Price On 2002 Cpo Ls430

[flynnjo]

I just worked out a deal to purchase a 2002 CPO LS430 with 15k miles on it for $51.8k. This was outfitted with the ultra luxury package. Is this a good deal? I ahve never owned a lexus before and do not know how depreciation and resale on this brand works.

Thanks.

[98OysterES300]

I just worked out a deal to purchase a 2002 CPO LS430 with 15k miles on it for $51.8k.  This was outfitted with the ultra luxury package.  Is this a good deal?  I ahve never owned a lexus before and do not know how depreciation and resale on this brand works.

Thanks.

←

You paid the average price you can expect from a dealer on that model. In my area, Blue Book Value on your car is 53,500. Private Party Sale Value is about 48,000. So if you paid 51,800 its fair market value for the car. As for depreciation, Lexus holds its value, pretty well even after the car changes body styles, so you made a good choice. Enjoy your new car!

Oops, just realized that you said CPO, so you definately got a good deal (6yr/100000mi warranty). Dealers don't usually budge from Retail Value when the car is CPO, so you're getting a used car with a better warranty than it came with brand new for roughly 1500 under retail value.