hhss

iTrader: (1)

I'm currently on the fence if i should sell my 08 LS600HL. I love the smooth ride/power of the hybrid and I feel that I will miss it and nothing can replace it aside from another hybrid

I'm trying to get myself into a newer home at the moment and my thoughts are I can sell the LS now while I can still get a good return then later down the road buy another one. Winter is around the corner and I will be parking the LS which is pushing me to sell the car, I don't need to sell it but it would definitely help me get into a new home faster. I'm mainly worried I won't be able to find another hybrid(2013+) down the road as they're pretty rare. Mine is the only one on the market in western canada and I've yet to even see the 2013+ in person or on the market.

Just thought I'd ask everyone for your opinions as I really don't know what to do right now

dlbuckls10

Go for the newer home and sell the LS600hL. A newer home will go up in value the 600hL will continue to depreciate. If you can't find another 600hL in your area you can always have one transported. The LS 600hL is the finest automobile Lexus offers and there are many of them still for sale when you decide to buy another one.

roadfrog

Unless selling it substantially helps out with the house, I'd be inclined to keep it. I'm not sure what financial situation you're in, so it all depends. For me, selling my car to save a couple of bucks a month on my mortgage payment would make no sense.

R Z

Not necessarily.

Lextrician

agreed if you get a home with equity in it already then you can make that statement. I would assume that if you are purchasing a house you would try and get it for below market value but with my situation it is sellers market with homes flying off the market within a few days depending on the location, I am also understanding that selling your vehicle would help you for buying a home if you are using it for a down payment, i am assuming you own the vehicle because you stated sell. But I dont know i think you should keep it if you can afford to do so.

hhss

iTrader: (1)

I own the vehicle so no payments for me. I also own a rx450h which will be my daily driver in the winter.

Nospinzone

My opinion is if you really don't have to sell the car, then don't. You will take a tremendous depreciation hit on that car. From this point on the depreciation will be minimal. Since you plan to buy another hybrid "down the road", what better hybrid to own than the one you have owned?

rxonmymind

Man you have a "heavy". Like they say, once you've been to the top of the mountain....so keep it.

jainla

Not sure what the situation is like in Canada but in the US 600h sales fell off a cliff in 2009. Post 2009 models are very thin on the ground here. There are only 30 car for sale at any given time in the ENTIRE COUNTRY.

If you let it go you'll either end up buying an (older) 2008 that you don't have service history for or buying a more expensive newer model (and then you'll have less selection). Or ordering a new one.

Unless you absolutely need the money I'd say keep. But obviously you have to do what's right for you.

cerbum

If selling the car means you have your downpayment in hand for the house, then sell the car. Can't say enough about having paid off vehicles, especially somewhat rare ones... but housing comes first.

Unsober1

Which one do you think is a better investment? You can't own many cars for a few years and sell them for more than purchase price. But I believe a house you sure can.

wanderer99

If you still like the 08 600hl and it's paid for, I'd keep it. For those who don't know, the housing prices in Alberta have been dropping quite heavily for over a year now as the economy is largely tied to the oil industry. The 600hl might depreciate say 4K a year at this point from it's current value. The house might depreciate another 5-10% in the coming year which is probably way more than the 600hl depreciated, depending on the value of the house of course.

So based on that I'd consider keeping the 600.

hhss

iTrader: (1)

Thanks everyone for your thoughts and input, I've decided to keep the 600.

roadfrog

I doubt you'll regret it. Good luck with the new house.

Lexuslsguy

Sell it. The home will be a much better investment, imo.