3 Used Lexus Models That Are Still Affordable Even in Today’s Pricey Market
These three Lexus models made the cut among the 21 best bargains in today's used vehicle market.
Needle In a Haystack
Used vehicle prices in general reached new record heights over the past few years, and even today, remain inflated amid strong demand. This is obviously good news for those trying to sell a vehicle, but if you're looking for one, well, it's certainly difficult to find a good deal - or just something that's relatively affordable. Luckily, iSeeCars' latest list of the most affordable and unaffordable used vehicles was just released, and the former part of that list contains a total of three Lexus vehicles that are still a good deal.
Photos: Lexus
Methodology
To come up with this list, iSeeCars analyzed interest rate and household income data from October 2022 and September 2023, then used it to determine which three-year-old used vehicles meet its Affordability Index of 100. An index value of 100 means that household income is equal to the idealized income for a car purchase, while a higher value means a vehicle is more affordable and a lower value means that it's unaffordable. iSeeCars then ranks used vehicles by the percentage a vehicle is below this threshold to determine which are the most affordable.
Photos: Lexus
Affordable: Lexus IS 300
First up, we have the Lexus IS 300, which ranked 10th on this particular list thanks to the fact that it's 4.1 percent below the affordability threshold. The IS 300 has lost 4.7 percent of its value since October 2022 - a rare feat in today's wild market - and touts a current three-year-old average price tag of $31,993.
Photos: Lexus
Affordable: Lexus UX 250h
Next up, we have the Lexus UX 250h, which ranks 19th on the list with a price that's 1.3 percent below the affordability threshold. This particular model has lost 9.9 percent of its value since October 2022 and currently has an average three-year-old used price of $32,931.
Photos: Lexus
Affordable: Lexus NX 300
Finally, the Lexus NX 300 also made the cut as the 23rd most affordable used vehicle thanks to the fact that it came in 0.1 percent below the affordability threshold. The luxurious crossover has declined 3.9 percent in value since October 2022 and had an average price tag of $33,352 for a three-year-old used example.
Photos: Lexus
Overall Market
Overall, used vehicle affordability finally improved - by 5.8 percent - over the past year compared to the prior three or so years, thanks to a variety of factors. Even though interest rates have soared, household income increased by 3.7 percent, and used car prices declined by 5.4 percent. Meanwhile, new vehicle affordability has worsened by 6.8 percent, which means that we might finally be back to a point where buying a used vehicle is the smarter financial choice - as has historically been the case.
Photos: Lexus
