Should I buy a new vs. pre-owned Lexus or Toyota? How do I buy a pre-owned Lexus or Toyota?
Many customers are looking to upgrade their vehicle these days. Several recent safety and convenience features make a new Lexus or Toyota very appealing – Parking Assist, Lane Departure, 360o Camera View, LED lighting, etc. However, many of the most popular new models like 4Runner’s, RX350’s, and even ES350’s now exceed $50,000! According to the Wall Street Journal, the average new car loan payment is now over $525 per month – Ouch!
One solution is to consider a pre-owned vehicle. Many features listed above can be found on 2013 and newer models. What does this mean to you? A 3 year old vehicle with less than 30,000 miles may only be 60-70% of the cost of a new car, while a 4-5 year old vehicle with less than 50,000 miles may be less than 50% of the cost of new.
This is where Davenport can help. We offer pre-buy inspections on all Toyota and Lexus models. Our inspections cover front-to-back and top-to-bottom. They include mechanical, electrical, heating and air conditioning, as well as paint and body, and interior. Many times we can pull the service history or the warranty/recall history of a vehicle. The cost of an inspection is approximately $200 and we always tell our clients that this is best $200 you will ever spend. Consider the three possible outcomes when you purchase a pre-buy inspection:
- The inspection report comes back with a clean bill of health and you now have the peace-of-mind knowing your or a loved one are driving a reliable vehicle that will provide years of trouble-free service.
- The inspection report reveals some issues, but overall the vehicle is in good condition. Armed with this information, you can now negotiate from a position of strength – request the seller correct the deficiencies or reduce the price of the vehicle accordingly and have the work performed after the sale.
- The inspection report reveals some critical flaws or deficiencies. In this case, it may be best to walk away and find another vehicle to consider. You have peace-of-mind knowing that you do not own this car.
A pre-buy inspection is also good insurance when buying a 10-15 year old vehicle for that first time driver. Whatever your needs, remember to contact Davenport to help guide you through the decision process.