I bought my CPO 2016 14 months ago for $69k plus TTL at 16k miles iirc. 68k otd is either legit or could go lower by a few grand, but definitely not higher. Be sure to check the Carfax if you haven't already. Read a post here recently where Lexus sold a wrecked LX as CPO. Good luck!
Looking at 2016 LC, CPO, hoping for some opinions
- Thread starter doctorres112
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- #22
Thanks for that information! I saw the carfax, it's clean. My wife REALLY wants the "saddle brown" interior, but those seem hard to come by w/out buying new or barely used. Even then, most appear to have the black interior.
I'm going to call tomorrow and throw them an offer, see what sticks. The comment this evening was "if we don't sell soon we will just send it to auction".
Not knowing a lot about cost to use the auction, I would think they would be better off selling to me vs going through that hassle on a premium vehicle.
-Chris
LINUS
Waiting for the Great Pumpkin
A point to consider from a non-sales dealer employee "back when":
A car is actually less money the newer it is to the lot, after 30-45-60 day marks cars need to 'earn their spot' as every square foot of a dealership is $$$/out the window.
Specialty cars like old restored muscle or limited runs like a highend Shelby, a Buick GNX or similar are exempt, as it takes a little longer to find the 'ass for that seat'.
But for run-of-the-mill rigs, the sooner you start talking serious the more room the dealer has to work as that car doesn't "owe rent" for the time on lot yet.
Also, this is a great time of year to negotiate (esp from Dec 26-Jan 31st) - people are generally in a post-Christmas "spending hangover" & Jan is a quiet month on lots esp closer to the start of the month, and salesmen are motivated to put a deal on the roster board in the backroom behind their name.
A dealer that says 'we'll just send it to auction" is generally fishing, as dealer auctions rarely bring over wholesale aside from those special model/interest rigs.
HTH.
A car is actually less money the newer it is to the lot, after 30-45-60 day marks cars need to 'earn their spot' as every square foot of a dealership is $$$/out the window.
Specialty cars like old restored muscle or limited runs like a highend Shelby, a Buick GNX or similar are exempt, as it takes a little longer to find the 'ass for that seat'.
But for run-of-the-mill rigs, the sooner you start talking serious the more room the dealer has to work as that car doesn't "owe rent" for the time on lot yet.
Also, this is a great time of year to negotiate (esp from Dec 26-Jan 31st) - people are generally in a post-Christmas "spending hangover" & Jan is a quiet month on lots esp closer to the start of the month, and salesmen are motivated to put a deal on the roster board in the backroom behind their name.
A dealer that says 'we'll just send it to auction" is generally fishing, as dealer auctions rarely bring over wholesale aside from those special model/interest rigs.
HTH.
Yeah CPO is going to be of limited value since it would likely still be under the 3/36k factory warranty. CPO gives you 12 months/12k miles but the factory warranty probably applies already. Not sure why the dealer would bother with a CPO warranty on a vehicle still under factory warranty unless the cost was basically zero to them. 7 year/100k Toyota platinum VSA can be negotiated down to a bit under $1300 if you want a longer warranty (which is the route I went).
In my experience negotiating on an LC or LX is largely dependent on the dealer and location. I looked at a couple vehicles in my area and dealers were not willing to negotiate much if at all. Could be a function of Chicago. I lucked out that AutoNation had a truck "on their lot" in Houston for 60 days and had automatically reduced the price twice. I think it was on the lot that long because it was being driven by a salesman or the dealer's owner, so it wasn't actually on site. They shipped it to the AutoNation near me for $585.
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- #25
Thanks for the input. CPO adds the 12/12k bumper to bumper, and 7/100K power train, according to the dealer.
I'll be sure to update the forums on the route we go. As of now it looks like the LC has the lead.
-Chris
Ah that's right, I forgot about the powertrain extension.
The factory warranty already covers the next 12/12 bumper to bumper, so CPO has no value there. I assume you know the 7/100 powertrain warranty of the CPO starts with the original purchase, not with your purchase. So that basically adds add 40K miles over the factory 5/60 on a incredibly reliable engine/transmission/differentials. The real value on a used truck warranty (or even new truck) is a long Platinum VSA, assuming you can negotiate as cheap as possible cost.
For my 2016 CPO, I generally appreciated the additional 40k mile warranty on the new transmission because I'm not buying a VSA. That's in addition to getting a signed agreement from Toyota saying that this used vehicle is in 100% working condition so they're on the hook for anything not working at the time of sale that I didn't notice, regardless of whether it's covered by warranty. That actually got me a good bit of extra stuff because there was a ding on the windshield at purchase time so they reimbursed me cost in various toyota items for the LC like full floor mats. Also had a few missing pieces of removable stuff that no one could find, so they had to send me those pieces in accordance with CPO certifying everything is there. I realize these can be negotiated outside of a CPO, but I didn't have to negotiate... it wasn't there so they had to make it right.
I'm not sure I follow your logic here. Are you saying a dealer is less flexible on price the longer something sits? And the best/lowest priced vehicles are the ones that have been on the lot the least amount of time? I tend to disagree. When I bought a CPO JKUR, I went in October to check it out when it was WAY overpriced. I think they were asking like $35.9k for it. I liked it, so I just kept watching in on their website as they lowered it in $500 increments. On the last day in January, they were at $32.9k, and I offered $29k plus TTL and they immediately accepted. I'd say most dealers generally start inventory at the highest price they could see someone paying for it, and then slowly drop the price with time. The longer the vehicle has been sitting the more likely they are to make a deal in my experience. I've owned 45 cars or motorcycles in the 16 years I've been driving, so I've bought a few off lots when they've aged to the point I can get a great deal.
LINUS
Waiting for the Great Pumpkin
@mcgaskins - OK. I've zero vested interest in the deals you get, I just know as a kid who worked the lots (3 total) as a kid in HS & jr college what is the $$$ from the dealer perspective.
Alot has changed since then but I'm still great friends with a salesman from one lot who went on to open his own lot, with the internet margins are even tighter so the fact a car has to "pay its' own rent" has only magnified.
It's common carlot math, you stand a chance of a better deal if the dealer can make a quick $6-800 backing a used car off the hauler - the smarter dealers know this. Win-win, people who get decent deals are always best advertising & comparitively cheap.
Case in point - my Tundra. It was advertised at shy of $38K & before trades/cash we were at $31K (wholesale was $29+/overall) -because it was Jan 15th last year & it had been there for <2wks.
Up to you, I spent quite a few years listening to salesmen while I worked lots, detailing, paint dept at some local yards. I learned plenty but if your way works for you, great.
Alot has changed since then but I'm still great friends with a salesman from one lot who went on to open his own lot, with the internet margins are even tighter so the fact a car has to "pay its' own rent" has only magnified.
It's common carlot math, you stand a chance of a better deal if the dealer can make a quick $6-800 backing a used car off the hauler - the smarter dealers know this. Win-win, people who get decent deals are always best advertising & comparitively cheap.
Case in point - my Tundra. It was advertised at shy of $38K & before trades/cash we were at $31K (wholesale was $29+/overall) -because it was Jan 15th last year & it had been there for <2wks.
Up to you, I spent quite a few years listening to salesmen while I worked lots, detailing, paint dept at some local yards. I learned plenty but if your way works for you, great.
My father owned a independent car lot for almost 40 years. This logic is sound and spot on for them, but typically not your “name brand” big store dealers. They’re going to sit on that vehicle and gamble that it’ll sell.
And there’s no way a dealer is just sending an LC to the auction. They will typically find another dealer to swap inventory with. Like trading baseball players. I’ll give you this LC for this two Highlanders in the ugly color you can’t sell.
$68k is a good price at that mileage. Get it, enjoy it.
And don’t forget the seat protectors for those child car seats ; )
LINUS
Waiting for the Great Pumpkin
Dealer trades are a whole other ballgame (was trying to keep it simple, but you're right / new marque dealers 'trade' used & esp new models real routinely.
And the other reason some used lot may just sell a bigger ticket vehicle @ auction is if it's not their normal 'bread & butter' type rig.
At the Honda lot I worked, I routinely was tapped to drive cars between dealerships when any of the senior citizens they keep employed weren't available - you're spot on that's another solution dealers use.
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- #33
Tracking on all! And thanks for helping break it all down. We test the new LR Disco today, not impressed compared to the LC. For me, the LC is understated, functional, and I don't feel out of place. The wife and I agree, though beautiful in it's own right, the Disco had too much going on to feel comfortable as compared to the LC.
Thanks, appreciate the feedback...and good call on the child seat protectors. We didn't use them in the Sienna but given the wife wants the Terra brown leather seats, we will for sure be looking into those for my two younger boys.
-Chris
If you're looking at a LR, have you considered the LX? It's not for everyone as it has its own distinct style from the LC. But it has the same core virtues, with a slathering of upscale fitments and features. As there are more units in the used car market, you might be able score one at a better price than an LC of similar year/mileage.
