Just looked at the web site for Lexus dealer in Salt Lake City and they are selling a 2007 IS 350 with 12,156 miles for $42,890..... Are they crazy or is the used value right on point?

 

Link,


http://www.lhmlexus.com/en_US/frm_in...Search_1.chtml

 

They can ask whatever they want, doesn't mean they're going to get it. Looking at the car valuation sites (Edmunds, KBB, etc.), I actually find the depreciation on a used 2IS a bit higher than I was expecting.

 

That is a dealer asking price so you get them down. Dealers always try to overcharge for used cars.

 

The IS is only a year old, the market is still sorting out the long term values. That is why these stories that the Lexus IS is a good value because it will hold it's value long term are silly. No one knows long term how the IS will fare. It's unlikely, but if some big problem endemic to the IS were to surface a few years down the road (rust problems, engine problems, whatever) the value could be hurt. Looking at used car values a year after introduction doesn't mean much.

 

We tried to trade in the 06 250 in for maybe an 07 and the dealer was willing to give us for 21k max!!!!!!

 

Trading in almost any car that is only one year old will be a disaster as you are getting hit with the maximum depreciation.

 

I saw at my local dealer somebody had traded in an 07 IS250 w/ only X package with only 1,500 miles on it... That would have hurt the pocketbook. I can't figure out why they would have bought it in the first place.

 

You would be surprised at the number of people who trade cars in that are almost new for reasons like, "I don't like the color", "It's too small" or "I'm tired of it". It happens all the time. A waste of money? Yes. But many people have money to burn. Just because you have money doesn't mean you are smart about handling it.

 

that's crazy, I rather buy a new one