DaveAMass

I folks.

My wife has always wanted a Lexus. We are finally in a financial position to be able to afford it.

We have about 46k budgeted. Looking to get a 2013 GS.

When buying a used car, does the warranty carry over?

Any other thoughts?

Thanks.

Dave

ItzFilyO

With 46k u might be able to buy a brand new 2014, especially when the 2015 is coming out in a few months. Those 2014's gotta go for cheap.

DaveAMass

Well we are in New England so really want AWD. My wife is a wimp, too, so heated seats and some other goodies would make the cost of a new car out of price range.

At this point I'm trying to decide if I want certified or non-certified preowned.

I found a few low milesage for both certified and non-certified and the difference seems to be a few thousand dollars. Is the certified worth it?

SW17LS

I mean...I bet you can get a 2014 AWD w/heated seats (they all have heated seats, its the premium package) that stickers for $54k for $46k...

I would absolutely not pay $46k for a used 2013 GS...

ItzFilyO

Especially once the 2015's are out. These cars aren't selling like Camrys and Corollas, so they'll have plenty leftovers on the dealer lot. I think some dealers still have brand new 2013's leftover.

Yea with the basic premium package u still get everything like heated/vented seats, memory seat, navi, rear power shade, power folding mirrors, backup cam, parking sensors, power everything like mine.

yardie876

The good thing with certified is you can get the dealer to fix a good number of blemishes the car had from the previous owner, the ones the dealership hasn't taken care of already anyways. CPO certification generally costs ~$1000. I originally thought I bought CPO but turned out I didn't. I haven't had any problems whatsoever so I'm fine with it now. You can find some pretty decent $40k and '14s for lower $40k.

DaveAMass

Well I wouldn't pay $46k but when I roll in the taxes and the $3000 hit we will take on our trade, I'm looking at paying $40 or $41k. I would certainly prefer new so I'll look into it, but I don't think it's too realistic. I'm figuring a $6k hit for taxes and negative equity.

Anyway, here are the two I'm currently eye balling:

http://www.mcgeetoyota.com/used/Lexu...88cd790415.htm

http://www.lexusofnorthborough.com/V...-MA/2271694713

I wouldn't pay the $45k asking price for the second one but maybe I can get them down.

bigblack06

iTrader: (20)

I agree def look lower than 46K I think high 30's should be reasonable for a 13' GS.

SW17LS

Well thats an entirely different situation...FWIW...I would never buy a car and roll negative equity into it from another car. In that situation unless you keep the new car until its paid for (which seems unlikely since you have neg equity from another car) you're always going to have this negative equity going from one car to the next. Also be aware that rolling negative equity into the financing of a used car is harder than a new car.

Can you sell your car yourself to make up some of that negative equity?

ItzFilyO

Why not just lease it?

Schmexus

Not everybody likes renting cars. The idea of NEVER gaining equity in a vehicle has never appealed to me.

SW17LS

The point is if one is constantly trading in cars and rolling over negative equity, not only are they never gaining equity, they consistently are loosing equity by going into a new car upside down from the start.

No intention of turning this into a lease vs buy thread, but the idea of "gaining equity" in a depreciating asset doesn't appeal to me. You're never gaining with a car, always losing whether you owe more than its value or less than its value...its value is always declining.

DaveAMass

Not a fan of leasing. Also, my wife drives about 20-25k miles a year, hence the loss of value in her previous car. With that mileage obviously leasing isn't an option.

I don't have to put the negative equity in a loan. I'm already approved through our credit union for $46k but didn't realize it's extra work/step to roll the negative equity into that? We owe $20k on the car and KBB is listing it as $17.5k value as a trade (in good condition, which it is - not excellent, but good). I already had a dealer offer me $17k on it. I could push for $17.5 and pay the $2.5k in cash.

The approval is good through mid-August. Perhaps I just payoff more of her current car over the next month and shoot for getting a new Lexus as suggested.

Also, who says I "constantly" trade in cars and roll in negative equity? First time *ever* doing it. Actually, we typically drive our cars until they are dead. Her 2002 Honda CR-V finally went to heaven and we purchased a 2013 Kia Sorrento about 1.5 years ago. My 1996 Ford Explorer went to heaven and I got a 2013 Camaro. We keep our cars for a LOOOOOONNNG time. The Sorrento is the exception. We had twins and thought we needed a big family car but we don't. My wife has always wanted a Lexus and I told her it's time to get it. I knew we would take this hit, one way or the other, and we accept it given the high mileage she does.

ItzFilyO

I see.

Well I think it's better to deal with the old car first, then deal with the new car without adding any negative equity.

SW17LS

You might be surprised. I drive about 20k miles a year and lease effectively. It all depends. I trade out of them before the lease is up and thus any mileage overage is a non issue.

if you're happy keeping a car a long time though, you shouldn't lease.

IMHO you should do this...