be prepared to walk if they don't go for your price.

malcolmz3o

It depends on what they paid and how much profit they're willing to forego. I assume you've already kbb'd the car. If not you should. I talked down my CPO blk/blk 430 with ML/Nav $4K a year ago, which was before the relative glut of 2nd gen trade ins. It was priced ~halfway between pp and retail bb to start with too. You should be able to do better, imo...

TexasGS

The best thing to do is check KBB for the trade in value. Tack on about 1 or 2K and offer them that. The price they have it listed for, they are making 3 or 4K at least. I know they do value the CPO at about $1800 and is a point of negotiation. Good luck.

Ice350

iTrader: (1)

To have any hope of getting them to go down more, do your negotiating at the end of the month. If they haven't reached their monthly sales goals, they always bend more to sell a few more. Also end of the quarter and end of the year sales could help too.

AustinGS4

Great advice from TexasGS and reggiek. I completely agree with both of them and the fact that the sales guy was already dealing before you even asked for it leads me to believe that you still have some negotiating room. I went for a GS400 with 80k already on it because I knew that I would be putting 20k a year on it and the warranty was worth nothing. Be ready to walk. The great thing about this model is that they made a lot more than one of them. If this deal falls through, there's another gorgeous GS right around the corner.

Patsfan

I bought my 02 GS300 Sport Design , 29k miles in June for $27k flat, CPO.....the stick was $29500 and I got them down to 27.
The car is in very good condition in and out, no previous problems, it does not have nav, levinson or a spoiler.

I would get them down to 27 @ least.

Chpsk8

Thanks guys. I think I should try and push this one a little and see what I get. The sales guy I'm working with just started last week, so I'm thinking he'll be hungry for a sale.

I checked out three of my favorite websites for values and here how it looks...
All Dealer Retail with the same options checked.

KBB = $30,920
NADAguides = $27,725
Edmunds = $27,885 and CPO is $30,724

As I said earlier they are asking $28,900. They are also offering to pay off three of my lease payments and throw in some snow tires.

I'll call them tomorrow and see what I can do over the phone. I'd like to be in this one for $27k, or even a little better. It's a clean car, but it needs a headlight replaced (moisture...warranty) and it has a couple rock chips. Other than that it's pretty nice.

I'm glad to see others have had good luck negotiating, gives me some faith I'll get somewhere.

bitkahuna

iTrader: (20)

With the lease payments and tires you're already looking at a discount of about $1500 or so, so that brings it down to 27,500. Are you expecting to pay $27K and get the $1500 in 'incentives'? If so, your handle 'cheap skate' is right on.

Good luck though!

Chpsk8

Yup, thats exactly what my offer is going to be. If I get it, well then it will be great deal. My thought is that they will meet me in the middle.

Chpsk8

Ok, went back and did the same thing using TRADE IN as suggested.. (didn't sink in the first time sorry)

Using Trade In Values…
Asking 28,900.00 28,900.00 28,900.00
KBB 24,225.00
NADA 24,000.00
Edmunds 22,987.00
Profit 4,675.00 4,900.00 5,913.00

Giving me…
Lease 850.00 850.00 850.00
Tires 600.00 600.00 600.00
Total 1,450.00 1,450.00 1,450.00

They end up with...
Profit 3,225.00 3,450.00 4,463.00

Looks like even after paying off my lease and handing over a set of snows there is probably some room to move. I think it may help that my sales guy is new to Lexus (16 yrs with VW) and will need a sale. Also, I'm not afraid to walk away. Even though GS's around here are pretty scarce. It's only a car... its only a car... its only a car...

AustinGS4

So how's it going? Did you buy, walk away or take a break for confidence building? By the way, my wife keeps repeating the same words to me.