Just checked the value of my 2022 IS500 on KBB.com, which I know is a joke to dealers, but still fun to do. It's a solid $3-4k more than it was several months ago. Anyone else getting the same thing?

 

I think Car & Driver valued mine at $72.5k for private party... it honestly made me entertain putting aaaaall the equity into a Blackwing But that idea is over already.

 

I can't even check the KBB value on mine. It says my VIN was not found, and when I select 2023 as the model year, I can't even select "Lexus" as a make.

 

The used car market is so weird! I was browsing the used 2022 Chevy Sparks on the weekend and theybare selling for 24k to 27k here and this is with about 10 000 km on the odometer! How can something sell for about 6 to 10k more than what they sold new?!?

 

On a Spark I have no idea as I would assume there is availability. On an IS 500 I still don't know how a used IS 500 sells for more than sticker when a new one with zero miles is available at sticker. I guess maybe if someone is willing to take it up the rear without lubrication that is their call but I would not do that. I have never paid over sticker thankfully.

 

The used versions aren't selling over sticker and I personally don't think that the dealer intends to ever sell them either. For now they'll be treated as halo cars and continue that way as long as enthusiasts continue to esteem them as such. For all we know, in 15 years some kid without much knowledge in cars will see it sitting on the sales floor and ask his parents why an old POS car has a sticker price of $60k. Then he'll see Fast and Furious 20 and learn of the relic that is the IS500.

Much like I experienced with the Supra in 2009.

 

I chortled at this LOL off topic but the new "FastX" just reminds me of GasX

 

I told myself If I ever decide to trade-up again it will be a G80 M3 Competition.

 

I had a G82 M4 Comp Xdrive, and it was the shortest lived car I ever owned, and one of my least favorite cars I ever owned. I will openly admit that I got sucked into the marketing hype and bought it against my better judgement.

I also had an F80 M3 for 3 years if you want a comparison.

Unless you are a track rat, you aren't missing anything. The only saving grace was the insane market in 2022 which allowed me to sell it for a bit more than I paid for.

YMMV, of course.

 

^^ I don't keep cars for a long time usually a year. I would probably keep the G80 for a year then move onto something else.

 

Why did you not like the G82?

 

Until just now I haven’t done it. I’m not looking to sell, so it wouldn’t have crossed my mind.

The Trade-In value is $1500 over the MSRP paid and the Private Party is $500 over the total paid. (MSRP + Taxes/Registration)

I’m kind of surprised the numbers aren’t lower as I’ll hit 13K miles soon. This will not be a low mileage car! 😈😎

 

Was curious and put in my car’s info to vroom and carvana. Mid $50’s for a LE lol. Don’t understand the lowball with those.

 

Used car prices are lower than last year but in the past 2 months are stabilizing and going slightly up again. The real story is that there are two different trends. 2020-2023 car prices are going up because they never made enough new cars to have now enough supply of used cars and many lease holders bought their cars so they are not in the market. Older vehicles are more balanced between supply and demand and especially before 2017 where banks do not easily finance them, they are usually not leased and are mostly cash sales the prices are going slightly down.

Anyway, 2020-2023 Covid cars will likely stay higher for 2-3 more years.