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Lexus LS 460 Prices Paid and Buying Experience

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Comments

  • 2008 LS460 SWB (Silver/Grey) with following options:
    -Comfort Pkg.
    -Intuitive Park Assist
    -Power Trunk/Door Closer
    -Navigation
    -Lexus Link
    -Preferred Acc.Pkg.

    MSRP: $68,705.00

    Selling Price: $63,855.00

    ~$5k off/~$3500 over invoice.

    Car will be here in 2 weeks... can't wait!!!
  • Ocautoseeker, that is a very good deal, considering it is a 2008. Houston dealers would not discount that much on a new car. Congratulations and enjoy your ride.
  • Can someone advise me on prices for a 2007 LS in the New York metro to Princeton, NJ area - I have a price quote of around $ 7K below MSRP (around 72). Appreciate feedback on purchase/lease experiences.

    Thanks.
  • $7k off an '07 is a good price. If you pay cash or finance, go for it! If leasing, pop for an '08, cuz residual will be much better. Lease rates should be good in December for Lexus' annual holiday event.

    Expect between $4500-$5500 off an '08 in your market.

    Good Luck!
  • Thanks ocautoseeker - trying to push the deal a little further - low volume dealer in a remote part of the tri-state area - trying to see if I can get below invoice by about $ 2K. Shall keep you posted - thanks.
  • I never say never, but it's doubtful that you'll be able to purchase an LS under invoice. In fact, at $7k off MSRP, you're still ~$1500 over invoice. Which, by the way, is a smokin' deal on an LS.

    Lexus dealers will blow out ES's, IS's, and RX's all day long for $500 over. The LS, unfortunately is NOT a $500 over car. I'd say that you might be able to knock another $500 off, but much more than that might be a big stretch. But, if you're up for the grind, I say go for it!

    Good luck and please report back on your final price. It's always helpful to see what other's are able to negotiate.

    BTW... what options does your car have on it?
  • Sorry ocautoseeker for this belated reply - we put our car buying in temporary stall - got a quote of 65.5 for a 2007 with MSRp of 72+ and has self-parking / ML-NAV / Comfort package and a few other smaller options. Not interested in self-parking - Negotiating similar or better discount at another dealer who has above car without self-parking. Getting distracted by low mileage pre-owned 2006 with ultra luxury available in mid-40s - confused!!!
  • Best of luck to you in your decision making. Either way, they're both great cars. Many LS enthusiasts believe that the '06 model was the best LS ever built.

    On another note...

    Dealer sold an LS out from under me after I had given them a deposit and negotiated a price of ~$5k off MSRP. They claimed it was a mistake. Whatever! Took biz elsewhere while they were still scrambling to figure out what happened. Got lucky and found another one a few miles up the road and actually negotiated an even better deal. $6k total off an '08... very happy!

    I did make sure that the deposit amount was not charged to my CC since the original dealer did not deliver as promised.

    Love the car!
  • holewholew Posts: 71
    I doubt if you will be able to get an LS460 below dealer invoice, but then why not try. I purchased a new 2002 LS430 in Nov2001. I thought I got a good deal but later discovered I paid about $1000 too much. Back then the mark up from INVOICE price was $8000. So I offered to split the $8000 and told the salesman I would pay them $4000 above dealer invoice. I guess he must have wet his pants. He jumped up from the desk and ran to get the manager. The manager tried to get another $500 out of me but after 20 minutes of this BS stuff he aid OK. Later I found out that other dealers in the area were discounting that same car $5000 off of invoice.

    So now I just start offering them some way low price of perhaps one thousand below invoice. I shop in an area where there are three or more dealers. My 2002 LS430 was purchased from Silver Spring Lexus in Maryland which is a suburb of Washington, DC. There are 6 Lexus dealers in and around Washington in Maryland and Virginia.

    If I ever buy another Lexus product I will shop more intensively and aggressively. On an LS460 I would never pay more then $1500 over invoice and then that would be after trying very hard to get the car at invoice. The bottom line is HOW HUNGRY IS THE DEALER. If the economy is sick, even business at lux car dealers will decline. So wait the dealer out and try some of the INTERNET pricing services. They are for real and you will get pricing calls from several dealers which will save you a lot of time and perhaps BS.
  • Obviously, certain markets demand different pricing, but here in SoCal, $3k over is a steal on an LS460 (swb). Most internet/fleet departments have been quoting anywhere from $3500-$5500 over.

    There's about $8400 in front-end gross profit on these cars, but most dealers won't let them go for any less than $2k over, if they even go that low. Best deal I have been able to negotiate thus far was $2500 over.
  • Why does Lexus NOT advertise their incentives to the customers. The dealer will not tell the customers all the incentives that are being offered for the December to remember event. Does any one know what the incentives are. I have a 800+ credit rating.
  • Are you looking to lease? Unlike apr's (on a purchase) which are required by law to be disclosed, money factors, on the other hand, do NOT.

    If you're looking at an '08 LS (SWB), the buy rate money factor is .00230 (at least in SoCal, but that should be a national rate). The residual on a 36/12k/yr lease is 55%, for 36/15k/yr, the residual drops to 53%. On a 48/12k/yr lease, residual is 45%, for a 48/15k/yr, the residual is 43%. These numbers should stay like this until the special ends on Jan 2.

    My advice... call and ask to speak to a finance manager since he's the one with the numbers. Tell him/her that you're thinking about leasing a few different vehicles and you'd like to know the current residual(s) and buy rate money factors. He/she should have no problem giving you these numbers if they know you're shopping around. If they won't, they're stupid... but, just call another dealer.

    Good Luck!
  • Does anyone know the finance rates to purchase a Lexus LS 460(not lease)
  • 5.59% apr for 60 mo. on Base and L models.

    Rate offered through Lexus Financial Services.
  • traubetraube Posts: 28
    i live in ny.was just in florida and am able to buy LS460-new for 8600 below MSRP.Called my dealer in ny and said 2007 were not available.I really dont need the car until april 2008 and my ny dealer said i could probably get the 2008 for $4000 below MSRP.
    NEED ADVICE-is this a deal i should not pass up-how is the lexus selling-i saw alot of 2007s sitting around in florida.I am paying cash for the car.
  • I don't think there's any need to jump on it right this second. I got almost $7k off the MSRP on an 2008 before the dealer even got their first one. You should be able to easily get up to $5k off still in April. Personally, I would try to get $7k off and go in there every end of the month until they bite. Eventually they will give in if you have the time to waste.
  • fabt1fabt1 Posts: 5
    I'd be skeptical of a 2007. Remember, a meaningful number of '07 owners have complained about wind noise; the '08's have better door insulation and laminated glass on the front windows. Also, the nav. screen on the '08's do not require you to hit the "I agree" button before it operates. I just bought an '08 a few days ago, also in Florida; it seems good deals can be had on them. And I test drove it before I bought, to ensure no wind noise - it was noiseless.

    If you really think you're better off with the '07, make sure you take it on a test drive at highway speeds to ensure there is no wind leak noise.
  • traubetraube Posts: 28
    may i ask you how much below MSRP you paid?what part of florida.This info is very helpful and i will probably wait and buy the 2008
    thanx again!
  • fabt1fabt1 Posts: 5
    I bought mine from Palm Beach Lexus (south Florida). We got a very good deal because my wife got the Employee Discount Program as she is an employee of AutoNation, who owns the dealership.

    The price we paid was about the "invoice" price that you see posted on sites like Edmunds. However, this was the Employee Discount price; when I compared to other south Florida dealers (JM, Pembroke Pines, Kendall, etc.) this price was about $5,000 less than what their best quote was. None were willing to match it. Although, after I bought the car, all the other dealers called me back looking to make a better deal. I don't know if they would have come all the way down to what I paid, but they certainly were looking to deal.

    Dealers seem particularly 'desperate' in December, as they all want to finish the year strong so they can secure a high allocation of cars in 2008. Whatever you negotiate, try to do it in December.
  • If it's $8600 off MSRP on a base LS model with no additional add-on's like chrome rims etc., I'd say jump on it, given it's brand new and not a demo.

    There's about $8500 in front end profit on that vehicle, so at $8600 off, they're selling below invoice. If you're paying cash and plan on keeping it for awhile, take the savings on the '07. You can get a good deal on an '08, but no dealer in their right mind would sell that car for much below $1500 over invoice. In SoCal, $2500-$3500 over invoice is agressive to very agressive pricing already.

    Two things to watch for:

    1) Don't let the dealer know you're paying cash until you're ready to sign the paperwork. It's been said before, but I'll repeat... Cash is NOT king in the car buying world!

    2) Be aware of some of the funky South East region fees.
  • traubetraube Posts: 28
    thank you very much
  • Was an absolutely tough challenge to knock the dealerships down to where I felt comfortable for the lease.

    I dealt with atleast 10 dealerships. Most came to the following deal for the 71 package LS, 12k miles, 4 years, around 1000 including tax. I felt I could get better (that's basically a 6500 discount off of their so called rare package, with the before mentioned 2500 profit for them). Inventories are down so getting your color may be a bit difficult. Now Decemeber to Remember might be a bunch of hogwash, however one thing isn't. The end of the year as in the calendar year, also means quite a bit to dealerships as the end of the model year does. Also on cars like these that rarely have cash back offers, this might be the best time of the year to buy because residuals will be higher (besides leasing and then buying at the end versus buying outright if you calculate it with opportunity costs blah blah, actually favor leases but that's another story). Anyway back to my case.

    After haggling with one dealerships who refused to come down and made me try to feel guilty while doing it, I received a call from two previous dealers who did not have the color combo I wanted at 71 but had it at 74. One of them included their chrome dipped wheels (you can tell I went for Black exterior as those are the cars that actually look good with the chrome wheels, still iffy if I should have got them but what's done is done). One of them made it seem as if it was a travesty I had ever visited their dealership since I was playing games with them and I was shopping around. The other gave me an offer closer and was closer to home.

    I went back home, negotiated a little bit finally ended it all with a barely over 9k discount on the 74k with chrome dipped wheels. It all rounded out to about:

    1k per month including tax, almost nothing down at all

    Reason is he wanted to push his inventory out the door. To say the least he was not happy about doing it, but that's how life is I suppose. He still made I'm guessing a 500-1000 profit, since interestingly enough his money factor was lower than the others. He probably parlayed a couple dollars into doing so. I was a bit suspect of it but it's done can't do much about it. Probably had to do so to show some margin on the car on the books.

    Anyway, so far I'm happy and just waiting for chrome....
  • what is the par best interest rate you can get from lexus financial?
  • I got 5.59% for 60 months 100% financing (ie. no down payment, including tax and license) through Lexus Financial Services. Somewhere else on this board it said that 5.59 is the best they are doing, and it may only be through the end of the December to Remember sale (1/4/08 I believe).
  • ekndyekndy Posts: 3
    I'm undecided about purchasing or leasing. Has anyone been able to negotiate what you think is a fair deal in Central Florida? Thank you for any feedback.
  • Looking to purchase an LS 460 in south Florida. The MSRP with options is $64,950 including $765 for destination charges. Invoice, per Edmunds, is $56,453. The only options are the comfort package, park assist, and power door closer.

    What could I expect to pay for this vehicle, excluding sales tax?

    Willing to purchase in Georgia to get a better deal.

    Thanks for your input.
  • traubetraube Posts: 28
    a good price would be between 56500=57500 for a 2007.please keep me posted because i will probably by a 2008 LS in about 2 months
  • Go to Lexus.com and punch in your zip code, then build your vehicle. That will give you a more realistic view of how dealers in your area are taking delivery of them. Your MSRP of $64,950 looks way too low, as Edmunds will let you buld the car however you want, but it's not always how your region has them shipped from the manufacturer. A more realistic base LS would list closer to $69k.

    There's a spread of around $8400 between MSRP and invoice. Shoot as low as you can obviously, but know that anywhere from $2k-$3k over is a great deal on one of these beauties!
  • hi there,

    i am shopping for a LS460 SWB. I wanted to get on in Dec b/c the MF was lower than normal, but they didnt have the car i wanted avail. Now, being Jan, they have the car but the MF is much higher. Im hoping that Feb rates will be lower than Jan. Can anyone confirm what the MSD reduction is? I know it isnt .0001 anymore.

    Thanks.

    lisalisa
  • Hi lisalisa,

    What is MF, and what is MSD (I know what SWB is)?
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