Depreciation Shock
10-22-09, 08:04 PM
#1
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Depreciation Shock
I was at a dealer today and had my car appraised & was shocked at how much my car depreciated.
2007 GS 350 AWD
ML Audio/Navi
G-spider wheels
Mint condition, no scratches or dents
6500 miles on ODO
Trade in value $30k
I expected more, it sure depreciates more than German makes.
2007 GS 350 AWD
ML Audio/Navi
G-spider wheels
Mint condition, no scratches or dents
6500 miles on ODO
Trade in value $30k
I expected more, it sure depreciates more than German makes.
10-22-09, 08:16 PM
#2
Lexus Fanatic
I have to admit I was very upset about this fact as well. I have seen my car plummit in value since I bought it brand new in 2007. I thought Lexus was supposed to hold its value a bit better than an American car.
The long term test from Road & Track magazine on the 2008 Lexus ISF shows that the car lost $20,678 in value in 1 year. Thats like 37% decrease in value in one year . I know all cars are going to lose value immediately off the lot, but 37% in 12 months. OUCH!!!! I guess in the future I will buying CPO Lexus vehicles because of this. I dont think the German cars other than Mercedes will drop in value this quickly
The long term test from Road & Track magazine on the 2008 Lexus ISF shows that the car lost $20,678 in value in 1 year. Thats like 37% decrease in value in one year . I know all cars are going to lose value immediately off the lot, but 37% in 12 months. OUCH!!!! I guess in the future I will buying CPO Lexus vehicles because of this. I dont think the German cars other than Mercedes will drop in value this quickly
10-22-09, 09:40 PM
#5
I was at a dealer today and had my car appraised & was shocked at how much my car depreciated.
2007 GS 350 AWD
ML Audio/Navi
G-spider wheels
Mint condition, no scratches or dents
6500 miles on ODO
Trade in value $30k
I expected more, it sure depreciates more than German makes.
2007 GS 350 AWD
ML Audio/Navi
G-spider wheels
Mint condition, no scratches or dents
6500 miles on ODO
Trade in value $30k
I expected more, it sure depreciates more than German makes.
fact is most luxury cars depreciate 50% the first 3 yrs (from msrp of course, otherwise there is no reference point). i have seen it all with all the brands, bmw, mb, lexus, audi, you name it.
and for sure the recent economy does not help at all since new car prices are lower than ever
that's the price you pay for luxury cars
10-22-09, 09:50 PM
#6
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Cmon guys, trade in value is always low. You will rarely get a great trade at a dealer. Take 5 min to look at the cars on Lexus lots. GS 300s are going for 30k. Used car lots have lower prices.
It depreciates no worse than the Germans. Want a heart attack? Price a 545 or 550 with a MSRP of 70k and see what the price is today. Price a AMG car.
As Henry stated, Luxury cars depreciate a lot if you buy new.
It depreciates no worse than the Germans. Want a heart attack? Price a 545 or 550 with a MSRP of 70k and see what the price is today. Price a AMG car.
As Henry stated, Luxury cars depreciate a lot if you buy new.
10-22-09, 11:34 PM
#7
Cmon guys, trade in value is always low. You will rarely get a great trade at a dealer. Take 5 min to look at the cars on Lexus lots. GS 300s are going for 30k. Used car lots have lower prices.
It depreciates no worse than the Germans. Want a heart attack? Price a 545 or 550 with a MSRP of 70k and see what the price is today. Price a AMG car.
As Henry stated, Luxury cars depreciate a lot if you buy new.
It depreciates no worse than the Germans. Want a heart attack? Price a 545 or 550 with a MSRP of 70k and see what the price is today. Price a AMG car.
As Henry stated, Luxury cars depreciate a lot if you buy new.
in general lexus have been better on resale already.
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10-23-09, 05:41 AM
#8
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Cmon guys, trade in value is always low. You will rarely get a great trade at a dealer. Take 5 min to look at the cars on Lexus lots. GS 300s are going for 30k. Used car lots have lower prices.
It depreciates no worse than the Germans. Want a heart attack? Price a 545 or 550 with a MSRP of 70k and see what the price is today. Price a AMG car.
As Henry stated, Luxury cars depreciate a lot if you buy new.
It depreciates no worse than the Germans. Want a heart attack? Price a 545 or 550 with a MSRP of 70k and see what the price is today. Price a AMG car.
As Henry stated, Luxury cars depreciate a lot if you buy new.
10-24-09, 05:25 AM
#14
You can pick up an 2006 S65 for 25 cents on the dollar for what they MSRPd for. That's steep depreciation! I admit, an E55 was tempting when I was shopping for a GS, but I generally keep cars for 10+ years and the thought of expensive repairs on an AMG scared me away. If the GS starts having expensive repairs down the road, I'll sell it and find something else I can get a couple hundred thousand miles out of. We've bought both our Lexus used (3-4 years old and 30k-40k miles) and would rather put the money we'd spend on payments into other things. A well maintained 3 year old Lexus still has plenty of life left and is a decent buy since most of the depreciation hits early.
10-24-09, 12:24 PM
#15
You can pick up an 2006 S65 for 25 cents on the dollar for what they MSRPd for. That's steep depreciation! I admit, an E55 was tempting when I was shopping for a GS, but I generally keep cars for 10+ years and the thought of expensive repairs on an AMG scared me away. If the GS starts having expensive repairs down the road, I'll sell it and find something else I can get a couple hundred thousand miles out of. We've bought both our Lexus used (3-4 years old and 30k-40k miles) and would rather put the money we'd spend on payments into other things. A well maintained 3 year old Lexus still has plenty of life left and is a decent buy since most of the depreciation hits early.