There’s no overlooking the steep cost of some brand-new Lexus models. If you want to save money, it’s a good idea to shop the pre-owned market. Here are a few important tips for buying a used Lexus.
Arrange an Inspection
Before you fork out thousands of dollars on a used Lexus, be sure to first have it professionally inspected by a certified mechanic. Although Lexus is known for building extremely reliable luxury vehicles, undetected issues can cause you a lot of trouble in the long run.
High-mileage models are especially susceptible to experiencing oil leaks. You also must watch out for rust and corrosion, which can weaken the car’s structural integrity. Not only can an experienced mechanic uncover these issues, but they can also determine which parts will likely need to be replaced in the near future.
When checking out the vehicle, a mechanic can use a diagnostic tool to find out if the vehicle's has any trouble codes. Although the check engine light may not be on, this doesn’t mean there isn’t an issue. It’s easy for car owners to temporarily reset the check engine light by disconnecting the battery.
Find a Good, Honest Seller
Be extra-vigilant when shopping for a used Lexus. While private sellers tend to have lower prices, use caution. If you do decide to purchase a vehicle from a private seller, make sure the owner can provide an extensive record of the car’s service history. This will give you a good feel as to how well the car was maintained.
You also have the option of buying from a dealership. Although certified used Lexus vehicles may carry a more expensive price tag, they are worth the extra money. These vehicles come with a factory warranty and must meet strict quality standards.
Consider Additional Ownership Costs
Far too many people tend to focus solely on a car’s price. You also need to factor in the vehicle’s total cost of ownership, which can vary from one Lexus model to the next.
Fuel economy is one of the most important factors. Don’t just rely on the EPA’s fuel economy rating. It’s also a good idea to find out the car’s real-world fuel economy. Many drivers are more than happy to share this information on various Lexus forums. Furthermore, they can warn you of any common problems in advance. Also, call your car insurance provider to get a quote ahead of time.
Research the Vehicle’s Average Market Price
It’s no secret that used car prices have increased over the past year. Nevertheless, you should always research the model’s market value when shopping for a used Lexus. Kelley Blue Book and Edmunds are great websites to reference.
If the car has a marked-up price, first try to negotiate a lower price. Be prepared to walk away from a seller who’s asking for entirely too much money. Although you may need to travel a tad further away to get a better deal, you’ll end up saving more cash.