wbrewster

I was shocked today when I went to a Bay area Lexus dealer and saw an 02 SC430 (red) w/71K mikes for $21K and another 02 (gold) w/23K miles for $27K. I talked to the sales manager and he swore they will get close to those prices. Seems very high to me but I was amazed!!

Jabberwock

I have been checking prices and looking to buy an SC for last few weeks - prices seem to be the same as when I looked 2 years ago....almost like the car has not seen any loss in value over last two years. Maybe it is because they are relatively rare?

tuterz

iTrader: (11)

that sounds about right for a dealership.. i looked at sc430 prices for like over 6 months before i bought mine..

scdroptop

iTrader: (1)

Yep, seems about right compared two what's here in Dallas. I don't think the prices have changed that much on the 2002's. There is sometimes a bottom threshold on luxury cars...I saw something similar when I was shopping for 911's. The deals are typically in the newer years...for instance...why would you buy a 2002 with 21k on it for $27k when you can buy a 2006 with 50k for same price? At this point it's all about condition, maint history, CPO, colors, etc. Love this topic!!! I sold my 2002 with 25k in August of 2009 for $25k!!!

Here are some in my hood:

http://www.sewell.com/web/inventory/.../All_vehicles/

Kira X

iTrader: (24)

That's pretty high. I've seen 02's go for $15,000-$20,000 depending on condition, mileage, and mods if there are any.

grabber2

Rare & weaking US dollar currency are most likely the reasons. The 2002 might have reach its bottom USED market price. instead of depreciate in thousands annually, its in hundreds now. International export dealer were jacking up USED car price with the advantage of the weaking US dollar. US used car are far less than those in Asian/East Europe.

As long as it in good condition, even a 1995 Civic can go for $5000. Cars thats discontiuned tend to hold their price extremely well too. Remember the RX-7 FD, NSX, Supra, & Integra Type-R? The sc430 may not be strong as the above but its still a nice car with a nice V8 & hardtop convert. much better than a 2002 Boxster

scdroptop

iTrader: (1)

I also think that car manufacturers have had to "update" models quicker to be more competitive. This creates a candyland of great 2-3 year old used cars still under warranty for people to buy. Some great buys today: 2-3 year old Genesis, 4 year old LS460, 4 year old S-Class...5 year old Range Rover. Some of these cars, even the ones traditionally known as solid depreciation cars are STEALS right now. I just looked at a 2007 LS for $35k. Wow!

Our # 1 complaint about the SC (that it didn't change much) is actually a plus for those who have a 2002-2005 model because the 2006+ isn't drastically different to the average consumer looking at a pre-owned SC. To some the manumatic, face lift and tails, bluetooth and updated nav would be HUGE but to others just looking at price or color or mileage might not care at all if they buy a 2004 or 2006 for the right price.

MFG like Hyundai and Kia have put some pressure on lower models of the big three Japanese MFG and other cars like the CTS new body, G37 and IS models from Lexus have bit into traditional leaders in the sedan segment like the 3 series and C classes...hence creating a strong demand for used cars. As you all know...demand increase (or supply decrease) on cars will cause price increase or in this case stabilization.

Also some other factors financially speaking (I agree with Grabber's point about weakening $$) some people have decided against buying a traditional new car at $500, $600, $700 a month and be locked into a 5 year term or even a 3 or 4 year lease, and instead are buying short term used cars due to their employment uncertainty. If you have to sell a three year old car in autotrader/cars.com/ebay/craigslist quickly because you lost your job the likelihood of you being upside is much less than a new car you just bought. People are thinking about their jobs more when buying cars now. It used to be just "what can I afford per month" now it's what if I lose my job in a year?

A good buddy of mine who ALWAYS has bought a new car every 2-3 years for him and his wife, usually MBZs for the first time traded in their four year old, paid off E-Class and SLK convertible for a three year old CPO and saved tens of thousands over new. Point is that you can get a lot for your money on a used car and have some flexibility in it if your financial situation changes.

KaiserSea1

I bought mine without much research, and had no idea that there had been any updates to the car. I do remember just checking consumer reports and MSN user reviews which claimed indestructable build quality, and that the 02-04 were hand built by an exclusive selection process, the best Toyota had. To this day, other than the updates to the lights, i cant tell the difference between an 02-2010. Two years ago buying a pristine convertable lexus that does not break, 300hp, and a great interior, for low 20s still seems like a hard to beat deal.

By now we know the quality of the machine built 430s is just as good. I just like the idea that mine was assembled by someone who was trying to outbuild MB BMW Jag, and cared about what he was building. The early SCs built before the outsorcing to China for parts may hold additional appeal for some.

kjcole

Those prices do seem just a bit high. In early June I bought my one-owner '02 with 83K miles (Texas miles, too), no accidents/issues, dealer maintenance records documenting proper care/feeding, for mid-teen $. Granted, I need to do the timing belt (which I can do myself) and I had to get new tires for Iowa's colder weather, but this car is everything that I hoped it would be. Note that they were asking more for the car (approaching $20K), but took my offer in the end. Unless independent research confirms, I tend not to believe dealers when they try to justify a seemingly high price. After all, they are not exactly unbiased.