Unbelievable!

[lee789]

I was thinking of part exchanging my 11 month old GS450H SEL for an RX, as I now need more boot space. Unbelievably, the best P/EX price I have been given by any Lexus dealer is £26k! The car is the top spec ACC/PCS model and has only covered 6000 miles from new. This means the value has fallen by more than 50% since June last year. Several dealers have told me that the GS 450H is difficult to sell, and that is reflected in their offers. Probably absolute tosh, but if true, I'm not suprised people aren't buying them if the thieving gits are offering customers less than half price after 11 months! Think I may well just buy a roof box, or off load the car before it's value halves again. Anyone else got a similar story to tell??

[Parthiban]

Unfortunately I don't think the GS (and many other large cars) hold their value very well in the early parts of the their life, not really worth buying one new if you're going to change it soon after.

Remember a few years ago looking at a GS450h Sport my dealer had on the forecourt - this is a car that listed at around £47k if I remember correctly (similar to what yours probably cost), it was 9 months old with a few thousand miles on the clock on at £27,995.

Having said that as you're buying another Lexus I'd expect them to do a decent deal on the final cost to change - which dealers have you approached so far?

[lee789]

Unfortunately I don't think the GS (and many other large cars) hold their value very well in the early parts of the their life, not really worth buying one new if you're going to change it soon after.

Remember a few years ago looking at a GS450h Sport my dealer had on the forecourt - this is a car that listed at around £47k if I remember correctly (similar to what yours probably cost), it was 9 months old with a few thousand miles on the clock on at £27,995.

Having said that as you're buying another Lexus I'd expect them to do a decent deal on the final cost to change - which dealers have you approached so far?

[lee789]

Unfortunately I don't think the GS (and many other large cars) hold their value very well in the early parts of the their life, not really worth buying one new if you're going to change it soon after.

Remember a few years ago looking at a GS450h Sport my dealer had on the forecourt - this is a car that listed at around £47k if I remember correctly (similar to what yours probably cost), it was 9 months old with a few thousand miles on the clock on at £27,995.

Having said that as you're buying another Lexus I'd expect them to do a decent deal on the final cost to change - which dealers have you approached so far?

Hi there,

I've tried 16 dealers around Essex, London, Kent, Suffolk etc. The massive drop in values kinda adds some credence to the cars being overpriced Toyotas in the first place. Luckily, as you might remember, I purchased the car from Woodford and paid a lot less than the new price. I had expected them to offer maybe £4 or £5k less than I paid, particularly as I wanted to part ex for another of their cars. All I got offered was a 60 plate 250C (my car + £6k), or a 59 plates RX 450H SEI for my car plus £12k. Rather liked the 250C because it has a huge boot, but it was darn difficult getting in the back seats with the roof up. Distinctly underpowered for a convertible sports car too don't you think? Interestingly, Woodford are advertising both cars at almost the same forecourt prices, so I don't know why the deal on the RX was £12k as opposed to £6k on the 250C. I have heard that the RX is the only Lexus in demand at the moment, so that might explain it. They certainly seem to hold their prices better than all the other models.

[scudney]

I was thinking of part exchanging my 11 month old GS450H SEL for an RX, as I now need more boot space. Unbelievably, the best P/EX price I have been given by any Lexus dealer is £26k! The car is the top spec ACC/PCS model and has only covered 6000 miles from new. This means the value has fallen by more than 50% since June last year. Several dealers have told me that the GS 450H is difficult to sell, and that is reflected in their offers. Probably absolute tosh, but if true, I'm not suprised people aren't buying them if the thieving gits are offering customers less than half price after 11 months! Think I may well just buy a roof box, or off load the car before it's value halves again. Anyone else got a similar story to tell??

Hi there sadly in this time of economic down turn larger car are more difficult to shift doesnt really matter what make they - you got cost of petrol to think of,road tax etc,a work colleague of mine just bought a Ford Focus 1.6 Diesel and pays £35 a year road tax and my IS costs me £245. In last sundays NOW Newspaper are a list of Depreciation duffers and winners eg a Chrysler 300C had a residual value of £10,778 after 3 years(£44910 new) 24% residual value while a E63 AMG had a residual value of £35,973 after 3 years(£73,415 new)51% residual value,Alfa Brera 3.2 V6 JTS - £9,535 29% residual value(£32,878 new),Audi TT Coupe fsi £14,650 60% residual value(£27,130 new)to mention a few.Sadly as soon as you leave the show room with your car it loses value while dealers equally want to pay as little as they can and make as much as they can.

[Parthiban]

Hi there,

I've tried 16 dealers around Essex, London, Kent, Suffolk etc. The massive drop in values kinda adds some credence to the cars being overpriced Toyotas in the first place. Luckily, as you might remember, I purchased the car from Woodford and paid a lot less than the new price. I had expected them to offer maybe £4 or £5k less than I paid, particularly as I wanted to part ex for another of their cars. All I got offered was a 60 plate 250C (my car + £6k), or a 59 plates RX 450H SEI for my car plus £12k. Rather liked the 250C because it has a huge boot, but it was darn difficult getting in the back seats with the roof up. Distinctly underpowered for a convertible sports car too don't you think? Interestingly, Woodford are advertising both cars at almost the same forecourt prices, so I don't know why the deal on the RX was £12k as opposed to £6k on the 250C. I have heard that the RX is the only Lexus in demand at the moment, so that might explain it. They certainly seem to hold their prices better than all the other models.

Have you tried Lexus Edgware Road by any chance? Not that long ago did some purely speculative looking and they offered me double what Woodford did for my car - admittedly a relatively old IS200 but still a surprising difference.

Have to agree about the IS250C, very underpowered, how the decision not to bring the IS350C was reached I have no idea (especially at the prices they are trying to charge). I'm also not hugely keen on the way it looks, but obviously that's more of a personal preference.

Hi there sadly in this time of economic down turn larger car are more difficult to shift doesnt really matter what make they - you got cost of petrol to think of,road tax etc,a work colleague of mine just bought a Ford Focus 1.6 Diesel and pays £35 a year road tax and my IS costs me £245. In last sundays NOW Newspaper are a list of Depreciation duffers and winners eg a Chrysler 300C had a residual value of £10,778 after 3 years(£44910 new) 24% residual value while a E63 AMG had a residual value of £35,973 after 3 years(£73,415 new)51% residual value,Alfa Brera 3.2 V6 JTS - £9,535 29% residual value(£32,878 new),Audi TT Coupe fsi £14,650 60% residual value(£27,130 new)to mention a few.Sadly as soon as you leave the show room with your car it loses value while dealers equally want to pay as little as they can and make as much as they can.

I fully understand the large engined cars taking a big hit, but the GS450h is reasonably ok in terms of running costs so I'm surprised it's so bad, probably a combination of the lack of boot space and the GS is due for replacement next year.

[lee789]

Hi there,

I've tried 16 dealers around Essex, London, Kent, Suffolk etc. The massive drop in values kinda adds some credence to the cars being overpriced Toyotas in the first place. Luckily, as you might remember, I purchased the car from Woodford and paid a lot less than the new price. I had expected them to offer maybe £4 or £5k less than I paid, particularly as I wanted to part ex for another of their cars. All I got offered was a 60 plate 250C (my car + £6k), or a 59 plates RX 450H SEI for my car plus £12k. Rather liked the 250C because it has a huge boot, but it was darn difficult getting in the back seats with the roof up. Distinctly underpowered for a convertible sports car too don't you think? Interestingly, Woodford are advertising both cars at almost the same forecourt prices, so I don't know why the deal on the RX was £12k as opposed to £6k on the 250C. I have heard that the RX is the only Lexus in demand at the moment, so that might explain it. They certainly seem to hold their prices better than all the other models.

Have you tried Lexus Edgware Road by any chance? Not that long ago did some purely speculative looking and they offered me double what Woodford did for my car - admittedly a relatively old IS200 but still a surprising difference.

Have to agree about the IS250C, very underpowered, how the decision not to bring the IS350C was reached I have no idea (especially at the prices they are trying to charge). I'm also not hugely keen on the way it looks, but obviously that's more of a personal preference.

Hi there sadly in this time of economic down turn larger car are more difficult to shift doesnt really matter what make they - you got cost of petrol to think of,road tax etc,a work colleague of mine just bought a Ford Focus 1.6 Diesel and pays £35 a year road tax and my IS costs me £245. In last sundays NOW Newspaper are a list of Depreciation duffers and winners eg a Chrysler 300C had a residual value of £10,778 after 3 years(£44910 new) 24% residual value while a E63 AMG had a residual value of £35,973 after 3 years(£73,415 new)51% residual value,Alfa Brera 3.2 V6 JTS - £9,535 29% residual value(£32,878 new),Audi TT Coupe fsi £14,650 60% residual value(£27,130 new)to mention a few.Sadly as soon as you leave the show room with your car it loses value while dealers equally want to pay as little as they can and make as much as they can.

I fully understand the large engined cars taking a big hit, but the GS450h is reasonably ok in terms of running costs so I'm surprised it's so bad, probably a combination of the lack of boot space and the GS is due for replacement next year.

I think that's the problem with dealers today. Rather than reaching agreement with a reasonable salesman, you are at the mercy of the bloody accountants who dictate the deals being done by them. I've been offered more for my GS by We Buy Any Car, and I think that says a lot. What annoys me the most is that they completely ignore the trade guide prices in Glass's and Parkers (which were always used to determine fair trade ins), and then charge top dollar for the car you are buying. So, with customers coming up against that kind of treatment, I'm not suprised Lexus dealers are scratching around to sell their larger models. I realise all cars lose value considerably after leaving the showroom, but 50% in 11 months must be some kind of record!! Incidentally, Parkers give expected depreciation on all cars between 1 and 3 years old, and the GS450H comes nowhere close to 50%. I know that if I traded my GS for £26k, it would be up on the forecourt the next day for £35 or £36K, and thats on top of the profit they make selling me another Lexus vehicle. It's not just greed, it's taking the pi**!!

[tonyricha]

Hi Lee, I thought of you this morning when I received a letter from my dealer saying because of the Japanese earthquake and tsunami new cars are in short supply but they are prepared to reward loyal customers like myself ( I never have and never will buy a brand new car ) by reserving new vehicle stock for us to be registered in time for September plate change! What a relief !!!! I can sleep easy tonite knowing my next overpriced vehicle awaits me. I am amazed they can turn a national disaster with many thousands of lives lost into a marketing opportunity.

Regards Tony

[Duncan Roberts]

Hi Lee, I thought of you this morning when I received a letter from my dealer saying because of the Japanese earthquake and tsunami new cars are in short supply but they are prepared to reward loyal customers like myself ( I never have and never will buy a brand new car ) by reserving new vehicle stock for us to be registered in time for September plate change! What a relief !!!! I can sleep easy tonite knowing my next overpriced vehicle awaits me. I am amazed they can turn a national disaster with many thousands of lives lost into a marketing opportunity.

Regards Tony

Surely very reasonable to alert anyone who might be looking for a new car that walking into the showroom to order in August might not be very successful. The tsunami is a fact of life, now everyone else must get on and deal with the consequences.

[TexMexLex]

I was thinking of part exchanging my 11 month old GS450H SEL for an RX, as I now need more boot space. Unbelievably, the best P/EX price I have been given by any Lexus dealer is £26k! The car is the top spec ACC/PCS model and has only covered 6000 miles from new. This means the value has fallen by more than 50% since June last year. Several dealers have told me that the GS 450H is difficult to sell, and that is reflected in their offers. Probably absolute tosh, but if true, I'm not suprised people aren't buying them if the thieving gits are offering customers less than half price after 11 months! Think I may well just buy a roof box, or off load the car before it's value halves again. Anyone else got a similar story to tell??

As a recent convert to Lexus, although I sympathise with your pain, I think this is par for the course for any med/large exec car. These sort of cars fall pretty rapidly in value over the first year or two and since you have to factor in the dealer margin, it is very expensive to change cars in a short period. I had a "desirable" A6 diesel which - to cut a long story short - I got rid of in just over a year as I wasn't happy with it, and I got about 50% trade-in just over a year later. The irony is, you would probably not get not that much less a year later, but feel much better about your trade-in value. Unless you have something that is really in demand (which are becoming rare these days), there is a certain logic to maintaining a 3-year replacement cycle. (Although, of course keeping you car for as long as possible until it falls apart is really the most cost-effective motoring!)

[Tango]

Hi Lee, I thought of you this morning when I received a letter from my dealer saying because of the Japanese earthquake and tsunami new cars are in short supply but they are prepared to reward loyal customers like myself ( I never have and never will buy a brand new car ) by reserving new vehicle stock for us to be registered in time for September plate change! What a relief !!!! I can sleep easy tonite knowing my next overpriced vehicle awaits me. I am amazed they can turn a national disaster with many thousands of lives lost into a marketing opportunity.

Regards Tony

Go the same letter from the Lexus Sytner group this morning. So good of them to offer their best customers the opportunity to buy not only their new stock, but all the demonstration vehicles as well

[The-Acre]

I was thinking of part exchanging my 11 month old GS450H SEL for an RX, as I now need more boot space. Unbelievably, the best P/EX price I have been given by any Lexus dealer is £26k! The car is the top spec ACC/PCS model and has only covered 6000 miles from new. This means the value has fallen by more than 50% since June last year. Several dealers have told me that the GS 450H is difficult to sell, and that is reflected in their offers. Probably absolute tosh, but if true, I'm not suprised people aren't buying them if the thieving gits are offering customers less than half price after 11 months! Think I may well just buy a roof box, or off load the car before it's value halves again. Anyone else got a similar story to tell??

A friend of mine bought a 3 year old BMW 7series for £5.500 through the trade. It wasn't only the very top of the range, but had a multitude of extras. He worked out that it lost £50 a day in value in those three years. I'd go for a roof box and enjoy what you have for a few years.

[Parthiban]

A friend of mine bought a 3 year old BMW 7series for £5.500 through the trade. It wasn't only the very top of the range, but had a multitude of extras. He worked out that it lost £50 a day in value in those three years. I'd go for a roof box and enjoy what you have for a few years.

£5500 for a 3 year old 7 series? That can't be right? :o

[The-Acre]

A friend of mine bought a 3 year old BMW 7series for £5.500 through the trade. It wasn't only the very top of the range, but had a multitude of extras. He worked out that it lost £50 a day in value in those three years. I'd go for a roof box and enjoy what you have for a few years.

£5500 for a 3 year old 7 series? That can't be right? :o

That's what he paid. He spent a further £1,500 tidying up the body, tyres etc.

He has been in the trade for many years. Definately a case of who you know!

I sat in the car the day he bought it and was amazed by it.

This was a few years ago, at the time the car was on a 52 plate. A couple of weeks ago another mate told me his tale of woe as Audi offered him £7000 trade in for his 2006 S4.

That's why I'm more than happy to own an ageing Lexus (which still drives like new) with all the depreciation behind me :)

[Parthiban]

That's what he paid. He spent a further £1,500 tidying up the body, tyres etc.

He has been in the trade for many years. Definately a case of who you know!

I sat in the car the day he bought it and was amazed by it.

This was a few years ago, at the time the car was on a 52 plate. A couple of weeks ago another mate told me his tale of woe as Audi offered him £7000 trade in for his 2006 S4.

That's why I'm more than happy to own an ageing Lexus (which still drives like new) with all the depreciation behind me :)

That really is amazing, and that trade in price is horrific! Although at present it really is the best time to buy large engined cars as they're cheap as anything.

[The-Acre]

That's what he paid. He spent a further £1,500 tidying up the body, tyres etc.

He has been in the trade for many years. Definately a case of who you know!

I sat in the car the day he bought it and was amazed by it.

This was a few years ago, at the time the car was on a 52 plate. A couple of weeks ago another mate told me his tale of woe as Audi offered him £7000 trade in for his 2006 S4.

That's why I'm more than happy to own an ageing Lexus (which still drives like new) with all the depreciation behind me :)

That really is amazing, and that trade in price is horrific! Although at present it really is the best time to buy large engined cars as they're cheap as anything.

I suppose that was an exceptional buy, but being in the know helps, maybe a company collapses and cars etc are repossesed and money is recovered asap? Maybe even some dodgy dealings! My own Lexus came from a similar situation years ago, a yuppie car in the 90's, then recession, then bought by the previous owner for very little. In fact the previous owner wasn't even looking for a big car but the silly price was irresistible!