Buying Help re Used 2016-2018 LC’s and LX570’s

[willgabriel]

I’ve been in conversation about this 2017 silver Land Cruiser (32k miles) for about three weeks. It is a one owner with no issues - BUT, it was a rental vehicle in Florida. It’s on the Butler Lexus lot in Macon, GA. They just told me it is scheduled to go to auction on Wednesday and they won’t come down from $60,899 because auction price is just under that (I don’t believe that at all).

Has anybody on here looked at this vehicle in person or had talks with the dealer about it? I’m in Kentucky and have been way too busy to make a trip to Macon, GA. At this point, I’m thinking I’ll just tell Butler Lexus I will hope it comes closer to me after being bought at the auction - and aim to buy it for around $57k at that point.

What do you all think?
Thanks in advance...

 

[fireball]

They've had that truck for at least a month, I remember it being on my feeds since I was specifically looking for a silver 16+. I immediately discounted it because it was a rental and I too would've been buying out of state.

I would bet they aren't lying about the auction price, stuff is more expensive down that way. Call their bluff and offer them $68k and see what happens!

 

[willgabriel]

They've had that truck for at least a month, I remember it being on my feeds since I was specifically looking for a silver 16+. I immediately discounted it because it was a rental and I too would've been buying out of state.

I would bet they aren't lying about the auction price, stuff is more expensive down that way. Call their bluff and offer them $68k and see what happens!

Excellent. That’s exactly what I just did. I’ll let the board know how they respond.

 

[fireball]

If you like the terra interior, this just popped up a few days ago, the first 2016 silver/terra I've ever seen. I bought a work truck from these guys a few months ago, they were happy to send me lots of pictures and do a facetime walk around. Looks like a good price and a good carfax with decent history: Used 2016 Toyota Land Cruiser for sale | HGreg.com

 

[willgabriel]

If you like the terra interior, this just popped up a few days ago, the first 2016 silver/terra I've ever seen. I bought a work truck from these guys a few months ago, they were happy to send me lots of pictures and do a facetime walk around. Looks like a good price and a good carfax with decent history: Used 2016 Toyota Land Cruiser for sale | HGreg.com

Thanks; that’s not a bad deal!

 

[mcgaskins]

FWIW I would never buy a former rental. Some might, but there are plenty out there without a rental history. Think about resale value when you go to sell it in the future - no one wants a rental.

 

[willgabriel]

FWIW I would never buy a former rental. Some might, but there are plenty out there without a rental history. Think about resale value when you go to sell it in the future - no one wants a rental.

Yes, that’s the main reason beyond price I didn’t prsss too much on this one. When I told the Lexus dealer that a rental background reduced the value to me as I know how I’ve sometimes driven a rental car, they came down a little. Yet, not enough.

In related news, what do you and others think of these possibilities (all one-owner, no accidents, no rental background, from southern States):
1. 2017 Land Cruiser (pearl white / terra) w/ screens and only 7,200 miles. $70k. At a Toyota dealership.
2. 2016 Lexus LX570 (pearl white / black) w/screens. 24,200 miles. $69500. At an Acura dealership.

The Acura is one of the beloved “no haggle” dealerships. I think their LX570 (it does have all the Lexus dealership service records) is about $3k too high. The Land Cruiser is about $3500 too high, IMO. A new 2018 can be bought for $76k or so after all.

 

[mcgaskins]

I think their LX570 (it does have all the Lexus dealership service records) is about $3k too high. The Land Cruiser is about $3500 too high, IMO. A new 2018 can be bought for $76k or so after all.

Looks like you already know what's up

 

[Mendocino]

FWIW, I bought a 2016 200 CPO from a Toyota dealer, 23K miles, one owner, clean car fax, AZ vehicle an paid $59,600. @willgabriel, the deal you mention strike me as overpriced, especially for a former rental. $55K to $56K seems more reasonable to me (if you can deal with the rental history).

 

[willgabriel]

FWIW, I bought a 2016 200 CPO from a Toyota dealer, 23K miles, one owner, clean car fax, AZ vehicle an paid $59,600. @willgabriel, the deal you mention strike me as overpriced, especially for a former rental. $55K to $56K seems more reasonable to me (if you can deal with the rental history).

Yeah, definitely overpriced for the 2017 with rental history.
What about the other two: the 2017 LC with only 7,200 miles at $70k; the 2016 LX570 with 22,400 miles for $69k?

And I have found a few 2016 LC’s with 26-34k miles - one owner - for $61-62k.

 

[Mendocino]

@willgabriel, I'm no expert, I just established my boundary conditions and shopped and negotiated accordingly. Here's my thoughts (FWIW) on what you mentioned:
2016 (assume clean CarFax and non-CPO), 26K miles, clean title and title in hand with no 3rd party sign offs required (this is a big deal, even with a dealer!): $58K
2016 (same caveats as above), 34K miles: $55K.
2017 (I assume this is CPO, and all the other caveats above): >$68K. My logic is that the depreciation when it leaves the lot should be at least 20% (its a LC and I assume a purchase price of $85K).

I'm no expert, this is just one guy's opinion. What ultimately matters is what you are happy with. Define your boundary conditions and find what you want.

 

[fireball]

Mendocino your deal sounds really good. I looked for a good few months at every silver ‘16-18 that popped up on the various boards across the country. Eventually got a 16 cpo from SoCal, Toyota cpo with 12k for $61,130. I felt that was a great deal and the best I’d seen.

The 16s mentioned above with 20-30k for 61-62k sounds like good deals.

As mcgaskins says above I’d stay away from a rental and other than that not sweat a few bucks here or there as long as it appears to have been well taken care of.

 

[SQRRRL]

Toyota of Orange has one.

 

[SQRRRL]

Toyota of Orange has one.

 

[bjorn240]

I’d jump on that Toyota of Orange deal. Only one I have seen that makes me slightly regret buying my ‘15 LX.

 

[willgabriel]

@willgabriel, I'm no expert, I just established my boundary conditions and shopped and negotiated accordingly. Here's my thoughts (FWIW) on what you mentioned:
2016 (assume clean CarFax and non-CPO), 26K miles, clean title and title in hand with no 3rd party sign offs required (this is a big deal, even with a dealer!): $58K
2016 (same caveats as above), 34K miles: $55K.
2017 (I assume this is CPO, and all the other caveats above): >$68K. My logic is that the depreciation when it leaves the lot should be at least 20% (its a LC and I assume a purchase price of $85K).

I'm no expert, this is just one guy's opinion. What ultimately matters is what you are happy with. Define your boundary conditions and find what you want.

Thanks everyone. Solid info/input!

@Mendocino, are you thinking LX570’s and LC’s are worth about the same once they are one year off the lot, with similar miles, ownership numbers, etc? I ask as the 2016 Lexus LX570 with 22,000 miles books from 63-68k in this area, whereas the 2016 Land Cruiser with 32,000 miles books from 57-63k. And I’m seeing similar differences between other LX’s and LC’s.

I am partial to the 2017 with only 7,250 miles. It’s not a CPO though. It is being sold by the Toyota dealership on consignment for one of their regular customers whose wife drove it those few thousand miles and then left to go back to their home country. The general manager told me this and said they opted not to CPO it as it costs $500 (?). There is still the vast majority of the original warranty on it. He did offer to go ahead and CPO it if I wanted it (and he’d add the cost to the final price - nope).

After telling him I was firm at $67.5 and showing him value numbers and what I could get a new one for (numbers he already knows; just letting him know I know), he told me last night he would talk again to the consignor and see if he would reduce his asking price. We will see.

Again, thanks for all the helpful info... and I’ll check that blue/terra one in CA out too! Great deal!

 

[Mendocino]

The Lexus has a premium over the LC. Personally I don't care about the Lexus so that distinction is lost on me. The 2016 at Orange Toyota looks promising as does your negotiations on the low mile 2017. Good luck!

 

[Sac Cerevisiae]

I’m near Orange and would be happy to check out the truck if you’d like. PM me.

 

[Bendcruiser]

Stay away from rental if you can. Focus on one owner from the West. Toyota of Orange looks like a winner if it checks out?

 

[Mendocino]

I’m near Orange and would be happy to check out the truck if you’d like. PM me.

When I bought my 2016 I had a 'Mud'er check it out in AZ and he did a great job! I've done this locally in Denver too; "Pay it Forward."