Join Early Retirement Today
Reply
 
Thread Tools Search this Thread Display Modes
Certified Preowned or Carmax 2015 Lexus
Old 12-05-2018, 12:36 PM   #1
Full time employment: Posting here.
 
Join Date: Oct 2017
Location: Chapel Hill, NC
Posts: 592
Certified Preowned or Carmax 2015 Lexus

My current car is a 2006 Lexus RX with 200,000 miles, I have loved it. There is nothing really wrong with it but I am feeling uncomfortable driving it on long trips. I want to get another Lexus RX. I do not like the new body style (which changed in 2016) so I m looking at 2015s.

I have spent many hours dealing with 3 Lexus dealerships and I am totally frustrated, they act like they don't even want to sell me a car!. The closest dealership is about 20 minutes away and has no cars I like. The second closest is 40 minutes away, has several cars I like, I first tried to deal with them by internet and then in person. They have hardly budged on their prices which appear to be way over priced to me. They go down $200 at a time and act like they are doing me a favor. About the only thing they have dropped is their awful $600 document fee. I have dealt with 2 other dealerships by phone/internet, they have come down in price a little more but still too high in my opinion. All of the dealerships say they will take my existing car in trade at the Carmax price.

So I take my old Lexus to Carmax to get an appraisal (painless, got a decent price for the old one) and low and behold they have just the 2015 Lexus RX I am looking for. Right color, year, options, clean Carfax,etc, it even has lower miles than the ones at the dealership (Carmax car has about the 30,000 miles, most of the dealership cars around 40,000). The only difference is that the dealer cars are Certified Preowned. The Carmax car of course is not CPO. The real icing on the cake is that the Carmax car is over $4000 less than the lowest quote I have from a dealer.

How much value does a CPO add to a car? Would you go with the Carmax with less mileage and $4000 cheaper?

I want to be able to go back to the dealer and say too bad, so sad, you missed your chance.
__________________

harllee is online now   Reply With Quote
Join the #1 Early Retirement and Financial Independence Forum Today - It's Totally Free!

Are you planning to be financially independent as early as possible so you can live life on your own terms? Discuss successful investing strategies, asset allocation models, tax strategies and other related topics in our online forum community. Our members range from young folks just starting their journey to financial independence, military retirees and even multimillionaires. No matter where you fit in you'll find that Early-Retirement.org is a great community to join. Best of all it's totally FREE!

You are currently viewing our boards as a guest so you have limited access to our community. Please take the time to register and you will gain a lot of great new features including; the ability to participate in discussions, network with our members, see fewer ads, upload photographs, create a retirement blog, send private messages and so much, much more!

Old 12-05-2018, 12:41 PM   #2
Give me a museum and I'll fill it. (Picasso) Give me a forum ...
REWahoo's Avatar
 
Join Date: Jun 2002
Location: Texas Hill Country
Posts: 45,427
I'm a fan of CPO cars but I'd go with the Carfax vehicle in a heartbeat.

You are highly unlikely to run into any repair issues on a low-mileage, late model Lexus, so the value of going the certified route is questionable. Plus, you can pay for some serious repairs with the $4K you'll save.
__________________

__________________
Numbers is hard

Charter resident of the lumpen slums of cyberspace

Retired in 2005 at age 58, no pension
REWahoo is offline   Reply With Quote
Old 12-05-2018, 12:58 PM   #3
Thinks s/he gets paid by the post
 
Join Date: Aug 2004
Location: Laurel, MD
Posts: 4,347
To me, the CPO is worth about $2k extra for a car like that.
I did a quick search for my area and here are the results
Carmax has 20 vehicles that match 2015 Lexus RX 28-40k Miles price range is $28-32k
Lexus L/Certified has 25 vehicles match 2015 Lexus RX under 40k miles price range is $29-35k
(I don't know anything about the submodels and options.)

It does seem like the Lexus dealers in your area are aggressive to say the least.
I would look very closely at the history of the vehicle and wouldn't have a problem buying through Carmax even if you pay for their optional warranty which may or may not be honored by Lexus. Our Chevy dealer took the Carmax warranty for my daughter's car.
__________________
...with no reasonable expectation for ER, I'm just here auditing the AP class.Retired 8/1/15.
jazz4cash is offline   Reply With Quote
Old 12-05-2018, 01:03 PM   #4
Thinks s/he gets paid by the post
 
Join Date: Dec 2014
Location: Florence, AL/Helen, GA
Posts: 3,622
All the CPO is would be a very expensive ESP package--which the dealer also makes a profit on.

Congratulations to you finding what you're looking for.

I was over at my Lexus dealership in Memphis yesterday meeting with the owner. I can honestly say they are the finest car dealership of any brand I've ever seen. And I worked in the automobile field 24 years and worked with 100's of dealers all over the country.
Bamaman is online now   Reply With Quote
Old 12-05-2018, 01:15 PM   #5
Recycles dryer sheets
 
Join Date: Nov 2017
Posts: 74
I would go with Carmax. If you’re worried about not having the CPO, then buy an extended warranty from Carmax. Or call Lexus and as if you can buy it from them.
AS2019 is offline   Reply With Quote
Old 12-05-2018, 03:19 PM   #6
Thinks s/he gets paid by the post
 
Join Date: Jun 2017
Location: Western NC
Posts: 1,474
Buy from Carmax, post pics of your new ride!
ncbill is offline   Reply With Quote
Old 12-05-2018, 03:28 PM   #7
Thinks s/he gets paid by the post
Red Badger's Avatar
 
Join Date: Jan 2017
Location: Piedmont Region
Posts: 1,695
Carmax. Then, if you have a trusted mechanic, have him inspect it thoroughly. If not, Google for one. I've had 2 in our 12 years here (1st one got acquired by a chain - homey don't do chain garages).

I did return a car to Carmax (5 day buy back guarantee) a few years ago. They asked why and I was happy to answer. But that was all. Had my money back in about 10 days.
__________________
Never let yesterday use up too much of today.
W. Rogers
Red Badger is online now   Reply With Quote
Old 12-05-2018, 03:46 PM   #8
Full time employment: Posting here.
 
Join Date: Oct 2017
Location: Chapel Hill, NC
Posts: 592
OP here, I do have a good local independent mechanic and will get him to check out the Carmax car during the 7 day trial period.

I was using the local Lexus dealer to service my old Lexus but every year the oil change, etc got more and more expensive. So I changed to an independent mechanic and he charged me about one third of what the dealership charged for the same work.
harllee is online now   Reply With Quote
Old 12-05-2018, 03:56 PM   #9
Recycles dryer sheets
SmallCityDave's Avatar
 
Join Date: Oct 2018
Posts: 138
Quote:
Originally Posted by harllee View Post
OP here, I do have a good local independent mechanic and will get him to check out the Carmax car during the 7 day trial period.

I was using the local Lexus dealer to service my old Lexus but every year the oil change, etc got more and more expensive. So I changed to an independent mechanic and he charged me about one third of what the dealership charged for the same work.

Sounds like the difference is the warranty and I doubt that it's worth $4k, for me that might be worth an extra $1000.
SmallCityDave is offline   Reply With Quote
Old 12-05-2018, 04:13 PM   #10
Recycles dryer sheets
atmsmshr's Avatar
 
Join Date: Mar 2016
Location: An island off the coast of Florida. (Ok - if you really need to know it's Vero Beach)
Posts: 294
We have done both CPO and Carmax.

Its all about value - which in this case sounds like Carmax, all else being equal.
atmsmshr is offline   Reply With Quote
Old 12-05-2018, 04:17 PM   #11
Moderator
Aerides's Avatar
 
Join Date: Nov 2015
Posts: 3,599
CPO and regular pre-owned generally differ in warranty. I was lucky because I got a one year old CPO, so it had 2 years of the original 3 on the warranty, and the CPO added 2, so I ended up with total 4 years under warranty - more than buying new.

Your experience on the lack of negotiation is not suprising. Dealers make their profits of selling used, not new. And they know that quality CPOs will sell - especially this time of year when shoppers are looking for deals anyway.

$4k, when everything else is the same, and with 7 days to be sure? I think that's worth the difference.
Aerides is offline   Reply With Quote
Old 12-05-2018, 04:44 PM   #12
Confused about dryer sheets
 
Join Date: May 2015
Posts: 5
Scotty Kilmer, mechanic for 5 years, on certified pre-owned:
Ever_Ready is offline   Reply With Quote
Old 12-05-2018, 04:47 PM   #13
Thinks s/he gets paid by the post
Ready's Avatar
 
Join Date: Mar 2013
Location: Southern California
Posts: 2,366
I've owned Lexus vehicles since 2004. I would never buy a used vehicle from a Lexus dealership. The markups are ridiculously high. I've never bought from Carmax before so I can't comment on that, but I've generally had good results buying late model cars from private parties. Individuals are just trying to sell their cars so they can buy a new one. They are not worried about how much profit they are making.

Everyone generally starts off pricing the car at an unrealistically high price, but eventually when no real buyers come along they come down to a more realistic price. That's the right time to buy from them.
Ready is offline   Reply With Quote
Old 12-05-2018, 04:54 PM   #14
Full time employment: Posting here.
 
Join Date: Oct 2017
Location: Chapel Hill, NC
Posts: 592
Ready, how do your find used Lexus vehicles for sale from a private individual? I have looked at Craiglist and Autotrader, etc but have not seen any 2015 Lexus RXs for sale.
harllee is online now   Reply With Quote
Old 12-05-2018, 05:05 PM   #15
Thinks s/he gets paid by the post
Ready's Avatar
 
Join Date: Mar 2013
Location: Southern California
Posts: 2,366
Quote:
Originally Posted by harllee View Post
Ready, how do your find used Lexus vehicles for sale from a private individual? I have looked at Craiglist and Autotrader, etc but have not seen any 2015 Lexus RXs for sale.
I'm basing my input on living in Southern California, where there are a lot of people living in a fairly small area. A quick check on Autotrader shows 207 2015 RX350 cars available for sale. Only 2 are private sales though. I'd probably see more if I expanded the search to other RX models and years.

You could also try Edmunds.com. But if you live in an area that is not high density, there may be only so many options.
Ready is offline   Reply With Quote
Old 12-05-2018, 10:13 PM   #16
Thinks s/he gets paid by the post
Katsmeow's Avatar
 
Join Date: Jul 2009
Posts: 4,147
Given your situation, although I like certified pre-owned, I would go for the Carmax vehicle.
Katsmeow is offline   Reply With Quote
Old 12-05-2018, 10:46 PM   #17
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
 
Join Date: May 2005
Posts: 15,294
Quote:
Originally Posted by Ever_Ready View Post
Scotty Kilmer, mechanic for 5 years, on certified pre-owned:



Did not watch the whole video but from the gist... this...


Years ago I had a coworker who bought a CPO Lexus.... she picked it up and was driving but found out that she should have gotten some info on that certification... dealer that sold it to her sent her some paperwork that was dated the day she asked!!! IOW, they did NOTHING but put CPO on the ad and sold it for more money since it looked good and had low miles..


Go with CarMax... get it checked by your mechanic... save $4,000....


BTW, you can do a lot of repair for $4,000 if needed...
Texas Proud is offline   Reply With Quote
Old 12-06-2018, 10:37 AM   #18
Recycles dryer sheets
 
Join Date: Oct 2017
Location: Florence
Posts: 50
Quote:
Originally Posted by harllee View Post
My current car is a 2006 Lexus RX with 200,000 miles, I have loved it. There is nothing really wrong with it but I am feeling uncomfortable driving it on long trips. I want to get another Lexus RX. I do not like the new body style (which changed in 2016) so I m looking at 2015s.

I have spent many hours dealing with 3 Lexus dealerships and I am totally frustrated, they act like they don't even want to sell me a car!. The closest dealership is about 20 minutes away and has no cars I like. The second closest is 40 minutes away, has several cars I like, I first tried to deal with them by internet and then in person. They have hardly budged on their prices which appear to be way over priced to me. They go down $200 at a time and act like they are doing me a favor. About the only thing they have dropped is their awful $600 document fee. I have dealt with 2 other dealerships by phone/internet, they have come down in price a little more but still too high in my opinion. All of the dealerships say they will take my existing car in trade at the Carmax price.

So I take my old Lexus to Carmax to get an appraisal (painless, got a decent price for the old one) and low and behold they have just the 2015 Lexus RX I am looking for. Right color, year, options, clean Carfax,etc, it even has lower miles than the ones at the dealership (Carmax car has about the 30,000 miles, most of the dealership cars around 40,000). The only difference is that the dealer cars are Certified Preowned. The Carmax car of course is not CPO. The real icing on the cake is that the Carmax car is over $4000 less than the lowest quote I have from a dealer.

How much value does a CPO add to a car? Would you go with the Carmax with less mileage and $4000 cheaper?

I want to be able to go back to the dealer and say too bad, so sad, you missed your chance.
I would definitely go CARMAX. Thery go through the cars pretty good and are no hassle/haggle. They give excellent trade in rates, too. 100% go with CARMAX, since the dealer doesn't really want to sell you a used, they want you to buy new.
__________________
"Believe you can and you are half way there."
StephieJean is offline   Reply With Quote
Old 12-06-2018, 12:07 PM   #19
Give me a museum and I'll fill it. (Picasso)
Give me a forum ...
Midpack's Avatar
 
Join Date: Jan 2008
Location: LKN
Posts: 13,955
It's been a long time since I bought a used car, but I always took the car to an independent mechanic of my choice to look the car over thoroughly. I wouldn't care if it came from a dealer (CPO), CarMax or wherever. They could all be good.

Are you the guy who wanted to make the best deal possible from your couch? You could have had a good deal by now IME (every car I've bought since 1988)...
__________________
No one agrees with other people's opinions; they merely agree with their own opinions -- expressed by somebody else. Sydney Tremayne
Retired Jun 2011 at age 57

Target AA: 45% equity funds / 30% bond funds / 25% cash - radically changed Nov 2018
Target WR: Approx 2.5% Approx 20% SI (secure income, SS only)
Midpack is offline   Reply With Quote
Old 12-06-2018, 12:54 PM   #20
Full time employment: Posting here.
 
Join Date: Oct 2017
Location: Chapel Hill, NC
Posts: 592
Midpack I am the "gal" who wanted to make the best deal possible from my couch! I have now done both--gone to the dealer not too far away and dealt by internet with the dealer a couple of hours away. I have not gotten a good price either way--going to the dealership was a complete waste of time. I had an appointment but still had to wait and felt like they were not interested in making a sale. I actually got the best deal on the internet, but it was only a few hundred dollars off asking price and a waiver of the doc fee.

I found the Carmax car by "accident." I was getting my old Lexus appraised at Carmax and
was wondering around and saw the Lexus I am probably going to buy.

Midpack if you have gotten great deals on a used car like a Lexus by going to the dealership how did you do it? I spent hours driving to the dealer, test driving, talking to the salesman and his "manager" all for nothing. They only came down a few hundred and said "it was the best they could do" even though they had at least 10 2015 RXs on the lot. Now they keep calling me but haven't come down on the price. I have quit answering their calls. A waste of time.
__________________

harllee is online now   Reply With Quote
Reply


Currently Active Users Viewing This Thread: 1 (0 members and 1 guests)
 
Thread Tools Search this Thread
Search this Thread:

Advanced Search
Display Modes

Posting Rules
You may not post new threads
You may not post replies
You may not post attachments
You may not edit your posts

BB code is On
Smilies are On
[IMG] code is On
HTML code is Off
Trackbacks are Off
Pingbacks are Off
Refbacks are Off


Similar Threads
Thread Thread Starter Forum Replies Last Post
CarMax sanfanciscotreat Other topics 18 09-02-2017 07:31 AM
Going to Sell Our Car to CarMax TrvlBug Other topics 45 09-01-2017 08:59 AM
ValuMax Cars at CarMax easysurfer Other topics 0 07-08-2014 01:42 PM
The new CEO of Ford drives a Lexus LS430............. Cut-Throat Other topics 96 09-22-2006 03:33 PM
CARMAX, AUTOTRADER, or???? Tommy_Dolitte Young Dreamers 27 08-22-2004 03:51 PM

» Quick Links

 
All times are GMT -6. The time now is 08:27 PM.
 
Powered by vBulletin® Version 3.8.8 Beta 1
Copyright ©2000 - 2019, vBulletin Solutions, Inc.