adg03

Hi All,

I am new to this forum. I am having this dilemma and would appreciate people's suggestions.

I have this 2008 Lexus IS 350 for last 10 years. It has 135K miles, and still drives superbly, absolutely no issues whatsoever. Only problem is there is a slight exterior dent and paint chip on one of the panels.

We have two newer cars (for myself and my spouse), and this car is not being used much. My son (high school student) uses it once in a while for local use (2-3 times in a month). So, I am trying to decide whether I should sell the car.

In one hand I feel there is no point of selling it as I won't get a good price (age of the car, mileage, exterior dent etc). On the other hand, I should probably sell it to save the insurance and maintenance costs, as this car is not being used enough.

Moreover, if I decide to sell it, do you think it makes sense to repair the dent and paintwork before selling it? Should I sell it to private party or it's not worth the hassle?

Thanks in advance!!

Oro

I’ll throw out some ideas, partly ‘cause I’ve recently dealt with HS drivers and I buy and sell used cars relatively frequently, if not for myself then for family members, etc.

- Hard to say about dent. To me, it’s a big detractor because I don’t do any level of body work beyond scratch repair or mild dent pulling. I want things nice looking, so I have to price in repairing it and it comes right off the price + more for my hassle. So for me I really won’t look at anything with any real damage. OTOH, some people are just not that picky and you may not make your $$ back, plus your hassle of arranging repairing it. I’d be tempted to try selling it as-is unless it’s just really horrid, or you have a connection who can do the work below market rates. All kinds of buyers out there, not just ones like me.

- Always makes sense to sell private party. Dealer hit is big. For a feel for that, go to edmunds.com as I find it gives good pricing guidelines, can tailor it well to the car and location, and see the trade-in, pp, and retail price differences all at once. They try to get you to input your VIN, email, etc. but you can get by without that, look at the tabs/toggles etc. I was actually using it just last night to price the 09 GS in the sig line.

- One thing I would not do is let a HS student (at least MOST) drive a car that higher performance. My step son is now 20. When he started I got a cheap but reliable and safe Honda. He is uber-responsible but still I started safe first. After a year or 18 months of proving it, then I flipped the Honda and got a more fun Volvo S60 turbo/awd for him. Still not IS350 performance, but I stage 0’d it and stiffened the suspension, etc. to make it fun enough. I know you say he’s not driving it much, and also I don’t know him, but gosh, on paper, I would worry a little (because I know what I did w/cars when I was 16, 17, etc.(ok, 25, 30, 35, 40, too).

- Another thought is this: unless the car you drive now is really fun, why not drive that car one day a week? I think they are fun to drive, and that way you get some value out of it. Then, it could be a car you gift your son when he’s ready for a full-time vehicle?

Stray thoughts, maybe it helps (or not). Good luck.

firestart9

There are pay-per-mile insurance companies depending on where you live. Also, make sure you and your wife refuse rental car coverage with your insurance and see what that does for your premiums.

Show us a photo of the dent. There are DIY solutions. Generally your car will sell faster because buyer psychology is to knock the price down $500 etc and then the buyer feels they are in-control.

I put less than 4000 miles on my IS250 each year I've owned it. I still like having it as a backup when my main car needs repairs; using it for winter or just getting really good highway experiences on long trips.

firestart9

What are the maintenance costs? a DIY oil change is like $50 a year. Your son could learn to do it easily.

Protholl

That and you can drop comp/collision either completely or enough to make a decent dent in the cost. If you have all your vehicles on one plan, see if you can adjust each car individually within the plan. I did that because I really don't use my truck very much and it saved quite a bit vs buying an individual policy.