Fair price help

[GOHOGS]

All, I'm considering purchasing a friends 2016 LC that he traded at a local dealer. I didn't realize his wife wanted something smaller prior to him trading, or I'd had made the deal before.

2016 LC black / terra. 5k miles. Good shape minus ding on passenger side of back bumper. What's fair at Toyota dealership? It is CPO. I mentioned about 3 weeks ago they were way off at $80k, and have reduced the price slightly, but still way high given recent deals on new 16s...

I'd be trading my 2014 LX 570. 32k miles. Gray / black interior. Excellent condition, no dings. Always garaged and dealer serviced. New tires. 30k service done. Always Lexus serviced. What's fair on trade?

Im on the fence about it, simply because the LX has been so solid and not sure I want to part with it. I would be willing to consider if they make me an offer I can't refuse, and they seem quite interested in my trade.

I looked at a new one 4-5 months ago and they offered $65k on trade and $7k off new. Do you think I can get sub $70k on the used model and $65k on trade?

I just don't know what's a great deal on this. Any insight is greatly appreciated. Thanks!

 

[triplenet]

keep the LX until the next Gen LC comes out.... They are going to rape you coming and going

 

[T4Runner]

I don't think you're gonna get a better deal on a '16 w/5K on the clock over a brand spanking new one. I'd hold out the year or two for the next gen LC too unless you really need to get out of your current LX.

 

[GOHOGS]

That was a concern of mine too. Why they started it out at $80k made 0 sense given pricing on new 16s currently. I love the LX an love the interior updates on the 16s. I think I may be happiest waiting for a low mileage 16 cpo lease return in a year or two.

 

[malloc]

Will your friend admin how badly they shafted him on the trade-in? offer them a bit over that price. They did have to do the CPO paperwork and wash it afterall

 

[GOHOGS]

He paid $10k off sticker new. I'm unsure what he got on trade as I haven't asked yet.

 

[gearguywb]

There was a '16 with 5K on it that sold here 2 weeks ago for 72K. I bought a new one for 76K. For the 4K i would rather have new, and they threw in a 7/100K warranty and services.

 

[Bigwood]

I ordered my 2017 LC for 76 and some change.

 

[GOHOGS]

Thanks everyone. This is all good info. I think I'm set on keeping my LX for the reasons I stated above. Just curious, knowing the kind of pricing for new LCs, the dealer will most likely have to continue to reduce. At what price would you say it's worth making a deal on?

I figure at the least, it's worth keeping an eye on. I bought my 14LC with 7k miles for $67k, and felt like it was a decent deal at the time. I ended up trading it on the LX 10 months later because that was what I really wanted and the right deal came up.

I feel like $66k - $67k would be solid enough for me to bite on the used LC, all assuming they don't try to take advantage of me on a low trade. Since they already offered $65k on trade for a new one I'm not too worried they would offer significantly different at this point. What are your thoughts?