Buy used LX, leftover '15, or wait for '16?
#1
Buy used LX, leftover '15, or wait for '16?
My 2007 GX470 is nearing 150k miles and I've been wanting to upgrade to an LX for some time now. I am struggling with my options and thought i'd post here to get your thoughts.
The way I see it, I have 3 options:
1. Buy a very lightly used '13-'15 LX570 for approximately $62k (with 8k-15k miles). This option is the cheapest, and really cuts depreciation down significantly.
2. Buy a new, leftover '15 LX570 for some unknown discount off MSRP. Likely ~$80k, unless you tell me otherwise.
3. Buy a new '16 LX570 for a price that is likely very near MSRP ~$93k or just slightly under. The new '16 LX looks gorgeous to me, has all the latest tech, however, depreciation will hit it hardest.
Any thoughts?
The way I see it, I have 3 options:
1. Buy a very lightly used '13-'15 LX570 for approximately $62k (with 8k-15k miles). This option is the cheapest, and really cuts depreciation down significantly.
2. Buy a new, leftover '15 LX570 for some unknown discount off MSRP. Likely ~$80k, unless you tell me otherwise.
3. Buy a new '16 LX570 for a price that is likely very near MSRP ~$93k or just slightly under. The new '16 LX looks gorgeous to me, has all the latest tech, however, depreciation will hit it hardest.
Any thoughts?
#2
My 2007 GX470 is nearing 150k miles and I've been wanting to upgrade to an LX for some time now. I am struggling with my options and thought i'd post here to get your thoughts.
The way I see it, I have 3 options:
1. Buy a very lightly used '13-'15 LX570 for approximately $62k (with 8k-15k miles). This option is the cheapest, and really cuts depreciation down significantly.
2. Buy a new, leftover '15 LX570 for some unknown discount off MSRP. Likely ~$80k, unless you tell me otherwise.
3. Buy a new '16 LX570 for a price that is likely very near MSRP ~$93k or just slightly under. The new '16 LX looks gorgeous to me, has all the latest tech, however, depreciation will hit it hardest.
Any thoughts?
The way I see it, I have 3 options:
1. Buy a very lightly used '13-'15 LX570 for approximately $62k (with 8k-15k miles). This option is the cheapest, and really cuts depreciation down significantly.
2. Buy a new, leftover '15 LX570 for some unknown discount off MSRP. Likely ~$80k, unless you tell me otherwise.
3. Buy a new '16 LX570 for a price that is likely very near MSRP ~$93k or just slightly under. The new '16 LX looks gorgeous to me, has all the latest tech, however, depreciation will hit it hardest.
Any thoughts?
As to option 2, $80K will get you a new Land Cruiser with a bit of negotiation. I recently checked out an '11 LX with 40K miles for $50K. The minute I found that the third row seats cannot be easily removed, I passed. I instead found a '13 Cruiser with fewer miles for $10K less, flew to the dealer, handed them a certified check, and drove home.
Like I began, it's your choice. Swmbo and I are completely debt free, and although I could easily swing a '16 LX by having my dealer call my bank with drafting instructions, for the difference involved in price, it's a no-go for me and wife. You may get a good deal on a 3 year old LX coming off lease.
Let us know what you end up with.
Steve
As to option 3, if you like the coke-bottle look of the '16 and want to bite the depreciation bullet, go for it.
#5
I was able to charge off like $75K last year on the 2015 purchase but if I buy the 2016 in 2015 I will loose $50k of my deduction as the laws, I think, have changed and I can only deduct $25K each year on the 2016 LX, leaving me to pay the extra taxes on the $25k lost on the 2015.
My CPA is looking into it but the laws have changed
#6
no gx460? It handles much better than a cumbersome LX and has all the tech stuff. Space slightly less inside.
I would opt to not buy any lx here. A total redesign is in expected in 2018 and waiting 3 years would be worth it.
You'll take a huge hit even on a used LX imho
I would opt to not buy any lx here. A total redesign is in expected in 2018 and waiting 3 years would be worth it.
You'll take a huge hit even on a used LX imho
#7
The GX is kinda a disappointment if you are used to a LX.
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#8
the gx is no match to the lx in almost every aspect especially with this 2016 facelift. the car is small so it might handle better (but honestly both don't handle anywhere close to be impressive anyway), but the lx is faster, more powerful, larger, bigger screen, more tech, etc...
#9
I am going for it but I will likely pay a huge tax penalty.
I was able to charge off like $75K last year on the 2015 purchase but if I buy the 2016 in 2015 I will loose $50k of my deduction as the laws, I think, have changed and I can only deduct $25K each year on the 2016 LX, leaving me to pay the extra taxes on the $25k lost on the 2015.
My CPA is looking into it but the laws have changed
I was able to charge off like $75K last year on the 2015 purchase but if I buy the 2016 in 2015 I will loose $50k of my deduction as the laws, I think, have changed and I can only deduct $25K each year on the 2016 LX, leaving me to pay the extra taxes on the $25k lost on the 2015.
My CPA is looking into it but the laws have changed
#10
Greg it is very likely that congress will pass the section 179 increased limit/bonus deduction at the last minute again just as they did last year. Last year, if you remember, the extension was passed the last week of December. I believe they will extend it into 2016 this time as well due to the election year.
Let's hope they keep their hands off credit card travel rewards miles, too 😁
#11
So I'm picking up a 2013 CPO Land Cruiser instead. YMMV.
#12
Greg it is very likely that congress will pass the section 179 increased limit/bonus deduction at the last minute again just as they did last year. Last year, if you remember, the extension was passed the last week of December. I believe they will extend it into 2016 this time as well due to the election year.
Thanks very much.
#13
"Slightly less" space inside?...Try 83 cubic feet on the LX and 60 on the GX.
"Huge hit" on used trucks?...Check the percentage of remaining value on a 3 year old LX v. a GX.
Beyond that, cumbersome cargo door designed for right-hand drive trucks...it opens on the wrong side of the curb.
To me, no comparison between engines.
I've yet to see a GX off-road, but I see plenty of series 100 trucks in the dirt and I'm beginning to see some 200's, though admittedly Cruisers v. LX's.
Steve
Last edited by DaveGS4; 10-22-15 at 04:14 AM. Reason: Rude comment towards other Lexus owners
#14
I found a very clean 2013 Cruiser after 3-4 months of searching. Flew to the dealer, handed them a check, and drove her home. Swmbo inherited my '01 LX. You will love the Cruiser.
I'd taken a close look at an '11 LX, but passed when I found that removing the third row seats involved disconnecting the cylinders that moved the seats from sitting position to folded.
OT...outstanding user name btw My Cruiser's plate is "FN FAL".
Steve
I'd taken a close look at an '11 LX, but passed when I found that removing the third row seats involved disconnecting the cylinders that moved the seats from sitting position to folded.
OT...outstanding user name btw My Cruiser's plate is "FN FAL".
Steve
Last edited by hankinid; 10-21-15 at 08:11 AM.
#15