I’m thinking of buying a used Lexus. Have any of Y’all ever bought one under the conditions in the subject line? What should I watch out for and any other suggestions would be appreciated.
Thanks
Quasi
I recently purchased a certified “pre-owned” Lexus, and I would definitely recommend this to those who can afford to do so. Typically, you’re buying a car that’s 3-4 years old with around 40-50K miles, but is in near-perfect condition. On the one I bought they replaced the tires and brakes, so it was essentially like new. I didn’t get the “new car smell”, but I saved over $20K off of the original MSRP.
The high-end auto dealers deal mainly with wealthy clientele, and wealthy people often got that way because they are more intelligent than people of lower socioeconomic status. This means that the salesmen are less likely to try idiotic ploys (do you want rust-proofing for $700? fabric protectant for $400?) to get your money, as most of their customers wouldn’t fall for it.
I probably wouldn’t be willing to buy “pre-owned” if I were buying a domestic model with questionable reliability, but for the Japanese models I think it makes economic sense. Lexus has been ranked first in Vehicle Dependability Index by J.D. Power and Associates for the past eight consecutive years. Their studies also found that a typical four-year-old Lexus is more reliable than the other brands when they’re new.
Also, with 0% financing available many buyers who would have otherwise purchased used have opted for new cars. This diminished demand has resulted in lower overall prices for used cars. As long as you go in with the attitude that you can walk away at any time, you should be able to negotiate quite a bit off of the sticker price.
Which model were you interested in buying?
I’ve never bought such a critter, and am basically suspicious of them - if the dealer is the one doing the “certification”, there is a built-in conflict of interest.
Things to check:
Price - can you have an independant mechanic check out a prospective purchase for less than the dealer wants for the “certification”?
Is there a real warranty offered, or just some nice-sounding crap? A Lexus should be good for 200,000 miles with only routine maintenance - a warranty of ‘5 years/50K miles’ is (or should be) meaningless. Don’t get me started on Americans and insurance/warranties.
Look up the model, year, engine/transmission service requirements - if there is nothing except routine plugs/fluids/lube stuff, the car should be bullet-proof.
Bottom line: cynic that I am, I suspect the “certification” is just another varient of the “extended warrantee” scam.
My wife works at a car dealership, and she tells me that the certified preowned is a great program. The dealer has to subscribe to the standards set by the factory, and warrranties are included. If I was buying a car, this is the way I would go. It is the best value for the buck in my opinion.
I just bought a Certified Pre-Owned Ford ZX2 the other day. It is in like new condition. New tires, new brakes, like new interior, etc. The dealership I bought it from had very high standards for their used cars. Under a certain amount of years, I believe four, under a certain amount of miles, clean title, no extensive modifications to the engine, etc. It also had an extended warranty that was included in the price.
As for the price, I saved $7,000 to $8,000 buying used and I was able to get it for $1,000 under Blue Book value. I am pleased as punch and would recommend it but only if the dealer has a good reputation.
It is a rip-off used to justify inflated prices. Dealers make HUGE profits off “certified” used cars. They take them in trade, giving almost nothing to the idiot who bought it new and drove it for 2 years, then sell it for major bank.
Buy a quality used car from a private party. You get a good deal, he pockets what the car is actually worth.
I did this and am now the proud owner of a BMW 740iL. Awsome car!
I have a Volvo S70 I got in one of those deals.
Had about 13K miles on it and was almost $10K less than a brand new one.
Warantee is good for 100K miles.
All in all I’m quite happy.
I don’t see how the fact that the dealer is ripping off the seller and making a huge profit is really my concern as a buyer. Just saying…
Well, I wanted a 2000 ES300 4 door sedan, but Blue Book on that car is 23-5, so it might be cost-prohibitive for me.
Quasi