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Yeah, I know still probably a bad time to buy and sell a vehicle.
I thinking about selling or trading in my GS for a while. Have not been able to pull the trigger on it a number of times. The GS is an excellent vehicle and I have no mechanical issues and is loaded with power when you need it. Yes, the engine buzzes when accelerating and it's not the best gas mileage.
I purchased it new so there's a big depreciation hit. However, sometimes I feel the seat back and leg driving positions aren't comfortable as the SUVs since SUVs ride higher. Thus, I get bad neck, back, shoulder and leg soreness on long trips.
The 2020 Lexus GS 350 F Sport RWD fully loaded with ML, IPA, in Ultra White with IPA, ML, etc.
No accidents, damages or mechanical problems. Currently it's around 20K miles.
I have a 72 month at 0% loan for around a little more than 2 years given I purchased during the covid time. Love the 0% financing deals. I had negotiated a good deal when new and below invoice for it.
KBB is indicating around $42K for Very Good condition. I already got a low ball offer from Carmax (not posting) just in case other dealers read this here.
I will be bring it to 2 dealers tomorrow and 1 more on the weekend.
Dealer A and B (sight unseen) thinks it's $38K to 39K which I think it's a low ball. It's lower than the Fair price.
Are they looking at the MMR report that's super low or Black book?
I haven't decided to keep or sell yet even if I get the $42K but nags are cost of maintenance like
I'm looking at the Toyota Rav4 Hybrid XSE (no luxury and more utility) and maybe the Lexus NX 350h (don't like the run flat tires with no spare tire and small cargo area).
0% interest rates have disappeared. New or used, even with a large down, the rates are (not) favorable.
Definitely not favorable. I can't remember seeing anything reasonable. I don't want to pay cash since you can invest that money and also make above 5%.
Depreciation is an unfortunate reality of car ownership. From a cursory glance on Autotrader, it looks like similar spec, year, and mileage GS350s are going for about low to mid 40s. Dealerships still need to make their cut so it doesn't seem like an offer around $40k would be too bad. If you were bent on selling it, I'd just price out the best offer then take that offer to the dealership you're purchasing from and have them match it. This way you can take advantage of the trade in tax savings. It's that or deal with sketchy Facebook Marketplace buyers for a few thousand more dollars.
Though I might advise against paying the huge premium for a hybrid in the current market. Unless you're tacking on a huge amount of miles, it's very unlikely that you'll ever recoup those savings.
If you must sell, sell it on your own. Since it's in mint condition, it should be easy to post it and doesn't require any fixes/repairs.
I will say though, interest rates have gone up to 7%+. That's a lot to spend on financing a 3 year old 42k car. Most people that have to finance would probably just look at leasing something if it's in that price range.
Cash buyers would rather drop their 42k+ on something else. And 42k will get you a lot of other cars that are still "Current" and being sold.
I've been toying with selling mine now for a while as well. I got some offers a few months back - something around $44k, but that was a few months ago. My car has about 4k miles on it but is also a 2020 like yours (but AWD). To me, $42k seems reasonable.
Depreciation is an unfortunate reality of car ownership. From a cursory glance on Autotrader, it looks like similar spec, year, and mileage GS350s are going for about low to mid 40s. Dealerships still need to make their cut so it doesn't seem like an offer around $40k would be too bad. If you were bent on selling it, I'd just price out the best offer then take that offer to the dealership you're purchasing from and have them match it. This way you can take advantage of the trade in tax savings. It's that or deal with sketchy Facebook Marketplace buyers for a few thousand more dollars.
Though I might advise against paying the huge premium for a hybrid in the current market. Unless you're tacking on a huge amount of miles, it's very unlikely that you'll ever recoup those savings.
Thanks for searching also on Autotrader, didn't think about that.
Still deciding if I will sell. The sales person is selling at MSRP without markup. Only 20K miles. I had a quote of $42K earlier this year while the vehicle was in maintenance.
If you must sell, sell it on your own. Since it's in mint condition, it should be easy to post it and doesn't require any fixes/repairs.
I will say though, interest rates have gone up to 7%+. That's a lot to spend on financing a 3 year old 42k car. Most people that have to finance would probably just look at leasing something if it's in that price range.
Cash buyers would rather drop their 42k+ on something else. And 42k will get you a lot of other cars that are still "Current" and being sold.
Yeap, that Rav4 Hybrid XSE is around $43K btw. The local credit union has:
Originally Posted by JDR76
I've been toying with selling mine now for a while as well. I got some offers a few months back - something around $44k, but that was a few months ago. My car has about 4k miles on it but is also a 2020 like yours (but AWD). To me, $42k seems reasonable.
wow, that's low mileage.
Originally Posted by praetor
I hit 10 years as of June 1st. I plan on keeping mine another 10 years.
Congrats. I wish I could keep my cars that long. I'm pretty bad on that and the longest has been 5 years.
I had a 2014 Acura TL (great car) FWD and it was very nimble but I sold it since the CAT issue around 96K. Regretted it for a while but worried about the transmission also.
Also, I had 2019 Honda Accord hybrid Touring, great vehicle and MPG was great on warmer weather and loaded with tech but after being hit by the F150 and pin balled to another vehicle with frame damage. It won't start after the accident. Honda Hybrids aren't that great in colder climates.
Used to be 0 to 1.9% for new cars. Probably wait a year and two and see. What goes up WILL come down, no way people can keep this up without defaulting on their loans. I heard repossession is increasing too.
Used to be 0 to 1.9% for new cars. Probably wait a year and two and see. What goes up WILL come down, no way people can keep this up without defaulting on their loans. I heard repossession is increasing too.
Yes, repo are a big thing almost everywhere. Youtube shows so many of them.
06-22-23, 10:10 PM
Lexus GS 350 F Sport Values
