Rspencer55

I am in the market to purchase a Lexus LS 430 and I need your opinions and advice. I am a rather large guy (6'5" 295) and I can't tell you how many cars that I can't fit in. The Lexus is one of the few cars that fits and gives me a feel of a luxury car without breaking the bank.

I have a Lexus dealer about 2 miles away that has a certified 2004 with the premium package for 23,995. It is a Moonlight Pearl/Cashmere LS in pristine condition and 56k and has smart access. The 60,000 service has also been done. The salesman has told me when I inquired about a price reduction that they would probably only go down $500 due to the certification and the work that they put into the car.

I have also seen a 2004 certified that is black with a cashmere interior with 65k and they will sell for $21,500. I haven't seen in in person yet so I don't know the condition.

While I have done some research, I don't know if this is a good price for either car. I'm kinda drawn to the certified cars as I can get new car rate for financing (60 months) and the 3 year warranty (I put on about 10,000 miles a year). Are these good prices and what should I look for in my search. Also, I know that the 90,000 service is a major cost - what would I be looking at in cost? Should i focus just on certified cars and how much premium do they command?

I would appreciate any advice or suggestions that you could give me. I know that I am asking a lot of questions but knowledge is the best prescription when buying a car.

caddyowner

Some folks swear by CPO. Others question the value, especially on a car with the premium package because the expensive-to-fix options aren't present on the car. On the plus side, given the annual mileage you drive and the number of miles on the cars you are looking at, you should get a full three years of warranty coverage from the CPO program.

Another item to consider in the CPO v. non-CPO purchase is the cost of immediate repairs or service when buying a traditional used car. Today, I paid over $1,100 for service on my non-CPO 05 that I bought last month. That included $450 for the 30K service, $375 for replacing inoperative switches on the steering wheel, $225 for a second master fob, and $58 for a cabin air filter. All of that would probably have been done on a CPO car.

As for the value of the CPO interest rates, use an online interest rate calculator to compare the monthly payments of the Lexus CPO rates and your local credit union. Given the amount you will likely be borrowing, the difference may not be very great.

Jabberwock

I honestly think Lexus CPO has really good value. The treatment we got from the dealer was absolutely world class when we bought the CPO car. Th ecar had been completely detailed by a real pro inside and out and looked absolutely showroom new. And more importantly the CPO cars tend to be in very good shape low mile cars to begin with or else they would not chosen for CPO program, and my experience is that the dealer works hard to make sure a CPO car is in excellent shape when you take delivery (at least they do in Dallas). Sewell Lexus will routinely put on new brakes, tires, do major service, repaint chipped bumpers, etc. for a CPO car.

Normally I turn down extended warranties for all items and cars so in general I would not pay extra just for a warranty but I have to say the Lexus CPO program has been pretty impressive to date. Having said that I have a Premium optioned LS and my guess is that it will be bullet proof and I will never have to use the warranty - that's absolutely fine with me.

I6turbo

iTrader: (1)

^^^ Two very good answers there, IMO. Re: the premium commanded for CPO, hard to say, but since Lexus dealers are the only ones who can offer it, the CPO cars tend to be the highest priced cars because Lexus dealers are often at the upper range anyway, plus there's the CPO. However, from what I've seen when I was shopping for my 1st LS, my GX and my 2nd LS, many Lexus dealers have been quite reasonable overall for the quality of cars they had on offer. Roughly, I'd say you might pay $2K additional for a CPO car at a Lexus dealer vs. a very similar but non-CPO car at another reputable dealer. Some will be higher, and some might be lower, of course, but bottom line is that I have not found some of the Lexus dealers to be far out of line price wise, once you get down to what they'll actually sell the car for. I hope that helps as well.

AlexusAnja

Don't forget... CPO is 24-hr roadside and free car wash anytime you want.

warminwisc

JMO but I would say you are paying too much. I bought a 04 premium 1 1/2 years ago with 54 k on it for 17 g's. Chrome wheels full service history. I did noit get a CPO car but at 96 k now it has been flawless. Good luck

Jabberwock

RSpencer55 - one good way I found to get a feel for current prices was to used Edmunds.com to advanced search for very specific cars and model year - search for 04 LS430 with less than 30k for example, you can even use a key word like Ultra if that is your interest, but search across US. You will get a pretty good list of cars for sale across the US and the asking prices. Take some notes based on descriptions, noting options, you will quickly develop a sense for the going asking price for various LS years, options, and miles. Obviously thsi is only asking price - but it will give you a sense when you are looking at a car if its in the right range dollar wise. And go look at LS at every local Lexus dealer in your area - I found that this also helped a lot to become expert in what was available. My wife and I probably drove 30-40 or more LS at Lexus dealers over a 2 month period - the dealers were very nice and typically there was very little or no "pressure" to buy. The most important advice I can give anyone is to be very very patient, but when you do find the right car you have to pounce. The good cars are like good houses in real estate - the really cherry houses sell same day they are listed and typically only the issue houses stay on the market past a few days.

I6turbo

iTrader: (1)

But to be fair, your deal was an insanely low price at that time, so people have to be careful that they don't start thinking that they too should necessarily expect to find that kind of deal on an outstanding condition car.

caddyowner

^^
If the only way you can afford to buy one of these cars is to find an "insanely low price", you should probably be buying a different car. You will probably also not want to spend the higher price for routine maintenance and, when necessary, expensive repairs to keep the car in great shape. However, if you're prepared to spend the KBB listed price and find a great deal, more power to you.

Rspencer55

I want to thank all of you for responding - your help and suggestions have been a wealth of information for me. I am currently driving a 2005 Saab 9.5 and although I would like to get a larger car, time is not of the essence so I have the luxury of taking my time, educating myself and finding just what i want. I'm certainly not a stranger to the requirements of a luxury car as I have to pay the "import tax" when my car is in the shop, using premium gas and doing the 5,000 synthetic oil changes.

The size issue though is very important to me as I don't fit into most cars, at least comfortably. I couldn't believe that I didn't fit in a Honda Odyssey or an Infiniti QX 56. It get rather disheartening when you see a car or a van that you like only to find out that your hear is hitting the roof liner or your legs are rubbing against the steering wheel.

I am not trying to get an "insanely low cost" car but rather to get a fair price. The local Lexus dealer, Lexus of Westmont has put "BIG" bucks into their dealership and I know that someone has to pay for those car washes and waterfalls in the lobby. I just want to make sure that I get a fair price, both for my Saab and for the Lexus.

Thanks again for all your help - this forum as been a great source for information with some of the most helpful people around.

caddyowner

^^
Waterfalls in the lobby? Very cool. How is the market for used Saabs? One of my friends had one for a while because they could use their GM family discount. I think they traded it for a Buick crossover which was more convenient for shuttling stuff to-and-from their sailboat.

I6turbo

iTrader: (1)

One of my local dealers has one. It makes me want to go pee pee.

caddyowner

^^
I wasn't going to mention that...

Rspencer55

The market is not very good - mine is a 2005 9.5 Arc with 46,000 and Carmax quoted me $8000. I'm hoping to get $9000 but we'll see. For a mid-size sedan though, it has pretty good interior space and they are quite a good deal now.