Considering getting a demo LC 200, any advice, comments, or thoughts? (1 Viewer)

[PIPA]

Hello fellow Ih8mudders,

Dieselgate is finally finished and I've be looking around the corner to when I can turn in my JSW TDI and get the cash for my vehicle (soon hopefully). With that in mind, I've been looking into buying a demo 200 LC (actually in the next few days). Is there any advice, thoughts, comments, or suggestions on things I should be asking about or considering upfront when talking with the dealership?

Should I wait to see if the new 2016s drop in price now that the 2017s are out? I've asked dealerships about drops in prices for the new 2016s and only got 7-8k off of MSRP of 85-87k. Not worth it when the one I'm looking at is coming in at 69k (I might be even able to get them to drop the price a bit) with ~15k miles from the dealership (is the extended warranty worth it?). My feeling though is that there are a number of new 2016s that Toyota will have a problem getting rid of and it might be a good strategy to wait it out too...

I'm looking forward to getting this one or waiting, transforming it (and posting pics of course), hopefully getting it out around the southeast and the rest of the country one day when I have the time, and hopefully running into some of you all in the community out there...

Thanks in advance

 

[linuxgod]

Check cars.com for the best prices on the 2016s new and used/demo and use that as the basis for your negotiations (or confirmation that what they are offering is a good deal). IIRC invoice on a brand new model is $77k or 78k, so the question whether saving $8-10k to you is worth the 15k miles someone else broke the LC in. (To me it probably would be).

I assume the dealer isn't selling the demo as CPO? Not sure what the warranty start date would be for a demo. Depending on the state it may still be considered "new"; other states require the dealer to sell the vehicle as used once it hits 5k miles. Ideally you can get them to include the Toyota CPO warranty, which would extend the powertrain warranty to 7 years/100k miles instead of the 5/60k normally included. If not, a 7 year/100k Toyota Platinum VSA with $0 deductible should cost about $1250-1300. If you're concerned about any issues past 3/36k, or powertrain past 5/60k, you can decide if $1300 in "insurance" is worth it to you.

Full Disclosure: I purchased a CPO 2013 which was just under 2 years old with 49k miles. Despite the 7/100k powertrain warranty with the CPO the bumper-to-bumper was only 12mo/12k miles. I purchased the VSA because I took out a 5 year loan (I didn't want to tie up the cash) and it extends the non-powertrain warranty to 7/100k, which is approximately when I'll finish paying the truck off. So while I'm still making payments, at least I shouldn't have any major expenses (outside maintenance and mods).

 

[PIPA]

Check cars.com for the best prices on the 2016s new and used/demo and use that as the basis for your negotiations (or confirmation that what they are offering is a good deal). IIRC invoice on a brand new model is $77k or 78k, so the question whether saving $8-10k to you is worth the 15k miles someone else broke the LC in. (To me it probably would be).

I assume the dealer isn't selling the demo as CPO? Not sure what the warranty start date would be for a demo. Depending on the state it may still be considered "new"; other states require the dealer to sell the vehicle as used once it hits 5k miles. Ideally you can get them to include the Toyota CPO warranty, which would extend the powertrain warranty to 7 years/100k miles instead of the 5/60k normally included. If not, a 7 year/100k Toyota Platinum VSA with $0 deductible should cost about $1250-1300. If you're concerned about any issues past 3/36k, or powertrain past 5/60k, you can decide if $1300 in "insurance" is worth it to you.

Full Disclosure: I purchased a CPO 2013 which was just under 2 years old with 49k miles. Despite the 7/100k powertrain warranty with the CPO the bumper-to-bumper was only 12mo/12k miles. I purchased the VSA because I took out a 5 year loan (I didn't want to tie up the cash) and it extends the non-powertrain warranty to 7/100k, which is approximately when I'll finish paying the truck off. So while I'm still making payments, at least I shouldn't have any major expenses (outside maintenance and mods).

Thanks so much for sharing, I really do appreciate it. I think the savings is worth it to me. I just got a call from another dealer asking why I haven't considered buying a new one with the discounted price and he was shocked when I told him the price I was getting the used one for. I don't know about the warranty options, but I'm going to delve into that now (I was told that it's just the regular warranty). It's being sold as used and not a CPO, but I can check to see if they can thrown in the CPO warranty. I think the CPO warranty would be a great addition regardless if I pay extra for it so I don't have to deal with those added expenses as you mentioned above.

Thanks again!

 

[travistheone]

if a toyota dealer is selling as used and not CPO I would be inquisitive.

 

[txtortoise]

I'm a bit more familiar with the Lexus warranty offerings, but I assume they are similar. Per Travis, if selling as used it should be CPO, but that adds about $900 to the dealers cost, so often they won't include it for something like an eBay sale. That said, as a demo, it may be selling as new, so CPO doesn't apply.

You usually have two extended warranty options, at least with Lexus. You can buy the Platinum add-on warranty to extend the OEM warranty to 7/100 (or whatever month/miles mix you choose) or you can buy essentially the same thing as a wraparound (overlaps existing warranty) starting from date of service. Don't assume the sales or finance guy will know the details, I know I confused mine until I show them a spreadsheet. The issue was while the date of sale of Oct 2015 was on a 2013 model, the truck went in service in mid-2012 and the extended warranty vs the wrap have different start dates, which effects when your warranty expires. Based on my annual mileage, it made sense for me to do the extended warranty, but on my previous used LX470 I did the wrap.

Trivia, but this approach bought me another year/miles of coverage for about the same money...which was around $1500.

In any case, be sure you are buying the Toyota Warranty.

 

[PIPA]

if a toyota dealer is selling as used and not CPO I would be inquisitive.

Just curious, what do you think could be problems associated with it if it was being sold as used and not CPO?

 

[PIPA]

I'm a bit more familiar with the Lexus warranty offerings, but I assume they are similar. Per Travis, if selling as used it should be CPO, but that adds about $900 to the dealers cost, so often they won't include it for something like an eBay sale. That said, as a demo, it may be selling as new, so CPO doesn't apply.

You usually have two extended warranty options, at least with Lexus. You can buy the Platinum add-on warranty to extend the OEM warranty to 7/100 (or whatever month/miles mix you choose) or you can buy essentially the same thing as a wraparound (overlaps existing warranty) starting from date of service. Don't assume the sales or finance guy will know the details, I know I confused mine until I show them a spreadsheet. The issue was while the date of sale of Oct 2015 was on a 2013 model, the truck went in service in mid-2012 and the extended warranty vs the wrap have different start dates, which effects when your warranty expires. Based on my annual mileage, it made sense for me to do the extended warranty, but on my previous used LX470 I did the wrap.

Trivia, but this approach bought me another year/miles of coverage for about the same money...which was around $1500.

In any case, be sure you are buying the Toyota Warranty.

Thanks txtortoise, I never even contemplated the different warranty options nor did I now about it (wrap versus add-on) great information to consider when I talk to the to the dealer on the phone today to see what is offered...

 

[PIPA]

Additionally, what would be the first cost-intensive modification/add-on that you would do to that vehicle (perhaps it should be another thread) but I'll have some $$ to modify something and I wanted it to be worth my while. My thoughts are to modify the suspension in preparation for switching out and being able to handle the front and rear bumpers, adding a roof rack, long-ranger fuel tank, a drawer system, and of course getting some clearance...

 

[linuxgod]

Just curious, what do you think could be problems associated with it if it was being sold as used and not CPO?

Toyota CPO means there's a certain set of standards that the dealer is guaranteeing the vehicle meets. For instance, minimum 50% tire tread and brake pads left. It also makes some guarantees about the vehicle history (e.g not a salvage or flood vehicle). Otherwise CPO is effectively just a warranty extension.

If it's a dealer demo, the vehicle may stil lbe considered new (depending on the state), and thus CPO may not apply (it can't be pre-owned if it's never officially been "owned").

I wouldn't necessarily run away from a lack of CPO. As @txtortoise mentions, it costs the dealer extra to do the CPO even if there's zero to fix because they have to pay for the additional warranty, so if it's still under warranty many dealers will skip the CPO unless you ask. IMO if you want an extended warranty you're better off pocketing the $900 savings the dealer would spend on CPO and negotiating the 7/100k platinum VSA for about $1250. Either way you get 7/100k powertrain, but the platinum VSA will extend the bumper-to-bumper* to 7/100k as well, rather than just adding 12mo/12k.

*I call this bumper-to-bumper but in reality the platinum VSA doesn't quite cover everything.

 

[RTaylor]

I bought mine as a dealer demo. It was considered a new sale. About 4K on odo. I got about $15k off sticker.

 

[hankinid]

The unicorn with rainbows flowing from his rear may be the demo driven by the owner's wife and traded every year or 2.

 

[Sandroad]

I have an email from a dealer showing the typical costs to them of selling a CPO. Toyota corporate charges $250 and the vehicle has to meet a lengthy list of standards for history and condition. The dealer cannot sell as a CPO if the vehicle has never been titled, regardless of the number of miles. Demos have typically never been titled. Any vehicle still within the 3/36 factory warranty can have a Toyota brand Vehicle Service Agreement added for extra cost (or no cost, depending on negotiations).

 

[txtortoise]

"The unicorn with rainbows flowing from his rear may be the demo driven by the owner's wife and traded every year or 2. "

That's what I thought... GM's wife got the 2013 at 16K miles, finally agreed to sell at 27k miles....6 months later.

Still finding red drink stains in lots of hidden places. Always find out if they had kids, and kids with friends. Big difference between a run to the mall and multiple kid trips every day for months it seems.