Nauticalx

As some of you guys know, I've been on this board as a LS owner interested in adding a used GS350 to my fleet. Upon looking up prices of 2007 GS350 RWD's on KBB.com just to see how the resale prices are fairing, I was SHOCKED to see just how low the prices are for these barely 1 year old vehicles. For example:

Private party prices for a 2007 GS350 RWD w/Navi, park sensors, and Mark Levinson in GOOD condition:

10,000 miles= $36,000

20,000 miles= $33,500

35,000 miles= $30,000

Aren't these prices low? I'm not complaining but I just thought the GS held it's value a little better than this! Time to pull the trigger???

rominl

iTrader: (4)

residual of the gs350 is 50% in 3 yrs, it's definitely not "good" at all

considering you can get a new gs350 (the spec you mentioned) for around 46k, that sounds about right

Nauticalx

A dollar a mile for the first 10,000 miles in depreciation...whew man, I'm glad I'm not eatin that by buying new.

cliffud

iTrader: (3)

nautical - exactly why i've held off buying anything. my heart says pull the trigger but my brain knows that the deals will get sweeter as time goes on and i have no real reason to rush.

flipicanez

iTrader: (1)

I love the fact out of 11 cars in my lifetime, I have never purchased new. Big waste of money. I just buy a "New Car" scent at AutoZone and call it a day.

Nauticalx

new car scent from autozone?? hahahah, thanks for the tip!

I8ABMR

damn thats horrible.

Eiso

Its going crazy for so far I've seen. Dealers are giving me only $36k at most for a trade in. I'm feeling bad already...sigh!

2thfixr

Take the $36k and run! I was offered $31k for mine when I thought about trading it in earlier this year. The depreciation hit on this car is surprising for sure.

Nauticalx

I didn't want to inject this into the thread initially because I wanted someone to respond with some evidence since I have none, but it just seems to me that the whole new car market being in shambles is trickling down to used cars. I just don't know if the new car market will influence the used cars all that much and whether or not this is just bad depreciation on the GS or if most/all other used car prices have also taken a turn for the worse due to the market conditions. Anyone got thoughts or evidence on this?

Nauticalx

2thfixr...I'll give you $31,100 for yours! That's a steal!

TXprfrmnce

iTrader: (1)

Makes leasing sensible (as long as you are within mileage)??

jdog

Dealer is only giving me $29k for mine. I am 2 years into a 3 years lease and will lose $3k. I hate to do it, but I have to. I'm moving to Australia in 4 weeks and have not had any luck selling it private party. Good thing I'm not really paying for it, my employer is covering my loss as part of my relocation package.

Nauticalx

Jdog...what are the details on your car? 2 years? So you must have an 06 right?

cliffud

iTrader: (3)

nauticalx, I don't think the depreciation issue is just with the GS or with Lexus in general- I would wager that it's across the board.

I recently found 2 07 lS460s here in phoenix for 53k each and they both had less than 10k miles in addition to being nicely loaded with the reclining rear seats. I was really surprised at the pricesand at the same time reminded that this economy is really going to give us great deals on cars which I why I'm in no rush.

I suggest checking out jdog's car if you're interested in a 3gs.

GL w/ sale jdog.

Clifford