The seller is now willing to come down to $12.5k, I'd love to get some opinions on this - I've seen the prices all over on these but this seems like a pretty good deal for a low mileage, one owner.
Buying/Selling - what year, how much, etc. - ask for opinions here
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The seller is now willing to come down to $12.5k, I'd love to get some opinions on this - I've seen the prices all over on these but this seems like a pretty good deal for a low mileage, one owner.
I too have owned BMW's and also have many a friend and family member that own/ed them as well. They definately have a certain aroma to them. It is not a bad aroma, to me at least, but one can identify a BMW by smell as they all smell the same - unless the owner is a heavy smoker, works on a manure farm, etc...
I have come across a 2000 Lexus 470 for real cheap. It does have 225,000 miles on it with at least one timing belt change. It might be had for under 6k. Is that a good deal or not?
Screaming deal. 1k for t belt change and 7 k in a 2000 LX470. Not bad.
I just walked out on negotiations for a 2004 LC. This thing has everything but a Rear DVD system (it even has a chrome grill guard). It has 78,235 miles on it. I found it at my local yota stealership yesterday. I went home and looked at the website, but no pictures & no price. It says 64,499 miles. I call about it and they tell me they just got it, it hasn't been through their inspection process yet, and they are asking $25,990. I tell him I'll be there in the morning to check it out. So I get there this morning, test drive it, and now he wants to say he told me $26,990 over the phone. I have them check out my trade, a '06 Altima 2.5 S, special edition with 113,200 miles on it. I know that's not much, but all my research suggest that it is worth between $4800 and $6500. I'm thinking mine is in the $5500-$5800 range. I tell him I'm willing to put down $1000-$2500 as needed to get the payments where I want them, between $400 and $450. I let them run both my wife and my credit, which are both above 700, and I can't believe I'm finally about to own my dream vehicle. Well, of course they come back with "we're not budging at all off of $26,990 and we'll give you $3500 on your trade." Even with $2000 down, the payment they were proposing was over $530.
Was I so wrong to think I could come out with a vehicle/trade difference of about $21k, put down $2500 and finance $18,500 for around $420/mo? I researched using true market value on edmunds.com, which suggests that $26,990 is at least $1000 high for this vehicle.
Where did I go wrong and how should I approach it come Monday? I'm sure once they put it online, they can get what they're asking, but I want it sooooo bad...for around $400/mo.
Oh, my zip is 80634.
Was I so wrong to think I could come out with a vehicle/trade difference of about $21k, put down $2500 and finance $18,500 for around $420/mo? I researched using true market value on edmunds.com, which suggests that $26,990 is at least $1000 high for this vehicle.
Where did I go wrong and how should I approach it come Monday? I'm sure once they put it online, they can get what they're asking, but I want it sooooo bad...for around $400/mo.
Oh, my zip is 80634.
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Negotiations
Separate all the pieces. If they are locked on the price and it's fair and appropriate, then you just need to figure out whether you can do it. NADA has it at $29K. I would be surprised if it goes quickly, given the price of gas, etc.
You're at least $3K apart between their asking price, trade and what you think you're car's worth...even if they come back to the first price.
If you're credit is solid, see if your credit union will do 90-100%. Sell your car privately or to CarMax, or at a minimum get a quote from CarMax so you'll know what the wholesale value. Figure the sales tax difference you'll pay if selling vs trade. In Texas you'd be looking at tax on the difference of the selling price and trade-in value, if I remember correctly. YMMV in your state.
Once you're car is sold, refinance to get your payment down to what you want. Also assume you're insurance will go up due to the value of the truck.
If you are price sensitive enough that $100/month is critical, you might want to reconsider, since gas and insurance may add up to that monthly over the next year.
Hope that helps.
Separate all the pieces. If they are locked on the price and it's fair and appropriate, then you just need to figure out whether you can do it. NADA has it at $29K. I would be surprised if it goes quickly, given the price of gas, etc.
You're at least $3K apart between their asking price, trade and what you think you're car's worth...even if they come back to the first price.
If you're credit is solid, see if your credit union will do 90-100%. Sell your car privately or to CarMax, or at a minimum get a quote from CarMax so you'll know what the wholesale value. Figure the sales tax difference you'll pay if selling vs trade. In Texas you'd be looking at tax on the difference of the selling price and trade-in value, if I remember correctly. YMMV in your state.
Once you're car is sold, refinance to get your payment down to what you want. Also assume you're insurance will go up due to the value of the truck.
If you are price sensitive enough that $100/month is critical, you might want to reconsider, since gas and insurance may add up to that monthly over the next year.
Hope that helps.
thx txtortoise.
I'd like to quote thru Carmax, but I just looked and I don't think we have one here in Colorado. I just moved up here in November from Arkansas. Is there anyone on here that knows a similar place I can go to get a quote on a used car? It would be nice to know exactly how much I could sell it for otherwise while I'm trying to deal with the whole haggling thing, which I'm not comfortable with in the first place. It's not that I think $26,990 is a bad price for that vehicle...I just didn't like being told one thing the night before, figuring out all the negotiation points based on that, and then being told it's an extra $1000. I also didn't like the insulting offer on my trade. I did the proper research. Between NADA, KBB, and TMV on Edmunds, my car is worth at least $5500, more like $6000. They offered $3500 first, then came back with $4000, and when the bossman came over and said we're not going to budge on the price and $4500 is the most you'll get on the trade, I told them good luck with the sale and left. It was a real clean ride at a good price, but like you said...it takes a lot to keep these things up, hell it's just around the corner from the 90k mile service. I think I'll just hold out a little while, I'm sure another opportunity will come along in the future.
And just cuz it's so pretty...
I'd like to quote thru Carmax, but I just looked and I don't think we have one here in Colorado. I just moved up here in November from Arkansas. Is there anyone on here that knows a similar place I can go to get a quote on a used car? It would be nice to know exactly how much I could sell it for otherwise while I'm trying to deal with the whole haggling thing, which I'm not comfortable with in the first place. It's not that I think $26,990 is a bad price for that vehicle...I just didn't like being told one thing the night before, figuring out all the negotiation points based on that, and then being told it's an extra $1000. I also didn't like the insulting offer on my trade. I did the proper research. Between NADA, KBB, and TMV on Edmunds, my car is worth at least $5500, more like $6000. They offered $3500 first, then came back with $4000, and when the bossman came over and said we're not going to budge on the price and $4500 is the most you'll get on the trade, I told them good luck with the sale and left. It was a real clean ride at a good price, but like you said...it takes a lot to keep these things up, hell it's just around the corner from the 90k mile service. I think I'll just hold out a little while, I'm sure another opportunity will come along in the future.
And just cuz it's so pretty...
Best way to handle situations like this, sell your trade in privately to get a fair value for it and secure your own financing at a credit union. Takes away a lot of the dealer's ability to play games, the only variable left is the selling price. Walk in with pre-approved financing at your own bank and cash to make up the difference and you are in much better shape and have more of an upper hand in negotiations.
Man, I'd love to see everyone in the vehicle of their dreams... but a word to the wise: don't buy a vehicle based upon the payment! Save up, pay cash, and overcome the interested cost and you'll be blessed for life! If you can afford the $500, that's only 4 years of savings! I know it sounds like a long time, but it will change your life! Free advice you didn't ask for. Best wishes either way!
I'd wouldn't be quite so far up sh*t creek financially if I had listened to people offering this advice when I got married. I had two old POS cars that were paid for, but both my wife and I wanted something better - all downhill from there. Car payments suck....
...but holy cow do I looooooove my LC.
That seems like a pretty good price. Wish I could find that. Here in Richmond, VA, a dealer is selling a white 2000 lc100 w/ 96k for $15,000 and there is a similar LC w/ 95k for sale private party $16,000. If the 90k service has been done $12.5k seems like a good price.
Let me know if you're able to use rising gas prices for negotiating leverage.
I appreciate all the advice and must say that I very much agree with all of it. In the past, I’ve always had the luxury of going into a dealership already financed through a credit union, but I’ve recently changed careers and locations. I was corporately employed in Arkansas for the past 5 years, but in November I moved to Colorado and began work as a private contractor. That certainly wasn’t the best move in terms of credit financing. So here I am high in the Rocky Mountains with a Nissan Altima. I came across an ’03 LC in a classified ad. The guy wanted $18.5. It had absolutely everything, including some cracked paint on the front passenger fender where the girlfriend had supposedly nudged the front wall of the garage. Anyway, I found out getting financed for a private sell wasn’t so easy with no proof of income. That’s when I caught the fever, though. I’ve actually been looking for that perfect 4th Gen 4R Sport for over a year now. Yesterday I decided I might could even feel OK with the right Sequoia, so I went to the local Toyota dealership and that’s when I saw the ’04 LC. I had to give it a shot, but I think it’s probably not meant to be at this time. I was devastated yesterday because I really thought it was going to happen, but I’m over it today. If I just wait about 3 more months, I’ll be in a much better position. Thanks again everyone for all the good advice…I’m sure I’ll be back around in the future to pick your brains again.
Updated:
Looks like they got it online today, and asking yet another grand...here's the link.
http://ehrlichtoyota.com/2004-Toyota-Land-Cruiser-Greeley/vd/6634633
What do you guys think, is it priced right?
Updated:
Looks like they got it online today, and asking yet another grand...here's the link.
http://ehrlichtoyota.com/2004-Toyota-Land-Cruiser-Greeley/vd/6634633
What do you guys think, is it priced right?
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Zander,
That seems a little steep, even for a nice low mile 04. I'd think $24 ish would be reasonable from a dealer, especially with current fuel prices.
Even if you don't buy now, stay plugged in here. Half the fun is learning. Poke around in the 80's, 60's, and 40's forums too to see what those guys are doing. Stay away from chit chat or you'll be hooked forever.
That seems a little steep, even for a nice low mile 04. I'd think $24 ish would be reasonable from a dealer, especially with current fuel prices.
Even if you don't buy now, stay plugged in here. Half the fun is learning. Poke around in the 80's, 60's, and 40's forums too to see what those guys are doing. Stay away from chit chat or you'll be hooked forever.
To add on to this thought, have you done the math on the cost of gas on one of these? If you're driving 12k miles/year and gas is in the $4 range the difference between a LC and something that gets 20MPG is ~$100/month. At 30MPG the difference is ~$200/month.
Maybe I'm doing the math wrong, but assuming a 15 mpg cruiser, it's more like $67 and $133 (at $4 and 12k), but I get your point; these rigs aren't inexpensive to operate. On the plus side, they won't spend much time in the shop like other brands.
If it wasn't for my company Colorado (and GE Fleet gas card), I might consider getting a commuter. But using this math it's pretty dang hard to justify when you add in insurance and depreciation on a 2nd (or 3rd) vehicle.
Way off topic, but I had a Corolla S from Hertz last week and that darn thing got almost 36 average for the week (I reset it at the start).
15MPG=$267/month, 20MPG=$200/month, 30MPG=$133/month
You're right, but I was using round numbers and figuring 15MPG was optimistic for a 100.
If the average drops to 13MPG then the monthly cost goes up $40 to $308. (edited to remove the incorrect info pointed out in the next post)
If gas is $5 and a person drives 12k miles/year it would cost around $4000-$4600 in just gas to operate one of these things.
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15 mpg (@ $4 and 12k) = $307 and 13 mpg = $267, so a $40 difference (87%). 20 mpg would be at $67 difference, so the 20 to 15 (75%) is still greater, but I agree that most people focus on the absolute number rather than the % gain.
Debating between a 28 mpg and 32 mpg commuter is pretty much pointless! Using the same math ($4 and 12k) a 50 mpg Prius saves only $35/month over a 35 mpg Corolla (and no batteries to depreciate!). Hardly worth it at $4, Even at $5 the Prius/Corolla delta is only $42 (although the same LC/Prius delta is $233!)
I went out and drove it yesterday, it runs and drives like a dream. Couple negatives though - a couple really small spots of surface rust on the body ( you really gotta look for em though) and the undercarriage has surface rust, nothing major, but its common for most of the vehicles in MN as they salt the sh&t out of the roads here.
Also, t-belt hasn't been replaced yet. I'll keep ya posted.
Hi All,
I am looking around to purchase a 2003-04 LC (80-100k miles or less) in the price range 20-24k. However, I am always facing the following problem. When I see a LC for sale in place or town X I do not know how to get a pre-purchase inspection done in town X.
I am posting here to ask if there are any LC experts here who would like to help someone like me with such an inspection. I know that there is a big list of LC mechanics posted here on this forum somewhere. But most probably the dealer or seller will not be allowing his vehicle to be driven if the mechanic is located far away. I have come across many dealers who are not happy with the idea that I think their vehicle needs an independent inspection ( because they already did a checkup on this vehicle when the trade-in was done!). In such cases it should suffice for an expert to take a look under the hood and test drive the vehicle near the dealership before purchase.
In a nutshell here is what I am asking. Are there any LC experts lurking here who would like to help a potential buyer out. Of course, I will pay for your time and travel. I need someone in Bay Area, CA immediately (between now and Saturday). To be more specific the vehicle is located in the East bay. Thanks
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I am looking around to purchase a 2003-04 LC (80-100k miles or less) in the price range 20-24k. However, I am always facing the following problem. When I see a LC for sale in place or town X I do not know how to get a pre-purchase inspection done in town X.
I am posting here to ask if there are any LC experts here who would like to help someone like me with such an inspection. I know that there is a big list of LC mechanics posted here on this forum somewhere. But most probably the dealer or seller will not be allowing his vehicle to be driven if the mechanic is located far away. I have come across many dealers who are not happy with the idea that I think their vehicle needs an independent inspection ( because they already did a checkup on this vehicle when the trade-in was done!). In such cases it should suffice for an expert to take a look under the hood and test drive the vehicle near the dealership before purchase.
In a nutshell here is what I am asking. Are there any LC experts lurking here who would like to help a potential buyer out. Of course, I will pay for your time and travel. I need someone in Bay Area, CA immediately (between now and Saturday). To be more specific the vehicle is located in the East bay. Thanks
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