LarLex

Hi, new member here, although not a Lexus owner --- just yet!!!!

I’m looking for a used 2020-2022 RX-350 fwd Non-Hybrid. I’ve been ‘boning up’ on the RX-350 for quite a while, and I’m almost ready to purchase, but I’m lacking one thing: the typical dealer “discount” (Asking Price – Selling Price); on used dealer cars (CPO or not). The RX will be replacing my wife's 2007 Avalon (which has had NO REPAIRS in 16 years - hard to believe).

Can anyone give me an idea of what to expect? I know it varies on location and model somewhat.

Current discounts would be most relevant, but it would also be interesting to find out what the pre-covid discounts were, vs today. So even older purchases (5-6 years ago). I see a data plot coming (average discount vs year).

So I guess, Date of your purchase, & Discount.

Or just general information on what to expect or where to find this information in the 'wild' would be great.

And maybe any tips on how to negotiate! (I’m not looking forward to that).

Thank You!

vetteshark

(about 2 week ago) I negotiated with 3 dealers for 2021 RX 350's and the best I could do was about $2k-$3k below what they were asking on their website. I ended up buying from the 3rd dealer at $2.5k below asking price online and refusing to pay any of the BS fees they tried to add on (doc fee/prep fee/etc). They gave me the standard line of "we can't remove those fees, our dealership requires them". The best strategy is to let them leave the fees on the deal sheet while first focusing on the price of the car. This let's them think you are ok with the fees. Once you reach a point on the price of the car you are happy with then say "oh by the way I am not paying any of these dealer fees". This will likely result in a visit by some "manager" to strong arm you into their position that the fees cannot be waived. Just say, well if you won't take them off then we are done, but you are welcome to leave them on your deal sheet but reduce the price of the car by the same amount.

lgb0250

Most used vehicles have a $4-5k markup placed on them by the dealer. So, $2500 discount is pretty easy. First you need to figure what you think they paid for it. Buying used is definitely different than buying new. The old adage of buying late in the month is there for a reason. Most dealers inventory is floored through a bank and the bank has parameters set up as to what percentage that dealer pays in monthly flooring charges based on how long that vehicle has been floored. You are going to get a better deal on a non CPO that’s getting ready to hit the 90 day mark in inventory than you will on one that has just recently arrived and is a CPO.

LarLex

Good to hear the discounts are there - I was afraid they would be much less. KBB.com is claiming that the discounts are only $500 (I don't trust KBB, I also noticed some of their MSRP data was incorrect).

LGB0250 - Carguru.com shows how long the vehicle has been at the dealer, so I'll focus on the cars that have been there a while. Thanks.

vetteshark

I was after a very specific build/color/options and the one I wanted was on the lot for only a few days so no doubt that impacted the ability to get a deeper discount.

Volley

I have a different take on this. Cars take a long time to sell because they are undesirable or over-priced. I searched for 2 months to find the 2021 RX 350 I bought 2 weeks ago. I made a list of must-have features (in my case blue or red with parchment, nav, premium package and pano-view monitor) and can’t have features (I did not want triple-beams because they are very expensive to replace and not covered by warranty). It appears that you, like me keep your cars a long time. If so, then paying a $1500 or so more for a CPO car from a Lexus dealer only equates to a $100 a year over the ownership period. For this, you get a low mileage car equipped the way you want it without having to fight for every last dollar from the dealer. In Florida (perhaps the same as California), 20-22 RX350s appear to be a commodity as most Lexus dealers have several. If you look closely, the desirable cars (good options, low mileage, private lease returns, 2 keyfobs, good maintenance and Carfax reports) are gone in a few days. I set a Cars.com alert for what I wanted and as soon as it appeared I checked with the dealer. This strategy finally paid off and I got what I wanted at a fair price. The car had just been listed that day and there was a couple who walked in behind us hoping we would not buy it. YMMV.