zyx345

I've narrowed my choices down to an RX however I have decided to go Certified Preowned to minimize cost.

After shopping some dealers I found a 2010 RX350 Non-Nav in good condition inside and out with 25K miles and I have test driven this car. Interior color is my second choice but I'd still be happy with it since the interior and exterior appear to be very well kept and I checked it thoroughly.

They're asking $32K and went back and forth on the #s and they still only came down $1k after I walked and informed that they are at the bottom.

My questions are:

-Is $31K before TT&L a good deal on a CPO 2010 RX350 w. 25K miles?

-Is Lexus known for fair prices on trade ins? They quoted me a really low price on my trade in which is a 2011.

Any advice is appreciated as well as any suggestions on additonal items I can negotiate into the deal, i.e. all weather mats, etc.

mac12

The price sounds good if it has a lot of the other options that were available in 2010. A Lexus salesman told me that CPO adds 2K to the price.

watch37

1. If you are getting the CPO warranty, adding 3 years and up to 100K on the odometer, then I think that is a very good deal. I like to use carmax as a yard stick, since they are pretty good at pricing their cars very fairly and at market value, although I am not usually impressed with the condition of their cars. According to my search, the lowest priced 2010 non-nav Rx350 in the 25K mileage range are listed at $31,000. There are only 3 at that price, and the rest are listed at several thousands more. Plus, the carmax cars don't come with the CPO warranty, and my guess is they are not as nice as the one at the Lexus dealer. So you are getting a nicer conditioned car, inspected by Lexus, and getting a 3 year warranty on a car that the warranty has expired or will soon expire, for a good price.

2. As for trade value, my experience has been that Lexus doesn't give much for trades. That's the downside of trading in a car with Lexus.

GRAYM

I would really look at getting a 2012 loaner Rx from the dealer. We just did that and I paid exactly what i would have paid for a 2010 from a different dealer. it's worth the look, and they gave me an excellent trade.

LexRexBlue

I never looked into a used RX. But, if that's the going price I'm glad to know that my 2 year old RX is worth that much. Mine has 14000 miles and navigation. When the dealer sends notices encouraging me to trade mine in they always offer almost nothing. I've decided to just keep my car. The only one that is enticing me is the new GS in which case I'd keep my RX and get rid of the IS.

CarloRX

Hi, It really depends on your location. Just to compare, I live in Southern California and I just purchased a 2010 RX 450h with 34k miles for 35k and of course certified to 100k. I thought it was an amazing deal! Lexus of Valencia

marcxu

Used cars are actually a really bad deal if you think about the numbers.

A new RX350 with premium + nav can be had for $44,700 according to carsdirect. Most of the 2010s are 3 year lease returns. If you pay $35,000 for a 2010, you're basically 78% of the price of the new car. That comes out to only $3200 depreciation a year for the first three years.

If you assume the car will be worth $4000 after 10 years, then effectively depreciation for year 4-10 is $4,428 a year.

So if you buy a used car, you're actually paying more for year 4-10 of the cars life than year 1-3. Seems like a ripoff to me.

zyx345

Thanks. If you don't mind me asking is that $35k out the door?

ecr72

$4000 for a 10 year old RX? How did you come up with that number?





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Evitzee

That was my question as well .... I have a 7 year old Lexus IS350 and retail price now is about 50% of the new price .... and it doesn't depreciate that much anymore. I would suspect a well maintained 10 yo Lexus with 100,000 to 150,000 miles on it would be worth about 30% of orig price.

CarloRX

wow...your numbers are way off. First, I got a 450h which retails in the 50k+ range. So even from the start, your math is off.

Secondly, when was it ever known that a used car was a bad deal. As soon as you drive off of the lot in your new 2013, it's already depreciated!

But what it breaks down to is that we all just value different things. If you like new cars or used cars, at least it's a reliable lexus RX! To each his own!

UTAS

One point needs to be made re: original prices - the hybrids always are more than their gas counterparts. E.g., the 2010 model RX 450h base price is about $4200 less than the 2013 RX450h. This likely due to "enhanced" features, but I'm inclined to think it is also trying to improve the bottom line with some marketing techniques. Perhaps marcxu's numbers are approximately correct for the gas version, but I wouldn't focus on the negative.

However, used Lexus models can be very good choices, if the prices are right - just have to find "the" deals. The frugal might not see shelling out for new, when the first turn from the dealership depreciates by at least 10%.

wasjr

I am on this forum as we have recently purchased an 2013 ES300h for my wife so I am not up on all the Lexus CPO details, but a couple of comments on your situation. Re trade ins, used cars are where the dealers make tons of money. When we were negotiating our ES, AFTER we were set on the price, I asked what they would give me for my wife's Volvo. They offered $3,500. Carmax offered $8,000 and I sold it myself for $9,600.

As to warranties, I will make the assumption that Lexus operates like Acura and you can buy an extended warranty at any time before the original warranty expires. If there is a Lexus dealer that sells and discounts these warranties online you might consider buying the vehicle without the CPO, and purchase an extended warranty later. That is what I did on an MDX. You still have a good amount of time/mileage on the original warranty. Also as an aside, be sure to check service records.

watch37

According to Carmax, a 10-year old RX (in other words, a 2003 model year RX) is market priced at between $13,000 to $18,500, depending on miles of course.

watch37

I should add that it is well known that a car loses most of its value in the first three years. So in year 4 and afterwards, the depreciation is less. So math wise, it is almost always better to buy used over new. There may be many other reasons to buy new, but money is not one of them.