305Busa

Im looking at a nice 07 460L CPO at a local dealer and they want $48,000 for it. What kind of offer should I make to them if Im paying cash? Its a 1 owner, with ML system and 34,000 miles.

cmasten

Hard to tell what other options it has from your description, but I would think if it doesnt have the exec package then 41-43k depending on rims etc. 47k is high for where they are right now, but then again that is in the So Cal Market, I dont know what the FL market is holding.

look em up, run a query on autotrader for cert vehicles in your zip with 07 and 460L as the criteria and you will have something to compare it to.

dimapb

Like cmasten, i also think it's a bit too much. You can get an 08 for that kind of money. Offer $39K. In today's market and with all Lexus/Toyota issues, this would be a pretty good offer.

miniz

That is WAY overpriced. They bought it for $37-39k. I'd go in at $39k. Good chance you will have to walk if they think it worth $9-10k over market value. Keep looking. There is no shortage of off-lease and nice used 07 available throughout the state. This is a very popular car in So. FL.

Member

I am in the market for 07 or 08 CPO within the next 6 months for I am tracking the CPO pricing like a hawk. The price is definitely too high. Dealers set prices high to leave room for haggling. The current 07 off lease buy out option prices are around $36000, dealers probably pay $33,000 if the lessee decides not to exercise the buy out option, plus $2k-3k for get the car CPO ready, so cost to dealer is around $36k, so there's plenty of room for negotiation.

Lexus is having an end of year sale, I got a no haggling quote for a 2010 LS460 RWD SWB with Mark Levinson, navigation, and comfort package for $65,500 (I have no idea how "no-haggling" the price is). If I have to pay $48k for a 07 CPO, I'd rather bite the bullet and get the 2010.

dojom77

I just bought my 1st Lexus. A 2007 LS460L with 12,500 miles. I paid an even $50K. It was listed at $52K. ML, Comfort, Luxury. Everything except the Executive Package. Black Sapphire Pearl with Cashmere interior(my first choice). My sense is that I got a pretty good deal. I'm lovin' it so far. This was from a private seller in the Seattle, WA area.

cmasten

Beautiful Car. I have always like that color combination

Welcome to the club!

miniz

Well, I got bad news. You paid too much. You could have got an 08 for that price. Fair market value on your car would $45k due to the low mileage and options.

kg19989

Water under the bridge. That is a gorgeous car. Be proud of it and don't look a dead horse in the ***. Welcome to CL!

dojom77

Washington State required that I pay tax on the assumed value of $52,900.00. TMV dealer retail shows $55,265.00. TMV Private party shows $51,731.00. TMV trade in is $48,320.00. Kelly bb gives a private party value of $52,085.00.
My next best option was this:

http://www.ebautobrokers.com/detail-...d-5749160.html

The difference in condition of these 2 was dramatic and made my choice easier.

MannyRCF

Way to much,I paid $38500 for the same car back in April 2010....offer 39...nothing more.

stever500

Friend bought one 6 months ago, 08 with around 25k miles for $45k. Immaculate, upgraded 5 spoke Lexus wheels. Silver with black, his preferred color, from a BMW dealer. Orig price was $56k! It sat there for many months.

305Busa

Lots of info to go to the dealer with. Thanks guys and gals if there are any. Im glad you mentioned that Stever because I looked at one at an MB dealer and its been there for about 4 months already. Doesnt seem to be anything wrong with it but I just thougth it should have moved by now. I'll get the VIN on it and run a carfax and see what happens.

dojom77

I'm guessing that prices for 2007 and 2008 will continue to fall in the next few months due to the further slowing of the economy. As well as the impending introduction of the new model year.
I test drove an LS460L at a dealer. Silver/light grey, about 26,000 miles CPO they are/were asking $44,000. They've had it awhile sounded anxious to deal. Unfortunately I really don't like silver (or grey birds eye maple) Probably because our skies here are so often grey/silver. (Western WA).

dojom77

Thank you for the Welcome and compliments, Keith and Cmasten.