Lexus Certified Pre-owned

[ZINFANDEL22]

LEXUS CPO ,Is this a better idea than buying from private owner? What exactly are the benefits ,and would you purchase a new lexus or save $10,000.00 and get a 3 year old cpo lexus? Just something i'm contiplating at this time ,and could use some other oppinions from lexus fans. I am looking at an ES330 if that helps?

[mburnickas]

LEXUS  CPO  ,Is this a better idea than buying from private owner? What exactly are the benefits ,and would you purchase a new lexus or save $10,000.00 and get a 3 year old  cpo lexus? Just something i'm contiplating at this time ,and could use some other oppinions from lexus fans. I am looking at an  ES330 if that helps? 

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easy I would more then likely buy a CPO before new.

[ZINFANDEL22]

LEXUS  CPO  ,Is this a better idea than buying from private owner? What exactly are the benefits ,and would you purchase a new lexus or save $10,000.00 and get a 3 year old  cpo lexus? Just something i'm contiplating at this time ,and could use some other oppinions from lexus fans. I am looking at an  ES330 if that helps? 

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easy I would more then likely buy a CPO before new.

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Good to know MB, what about a 2001 over a 2002 with the 5 sp overdrive?

[Lexusfreak]

Good to know MB, what about a 2001 over a 2002 with the 5 sp overdrive?

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2 different generations......I have a 2001 (last year of the smaller body style) & no recalls or problems. Most 2002 owners are a very happy bunch as well......having said that, there is a tranny hesitation issue with pretty much all 5 speed auto's right up to the 2006 model year. There are software upgrades & such however. There is a massive pinned thread of the problem....check it out. B)

I would personally buy a CPO Lexus from a dealer than from a private party. ;)

[98es]

I agree, CPO is the way to go. We're happy with our 02 ES300 CPO w/the 3 yr/100k mile warranty. You might want to check out the Transmission hesitation thread to see what your getting into. I personally don't see it as a huge problem, but to each his own... good luck.

[jragosta]

LEXUS  CPO  ,Is this a better idea than buying from private owner? What exactly are the benefits ,and would you purchase a new lexus or save $10,000.00 and get a 3 year old  cpo lexus? Just something i'm contiplating at this time ,and could use some other oppinions from lexus fans. I am looking at an  ES330 if that helps? 

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It's all a matter of personal opinion. Some people love CPO, but I think they're a lousy deal. You get a used car but it's very nearly as expensive as a new one. I would never spend the money on a newer CPO. You just don't save enough to make it worth while IMHO.

If you can save $10 K, it might be worth while, but I've never seen a CPO deal that good. First, figure that you can buy a new one for less than list. If you compare the car to the price on an identical new one, the CPI is rarely that great a deal.

[ZINFANDEL22]

LEXUS  CPO  ,Is this a better idea than buying from private owner? What exactly are the benefits ,and would you purchase a new lexus or save $10,000.00 and get a 3 year old  cpo lexus? Just something i'm contiplating at this time ,and could use some other oppinions from lexus fans. I am looking at an  ES330 if that helps? 

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It's all a matter of personal opinion. Some people love CPO, but I think they're a lousy deal. You get a used car but it's very nearly as expensive as a new one. I would never spend the money on a newer CPO. You just don't save enough to make it worth while IMHO.

If you can save $10 K, it might be worth while, but I've never seen a CPO deal that good. First, figure that you can buy a new one for less than list. If you compare the car to the price on an identical new one, the CPI is rarely that great a deal.

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I have read the trany thread wow!!!!!! that was crazy however I was feeling the cpo was a great thing but have to agree the prices for a 2003 and 2004 are $28,000 -%30,000 . This is far from trade in value of $20,000 and $23,000. I have no idea of course what price i would pay but it worth something for the peice of mind of 3 yr warrenty ,but i am looking at 23 yr old cars closer to 30,000 than 20,000 where I think they should be.

[98es]

It's all about finding the right deal. We bought our '02 6 months ago. It had 45k miles on it and paid $23,000 incl. taxes(CPO from dealership). The odd thing was all the other CPO cars were lease turn ins and they wouldn't give us a good deal on any of those. The one that we got the best deal on was the same car as the others, the only difference was it was a trade-in and not a lease turn-in. The CPO warranty is almost exactly like the new car warranty, so you can bring it in for anything. Good Luck.

[jragosta]

It's all about finding the right deal. We bought our '02 6 months ago. It had 45k miles on it and paid $23,000 incl. taxes(CPO from dealership). The odd thing was all the other CPO cars were lease turn ins and they wouldn't give us a good deal on any of those. The one that we got the best deal on was the same car as the others, the only difference was it was a trade-in and not a lease turn-in. The CPO warranty is almost exactly like the new car warranty, so you can bring it in for anything. Good Luck.

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Let's take that as an example. A brand new ES can be purchased for $32 K or less. You save $9 K - by buying a car that has been driven 45,000 (well over half of the mileage I would use a car for) - and those are the best (lowest cost and newest) miles. Plus, your car is 4 years old right off the bat, has a smaller engine than the new ones, and so on.

Personally, I don't think that's a great deal - and yours is one of the best CPO deals I've seen. The average CPO deal is much worse.

[jragosta]

LEXUS  CPO  ,Is this a better idea than buying from private owner? What exactly are the benefits ,and would you purchase a new lexus or save $10,000.00 and get a 3 year old  cpo lexus? Just something i'm contiplating at this time ,and could use some other oppinions from lexus fans. I am looking at an  ES330 if that helps? 

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It's all a matter of personal opinion. Some people love CPO, but I think they're a lousy deal. You get a used car but it's very nearly as expensive as a new one. I would never spend the money on a newer CPO. You just don't save enough to make it worth while IMHO.

If you can save $10 K, it might be worth while, but I've never seen a CPO deal that good. First, figure that you can buy a new one for less than list. If you compare the car to the price on an identical new one, the CPI is rarely that great a deal.

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I have read the trany thread wow!!!!!! that was crazy however I was feeling the cpo was a great thing but have to agree the prices for a 2003 and 2004 are $28,000 -%30,000 . This is far from trade in value of $20,000 and $23,000. I have no idea of course what price i would pay but it worth something for the peice of mind of 3 yr warrenty ,but i am looking at 23 yr old cars closer to 30,000 than 20,000 where I think they should be.

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The $28-30 K you're citing is closer to the price that my local dealer wants for CPOs. Given that you can get a new one for $32 K, I'm not impressed.

[ZINFANDEL22]

It's all about finding the right deal. We bought our '02 6 months ago. It had 45k miles on it and paid $23,000 incl. taxes(CPO from dealership). The odd thing was all the other CPO cars were lease turn ins and they wouldn't give us a good deal on any of those. The one that we got the best deal on was the same car as the others, the only difference was it was a trade-in and not a lease turn-in. The CPO warranty is almost exactly like the new car warranty, so you can bring it in for anything. Good Luck.

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That is one of the better dealsI have seen. I agree spending 10 grand more and getting 4 year newer car with zero miles sounds to be more logical, if of course the person can afford it? Saving 10 grand and driving a es300 with 3 year full warrenty is still a nice thing. I just have not seen the 23,000 price being offered unless these 28,000 vehicles are going to come down to 23,000. Great piece of knowledge though about you only getting that deal on a trade in vehicle,cuz a 02 with 45,000 on a trade is worth....18grand.I am not sure what a lease is value is at the end of the by out offer.

[98es]

Let's take that as an example. A brand new ES can be purchased for $32 K or less. You save $9 K - by buying a car that has been driven 45,000 (well over half of the mileage I would use a car for) - and those are the best (lowest cost and newest) miles.  Plus, your car is 4 years old right off the bat, has a smaller engine than the new ones, and so on.

Personally, I don't think that's a great deal - and yours is one of the best CPO deals I've seen. The average CPO deal is much worse.

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CPO or not, these cars bring top dollar in the used car market. I agree, if you have the $30k to spend, go for a new one. But those of us who only want to spend $20-$25k cannot afford a new one. Personally, I would rather have a car thats possibly a year older with a few more miles, and have it certified until 100k. Edmunds values for the '02 ES puts dealer retail at $24,000. Certified on edmunds is around $26,000. I think the point your missing is that these cars bring big bucks cpo or not. You should be glad that they are asking top dollar and can get it!

[98es]

That is one of the better dealsI have seen. I agree spending 10 grand more and getting 4 year newer car with zero miles sounds to be more logical, if of course the person can afford it? Saving 10 grand and driving a es300 with 3 year full warrenty is still a nice thing. I just have not seen the 23,000 price being offered unless these 28,000 vehicles are going to come down to 23,000. Great piece of knowledge though about you only getting that deal on a trade in vehicle,cuz a 02 with 45,000 on a trade is worth....18grand.I am not sure what a lease is value is at the end of the by out offer.

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Well, one thing you have to realize is that I had done previous business with this dealership and salesman (Helped a family member buy an LX470). They were originally asking between $25-26k for the car, and we worked down from there. It was definitely a huge blessing finding this car, because it had been taken better care of than any lease vehicle would have been. (Previous owner had ALL fluids flushed at least twice by 45k).

I'm sure someone with more knowledge of how leasing works can explain why the price for the lease turn-ins is higher. Just know that you should not expect to pay near what they are asking. If you can find an honest salesman, after a little bit of dealing you can kind of get a feel of what they have in it and what you can get it for. Good Luck.

[ZINFANDEL22]

That is one of the better dealsI have seen. I agree spending 10 grand more and getting 4 year newer car with zero miles sounds to be more logical, if of course the person can afford it? Saving 10 grand and driving a es300 with 3 year full warrenty is still a nice thing. I just have not seen the 23,000 price being offered unless these 28,000 vehicles are going to come down to 23,000. Great piece of knowledge though about you only getting that deal on a trade in vehicle,cuz a 02 with 45,000 on a trade is worth....18grand.I am not sure what a lease is value is at the end of the by out offer.

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Well, one thing you have to realize is that I had done previous business with this dealership and salesman (Helped a family member buy an LX470). They were originally asking between $25-26k for the car, and we worked down from there. It was definitely a huge blessing finding this car, because it had been taken better care of than any lease vehicle would have been. (Previous owner had ALL fluids flushed at least twice by 45k).

I'm sure someone with more knowledge of how leasing works can explain why the price for the lease turn-ins is higher. Just know that you should not expect to pay near what they are asking. If you can find an honest salesman, after a little bit of dealing you can kind of get a feel of what they have in it and what you can get it for. Good Luck.

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Now 25-26,000 for a 02 with 45,000 is alot of cash. The 04's must be going for 3 grand less than new ones then? They sure hold there value, and yes it is a good thing if you own one and arent out looking for one.....lol If it was a normal car and I new trade in was 18,000 I would be trying to buy that car for 19-19,500 and thinking it was a fair deal. Without a warrenty of course.

[jragosta]

Let's take that as an example. A brand new ES can be purchased for $32 K or less. You save $9 K - by buying a car that has been driven 45,000 (well over half of the mileage I would use a car for) - and those are the best (lowest cost and newest) miles.  Plus, your car is 4 years old right off the bat, has a smaller engine than the new ones, and so on.

Personally, I don't think that's a great deal - and yours is one of the best CPO deals I've seen. The average CPO deal is much worse.

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CPO or not, these cars bring top dollar in the used car market. I agree, if you have the $30k to spend, go for a new one. But those of us who only want to spend $20-$25k cannot afford a new one. Personally, I would rather have a car thats possibly a year older with a few more miles, and have it certified until 100k. Edmunds values for the '02 ES puts dealer retail at $24,000. Certified on edmunds is around $26,000. I think the point your missing is that these cars bring big bucks cpo or not. You should be glad that they are asking top dollar and can get it!

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That's all true. But you're not going to get a 1 year old CPO for $20-25. Using Edmund's figures, a 4 year old CPO is $26 K - compared to $32 K for a new one (less if you're a good negotiator).

My question is - if the resale values are so great, why do the leases cost so much more than a comparable Volvo? A high resale value should mean a high residual - which SHOULD mean a low lease payment.

[ZINFANDEL22]

Let's take that as an example. A brand new ES can be purchased for $32 K or less. You save $9 K - by buying a car that has been driven 45,000 (well over half of the mileage I would use a car for) - and those are the best (lowest cost and newest) miles.  Plus, your car is 4 years old right off the bat, has a smaller engine than the new ones, and so on.

Personally, I don't think that's a great deal - and yours is one of the best CPO deals I've seen. The average CPO deal is much worse.

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CPO or not, these cars bring top dollar in the used car market. I agree, if you have the $30k to spend, go for a new one. But those of us who only want to spend $20-$25k cannot afford a new one. Personally, I would rather have a car thats possibly a year older with a few more miles, and have it certified until 100k. Edmunds values for the '02 ES puts dealer retail at $24,000. Certified on edmunds is around $26,000. I think the point your missing is that these cars bring big bucks cpo or not. You should be glad that they are asking top dollar and can get it!

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That's all true. But you're not going to get a 1 year old CPO for $20-25. Using Edmund's figures, a 4 year old CPO is $26 K - compared to $32 K for a new one (less if you're a good negotiator).

My question is - if the resale values are so great, why do the leases cost so much more than a comparable Volvo? A high resale value should mean a high residual - which SHOULD mean a low lease payment.

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That is true.... I dont know what the final residual value is on a 3 yr lease thats a good question. You are also correct about the Those cpo's at 26,000 are top end also I wonder where they come down to normaly? If a guy has a es 300 02 and doesnt like his 18,000 trade in he might try to sell it himself for 20,000 or so . You could by this car with no warrenty like the old days would that be so bad to do? I guess its a matter of finances and what you are willing to pay for the security of a 3 yr warranty hey?

[nicksan]

Just make sure that you are getting it from a reputable Lexus Dealer.

I got mine from Lexus of Massapequa and they were like snakes.

The CPO requires them to do the 100+ point check, but this dealer probably never even bothered. My wheels were out of alignment, wiper fluid didn't work, heated seats were wired incorrectly, break pads were badly "glazed".

I think the only reason to get a CPO is the warranty. Don't believe the hype. Just because it's a CPO that doesn't mean too much.

Again, you need to make sure to get it from a trust worthy dealer. Then you will be OK. They will take care of you.

This was the direct opposite with Massapequa.

The end result for me is that I am now looking to sell my ES. But I made sure to have all those issues addressed because I don't want to pass on the problem to someone else. I did the hard part. The new owner will have a nice time with the car. I just can't get myself to continue to own this. Call it bad karma...

Good luck to you.

[ZINFANDEL22]

Just make sure that you are getting it from a reputable Lexus Dealer.

I got mine from Lexus of Massapequa and they were like snakes.

The CPO requires them to do the 100+ point check, but this dealer probably never even bothered. My wheels were out of alignment, wiper fluid didn't work, heated seats were wired incorrectly, break pads were badly "glazed".

I think the only reason to get a CPO is the warranty. Don't believe the hype. Just because it's a CPO that doesn't mean too much.

Again, you need to make sure to get it from a trust worthy dealer. Then you will be OK. They will take care of you.

This was the direct opposite with Massapequa.

The end result for me is that I am now looking to sell my ES. But I made sure to have all those issues addressed because I don't want to pass on the problem to someone else. I did the hard part. The new owner will have a nice time with the car. I just can't get myself to continue to own this. Call it bad karma...

BUMMER,its all under warranty so thats cool ,but when you sell it you will take a big hit cuz there will be no warranty to over the buyer. You may want to reconsider selling it in my oppinion anyway. good luck

Good luck to you.

[Lexdiamonds]

Doesn't the warranty cover the heated seats wiring and stuff like that. They are supposed to fix the breaks and check all fluids before they sell it. I would have taken the car back to them and made the fix all of the stuff. Thats not right what they did. I have seen alot of cars selling much cheaper from that dealer on autotrader. I wonder if that is the reason why they are cheaper.

[LEXIRX330]

CPO is the way to go...

I just bought a 2004 RX330, sticker when it was new was 47,000. Nav, and DVD in REAR, AWD and just about everything else you can get. The dealership had just got this one back off of a lease, asking 36,900. I got the price down to 31,000...took 5 days but I think that it was well worth it. So what I have a 2-3 year old car with 45,000 on it, I still have a 3 year up to 100,000 mile warranty... I'm happy! GO WITH THE CPO unless you just need to spend money $$$$. GOOD LUCK!

[ZINFANDEL22]

CPO is the way to go...

I just bought a 2004 RX330, sticker when it was new was 47,000. Nav, and DVD in REAR, AWD and just about everything else you can get. The dealership had just got this one back off of a lease, asking 36,900. I got the price down to 31,000...took 5 days but I think that it was well worth it. So what I have a 2-3 year old car with 45,000 on it, I still have a 3 year up to 100,000 mile warranty... I'm happy! GO WITH THE CPO unless you just need to spend money $$$$. GOOD LUCK!

LOL... Sounds like a great deal, enjoy!!

[Scott Gordon]

I would agree to go CPO for a 3 year old car because you have so much money invested in the decision. you may save $10,000 but you are still paying for a gs, ls, sc, in the low to high thirties.

On the other hand since they do not have CPOs for much older cars say one 10 years old you are left with private sellers or used car dealers, in which case I take my chances with the private seller.

From a style and ride comparing a 10 yr old lexus with low miles and in good shape, to a three year old CPO of the same model, the newer car's improvements in ride, speed, confort,and any other real or precieved improvemens economically speaking are in the context of a $20,000 to 30,000 saving infavor of the private selller over the CPO.

Three examples of this view.

Four years ago I purchased a 1993gs300 with 80,000mi for $10,000 the car has 158,000 miles on it now and I have spent next to nothing on repairs. For example I changed all fluids, replaced brakes, made oil changes etc. which I view as maintenance applicable to all vehicals. I have also replaced a front driver side control arm, and had the driver side window frame seperate (I fixed with autodouble sided tape). So in 4 plus years I spent $15. 00 for the window frame and $300 for the control arm replacement. I could have spent $30,000 on a newer lexus but for what a .10 sec. faster in the quarter mile.

I also bought a 1998 sc300 with 48,000 mi. for $13,000, with all the bells and whistles it retailed for $48,000. one year and 60,000 mi.on the od later other then front brakes I have not paid anything in repairs in 12,000 mi. saving over new $35,000. and over CPO $20,000

there is a dark side to buying old

Now the first time I purchased an older car I wanted to own a mercedes so I bought a 93 Mercedes 300e. .

It cost me $15,000 it had 82,000 miles on it, it has 168,000 now and has cost me on average $2,500 in repairs in each of the 5 years I've owned it, and the tranny's shot. in this case I don't believe there was a cost savings from buying new and certainly no savings over CPO that is assuming the MB CPO aren't a piece of crap.

So if money is the driving force and not the model year go older lexus and in general go Japanese over german and you can really save.