10 Things To Keep In Mind While Buying A Used Lexus
You’re in the market for a used car and you’ve decided to buy a used Lexus after careful research and consideration. used Lexus cars for sale in Memphis TN.
Congratulations on making a wise choice. Lexus luxury cars are known, not only for being long-lasting and providing value but also as one of the best affordable used cars on the luxury market. It is also the luxury brand of the Toyota Motor Company, which spells quality in its every product. Popular used cars in the Lexus brand are the ES350, the ES300h, the GS350, the GX460, the LS460, the NX200t, the RC350, and the RX350. As they say, well begun is half done! You’re on the right path, but before you commit to buying a used Lexus, read the “10 things to keep in mind when buying a Lexus” below…
1. The Price Tag: Watch out for the 3 terms that will tell you where your used car is being priced. Most car buying sites will provide these to you. If not, go to the Kelley Blue Book website. The 3 terms are Retail Price (this is the price at dealerships and is probably the highest of these 3 values), Trade-In value (this is the lowest price of all 3 values and is what you would get if you were trading this used car for another car with the dealer), and Personal Seller’s price (This is a value that’s somewhere in between the retail price and the trade-in price and is the price at which a non-dealer individual would sell this used car at). Your best bet is to be as close to the Trade-In value as possible.
2. Before you buy, always take a look at the Carfax report and any maintenance records the seller may have on the used Lexus you’re buying to ensure that they are up to date and the car has not been in an accident or been totaled.
3. Inspect the car thoroughly, inside and out. Take a friend with you that knows cars or hire a mechanic for an hour to go with you.
4. Take the car for a spin. Most owners and used car dealer will check your driver’s license and confirm that you have insurance before letting you test drive their car. See how it feels…ask the owner/dealer rep not to talk to you while driving. Hear the sounds of the engine…a good Lexus will hum without any jarring sounds to indicate good health.
5. In some states, dealers may offer a 3-day return policy on used cars, though in Tennessee car dealers are not required to give the grace period. If you do get a grace period, take that time and go over the car with the eyes of a detective. If you didn’t take a friend or mechanic when you bought the car, take the car to a trusted mechanic in this grace period to confirm everything is good.
6. Take a look at the mileage on the vehicle. On average, a decent mileage is about 12,000 to 15,000 miles per year. There will be cars driven lesser or more than that. The lower the mileage, the better it is, but take into consideration how the owner took care of it too.
7. If you’re buying from an individual, it may be a good idea to do a background check on the seller. If you’re buying from a used car dealer, it would be pertinent to check their online reviews. But, be warned…don’t be impressed by all the 5-star reviews and don’t be put off by the 1 or 2-star reviews. Read the reviews and make up your own mind.
8. You can get financing at the dealer or you can go to your bank. You need to keep a close watch on the interest rate and try to stick to your budget of monthly premium charges. Also, pay attention to the duration of the loan. They can go as high as 60 months.
9. Try and negotiate with the dealer for additional deals like oil changes included for a period of time, or scheduled maintenance at a discount. The dealer may have a booklet of coupons for this purpose. Individual owners may not be able to give you any of these benefits, but you could negotiate a better price for defects.
10. Lastly, don’t go by the external look of the used Lexus. Dealers tend to make their cars look beautiful on the outside. As mentioned earlier in this article, get it checked before you buy. And, after you buy the car, you need to take care of it with a monthly maintenance schedule that you stick to…because the resale value will stay high if you do.
Hope this gives you a good idea of what to look out for before you go and buy a Lexus used car. Good luck with your buying experience. Hope you find the best affordable used Lexus in the world. As someone wise once said, “There’s a lot of stress in buying a car, but once you get in the car, all that goes out the window.”