Lexus: Buying Used vs. New Lexus
10-15-15 | 12:13 PM
#17
Lexus Champion
Joined: Nov 2013
Posts: 12,598
Likes: 1,631
From: WA
I've done both with great results. My TSX and my 4Runner were purchased used, with very low miles, and both were excellent vehicles. Lately I've been going with new, but I would still consider used, depending on the car, price, and condition.
10-15-15 | 10:18 PM
#18
Lexus Test Driver
Joined: Aug 2014
Posts: 1,252
Likes: 3
From: Sacramento, CA
Bought the last two (2008, 2012) Mazda 6's new. Great, had fun but won't do that again with any car due to depreciation. I'm over buying new cars. Lately been looking at four doors and have really liked offerings from Porsche Panamera, Lexus GS 450H or LS hybrids with low miles. To each their own. Just enjoy life.
10-17-15 | 08:06 AM
#19
Lexus Fanatic
Joined: Oct 2003
Posts: 91,702
Likes: 89
From: Virginia/D.C. suburbs
Yes, one CAN get a good used car, but it's obviously a lot riskier and more a matter of rolling the dice than with a new one. Of course, a brand-new car is no guarantee of trouble-free ownership, ether, but you lessen the odds quite a bit.
10-17-15 | 01:19 PM
#20
Lexus Fanatic
Joined: Nov 2011
Posts: 31,719
Likes: 73
From: ON/NY
Yes I agree, you lessen the odds substantially and you get a new car warranty and you get to experience a car NEW. If one has the money for new car, I cannot understand why they would want to buy a car that is used.
10-17-15 | 02:10 PM
#21
Lexus Test Driver
Joined: Jan 2007
Posts: 7,460
Likes: 228
From: CA
Originally Posted by LexsCTJill
Yes I agree, you lessen the odds substantially and you get a new car warranty and you get to experience a car NEW. If one has the money for new car, I cannot understand why they would want to buy a car that is used.
I could see the benefits of a used car but I tend to keep my cars for at least 8 years so new was the way to go for me.
10-17-15 | 02:29 PM
#22
Lexus Fanatic
Joined: Nov 2011
Posts: 31,719
Likes: 73
From: ON/NY
I do not agree with you. I think you get more car with an IS350F with zero miles vs a Carrera with 30,000 miles. The zero miles is what is more appealing to me. You also got maintenance issues such as brakes and tires way earlier on a used.
10-17-15 | 09:01 PM
#23
Pit Crew
Joined: Aug 2014
Posts: 170
Likes: 7
From: North Carolina
With the Lexus we looked at new and used RX 350, new and used Caddy SRX and new Nissan Murano. Surprised me when we went with a used RX350. The logic is, we don't put many miles on a car (7K per year). So a low mileage, older version fit our needs. I estimate the RX350 will last us 7 to 10 years. We took into consideration that a RX 350 is built to last at least 200K miles.
10-18-15 | 06:16 PM
#24
Lexus Champion
Joined: Mar 2006
Posts: 1,841
Likes: 74
From: FL
I used to pay cash and buy used cars so I can spent less for a higher end car that I wouldn't be able to afford. Then I drive it for a while, usually 6 months to 1 year and sell it a little less than I spent and move on to another one. But this was getting old and no matter how much I pay, like my last CPO 750Li individual, for 75k, it was still an used car, and everytime I get in it, it keep reminding me it's an old car that someone has driven it before me. Traded that in after one year of ownership, total loss= 29k.
Then I start leasing new for my business, and to consider I never keep a car for more than 3 years, leasing new is the way for me. I can drive the newest, better tech, fresh design, enjoy the new car smell all the time. Don't have to worry about depreciation, drove it for 3 yrs or less and move on to the next one. In short 2 and half years, I have 5 cars leased under me. And since I always get the new style, people know I drive brand new cars not bought a used model. I love cars, and life is too short for me to get stuck with one car for too long that I can't taste something different, So I will probably only lease till I retire, or ever!
Then I start leasing new for my business, and to consider I never keep a car for more than 3 years, leasing new is the way for me. I can drive the newest, better tech, fresh design, enjoy the new car smell all the time. Don't have to worry about depreciation, drove it for 3 yrs or less and move on to the next one. In short 2 and half years, I have 5 cars leased under me. And since I always get the new style, people know I drive brand new cars not bought a used model. I love cars, and life is too short for me to get stuck with one car for too long that I can't taste something different, So I will probably only lease till I retire, or ever!
10-18-15 | 06:21 PM
#25
Lexus Champion
Joined: Mar 2006
Posts: 1,841
Likes: 74
From: FL
A slightly used car (1-2 yrs) beats a brand new car in every single way. Except one, It's brand new.
Last edited by Diesel350; 10-18-15 at 06:49 PM.
10-18-15 | 06:50 PM
#26
Lexus Fanatic
Joined: Oct 2003
Posts: 91,702
Likes: 89
From: Virginia/D.C. suburbs
Last edited by mmarshall; 10-18-15 at 06:56 PM.
10-19-15 | 06:48 AM
#27
Lexus Champion
Joined: Nov 2013
Posts: 12,598
Likes: 1,631
From: WA
I can't speak for everybody else, but the reason I bought my 4Runner used was because I could not find a new one on a lot optioned the way I wanted, and came across a used one that was exactly what I was looking for. It came with the Toyota Certified Pre-Owned extended warranty, and only had 11k miles on it. So yes, it didn't have "zero" miles on it, but it was exactly what I wanted, and I saved a fair bit of coin over a brand new one.
10-19-15 | 08:12 AM
#28
Lexus Champion
Joined: Jan 2006
Posts: 3,763
Likes: 6
From: TX
/ducking for cover ... I know this is a very sensitive subject/
10-19-15 | 08:23 AM
#29
Lexus Fanatic
Joined: May 2012
Posts: 58,302
Likes: 2,790
From: Maryland
The reason I lease is because:
1. I know I will want a new car after 3 years.
2. I can deduct for business.
3. Because of #1 and #2, leasing is considerably cheaper than buying, eating the worst of the depreciation, and then having to pay recaptured depreciation trading before its fully depreciated.
Even absent #2, if someone knows they're going to trade anyways after 2, 3 or 4 years leasing saves them money. I've done the math even at 5 years, leasing every 3 is no more expensive than buying new and keeping it for 5.
I can totally understand why people buy used, but its not for me.
10-19-15 | 09:03 AM
#30
Lexus Champion
Joined: Mar 2006
Posts: 1,841
Likes: 74
From: FL
We've had this argument before. Leasing is a very expensive way to operate a motor vehicle, but its not THE most expensive way. Buying new and trading every 2-3 years would be the most expensive way.
The reason I lease is because:
1. I know I will want a new car after 3 years.
2. I can deduct for business.
3. Because of #1 and #2, leasing is considerably cheaper than buying, eating the worst of the depreciation, and then having to pay recaptured depreciation trading before its fully depreciated.
Even absent #2, if someone knows they're going to trade anyways after 2, 3 or 4 years leasing saves them money. I've done the math even at 5 years, leasing every 3 is no more expensive than buying new and keeping it for 5.
I can totally understand why people buy used, but its not for me.
The reason I lease is because:
1. I know I will want a new car after 3 years.
2. I can deduct for business.
3. Because of #1 and #2, leasing is considerably cheaper than buying, eating the worst of the depreciation, and then having to pay recaptured depreciation trading before its fully depreciated.
Even absent #2, if someone knows they're going to trade anyways after 2, 3 or 4 years leasing saves them money. I've done the math even at 5 years, leasing every 3 is no more expensive than buying new and keeping it for 5.
I can totally understand why people buy used, but its not for me.
Of course leasing will be less expensive than buying a brand new car every 3 yrs. But if someone is not buying a brand new car every 3 yrs, after 3 yrs the leasing cost will be more than the loan cost.