MickMick

Hi! I am currently looking at two CPO vehicles. Both are RX330s. I noticed that the prices are significantly more than blue book or even guides “what to pay”.

Me – no trade-in, pre-approved, ready to buy. I don’t want to spend “a lot” on a car and would prefer the “security” of the certified pre-owned.

Car #1 – 39K miles, AWD, straight base model (no nav, no ML) nothing. The dealer wants $25K for it. I know that it has been sitting on the lot 9 months and in the possession of the dealer for 12. I have a reputable independent mechanic looking at it, but so far I know that there are no floor mats or cargo cover. I will find out the rest when I get the report from the mechanic. I am targeting $22k

Car #2 – 38K, AWD, again…no Nav or ML. The dealer wants $29K for it. It has been on the lot for one month. My brother (who is Toyota and Ford certified mechanic) checked it out. Everything included (including the first aid kit). I am targeting $23K for it. Would a dealership go that low?

Car #3 – 59K, AWD, Navi. Not certified. The dealer wants $25K for it. Brother looked at this one too. No first aid kit . It has been on the lot for seven months. Thinking fo targeting 22K for this one.

Any advice? Any experience?

Thanks in advance!

xfirechief

TAKE IT THEY ARE ALL '06 RX'S. Car # 2 would be my 1st choice then #1.
Car #2 for around $23 - $24K sounds like a deal. What about tires, brakes. I got around 50K on my tires & brakes but that was a lot of highway driving.

mikez

Just say no if the price is above 25k. You can get a new 08 400h for 38k, tell them they are crazy to sell you a used 06 for 29k, specially since its a based 330. Be firm and shop between dealers, the price you offer is very do-able, just dont let them think they are the only dealer for you.

1. the economy sucks
2. the new body style came out

arnieosp

iTrader: (1)

I would completely scratch off the list the car#3, too many miles, too much money, not a CPO. The Navi in Lexus, IMO, is overrated. I own an RX350 w/no Navi (I use a $250 Garmin) and a GS350 w/Navi. The Garmin is light years ahead of Lexus in user-friendliness and simplicity. If I could replace the Lexus Navi with the Garmin Navi, I would do it in a heartbeat. The back-up camera in Lexus Navi is sure nice.

I would offer about $20K for the #1, I think your $22K target is right on.

I wouldn't pay more then $22K for the #2. The floormats and the first aid kit are not worth an extra grand.

In addition to a mechanic, have a body shop man look at it. A lot of things could have happened in 3 years. Don't trust carfax, I've seen them missing stuff.

Lex2000TL

1. Decide your maximum price for each car you want. Make sure that you checked all reliable sources and that the price you are stating is not out of this world, but realistic.
2. Do not go to bargain, email to dealers your offers minus about $700.00 - $1,000.00 and state that you are shopping around and are expecting replies from several reputable dealers. Also state that you are ready to make a purchase as soon as you agreed on price and the vehicle is as advertized.
3. Give dealers your contact information and expect phone calls, but do not negotiate over the telephone, wait for email reply. The offer has to be in writing.
Unless your offer is not reasonable, you will be pleasantly surprised what kind of feedback you may have. Nowadays car dealers are hungry and will go extra mile to earn your business.

kalvano

No dealership keeps a used car on the lot for 9 months. After 30-45 days, it goes to auction.

GQD_GS4

the dealer's asking prices are not THAT unreasonable. compare on cars.com. i seriously doubt they will drop $6000 on car 2. cars 1 and 3 are the same price but car 3 has 20k more miles. all that wear and tear just for navi? i'd rather buy car 1 and a garmin from best buy. make the dealership throw in the mats and etc into the deal before you sign! also...certified pre-owned for peace of mind!

MickMick

Thanks all! Using your advice, I have definitely excluded #3 from the running.

I think that car #1 is going to be the car. Kalvano, according to the CarFax it was certified at the end of September (just before "the crash"). I don't want to push them too hard on price because #1 is the color that I want . However...I will walk away if necessary.

I'll find out the results of my independent mechanic study today and will begin negotiations today. I will make sure that I post photos and the results.

MickMick

An update...

No luck on the car #1. They wouldn't budge one bit. I found out that the car had been involved in a rear end accident. The work was impeccably done. So, I suspect that is the reason why it sat on the lot all of this time.

I am keeping my fingers and eyes crossed for another car with much lower miles. I will have details on that later today.

MickMick

Update - I bought a Neptune Blue CPO '05 with heated seats and such, tow package, and 40K miles for $23K. I was able to take advantage of the lower interest rate.

Thanks for your help!

daryll40

That sounds about right. I paid about $4000 more for an '06 CPO with 17K miles 3 weeks ago. So your '05 with more miles for $23 sounds about right.

tromly

Car #1 --- target 21,500, being on the lot that long he wants to move it. Car # 2 --- target 24k you can always ask, times are tough and most dealers need to sell cars to meet expenses. Car # 3 target --- 22k, take into account if the dealer has a high processing fee as that is pure PROFIT for the STEALERSHIP !! Good Luck