Best Time To Buy Late Model Ls430?

[ECUPirate]

Hi all. I've been lurking here for a while now, and I've decided to take the plunge. I want an LS430, though a new one is out of the question at this time.

Well, the 2005s are out, so I would expect that the 2004s would be a lot cheaper, but they aren't. When might this big price drop happen? I would expect a 5-6K difference in price. I'm really shopping for a 2002 (or so), and I'd think that when the 2004s drop the 2002s will do the same. I always thought that December was the time to buy cars, but someone just suggested that I wait until Spring to get my used car.

Also... price. The 2002s should be coming off their 3 yr leases about now. The ALG residual value for the LS430s should be 55% of original MSRP, so a $60K 2002 model should be $33K or less at wholesale. However, most dealers are offering the 2002s at $42-46K. Is it unreasonable to think that I may be able to get one for under $35K?

I drove a 2005 w/ the 18" wheels the other day. I found the ride to be a bit more harsh than what I was expecting (though still nice). I like the looks of the 5 spoke 18s... do they make a similar 17"?

To bad I can't spring for an 04. I prefer the new styling. Anyone know anyone that'll sell me a mint condition 2004 for under $40K?

Any other advice would be appreciated. Nice forum, BTW.

[rvgraham]

Check the price difference between CPO cars at dealers versus wholesale prices. The CPO warranty is much better than most brands, and might be worth the difference.

In my '99, I've already had my radio head unit, a defective windshield washer level sensor and a power window motor/regulator replaced under the CPO warranty, and I've still got 36,000 miles left. These minor things can add up to quite a bit in a couple of years even with a car as reliable as a Lexus. Most CPO warranties only cover powertrain, the Lexus covers the whole car for the duration. What's not covered is broken trim, minor noises, wear items. For instance there's a hairline crack in the finish of my wood steering wheel that would be covered under new warranty, but not under CPO. (I tried, they only offered to share the cost.)

The Radio only had a couple of LCD segments missing, the power window still worked fine but made a clicking noise, and the washer fluid sensor sent false "empty" notifications from time to time, but they replaced all of them with new parts, except the radio which is refurb even if your car is new.

I don't know if you have cash or better credit than mine (700 ish) but the dealer was able to push me through Lexus credit at 7%, I'd have paid 9-15% anywhere else.

My dealer also treats me like a King, free loaners with essentially free gas (you don't have to bring it back with same as it left). That's also worth quite a bit.

I paid $27,500 back in June, with 50k on it. Even if I had a friend in business take me to the dealers auction, I would have had to pay $24K for the same car here in SF bay area. I think the $3500 will melt away with the better interest and other benefits mentioned above.

Bob

[ECUPirate]

You can do that? I do have a friend in the business, though I haven't consulted with him yet. (I wanted to get my ducks in a row, so to speak). He could take me to a dealer's auction and I could pick my car and pay wholesale? Does anyone know more about these?

I could pay cash if used APRs exceed 5.5%.

[navgator]

Hi all.  I've been lurking here for a while now, and I've decided to take the plunge.  I want an LS430, though a new one is out of the question at this time. 

Well, the 2005s are out, so I would expect that the 2004s would be a lot cheaper, but they aren't.  When might this big price drop happen?  I would expect a 5-6K difference in price.  I'm really shopping for a 2002 (or so), and I'd think that when the 2004s drop the 2002s will do the same.  I always thought that December was the time to buy cars, but someone just suggested that I wait until Spring to get my used car. 

Also... price.  The 2002s should be coming off their 3 yr leases about now.  The ALG residual value for the LS430s should be 55% of original MSRP, so a $60K 2002 model should be $33K or less at wholesale.  However, most dealers are offering the 2002s at $42-46K.  Is it unreasonable to think that I may be able to get one for under $35K?

I drove a 2005 w/ the 18" wheels the other day.  I found the ride to be a bit more harsh than what I was expecting (though still nice).  I like the looks of the 5 spoke 18s... do they make a similar 17"? 

To bad I can't spring for an 04.  I prefer the new styling.  Anyone know anyone that'll sell me a mint condition 2004 for under $40K? 

Any other advice would be appreciated.  Nice forum, BTW.

←

They'll be gone before they come down...few dealers ever have leftovers and never is there an incentive or rebate on LS430. Buy a 05 and pick the options and color you want.

[SW03ES]

The best time to buy a car is January. January is the slowest month of the year in the car business, some salespeople go through an entire January and don't sell one car.

[rvgraham]

You can do that?  I do have a friend in the business, though I haven't consulted with him yet.  (I wanted to get my ducks in a row, so to speak).  He could take me to a dealer's auction and I could pick my car and pay wholesale?  Does anyone know more about these?

Depending on your geographical area, you might find yourself competing with a lot of dealers paying more than 90% of retail for LS 430's, frequently because they have a ready buyer in the wings and the car never goes to a lot for sale. Mine came off lease and then was snatched up at auction by Stevens Creek Lexus and sold to me a day or two after they re-conned it and got their paper work done.

Also, the auctions frequently "officially" disallow bringing retail buyer companions to the auction. A friend of mine who recently bought a car that way was actually wearing the dealer's wife's badge!

Bob

[bartkat]

I wouldn't touch an auction car with a ten foot pole.

[99lsguy]

ecu,

to get an 02 for less than $35k is really pushing it....very doubful @ dealer, but they should get to the $37-8K range via negoiation....

I agree with SW than Jan/Feb are good times to get best deals....Christmas bills on Credit is due, taxes have been paid by 12/31, etc...and people are out of available cash to get a vehicle.

Personal property wise, it's also better to wait until after Jan 1 to get a car.....unless the dealer will write it up like that and give you an offer you can't refuse...

[ECUPirate]

I would imagine that a good number of the used LSs came from lease auctions rather than from straight trade-ins, yes?

Do you get time to inspect the cars before bidding? Can you run a carfax report and walk away from the auction if the title isn't clean? How does it work?

Might the Lexus "December to Remember" event has some impact on used or CPO cars?

...I'd like to think of 2004 as the year I bought a house, a Steinway, and a Lexus. I'm having a mid-twenties crisis. <_<

[bartkat]

Dealer auctions are a sort of last resort to move a car that won't sell on the dealers' lot for whatever reason.

Also keep in mind that as new car prices go up, used car prices get adjusted accordingly, so used cars that are in demand, like a 02 LS, don't lose value as fast on the actual used car market.

Also, if you look at 02 models like on AutoTrader you'll see that mileage is the biggest factor in asking price, all other things equal.

[bartkat]

Go here and plug in your preferences and you should get a price that's pretty close.

http://www.edmunds.com/tmv/used/index.html...dex..3.1.lexus*

[ECUPirate]

&#33;Removed&#33; HELL...

2002 Lexus LS 430 4 Dr STD Sedan

Trade-In - Private Party - Dealer Retail

National Base Price $35,216 $37,462 $41,206

Optional Equipment $2,899 $3,086 $3,775

Heated Front and Rear Seats $386 $411 $503

Mark Levinson Audio System $618 $658 $805

Ventilated Seats (Front) $499 $531 $649

Navigation System $997 $1,061 $1,299

17 Inch Wheels - Chrome $399 $425 $519

Color Adjustment

Black $102 $108 $119

Regional Adjustment

for Zip Code 20852 $-219 $-233 $-256

Mileage Adjustment

35,000 miles $0 $0 $0

Condition Adjustment

Outstanding $1,229 $1,245 $1,402

Total $39,227 $41,668 $46,246

Certified Used Vehicle $50,003

BY THE WAY, WHEN DID THE COLOR "FLINT MICA" COME OUT? I LIKE IT.

[ECUPirate]

Also, the main reason I'm considering the 2002 over the 2001 would be so that any kinks with the first model year could be worked out. Given that the 2001 has been out for 4 years now, should this even be a concern? I mean, if the 2001s had lots of problems, I would have probably heard about it by now, right? I'm aware that the 2002 improved airflow over the windshield or something, but how severe could the noise have been on the 2001 in the first place? Does anyone know any reason why I wouldn't want to just get a 2001? There are certainly lots of them for sale as opposed to 2002s.

[GRAND_LS 4]

Also, the main reason I'm considering the 2002 over the 2001 would be so that any kinks with the first model year could be worked out.  Given that the 2001 has been out for 4 years now, should this even be a concern?  I mean, if the 2001s had lots of problems, I would have probably heard about it by now, right?  I'm aware that the 2002 improved airflow over the windshield or something, but how severe could the noise have been on the 2001 in the first place?  Does anyone know any reason why I wouldn't want to just get a 2001?  There are certainly lots of them for sale as opposed to 2002s.

←

At the Auction, i see '02's going for 28K-32K all the time W/50k miles.

EDIT: 17inch wheels were std on 02's.

[Lexusfreak]

The best time to buy a car is January. January is the slowest month of the year in the car business, some salespeople go through an entire January and don't sell one car.

←

I agree with sw......that's when I bought my ES. It won't hurt either to go later on in the evening like after dinner & stay till the dealership is about to close......& near the end of the month is a good idea (3 - 5 days left in the month as they want to do the actual delivery to you as there are quota's & such). B)

[doublesharp]

I've bought a 2000 GS400 and a 96 LS400 on eBay and am well satisfied with both cars and saved considerable money too.

[SW03ES]

LF- I make a comission on every car a dealership I contract with sells and I make WAY less money in January than I do other times of the year. January is really slow...

bart- No reason to avoid an auction, thats how the dealerships get most of their cars in the first place. You're thinking of seizure auctions or something like that, dealer auctions are nothing like that. Say you trade a Mercedes into the Lexus dealer, it goes to auction because they don't want to sell it on their lot. Nothing wrong with the Mercedes, the dealership just isn't interested in it.

[99lsguy]

LF- I make a comission on every car a dealership I contract with sells and I make WAY less money in January than I do other times of the year. January is really slow...

bart- No reason to avoid an auction, thats how the dealerships get most of their cars in the first place. You're thinking of seizure auctions or something like that, dealer auctions are nothing like that. Say you trade a Mercedes into the Lexus dealer, it goes to auction because they don't want to sell it on their lot. Nothing wrong with the Mercedes, the dealership just isn't interested in it.

←

Bart,

this is how I bought my LS....they had about 8 LS400's lined up back to back --- a strictly "lexus" auction line with other lexus dealers bidding too..... Mine checked out great ....as is today :D

[ECUPirate]

When you go to one of these auctions, at what point do you get to run a CARFAX report? How do the auctions work?

I recently had a friend/salesman offer me a 2002 LS - loaded - w/ 41K miles for $38.6K. I think I can do better at auction.

Do you think there would be substantially less competition from other buyers at a January auction vs. a December auction?

Anyone else have Ebay experiences?

[SW03ES]

Not neccisarily as people are buying in January to stock for Feb. You'd probably do better in Dec.

[jvcn]

What do you know about some of the guys who serve as buyers from auctions and then charge a fee?

There's a guy on the internet (I don't know if I can post the website) named Burke Leon who offers to get you a car from Mannheim, etc. and you pay all fees, taxes, plus his cut. I was thinking of going with him at first, but decided to really lowball the car I bought and am quite happy with the Ebay purchase I got myself. It's just not worth going to a middleman for lower priced cars. But if his system works well, it might be worthwhile checking out this sort of service for those buying used cars over $20k who can't get into a dealer auction and don't live near a big city with lots of cars for sale.