Price Offered For My Rx350

[Kate]

My lexus Rx350SE is on a 56 plate (november) & I got it discounted to £37500 a saving of around 3k.

I've asked for a valuation on this from my local lexus centre & they have come up with a figure of 22.5k! It's spotless & has 8000 on the clock. Is this normal & where should I be looking to sell if not back to the dealership?

Any help appreciated.

[DJ Wozza]

omg that sounds like a huge drop, but not sure if that is market value.

someone will advise, but I'd say it was a few grand low.

[Rillo]

This is par for the course unfortunately - I was offered similar for mine, also 56 plate :

- Nobody wants big petrol 4*4

- Lexus depreciate quickly anyway

- 400H outsells 350 by 9:1 so Lexus don't want to part ex if they can help it.

My plan is to keep mine for about 4 years when depreciation will have tailed off.

[Steve ( West Mids )]

I guess look at www.autotrader.co.uk and www.lexus.co.uk to do a price check, but these will be retail so more than you will get for a part exchange or cash deal. Also try a couple more Lexus dealers and not the one that gave you the discount ;)

[Rory]

what does parkers say?

[BosniaLexus]

Ouch! Big drop. Name and shame the dealer. What seems to happen is that they like to make around £2,000 for every £10,000 of real value. What this means is they want to sell yours for a realistic 26,000 (earning a profit of 4,000). If you are trading in for something else, say an IS250Sport costing £32000 (fully kitted) they would then ask for the balance of the cash payable (£6000). Thus, they will make £8,000 on you alone, plus the other stuff they make money on (paint protection at 350, lexus finance with big commission to dealer, and maybe GAP insurance, car insurance and so on.

Most buyers want to buy a car from the dealer because they believe the service is excellent, so selling it privately is tough.

Why are you selling, by the way? What did you not like about this car? There are a lof of them around, for sale at lexus.

Strategies (a) keep it (B) drive trade in price up by 2000 and offer the balance in cash, waving 2000 less at them. SOme dealers will be sensible enough to take 4,000 profit and get the business. Good luck

[Kate]

Nothing wrong with the car at all, I LOVE it, I just want another one.

[WylieCoyote]

You keep buying new cars, you're going to lose money - shed loads of it. Been there done it and regret it. Cars are a sure-fire way to keep your wallet in check - the only questions are how much are you going to lose and how quickly.

[corsavandal]

I agree with Keith, lost nearly 5K on my first car which i had from new and sold four years later. If your wallet cant handle the depreciation drop then look at getting a 2nd hand one from the dealer or better still privately.

Otherwise look at finance options where you can send it back after 3 years or pay a lump sum (which is usually more than the cars worth at that time!), then start again.