rx2man Posted September 26, 2004 Share Posted September 26, 2004 I have been working with a salesman at Lexus of Seattle in Lynnwood, Wa. for a few weeks now. He called me yesterdaly with a 95 LS400 77k, moonroof, regular sound, and in great condition. I looked at edmunds and kelly blue book, a retail private party price of 11400 was about average. When speaking with the salesman he said they had put tires on it and detailed it. When we start talking price and he goes to the manager he comes back with a list of items replaced or fixed. New factory stereo, lower ball joints, 60k service, wipers, lugnuts, detailing, rear brak pads and sensors. maybe some othe misc. stuff. Nothing about the new tires though. Question is will a Lexus dealer really put this much into a used car? I know others will not. I took this as a ploy to get the price back up to 13700. I was also told I only qualified for 9.9% financing. Except that I called my credit union and was given 4.24% on friday. I was also told I had a beacon score of 757 and was a little insulted that they would try to play the interest game with me, after telling the sales person of my already approved loan. When the price had gone up to $11000 with no sign of us getting close to an agreement I left. It was obvious that they wanted significanly more. If they really put that much work into the car then I can understand them needing more out of it. However the paperwork produced was a print out from a computer, not actual service dept. paperwork. Am I being worked over here? I also dont see a need to pay more for a car than the private party price. I also mentioned to the salesperson that if the vehicle needed all that work did'nt it effect the trade in value. He did not know. I sort of assume that as they just got the vehicle in last week that they want to see if they can get more out of it. However a bird in the hand is worth more than 2 in the bush. Quote Link to comment Share on other sites More sharing options...
99lsguy Posted September 26, 2004 Share Posted September 26, 2004 That is one LOW, LOW mile 95 LS So that's why they're wanting the big bucks. The 60K service is nothing but filters & fluids - so its a cheapie for the dealer to do. Tires cost them nothin... Ball joints maybe $200..... Did they mention anything about the Timing Belt / water pump / etc.....? So, although it'd cost you a bunch, these repairs aren't a big deal or cost to them. It is also very typical. They won't CPO the car because its too old, but they're doing similar maintenance to put a good show on.......Lexus does want an up to date serviced car when they sell it - its what the do - and it's a good thing. Check the papers for similar year LS's to get a "real world buying price".... Quote Link to comment Share on other sites More sharing options...
rx2man Posted September 26, 2004 Author Share Posted September 26, 2004 There are other 95's but with alot more miles and people want crazy prices for em, 120k and they want $12k for it. Course they are still for sale as well. I looked in SoCal, where i will likely be moving soon and saw prices that reflected book prices for year and miles. So I may just wait. I would have purchased the car it looked brand new. But the dealer was stuck at the full dealer price for it. Quote Link to comment Share on other sites More sharing options...
rx2man Posted September 26, 2004 Author Share Posted September 26, 2004 Oh and no they did not mention the 90k service that is comming up, but I did. There was no comment on that from them. I was under the impression that with a slow economy, getting toward the holidays, new car deals to be had, etc. etc. that you could wheel and deal. Quote Link to comment Share on other sites More sharing options...
95LS400Bob Posted September 26, 2004 Share Posted September 26, 2004 The cold hard facts are: Any car you trade is brings wholesale book IF it is really immaculate and all the dealer has to do is wash the thing and detail it a little. Anything needing work brings "back of book" which is wholesale book less repairs needed to make it sell for retail. In other words..you give your trade away. How's the dealer get away with that? Simple. People selling cars don't want them anymore and are open to most anything. Knowing that...the dealer is in that Lexus very little. It's all about profit and just a matter of how much profit he wants to make. Wanting to buy a 77,000 mile (and that is a big deal...considered low mileage and people pay a premium for it) for private party value from a dealer is unlikely to happen. If you really want the car...I suggest you come up with a number...the max you will pay and be happy....Write that number and your phone # on a business card, hand it to the dealer and tell him to call you when he wants the money. You may drive it home. One thing is for sure with these Lexus cars. When (and it is when and not if) they need suspension work the costs of having these things worked on is absolute outrageous. If you are the type of person that is not hands on and not willing or unable to make repairs yourself (parts are still wayyyy expensive) then you better be sure any Lexus you look at is in absolute top condition and be willing to pay someone to go over every inch of that car before you buy it. Not that I don't like the 95 we have but seeing what others are spending on repairs here on the boards tells me you can get "upside down" financially with one of these cars real quick. Quote Link to comment Share on other sites More sharing options...
rx2man Posted September 27, 2004 Author Share Posted September 27, 2004 You confirmed what I thought as well, re: trade in etc. I dont want the car enough to pay more than private party book on it. Book gave it a little over $1k extra because of the miles on it. The sales person also has my # so I figure if they want to sell it they will call me with their best price. A dealer just down the street had a 99 w 60k on it and nakakichi, navigation, heated seats for private party book so I'll wait. As far repairs go, I generally work on my own cars. But am interested in a Lexus LS400 as I've been told they are one of the best cars in the world. Thanks everyone for their time. Quote Link to comment Share on other sites More sharing options...
95LS400Bob Posted September 27, 2004 Share Posted September 27, 2004 I don't blame you for only wanting to pay private party value. I couldn't agree more. When looking to buy that is what I did. I felt Private party value was a darn good offer. But seems like I was the only one for some reason. One lady had a 1994 she wanted $10,900 for. It was very nice and I think 90,000 miles. I offered $1000 over Private value...& she still turned it down. Good that you can do your own work and I am sure you'll like the Lexus cars. We like ours. I just made myself a little promise to inform people buying these cars that even though touted as one of the best cars in the world...they have got weak points that are expensive to fix. Quote Link to comment Share on other sites More sharing options...
SW03ES Posted September 27, 2004 Share Posted September 27, 2004 Lay it out for them and make them work for it. If you've really decided on the car then let them know it, all they have left to do is get in on your price, private party book which is fair. Agreed that they're not into the car very much, they probably stole it off some 75 year old woman. Its the person that trades it in who pays for reconditioning, not you. As for the % rate, they may not be able to finance you except at 9.9, 757 is an excellent credit score. Credit unions usually have WAY lower rates than dealers, ESPECIALLY on used cars. The dealership goes through Lexus Financial Services which usually doesn't have very good rates, even on new cars. So let them know, you're going to finance with your credit union, this is your price if you two can reach an agreement you'll pick it up tomorrow. Quote Link to comment Share on other sites More sharing options...
SW03ES Posted September 27, 2004 Share Posted September 27, 2004 I was under the impression that with a slow economy, getting toward the holidays, new car deals to be had, etc. etc. that you could wheel and deal. Couple problems with that. Two things the slow economy has yet to hurt are real estate sales and automobile sales, especially luxury car sales. Americans may be making less and spending less, but not on homes or cars. Also, this time of year is pretty good in the car sales business. The best month to buy a car is January, a lot of car salesman make $0 in January it is the worst month in the car business. Quote Link to comment Share on other sites More sharing options...
rx2man Posted September 27, 2004 Author Share Posted September 27, 2004 You know if the car was a 55 Chevy I would not be all that wound up over a couple grand. There are not that many left. And with late model cars there are so many out there that you can walk away and continue the search. I've also looked at Acura Legends and so far the Lexus LS400's seem to hold up better. I really have noticed the difference in leather set wear. The Lexus's look almost new but the Acura of the same yr and milage just looks more worn. I figured I'd let them sit on the car a bit. If they sell it oh well. If not then I think I'd get a call from the salesperson. Looks like I might be waiting till later in the yr to purchase a car as well. thanks to all for responding Quote Link to comment Share on other sites More sharing options...
LinuxFan Posted September 27, 2004 Share Posted September 27, 2004 This is not strange at all... the dealers do this and even with the financing -- even if they can get you a good rate the mark it up and keep the difference the bank gives them. Go with your credit union -- it is what I always do and it works out better all the time, over what the dealers can offer. In Southfield, Michigan the dealer has a black 95 with 97,250 on the odometer and they want 13 grand for it. It has been sitting on the lot now for over a month. After reading here about January being a squeezer month for them, I might just take another stab at it.:-D Anyway, I agree with all that has been said thus far. Stick to your feelings and wait until something comes along that is nice enough to cause you to part with/take on the loan for the car. best to you Quote Link to comment Share on other sites More sharing options...
Lexicon Posted September 27, 2004 Share Posted September 27, 2004 Newbie here.... This trying to buy a LS 400 used is a real pain. I have been searching for a month for the right and no luck yet. I have been looking in the Charlotte, NC and I can't find a decent 93-6 LS400 that is not over priced... I saw one with a 90 with 302,000 for $8,000 That guy was NUTZ!!!... So I just educate myself better and keep looking and readng these boards for more information (thanks to all)....the search continues........... Quote Link to comment Share on other sites More sharing options...
rx2man Posted September 29, 2004 Author Share Posted September 29, 2004 I'm looking at another tonight, from a private party, lady said its perfect and has it in the paper for 13300, spoke w my bank and they said the loan value on one is 13400 anything better is gravy. The one tongiht is 78k silver 95 moonroof. So we'll see what happens. Quote Link to comment Share on other sites More sharing options...
SW03ES Posted September 29, 2004 Share Posted September 29, 2004 Cool, let us know. Quote Link to comment Share on other sites More sharing options...
rx2man Posted September 29, 2004 Author Share Posted September 29, 2004 No go, the arm rest was scratched up, cigarete burn mark covered up on pass seat, the tranny indicator selector was all cloudy, scratches in paint. No 6 disc in the glove box. outside wear on the front tires. pass mirror paint was weathered, rear bumper had cracks in the paint, alot of wear on it. outside car. engine ticked at idle cold, did not take it for a test drive. 13300 seemed too much. The dealer car is in excellent condition with a price that reflects it, the search continues. Quote Link to comment Share on other sites More sharing options...
LinuxFan Posted September 29, 2004 Share Posted September 29, 2004 Yeah -- I would pass too... and to think, you did not run the VIN as yet. Wonder what you might have found there. Oh well. Hope you find one soon. The low mileage is enticing though.:-D Quote Link to comment Share on other sites More sharing options...
cel Posted September 29, 2004 Share Posted September 29, 2004 Hi Rx2man, I have one for sale if you're interested. 96 LS400 55.8k miles 2nd owner 1st owner was older lady Email me at sir_kin@yahoo.com for more info if you like. i'm in the southern cal area. Quote Link to comment Share on other sites More sharing options...
craigamuir Posted September 30, 2004 Share Posted September 30, 2004 What the suspension nightmares that we have to look forward to? Quote Link to comment Share on other sites More sharing options...
acf Posted September 30, 2004 Share Posted September 30, 2004 Newbie here.... This trying to buy a LS 400 used is a real pain. I have been searching for a month for the right and no luck yet. I have been looking in the Charlotte, NC and I can't find a decent 93-6 LS400 that is not over priced... I saw one with a 90 with 302,000 for $8,000 That guy was NUTZ!!!... So I just educate myself better and keep looking and readng these boards for more information (thanks to all)....the search continues........... Man, did I have the car for you a few months ago. ;) Quote Link to comment Share on other sites More sharing options...
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