Why Is Used GS430 Markup So High?????
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Why Is Used GS430 Markup So High?????
So it turns out the GS 430 I was going to get was sold So I am looking for more of them. It just struck me to ask everyone what they paid (recently) for their GS', because around here in the DC area the markup is like $8k!!!!! Galves says the wholesale on a 2003 GS 430 w/ 60k miles is $16,000 (ML and Nav), but dealers are at least trying to sell them for $22k-24k? I could not imagine educated Lexus owners, as I am sure everyone is, would stand for that. So ultimately I am asking what are the GS 430's actually selling for or is price I am seeing a bait the big fish price? I was thinking $18K, which would give the dealer $1800 in profit. That should be "fair".
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I just went to go look at a 2004 GS 430 about an hour ago, and I was wondering the samething you are wondering.
The one I saw was...
2004
44k miles
every option.
Price $34,995
The one I saw was...
2004
44k miles
every option.
Price $34,995
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Kelly and NADA are useless
Kelly blue book and NADA values mean nothing. The wholesale is what all dealers pay at auction. Ebay will even show this, look for completed sales on GS430 and there will be nothing in the twenties unless it has extremely low mileage. They should not get more that 10% profit on a vehicle. Getting 50% markup on a used vehicle is criminal. That $34k b00b00s559 mentioned is a good example. I am looking at ordinary used car lots, Lexus dealers have more like a $10k markup. Lexus obviously makes nice cars and typically owners take really good care of them, there is nothing that these dealers have to do to recondition them.
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#9
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Kelly blue book and NADA values mean nothing. The wholesale is what all dealers pay at auction. Ebay will even show this, look for completed sales on GS430 and there will be nothing in the twenties unless it has extremely low mileage. They should not get more that 10% profit on a vehicle. Getting 50% markup on a used vehicle is criminal. That $34k b00b00s559 mentioned is a good example. I am looking at ordinary used car lots, Lexus dealers have more like a $10k markup. Lexus obviously makes nice cars and typically owners take really good care of them, there is nothing that these dealers have to do to recondition them.
my bit: you have to give a little to get a little. anything else is all about negotiating
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I was looking at an 03 before I purchased my 99. I'm a wholesaler and and 03 with 50K mark, and nav is going to sell for $19-20K! So that being said one for 22 or 23 is worth the money! GL finding another!
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Right
That was almost three years ago so that makes sense. I bet you paid ~$1800 over wholesale at the time. Except now I am looking at a 5-6 year old car and there is a new generation GS, yet they are asking in the mid twenties!
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