MikeinLA

Hi all. I am considering trading my 2004 Silver RX330 for a 2008 RX350 in order to change color to Granite Mica, get the Nav, etc. I have about 56,000 miles and the car has been trouble free and looks good. A dealer in the area told me that I should trade mine before it hits 60,000 miles because that is the upper limit for CPOs and I will get more in trade if they CPO it rather than wholesale it out. It sort of makes sense, but does anyone know for sure that this is true? Might make me move a bit quicker.

Thanks, Mike

Lexmex

I don't know what CPO mileage is going from dealer to dealer, but I have seen that people usually trade in a vehicle after or just about when the warranty is going to expire.

VroomVroom

My guess is your dealer rep wants to sell you a new car more than he cares about ensuring a good trade-in figure for your current one.

If you want a new car, with the color and features you mentioned, by all means make the move. Just do it for that reason and not because of the mileage on your '04. Good luck...

mandyfig

The sales guys will always come up with..if this, then that....trying to convince you to part ways with your old car for a new one. Do your research on the highest value you can sell your car. Then do your research on the best value you can buy a new one. The 1st is not tied to the 2nd. That's the golden rule.

kingofire

Its easy, go to www.kbb.com and find the trade-in value at 56k and 60k miles and see if there is a big discrepency in price. I would do it for you but I dont know what options you have. What I always do is get the highest trade-in value for the car on kbb.com and add about $2000 to it and offer that as my price for trade-in. If they balk, I lower it by $500 and work down. I usually always end up getting atleast $1000 more for my trade-in value than what is listed as the excellent trade-in value on kbb.com. If all else fails, print out the kbb value and take it to the dealer and tell them you will take no less than what kbb claims you should get for a trade-in.

kingofire

Well this is what i get, if i got your options right:

http://www.kbb.com/KBB/UsedCars/Pric...izConditions=0

For 60,000 miles:

http://www.kbb.com/KBB/UsedCars/Pric...izConditions=0

From what I see, keeping the car for another 4000 miles will probably get you a $1000 less on your trade. You've got to decide if keeping the car 4k miles more is worth losing $1k or not. I'd keep it for 4k more, then trade-in for a 2008 Rx350. If you negotiate the trade-in well, you might not lose the 1k after all.

mandyfig

The other option that works well is take it in to CARMAX and have it appraised, it is free. Or you can actually sell the car to them for the appraised value. No sweat.

CK6Speed

iTrader: (1)

I think the idea is not what the actual market value of the car is at $60K vs slightly lower, but that for the dealership they will NOT CPO a car that is over $60K in this case. For the dealer, if they can CPO the car, they probably can ask for a slight premium on the used car lot vs a car that is NON CPO. Seems like the type of buyers that buy luxury/near luxury cars used like CPO ones.

By the way, I sold our RX330 right at 60K miles as well, so maybe there is an unconcious itch to get something new at that time.

VroomVroom

I have trouble getting much past the 60k mark myself. Kingofire, your track record is amazing - congratulations. I've never traded a vehicle for an amount that high.

salimshah

Lexus only offers extended warranty 100K before the base warranty runs out [@60k]. CPOs are vehicles with extended warranty.

An owner can purchase the extended warranty and transfer it to the new owner for $50 (fee may have changed).

Salim

AM1

iTrader: (6)

when the lease is up on mine next year it will have been 4 year 60k

mandyfig

15K a year, not bad on mileage. Daily ride?