tracerit

I have an 04 Accord right now and I'm REALLY itching to get an IS350 late this summer since I'll be starting a higher paying job in two months. I have 2 years left to pay the Accord off too. It's a 4cyl, slow, no moonroof, no mp3 capability, and carries a few memories that I'd like to forget (exgf lol).

I'm thinking about either:

A. Double my payments on the Accord (which will equal the payemnts that I'll be making on a used IS350) so I'll pay it off in a year, THEN buy a new IS350 with extended warranty for 7years/100k (is this the term that Lexus offers, not sure if it was 7 years or 5). an '09 IS350 will fix up any problems from the 06-08 models. In a year, we might get a look at the new Acura TSX and TL too.

B. Sell the Accord this summer, buy a used 06 IS350, be happy Hopefully the previous owner will be honest and let me know if there are any problems with the car, if none, there most likely won't be any in the future.

SugarRush

^ I will go with A.
Reasonings:

- A yr from now, you are more stable in your current new job (and financially). From there, you'll be able to gauge whether you will be in this new job for long (or not) and see how the company is doing overall. I am not wishing you bad things here but typically when I hire a more junior person in my division, the 1st yr is the time to evaluate him/her. If the perf reviews of the new guy is not good, I will put in recommendation to let him/her go. So the 1st yr when you start your new job, is not the best time to splurge on money. Again, this is my personal opinion.

- If you are going to keep a vehicle for long, buying new is always better as you will have all its original service records and know how the vehicle has been driven since day 1.

- Who knows a yr form now, you will want something better than an IS350?
Since you can afford it anyway because you are financially more secured.

- Let say you still want IS350 a yr form now, by that time lexus dealers will hopefully be more willing to negotiate on price as the IS will be 3 yrs old. So you may get better, or at least the same deal, as now.

- your 04 accord is still working ok right? No high repairs bill or anything?
If it is still fine, I will keep driving it until you are financially more stable (see 1stpoint above)!

Good luck.

Reyngel

Buy new. I'm thinking as early as this November for the 2008 models, there will be some new changes to the IS, like the refreshed guages, etc, that the ISF has. So by 2009, you'll have a pretty good ride.

You won't regret buying new once you smell that new car smell.

TruPlaya26

iTrader: (4)

I say A.

I would definitely wait a year to buy the new car, it would be a lot nicer to be driving around in a new car then used IMO. Thats exactly what im doing, i have a '94 es300 completely paid off, all im paying is insurance, and im saving up till the end of this year for the '08 IS350 to come out then ill get that and sell my current car.

Batmobile

iTrader: (2)

yeah...A.....is what i would recommend also.

shaolin

iTrader: (2)

I think it's ok for you to buy used 06. I have almost 25k and I think it still drives like a new car. 6-7 years will be no problem. Plus you save more buying used than new and I don't see the differences if it's only been a year old and less miles.

DaveGS4

iTrader: (2)

Option C:

Sell your Accord to a private party or to CarMax (may be worth taking it there to see what they'll offer) and pay it off. Trade only if you get high dollar for it.

Buy a certified pre-owned (CPO) IS350 from a Lexus dealer. You let someone else take the big initial depreciation hit on the car and get a great additional warranty (100K) you're looking for with the new car. Depending on your timing, more IS350s coming off lease may increase your bargaining position.

Lexus used to have a good writeup on CPO, now they have this video site (which includes a PDF link):

http://www.lexus.com/cpodemystify/

Of my three Lexus, I've bought two CPO and recommend it. Was able to bargain effectively on the price and the CPO warranty improves what comes with a new car.

passnu2

iTrader: (33)

agree....get a certified used Lexus. you will have the warratny and a car that isnt broken in yet with a long life span left. pay off the accord and keep it as a beater then you have the best of both worlds..new job, something to look forward to, and a back up car when you start to mod that bad boy out!!!

TimboIS

D. there are NO modern cars that are worth keeping 5-7 years. It will have zero value at the end of that term.

gyung

iTrader: (1)

I don't think the point is that you need to have a car that may or may not keep it's value at the end of 5~7 years. While I have to agree, I think the point was you save money yourself and you love your car.

Buds

Not true. I've had my 99 Accord Coupe for 7 years (going on 8). It's in immaculate condition (61,000 miles). I'm selling it private party and it's fetching upwards of $9500. That's an extra $9500 for my down payment on my IS. Worth nothing? Hardly.

My dad got $10,000 for his 7 year old ES a few years back.

andone

I say Option A

So you can have a beater as well.

kickin8

iTrader: (1)

if you plan to keep the car for long, a brand new one would be your best bet.

good luck and keep us posted!

shoei

If you want the conservative route then go with "A." Nothing like driving a new car off the lot and have a clear record when it comes to service.

I have a 01 IS300 and I am also "ITCHING" to buy a IS350 but I'm going to wait and save up a bit more money so I don't have to borrow as much when I'm ready. I'll probably go with a 09.

is4fsr

Plan A but don't double up your payment. Remember car value goes down hence your extra payment is insignificant when you sell your car. Ie if your payment for example is $250 / mo.Doubling your payment to $500 = $3k extra payment. Will your car value go up $3K? Most likely not. Remember car depreciates not appreciate in value unless it's a classic car. Sell car via third party or by private owner and stick with the private party value and not blue book value(trade in value)
If you're keeping your NEW car always go for a new one and have peace of mind.