Discount for a second Toyota/Lexus???

730 Views 7 Replies 7 Participants Last post by cdm2, Apr 20, 2001

cdm2

Discussion Starter · Apr 19, 2001

I remembered briefly that the financial guy at Lexus dealer told me that if I keep my loan for a period over 9 month I think, I can get a discount on my next toyota or lexus..I think is like 700 or 900 dollars????
Anyone knows the actual scoop???? Thanks

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merlin3008

· #2 · Apr 19, 2001

i know that toyota does provide reduced financing rate at times to repeat buyers. perhaps that is what he was referring to. a reduction of a percentage point could result as much as 700 or 900 depending on the borrowed amount.

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Leader

· #3 · Apr 19, 2001

Lexus has a "repeat customer" discount. I'd imagine Toyota does, too.
I know the Lexus policy is if you return to the same dealer for another Lexus (even if you're trading in or up or adding another car), you get an automatic discount off MSRP. I think the amount depends on the value of the car you're buying, but it's substantial...in the hundreds!

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DaHapa

· #4 · Apr 19, 2001

i can't verify the discount off of MSRP. i can verify the more favorable interest (or money rate if you lease) and the waiving of the security deposit.

my folks are on their 4th LS. they have bought the cars from two different dealers (they moved from s. cal to n. cal) and consequently they gotten 50 - 75 bps off the lexus preferred interest rate and have't had to pay the security deposit either. the catch is that you can't take out or refi. the toyota/lexus note for the first 9 months.

my advice is to take a quick look at rates offered by banks and credit unions. often, their rates are better than the rates offered by in house finance and you can easily refi. the car in 9 months (provided you don't modify the ca ca out of it or have an accident) and you can save yourself some pretty good dough over the life of the car.

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mkaufman

· #5 · Apr 19, 2001

I can verify the repeat customer discount.

When we bought my IS from Lexus Carlsbad last Fall it was the second vehicle purchased from them that year - we bought an RX300 in April. They applied an automatic $500 discount, no questions asked. And this is back when IS's were fetching full sticker everywhere.

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Lexus_girl

· #6 · Apr 19, 2001

Lexus offers a Loyalty certificate of $500 for current owners towards the purchase, lease, or finance of a new Lexus...excluding the IS300, LS430, and the SC430. Also, there is a preferred rate for repeat customers thru Lexus Financial Services.

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chiawei

· #7 · Apr 19, 2001

somebody should told me this.

I have already bought 2 lexus and 2 toyotas within 8 year period.

My IS300 and RX300 purchase as only 8 month apart. although from different dealership, i should get additional discount.

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cdm2

Discussion Starter · #8 · Apr 20, 2001

Since I already finaced my IS300. If I were to finance another Toyota corolla 9 month from now(even if I have not paid off my IS300), would I get that 500 dollars discount??? Does the social security number of the person who apply the loan has to be the same for both cars?

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