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I know you have all seen the insane and crazy prices of used cars trade in or private sales are at an all time high. Primarily caused by global semi-conductor shortage, the shut down of auto plants across the globe hampering the auto industry to manufacture new vehicles, covid, etc...The classic high demand low supply scenario, as a result has increased the used car prices figures nearly 20-30% if not much more over the last year or so especially on SUVs and Pickup Trucks but sedans too. My Lexus dealer has called me personally 2x and emailed me 3x already over the last month offering me nearly $3k under what I originally paid for my 2015 GS F-Sport almost nearly 3+ years ago with no obligation to buy new either. A simple online search of the used car values an index is off the charts and I am seriously considering it and running. I may even test the waters and throw it on the market next month for sale as the new MRR and KBB reports are to be announced with even higher adjustments.
Anyone here have similar stories or seen offers for your GS?
I used to own an Infiniti G37 coupe before I got my GS350. I sold my car 2 months right before covid; it was a private sale. I however was not able to sell it for what I wanted it for; it came with a lot of mods and such (lots of money down the drain lol). Fast forward to February of this year. The Infiniti dealership kept sending emails and called me saying they want to purchase my G37 for about 3k under what I purchased it for. They wanted it even more because it was fully modded and they had a buyer ready to purchase from them if I were to sell to them. They were offering me way more than I sold it for. I wish I would've held onto the car had I known, but oh well.
Carvana offered me an outstanding price to sell my GS to them fetching over $20k for my 9yr old car premium pkg AWD GS350 with 61k miles. Last year in November, Carvana was offering me ~$18k. I went in for service recently and the Lexus dealership had barely any used cars - my service manager actually oversees the CPO process and said that they hardly see cars available even through their own dealer network and auctions. Lots of their inventory is now lease returns and one-off trades.
Although its a good time to sell high - the opposite problem will exist where you may not be able to find the right replacement car since demand is so high for everything and inventory levels are super low at the moment.
Not a GS but I recently sold my UX lease to Carvana. They paid 3k more than any dealer offer. That was a no brainer, signed the contract and I got out of a lease with a little over a year left on it. I'm tempted to sell my GS as well but I couldn't. I love the GS.
Just did a quick check on KBB; came back $27530! That’s way more that what I was offered last year. It s a great time to sell, but like AJLex19 said, may not be able to find a suitable replacement.
I used to own an Infiniti G37 coupe before I got my GS350. I sold my car 2 months right before covid; it was a private sale. I however was not able to sell it for what I wanted it for; it came with a lot of mods and such (lots of money down the drain lol). Fast forward to February of this year. The Infiniti dealership kept sending emails and called me saying they want to purchase my G37 for about 3k under what I purchased it for. They wanted it even more because it was fully modded and they had a buyer ready to purchase from them if I were to sell to them. They were offering me way more than I sold it for. I wish I would've held onto the car had I known, but oh well.
Probably the GS will hold its value even more now that the GS line has been killed.
Also, regarding mods on the car, yeah they usually reduce the price instead of increasing it. 100% Stock usually sells faster, unless u meet a car guy that knows his stuff but that's usually only 1% of the buyers.
My Lexus dealership has sent a letter and called me this week trying to entice me into trading in for an ES. They offered me a lowball trade in value and it seems to be about $2-3k less than I estimate a reasonable TIV to be. I think I could sell the car to a private buyer for about what I paid for it 2 1/2 years ago with 26k less miles.
I responded to their email stating that there is no way I'd trade my GS for an ES and told them they got rid of the only sub $70k vehicle (the GS) they have that I'd buy and that I'd consider BMW and Genesis for my next car. I complained a bit about cancelling the GS and why they basically never improved it. I forgot to bring up the IS and what irks me about the IS500. I can't figure out what they're doing with that. I always admire the IS models when I see them on the street but it's too small and it's also a step down on interior quality and premium feel and I don't like the interior styling particularly the console and infotainment which is like the RC. I drove an older IS and I had a very difficult time getting in and out of the car and where my seat is most comfortable puts my face right behind the B pillar. I can't figure out why they didn't do a GS500 in the $60-70k price range and why they priced the GS-F so freaking high. If I could have a V8 in my 2013 Luxury I'd be super happy.
Toyota indicated they have stock piled some chips before like 6 months worth, not sure if they have eaten thru all of the surplus. They were short on other parts preventing some vehicles to be made. Then they had the Covid issue in Canada with one of the suppliers.
It's a terrible time to buy but a great time to sell a vehicle. I'm not seeing much discounts from dealers at the moment. Some people were paying above MSRP for new cars at much at 12% above MSRP.
I was also curious about car prices so I went to get a quote from Carvanaon my newer 2020 Lexus GS 350 F Sport. I remember in Jan 2021, Carvana quoted $48,xxx with around 1K miles or so. I re-ran the report last week, May 2021 and it's only $44,xxx with 2,300 miles now. I paid way more than both prices for the vehicle. My Lexus dealer became an used car shop with mostly CPO Lexus and other car brands. They must be very active in the car auctions lately I bet. They sell lots of used vehicles compared to new ones. The lot size difference is like 2:1 for used compared to new.
IMO, I think Lexus/Toyota dropped the GS due to slow sales. Lexus didn't make the GS a lot different than the ES. So people cheaped out and purchased the ES. The IS looks great but it's way too small for me to in and out.
My Lexus dealership has sent a letter and called me this week trying to entice me into trading in for an ES. They offered me a lowball trade in value and it seems to be about $2-3k less than I estimate a reasonable TIV to be. I think I could sell the car to a private buyer for about what I paid for it 2 1/2 years ago with 26k less miles.
I responded to their email stating that there is no way I'd trade my GS for an ES and told them they got rid of the only sub $70k vehicle (the GS) they have that I'd buy and that I'd consider BMW and Genesis for my next car. I complained a bit about cancelling the GS and why they basically never improved it. I forgot to bring up the IS and what irks me about the IS500. I can't figure out what they're doing with that. I always admire the IS models when I see them on the street but it's too small and it's also a step down on interior quality and premium feel and I don't like the interior styling particularly the console and infotainment which is like the RC. I drove an older IS and I had a very difficult time getting in and out of the car and where my seat is most comfortable puts my face right behind the B pillar. I can't figure out why they didn't do a GS500 in the $60-70k price range and why they priced the GS-F so freaking high. If I could have a V8 in my 2013 Luxury I'd be super happy.
A lot of things changed at Lexus during the GS lifecycle. The New Lexus Driving signature introduce a new directions for Lexus. I believe their new course was a proper intro to the F Sport Performance package, IS500. Lexus is currently redo their F-Sport Line. Now you have the Base F-Sport, Performance F-Sport and Pure F. Deside, Akio didn't want to green light the 4th GS back in it's initial development. He wouldn't want to throw money at it since it didn't sell well anywhere. And now he got his wish.
The GS sold less than 5k units in 2019. The ES sold ten times that. There's no reason for Lexus/Toyota to put the time and R&D money into producing a new generation of GS. It's a declining and increasingly niche segment
As far as used prices go, it's going to be like this for awhile. The chip shortages will not be abating anytime soon, regardless of the pandemic. There is severe drought in Taiwan and semiconductor plants use a lot of water
05-24-21, 09:12 PM
Insane Used Car Market and best time to sell GS?
