I just posted this in the 2IS section as well, but I figure it wouldn't hurt to post here too since it's relevant:

Anyways, I currently have a 2010 IS250 6MT. I lease it through TMS so I get their killer lease deal that includes insurance (my dad works there so I'm lucky enough to get it through him). However, he's going to retire soon and I'm going to lose the lease deal.

The original plan was just to buy the car, but I've had a series of unfortunate events over the past year and a half that may have derailed that plan. A brief history:

I got the car new in April 2010. All was well...

Unfortunate Event 1: I got rear-ended by a huge F150. It was bad enough that the Lexus enform automatically went off (on-star equivalent) to see if everything was cool. I was OK, but the rear end was destroyed. Estimated damage was around $13-14K if I remember correctly.

Unfortunate Event 2: About a year later, my co-worker hit my car while it was in the parking lot with his early 2000 model year 4-Runner (featuring the metal bumper since it was 4WD. lucky me). This one hit the passenger side front axle/quarter panel area. Now, this doesn't sound bad since it's a parking lot, but he basically gassed it right into my car, so it kind of rode up above the wheel well and around since his 4Runner sat high and the IS is pretty low (I have pictures of this one). Damage was around $10K.

I've had the car for a little over 3 years and only have around 35K miles on it. If I were to buy it, I would pay $21K. Is it worth it despite the damage? I haven't had any issues since the last accident which was in April of 2012 and it seems to drive OK.

I know the 6MT isn't particularly common, but does anyone know of any foreseeable issues that I may not know of yet? If I don't get this car, I will go with the 3IS F-sport, which will obviously be considerably more expensive.

The $21K that I would buy my car for would be the same amount I'd put on a down payment if I were to go with the 3IS, so it obviously makes financial sense to just buy my car since it'd be paid off. However, I don't want to run into any problems down the line that I should have seen coming...

WHAT WOULD YOU DO?!

Thanks in advance guys!

 

I'd sell it. Car has sustained damage that cost more to fix thn your car is worth. Repairs could cause you problems in the future.

 

No way. Get rid of it. It seems like it's bad luck anyway.

 

I would dump the car as well. With that mount of damage and repair, keeping it long term could end up being an absolute nightmare.

 

I tend to agree with the others. You risk having electrical glitches and abnormal mechanical issues down the line. It sounds like the car is practically entirely repainted which will not last as long as factory-baked on paint.

Also, if you're one that can't tolerate squeaks, rattles, and other noises, that might get to you eventually and you'll want to get rid of the car in addition to unanticipated issues that may come. At that point, you'll have a difficult time getting a buyer or you'll have to sell it really cheap.

 

I would either sell it or try to trade it in for a newer model, go for the 3IS.....

 

Since you dad knows the dealership that you got the car from I would ask them how much they would give you for it. If it is more than the buyout use it as a trade and roll the postive equity onto a new car and get out of it and make money doing so. If they are going to give you lets say 25k the payoff is 21k use that 4k as downpayment on your purchase or lease a new one.

 

Well, I didn't get it from a dealership. He actually works at corporate, so it's a special lease through them that includes insurance (zero down, no mileage limit, all service included, etc.). I got to configure the car before it was built.

Basically, 21K is a pretty good deal for a relatively new car with only 35k miles, but it's probably not a good deal when you factor in all the damage (they won't bring the price down despite the damage...I already inquired about this).

If I were to buy it, I would be gambling that any of the damage sustained in the past won't re-surface again in any way, shape, or form. I took good care of the car, but my string of bad luck negated that and I don't know how it will affect it in the future (electrical or mechanical problems, etc.).

I've already committed myself to spending that 21K on something car related. I'm just trying to figure out whether or not it should be to pay off my car despite the previous damage, or use it as a down payment on the 3IS and have a car payment again...

 

When is your dad going to retire? Hurry up and have your dad order a new 3IS through the associate purchase program and turn in the current car.

It's a 3 year old car. I would not spend $21K on a used car that has been in 2 major accidents. I would turn it in and walk away from it and use the $21K that you have on a new 3IS.

Your dad can get a good deal on a new one. Around $3,000 under INVOICE for a new 3IS. You need to have all the cash up front or arrange financing on your own when you purchase through the program but it's worth it to get a car for that much under invoice.

Catch is you can't sell it for a year and if you back out of the order you have to pay a $500 penalty. That's what I would do.

 

Why don't you take it to a Lexus store and see how much they will give you for that car. If it is more than 21k you can buy and make use the difference. Than your dad can have Lexus corporate tell Lexus (dealership) to sell you a car for a certain price.

I had done numerous car deals for Corporate folks and everything was done when corporate called the dealer and said he is the deal for you.