Certified Pre-owned - Your Thoughts?

[SWA_Murphy]

I was thinking about purchasing a CPO RX330 (either 04/05). Is it really worth the extra cost? Or should I save the money and buy elsewhere?

I think it is worht the cost since the 3 yr / 100K warranty comes with it. My wife and I have a newborn son, and need something a little larger than our current vehicle. Any insight would be much appreciated.

Was also going to use the 87 octane fuel. How much will the performance suffer if any?

[SW03ES]

Welcome to the LOC!

I've posted it before, but never in this forum. Here's my take on the CPO program:

Pros:

1. You get a similar buying experience to buying a Lexus new, more choice of options and colors.

2. You get some assurances that the vehicle has been properly inspected and reconditioned, and that it hasn't been in any serious accidents (a vehicle can have 2 panels repainted and still be CPO).

3. You get the warranty.

Cons:

1. The premium can be as much as $7k more than a comparable privately sold vehicle.

2. You never get to meet the previous owner.

3. The premium can be as much as $7k more than a comparable privately sold vehicle.

Most people also don't know that as long as the vehicle is still under factory warranty you can add a Lexus warranty until 100k miles that is exactly like the CPO warranty for about $1500-$1800. In fact, its better because its transferrable when you sell the car unlike the CPO warranty.

So, personally, I think you're better off buying from a private owner with all the records and buying the warranty.

[tmhtmh]

I agree with the previous post with one exception - Few vehicles that new are privately sold - the vast majority are traded in due to the great resale value. This is especially in states with a tax on vehicle purchases because the tax is based on the difference in cost between the new and trade-in, thus saving lots of taxes by trading in rather than re-selling.

However, many dealers sell used Lexus' that don't add the CPO cost. As SWO said, you can easily buy the extended warranty either from Lexus or 3rd party for MUCh less than the CPO adds. Also, the powertrain and engine are likely still under warranty on a vehicle 1-2 yrs old, right?

If you want the "Lexus purchase experience" then I guess the CPO is the way to go. Also, it may give you more of a "no worries" feeling - there's something to be said for that but I can't put a $$$ value on it.

[arens]

We purchased my wife's 04 RX330 as a CPO. We didn't find any RX330s for sale privately, only at dealers. The RX330s at the Lexus dealer were right in line with every other dealer so it was the CPO program that clinched the deal. However, if we could have found one privately we may well have gone that way. But it would have had to have been more of a difference that just 1 or 2k for a comparable car.

[LEXIRX330]

We purchased my wife's 04 RX330 as a CPO. We didn't find any RX330s for sale privately, only at dealers. The RX330s at the Lexus dealer were right in line with every other dealer so it was the CPO program that clinched the deal. However, if we could have found one privately we may well have gone that way. But it would have had to have been more of a difference that just 1 or 2k for a comparable car.

I'm with you like 5k to 6k less, would buy private party. It all depends on the deal you get on it and the previous maintenance of the car. I like the fact that by buying the CPO I don't have to worry about anything up until 100k miles. True you can buy the extended warranty elsewhere...choice is yours....

I am happy with the one that I have made so far...best of luck :D

I also us 87 in mine...the RX does not require premium! B) :D

[SWA_Murphy]

We purchased my wife's 04 RX330 as a CPO. We didn't find any RX330s for sale privately, only at dealers. The RX330s at the Lexus dealer were right in line with every other dealer so it was the CPO program that clinched the deal. However, if we could have found one privately we may well have gone that way. But it would have had to have been more of a difference that just 1 or 2k for a comparable car.

I'm with you like 5k to 6k less, would buy private party. It all depends on the deal you get on it and the previous maintenance of the car. I like the fact that by buying the CPO I don't have to worry about anything up until 100k miles. True you can buy the extended warranty elsewhere...choice is yours....

I am happy with the one that I have made so far...best of luck :D

I also us 87 in mine...the RX does not require premium! B) :D

Is the warranty bumper to bumper?

[SW03ES]

I agree with the previous post with one exception - Few vehicles that new are privately sold - the vast majority are traded in due to the great resale value.

Search AutoTrader or cars.com, You find plenty of privately owned Lexus' for sale. Even if you have to travel a little, I still think its worth it in the long run since you get to meet the owner, see the records for yourself. I for instance will sell my ES privately when I do sell it because I *know* the shape its in and how its been cared for. Whoever buys it will get a fantastic car.

And yes, both the CPO warranty and the Platinum extended warranties are bumper to bumper.

[tmhtmh]

I agree with the previous post with one exception - Few vehicles that new are privately sold - the vast majority are traded in due to the great resale value.

Search AutoTrader or cars.com, You find plenty of privately owned Lexus' for sale.

Well, just for kicks i did search cars.com and found a total of ONE RX330 for sale by a private owner within 250mi. of my home. One out of 257 total for sale in that radius.

As I said, tough to find with so new and high-valued a vehicle.