Keep my '99 RX300 or buy an '07 ES350?
#1
Driver
Thread Starter
Keep my '99 RX300 or buy an '07 ES350?
Here's the deal, I have a '99 RX300, little over 200k, got a new engine and remanufactured tranny under the CPO warranty at around 86k and 90k. I think it's running great but a few people tell me it looks and feels old - rickety etc, perhaps I don't see it as I've grown attached. Wife has an '08 G35, 3 1/2 years old and the plan is to buy her a new car every 7-years and I get it years 8-14. So I got 3 1/2 years to go before we buy a new car.
My RX is worth about $3k wholesale now. If I keep it 3 1/2 years, still probably worth $1,500 or so, so depreciation is minimal. Of course there are risks of costly repair or breakdown, but it's been on a roll with no problems for over a year. Still in 3 1/2 years it will be nearly 17-years old as in service was June '98 and over 250k miles. An option is my in-laws are trading in their '07 Lexus ES 350 with 32k and will sell it to me for a bit under trade in offer as a favor. The ES had significant PD with two new doors put in by a dealer's shop, and looks perfect to me, but obviously will reduce value. It runs perfectly, the only issue being a big oil leak that popped up a couple of months ago and was covered by the powertrain warranty and repaired by the dealer with no other apparent issues. Lets say I can get it for $15k and sell my RX for $3k. Costs me $12k to switch, get to drive a much newer and lower mileage Lexus for 3 1/2 years. Wonder what trade in value on an '07 ES with about 80k miles and repaired damage would be in 2015 in considering how much of that $12k I would get back down the line.
I think the bottom line is whether I should count my blessings for such a good run with my RX and get out now, or keep gambling and ride it out for 17-years on the road and save the cash. Thoughts?
My RX is worth about $3k wholesale now. If I keep it 3 1/2 years, still probably worth $1,500 or so, so depreciation is minimal. Of course there are risks of costly repair or breakdown, but it's been on a roll with no problems for over a year. Still in 3 1/2 years it will be nearly 17-years old as in service was June '98 and over 250k miles. An option is my in-laws are trading in their '07 Lexus ES 350 with 32k and will sell it to me for a bit under trade in offer as a favor. The ES had significant PD with two new doors put in by a dealer's shop, and looks perfect to me, but obviously will reduce value. It runs perfectly, the only issue being a big oil leak that popped up a couple of months ago and was covered by the powertrain warranty and repaired by the dealer with no other apparent issues. Lets say I can get it for $15k and sell my RX for $3k. Costs me $12k to switch, get to drive a much newer and lower mileage Lexus for 3 1/2 years. Wonder what trade in value on an '07 ES with about 80k miles and repaired damage would be in 2015 in considering how much of that $12k I would get back down the line.
I think the bottom line is whether I should count my blessings for such a good run with my RX and get out now, or keep gambling and ride it out for 17-years on the road and save the cash. Thoughts?
#2
Driver
Thread Starter
Pd
Thanks for the input. I think I agree with you and will pull the trigger if I can get it that cheap.
#3
Lexus Champion
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Location: BayArea2RockyMountains
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Of course vehicles depreciate. You can easily sell your RX for $3-4k with that miles. Especially if it snows alot in your state. You will have equity i think in the ES because the values on these Lexus dont take a major sudden dip. They depreciate slowly and your gonna be way ahead right off the bat.
#5
Driver
Thread Starter
RX300 value
What are the best places to list a used car these days? I know there are several nationwide sites. If I could get $6k that would probably seal the deal and have me do this. But what about concerns on who I may be dealing with?
#6
Intermediate
Our other car is 2007 ES350, it is quiet, smooth with lots of power and control when cutting corners. It is the opposite of driving RX300. But I enjoy driving them both as they feeling is different. Since you are getting a really good deal on the ES , I would go for it.
#7
Lexus Test Driver
I was talking trade in value and that's what I've been offered as trade when I was just considering options in the past year. Are you talking private sale? I've never sold privately and was planning on just selling to Car Max for wholesale as I was concerned about strangers showing up and testing the RX.
What are the best places to list a used car these days? I know there are several nationwide sites. If I could get $6k that would probably seal the deal and have me do this. But what about concerns on who I may be dealing with?
What are the best places to list a used car these days? I know there are several nationwide sites. If I could get $6k that would probably seal the deal and have me do this. But what about concerns on who I may be dealing with?
Post it up on craigslist.
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#8
Pole Position
Yep, that is how I sold mine....got 6k for 187k miles RX..They got a great deal as there was zero bad on my RX.....Carmax offered $4100...but I got so many calls on Craiglist...Just be careful and make it a cash only deal, even if you have to take them to a bank to cash check, at their bank, not yours...
#10
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sell it on craigslist. stop being paranoid of strangers showing up to test drive your RX. would you rather have a stranger drive and buy it for 6, or take a 3k loss and sell it to carmax who will re-sell it for 7995? Thinka bout it.
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lserlohn
RX - 1st Gen (1999-2003)
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06-26-12 10:23 AM
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