Used Values Are Nose Diving

[cheeky]

I got one hell of a shock at the weekend. Went to have my 04 IS200 SE (with DVD Nav) 14k miles valued as I'm going to need more boot space etc.

Lexus could only offer me £14k top whack as a cash buyer, and an independent garage said max. £13.5k to trade for a car on his forecourt. Really peeved as even with a good initial deposit I still have nearly £16k as a settlement figure. Similar cars are still advertised at £17k on Lex forecourts.

They claim that used IS's are very difficult to shift with the new model coming out soon, but that valuation left me very surprised.

If anyone seriously wants an 04 Astral Black/Oakham trim manual SE spec with Sat Nav and can make a serious offer of £15k PM me.

Other than that I'll have to struggle on until the finance 'half-way' point (10 months!!!) when I can just hand it back. If anyone knows of another solution, let me know.

Cheers guys and sorry for the long post.

[kam05]

Your joking mate!

I've seen an IS200SE non sat-sav (02 plate) with 25k on the clock been advertised for £14.5K at Lexus Leeds. Age old rule mate, try and sell privately for a higher value.

[Wosket]

lexus bolton valued my IS200 sport navigator, w plate at £6750 last week! that was based on part ex for a new 05 plate IS (not the new shape). Insurance Co. valued it at £11500 after my crash.

we're all doomed!

[MacRS200]

Fact is more and more IS's are coming on the secondhand market, this is bound to have an adverse effect on the re-sale value. Take a look on Auto Trader and do search for IS200's, loads come up.

Victims of Lexus success

[Kremmen]

New cars will always lose a bucketful in their first few years, as you have unfortunately found.

I have just used Parkers (yes I know) to get a feel of the situation.

Lexus Is200 SE Auto 2004 on a 53 plate.....

Cost new = £21,535

P/X Value now = £15,000

Citroen C5 Exclusive V6 2004 on a 53 plate.....

Cost new = £22,477

P/X Value now = £8,080

Lexus Is200 SE Auto 1999 on a T plate...

Cost new = £23,195

P/X Value now = £8,140

Can't be all that bad in the long term ?

[Zee007]

as I'm going to need more boot space etc.

If anyone knows of another solution, let me know.

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Get a roof rack and trailor?

[RED-EYE]

I got one hell of a shock at the weekend. Went to have my 04 IS200 SE (with DVD Nav) 14k miles valued as I'm going to need more boot space etc.

Lexus could only offer me £14k top whack as a cash buyer, and an independent garage said max. £13.5k to trade for a car on his forecourt. Really peeved as even with a good initial deposit I still have nearly £16k as a settlement figure. Similar cars are still advertised at £17k on Lex forecourts.

They claim that used IS's are very difficult to shift with the new model coming out soon, but that valuation left me very surprised.

If anyone seriously wants an 04 Astral Black/Oakham trim manual SE spec with Sat Nav and can make a serious offer of £15k PM me.

Other than that I'll have to struggle on until the finance 'half-way' point (10 months!!!) when I can just hand it back. If anyone knows of another solution, let me know.

Cheers guys and sorry for the long post.

←

my mate sold his 54 plate with 12000miles 18500

[jmoz21]

New cars will always lose a bucketful in their first few years, as you have unfortunately found.

I have just used Parkers (yes I know) to get a feel of the situation.

Lexus Is200 SE Auto 2004 on a 53 plate.....

Cost new = £21,535

P/X Value now = £15,000

Citroen C5 Exclusive V6 2004 on a 53 plate.....

Cost new = £22,477

P/X Value now = £8,080

Lexus Is200 SE Auto 1999 on a T plate...

Cost new = £23,195

P/X Value now = £8,140

Can't be all that bad in the long term ?

←

p/x 8140 for an se on a t plate!

everywheres quoting me 6500 p/x for my se on a w with 70k

[Kremmen]

Could be the mileage - that 8140 is based on 40k - plus Parkers are usually a grand over what you will realisticly be offered.

[MartinC]

I think Lexus dealers are just bloody greedy if they offering £13.5K for an '04 plate with those miles they will try and make a fortune on it.

Lexus Hatfiled have an '04 plate Sport with no Sat nav, done 11K miles and they want £19.5k for it. Sports only cost a touch more new so theres no way they can justify that difference.

Difficult to shift?? That particular dealer is selling loads of IS's at the mo

I actually test drove that particular car before I bought mine new. It didn't seem that much discounted and didn't have the Sat-nav that I wanted.

Cheeky sounds like you are on a lease purchase finance scheme is that right??

[MacRS200]

Dealers run a business, you get all the "yes sir, no sir, three bags full sir" who pays for it Dealers buy cheap and sell expensive, simple really

[cheeky]

Yep -- it's on a PCP scheme. Not too bad at the outset so I thought. £16k is the agreed settlement figure so I may advertise privately and see if I can get near that. Still staggered they could only give me £14k and then tell me Astral Black and Oakham trim was 'not a great colour combination'. That was after they described it as 'stunning' when I put the order in. Don't you just love salesman bullsh*t?!

Don't think I'm ever going to use car finance again if I've been stung. Did the usual checks though - Lowish APR, haggled £1000 off purchase price. I bet the pricey sat nav option has let me down here. At £2500 in March '04 it was a pricey extra.

[Wayne3940]

I got one hell of a shock at the weekend. Went to have my 04 IS200 SE (with DVD Nav) 14k miles valued as I'm going to need more boot space etc.

Lexus could only offer me £14k top whack as a cash buyer, and an independent garage said max. £13.5k to trade for a car on his forecourt. Really peeved as even with a good initial deposit I still have nearly £16k as a settlement figure. Similar cars are still advertised at £17k on Lex forecourts.

They claim that used IS's are very difficult to shift with the new model coming out soon, but that valuation left me very surprised.

If anyone seriously wants an 04 Astral Black/Oakham trim manual SE spec with Sat Nav and can make a serious offer of £15k PM me.

Other than that I'll have to struggle on until the finance 'half-way' point (10 months!!!) when I can just hand it back. If anyone knows of another solution, let me know.

Cheers guys and sorry for the long post.

←

You can hand it back then I've done it before and it has causes no probs with your credit rating or anything.

The bad side is you'll not have any equity for your next car. Usually when you reach the half way point on a HP agreement the value of your car should overtake the settlement.

Without looking seeing your deal I would guess things won't be so bad in 10 months you always get stung if you try to leave a finance agreement early......

[MartinC]

Yep -- it's on a PCP scheme. Not too bad at the outset so I thought. £16k is the agreed settlement figure so I may advertise privately and see if I can get near that.

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Still not convinced on these PCP schemes mate, I've avoided them up till now, I bought my IS on one a few weeks back, then worked out some figures and got a loan at 5.9% to settle early, very early infact, didn't even make the first payment. Gonna save a packet - £2100 over 3 years.

I can't believe they say your car is the wrong colour combination :duh: ***** they only do 2 interior colours.

When I bought mine they set a residual value of £7800 after 3 years, your £16k residual sounds very high

[Parthiban]

You've gotta try sell it privately, I tried the same when my car was stolen and recovered, and they offered 10k for an '02' SE Auto, so didn't bother

They're screwing the part/ex values now

[cheeky]

Yep. I think I'll bung it in autotrader over the summer and see if it gets any interest. The car is in outstanding condition so hopefully things should work out. Just depends if anyone wants to part with £15 - £16k for a used car. Still full warranty though I suppose.

Thanks for the words of wisdom guys.