I bought my NX 350 (premium turbo) back in December 2021 for ~$52,000 ($48,500 MSRP). Long story short, while I like the car and the ride comfort is great, I'm now looking for something more performance oriented. I've also had quite a few tech issues, most of which have been resolved by buying a new phone. I've been looking to trade-in/sell my car, but the highest quote thus far is ~$36,000. The car has 10,500 miles. In less than one year and a little bit over 10,000 miles, this car has depreciated by more than 30.0%. I'm stunned by this. I thought Lexus' were supposed to retain their value and new/used car prices are still very high (though they have come down a bit).

 

The last couple years have been very odd. I wouldn't consider it normal.
This summer I sold my RC350 F-Sport back to the dealer I bought it from at only 15% less than I paid 4 years ago. That's 85% retained value in 4 years. Also not normal.
I know a few people who were offered more for their used car than they paid for it a few months earlier. That was earlier this year when there was a major shortage, and some people needed a car more than their cash.
I expect most of us that are paying at or above MSRP to experience a lot of extra depreciation once the supply chain issues are resolved. Things will probably eventually return to normal with some persistent inflation effects.
I've seen much speculation that used car prices are going to return from bubble highs to more normal levels soon. Who knows when though.

I am a little surprised you aren't seeing better offers at this point though. Seems like there is still high demand. Even for used. I'm curious if there are people waiting in line here that would jump on that?

We jumped on a used, but it was the 450h+ that has different availability.

 

Those are trade in prices from dealers and carmax, right? Sell it private. you will get a much better pricing. What you got from dealers arent market value.

 

You can't compare retail (what you paid with ADM seems like) with wholesale (quote you get from trade in)

 

Curious what are you going to replace it with ?

YMMV,
MidCow3

 

Also depends on where you received your quote from, as in this market it looks as if they are trying to lowball you. Try Carmax, Carvana, Vroom, etc. and see what they offer.

 

I agree with Carmax. They quoted me 2k more than my Lexus dealer when I traded in my UX. Lexus price matched what they offered. My UX hybrid had 10,500 miles and it was a year old. I wasn’t out of pocket much when comparing the quoted offer and my purchase price. I’ve heard that Carmax has been giving higher offers for used cars than my local dealership.

 

So your MSRP was $48,000? What was the selling price for the vehicle? If your getting wholesale offers Of $36000 and you paid msrp then your depreciation would be 25%, the first year will always have the highest depreciation, which is due to many factors, but certainly the dealership needs to pay much lower than what they can buy another new from Lexus right now. And since they are going to recondition it, and tie up their money in it til they sell it, and since the person who buys it, would probably have bought a new one from the dealership as an alternative this one, they need to be able to offer a discount large enou to motivate someone to choose it over getting the exact brand new one they had in mind, and the dealer has to make a larger profit on it than what they would have made compared to a brand new one, I would say 25% is the minimum depreciation you’ll find on a $48,000 vehicle. The deal didn’t call I outta the blue and solicit you to sell it to them cause they have a customer already who really wants a vehicle like yours, or it’s at an auction and they chose it outta 100 other ones and decided your car is the best color and best spec, and they are willing to pay a premium because it’s the choicest option they could want to have on their lot. So it’s not like this is a high depreciation situation. Basically your subsidizing the dealership to sell it for u. You really should sell it yourself and I bet u can ask $44,000 and get at least $41,000 or own it for another year and the dealer will still probably offer u $33,000 then. I

 

Definitely sell privately. Do a search on Autotrader,com You'll be surprised!!

 

Tried all of those.

 

Not sure. Perhaps Cadillac CT4-V (not Blackwing) or Golf R.

 

Have you talked to your dealer about a buy-back? Not too long ago we asked this of our dealer and I think they offered within $400 (maybe $600) of MSRP. We only paid MSRP so I thought that was pretty good. Ultimately we decided to live with the things we don't like, at least so far.

 

I had two performance cars before my NX 350h, a 2016 Golf R and a 2018 Focus RS. I sold the Golf R. It is a great car and the new ones have 315 Hp. The Golf R would be a good choice. The Golf R had a lot of luxury features and had DCC, you could set suspension as comfort, Normal, or sport and it made a huge difference. I think the Golf R is very close to Audi in quality (closer than other VWs) and IMHO higher quality than Cadilac. The inside space is very similar to the NX,

Good Luck.


YMMV,
MidCow3

P.S. - I kept the Focus RS because it has raucous power, however not all the luxury and sophistication of the Golf R. The Focus RS serves my occasional need for shifting and performance

 

The sales tax rate in Denver is 8% (to use as an example). If you traded your car at $36K you would save $2900 in taxes (using my example rate), so your trade & savings would be ~$39K. If you can find a private buyer for $41K+ do it. I probably lost out on $2-3K not selling my 16' RX350 privately, even with the tax savings. In my case, my NXh arrived & I had little time to find a private buyer. I got low-balled on my trade, but happy with no markups or dealer add-ons.

 

Look at the prices for used 2022 NX350s - Way above $36,000! Even previous-generation 2021 NX are listed for >$40K, so you're getting seriously low-balled for your NX, barring undisclosed issues.