PLAYTYM

Just want your advice.

I've had my car for sale for nearly two months on our forum, Craigslist, and Autotrader.

My car is a 2013 Lexus GS 350 AWD "Luxury" with 12,000 miles on it. It's still in showroom condition and so on. The sticker price was just shy of $60,000. It NADAs for $52,825, and I'm selling it for $48,000.

I've done a search on Autotrader for all 2013 Lexus GSs for sale within 500 miles of my location. There are only 69 total for sale including a few F-sports, "VERY" few Luxuries, and a whole lot of Premiums.

I found only three Luxury AWD models priced below me:

1. $47,991 with 19,289 miles for sale with dealer
2. $47,500 with 10,031 miles private sale
3. $46,995 with 18,857 miles for sale with dealer

As you can see none are priced way below mine, only one is private sale, and only one has lower mileage.

WHAT AM I MISSING? WHY IS THIS CAR SO DIFFICULT TO SELL???

My thought is that people see the premiums for $4k to $5k less and think it’s the same car???

Thanks for your input!

praetor

Big ticket items are hard to sell like that. Most people who can spend $48K on a car, won't flinch on spending another $10K or so for a brand new model where they get to pick. At least that was with me. I have never owned a used car. I pondered over saving a few thousand on a slightly used GS350 or order a brand new one.

In the end, I got the color combo and options I wanted in a brand new car that I plan to keep for a long time. My $0.02

Joeb427

iTrader: (1)

You're asking too much.
Those are asking dealer prices and those numbers can be negotiated down another $2K-$3K+.

PLAYTYM

...and with the miles they have on them...I agree. I do believe that the one with 10k on it was also private sale.

PLAYTYM

I think you're right! I need someone who doesn't mind slightly used vehicles and wants to save $10,000 from whole sale price. That would be approximately $200 a month in car payment savings buying mine, which might put mine in the hands of someone that might not quite be able to afford a brand new one.

Joeb427

iTrader: (1)

The first year is the biggest loss even if it is a Lexus which is said to have very good resale value.
The good Lexus resale value plays in 2-3+ years.

PLAYTYM

Well...I got to say if I "have" to keep the car another year plus...who's complaining????

Valueguy

For a quick sale in less than 90 days my best guess is your asking price should be $46,500.
I'm sure you will get offers over $45K for your car. $48K is a bit high as I estimate actual value around $47k.

Joeb427

iTrader: (1)

SW17LS

As for lesser prices for the luxury package, thats par for the course. Thats why the luxury and F Sport have lower residuals from LFS too. When they go to sell them resale they don't get much of the cost of those packages back. Yours is worth probably $1,000 more than a Premium. The list prices don't matter, what you have to try and find out is what they are actually selling for...

Other issue is that you cannot offer financing. There are companies that offer owner to owner financing, but its nearly always at a higher rate...which eats into your payment comparison.

PLAYTYM

What did you use for your estimated value? I used NADA and it's values at $52,825.

PLAYTYM

True, not being able to offer financing is an issue for sure! Thanks for your input!

StlGasMan

I think I saw your car on autotrader or something and you were asking 49K. I inquired and you said the price was firm. I bought a luxury with 7600 miles for less. I don't think options are always a good return on your investment on a new car purchase.

PLAYTYM

You may have...it was up there for $49,000. At that point it was firm. Glad you found what you were looking for!

Valueguy

I am assuming you paid around $47k for your car.