Fully loaded 2016 Lexus RX350 for $34K - good deal?

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Topic Author
crossbow
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Joined: Mon Nov 12, 2018 6:47 pm

Fully loaded 2016 Lexus RX350 for $34K - good deal?

Post by crossbow » Sat Nov 09, 2019 4:42 pm

Lexus owners, wanted to get your thoughts on this 2016 RX350 "fully loaded" with 28k miles. It has these features:

Heads up display
Pano roof
Heated and cooled seats
Lexus Safety Sense+
Mark Levinson audio
360 Camera

No-haggle price is $34K ($37.5K OTD)

Honestly the only features we want are heated and cooled seats and Safety Sense+. The rest are nice to have but we don't really care if it doesn't come with those options. We were initially hoping to get one at $35k OTD with less than 40k miles. So my question is, would you pay the extra $2.5K for these features? The salesperson says it's a killer deal. Is it?

Helo80
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Re: Fully loaded 2016 Lexus RX350 for $34K - good deal?

Post by Helo80 » Sat Nov 09, 2019 5:00 pm

I don't have time to price the whole thing out with a 2020... but I generally would not trust a salesman that says it's a "killer deal".... I would say if it's fully loaded, has the Nav and damn near everything else the 2016's had.... with "only" 28k miles and about $25k off sticker of what a 2016 MSRP would have been....I think it's a pretty decent deal.

Assuming everything checks out.... I'm guessing no accidents and it's coming off of a lease.... The RX will outlive pretty much every other car in its class with the exception of Highlander. Off the top of my head, I believe that 2020 RX's "start" at $45k... but in typical fashion, it won't come with anything that you'd expect a Lexus to have, and it will be bare-boned compared to competition.

Gill
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Re: Fully loaded 2016 Lexus RX350 for $34K - good deal?

Post by Gill » Sat Nov 09, 2019 5:33 pm

Doesn't sound like a "killer deal" but maybe not too bad a deal. Carmax shows several 2016's with fewer miles and lower prices but possibly not as fully loaded as the one you are considering. For example, they have two with 18K miles, one for $33K and one for 34K.
Gill
Cost basis is redundant. One has a basis in an investment | One advises and gives advice | One should follow the principle of investing one's principal

atikovi
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Re: Fully loaded 2016 Lexus RX350 for $34K - good deal?

Post by atikovi » Sat Nov 09, 2019 9:45 pm

Dealer has around $30,000 in it, maybe $31K tops. Might be no haggle, but if you don't really have to have that one, maybe tell them you could pay up to $33K if you want it.

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whodidntante
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Re: Fully loaded 2016 Lexus RX350 for $34K - good deal?

Post by whodidntante » Sat Nov 09, 2019 9:52 pm

crossbow wrote:
Sat Nov 09, 2019 4:42 pm
The salesperson says it's a killer deal.
And Edward Jones strip mall advisors say that American Funds are the best. Not exactly impartial advice, eh?

Topic Author
crossbow
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Re: Fully loaded 2016 Lexus RX350 for $34K - good deal?

Post by crossbow » Sat Nov 09, 2019 11:54 pm

Yeah... Ok thanks everyone! We'll think about it.

inbox788
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Re: Fully loaded 2016 Lexus RX350 for $34K - good deal?

Post by inbox788 » Sun Nov 10, 2019 12:25 am

crossbow wrote:
Sat Nov 09, 2019 4:42 pm
Lexus owners, wanted to get your thoughts on this 2016 RX350 "fully loaded" with 28k miles. It has these features:

Heads up display
Pano roof
Heated and cooled seats
Lexus Safety Sense+
Mark Levinson audio
360 Camera

No-haggle price is $34K ($37.5K OTD)

Honestly the only features we want are heated and cooled seats and Safety Sense+. The rest are nice to have but we don't really care if it doesn't come with those options. We were initially hoping to get one at $35k OTD with less than 40k miles. So my question is, would you pay the extra $2.5K for these features? The salesperson says it's a killer deal. Is it?
Doesn't sound fully loaded. F-sport? AWD? BSMS? LED headlights? HUD? Missing several other nice options. What's the Original MSRP? What city or state?

Seems overpriced. New one runs 50-60k, with about 50% residuals after 3 years, so I'd expect 25-30k range. You might as well think about leasing or purchasing a new one instead. They're selling 2020's now, so you don't even get much if any original warranty other than powertrain.

Is this CPO from a dealer?

Topic Author
crossbow
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Re: Fully loaded 2016 Lexus RX350 for $34K - good deal?

Post by crossbow » Tue Nov 12, 2019 9:56 am

inbox788 wrote:
Sun Nov 10, 2019 12:25 am
crossbow wrote:
Sat Nov 09, 2019 4:42 pm
Lexus owners, wanted to get your thoughts on this 2016 RX350 "fully loaded" with 28k miles. It has these features:

Heads up display
Pano roof
Heated and cooled seats
Lexus Safety Sense+
Mark Levinson audio
360 Camera

No-haggle price is $34K ($37.5K OTD)

Honestly the only features we want are heated and cooled seats and Safety Sense+. The rest are nice to have but we don't really care if it doesn't come with those options. We were initially hoping to get one at $35k OTD with less than 40k miles. So my question is, would you pay the extra $2.5K for these features? The salesperson says it's a killer deal. Is it?
Doesn't sound fully loaded. F-sport? AWD? BSMS? LED headlights? HUD? Missing several other nice options. What's the Original MSRP? What city or state?

Seems overpriced. New one runs 50-60k, with about 50% residuals after 3 years, so I'd expect 25-30k range. You might as well think about leasing or purchasing a new one instead. They're selling 2020's now, so you don't even get much if any original warranty other than powertrain.

Is this CPO from a dealer?
We did not want F sport and AWD (not needed in CA). BSMS included in Safety Sense. LED headlights yes. HUD yes (I mentioned this in initial post).

Wow Lexus depreciation is 50% after 3 years?!? That's terrible! If true then this is definitely overpriced. Thanks!

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8foot7
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Re: Fully loaded 2016 Lexus RX350 for $34K - good deal?

Post by 8foot7 » Tue Nov 12, 2019 9:57 am

crossbow wrote:
Tue Nov 12, 2019 9:56 am


Wow Lexus depreciation is 50% after 3 years?!? That's terrible! If true then this is definitely overpriced. Thanks!
No, it's more like 35-40%. Residuals are typically in the 60s on the RX after 3 years/30k miles. For slower moving Lexus models, it can dip towards 50.

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8foot7
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Re: Fully loaded 2016 Lexus RX350 for $34K - good deal?

Post by 8foot7 » Tue Nov 12, 2019 10:05 am

OP I'd say $32,500 out the door on that and not a penny more. The poster who said the dealer has 30k in it is right on, plus he probably made money on the original sale. These Lexus leases are like an annuity for the dealer; they make the original sale; then they make the trade-in money and the new lease, then the resale of the trade-in.

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sunny_socal
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Re: Fully loaded 2016 Lexus RX350 for $34K - good deal?

Post by sunny_socal » Tue Nov 12, 2019 10:10 am

8foot7 wrote:
Tue Nov 12, 2019 10:05 am
OP I'd say $32,500 out the door on that and not a penny more. The poster who said the dealer has 30k in it is right on, plus he probably made money on the original sale. These Lexus leases are like an annuity for the dealer; they make the original sale; then they make the trade-in money and the new lease, then the resale of the trade-in.
If the dealer has 30k in it you're basically saying "dealer will make no money" since the extra 2.5k in your OTD price is tax. Too aggressive IMO. Sure try it and see if they let you walk.

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8foot7
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Re: Fully loaded 2016 Lexus RX350 for $34K - good deal?

Post by 8foot7 » Tue Nov 12, 2019 10:16 am

sunny_socal wrote:
Tue Nov 12, 2019 10:10 am
8foot7 wrote:
Tue Nov 12, 2019 10:05 am
OP I'd say $32,500 out the door on that and not a penny more. The poster who said the dealer has 30k in it is right on, plus he probably made money on the original sale. These Lexus leases are like an annuity for the dealer; they make the original sale; then they make the trade-in money and the new lease, then the resale of the trade-in.
If the dealer has 30k in it you're basically saying "dealer will make no money" since the extra 2.5k in your OTD price is tax. Too aggressive IMO. Sure try it and see if they let you walk.
Tax here on that amount is $900. YMMV. My idea basically is let the dealer have $1,500ish on the deal.

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