Depreciation

[leedsunited]

Just had my MK2 RX 300 SE-L 60K service and whilst in the showroom enquired about moving up into a RX350, the shock of being told that i was looking at £16K on my vehichle was enought to spoil the day, i paid £28K for it not 15 months ago, is anybody else having similar problems.

I am thinking of moving on from Lexus now based purely on the poor re sale values that appear to being offered, premier brand s*** investment. :tsktsk:

[maneesh]

what's to be shocked about, dealers always give ludicrously low part exchange values.. if you sold the car privately, you would get more than 16k for it...

you would get low part exchange values offered by audi, merc, beemer etc..

[leedsunited]

what's to be shocked about, dealers always give ludicrously low part exchange values.. if you sold the car privately, you would get more than 16k for it...

you would get low part exchange values offered by audi, merc, beemer etc..

Maybe so but i feel there is a difference between commercial discussion / negotiation and out and out insult.

[Fidgits]

what's to be shocked about, dealers always give ludicrously low part exchange values.. if you sold the car privately, you would get more than 16k for it...

you would get low part exchange values offered by audi, merc, beemer etc..

Maybe so but i feel there is a difference between commercial discussion / negotiation and out and out insult.

when i was looking at changing my IS200, i asked about a trade-in on a brand new IS, to be given the lowest trade in quote I had received, including when looking at cars half the price of the new IS!

[fatpieman69]

it's not just Lexus though. my dad brought last week a Merc CLK It has done 11K is a year old but because my dad has private plates you'd asume it was brand new.

He paid £23k for it at Merc Lough and he was told, becuase he is a good customer (used the same guy for the last 8 years), the previous owner paid £39k for it brand new, I did spec it online and the price is correct.

So the previous guy had lost circa £20k in a year!

If your bothered about re-sale buy a porche boxter, New Mini or an audi tt new shape, even then it's still going to lose alot of money!

Craig

[leedsunited]

it's not just Lexus though. my dad brought last week a Merc CLK It has done 11K is a year old but because my dad has private plates you'd asume it was brand new.

He paid £23k for it at Merc Lough and he was told, becuase he is a good customer (used the same guy for the last 8 years), the previous owner paid £39k for it brand new, I did spec it online and the price is correct.

So the previous guy had lost circa £20k in a year!

If your bothered about re-sale buy a porche boxter, New Mini or an audi tt new shape, even then it's still going to lose alot of money!

Craig

I think everybody expects to take a hit on a new car, my gripe is that mine according to the man with the book has lost 12K in 15 months 3 years into it's life.

[maneesh]

but you've done 60k miles in 15 months? that's gonna hurt resale value as it's considered a high miler!!! everyone wants low mileage used cars!

[leedsunited]

but you've done 60k miles in 15 months? that's gonna hurt resale value as it's considered a high miler!!! everyone wants low mileage used cars!

No i have done 15K in 15 months, the car has done 60k in its life.

[Nick The Greek]

What was the retail on it brand new?

[T7RY B]

Top of the range BMW x5 loses around 20 thousand pounds in it's first 12-18 months and that is on a low mileage estimate.

Dealers will always give you the lowest value 'cos they have to sell them again as warranted "used cars"

Hard to get cars or long waiting lists are the models that will retain the value.

Personally I have only ever had 2 "brand new" cars. Both lost a lot of money.

If I had a lot of money and wanted a prestige car then it would not bother me to buy a demonstrator or very low mileage "used" car. It is only new 'till you drive it off the forecourt.

I know that somebody has to buy new cars for there to be used cars but a brand new car as opposed to a car with 7/8 K on it would not make a difference to me. Only for the fact that I saved a bundle of money.

When buying ANY new car you have to factor in the resale/depreciation in that option.

If you like to change your cars on a regular basis every couple of years or so then NEW cars are really going to cost. Keeping a new car for as long as possible (FSH) is the option where you may get better resale value.If I won the lottery tomorrow it would be off to buy a Bentley Continental GT that I could drive off the forecourt THAT DAY. Not wait 9 months for a brand new one,that is going to cost me 25 grand to drive it home in depreciation on day one.

Just my two penneth"

[maneesh]

but you've done 60k miles in 15 months? that's gonna hurt resale value as it's considered a high miler!!! everyone wants low mileage used cars!

No i have done 15K in 15 months, the car has done 60k in its life.

ok matey, sorry for mis understanding..but my point still stands that it's above average mileage..dealer would find it harder to sell on, hence lowish price..i know some lexus dealers told me they generally try not sell any used cars with more than 60k miles..in the forecourt i mean..

but you've done 60k miles in 15 months? that's gonna hurt resale value as it's considered a high miler!!! everyone wants low mileage used cars!

No i have done 15K in 15 months, the car has done 60k in its life.

ok matey, sorry for mis understanding..but my point still stands that it's above average mileage..dealer would find it harder to sell on, hence lowish price..i know some lexus dealers told me they generally try not sell any used cars with more than 60k miles..in the forecourt i mean..

a new car loses 17.5% vat and 5% special car tax as soon as it's out of the dealer

[paul_k]

Look at lexus depreciation positively

I paid 36K for a 17month old SC with 8000 miles.

Thats almost £20K off new...

Paul

[spikes]

when you think of it like that it's a bargain :D

and the most you can lose now is 36K :winky:

[leedsunited]

What was the retail on it brand new?

I believe it was around the £38K - £40K bracket

[lelandv]

Just sold my 400h, having done 15k miles in a year, I was quite pleased with the depreciation rate... not as steep as most vehicles. I've now pinched my IS200 back from my missus Getting her an old MPV or something for practical purposes.

L.

[peter026]

Just sold my 400h, having done 15k miles in a year, I was quite pleased with the depreciation rate... not as steep as most vehicles. I've now pinched my IS200 back from my missus Getting her an old MPV or something for practical purposes.

L.

I bet she's happy

[lelandv]

Actually she is, because she wins in the long run...

Had a choice of either paying the monthlies on the RX and buying a smaller house, or selling the RX and buying a bigger house (read as "better kitchen"). *cough*

Besides, keeping the RX would have been impractical with my work now taking up a considerable amount of time in Europe as well so we're bouncing around between here and France... that coupled with buying a new house and everything else... you know how it goes.

L.

[peter026]

Actually she is, because she wins in the long run...

Had a choice of either paying the monthlies on the RX and buying a smaller house, or selling the RX and buying a bigger house (read as "better kitchen"). *cough*

Besides, keeping the RX would have been impractical with my work now taking up a considerable amount of time in Europe as well so we're bouncing around between here and France... that coupled with buying a new house and everything else... you know how it goes.

L.

Best of luck Leland :winky:

[marsden1002]

Depends what Lex garage you go. When i was looking to change my 51 Plate IS200 to a brand new IS200, i was told £10500 from manchester, and £13500 from Stockport!!

[Bartierx300]

Having sold my RX and took a 10k loss on a 6 month old car with 2500 miles on the clock, be prepaired to lose bundles especially with the new model hitting the USA in 2008 and Europe in 2009!

[jbanfie]

New models in 2008 and 2009 - tell more, I can't find much on the net about them?

[Bartierx300]

New models in 2008 and 2009 - tell more, I can't find much on the net about them?

Check New RX Series Thread, posted by Hemmerdinger