RX450H used - can i negotiate with Lexus dealer?

[NickBGlen]

Id like to purchase a 2016 RX450H. However I think the price is pretty steep and also hear SUV prices are down and slow sales in Nov/Dec.

They say its an auto price but whats the best approach and where is best place to find a realistic comparison?

Ticket price is £27k. Any advice welcome!

[luckyduck]

You can always negotiate, and even if they won't drop the price, they may throw in some extras, such as roof rails, or anything else vital to you, even an updated satnav?

[Malc1]

There’ll be a different price for cash or finance and/or a p/ex 

Where are you coming from with this ? 

Malc 

[NickBGlen]

Hi Malc. Ive got cash and a very old px (worth under £1k). 

[Malc1]

The cash is king and your suggested p/ex might be sensible to ignore 

I would always start very very low ….. Christmas approaches and the dealer wants your cash and to shift that chunk of metal from his stock 

Your existing car is worth nowt I’m assuming and could be sold for scrap BUT if it’s a problem for you then just give it away ….. it’s presence might sour your cash deal with the dealer 

What’s the autotrader “value” of your proposed purchase ? 
 

Malc 

[NickBGlen]

Thanks Malc

Very good idea of removing the px from the equation. I will sell seperately.

As for the autotrader valuation its saying £22420. 

Nick

[Malc1]

Then your cash starting point is £17k  ! 

with no dilution of the dealers legal responsibilities to you for the car when sold 

Malc 

[GMB]

I was looking to buy an ES from a Northern lexus dealer a couple of years ago. No part-ex, cash sale. I said OK I like it what can you offer?  They told me how clever their sales manager was and how he monitors market prices and adjusts the price accordingly AND that is the price take it or leave it.

I left it and got a better deal at a different Lexus dealer who had the sense to realise that a smaller profit is better than no profit.🤠

[Spock66]

2 hours ago, NickBGlen said:

Ticket price is £27k. Any advice welcome!

My advice is shop around and be prepared to travel for the right car if need be, it's not a particularly rare car but check the spec carefully as it's pretty complex across the various models and options packs.

[Bluemarlin]

3 hours ago, NickBGlen said:

Thanks Malc

Very good idea of removing the px from the equation. I will sell seperately.

As for the autotrader valuation its saying £22420. 

Nick

I'd probably tell the dealer that I had £22k to spend, but would be open to going a bit higher if things like a 5 year service plan and roadside assistance were thrown in.

[rayaans]

4 hours ago, NickBGlen said:

Id like to purchase a 2016 RX450H. However I think the price is pretty steep and also hear SUV prices are down and slow sales in Nov/Dec.

They say its an auto price but whats the best approach and where is best place to find a realistic comparison?

Ticket price is £27k. Any advice welcome!

There's little information in your post to suggest a reasonable price. 

How many miles, what trim / spec and overall condition of the vehicle including MOTs / services and is it at an independent dealer, private seller or main dealership?

SUV prices are actually up in November and December due to pending winter / poor weather. 

[Spottedlaurel]

Do remember the theft/insurance issues with the 4th gen model, which could be bringing down prices a bit. If you can get a sensible quote and live in an area where that's less of a problem then it could be a tool for negotiation.

If nothing else check it's had the security plate fitted, or get them to do it before you take delivery.

[Tickedon]

7 hours ago, NickBGlen said:

Id like to purchase a 2016 RX450H. However I think the price is pretty steep and also hear SUV prices are down and slow sales in Nov/Dec.

They say its an auto price but whats the best approach and where is best place to find a realistic comparison?

Ticket price is £27k. Any advice welcome!

Stick the registration number and mileage into WeBuyAnyCar, Motorway etc. Add £2-3k on to cover dealer margin. There’s your opening offer. 

Certainly helps if there are other similar models on AutoTrader to point to - even a higher trim works, doesn’t need to be an exact match (“why would I pay that when for £1k more I can get…”). 

[Barry14UK]

It can depend how keen you are on a particular model,colour, trim, upper mileage and condition and how sales are going with a particular dealer.  I was in this situation when I first seriously looked for a Premier RX450h 3rd Gen.  I saw and drove a really nice car that met all I wanted.   It had things like adaptive cruise, heated steering and a couple of other things that even few Premier models have.  The asking price was circa £32K.  I offered £30K cash on the spot.  The sales lady said her boss would laugh at her if she put that to him.  She came back to me offering about three hundred off saying someone else was enquiring after it.  It was closing time and I said I would think about it overnight and get back to the main dealer the next morning which I did.  However the car had been sold!  I was very annoyed I didn't pay the asking price and have that car.

If you are less fussy than me and more flexible on variables, you might be able to get a bargain as you will have more cars to choose from.  How long you are prepared to look can also be a factor.

  

 

[Bezzer]

All dealers are different, some will haggle some won't. I'd got a budget of £32k cash for a UX250, narrowed it down to one that was up for £33,295. Well worth it, wanted it , pushed it up and offered £33k but declined saying their head office set prices and wouldn't budge. Went home and found the same spec,colour, half the mileage (only 2,000) at another dealer 80 miles away but £33,990. Rang them up next day, gave them my top offer of 33k and after speaking to the manager agreed. Visited that day,test drove, bought it, they chucked in brand new bootliner, rubber mats and a tank full of fuel without asking. First dealer rang me following day, obviously to deal but cut his spiel off with the news we'd already bought, made my day. 🙂

[Sybaris]

The thing about negotiating with a dealership is:

a) They will never sell at a loss, so don't be scared to push the boundaries a bit.  I have heard all sorts of "stories" to get a customer to buy.  The ones I usually end up buying from are where the sales people are just open and up front, without all the psych games.

b) Be prepared to spend a lot of time there.  Again in my experience its a battle of wits.  With another maker, I spent about 6 hours there until they caved and gave me the deal I wanted.

c) Focus on the out the door price, the bottom line.  Not how much per month can you afford but all in, with any extras, service plans etc, what will it cost you to change.

d) Don't be scared to walk away, even after 6 hours of trying to negotiate.  Its a game of control, the person in control of the negotiations generally gets what they are happy with.

e) Do your research.  Know the cost for your trade (if you are trading in), know the cost of the car you want.  Look at sites such as Carwow.  Look at other dealerships and their cars. Know how much you want to borrow and get competitive quotes from your own banks for loans.  Print documentation and go in with a folder of your research.  The less wiggle room you give the sales person, the better your chances of a lower price.

[Malc1]

17 hours ago, NickBGlen said:

Thanks Malc

Very good idea of removing the px from the equation. I will sell seperately.

As for the autotrader valuation its saying £22420. 

Nick

Nick hi, I'm back

You have lots of helpful and useful info above 

You're having decided the "right price" for the car gives you your possible upper price to pay ......  if you wanted

The lowest price to pay depends on your negotiating skills and remember, your bid can rarely go down.  .  so go there, drink their coffee  and start low ............  maybe 😉

Good luck

Malc

 

[Zxc]

Certainly trade prices are crashing right now. Down 4.2% last month which is the biggest monthly drop in 12 years, and down 13.6% since April. CAP are predicting another 10% drop by the end of the year. The problem is a lot of dealers are hanging onto old stock they bought at a higher price hoping things will pick up, so the drop in retail pricing has not been as big.

Give it time though I think we’ll see big drops as the lower prices filter through. A 2021 RX450H with 9k miles popped up on AT the other week for £33K, obviously fresh from the auction bought at a lower price, it did sell but then it was 7-8K lower than the other overpriced ones that have been sitting around for 6 months.

27K for a car coming up for 8 years old seems an awful lot, as someone else said put the reg into wbac to see what that quotes and view it as a trade price. A garage might expect 3-4K margin at that price, so it will give you an idea.

Also install the AT price plugin on chrome, it will show you the historical pricing the garage has tried to sell it at and how long they’ve had it.

[Lexnew]

About 1 1/2 years ago I had seen advertised for sale a 2022  RX450H which was available to view at my local  Lexus main dealer. I visited the dealership and went for a test drive in the advertised vehicle. The vehicle was an ex demonstrator model with low mileage,  I  decided to make them an offer for the vehicle. The vehicle was advertised for £54,000, I was prepared to pay £52,000.The salesperson who I was dealing with said "I cannot make a decision about the price without seeking approval from the sales manager." The salesperson  returned after visiting the sales manager and said  "the price that I had offered was below the cost price and the dealership would not make a profit". I walked away from the dealership and decided to look at all the costs for buying a new RX450H Mk 4. I gave Carwow all the details of the vehicle that I required, this would be to exactly  the same specification as the ex demonstrator vehicle that I had wanted to buy from the Lexus main dealer. When all of the quotations came back to Carwow from the dealerships, I was quite surprised to see that my local dealership was offering a brand new RX450H for £50,000 ( £4,000 less than the ex demonstrator model they were advertising). I decided to buy a new  RX450h via Carwow, they  put me in touch with my Local Lexus dealership. I was so pleased to have purchased a brand new car for less money than an ex demonstrator model.  I had noticed that the same vehicle that I had test driven at the Lexus dealership was still for sale 5 months later at a price of £50,000. I have learnt not to always believe a car salesperson, it far better to follow your own nose, and sometimes look away from main dealerships as they tend to keep second hand vehicle prices unrealistically high.

[b4u2]

@Lexnew

So interesting!

[Sybaris]

I always use Carwow to give me some idea of prices

[Malc1]

Nick hi, how did you get on with the dealer ?

Malc