Keeping a Lexus for the long term

[Spottedlaurel]

I was going to post this in the RX section, but then I thought it applies equally to all models and other members on here might have an opinion and be considering or already doing the same thing.

After a wobbly start when I initially got a 14-reg RX 450h Advance that I exchanged, I've had my 64-reg Luxury for nearly two years now. It was on just 23,000 miles or so and one former owner when I picked it up, so pretty much as good as a car only a year or two old. The overall condition and my subsequent experience have been commensurate with that, the previous owner looked after it well and it has continued to give me excellent service. It's taken me to France once, sadly 2020's visit there was cancelled but hopefully it will go there again.

It's on a PCP which finishes in early-mid 2022. I had already made up my mind to purchase it outright at that time. Mileage is now around 42k, for obvious reasons I've done less in 2020 that I would normally have done, but even if my annual use goes up again I shall still be well under 70,000 at approaching eight years old. From memory the final figure is around £10,000, for that I'll be getting a quality car that I know and trust. At present independent dealers are asking around £15k for RXs with that sort of age and mileage, and it'll be more at a Lexus dealer (Cambridge have a 2012 Premier with 75,000 miles for just over £18k). As much as anything, I can't face handing mine back and letting them make that much out of it......

My original plan had then been to keep it for another couple of years, which would be long enough to pay off the £10,000 and make it completely mine. That would take it up to 10 years old and approaching 100k miles. My thinking was by that time the forthcoming NX would have been out for several years and available on the used market, or there'd be other alternatives, and I'd have the value in the RX to use as a deposit. Thing is, by 2024 I'll be only 5-6 years away from when I'd like to retire and do I really want to spend all that money again? Say £3-400/month, which would be better going into my pension pot, and/or the amount I save could see me retire maybe a year earlier.

So, why not keep my current RX until retirement? By then it'd be 15-16 years old and have covered 150-200k miles - shouldn't be too difficult to achieve should it? I don't have air suspension to worry about, nor a sunroof/panoramic roof. If I keep using the main dealer for servicing then I can keep the hybrid health checks and extended warranty going for most of that time, so that pretty much fixes my costs. Whatever I drive would need tyres and other consumables, whatever its age, and the money I'll be saving will more than cover any additional costs.

Economy won't be as good as a next-gen RX, Camry, RAV4 or the forthcoming NX, all of which were in my mind as potential replacements. However, some of the mileage will be business use and at 45p/mile that more than covers the 36-38mpg I usually get on work journeys.

Hopefully for much of that time I will also have my older car(s) that I can use to keep the mileage down - even if it's just 5,000 a year that's 50k in 10 years that I can keep off the RX. One of those cars at present is a 1992 LS400 which has now done 162k miles, and in the past I ran a 1996 Camry that had done almost 200,000, so I have no qualms about that sort of mileage on a Lexus/Toyota.

It's only in recent years that I've bought a relatively new car on finance. For most of my driving life I was happy to run around in whatever I could afford outright, whatever its age, but typically 10-15 years old Japanese cars (sometimes up to 30 years old). I'll be quite happy to break out of the PCP/deposit/PCP cycle, and running the other old cars means they give me some variety and the RX can just get on with doing its job.

Also, if the current plans to phase out petrol/diesel car sales by 2030 are still in place then it feels like a lot is going to change and I'm better off sticking with what I have until a clear future path is more apparent.

Sorry for the ramble, hope it makes sense. Just curious as whether anyone else is doing something similar?

[PCM]

Great read.

My RX which I have had for 6 years is almost 18 years old.

I know all its quirks - very few - and feel safe and secure in it.

 

[Spottedlaurel]

7 minutes ago, PCM said:

Great read.

My RX which I have had for 6 years is almost 18 years old.

I know all its quirks - very few - and feel safe and secure in it.

Thanks Piers. You've summed-up what I'll get to, if I sold it then someone else would still happily be using it still in 15+ years' time. It's as good a car as I'll ever need and I'll be absolutely confident in its history, so why shouldn't it be me?

[royoftherovers]

That is a stunning read Nigel. Many thanks.

I endorse all that you have said-indeed it is the philosophy I have followed with my GS and 18 year old Merc Estate.

I bought the GS in 2013 (3 years old and 17,000 miles) with the intention of it being my last purchase of a car. (75 next birthday). I was able to take out a 10 year Service Plan (fixed cost eh) for £34  monthly and have an Extended Warranty expiring in 2023.

I have really enjoyed your previous postings about your journeys to France. I`ve been driving to and from Spain twice annually for 15 years in the Diesel Merc and could identify with your postings. I bought the Merc (my Company car) when I retired in 2005) so I can support your decision to buy the RX at the termination of the PCP.

May all of your drives be happy ones. Have a good New Year if at all possible.

[ALAW]

Fabulous post Nigel . I concur with everything your saying.  I'm also in a similar situation with my UX bought hopefully for reliability and like you i will keep the vehicle. Retire in a couple of years my only regret now is that i should have moved to lexus before now. I used to do trips over to France (booze run) and have considered Spain (Rioja). Anyhow its Happy new year 2021 now all the best to you and other LOC members.

Brent

[Spacewagon52]

As David Jason would say, “You know it makes sense!”

[paulrnx]

Ha! A subject close to my own heart. I’ll be retiring in 2-4 years time and before normal retirement age. Hopefully. I’m on my 17th car in the last 18 years. I’ve tended to change whenever I’ve wanted to and devised the man maths to support the need to change and created some ‘believable’ reasons to support said changes. Had some lovely cars including some very quick cars. And yet now as I approach retirement I realise that I’ve wasted quite a bit of money on cars. I intend to keep my current NX and see what mileage and age I can run it out to. The only other thing I might do is have a convertible in the garage for fun when I do retire. This way I can put more money towards retirement. I can fully understand the dilemma and it sounds like this RC is a lovely car so, yes, why not keep it. A chance to test the legendary Lexus quality and reliability we all state we enjoy! 😀

[Spacewagon52]

On 1/1/2021 at 6:45 PM, paulrnx said:

Ha! A subject close to my own heart. I’ll be retiring in 2-4 years time and before normal retirement age. Hopefully. I’m on my 17th car in the last 18 years. I’ve tended to change whenever I’ve wanted to and devised the man maths to support the need to change and created some ‘believable’ reasons to support said changes. Had some lovely cars including some very quick cars. And yet now as I approach retirement I realise that I’ve wasted quite a bit of money on cars. I intend to keep my current NX and see what mileage and age I can run it out to. The only other thing I might do is have a convertible in the garage for fun when I do retire. This way I can put more money towards retirement. I can fully understand the dilemma and it sounds like this RC is a lovely car so, yes, why not keep it. A chance to test the legendary Lexus quality and reliability we all state we enjoy! 😀

Another AutoTraderholic!

[royoftherovers]

12 minutes ago, Spacewagon52 said:

Another AutoTraderholic!

That Ls 400 in your Avatar has a sunroof ?

[Spacewagon52]

12 minutes ago, royoftherovers said:

That Ls 400 in your Avatar has a sunroof ?

Confused.com 

Your point?

[royoftherovers]

12 minutes ago, Spacewagon52 said:

Confused.com 

Your point?

Is that your LS400?

[Malc]

On 12/31/2020 at 10:47 AM, Spottedlaurel said:

Also, if the current plans to phase out petrol/diesel car sales by 2030 are still in place then it feels like a lot is going to change and I'm better off sticking with what I have until a clear future path is more apparent.

take a leaf from my book maybe

plenty of £££ to buy almost any car I could wish for BUT have been driving a Ls400 for some 20 years and this current Mk3 for 9.5 years

what finer car could one wish for I wonder

simply sublime to drive, fast, quick, comfortable, great mpg and zero depreciation ................  a 4ltr limo that's probably one of the, if not THE most reliable marque / cars on the road

why on earth would i ever want to change it ................ 

Malc

[royoftherovers]

Just now, Malc said:

take a leaf from my book maybe

plenty of £££ to buy almost any car I could wish for BUT have been driving a Ls400 for some 20 years and this current Mk3 for 9.5 years

what finer car could one wish for I wonder

simply sublime to drive, fast, quick, comfortable, great mpg and zero depreciation ................  a 4ltr limo that's probably one of the, if not THE most reliable marque / cars on the road

why on earth would i ever want to change it ................ 

Malc

Game,Set and Match.Malc wins again !

[paulrnx]

57 minutes ago, Spacewagon52 said:

Another AutoTraderholic!

What a game! So many different permutations. Today I have a max of £3k to spend on a convertible. What would I buy? 😀

[royoftherovers]

6 minutes ago, paulrnx said:

What a game! So many different permutations. Today I have a max of £3k to spend on a convertible. What would I buy? 😀

Lexus SC430 Paul,it is the best of both Worlds

Join Lexusworld.com

Look carefully, spend wisely and take your time.

[Spacewagon52]

1 hour ago, paulrnx said:

What a game! So many different permutations. Today I have a max of £3k to spend on a convertible. What would I buy? 😀

I agree with John, my ultimate convertible would be the SC430. But 3K will not be enough for one.

MX5 springs to mind

[royoftherovers]

10 hours ago, Spacewagon52 said:

I agree with John, my ultimate convertible would be the SC430. But 3K will not be enough for one.

MX5 springs to mind

Yes Davey, MX5 with a removeable hard top and rust free bottom would be a good alternative.

Paul has had (I think) 17 cars in last 18 years, so my guess is that once he becomes attracted to SC430, his 3K will become 7 or 8k !

We watch with interest.

[westo3]

1 have been retired for 15yrs (retired at 55) and have moved to France bought the Lexus for driving long distance which I still find amazing even after several hours I still want to keep on driving. It is defiantly going to be my forever car. For £3000 how about  an Audi TT? I know that they take a lot of stick re “hairdresser, car” etc but I bought a Mk1 1800 ( bullet proof golf GTI engine with a turbo and paddle shift) great fun, loved it but traded it in for a Mk.1 3.2 V6 convertible manual as they are fairly rare and just might go up in price long term. It goes like stink, 4 wheel drive and sounds fantastic, great for the French country roads in the sunshine! Bought a boot sticker which says “ There are no hair products kept in this car overnight” not too sure if the French get it but raises a chuckle when I am in England

[royoftherovers]

9 minutes ago, westo3 said:

1 have been retired for 15yrs (retired at 55) and have moved to France bought the Lexus for driving long distance which I still find amazing even after several hours I still want to keep on driving. It is defiantly going to be my forever car. For £3000 how about  an Audi TT? I know that they take a lot of stick re “hairdresser, car” etc but I bought a Mk1 1800 ( bullet proof golf GTI engine with a turbo and paddle shift) great fun, loved it but traded it in for a Mk.1 3.2 V6 convertible manual as they are fairly rare and just might go up in price long term. It goes like stink, 4 wheel drive and sounds fantastic, great for the French country roads in the sunshine! Bought a boot sticker which says “ There are no hair products kept in this car overnight” not too sure if the French get it but raises a chuckle when I am in England

Nice readable Post Nick.

Can the Audi TT be had as a convertible?

The VW Cabriolet ---a really professional soft top job as a Golf or Beetle..

[Spacewagon52]

4 wheel drive Audi = £££££££££ or Euros!

[Spacewagon52]

14 hours ago, royoftherovers said:

Is that your LS400?

Yes? Still confused?

[westo3]

Bought both in the UK so £s. They are a lot more expensive in France in fact most 2nd hand cars in France are more expensive  than in the UK I think it is something to do with France having far less company cars which tend to dilute UK second hand car market prices.

[royoftherovers]

2 hours ago, Spacewagon52 said:

Yes? Still confused?

Yes, please enlighten me.

[royoftherovers]

59 minutes ago, westo3 said:

Bought both in the UK so £s. They are a lot more expensive in France in fact most 2nd hand cars in France are more expensive  than in the UK I think it is something to do with France having far less company cars which tend to dilute UK second hand car market prices.

Likewise in Spain.

[true blue]

Hi good read on keeping cars  no problem if they are looked after ;another vote here for MX5 for fun open top motoring ,I have been a member of the MX5 owners club for over 18 years and driven all over Europe in them .£3000 is the lower end of the Mk 3 NC model ,2 litre ford engine and very reliable which I think would fit the bill .The only problem is rust ensure your have it up in the air and check .I bought one of the first in Dec2005 a friend of mine still runs it and it has never given any problem ,my current one is 10 years old powered hardtop and runs like a Swiss watch ;sailed through the MOT never even had an advisory on any MOT .Just hope now some normality may return so we can use our cars again 

Dave