New 2016 or used 2015?

[linuxgod]

Locally most new LC are purchased cash while new LX seemed to be leased

I can't recall seeing a "7year loan" on a new LC

The wealth and demographic of a new LC owner often parallel that of a new 911 owner

I doubt Toyota offers 7 year financing but most banks offer 6 years on a new vehicle and some do offer 7. I financed my 2 year used LC, in part because my interest rate was <2% for 5 years through Lightstream and I'd rather not be truck rich and cash poor. No $ lying around for a 911 though.

 

[Beng1328]

I really think the financing depends on your life stage. I financed mine for 5 years at 1.69%. I can make much more money than that on investments then taking the money and paying cash for the vehicle. All depends on where you are in life I guess. To me that is what made the most sense...

 

[SWUtah]

If I lived in the rust belt I would lease

 

[MooseRDS]

Update from OP (me). The dealer finally got the 2015 in with 25K miles and priced it $69K which, IMO, is way too high. On top of that, they wanted 80.5 for the 16. They indicated they may have a little room but couldn't get down to the level some folks are paying up north. So, going with neither. I'm going to spend some time searching for a 13 or 14. I have a few months as my son won't be taking over my Hundy until later this summer as he heads off to college.

 

[Markuson]

Update from OP (me). The dealer finally got the 2015 in with 25K miles and priced it $69K which, IMO, is way too high. On top of that, they wanted 80.5 for the 16. They indicated they may have a little room but couldn't get down to the level some folks are paying up north. So, going with neither. I'm going to spend some time searching for a 13 or 14. I have a few months as my son won't be taking over my Hundy until later this summer as he heads off to college.

Sounds like the dealer is only paying attention to the model year and not the mileage. That's more than half the miles my 2008 had on it when I bought in last year (48k miles).

 

[Romer]

That's way to high for both. Local dealer offered me Invoice ($78K) on a 2016. 25K miles should be about what I paid, under $60K

 

[Romer]

cargurus is a good site for research

 

[Beng1328]

I will tell you that I bought mine 2015 with 5k miles on it for $64 and felt like I did fairly well. Not sure how others on here would feel about that but I felt like I got a great deal...

 

[Markuson]

I will tell you that I bought mine 2015 with 5k miles on it for $64 and felt like I did fairly well. Not sure how others on here would feel about that but I felt like I got a great deal...

Sounds like a good price to me! That's like being PAID around $3 per mile (in discounts) over zero miles...

 

[linuxgod]

If I lived in the rust belt I would lease

Only suckers and those bad at math lease in Chicago.

If you live in Chicago, there's an 8% lease tax in addition to the 8.25% state and county sales/lease tax. Up until last year the state/county taxes were capitalized - you used to pay the 8.25% on the entire value of the vehicle, even on a 2-3 year lease (though you'd get a credit back at the end of the lease). At least they finally changed that tax law to conform to what 48 other states do (Texas is the only other state to still capitalize leases). The 8% city lease tax hasn't changed though.

 

[MooseRDS]

UPDATE from OP:
To recap, I love my 2000 100 LC. I had no plans to part with it but my 18 year old son is off to college and he really wanted it above anything else he looked at. It's a good choice for him so I figured there is only one replacement option for a LC and that's another LC. I figured I'd go with a 200 series as I've had a 40, 80, and 100. I really like the '16's with the additional safety features, updated styling, 8 speed trans. It was also much easier to find a 16 than a used 200 in an acceptable color in the condition I was looking for and at a reasonable price spread to a new one. Being very satisfied with the durability of a LC, there were certain things I was willing to look past (mileage) and certain things I wasn't (rust, poor maintenance). I was a lot less concerned with buying a used LC than I was a used....fill in the blank...vehicle. I really didn't have the time to do a lot of traveling to look at the limited number of pre-owned 200's out there. I was all set to go with the 16 until my wife and I weighed the savings of finding the "right" used one and having a years worth of my son's college paid for with the savings over a 16.

After a bit more effort put into a search, I did find a good candidate. I bought a 2014 Magnetic Grey / Black 200 about a 4 hour drive from the house. The savings was about 25K vs a 16 offered at below invoice pricing. The worst part about the transaction was dealing with the Toyota dealer. Despite this being the most expensive vehicle on their lot (new or used), they tried to lie and scam as much as possible. They even provided me with the service record for the work that they said they performed when it was taken in from lease. This record had service items they did not perform like resurfaced front rotors which were untouched since new (they had a lip on the outer edge). The salesman said it had the original windshield until I pointed out that this was the only glass that did not say "Toyota" on it and Plinkerton does not make the OEM glass. He said all fluids were changed.....only the engine oil had been. They kept throwing things like "You can trust us because we are owned by Warren Buffet." What a horrible dealer but I got a good vehicle in the end and I won't ever go back.

So, here is the LC family now:

 

[ryanCA]

Congrats. Beautiful truck.

Where is your son going to college?

UPDATE from OP:
To recap, I love my 2000 100 LC. I had no plans to part with it but my 18 year old son is off to college and he really wanted it above anything else he looked at. It's a good choice for him so I figured there is only one replacement option for a LC and that's another LC. I figured I'd go with a 200 series as I've had a 40, 80, and 100. I really like the '16's with the additional safety features, updated styling, 8 speed trans. It was also much easier to find a 16 than a used 200 in an acceptable color in the condition I was looking for and at a reasonable price spread to a new one. Being very satisfied with the durability of a LC, there were certain things I was willing to look past (mileage) and certain things I wasn't (rust, poor maintenance). I was a lot less concerned with buying a used LC than I was a used....fill in the blank...vehicle. I really didn't have the time to do a lot of traveling to look at the limited number of pre-owned 200's out there. I was all set to go with the 16 until my wife and I weighed the savings of finding the "right" used one and having a years worth of my son's college paid for with the savings over a 16.

After a bit more effort put into a search, I did find a good candidate. I bought a 2014 Magnetic Grey / Black 200 about a 4 hour drive from the house. The savings was about 25K vs a 16 offered at below invoice pricing. The worst part about the transaction was dealing with the Toyota dealer. Despite this being the most expensive vehicle on their lot (new or used), they tried to lie and scam as much as possible. They even provided me with the service record for the work that they said they performed when it was taken in from lease. This record had service items they did not perform like resurfaced front rotors which were untouched since new (they had a lip on the outer edge). The salesman said it had the original windshield until I pointed out that this was the only glass that did not say "Toyota" on it and Plinkerton does not make the OEM glass. He said all fluids were changed.....only the engine oil had been. They kept throwing things like "You can trust us because we are owned by Warren Buffet." What a horrible dealer but I got a good vehicle in the end and I won't ever go back.

So, here is the LC family now:

View attachment 1279873

 

[Toyo72]

UPDATE from OP:


After a bit more effort put into a search, I did find a good candidate. I bought a 2014 Magnetic Grey / Black 200 about a 4 hour drive from the house. The savings was about 25K vs a 16 offered at below invoice pricing. The worst part about the transaction was dealing with the Toyota dealer. Despite this being the most expensive vehicle on their lot (new or used), they tried to lie and scam as much as possible. They even provided me with the service record for the work that they said they performed when it was taken in from lease. This record had service items they did not perform like resurfaced front rotors which were untouched since new (they had a lip on the outer edge). The salesman said it had the original windshield until I pointed out that this was the only glass that did not say "Toyota" on it and Plinkerton does not make the OEM glass. He said all fluids were changed.....only the engine oil had been. They kept throwing things like "You can trust us because we are owned by Warren Buffet." What a horrible dealer but I got a good vehicle in the end and I won't ever go back.

Interesting re: dealer. Berkshire owns nearly 30 dealerships in DFW, maybe 4-5 Toyota & Scion. The one you bought from touts honesty on their website. Thanks for posting your experience, that is certainly one to avoid.

 

[MooseRDS]

Congrats. Beautiful truck.

Where is your son going to college?

Thanks. He's headed to Baylor. His Gr Gr Gr Grandfather had a business degree from there. It only took 130 years to have someone follow in those footsteps. I wish the tuition was still at those levels.

 

[MooseRDS]

Interesting re: dealer. Berkshire owns nearly 30 dealerships in DFW, maybe 4-5 Toyota & Scion. The one you bought from touts honesty on their website. Thanks for posting your experience.

I've bought enough vehicles over the years to not be totally shocked at their treatment. They had advertised some items on the truck that were not there when I picked it up. I had them put it in writing in a "We Owe" order. They didn't think that was necessary but I insisted. When those items came in a week later but before they shipped, my salesman called and asked how I wanted to pay for those items. I had enough at that point and lit the guy up. Needless to say they shipped that day and they covered what was owed. Even after the sale they were still trying to scam me. I read different review sites on them. On one, they had 4 stars but I wasn't familiar with that site. On Yelp, they had 1.5 stars and a warning popped up when I went to Yelp stating that Yelp thought that some positive reviews appeared suspicious as they were all posted from the same IP address. They don't publish email contacts on their website either. I wanted to contact the GM. I saw he responded to a negative review online with his email address. That email address was bad. I then noticed that the business manager had given me his card. On the back was a printed message from the GM to contact him if my experience was less than excellent. This card had a different email address from that same GM. Once again, my email came back because the address was not valid. So, they may be owned by Berkshire but they are still slimey.

 

[Markuson]

I've bought enough vehicles over the years to not be totally shocked at their treatment. They had advertised some items on the truck that were not there when I picked it up. I had them put it in writing in a "We Owe" order. They didn't think that was necessary but I insisted. When those items came in a week later but before they shipped, my salesman called and asked how I wanted to pay for those items. I had enough at that point and lit the guy up. Needless to say they shipped that day and they covered what was owed. Even after the sale they were still trying to scam me. I read different review sites on them. On one, they had 4 stars but I wasn't familiar with that site. On Yelp, they had 1.5 stars and a warning popped up when I went to Yelp stating that Yelp thought that some positive reviews appeared suspicious as they were all posted from the same IP address. They don't publish email contacts on their website either. I wanted to contact the GM. I saw he responded to a negative review online with his email address. That email address was bad. I then noticed that the business manager had given me his card. On the back was a printed message from the GM to contact him if my experience was less than excellent. This card had a different email address from that same GM. Once again, my email came back because the address was not valid. So, they may be owned by Berkshire but they are still slimey.

Wow. That is just plain BAD. I'd be calling local news station that loves to nail shady businesses. Just no excuse for this stuff.

 

[linuxgod]

Sorry (but not surprised) to hear about that dealer. The AutoNation dealer north of Chicago that I bought from was about the least sleazy sales experience I've ever had, at least up until the finance department, and they had actually shipped the vehicle from an AutoNation in Houston. I still felt like I needed a shower when I got home though.

 

[txtortoise]

Did I miss the dealer's name somewhere?