I used a normalized depreciation chart. It's works off averages, so it won't give exact numbers for every car, since models depreciate at slightly different rates. And there are always outliers, not those are the rare exceptions. Limited production car or special editions. There are some cars that depreciate less during the first few years, like the Jeep Wrangler, Honda CRV, Toyota Tacoma, and they get much closer to be less costly to buy new. But you will still end up saving money buying 3 years old instead of new. Big luxury sedans like the S class definitely don't fall into that category.

https://en.wikipedia.org/wiki/Depreciation

 

 

 

My parents have always bought new. They also drove until the wheels fell off and cars were not anything that they liked (they did have 3 Toyotas). I have purchased 3 new cars in my life, and one used (using > $2,000 as a criteria). All 4 are still on the road.

I noticed a pattern among my cousins, colleagues at my level, and some HS buddies who have "made it." It's like they belonged to some secret society that I was not part of. They drive high end cars, that they bought 2-4 y.o., and have never leased or purchased a new car since graduating college. I always told myself what you did--if I never have any intention of getting rid of a car, then I can justify new. Also, I will put some restrictions in place--finance no longer than 3 yrs., and put minimum 50% down. This way I'm not going to get anything I cannot handle.

I bought the 2006 LS430 in 10/16 used, with 81k. I have a spreadsheet that shows by % based on time, and mileage, what stake of ownership in its life I have. It's going to increase rapidly by mileage, not time, as I am the 3rd owner. Since purchasing the vehicle, only 1 thing went wrong--two left corner park sensors went haywire, work sometimes, don't work most of the time. Got eBay replacements at $14 ea, have not installed yet. This is a very sweet "knock-around" car, but super boring to drive. The brand new LS imho would be no different. Whether this car has 40k 60k 80k 220k likely makes no difference, it's going to go and go and go. A youtube was posted where a 1996 had 983k.

Once we want something "exciting," that's where the fun and choices begin. And after this long thread that likely will never end, I do not think a person who truly wants a S class needs to feel intimidated. They just need to understand the car will likely need some maintenance that is above and beyond the Lexus set it and forget it. But as mentioned, a 2015 CA S550 CPO in the high $50's with 20's for mileage? C'mon now, that money is so much better spent on the S550, than a Lexus, imho.

 

yes you can save a few thousand by buying 'lightly used' because of steepness of initial depreciation in most cases. in the end it's about whether the differences between a used one and a new one are of value to the buyer or whether they care that it was driven by someone else. for me, every time i've bought a car, an older one didn't have features or design that i wanted so i wasn't interested in used.

sounds like you can handle most anything but it's what you're comfortable with.

while your 12 year old LS may keep 'going and going', it's still a 12 year old car - not knocking your choice, as it's working for you, but have any suspension parts been replaced? are the seats worn or kinda 'flat' now? does it have a 2006 nav that can't be upgraded now? doesn't bother you that it most likely doesn't have bluetooth, doesn't have blind spot monitoring, adaptive cruise, and many other modern features?

the 'intimidation' mentioned in the OP isn't about maintenance costs, it's about whether one is intimidated to get one because of the image the car may make others have of the owner.

 

Conclusion, for those who are interested, no need to feel any intimidation whatsoever, if that's all we were talking about this whole time. Would I feel a bit off getting into a La Ferrari? Yep, like a fish out of water. 10 yrs. ago I was ripped, but a friend asked me to go to a muscle head type of gym to meet him. I felt uncomfortable. Is that what we wanted to know with the S?

But a S550? Not at all. And I've now concluded it is also worth its price, new, or used, but for me CPO is more attractive. Why pay for that "new car smell," done it 3X, and it doesn't mean much today. Like the guy I met at a Porsche event stated, he's had 5 911's, 2 brand new, 3 used, and he felt from his experience, 5 y.o. is the sweet spot. Why? Price, and the fact that many are not daily driven, i.e. very low miles.

Are you asking me about the LS430 generally speaking, or did you previously own one? By 2001 it already had some of the features you mention (just how new do you think bluetooth is lol). For example, if I said a Japanese shop pressed out and in new LCA bushings, where is that going as far as the S class discussion...I'm missing something. Nav, doesn't everyone use their phone today (even the Grand Caravan had a Garmin with high res but it's going to waste a lot of time not knowing the best route at any given instant)? I'd be perfectly ok with a 2015 S550, I don't even need to know what a 2019 has, because it looks like an awesome car and for that price? Worth it.

 

from OP:
(emphasis mine)

thread isn't about buying new or used although we've been there and done that now.

ha. looks like the 2006 was the last year of the 2 gens ago version. found this interior pic:

followed by the next get in 2007, quite different


the 2006 you have is no doubt a serene and soft magic carpet ride, but still, to me, no disrespect, i'd be uncomfortable driving something now with that comically small center screen. not picking on lexus either, i would feel just as uncomfortable driving a 2006 s500 with its dinky screen, horrible interface/buttons:


i'm missing something too as i have no idea what you're asking.

2015, yeah - 9 years (from '06) makes a yuuuge difference. i could live with this, if cpo:

 

^^ That's a stunning interior in that 2015.

 

Generally when they appraise car's value first thing is production year, mileage, how the vehicle was used(as a taxi, police squad car, rental, etc.), what options....
Also most depreciation occurs in first 3 years of ownership. My idea is getting carefully picked 2-3 year old CPO vehicles. Exception is wife's, she does not like any used car.
Then she keeps hers for long time. We don't have any problem when we sell our old cars. We always keep them in original condition with good maintenance when needed,
keeping them spic and span clean. Very seldom we make trade-in on a new car.

 

haha I get what you're saying, the screen in a LS430 is most certainly outdated. Even my wife's 2011 GM, the nav screen is low res--another test? What is displayed with XM. On older screens the info is cutoff, doesn't have enough characters. But neither my wife nor myself use the factory NAV at all. I will keep it as a map oriented north, so it is secondary to my phone. My wife uses Garmin, just used to it. That has the Garmin Cyclops as well as an online red light and speed cam database, if it's Toronto or DC or NYC, I just like to be aware and get an alert, not like I speed or run lights, but figure be aware...

Total agreement, the '15 is drop-dead gorgeous already. Sure, a '19 will be even more so. But I am so into the '14+, did not know the pricing had come down to under 60 for a CPO. SO worth it!!

A 2013 would save even more--or, delayed gratification will also save some money....do not be intimidated, buy it if you want it!!

 

I haven't had time to sit down and type out the numbers, but I don't see how I could add anything to what Bob has already posted. I just do not see how it can be cheaper to buy a car new and keep it vs buying it used and keeping it. The scenarios you've posted Jill just don't make any sense to me...

 

Fair enough, I did say it depends and I don't think I used the words cheaper, I said you get the whole value when you buy new. However I have asked for some real-world Autotrader examples that can show how you could buy a used car and catch up to a person who had bought a new car after 10 years in the example that Bob gave, this sounds like gaming the system and generally speaking resale values, trade ins, and the overall markets do not work this way on the whole. In theory in sounds good, but I wonder about reality. That said, a used car makes more sense if you want to save money compared to a new car. But depreciation really makes no difference if you were to buy a car and just run into the ground, IMO

 

If you are in the market for a new car, it makes sense to try to buy all of the new tech or safety features one can afford if that is what you want. It is also nice to get the new design and style of the model as well.

There is also a special feeling to buying a new car, you get to be the first driver, new tech, the new car smell, everything is brand new etc etc. I would not want it any other way.

 

All that is valid. But there is a cost to all that newness. Otherwise, nobody would ever buy used.

 

Back to the S class told my buddy my great idea that a '15 CPO can be had for 60k, a bargain....he said dude you're not 82 y.o.! lol Seriously the car in question is in CA and barely has 20k miles, how can that not be a good price that can be haggled down?

Age is not that relevant imho, we all like what we like.

https://www.cars.com/vehicledetail/d...9420/overview/