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Discussion Starter #1
Sorry - I know this question is asked to death, but I'm a couple of weeks away from taking the plunge and would appreciate some feedback on the current offer from my dealer on a 2003 IS300:

- 5 speed
- leather/power package (moonroof, power seats, etc.)
- LSD
- 17" alloys
- no NAV, no SportDesign

I'm being offered $27,700, and $30,500 w/TTL.

This is lower than CarsDirect.com. Does this sound like a good price? Do you think that I can drive it lower?

btw, I'm located in N. Calif/SF Bay Area.

Thanks,
 

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Damn dude, I'd jump on that deal. Brand new IS under 28k? It doesn't get much better then that. Carsdirect.com pricing is usually pretty competitive, and if it's lower then that then you're probably getting a pretty good deal...

sfhapa said:
Sorry - I know this question is asked to death, but I'm a couple of weeks away from taking the plunge and would appreciate some feedback on the current offer from my dealer on a 2003 IS300:

- 5 speed
- leather/power package (moonroof, power seats, etc.)
- LSD
- 17" alloys
- no NAV, no SportDesign

I'm being offered $27,700, and $30,500 w/TTL.

This is lower than CarsDirect.com. Does this sound like a good price? Do you think that I can drive it lower?

btw, I'm located in N. Calif/SF Bay Area.

Thanks,
 

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Discussion Starter #3
Thanks for the vote of confidence - the dealer said he's doing this just to meet their quota.

I'm a cheap-ass though, and feel like I haven't pushed my luck, since I got it down this low between one email and one meeting (1.5 hours). We started at MSRP (around $32,500) and quickly went down from there

The guy told me that I can't do 2.9% financing because they aren't making any $$$ on this. I guess I'm wondering what other hidden incentives there are that could drive this one down further.
 

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Financing and pricing of the car should be two different things and one shouldn't have anything to do with the other. Not giving you the 2.9% because of the cost of the car sounds a bit shady to me...

I doubt you get them to go lower on the price...maybe you might convince them to give you stuff for free, but why press your luck? Great car, great price, why ask for anything more?
 
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see if you can get a better rate from a different lender. no one ever says that you have to get financing done through the dealer.
 

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Scientific said:
Financing and pricing of the car should be two different things and one shouldn't have anything to do with the other. Not giving you the 2.9% because of the cost of the car sounds a bit shady to me...

I doubt you get them to go lower on the price...maybe you might convince them to give you stuff for free, but why press your luck? Great car, great price, why ask for anything more?
Not always for special rates and incentives like this. It's like GM offering either 0% financing or cash rebates, but not both. The 2.9 % probably isn't a normal financing rate so it is treated differently. If he went through normal channels, with good credit he could probably find something in the 4-5% range I would imagine, but if you can negotiate a great selling price, you'll probably have to forget about the promotional APR. Find out what strings are attached to the promotional finance rates.
 

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fyi, i got my 5spd $1500 under invoice with the last promotional apr they had at 3.9%. so, yes i think it's possible to get the 2.9% and under invoice, especially when the is300 has a lot of competition right now. i bought the car down in so-cal.
 

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XCstud said:
Scientific said:
Financing and pricing of the car should be two different things and one shouldn't have anything to do with the other. Not giving you the 2.9% because of the cost of the car sounds a bit shady to me...

I doubt you get them to go lower on the price...maybe you might convince them to give you stuff for free, but why press your luck? Great car, great price, why ask for anything more?
Not always for special rates and incentives like this. It's like GM offering either 0% financing or cash rebates, but not both. The 2.9 % probably isn't a normal financing rate so it is treated differently. If he went through normal channels, with good credit he could probably find something in the 4-5% range I would imagine, but if you can negotiate a great selling price, you'll probably have to forget about the promotional APR. Find out what strings are attached to the promotional finance rates.
I understand GM (or any other manufacturer) offering 0% financing or cash rebates, but those have nothing to do with the finale sale price of the car. For the dealer to say: Here's two options...we'll sell you the car at 27k but you'd have to take the 3.9% financing, or we'll sell you the car at 28k and give you the 2.9% financing. That just doesn't sound right. Does anyone get what I’m saying? The price on the car should be set before financing even comes into the picture. Once the price has been agreed upon, then they should run a check on your credit and see what kind of interest rate you qualify for. Again, your interest rate should depend solely on your credit report and not what the price of the car is. Dealers can do and say whatever they want, doesn’t mean you have to fall for it. 8)
 

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Discussion Starter #9
I've found outside financing 3.24% through Costco/PeopleFirst, but will give the dealer a final shot if they want to carry my loan.

So, I'm looking for some concensus here... beyond just myself and Scientific - Any other opinions on the price offered to me? Do I have room to drive it much lower?

Thanks!
 

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Lexus is offering the 2.9% to get rid of their 2003 fleet. If you take that offering, the dealership automatically will get $1000 from Lexus. If you choose to find an outside lender, you can use that $1000 to talk them down even lower. Its one or the other; not both.

You're price is pretty good for being in the SF area. Unfortunately, it seems like you haven't tried other dealerships yet. There are plenty of 5spd full leather in LA, so it doesn't hurt to call around and see if another dealership can beat their price + shipping (or if you want to pick it up = free).
 
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