Urgent: Need Your Opinion For A Lexus Certified 01' Rx300 Deal

[usarmy]

Dear All,

I am new, and glad to be here. Recently, I have been talked to a dealer for financing a certified 01' RX300 4X4.

Condition:

-01' RX300, all optioin exept navigation, 47K mileage.

-Lexus certified

-Base price: listing for $24,987, negotiate to $22,000, dealer go back to 23,000 bottomline (KBB listed for 21,000 for 3rd party and 22,000 for retail).

-warranty: leftover of 100k warranty (bumper to bumper and powertrain)

other options:

-free every 5k oil change

-winter mats

-free next 55k check-up

First of all, do you consider this as a good deal?

second, are there any possibility to negotiate more?

Thank you very very much for your input in advance and look forward to hearing from you.

Joe

[lexuschuck]

Joe:

Here are my thoughts...I bought a 2001 gold RX300 with all options except the Navigation for 22,988.It had 38,850 miles. It is/was certified (3 years, 100,000 total vehicle miles) and the first oil change is free. It has newer tires (within 5,000 miles) and overall is in good shape.

I would check the trans fluid to make sure it is pink (these seem to have week transmission)s and do a once over twice in general. If it all checks out you are probably in the ballpark price wise. However, as you can see I got mine for about the same amount with less miles.

Chuck

[usarmy]

Hi, Chuck

Thanks for sharing your information. You got a really good deal! I am still waiting for the dealer to see if are willing to do more, at the same time, i will go to see another 3 02' RX300 cars with roughly 27,000 mileage(~$26,000）, but non-certified. the reasons behind:

1. 02' model still have some of their original warranties. and I can purchase extended warranty for less than $2000.

2. lexus certified makes me feel better, but does it really worth couple of thousands of $$?

what do you thinik？

[usarmy]

By the way, Chuck:

they gave you mechanical breakdown warranty only or wear-tear items warranty included? cuz they won't give the latter to me. also, their offer include: unlimited claims and no deductible, any lexus certified dealer for repair.

I really have to check the tires and tran fluid as you suggested.

also, when they offered me 23k price, they also shortened my terms from 60 to 54months.

[lexuschuck]

Joe:

Go to the following site. This fully explains what the CPO Warranty gives you. This is what I recieved: http://www.lexus.com/cpo/what_is_cpo.html

It almost sound like a third party warranty and not the Lexus CPO. If it is the Lexus CPO, they do not have wiggle room so to speak (at least in my mind) on the term/months.

The CPO Warranty to me was worth it because I got a loaner anytime I was in for service (so they say) roadside assistance, etc. Plus, I am not personally wealthy enough to spend $20,000's on a vehichle and roll the dice on repairs. I think if you buy it right you are not really paying that much more and you get a new car warranty (which is about what the CPO is). Plus, the vehichle is fully detailed and in my case almost looked new (some flaws but nothing huge).

[lexus411]

seems like they are just giving you the remainder of the 6/70 powertrain coverage that already comes with the car. Just because its detailed doesnt mean its a clean car. Is this at aLexus dealer? By selling it non-certified it costs less but you lose the warranty as well as the better inerest rate and terms that come with it. If you want PM the vin# and I will get check history for you..

[usarmy]

Hi, guys

Thanks for your input. it is from one of largest lexus dealers in MA and they have already sent me the copy of carfax, it shows clean history with two owners and dealer also willing to give me the whole repair and check history of this vehicle.

also, with certified, the warranty is lexus backed 3yr/100k b to b and powertrain (but not include wear to team items).

one good feature of this dealer except the regular CPO benefits is I get free oil change every 5k miles, I double checked this with the salesperson.

as to APR and terms, they said ave apr is 6.99% depends on my FICO score and change terms to 54months from 60 after I negociated the price down.

Bottomline, i feel my offer (22500) is really close to their bottomline, otherwise they won't call me everyother day and also offer me some of features like floor mats.

Question is: should I negotiate the base price again or should I focus on adding some options like: cargo nets,cargo box etc?

Again, I really appreciate your input and will keep you posted my negotiation process.

[lexuschuck]

Hi, guys

Thanks for your input. it is from one of largest lexus dealers in MA and they have already sent me the copy of carfax, it shows clean history with two owners and dealer also willing to give me the whole repair and check history of this vehicle.

also, with certified, the warranty is lexus backed 3yr/100k b to b and powertrain (but not include wear to team items).

one good feature of this dealer except the regular CPO benefits is I get free oil change every 5k miles, I double checked this with the salesperson.

as to APR and terms, they said ave apr is 6.99% depends on my FICO score and change terms to 54months from 60 after I negociated the price down.

Bottomline, i feel my offer (22500) is really close to their bottomline, otherwise they won't call me everyother day and also offer me some of features like floor mats.

Question is: should I negotiate the base price again or should I focus on adding some options like: cargo nets,cargo box etc?

Again, I really appreciate your input and will keep you posted my negotiation process.

First off...I concur with Lexus411. A detailed car does not mean it is necessarily clean. As I stated, check the trans and yes, do a carfax (which the dealer did). Has all service been done at a Lexus dealership? Make sure you have all maintenance records/they are provided. If it was maintained at a Lexus dealership, this is easy for them to produce.

The financing sounds different than what they told me but it has been a while since I bought mine. However, in November they told me I would get NEW car rates which were 4.99% for up to 60 months. My thoughts are this, if it is CPO they are going to make sure to the best of there ability that it is not a lemon, been wrecked, etc. If you feel comfortable with that price then get it. However, look at what the trade in price is too. For Iowa the trade in price is around $19,000. Thus they are still making money. As I said earlier, I got mine with about 10,000 less miles for $22,988 (Lujack Lexus) so they are not out of wiggle room in my mind...and by the way, that was advertised price, I did not have to spend 6 hours there haggling.

Chuck

[usarmy]

Thanks for your reply, I am going to do the followings:

1. check all the maintenance records to see which parts have been repaired and checked and also to see if those were done at lexus dealer.

2. figure out the rate and terms: since I read lexus website, CPO also qualified for new car rate (is it only during incentive period or valid for all time?)

3. I checked KBB for trade in price at MA, listed for 18,150 (excellent), so they are still profitable a lot!

4. Good for you getting lojack on yours, I asked them before but they rejected immediately. with the price you paid and what you got, sounds really nice!

5. as to the negotiation time, I have spent 4 hrs last Sat with them, and calling back and forth couple of times already.

6. I will go to see another dealer for a similar condition rx300 with same advertised price to see what they can do.

7. I am not that wealthy either, so I am tying my best to spend it wisely.

[lenore]

If 18.5k is the suggested price, give them a bottom line price of 20.5 k out the door with all of the existing offers, then don't visit them, tell them to call you when they can meet that offer, otherwise sit tight. Believe me they are making too much, I have been burned many times by my own anxiety. I have used this method the last four vehicles, and succeeded everytime. I just wish I had learned these lessons years ago. They probably got the car for 16 or 17k. Good luck

[usarmy]

Thanks, Lenore. I will try to do the same.

[lenore]

Oh by the way if you read the threads, you will have less pain and heartache if it is a two wheel drive vehicle. The AWD has an inheret weak point in the tranny. It can cost big bucks, $$$4300 or more.

[lexuschuck]

Oh by the way if you read the threads, you will have less pain and heartache if it is a two wheel drive vehicle. The AWD has an inheret weak point in the tranny. It can cost big bucks, $$$4300 or more.

Yes, check the TRANS...cannot say that enough. Just to clarify..I bought it at a dealership called Lujack Lexus. Also, My rule of thumb is not to pay more for a car than what the car would be worth if I were to buy it from a private party. Lenore is right though, once you decide in your mind what you are will to pay, sit tight...and let them come to you.

[usarmy]

the dealer just called me to see if I want to move ahead. I told them I am still holding my bottom line. They sounds like little bit disappointed, but they said will keep in touch. As you guys suggested, I will sit tight and at the same time, I will go to other dealer to see if I can catch any good one.

Again, Thanks for your help during these days, I will add more experience gained from the haggling here.

Have a nice weekend,

Joe