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Just wanted to hear some input from the community. Anybody thinking about trading in their NX given the higher resale/trade in value for a new 2022 NX? I’ve checked KBB for an estimate and they gave me a trade in of 37-39k, and private party resale of 40-43k. Strongly considering this given the stark tech/mechanical/visual improvements of the new upcoming model. Any thoughts or insights into this?
While the current market is likely to give you an attractively inflated price for your 2020 NX, the problem is that you likely will end up giving up the windfall gain from the trade-in or sale of the 2020 when you have to pay an inflated price for the 2022. With the 2022 NX being a new generation, with likely demand exceeding supply, and with the current dealer practice of having "market adjustment" pricing, it is likely that you will not be getting a discount from MSRP on the new 2022, and you may well end up having to pay a premium over MSRP for it.
This is a great time to be selling a car, new or used, but it is a bad time to be buying a car, new or used.
We thought about trading up our 2019 NX for the 2022 as well but this is such a bad time to buy cars, we decided to wait a year or two. If time is on your side, I would wait for the demand to slow down and the supply to catch up.
I was in your shoes and shopped around with other brands.
It sounds appealing to use the equity to offset the high price tag of a new car, however the problem is that there is very limited inventory on dealer lots.
I am sure the scenario will be no different for the new NX. Be patient if you can hold off unless you have to part ways with your NX.
Appreciate the input guys!! All very valid points, and honestly the car is barely broken in at 20k miles and I think I was getting a bit trigger happy by watching all the videos on the newer model. I’ve grown accustomed to the car and I can easily hold off on parting ways with it this soon. Thanks!
KBB values are values in the ideal world. You won't get those estimates at a dealership.
I have a 2016 NX200t Fsport AWD fully loaded ultra white / red interior 21k miles and the dealer I bought it from was sending me letters offering me $25k for the car to trade in for a NX300, KBB tells me my car should be $33,262 - $35,710 range.
KBB values are values in the ideal world. You won't get those estimates at a dealership.
I have a 2016 NX200t Fsport AWD fully loaded ultra white / red interior 21k miles and the dealer I bought it from was sending me letters offering me $25k for the car to trade in for a NX300, KBB tells me my car should be $33,262 - $35,710 range.
I've read about a method that some have used, in today's market, to get dealers to up their trade-in offers. Before negotiating with the dealership, they have gotten offers from Carvana, Vroom, etc., and those offers are typically significantly higher than what dealers are offering for trade-ins. Then, when they do go to the dealership, they use the offers from Carvana, Vroom, etc. as a negotiating tool to get the dealers to raise their trade-in offers.
It is important to note, though, that, before even bringing the trade-in into the negotiations, the buyer needs to have completed all negotiations related to the price of the new car.
Carvana offered me $38k for my 2019 F-Sport with 26k miles. That's $11k over the buyout cost of my lease and a $4k increase from about a month ago. These are crazy times. Yes you may pay full price for a new 2022 but being that it's a re-design I think you likely would have anyway even in normal times. I certainly would not pay over MSRP. IMO the high value of used cars/trade-ins offsets the fact you have to pay MSRP.
It's definitely a terrible time to buy a used car.
Yes, these are crazy times! I just sold my 2020 NX to CarGurus for for 39k. It was 5k over what I originally paid in 2020 and 5k over what the dealer was going to give me on trade for a new RX. My NX only had the comfort pkg and kick rear door. I did pay $1000 under MSRP and no dealer fees for the 2022 RX. Because of taxes I netted about 3k by selling instead of trading.
I want my wife to get the 2022 NX from her 2018. It's just such a difference with tech and other features it seems like a total win. Problem is the huge waiting list for the NX...
If you are in a position that you can sell the NX outright, and then sit and wait for the new NX, you'd probably get a good deal. If you are selling but then NEED a vehicle it wouldn't be a good time.
My neighbor seems to be selling all his cars to carvana..lol I saw the truck there twice so far in less than two months.
We have multiple cars and it's very tempting to sell the the NX and just wait until they are available and not have a markup. (although I believe my dealer won't have any markup on it.. they don't normally mark their cars up).
The NX is paid off but the only thing that is stopping us is that I never really like/want a first gen vehicle. I'd be fine after a year or so after some of the kinks are worked out. I honestly tend to like the last generation of what they are making before a facelift/refresh.
I wasn't 100% sold on the newer NX but the more and more I look at it, the more it looks like they actually planned things like they should have with our current gen NX. Only two minor gripes are the door handles, and the passenger side dash is so plain/empty. I'm all for cool gadgets, but I've never had a normal door handle fail. In all the years of owning different makes and models, not once has a handle every not worked by pulling on it. As much as I like that idea of switches in the exterior door handles it just seems like something that will eventually wear out/break, but who knows?! Last thing is the passenger air bag/dash area. It's like they completely forgot to put a trim piece, or SOMETHING there. It's just so empty and plastic looking. Looks very budget toyota car look to me. Everything else seems sweet! Front end looks 100x better, back end looks nice and clean!
The YouTube reviews make the 2022 look quite appealing, though for me, the jury’s out re touchscreen—unless voice control is much improved. The thing that would have me thinking long and hard would be run flat tires and what appears to be no room for a spare. Maybe the sound insulation is great but the experiences I’ve had with RFTs have been less than desirable. Noisy and meh/ugh handling—even with my usually mellow driving style. Maybe2 I/people would be content with regular tires and a fix-a-flat type kit (a la Tesla, eg).
I have a 2020 which I LOVE.
But I am curious to see the 2022 when it comes to my local showroom. I was toying with the idea of trading in for a '22. Here are some of my thoughts on that:
1 - The '22 might provide me with some new safety features and toys (?).
2 - The '22 has a lowered NAV display panel. Stupid how they made it in my '20 - obstructs visibility and fragile if loading large/long objects.
3 - I prefer the side view of my '20 over the '22. The '22 looks boring to me, but my '20 has some nice curves
4 - I HATE HATE HATE runflat tires. Stiffer ride and more costly. I can (usually) easily fix a non-runflat.
5 - I have no concern about the new generation from Lexus.
10-12-21, 01:34 PM
Trading in 2020 NX for 2022?
