OK this is kinda long so I apologize, and hope I can explain. I have a BMW, I want a 2022 Lexus 450h. The dealer (2 hours from me) have them coming in (in transit). All are loaded down with the same packages $14K worth. Some have an added accessory pkg some do not. He gave me a list of ones NOT spoken for. Had me choose one and thru their "Monogram" link. One portion of the link was for my trade... Which came out to $54xxx (ish)..Its worth more but you know how that goes. So when finished the guy says I can put down a $1000 non refundable deposit. I told him no problem..BTW the car I chose was Nebula Grey....The new car wont be at the dealer till Sept/Oct.... I understand that.BUT heres the deal...Since my car wont be worth the same amount in 2 months, he cant tell me a trade amt till the car gets here.. Im like...Im paying MSRP for your car and you wont give me the current market vause cause your car wont be here for 2 months? How is that my fault that your car wont be here? I mentioned that this might be a good opportunity to allow people a break on accessories, or I even mention that they buy my car night now then loan it to me as a service loaner.....or loan me any car....Thought and ideas please!!!!

 

Non-refundable deposit would be a deal-breaker for me. If these cars are in such demand, the dealer would have no problem finding another buyer if you were to cancel. Run.

 

I can only add that I had a similar situation with regard to the amount of time between the trade-in agreement and the arrival of my new RX F-Sport.

After waiting 6 weeks for my new car, there was no change in the deal...I was given the same trade-in price I was originally quoted AND they took $695 off the final cost by not installing some sort of after-theft tracking device.

As a side note, on the way to pick up my new RX a large stone was thrown up from the truck ahead of me, and as I abruptly turned to avoid it the stone hit the side of my NX that I was trading in and caused a 4-inch scratch. When I dropped off the NX at the dealer to swap for the RX, they didn't even do an inspection of the trade-in before we completed the paperwork and I drove off the lot.

 

That happen to us at a Toyota dealer, the salesperson said a non-refundable deposit. We decided to leave the dealer thereafter. It's like buying air if you give them money, IMO.

 

Thats a question I should have included in my original post. How common is it to ask for a non refundable deposit....Theres another dealer in same town but they have zero coming in..then across state there is one. But he asks over MSRP..

 

Depends on how bad you want that vehicle I guess. I’m buying a new Mustang GT and there is a dealer in IA offering 4% below invoice on new orders with a $1k non refundable deposit. Found another dealer in PA that offered 3% below invoice with no deposit necessary. I chose the PA dealer. With the new 2023 on its way and sporting only a 4 cyl engine, there is a lot of speculation that the 6cyl RX will fly off of dealerships lots. Personally I don’t see that happening.

 

I'm just thinking or loud:

Interest rates are going thru the roof. This affects mortgage and car payment rates. At the same time car prices went through the roof.

There just aren't that many millionaires in north America to afford that much increase in monthly payments. This bubbles will collapse soon and crazy prices and these games will end.

Just my observation.

 

I purchased a Toyota for my son at MSRP (not a penny over and no add-ons and we put a deposit full refundable also. I guess it depends on your dealers around your area and how greedy the dealers are.

 

Probably best to get the RX now than later when the rates are higher if you're getting a loan. If you are paying cash, well good deals will eventually come if you have patience.

The Fed Reserve wants to slow down the US economy, they will hit short term rates hard. Even at 8.5 CPI is very high inflation (it was 9.1 I think a month ago), my prediction they will keep raising rates for a long time before it gets to CPI of 2. By that time, we maybe in a bad recession and stocks will be down a lot also. There will be deals then but that would be many months in 2023. Stocks will rebound when Feds notices the recession. There is too much free money out there, QT is just starting lately and feds are taking money away.

 

"Interest rates are going thru the roof."

What are ways you can tell people who weren't around for the 1980's, Alex.

 

I remember interest rates of 17% on home mortgages back in the early 80’s.

 

Well, we’ve managed to turn this into another irrelevant thread of nothing but off topic discussions.

 

I live in S.C. The closest Lexus dealer is 2+ hours away. Most are in the 3 hour range from me. I have called (several times) to at least 10-11 dealers in South Carolina, North Carolina and Georgia. Most are still adding their “ environmental package “ or “protection package at a premium of $1200-$2500. No Discount!
After several conversations I have found 2 stores selling at MSRP …nothing added but tax, tags. And 3 stores will to drop their add-ons. So the best deal I can find so far on a 2022 is MSRP. Where are these deals someone spoke of…$1500 discount plus $2500 rebate?

 

Like you, I have been unable to find any significant discounts either. Spoke with Gavin at Johnson Lexus in Raleigh the other day and they are selling at MSRP and have no add ons other than the typical tax, tags and doc fees. But they are just l8ke most of the other dealers out there and have only minimal inventory on hand. But, they have over 60 RX350 coming in. Can’t imagine how anyone got $2500 rebate. Most I can see is $2000 and that’s only if the $1000 college grad and the $1000 military rebates are stackable. I see no reason to jump at this point. The market is softening on used and eventually production on new will pick up. I bought my 19 at a December to remember event and managed to get $10k off MSRP. As the used market softens more I expect new sales to slow and we could still see some discounts in a few months time.

 

Two things are true on internet vehicle forums:

1. Someone will always get a "better" deal than you, and brag about it, and then fail to provide any documentation of said deal, or fail to mention their trade in, or something similar that makes the deal not able to be replicated.
2. People will fixate on "Out the Door" pricing, which is not comparable in any way, unless you are comparing deals for people from the same citystate / tax jurisdiction.

These issues are much less common with an experienced forum and it's members, but occur on all of them at some level.

Don't worry about any of it, get the best deal you are happy with and enjoy the vehicle.


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