TimS9393

I just found out I'll be driving nearly 30,000 miles next year (combination of business trips and personal use). The IS 350 is the only vehicle I have so I'm considering getting a second vehicle to drive for most of these trips (approximately 25,000 of those miles)

I did several calculations to determine if leasing a second vehicle (corolla) would actually save me money by reducing the fuel cost, maintenance cost (i do my own mainteneance so basically just the cost of parts and fluids), and by reducing the amount of vehicle depreciation on the IS.

I currently have 20k miles so I checked to see what the difference was on my trade in value for 25k vs 50k miles. Kelly blue book showed about $6250 difference! Edmunds.com showed only $1400.

So if I use edmunds' estimates, I don't loose very much in depreciation so it ends up being cheaper to keep using the IS for all 30K miles, by about $500 so pretty much a draw. If I use KBB's estimates, I end up saving $4300 a year by driving the Corolla instead.

Which source do you all think is more reliable for estimating the deprectiation of the 350? Any other thoughts appreciated.

Jefe's IS

No matter what the depreciation difference may be selling a low milaege car is much easier than a high mileage car.

We have an 07' Corolla S as well and I have an average of 35.5 mpg from new. Currently at 18,000 miles. Hand calculated/ tracked every tank from 200 miles on the odo. High of 38mpg. On the highway only I would estimate between 42 to 44mpg. It's a decent ride but not the Lexus.

darkdream

is your Is350 a lease?

tex2670

So--if you use the $6250 figure, how do you SAVE money by leasing another car? Unless you find a junker for $5000? It's one thing to get rid of the car and find a cheaper more fuel efficient car, but I just don't see how getting a second brand-new car is a money SAVING venture.

Yay-Z

With the economy, your can is gonna depreciate like a rock no matter what...Keep your car and run it into the ground

gc86

iTrader: (26)

I agree, it's just a car, you bought it because you wanted a luxurious vehicle right? so put it to use and enjoy those 30k miles.

tqlla3k

iTrader: (1)

It might be worth it... if you can find an older 4 cylinder for cheap(like a 99 Tercel, or Mitsubishi Mirage).

kickin8

iTrader: (1)

getting 2 cars = 2 X depreciation.....

Fizzboy7

Forget it. You'd be spending more longterm money by getting a second car. Just drive the IS, it's the best answer.

Monkey250

I was in the same boat. Just ride in luxury in those 30,000 miles. Not worth buying a second car.

Mesca

iTrader: (28)

Agreed with everyone else, it's not like Lexus is unreliable or anything. Putting a lot of miles on your car should make you proud

chris07is

iTrader: (10)

lets not forget...you have to pay Insurance on your 2nd car...so youre really not saving anything....

BounceNY

iTrader: (9)

I don't think its worth it either. I was in a similar situation and just kept my IS. I put on a ton of miles, but I was happy to be doing it in this car. It made the commute that much better.

tex2670

And if you own, rather than lease, a Lexus is going to be good for 100k+ miles.

TimS9393

Good advice here, I'm still on the fence though.

The 2nd vehicle lease I was talking about is for an 09 Corolla. I expect 40 MPG with that since all 30K miles will be highway (well 99% of them).

I get an awesome deal through my company where they pay all maintenance and insurance on the vehicle and I get it at a pretty low price (don't think I can say what it is on a forum though). I also don't have to loose out on any depreciation for a leased vehicle since I'm not buying it.

So taking that into account, my original cost estimates are accurate for long term.


Oh and I own my car, all paid off.