Knicksfan

Told me that they are establishing a relationship with a reputable tax/accounting firm to review the required documentation (they will request) to mitigate the claims for individuals who have been adversely affected by the re-label issue.

They expect to get back to me (us) with details by the end of this week.

So far, so good. Lexus is taking the issue seriously and appears to want to keep us staisfied buyers. I am encouraged (so far) that they will be fair.

degeester

Lexus has offered to buy back the GX for the full purchase price. Not sure If I am happy with that resolution. I really like the car it fits my family's needs perfectly. I like the styling, the quality, the fit and the finish. But It needs to have one more pound on the GVWR.

I asked customer service about this recall. They told me that it was a screw up from Japan. That the car was always 6000 GVWR and Japan got the numbers wrong and labelled it 6100 GVWR. Customer service knows corporate is aware of this issue but has no information as to what changes will be made to the GX for 2004.

gx470

I agree with your feelings on the GX... but unfortunately that one pound is equal to lots of $$$ of tax savings. Have you approached them about possibly trading the car for an LX470?

Did you purchase your car after 12/31/02? Those of us who purchased our cars in 2002 have some tax issues that will need to be addressed. Hopefully Lexus will come through with a reasonable offer.

degeester

I purchased my GX on 12/20/02. I will need to file a amended tax return due to the repurchase. I have lost out on 33K + in tax deductions from the tax year 2002, I will need to fork over more money to the IRS due to this problem.

Guy

What about those of us who knew it was rated at 6100 GVWR and never looked at the sticker, not having any reason to. Lexus has never published anything about the weight change that I was aware of. The dealer didn't even have a brochure for the GX when I went in for a test drive, as they were probably being reprinted.

I discover this forum within the last two weeks and BANG!

The only reason I bought the GX470 was because of the 6100 GVWR! I needed the tax savings to offset the cost of an additional dingy, as I am not able to tow the GX 4 down behind my coach. I was going to buy an MDX and while I prefer the GX470, I would have saved a minimum of $10,000 and I wouldn't have to buy another car (even a used Honda CR-V costs a minimum of $13,000). It looks like this little screw-up could cost me a minimum of $23,000 out of pocket and I only have 900 miles on the GX. Let's see, that means I paid $77,000 for a GX470. What a deal!

I'm not a happy camper. I guess I wouldn't be so upset if I could get Lexus to install a Remco pump and modify my warrantee so that I could tow the GX or offer me an alternative solution. Other than that, I'm toast, especially having to tell my better half.

Could anyone email me with the telephone number of someone to contact who is familiar with this problem, as I would hate to try to explain this starting from the beginning with another customer service wonk?

Thanks,

Guy

FWIW, the latest Kelly Blue Book still shows a 6100# GVWR. I just checked my car broker and verified it. He's going to fax me a copy. He also checked the GX brochure dated Nov, 2002 and GVWR isn't mentioned there at all.

gx470

Has anyone heard anymore from Lexus regarding this? When I talked to Customer Support last Tuesday I was told that the accounting firm would be contacting me by the end of last week and I haven't heard from them yet. I would like to get this issue resolved.

JocDoc

I agree. I called again last week and was told that Lexus does recognize my situation as problematic. I was asked about my business usage amount and was also asked what could Lexus do to resolve my problem. I suggested they buy the vehicle back for what I paid for it, and I would be happy to purchase a 2004 if the GVWR is >6k lbs. Alternatively, I suggested they pay me the $$ my company will loose in taxes in 2003. I don't think this is practical, but they asked!!

Knicksfan

I received the package from Price Waterhouse Coopers on Friday which promptly was sent to my accountants.

I didn't pay a lot of attention to the questions but they did seem straight-forward regarding the business use of the vehicle, the tax expected before the change, after, etc.


We'll see.

Guy

I finally called Lexus CS today and gave them all of my information, thanking my lucky stars that I didn't own this vehicle last year. The CS rep seemed very knowledgable about the problem for those of us trying to take the accelerated depreciation.

She said a representative would get back with me in about 2 weeks, and did provide me with his name.

When she asked what I was looking for, I told her my first choice is for them to buy my son's 2002 Escalade (with 22" wheels) and then he would keep the GX470 as he doesn't have a tax problem being an entertainment exec. My second choice is to get some help with the $30,000 depreciation I will lose this year.

We'll see what they come up with.

rbridges

has anybody heard if they plan to make a change for '04? I spoke with the local Lexus guy and he hasn't heard anything.

w4rjd

Get your 2002 tax returns ready complete with all schedules. By magic PW is going to be able to caculate your tax exposure for 2003.

I am not happy with the idea of sharing my 1040 information with Lexus or PW due to a Lexus screw up..

Knicksfan

Not that I really care...but the documentation from PWC states quite explicitly that they will not share your financial info with Lexus.

I am in the Internet Medical info business and I can assure you that playing games with personal info is just plain stupid and high high risk...so I think you can feel secure that PWC would not take that kind of risk in this (think: Arthur Anderson) environment.

w4rjd

I would hope that is the case, but in todays world of personal information problems it is a risk.

If it had not been for the fact that Lexus made a mistake, you would never be asked to share your information. The fault is with Lexus,not you.

On the other side of the question, how can PW estimated your income from your business for 2003? I don't think they have magic glasses.

major1

My experience as follows, if it helps anyone:-

Call Lexus Customer Service @ 800.255.3987

Mention you own a GX470 and give them your VIn #

If you dont have it & you are a registered owner, just give them your name. They will have your details in their system.

Explain you have a GX470 & are concerned about the GVWR situation & tax implications.

They should set up a "File Number" for you.

They should outline a few issues with you:

01. Your title is probably incorrect and will need correcting as to GVWR 6100 -v- 6000lbs.

They suggest to have your accountant review the following and you send in his review to Lexus referencing the "File Number" you should get.

02. To have your accountant assess your tax implications if you purchased your vehicle in 2002
03. 2003 accelerated depreciation figures.

They are apparently treating every customer on a case by case basis. (which is probably correct as everyones tax implications will vary).

The cruncher:- They obviously are treating everyone based on what will make them satisfied & are concerned to make everyone happy.

I have not figured out myself what will make this situation right, & will ponder further.

If anyone has suggestions please post your thoughts?

Thanks