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Lexus LX 570 Prices Paid and Buying Experiences

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Comments

  • kyfdx@Edmundskyfdx@Edmunds Posts: 25,979
    When they are selling, price goes up because they can sell...

    When they aren't selling, price goes up because there aren't many of them?

    That's all salesperson BS... Slow sellers = big discount..

    Moderator - Prices Paid, Lease Questions, SUVs

  • bk57bk57 Posts: 2
    Maybe I was in the right place at the right time or the market is a lot softer now, but I was able to pick up a 2008 LX570 with 2k miles for about $15k off the sticker price two weeks ago in the Chicago area. The buyer paid full sticker last fall and wanted one in black but purchased one in gray, then sold the gray one back to the dealership for a big loss. The vehicle then sat on the dealer's lot for 3-4 months. I told the salesperson I would pay $70k not a penny more. They wanted my 2005 LX470 with 100k miles and gave me $22k for that vehicle. Net cost was about $48k plus tax. I really liked my LX470 but there is no comparison between it and the LX570.
    bk57
  • bmlexusbmlexus Posts: 755
    You have got a great deal.

    How was your experience with the LX470? Was it new when you purchased it?

    Whats your feeling with the new lx570? How does it feel compare to the LX470, better comfort? Bigger?

    Have you looked into other cars, for example X5, before making your decision?
  • bk57bk57 Posts: 2
    I purchased my 2005 LX470 with 3k miles from dealership and added 100k warranty at the time of purchase. I kept it for 100k miles. No problems with any major components other than replacing manifold under the warranty. I also had to have the passenger side outside mirror replaced twice because of electrical problem. So I made money on the warranty.

    I really enjoyed the LX470 because it had a smooth ride and handled well, was ergonomically well designed and just felt solidly built. the more I rode in it the more I liked it. I thought the power was adequate but could have used a few more horses.

    The LX570 eliminated the lack of power problem with the same gas mileage figures. When you close the doors, it feels even more solidly built, quieter and even better ergonomically designed. The interior is more luxurious, the seats feel more comfortable. The kids like the fact that the middle seats are heated and cooled. In summary, Lexus took the LX470 and greatly improved the performance and creature comforts.

    I never considered the X5 because of smaller size and reliability issues.

    bk57
  • bmlexusbmlexus Posts: 755
    Thank you for the quick reply.

    I can see that the new LX is better in everyway compared to the old LX.

    The problem I have is, I don't need such a big vehicle, but like the high driving position.

    Like you stated x5 is small for you which is something I like, but reliability is an issue with me.

    Sometime back, I almost purchased the x6, but after hearing horrible reliability issues with turbo engine heating problems, I can't buy such a car.

    Ever since can't make up my mind, like the new RX, but consider it to be a ladies car.
  • dgltjdgltj Posts: 2
    So I after months of searching I finally find a vehicle I like (the LX 570). The price I've been offered is $83200 48 month lease with the Mark Levinson sound system, Lexus Link (both of which I believe are standard in this model), climate control seats, park assist and of course the iPod integration. After spending 3 hours in the dealership and having the finance guy try to work me the offer they came up with is a monthly payment of around $1300. But wait this is after they value my trade-in at about $5K and with me putting down $15K. I don't know what money factor they used, but I'm assuming it is tied to an individual's credit rating and mine is a solid B. I can't help but think that: a) I'm not getting any kind of discount on the MSRP, b) with the amount of money I'm willing to put down I should be getting a much lower monthly payment, and c) I'm being taken for a ride. What advice can you give me on my next steps with the dealer? Thanks.
  • kyfdx@Edmundskyfdx@Edmunds Posts: 25,979
    With $20K down, you could buy the vehicle for $1300/mo. for just 60 months.. assuming a selling price of $83,200.. (Is an LX570 really $83K?)

    I'm not familiar with the lease terms on an LX, but you can ask Car_man, here: Lexus LX 570 Lease Questions

    I would never put $20K down on a lease... Before you do anything, you should certainly make some phone calls to other Lexus dealerships, just to see if they are even in the same universe, as far as pricing..

    regards,
    kyfdx

    Moderator - Prices Paid, Lease Questions, SUVs

  • dgltjdgltj Posts: 2
    So I after months of searching I finally find a vehicle I like (the LX 570). The price I've been offered is $83200 48 month lease with the Mark Levinson sound system, Lexus Link (both of which I believe are standard in this model), climate control seats, park assist and of course the iPod integration. After spending 3 hours in the dealership and having the finance guy try to work me the offer they came up with is a monthly payment of around $1300. But wait this is after they value my trade-in at about $5K and with me putting down $15K. I don't know what money factor they used, but I'm assuming it is tied to an individual's credit rating and mine is a solid B. I can't help but think that: a) I'm not getting any kind of discount on the MSRP, b) with the amount of money I'm willing to put down I should be getting a much lower monthly payment, and c) I'm being taken for a ride. What advice can you give me on my next steps with the dealer? Thanks.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi dgltj. did you say that the dealer is asking you to put down $15,000 on this lease :surprise: ? That definitely is not a good idea. I always advise consumers not to make large down payments when leasing. Those who make them risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered. If you have money that's burning a hole in your pocket and you really want to lower your truck's monthly payment you should use the cash to make multiple security deposits on the truck that you want. Lexus Financial Services will lower the money factor that they use to calculate your truck's monthly payment by .00010 for each additional deposit that you make, up to a maximum of nine additional deposits. The beauty of MSDs is that unlike capitalized cost reductions which just disappear with you actually get your deposits back at lease end.

    Furthermore, while I am not intimately familiar with what the market is like for the LX 570 right now I would be very surprised if you had to pay full MSRP for one after comparison shopping with a few dealers.

    Try shopping around with a few other dealers and look into making multiple security deposits instead of a large down payment.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • pastakingpastaking Posts: 1
    Does anyone know if lexus is planning to come out with 2010 LX 570 also? And how much more its going to cost with respect to 2009 model?

    Regards,
    Tom
  • nedzelnedzel Posts: 787
    The 2010 LX570 will be little changed, in features and price, from the 2009 LX570.
  • gryangryan Posts: 35
    I am looking at leasing a 2009 that was driven by the sales manager for 5000 miles. The Msrp is 83,000 and they will sell it for $69,000 or lease it for $1100 per month. i believe i lose residual value because it has 5000 miles on it? Should I wait for a 201o
  • Anyone know what the residual and MF are for these current trucks for lease...36mo/15K?
  • Hi ml2005. Unfortunately, the LX is one of the few models that Lexus is not providing lease support on right now. As a result, if you were to lease one through Lexus Financial Services, you would have to use its standard lease program. LFS' current buy rate standard lease money factor is .00245 for consumers who qualify for its "Tier 1+" credit tier.

    LFS' 36 month, 15,000 mile per year residual for the 2010 LX 570 is 51%.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • yjpyjp Posts: 3
    I know it's very hard to find the trucks in the area. What's the best price? Is it possible to get the truck under the invoice price? Let me know.
  • Any news on the 2012 models? When will full production be back? The tsunami really caused havoc with suppliers and production... I've questioned Lexus on Facebook about new features (LED DRL and Heads Up Display - on my RX 350 and love it). Of course, nothing solid back as an answer...
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