Joeb427

iTrader: (1)

Those items don't add value,though.
Maybe frotiss and you can split the difference at $46K.

You probably would get just over $40K on a trade.

praetor

I used Edmunds buying guide BTW. Oh well, I still like the car and will keep it for a long time,

SW17LS

But it will never be worth more than it is right now.

I think you are suffering from what I call "seller syndrome". You think yours is worth more because of X, Y and Z when in reality those things add very little to nothing to the value. We've determined the luxury package is worth book $500. The weather liners are worth $150 new. The Paint protection is worthless, as it is in reality a worthless product, remote start is $200 maybe. A custom Lexus overnight bag....huh?!?

I'm in the real estate business and we see it all the time, we call it the seller who thinks his house is worth $25k more because it has the "upgraded nails".

I think you need to either decide to sell it, or decide to keep it. If you want to sell it, you have to accept what the market will bear or it will not sell, like anything else. If you are going to keep it, stop trying to sell it and enjoy it.

williakz

Great points, Steve. The reason to get the "goodies" on a vehicle is because YOU will enjoy them. You'd better love them, because you're going to be giving them to the next owner for FREE. Like some other posters have brought up, if your goal is maximizing value at minimum cost, you'll never see a dealer except drunk in a bar. On the other hand, if you're buying new, you're overpaying almost by definition; you may as well overpay for something you like because nobody else will give you 5 cents for it.

Valueguy

When I traded in my wife's 2011 RX 350 for a new 2013 version (same options) I asked about the value of the custom $300 pin stripe I added to her 2011 RX350. Guess what I was told: zero.
I didn't even get 5 cents for it. So, the 2013 version has all the same options except the pin stripe.

My point is that some options add zero value to the trade or sale of the car while the other options maybe add a grand at best. But, we enjoy those options so I still got them on the 2013 with the understanding they are worth next to nothing when I trade again.

williakz

But you LOVE pinstripes! Why on earth would you drive a vehicle without them? Some people simply cannot understand the obvious.

The value of the pinstripes was NOT $300 and it was NOT zero! It was the smile on your wife's face every time she saw her beautiful pinstriped RX in the parking lot when she waltzed out of Saks. This time, you saved your $300, but that smile and pride of ownership has been diminished to some degree. You (and your wife) are the only ones who can determine whether your decision was pound-wise or penny-foolish.

As for me and my house, I'll pay the three bills any day of the week. That's my calculus.

SC2JZ300

iTrader: (8)

I think what some if not most dont realize is oncce you drive ANY NEW car off the lot it immediately it loses value.

Valueguy

We don't miss the pinstripe. But, my point was most options don't result in a significantly higher resale and some aren't worth a dime when you sell

mso4

iTrader: (1)

I purchased my F sport mspr 58k+ for slightly under 52k. So from a buyer's perspective a 60k msrp car is really 53.5 today. Hence you have to start with that price as a brand new car with potential low interest and leasing options. Not to mention the freedom to choose your options, colors, etc... Buying used you have neither. So your price has to be low enough to justify this inflexibility.

I've sold 2 of mine and helped sell 2 other cars in the past 6 months. One sold within 1 month and the other three within one week. Some of the buyers mentioned that they liked my ad and that's why they came to look at my car. Quality pictures of the interior, exterior, and even engine will increase your chances of selling by making your ad more complete.

From the psychology of buying and selling. You must be flexible with the price in order to give the other party the idea that they are getting something for a great price. One way of doing that is by posting an asking price that's high enough to allow for this negotiation. Buyers will always want to buy something less than what you're asking for. So if you want to sell it for 47, you need to ask for more maybe 49.9 and allow the price to come down to 47.

In my experience if you're asking 47 you will never sell a car for 47. If I'm asking 47 and a buyer offers 45 I will say let's split at 46. Why let 1-2k prevent you from closing a 45k deal. It's not even 5%. If they say no then offer 45.5. If a buyer is willing to offer 45, they want the car and will not walk away because of $500.

If you're selling anything above $20k. Give yourself 1-3 months. Not a lot of people have that kind of cash so just be patient. Finally, put your car on auto trader, pay for the premium listing, and pay for the option to put up as many pictures allowed. You want as much exposure as you can. Craigslist is ok but not the best. I got more response from autotrader then from CL.

Good luck with your sale.

PLAYTYM

I just wanted to thank you all for bringing me back to reality. When I purchased my car I paid the extra $8000.00 in Lux options because I knew I'd be keeping the car forever. Famous last words, right?

Turns out my wife and I have decided to have a third child and and that will require building a new house with more bedrooms. By selling my Lexus and buying an "Avergae Joe's" car, I can use that extra cash to get the new house done.

So, life is life and I've excepted defeat, tucked my tail between my legs, and offered my car to "frotiss" for $46,000. He had offered me $45,000 before, but hopefully we can both come to see the same ending. I lose way more money than I had hoped and he wins a beautiful showroom condition Lux GS!

I'm sure we can all agree that $46,000 is certainly a fair price!

Again, thank you all!

Valueguy

Agreed. $46,000 is a very fair price and Frotiss should ****** it up.

2013F

I'm a little confused about the $45k offer. You were offered $45K cash and turned it down because you felt you could get $47K? I would have taken that offer rather than keep going through all the hassles of showing the car and watching it depreciate, just to try and get $2k more than what was offered. I think if you can afford a new lexus, the $2k is not a loss, but rather frees up time to pursue other interests, rather than be tied up with appointments for people viewing the car. This is just my opinion.

kssod

You should go to Autotrader and accurately and honestly rate and value your vehicle. You can then take that certificate to a Autotrader dealer and they should cut you a check for that amount. I do not believe it is necessary for you to buy a new vehicle from them.
I traded a MDX on a new one and they low balled me. I presented a Autotrader value, they went through the steps to verify and gave me that amount.
Used car manager told me that auto trader pays them that, so it is an easy deal.

Joeb427

iTrader: (1)

An Autotrader or Carfax dealer will give you less than $45K.
How much can they ask for it if for when Lexus dealers are asking $47K for the same car CPO'd and that number can be haggled down.

SW17LS

My experience with the Autotrader and Carfax dealer offers were that they were quite low.