[2024] Lexus LM Discounts: What are the Market Prices and Acceptable Limits? Summary of Closing Dates and Negotiation Techniques

We’ve put together a detailed summary of discounts on the base price and key points to consider when purchasing a new Lexus LM . We hope you’ll find it useful when making your purchase . When is the best time to buy? We’ve put together a detailed summary of discounts on the base price and key points to consider when purchasing a new Lexus LM. We hope you’ll find it useful when making your purchase.

How much of a discount is the Lexus LM getting?

We looked up the current discount market price as of May 2024.

The highest discount was 0 yen. I have also purchased from a Lexus dealership, but I was not able to get a discount. The sales person in charge also told me that Lexus dealerships generally do not offer discounts.

If you have come to see this car and are considering purchasing it, rest assured. Lexus stores do not offer discounts, so if you want it, don’t hesitate to buy it.

In fact, even with Toyota cars, it is becoming increasingly difficult to offer discounts on recent models, and this is not limited to Lexus dealerships. For those who have never purchased a car without a discount, this has become a daunting time.

General discounts and tips for making a successful purchase

• Consider purchasing at the end of the fiscal year, or hold negotiations around the end of each month.
• Consider rival models, compare over three models, and even discuss them during negotiations.
• If you have a trade-in car, have it appraised by the dealer first, then have it appraised by at least three other companies, and sell it to the one that offers you the highest price.
• Check whether discounts are available for both the main unit and the options.
• If you purchase through installment or leasing, you may be able to save money on the total price by considering options other than through a dealer.
• At the final stage, make an immediate decision at the desired price.
• Get a quote from a different Lexus dealership

1. Consider purchasing and negotiate during the closing period

Toyota and Lexus have monthly “monthly settlements,” interim “interim” settlements at the end of September in the first half of the fiscal year, and “year-end settlements” at the end of March at the end of the fiscal year. The best times to look are June, September, December, and March, which are the quarterly settlements. Salespeople are also keen to increase sales at these times, so they may be willing to negotiate prices. They’ll be especially keen to work hard at the “year-end settlements” at the end of March!

2. Consider rival models and compare two or more models.

Bringing in a competitor will be a bargaining chip in business negotiations. As a salesperson myself, I understand that bringing in a competitor will force you into a price war. It will also convey to the other party your intention to purchase in the near future, which will give you leverage to lower the price.

Lexus LM competitors

Competing models within the Lexus family are not acceptable. For example, you may be torn between the LM and LX. Be sure to get quotes and consider products in the same class from other manufacturers.

Lexus LM and its competitors Although there are almost no Japanese cars, here are some recommended models.

The following models are just right for the competition in terms of body size and lineup. It may take time, but please try to get quotes from other companies at the dealership. However, what often happens is that when you get quotes from other companies, you find that the other company’s products are discounted or better, so you decide not to buy them. It is also important to know about other companies.

• Toyota Vellfire
• Toyota Alphard

3. Trade-in vehicle appraisal: This is important when it comes to Lexus!

If you currently have a car, think about how to sell it for as much as possible when you sell it. When you get a quote for your Land Cruiser 300, be sure to also ask for a trade-in appraisal. Using the dealer’s appraisal as a base, get quotes from at least four other companies before considering selling it. This is essential.

Reasons and experiences

I have had both good and bad appraisals from dealerships, but of course, it’s necessary to compare with other companies. For example, when I sold a Prius that I had been driving for two and a half years, the appraisal results showed a difference of 640,000 yen.

• Dealer 1.66 million yen if you can pick it up next week
• Company A 2.23 million yen Condition: If you can pick it up next week
• Company B 2.3 million yen Condition: If you can pick it up next week
• Company C: 2.3 million yen.　OK until the next car is delivered.

4. Check whether discounts are available for the main unit and options

For example, the discount amount is often larger if you add the main unit and options than if you only add the main unit and almost no options. The reason is that you can receive a discount on both the main unit and the options. That’s why the above prices list the discount amounts for both the “main unit price” and the “option price.” However, as you add more options, the total cost will naturally increase, so be sure to select and add the equipment you want before getting a discount. Adding everything will naturally increase the price.

5. If you purchase through installment or leasing, you may be able to save money by considering options other than through a dealer.

For example, let’s say the LM500h EXECUTIVE costs 20.5 million yen including expenses. This is a simulation of what would happen if you prepared 17.5 million yen of that and borrowed 3 million yen.

• Borrowing amount: 3 million yen
• No down payment
• Bonus payment 0

If you calculate the difference in interest rates under the above conditions, you will see a huge difference in the total repayment amount. If you borrow 3 million yen for 10 years at 5.5%, you will end up paying an additional 900,000 yen, but if you borrow 3 million yen for 10 years at 2.5%, you will only pay an additional 400,000 yen, a difference of 500,000 yen.

If the interest rate (annual) is 5.5%

If the interest rate (annual) is 2.5%

Car Loan Popularity Ranking

Points to note

Bank car loans are cheap, with strictest screening, followed by dealer-affiliated loans, but with higher interest rates. Other financial institutions tend to offer more lenient screening, with higher interest rates.

6. At the final stage, make an immediate decision at the desired price.

If they don’t offer the discount you want, try to force them by honestly telling them what you want. Add that you’ll sign the contract today if you agree, and if they still can’t offer the discount you want, you’ll just have to accept that this is the best they can do.

7. Get quotes from different Lexus dealerships

The Lexus dealership closest to me is a Toyota affiliate, but there are several other companies. For example, if I were to get a quote from a Chiba Toyota affiliate, the price would probably be different. This happens because they are completely different companies. If I get a quote from the same Chiba Toyopet affiliate, I’ll immediately find out that the other dealership is quoting the same price because they share information. So I recommend trying again at another Toyota dealership with which you have no capital ties.

example

• Lexus Chiba Chuo is Chiba Toyopet
• Lexus Makuhari is Chiba Toyota
• Lexus Funabashi is located at Netz Toyota Chiba

Final words

I looked into the discounts on the new LM as of May 2024. As with the discounts mentioned here, I think that with Lexus in particular, you should enter into negotiations assuming there will be no discounts, and if you have the chance to buy, you should buy it.