LS460 Values Nosediving
Pole Position
Joined: Jun 2018
Posts: 2,422
Likes: 220
From: Ontario
Thread Starter
Pit Crew
Joined: Oct 2013
Posts: 142
Likes: 63
From: Florida
did you buy a new or almost new LS? I’ like new things but after 2 new cars I’ve learnt my lesson. If you want new things all the time, lease.
I buy my cars without financing and taking a 40% hit in 2 years like I did with my Infiniti is no longer palatable for me. If you intend to keep the car forever or over 10 years it isn’t that bad.
The previous owner got the car new from the US back in late 2006 or 2007 for 96,000, with shipping, taxes etc it is probably over 100k. I got it for 16,500 (import taxes are high here) divide that up over 10 years etc that’s at the very minimum 700 a month depreciation.
So why would I want to do that? Let someone else take the hit, there’s really no value in having a brand new car.
no I bought a low mileage 2013 LS-L back in Late 2017.
Instructor
Joined: Aug 2013
Posts: 1,211
Likes: 233
From: Nebraska
I've been saying for 3 years that by far the biggest expense associated with a Lexus LS (or really any luxury car) is the insane depreciation! The cost of repairs, maintenance, warranty, etc. pales in comparison to the pretty much guaranteed plummet in resale value. This problem has only gotten worse as luxury sedan sales have tanked! We spend all our time on this forum wringing our hands over the very slight possibility we may have to spend $5k to replace the hybrid batteries in the LS600 after 8 years/100k miles, while the "elephant in the room" (depreciation cost) stomps all over us as we obsess over the small maintenance costs.
On the bright side, if you're a buyer today you can take your "pick of the litter" for amazingly low prices, just as long as you realize what seems insanely cheap today will be WAY cheaper next year.
I honestly think there's a nice "sweet spot" for the LS where you can get an amazing car for a fraction of the depreciation others deal with. For me, it was my 2010 LS600hL, which I bought for $27.5k last year. I bought a 6-year comprehensive warranty from CNA, and have decided that I couldn't care less what happens to resale value for my car. I'm driving the epitome of Lexus engineering - a car that stickered for $127k 9 years ago - and I'll be coddled by this car for the next 6 years. If it's worth $0 when I'm done with it, I still will think it was worthwhile (total depreciation cost will have been $400 a month in that scenario). If it's worth $5-10k at that time (more likely), that will just be icing on the cake!
You'd have to be truly crazy to buy a brand new LS right now, in my opinion... Although I suppose if you planned to keep it 10 or more years, the same lack of concern with depreciation would kick in...
On the bright side, if you're a buyer today you can take your "pick of the litter" for amazingly low prices, just as long as you realize what seems insanely cheap today will be WAY cheaper next year.
I honestly think there's a nice "sweet spot" for the LS where you can get an amazing car for a fraction of the depreciation others deal with. For me, it was my 2010 LS600hL, which I bought for $27.5k last year. I bought a 6-year comprehensive warranty from CNA, and have decided that I couldn't care less what happens to resale value for my car. I'm driving the epitome of Lexus engineering - a car that stickered for $127k 9 years ago - and I'll be coddled by this car for the next 6 years. If it's worth $0 when I'm done with it, I still will think it was worthwhile (total depreciation cost will have been $400 a month in that scenario). If it's worth $5-10k at that time (more likely), that will just be icing on the cake!
You'd have to be truly crazy to buy a brand new LS right now, in my opinion... Although I suppose if you planned to keep it 10 or more years, the same lack of concern with depreciation would kick in...
CL Community Team
Joined: Mar 2007
Posts: 4,264
Likes: 481
From: MA
Yes, it certainly seems like large luxury 4 door sedans are falling out of favor. I have no intention of getting rid of my LS, but when I do I do not intend to replace it with an LS, A8, 750 nor S550, all models I considered when I bought this car.
Racer
Joined: Nov 2017
Posts: 1,586
Likes: 279
From: Ohio
Last week I again cast about for a '13 to '15 LS 460 L and found 2 of interest. One was a two owner black/black '14 AWD Ultra Luxury with 100K for $26,000 at a high-line Florida used car dealer. It had a spotty documented maintenance history. The other was a just traded one owner '15 red/flaxen RWD with 41K at a Houston area Toyota store for $39,999. It had a great service history. In both cases, the posted ad photos were of dirty, non-detailed vehicles. Both were accident-free.
Both sold within just a couple of days, so people are buying and, perhaps, a pricing equilibrium is now being achieved.
Both sold within just a couple of days, so people are buying and, perhaps, a pricing equilibrium is now being achieved.
Last edited by TriC; Mar 11, 2019 at 09:36 PM.
Driver
Joined: Sep 2016
Posts: 153
Likes: 34
From: OK
When a new generation comes out for any model it makes the previous drop in value. People like to drive the most current model and since the 460 didn't change much from 2007 to 2017 it stayed fairly relevant. The 500 changes all of that. Couple it with normal luxury car depreciation and the SUV/truck craze and the drop is fairly significant.
I went through this dilemma before purchasing my 460. I could, and have, leased/bought any number of luxury cars, however depreciation really isn't the smartest way to use money even if you have it. I use my 460 for a 26 mile round trip commute and sometimes wish it had more modern tech, but honestly complaining about a 2012 LS is a first world problem. I just hope there are plenty of current buyers at the $70-100k price point so we have the option to purchase a 500 in 3-5 years for a huge discount.
I went through this dilemma before purchasing my 460. I could, and have, leased/bought any number of luxury cars, however depreciation really isn't the smartest way to use money even if you have it. I use my 460 for a 26 mile round trip commute and sometimes wish it had more modern tech, but honestly complaining about a 2012 LS is a first world problem. I just hope there are plenty of current buyers at the $70-100k price point so we have the option to purchase a 500 in 3-5 years for a huge discount.
Pole Position
Joined: Jun 2018
Posts: 2,422
Likes: 220
From: Ontario
When a new generation comes out for any model it makes the previous drop in value. People like to drive the most current model and since the 460 didn't change much from 2007 to 2017 it stayed fairly relevant. The 500 changes all of that. Couple it with normal luxury car depreciation and the SUV/truck craze and the drop is fairly significant.
I went through this dilemma before purchasing my 460. I could, and have, leased/bought any number of luxury cars, however depreciation really isn't the smartest way to use money even if you have it. I use my 460 for a 26 mile round trip commute and sometimes wish it had more modern tech, but honestly complaining about a 2012 LS is a first world problem. I just hope there are plenty of current buyers at the $70-100k price point so we have the option to purchase a 500 in 3-5 years for a huge discount.
I went through this dilemma before purchasing my 460. I could, and have, leased/bought any number of luxury cars, however depreciation really isn't the smartest way to use money even if you have it. I use my 460 for a 26 mile round trip commute and sometimes wish it had more modern tech, but honestly complaining about a 2012 LS is a first world problem. I just hope there are plenty of current buyers at the $70-100k price point so we have the option to purchase a 500 in 3-5 years for a huge discount.
Pole Position
Joined: Oct 2014
Posts: 2,561
Likes: 365
From: New Hampshire
Like others have said, the SUV and truck market has killed the sedan market. These trucks and SUV's have come so far in terms of refinement, gas mileage, comfort and performance that it's ridiculous. When I traded in my LS460 for a truck the salesmen asked me on the test drive...so how is it, how is it compared to your Lexus? And at first I was like...you crazy? But damn the truck was just so smooth and quiet. Not an LS, but these trucks and SUV's are very much enjoyable and dynamic commuter vehicles. I'm getting 24.5 mpg in a full size pickup truck (V8). That wouldn't have been possible ten years ago.
If I was in the market for a sedan right now, the 2013 and up, LS460's are quite a bargain. My wife needs a new vehicle...tried to talk her into the LS460 but she won't budge, she wants an SUV
If I was in the market for a sedan right now, the 2013 and up, LS460's are quite a bargain. My wife needs a new vehicle...tried to talk her into the LS460 but she won't budge, she wants an SUV
Pole Position
Joined: Jun 2018
Posts: 2,422
Likes: 220
From: Ontario
Pole Position
Joined: Oct 2014
Posts: 2,561
Likes: 365
From: New Hampshire
True but then again, I might go a week or more without seeing a single LS460 on the road. I have seen only one LS500 since they came out and I don't expect see many more.
Driver
Joined: Sep 2016
Posts: 153
Likes: 34
From: OK
The 500 more than doubled (2017) 460 sales in many months for 2018. Stands to reason a new model will be hot for awhile, the real question is how it sustains. It will be interesting to see if the 500 sells in the same quanity as the 460 long-term or it gets crushed by SUV sales.
http://www.goodcarbadcar.net/2011/01...sales-figures/