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Comments
Thanx for help.
Here are my questions...
1) Does CarsDirect really work... they are showing a $3k difference between northern and southern Ca. Are there really RXs available through them and are there any hidden fees or will I find dealers unwilling to honor their quote?
2) Is the CarsDirect $3K discount the best deal or are there dealerships where I can negotiate a better deal?
3) Do you recommend any specific dealerships in the LA area that you recommend? Is the best way to contact them through the internet?
4) Is it worth waiting until Dec and getting an '08. Obviously they will not be discounted as heavily as the 07s.
I have also come to the conclusion after talking to some local dealerships that I will not get even close to KBB trade-in value on a trade so I will have to sell it privately before proceeding.
regards,
SloopG
I was sick with the flu, my RX300 lease was up and the bank wouldn't extend it even 1 day (US Bank - never use them), so David drove the car over here personall (which is about 30 miles) and dropped it off for me, then took back my RX300.
The vehicle is an AWD, Flint Mica with Gray interior, Mark Levinson with NAV, Premium Plus, heated seats, pretty much everything but the laser cruise control, DVD rear entertainment system, and for some reason no cargo net. MSRP was $51,346. I don't have the cap cost handy but I think it was about $3K off MSRP.
Lease was 48 months, 12K miles, $598+tax = $648 per month with $2,500 total drive-off (first, license, and cap reduction).
They're huge, which somewhat makes you feel like you're walking into a Wall-Mart or something, but that also means they get and can give great deals. I'd definitely recommend Longo - and call David in their Internet department.
Jack
good luck
sloopG
Thanks!
Is this accurate or is this a standard ploy to get me to buy now rather than wait for a couple of months?
Keep in mind you will have to get a fair amount MORE from a private buyer to make up for what you would save in taxes with a trade-in. When you trade in a vehicle, you only pay taxes on the amount after your trade in price is deducted. Not on the entire negotiated purchase price of the new vehicle. Basically, if your trade in is worth $20,000 and you live in an area of 9% taxes, you'll have to pay an extra $1,800 in taxes if you don't trade in your vehicle. You'll have to get an extra $1,800 from a private buyer just to break even (not including your time, advertising fees, liability, etc.)
Granted the total value of your current car, your locations taxes, etc. will effect this, so it might be worth it, but this is one more part of the total equation to consider. Another factor is the market for your particular used car in your area. In many areas, you won't get anywhere near KBB when selling a used vehicle because there have been such good deals on new for the last few years, the used market is flooded with inventory. Of course, the opposite could be true if your particular vehicle is not as common and in demand.
This may vary by state. It is not true in California:
" 9. Are trade-ins taxable?
Yes. The value of a trade-in is considered taxable. For example, if you sold a car for $20,000 and accepted a trade-in valued at $4,000 as partial payment, tax would be based on the $20,000 selling price (that is, you would not deduct the value of the trade-in from the sales price of the car being sold when computing sales tax)."
CA Sales Tax Rules
When we leased our car in NY the full tax payment (8.375%) was added to the capitalized cost of the vehicle. When we moved to Florida, Lexus then took the monthly payment and added the FL sales tax even though we'd been in NY with the car for more than 6 months. Since Florida charges tax monthly as opposed to upfront, our monthly lease payment went up by $42.
Last month, I sent a letter with copies of our lease agreement, proof of residency in FL to the NY Dept. of Taxation and Finance asking for a rebate of $1,573.23 from the full tax paid of $1,826.98. This represents the amount of time left on the lease that we won't be registered in the State of New York. Today, they denied my rebate claim. However, upon moving to Florida, Lexus told me to contact NY state for a refund of the taxes paid at origination.
Help, I'm now paying double tax on a car and this doesn't seem fair. I brought the car into FL after 6 months, which is the minimum time for paying tax on a purchase/lease. How should I proceed?
Thanks,
Ethan
FYI, the reply from the State of NY specifically stated that "there is no provision in the NY State sales and use tax law to allow for a refund of sales tax paid on the lease of a vehicle where the lessee relocates to another state where they may also be required to pay tax."
Unfair, but nothing you can do.
regards,
kyfdx
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Thanks
John
You should try the same strategy in Florida.
Good Luck.
I just bought a 2007 400h with 2500 miles on it. The miles are from Lexus executives driving the vehicle at the US open this year. I bought the car for 42000$ (invoice was 46775$). Does this sound like a good buy to you all?
Nik
I have a connection with someone who works in the corporate marketing department, but we're not very close, and before I go out on a limb and ask them to help me with an employee buy, I'd like to know how good a deal they get. I know my local distributor offers their staff $1,500 over 'landed cost', which isn't a great deal or anything a hard negotiator couldn't swing themselves. I'd hope the HQ employees get something better.
U.S. Toyota manufacturing headquarters is nearby... One of their engineers lives in my neighborhood, but I think they've only bought one new Toyota in the last 10 years.. Either they are frugal (likely), or the employee deal is not that impressive.
I'm not sure how a "not very close" acquaintance would be able to help you, though? I don't think a Toyota employee would risk his job to get a car for someone that wasn't eligible, otherwise.
regards,
kyfdx
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I had another friend from a few years back who worked at the HQ in Long Beach, but I can't remember the details of his deal. I do remember it was one per year, but he used his allotment and couldn't do anything for me.
It's the details I'm after - something like x% under invoice, I would jump at - but something like x% or x$ over invoice, it's probably not worth it.
This is our first time leasing a vehichle as we want to see what other types of new hybrids come out in the next few years.
Any advice is greatly appreciated. Thank you.
In your case Miranda, you're probably paying a bit of a premium for the short term, but I'm sure others with more experience know more than I.
MSRP 48695
Price 44900
36 months
12,000 miles
Inceptions 1672
696 monthly plus tax
residual if 51%
money factor is .00200
Any help would be greatly appreciated. Would like to be driving a new car by week end.
Sweet car in a sweet color. The wife is very happy.
I was interested in the RX400h and began emailing a few dealers in my area and looked to see what their first offers would be. Within 15 minutes of emailing the 3 dealers, I got emails from all 3 of them. 2 of them stated that they would call me to talk about the price but the other just got to the point and told me their 1st offer, $43900 on an MSRP a shade above 50 grand (nav, premium plus, heated seats, wood trim, etc). I was actually pretty surprised by this since this is their 1st offer and its already at invoice. How much more haggle room do you think I have (paying with cash)? And is the market for cars this bad that a Lexus dealer is willing go invoice and below for a hybrid? I wasnt looking to purchase so soon, but depending how this works out, I may buy before the month is out.
Thanks
A few of those options I didn't really want (e.g. heated seats), but that seems to be the way they all come these days. Compared to the other quotes I'd received, I ended up getting the Levinson (others didn't have it) and still paying less for the vehicle.
Can you please also email me the name and some more info ? Thanks in advance .
Has anyone heard anything more about the re-designed 2010 RX? Does anyone have any other thoughts or insights as to the logic of this approach? Thanks!
Here is a little info.