I was just checking out the trade-in estimate by Edmunds for my 21' Convertible.
Am pretty astonished how quickly the values dropped over the last year, especially last months. Yes: high interest, new 24 model etc etc. Still......
And it seems to check out as the cheapest non-accident Convertible with similar (~20k) miles is available for $76k.

Makes a great used bargain, painful for owners. Hoped these would be a bit different to the German luxury brands.

 

The pandemic and manufacturing disruptions seem to have subsided and the car sales market is returning to more traditional patterns of depreciation.

 

are you planning on selling yours? if not, don't worry and enjoy!

 

As someone who has been looking at availability for nearly a year on almost every car site known to mankind, I tend to agree that prices seem to be softening a bit and there are definitely more 2020's and 2021's available. The reasons mentioned seem plausible...the 2024's are out and the market has shifted to a more typical depreciation curve. The 2020 LC I am trying to get my hands on is only a "fair" value. But, the interior/exterior color combination and features are exactly what I want and uncommon..so I am OK with not getting a "great" deal price wise.

 

Most cars will drop, except for limited production models.

At one time the 458 was around 150k Canadian and they are now back up to 240k. Same with the LFA, they used to be under MSRP and sat on lots unsold for years.

Same with the integra type R (used to be able to get one for around 20k), original NSX (30-40k was the lowest ive ever seen them at), or even the MK4 Supra (30k)

Its not unusual for it to drop down and then stay flat for a while before climbing up. In our LCs case, i think the value will jump up when they announce its eventual end in production

 

The LC isn't special enough to avoid a used car depreciation curve--its the low miles of most LC that creates the smaller drop than a standard vehicle driven 12k miles per year.

I can't ever see selling my 2021 LC vert--I have 23 more payments at 0% til I own it outright and it's just so fun.

 

Bought my '21 convertible new for MSRP ($112K), traded it in with 7K miles last October for $78.5K, the dealership sold it for $81.5K. Denver in winter isn't a great place to try to sell a RWD convertible.

I bought a bespoke '24 convertible in the new ultrasonic blue color, that's the whole reason I swapped from '21 to '24.

The depreciation you're seeing here isn't out of line for Lexus vehicles from new. I've been shopping off-lease GX's for years and it's the same thing, they sell new in the mid $60's and a bunch of them are $40K or less three years later without a lot of miles. The difference between Lexus and the Germans is that the Germans keep depreciating at that fast pace, where the Lexus vehicles start to plateau around where they're viable competition for new non-luxury Japanese products. The unique cars -- GS-F, IS-F etc -- usually have a hard plateau around $40-50K because people aren't as scared of them used as American or German counterparts.

The LC will continue to depreciate for as long as you can buy a new one. Once they stop making these cars, if they start making a new car that is considered to be "better" then they'll continue to depreciate. This is unlikely, the beancounters at Toyota / Lexus hate these limited run cars with low sales. They'd much rather sell hundreds of thousands of RX's and Camry's than sell 1700 LC's a year (2023).

And even if they do make a new LC competitor, it will have less displacement, turbos, hybrid drivetrain etc. It might be better on paper like the new Land Cruiser -- formerly a 5.7L V8, now a 2.4L turbo hybrid 4-cylinder -- but it won't evoke the feelings that the exhaust from the LC does.

So yeah, depreciation is bad right now when you can still buy them new, but unless Toyota / Lexus start acting in a different way than they ever have before, it'll be ~20 years until they make another car that would be considered comparable. The last car comparable to the LC500 that Toyota built was the Supra. There are already more LC's -- more than 12,000 in the US -- thank Mk4 Supras, even though non-US sales of Supras is about triple that number. There are under 10,000 gen1 NSXs, so the LC exceeds that already. But if Lexus goes for 3-4 years past the 2024 redesign at roughly ~1500 cars a year that still puts them in the mid 10,000's for production count. Not common but not LFA rare.

The LFA compares on a few elements -- great sound, not the fastest for the money -- but has greatly limited supply which has caused the demand / prices we've seen. Which, in my opinion for long-term collectability, puts the LC500 more in Supra territory than LFA territory.

 

when I was looking for "new" Lexus LC even the 22s were in mid $80swith 20K on them....I just spent another $20K and got a new one...takes time but 4 years warranty.

 

On the same site mine showed up as $85k , but mine is 21 and 5k on it. And I don’t care because I love it and gonna keep it till my back allows me to seat in it my wife loves it as well so it is a keeper.

 

I considered the same for similar reasons including the warranty...buying a new 2024 vs. the 2020 I am very close to getting. But, I really like the color combination on the 2020, not a big fan of the 2024 wheel selection except for the Inspiration model, and just one dealership in HI can be a challenge. Each buyer's situation is unique and one ends up going with what they feel is best. Hope the 2024 works out well for you.

 

wheels can be had for some $$, whatever floats ur boat.

 

Enlightening

 

The best quote I've seen for the Inspiration wheels is $12,700...
Moron parts idiot at Melbourne Lexus, with a straight face, quoted me $20,000.
Bruce in Melbourne

 

$5700 each for the fronts - https://parts.lexus.com/p/Lexus_2024...2611WY450.html
$5800 each for the rears - https://parts.lexus.com/p/Lexus_2024...2611WY460.html

I think the upgrade cost for these over the stock wheels during the bespoke process was like $2700?

Toyota has had a number of "special edition" wheels over the years that you had to have a valid VIN number to order, not sure if Lexus will do the same thing with these wheels. At ~$20K / set there shouldn't be much of a problem of people buying them all up.

 

^^^^f you like the Those wheels they are available in the aftermarket from Vossen. Either Flow Formed or Forged. I run Vossen and am very happy with them:

Flow Formed (modified cast)




Forged




Forged




Right now, I have The Flow Formed wheel and have the third pict (Forged) on order.

Edit - Vossen Has many other styles of wheels either Flow Formed or Forged to choose from.