Moderator: Welcome to our chat this evening with

Marv Ingram, Lexus Certified Pre-Owned Fleet Manager.

Marv Ingram: Good evening and thank you for joining me tonight - and thanks to Edmunds for arranging this chat. As a disclaimer, there are no canned responses. If I don't know how to answer something I'll tell you straight up - fair enough? So, for those of you who are shopping or are thinking about shopping grab your favorite beverage (I can't because I'm still at work) and loosen up your typing fingers and let's get started.

Canoer asks: What's the difference with certified Lexus vs. getting a regular used car?

Marv Ingram: The big difference is "Peace of Mind" knowing a Lexus Certified vehicle has been inspected and re-conditioned by a Lexus trained technician. After passing this inspection process, it's covered by a manufactures warranty. Plus you get benefits like a loaner car, roadside assistance and trip interruption service. In addition your first CPO service is complimentary, you get reduced finance rates the same as new cars and you get to drive around knowing your vehicle is backed by Lexus.

Stever asks: Can I buy my co-worker's old RX 300 and get the dealer to certify it?

Marv Ingram: Absolutely not. Lexus dealers choose the best of the off-lease and trade-in's before we begin the certification process. The remainder of these vehicles are generally sold at auction and wholesalers. Individuals can not bring vehicles to our dealerships for certification, we have to select them and of course, the vehicles have to qualify for the program.

bob asks: How can I locate a 2-yr old IS300 that's certified?

Marv Ingram: We have all of our Lexus CPO vehicles displayed on pretty much every web site - such as Edmunds.com, AutoTrader.com, Cars.com and about 200 additional sites... OR you can just go to http://www.lexuscpo.com and enter in the vehicle search.

rik4 asks: Are there any low interest financing on certified?

Marv Ingram: Yes! Starting May 1 until July 5, 2006 you can finance any certified pre-own for 3.9% for up to 36 mo., 4.9% for up to 48mo. and 5.9% for up to 66mo at any Lexus dealer.

WaxOn_WaxOff asks: Can you lease a certified car? Are there leasing programs?

Marv Ingram: Yes - in fact there are. Along with our APR programs that we just announced we also have special rent charge factors so check with your Lexus dealer.

KLH asks: What if it's certified and then I have a problem with it? Is the dealership obligated to fix problems?

Marv Ingram: Once it is certified and it is a warranty issue you can take it into any Lexus dealership across the country and get it repaired.

Canoer asks: Ok, I like the loaner ... what happens to the warranty with a CPO Lexus?

Marv Ingram: Each CPO comes with a 3year/100,000 total vehicle mile that starts on the day of the pre-owned purchase.

rik4 asks: Is there a per occurrence deductible on the warranty

Marv Ingram: No, there is no deductible

Candy627 asks: What's a rent charge program?

Marv Ingram: You probably mean "rent charge factor" The rent charge factor is actually the money cost on leases.

Fastdrivin asks: Do you think I can I get a better finance rate on a CPO vehicle from my bank?

Marv Ingram: No, Our finance company, Lexus Finance Services, gives us low finance options because the certification process removes the risk typically associated w/ buying a pre-owned vehicle.

Karens asks: How much more on average will a CPO vehicle cost me than a non-certified vehicle?

Marv Ingram: Pricing varies by geographical area so that's a hard one to answer.

Rrrichard asks: This is a nationwide program? I can be sure to find CPO vehicles at my local dealer?

Marv Ingram: Yes, it is a national program. To make sure all Lexus CPO vehicles are the same in New York as they are in Los Angeles or any other city, Lexus has a third party inspection company visit all our dealers and conduct quality inspections to verify they all meet Lexus standards.

rik4 asks: Does lemon law apply to certified used cars at all?

Marv Ingram: Lemon law vehicles would not qualify for certification.

Gypsy asks: Who actually decides whether the car is certified or not?

Marv Ingram: The dealer decides which vehicles can be certified after they go through the inspection process and if it passes then it is certified. If it goes through the inspection process and fails then it is rejected by the dealer.

Regail asks: So it's really Lexus through this 3rd party inspection company and not the dealer that does the certification?

Marv Ingram: No – our individual dealerships certify each and every vehicle. To clarify, this third party inspection company completes "quality" inspections on vehicles certified by our dealers. Let me know if I haven't made this point clear.

rik4 asks: Sorry you misunderstood my question. If I buy a CPO car it turns out be a lemon living at the dealership do I have any recourse?

Marv Ingram: If you have concerns about your certified vehicle - and I'm not sure what your concerns are - you should discuss them with the dealer you purchased the vehicle from.

Lexus_guy asks: What does the 3 year warranty cover?

Marv Ingram: 3 year/100,000 total vehicle mile warranty is a limited bumper-to-bumper. If you go to http://www.lexuscpo.com you can see exactly what is covered and compare a Lexus CPO warranty and a new Lexus warranty.

Is250rules asks: Kind of an insider question, but will a CPO vehicle I buy in, say NY, come from NY? Or will you move them around the country as needed?

Marv Ingram: Lexus doesn't move certified inventory. The vehicles selected to be certified are selected by the dealer. My guess is most of the CPO inventory will come from the dealers geographical area through lease maturities and through trade-in's.

Gypsy asks: What about servicing? Can I take it to any dealership no matter where and still get service?

Marv Ingram: That's the good part about a Lexus CPO vehicle; you can have it serviced at any Lexus dealer throughout the US.

Guest asks: What's the benefit of getting a certified car instead of an extended warranty?

Marv Ingram: By extended warranty I'm assuming you are talking about a vehicle service agreement. A warranty is protection that goes with the vehicle and is backed by the manufacturer. A vehicle service agreement is backed by an insurance company. Some vehicle service agreements only honor certain claims in certain areas where a warranty will be honored by the manufacturer at all it franchised dealerships.

Ak_1 asks: I've read that dealers have to do a bunch of stuff to certify a vehicle how do I know that the dealer actually did the work required by Lexus?

Marv Ingram: Great question! Every certified pre-owned vehicle will have an inspection worksheet completed by their service department. Prior to purchasing the vehicle, I would suggest you look at that worksheet and note items that needed repair or replacement. Ask the sales consultant to show you each of the repair orders. That way you are assured the certication has been completed.

Texlexus asks: What's the most common item reconditioned for a certified pre-owned Lexus?

Marv Ingram: Most vehicles will need the brakes and tires are replaced. Also scratches and body dings will be removed or repaired.

Guest asks: How old of a Lexus can I buy that's been certified?

Marv Ingram: Vehicles eligible are current series used plus 5 model years with less than 60,000 miles.

1_lexus asks: Do Lexus staff get to pick the good cars?

Marv Ingram: No, these vehicles are for you, the consumer

rik4 asks: Since my Lexus dealer is around 40 miles away and my Toyota dealer is only 10 miles away can I get normal service done there and still maintain the warranty

Marv Ingram: Warranty work must be completed at Lexus dealer. To address the normal service, my recommendation is to have all service done at a Lexus dealer since it will be recorded on our National Vehicle Service history. That way you don't have to keep service records, we keep them for you. Also, by having your service done at a Lexus dealership by a trained Lexus technician they will be able to pickup any additional service that needs to be done to your vehicle.

rik4 asks: Since the Lexus is 4yr/ 50,000 mile warranty, if I buy a one year old one will the warranty be only the remainder of 4yr/50,000 mile or will the CPO add another 3 yrs to the remaining 3 yrs in effect already on the car?

Marv Ingram: The new Lexus warranty is a 4year 50,000 mile bumper-to-bumper and a 6 year 70,000 powertrain. If you were to buy a 5year old Lexus with 50,000 miles, your warranty would be 3 years from the date you purchased it or up to 100,000 total vehicle miles. So regardless of the remaining new car warranty, whatever mileage is on the CPO vehicle you purchase, you have 3 years from the date you purchased it and or until the vehicle has 100,000 total vehicle miles.

Beemer asks: Is the Lexus CPO any different from other manufacturer CPO programs?

Marv Ingram: Lexus has a great program for great vehicles. To compare the various manufacturers' programs go to http://www.lexuscpo.com and you can do comprehensive comparison for yourself. Many automotive website have similar tools to complete a program comparison.

Helpmebuy asks: How do I find a CPO vehicle for the make and model I want?

Marv Ingram: Go to LexusCPO.com and under Search - put in your zip code and the vehicle you are looking for... and you will find the Lexus of your dreams.

Stever asks: What about the tires? Are they new on a CPO Lexus? Are they covered by the warranty?

Marv Ingram: Tires are not a CPO warranty items. During the Lexus certification process if the tires have less than 5/32 of rubber they will be replaced.

rsholland asks: What is the max mileage allowed on a per-owned Lexus to qualify?

Marv Ingram: 60,000 miles

Bob2 asks: When did the CPO program start?

Marv Ingram: In October of 1993 CA22 asks: Why do manufacturers certify vehicles and how do they benefit?

Marv Ingram: Manufacturers certify vehicles to add value to their pre-owned vehicles and create a demand. This allows their vehicles to maintain a higher resale value, which helps the owners when they trade in their vehicles.

Carman asks: Will a dealer haggle on a CPO price?

Marv Ingram: I think any time you buy a vehicle there will be a negotiation on the price

rsholland asks: Are only Lexus vehicles involved? What about other brands?

Marv Ingram: A Lexus dealer can only certify pre-owned Lexus vehicles on our program.

Canoer asks: Does the checklist include stuff like getting *all* the keys, owner's manuals, etc?

Marv Ingram: Yes, the inspection worksheet indicates the number of keys that comes with our vehicles.

Rj asks: Does every Lexus dealer sell certified cars?

Marv Ingram: Yes

Guest asks: Do you drive a certified used Lexus Marv?

Marv Ingram: Yes!

Guest asks: Which one??

Marv Ingram: The SC 430

Canoer asks: When can I buy yours certified?

Marv Ingram: You'll have to ask my wife.

Bob asks: Are CPO warranties bumper-to-bumper or just power train?

Marv Ingram: Limited bumper-to-bumper. If you go to http://LexusCPO.com you can check out all that is covered. But this is a great question…consumers should be aware of the CPO warranty coverage, start dates and maturity dates. Many manufacturers only offer a powertrain warranty and they use the start date as the date when the vehicle was originally sold as new.

Gypsy asks: Is there a MINIMUM mileage on a certified vehicle?

Marv Ingram: No

Rod asks: Can I sell a CPO Lexus with the balance of the warranty?

Marv Ingram: No, and this is one element of our program that protects Lexus CPO buyers. You can only buy a Lexus certified pre-owned vehicle from a Lexus dealer. If we allowed a warranty transfer, we would have third parties and used car lots across the country advertising and selling Lexus certified pre-owned vehicles. But consumer wouldn't know what kind of shape the vehicles were in or if the warranty was still valid.

Laling asks: Are the hybrids RX400s getting certified too?

Marv Ingram: Yes, we've certified 5 so far.

Marv Ingram: First I'd like to thank each of you for your questions. Hopefully I've given you the responses you were looking for and if you have additional questions or concerns regarding the Lexus certified program, please go to http://www.LexusCPO.com.