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Discussion Starter · #1 ·
Hey Guys and Gals and IS 300 Enthusiasts,

I love the IS 300. I've been hoping to buy one for the last six months. Being just a recent college grad though, I've had to set my sights a little lower. I'm seriously considering purchasing a CPO 2001 Lexus IS 300 in the Cinnabar color (rather unique and cool).

It has 37,700 miles. Is an automatic with E-Shift; leather trim with escaine interior, moonroof and so on. Does not have a rear spoiler. It's in great condition though. The car is featured in my nearest Lexus dealer's showroom right as you walk in - either they really want to get rid of it or it is somewhat of a pride to show what good condition the car is in. I've checked out the exterior - just one small paint chip on the front-right pillar. The grille looks perfect; it has brand new tires and what look to be brand new 17" 5 Spoke rims (glossed graphite model). The interior seems fine as well - just a couple of stretch marks on the driver seat's leather trim.

I have talked the dealer down to $23,900 (and perhaps even less). Of course this includes the 3 Year/100,000 Total Mileage Warranty that comes with every CPO Lexus.

When thinking about it - I might be able to get a new Mazda 6s or Mini Cooper S, or maybe even a TSX - but I really enjoy the Lexus quality and how they take care of their customers. My dad bought an ES 300 from the same dealership a few years ago and they almost immediately recognized him and offered us a lower price on the 2001 IS 300.

What do you guys think?

Worth it?

Not worth it?

Thanks so much - look forward to everyone's responses.
 

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I think it is a bit overpriced.
22K should be the right price.
Keep in mind, the brand new 2003 models sold around 30K.

BTW, what color is it??? :-? Cinnabar??? :-?
Did you mean Auburn Sky?
 

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Discussion Starter · #5 ·
Interesting, so you think we should talk them down even lower? What sort of facts/information should we use to do so?

When asking about the current 2004 IS 300s, the salesman said they were going for $33K. Does that sound a bit high too?

This is, of course, the end of the year - they probably really want to get rid of this 2001.

I want to get this baby as low as possible in price.


And yes, it's the Auburn Sky color - which I believe has been discontinued. It has an interesting orange tint - I like it.
 

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Yes, Auburn sky was only available in 2001.
Talk them down to 22K.
IS300 is not the best selling Lexus model. It only sold for MSRP when it was released. Fully loaded 2001 model was $34,400.
2003 IS300 Manual I purchased for $30,600. Some have gotten their e-shifts for even less. The 2001 one I had, I traded in for $18,000 (56K miles, all options, some minor damage).
 

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That color was not popular at all, talk them down to $22k. You could get one privately for $20k - though if you like that color it might be tough to find. Keep in mind the bumper to bumper is almost up - you are not saving yourself any money over a new car.
 

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i doubt you could get a CPO for 22k, but i would think you ought to be able to get them down to about 23k. I love my IS and I think the auburn sky is a great color. I'm prefererential to my manual transmission and there were a few nice little upgrades between the 01 and 02 models, but it is still a great car regardless. The 100k total mile warranty is also really nice.
 

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Discussion Starter · #10 ·
Thanks for the replies.

ckolsen, you say the "bumper to bumper" warranty is almost up? Why do you say that? The CPO includes an almost-full warranty up to 100,000 miles or 3 years.

I did the Edmunds report on the 2001 IS 300. The dealer retail is indeed in the $22K to $23K range, however, as a "certified" vehicle it is listed as $24, 131. I'd be afraid to show the salesman that report!
 

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The dealer probably has about $20,000 in the car. Add on the CPO and he's still ok at $22,000

Trade-in $20,240 (wholesale)

TMV $22,199 (Private party)

Retail $24,183 (dealer asking price)

These prices could vary +- $1000 depending on your area.
 

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Tell them that CPO is of no concern to you - it is a Lexus.
1K can be better put off for some major repair, should one occur.
 

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Discussion Starter · #13 ·
$22,000 it is - I will shoot for this price. Wish me luck.

Thanks, doods. I hope to be a fellow IS300 owner by tonight or tomorrow.
 

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Good Luck! 8)
Bring back good news! :D
 

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Each Certified Pre-Owned Lexus must pass a grueling 128-point inspection checklist, and is supported by a Lexus-backed 3-year/100,000-total-vehicle-mile limited warranty [2] that begins the day you drive it off the lot -- not on its original purchase date. So for the same price you may pay for a run-of-the-mill new car, you could be driving a Certified Pre-Owned Lexus and enjoying the security of a Lexus.
http://www.lexus.com/cpo/benefits/index.html#disc2

The CPO is a complete vehicle warranty.
 

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Discussion Starter · #16 ·
Yep, the CPO is a pretty good deal in my opinion - far better than other certified pre-owned warranties.

I'm putting together some ideas/comments for why I do not think 22K is a stretch for this vehicle...

They have mentioned it being December and end of the month/year for Lexus. Could I even push their price lower? :) I figure it can't hurt?
 

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Neolicious, I don't know the specifics about Lexus, but typically pre-owned warranties only cover stuff like drivetrain, engine, maybe suspension - a lot of stuff which goes bad on a car is not covered. A car with 35k miles will also need tires, brakes, belts, major service etc - which is like $1500 or more you should factor in.

Edmunds prices are usually not accurate for recent cars - look at a 2002 and it will probably say retail is $29k, when in fact it's like $25k. An easy way to check is to find people who've trade in 2001s and ask what they got for it. I'd say around $19k to $20k for this car, less cause it's an unpopular color. No reason to pay $23k to $24k for an '01, when '02s are about the same, and new '04s are like $29k or less. Just make him an offer of like $22k or $21,500, take it or leave it.
 

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"Limited" = complete?

is300sam2002 said:
Each Certified Pre-Owned Lexus must pass a grueling 128-point inspection checklist, and is supported by a Lexus-backed 3-year/100,000-total-vehicle-mile limited warranty [2] that begins the day you drive it off the lot -- not on its original purchase date. So for the same price you may pay for a run-of-the-mill new car, you could be driving a Certified Pre-Owned Lexus and enjoying the security of a Lexus.
http://www.lexus.com/cpo/benefits/index.html#disc2

The CPO is a complete vehicle warranty.
 

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CPO?

personally Have you thought about just purchasing a new Is300? you'll have a car that hasn't been touched by anyone :D

u should really consider the 5spd, trust me you won't regret it later especially when you start to mod that baby.

plus with a new car you should have very few in any probs and i bet if you shopped around you could possibly get one for slightly under $30,000 (29ish)

well good luck
 

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^^^^
You forgot to mention promo financing rate (probably because it is N/A in HI)
 
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