How much is my car worth?

[brn7y]

Just a wee inquiry for those in the know, how much is my car worth. See sig' below for details.

[Chris.S]

I would say around £18,500 to £19,000,possibly more depending on the mileage

[brn7y]

What, it's only 6 mths old and cost £23,500 new, I thought they didn't depreciate!

It's done 4000 miles.

[Coxyboy1]

I bought an IS300 10 months ago for 26,000. Got a price from a dealer on a trade in against a TVR, and they offered me 19,000. I was a little miffed!!

[Chris.S]

Originally posted by brn7y

What, it's only 6 mths old and cost £23,500 new, I thought they didn't depreciate!

It's done 4000 miles.

From a private buyer you might get closer to £21,000

[Monster-Mat]

what about mine then chris..............

[UltraViolet]

The Lexus holds its value very well in comparison to many other cars - but it will still take a dive when it changes from New to 2nd hand - even if it only had 500 miles on the clock - it is no longer new.

Most cars have a heavy loss over 1 year, then more sought after cars slow down. Average depreciation states the car should be worth just under 50% of new price at third birthday - I believe the Lexus is well above the 50% mark - closer to 60% in fact.

[andrewr]

Absolutely agree on the retained value figures. I just traded mine in (as you may know). 3 yr old 200 SE Navigator, 38k, and according to my figures I retained 56% of the value. You'd struggle to get figures like that on a Beemer, especially a gutless 318 SE (defacto rep mobile). All the other so called prestige marks struggle to get close to 45% over 3 years.

[Matthew_McNally]

Originally posted by Coxyboy1

I bought an IS300 10 months ago for 26,000. Got a price from a dealer on a trade in against a TVR, and they offered me 19,000. I was a little miffed!!

you'll always get a lower figure off a dealer - got to remember that they have to factor into the cost of any part exchange when they sell it on.

So...

£19,000 to you

say

£2,000 part exchange when I sell it

plus

£1,000 for dickering when the punter tries to get the price down

put it up for £23,000 and I should make a few bob

crossed>

[javadude]

I wonder if the S trim does better % wise? £18k new - I bought mine at 2 yr for £16k, now (nearly 3 yrs) dealers are selling similar age/mileage (30k) for £14-15k - think thats 77% of original value. (Mind you I know I wouldn't get that if I traded it in.)