young1026

I recently purchased a 2014 Lexus is250 AWD, and I payed a lot for it, we were rushed especially because my brother needed a car.

If i wanted to trade in my 2014 Lexus for a is250 FSPORT how much would i actually lose?

I put 15 down on my car right now and it has about 8k miles?

In the beginning they wouldn't find a 2014 is250 f sport for me, telling me I'd have to wait, either way its my fault but just a question if anyone was familiar with this type of trade/transaction.

gmanusmc

Appraise it on KBB or if you have a carmax nearby, they will give you a good idea of wholesale value. Obviously you'd get more selling privately. If you do this now, you're in for a big financial hit.

tea

My guess is very low 30s or high 20s for trade in value at the dealer, depending on your options

IS1911

Dude,

You're going to take a bath on your trade and gain nothing. I could sort of understand if you were going for a 350 but to trade a 250 for a 250 with the F-Sport package doesn't make financial sense and with all due respect doesn't even make much sense from an enthusiast standpoint either. If you don't mind me asking what is it about the F-Sport package that is so appealing to you? I purposely purchased my 350 without it.

lucidspoon

Define "a lot". No way for anybody to tell you with out knowing how much you owe. And remember, if you still owe more than it's worth, you have to pay that off or roll it over to the new loan.

I paid about $4000 more than I should have on a car years ago, and thought about trading it in for a nicer car. Not worth being upside down in a more expensive car. Just took the time to pay it off and got rid of it. Much better.

NikonGuy

iTrader: (1)

I agree with IS1911, if you are going to take a hit at least upgrade to IS350

davyjordi

i wouldn't do it at this moment if i were you.

pay off enough of the debt owed on the car so that you aren't significantly upside down and so that you don't have to fork over another large downpayment and then perhaps look at your options.

gmanusmc

He's probably not upside down - he put a pretty good down payment on the car he wants to trade. He will, however, probably lose much of the money he invested in this car.

CashGap

Rule of thumb, value of ALL your vehicles should never exceed 25% of your annual income at the absolute, straining upper end. So if you make $10k per year, drive a $2,500 car. If you make $100k per year, never own more than $25,000 worth of cars in total.

If you exceed that, you are spending WAY too much of your life paying for car depreciation. For which you have nothing to show.

Another vote for keeping the one you have.

FastTags

Well here is what we need to know in order to evaluate your trade:

Msrp on your is250
10 day payoff
Residual
How long you had it for
selling price
What options it come with
Milage

Say msrp is $42
Sell price $37
With 8k miles private sale value around $34, trade in value around $31.5-32.0 max.

$37-15=$22+tax+% aprox = $25k

$15k should pretty much cover all your paymnets (again we dont jnow what are the terms), RV is most likely what you going to have to pay. Which could be around $25k. So if you get $30k for the trade you will have around $5k positive equity( of course my numbers are just examples), in this case you loose $10k +the payments you have paid.
Without knowing your 10day payoff hard to say since we dont know the residual value. Since you put $15k down, tou will not be upside down, but you may loose about $5-7$ depending on some factors.

gmanusmc

Holy moly tags - you should consider car sales as complicated as you've made this sound.

I believe he stated he purchased this vehicle (not leased - residual does not apply).

He also mentioned he invested a $15k down payment.

It's fairly simple - he has not had the car long - he will lose quite a bit of his investment if he trades - a little less if he sells on his own.

He will need to determine the actual cash value of his trade in to find out how bad the financial hit will be.

FastTags

I have sold cars in the past :-)

gmanusmc

Yeah, I tried it for a bit too when I retired from the military - wasn't for me.

I'm not sure the OP is even interested in this anymore as we haven't heard from him in awhile.