rominl

iTrader: (4)

i don't know if it's a law or requirement, but imho, why not? if you have good credit, running a check won't cost you anything at all, 5 mins and you are done. you are writing them a check, that's a risk to them. what if the check bouces? so many frauds out there these days it's not even funny. when shopping for my ls460l, i already ran into two ls460l that were re-po due to credit failure.

if the car is right for you, and the price is good, just give them the ssn and 5 mins and done

terrain

z32 - yes has been for years! Cash is how I purchase vehicles - including my L last month and the dealership will still run your credit to ensure that the "CHECK" you are giving them has something to back it up. I was told credit checks would be done regardless of the payment method (Cashiers, Bags of Cash :-) etc...) I'm in the same boat with regards to running credit - I avoid it in all cases when possible.

What dealer are you working with? Why did you walk from the deal? 5.4 under invoice sounds about right.

AlexusAnja

Once in a blue moon, say evey few months, it won't matter, but if each time you get your credit check, there is record in your report. If later on you are getting a loan, then company might see that your report is being queried a lot and think that you might be over leveraging your finance so they might see you as not ideal or credit risk.

If you're paying cash/check, you should not be required to run any sort of credit check. They are only checking your credit to see if you have excellent credit, then they will try to sell you a low finance plan to make it look more desirable to you. Don't let them run it.

kalvano

In Texas, the SSN is required to register the vehicle. But, if paying in full with cash, there is no required credit check. I highly doubt there is in California, either, but I could be wrong. There is simply no reason for it.

rominl

iTrader: (4)

yes i am well aware of the note of credit check on credit report. but if you don't do it often, it's not going to hurt you in any way at all. especially if you have tier 1+ credit, meaning over 740, if you do credit check say 2 times a yr, it won't put a ding on your credit at all. if your report is queried a lot, then that's a problem fundamentally. we bought our house in 06, leased 2 cars last year, and we might lease another car this year. my credit score keeps on going up

ghenley

Hmm, this is a pretty sensitive topic for me right now. My score was well above 740 at this time last year. I bought a LS 460 in March and the dealer checked with 3 finance companies (I don't know why and didn't know at the time). The 3 inquiries showed up as 3 inquiries even though it should have been one inquiry since they were all done at the same time. Then, a late payment showed up in error this year (for $50) on a Home Equity LOC for a house that I sold in 2006 (the loan was paid off in 2004). The mistake was corrected on my wife's credit, but not mine and I'm still fighting it. Needless to say my score went down to just below 700. I'm really glad that I even checked my credit as I normally wouldn't since I've always paid everything on time and have no debt except the credit cards I pay off every month (I paid off the car loan).

It's come to the point that I won't allow anyone to check my credit for no reason.

Greg

terrain

Top Tier credit here as well - still I reduce the 'checks' to the bare minimum. If I was below 740 perhaps I would not care.

In terms of credit check when paying cash - My only experience in the last 5 years was 3 car buy's - a 7, S and now the LS L and all three at three different 'owned' dealerships required it. I don't think there was ever any "NOTION" to the dealer that I'd do anything other than write a check for the vehicles and CC was still required/done. I'm confident that with the L purchase If I refused the deal would not have been done. Cash buy's are not all that common from what I have been told - in fact the Benz dealer said over 90% of their S sales are leases - not buy's in any fashion.

atw24

I would try to avoid any credit check by any means if paying cash/check for a vehicle. If they do not accept, I would give them the check and about 5 labour days for example so they can cash the check and thereby make sure they receive the negotiated payment without any complications.

The whole credit industrie is going to take a major hit, I would try not to give them any information if possible, just what @ghenley@ wrote sounds all to familiar with me.


happy new year

bbq

Just been to dealer. Spent 2 hours with very nice guy (salesperson)!

Then the "manager"

MSRP $69,113. Buy for $63,000.

They have no 2008 models left.

1) Is this "deal" close?
2) Anyone know where LS 08's are?

topgun04

"MSRP $69,113. Buy for $63,000. "


If you are in California, you should be able to get 9-10K below MSRP (close to invoice) for an 09 except the AWD.. In other states, it really depend on the local competition. If you have more Lexus dealers in your city, your odd increase in getting the car at invoice... You have to call around to find the 08. I bought my 08 in early December in N. California and the color/equipment combo is very limited already... so depend on your local delears inventory, they may or may not have any 08 right now... byt the way, 08 has 6000 rebate until 1/3 or so...

terrain

U spent 2 hours - did you end up with a car?

Agreed with Top - you should be able to get close to Invoice on 09's if the shop you are dealing with has no 08's... Give it a few months and I bet you will be we will be in the 'under' invoice yet again.

bbq

Did not buy the car.

Found an 08 for $13,000 off ($56,000) of the MSRP of $69,000 or so.

Offered an 09 for $8,100 off ($61,000) of the MRSP of $69,100.

What's the best way to go?

terrain

I'd go 08 and ask for 14 MIN off - 15 to 15.5 would be more in line. Unless of course you must have AWD, and or passenger memory seat + Oh and color. If you must have a color that is not available in 08 - it might be worth spending a K for that.

Is the 81K an L Car?

bbq

$8,100.00 off of an 09 L460 SWD with a MSRP of $69,100

terrain

Gotcha - mis-read it the first time. 08 - at 14+ off would be the deal I'd go for first.

The 09 LS is worth more but the question is how much more. Today since 08's are still for sale the 09's are worth more than they will be in a few months. Your deal as it sits - 13K off 08 or 8.1K off an 09 - IMO that is TOO much premium to pay for the 09 model year. I would be willing to pay a few K (say 2) to get into the next model year. If I had to pay more I would probably wait until March and work a below invoice deal.