nerv81

I'm going to be making a deal on a 2013 CPO RX tomorrow. It has 17k miles and was a dealer loaner car. Options include Nav, ventilated front seats, parking sensors. The asking price is $36,500 which is below what similar models are going for. The reason seams to be cause the car had a minor accident and was hit in the rear. Dealer said the bumper had to be replaced but there was no structural damage which is why they're able to sell it as a CPO. (Note: They're selling 2 other previous loaners with similar mileage/package for $35k not cpo cause they both had side accidents).
So my question is should I be concerned about anything? I had a 2008 RX and sold it at 100k but through my entire ownership I only had to do oil changes, brakes, and flushed the brake fluid once so I know it'll be a reliable car.
Also, what do you think is the lowest I could offer on that vehicle. According to the carfax it's been on their lot for 10 weeks.

MDames2

iTrader: (1)

I wouldn't worry about the minor accident. Lexus will stand behind that if it's a CPO. As long as you've test driven it and it meets your expectations, I wouldn't worry about anything. This is a very reliable and excellent vehicle. I believe the price they're offering is fair. Make an offer for something reasonably less and see if they counter or agree. You have nothing to lose.

Joeb427

iTrader: (1)

I wouldn't buy a loaner car.Add in a Carfax issue.
I wouldn't walk away from the purchase....I'd run!

snowy

Depreciation will be your biggest cost. How much will the accident on the carfax affect the resale when you are done? That would be my biggest concern. You can look at similar aged cars with accidents listed on carfax and get a general idea of how much less they are worth than ones with "clean" reports.

Sevn86

I agree, some abuse loaners like no other. I was in a similar situation when I was shopping for an RX in 2012. There was one on the lot and it was also a CPO and the carfax reported minor accident and it had the rear bumper replaced. I didnt buy it. I was worried about resale. Luckly i found a cleaner, nicely equipped RX350 for about the same price with 7,000 miles less then the CPO with a clean title and bought that instead.

MDames2

iTrader: (1)

I have had two vehicles that were in major accidents and when I sold them, I got fair market value. There was no deduction for the accident. The most recent was a 2007 ES350 that I traded in for a CPO 2010 RX350 with only 3,400 miles on it (in 10/2012). So you don't always lose value later on for a vehicle that has been in an accident. Also, my wife was rear ended in our RX a couple of months ago. It was VERY minor. the bumper cover had to be replaced along with the parking sensors. So it doesn't take much of a hit to replace the bumper. The result is like new. I don't anticipate this very minor hit to result in a decline in value years from now when I sell it. Many are not comfortable with these situations, and I understand that. But they don't always turn out bad, and it may help you to get a better deal on a very nice vehicle, particularly if you plan on keeping the vehicle for 5 or more years.

drewcam888

iTrader: (1)

If you trade in to a Lexus dealer then the accident won't you. If you go outside Lexus expect a large price decrease.

doc307

I purchased a CPO a few weeks ago. The first one I looked at showed a minor rear end accident
so I told them I wanted nothing to do with it. I would say this comes down to personal preference.
I have a 4runner that was in an accident but I know who repaired it and how the repairs were done.
I also have a lifetime warranty on the repairs/paint. When you purchase used you have none of that.

Good luck on your upcoming decision and purchase.

nerv81

Thanks for all the advice. I went to the dealer to check out the one with the accident and I noticed a few too many scratches on the door panel in the back seat, and the paint on the rear bumper wasn't an exact match so I walked. I went home and started looking around and actually found another one with 4k less miles in Starfire Pearl (my wife's first choice color) asking for $1k more. I called up the dealer and did the entire deal over the phone and left a deposit. We're picking it up this Friday (pending a test drive and inspection to confirm the condition). We sold my wife's 2008 RX last year but she got into an accident with her current car so she's happy to be getting back into a RX. Thanks again for the advice.

Joeb427

iTrader: (1)

Smart move!

raylor4

Sounds like a winner. Especially the part about it being your wife's favorite color.
Ray A.