JJRHO

Hi guys, have a 02 sc430, silver/ecru, 59K miles, had a 42 month lease at $850/month, no cap reduction , first month pay on drive off, CEL RV of some $35K..... 12K miles/yr...obviously i'm over but that was my intention.... i commute with this and so far, i still plan on buying this...
I'm hoping to negotiate a better buyout price than the end of lease RV that was set.... i know it's possible.... i will at worst buy at the set RV but i hear that it's actually negotiable... they know that if i return the car, with the high mileage, they are gonna get <$30k at the auction.... course, they could try to 'recoup ' the difference from me on over mileage charge, which could add upto some $4k.... i'm NOT gonna tell them the exact/actual milege - to protect my position.
currently, the so calif auctions are seeing the 02 sc430s at $35-40K for below avg. mileage cars......

so, in a year and a half or so.... how do i approach them for my above intention?
any of you guys have experience doing this with lexus/toyota credit company???

j.rho
02 sc430

91 accord SE, 159K miles/mint - bought p lease and still like 'new'....
03 S500Sport
95 nsx-T
02 yukon XL
03 CRF450, 02 yz250, 03DRZ250,

rominl

iTrader: (4)

personally i haven't heard about the RV negotations before. i thought its in the contract so it's not negotiable. but then again i have never gone through a lease before so i can only guess.

i think though, if you are going to negotiate with them about the buy back, they will have the right to inspect the car and also look at the mileage, otherwise it's pretty useless for them to talk to you about the buy out price? with that info, they know say if there are dents or damage, and also if they will charge you on the over mileage, and they will judge it that way

let us know how it goes, this is one interesting topic

JJRHO

yeah, i wanted to see if anyone's gone through my situation.... i knew what i was getting into...
my car is LIKE NEW despite milage, 70% brake pad still...etc... so, i'm gonna buy it but trying to see how i can buy it for less than contract RV...i know it's done with honda financing company....
the other option is for me to return the car, for which i will get hugh charge, 12c/mile. for the over mileage, then go bid on my own car at the auction....where i could lose it to someone else...

the car is just too good to sell back...i want to keep it...

i don't have to deal with this for another year but....

any info/experiences/would be appreciated....

j.rho

rominl

iTrader: (4)

just curious, you can go to auction to buy your car? you are a dealer?

kasendorf

Anything is neotiable. You say that your buyack is $35K. What are 2002 SC430's going for with normal mileage (approx 42,000 mileage)? That is the number that you should be looking at in determining the resale value of the car. I checked Kelly Blue Book and a 2002 with 42K miles has a trade-in value of $36,650. With 59K miles it is $31,950. Auction pices would be less depending upon demand. Having said all of that I am not sure how much les they would go, perhaps $500 to $1000. You might try making an offer and seeing it here it takes you. As far as buying back from an auction, auctions are closed to registered dealers. Good luck.

rominl

iTrader: (4)

very nice analogy there! so i guess at the end of the lease, you just ask the dealer to offer you a price huh?

JJRHO

that's right.... my lease isn't up for another year so the car would be worth even less at esp. the high mileage....probably 80K miles by then....
i should be able to negotiate to <30K by then....

anyway, yeah, i have someone that goes to the riverside highline auction every month and buys cars...

you get a list of all cars coming up for sale...or most of it... and also a list of what each sold for the month before.... 3-4000 cars per month go through.... some exotics too...
if you know what you want, it's a good way to buy.... pay $1000 or so for his service but you can save 5-10K so...it's worth it...

jR

rominl

iTrader: (4)

oh that's awesome man, so if i want any car, i should tal to you in private then

jsl757

iTrader: (8)

I've been to the Riverside Auction a few times since my dad and uncle have dealers licenses. They have every car imaginable, last time I saw a few Ferrari's (mostley modenas), Lamborghini's (murci & gallardo), sat in the back of a Maybach etc. Its pretty crazy because they have like 10 lanes going at once. I remember one time they had a SL55 followed by a CL55, E55 and CLK55, all silver and in order. I just checked the Manheim site and the next Riverside auction is Feb 3.

Riverside is the big one in California but a lot of the Lexuses are auctioned in the Bay cities auction in Hayward. If your ever driving on 880 just south of the 92 freeway and see a crap load of cars thats it. Next week they have a black '02 sc430 38k miles. If it sells I'll let you know what it went for.


Jeff

JJRHO

yeah, it's pre crazy there.... 1 car a minute or less....
i'd lke to know what that sc goes for.....

btw, i noticed you have the injen intake...i was thinking of that 2 yrs ago....just never did it...
how is it? i 'd like a just a tad more growl on the exhaust side...but the intake could add some nice noise too.... any noticeable power increase?

02 sc430 lux link, 5 spoke wheel cover
jim R
jjrho@adelphia.net

jsl757

iTrader: (8)

Truthfully, I'm pretty sure the hp gain on the intake and exhaust is minimal. When I am able to open the car up at wot it makes a great sound, which is worth the price of admission imho.

Jeff

I sent you a pm with the prices for the sc's at auction.

rominl

iTrader: (4)

yeah let us know, jeff, i think it would be interesting to know. oh and please check pm

JJRHO

hi jeff, thanks for the info via PM....

i will consider steve's work with the supercharger but in the mean time, yeah, if i can get some nice noise on wot, that's all i'd need....
there's a hint of growl on decel that i can detect but wish it was louder.... and the intake side is QUIET alright....

injen i'm familiar with somewhat but what exhuast do you have ?


jim R