looking at getting my first Lexus - IS300h

[Bounce75]

7 minutes ago, David lings said:

Sat quiet today to reflect on Monday.

First the comment that the Lexus does not accelerate but glides In must admit is a pertinent point.

Talking to a friend with a Lexus it would seem the dealers, perhaps rightly, think the cars sell themselves, so all they have to do is sell as many options as possible.

This would perhaps better describe my experience.

However, the whole thing has left me disappointed and less interested in buying Lexus at present.

The dealer I went to is 30 miles south and we have another dealer approx same distance north.

I will take your suggestion to try a different dealer if the Lexus Is reconsidered.

one other point.

Does anyone have any experience of depreciation of a Lexus IS300h.

I told the dealer no financial deal required as it would be a cash sale.

When I returned from the test drive they asked if I wanted to see the deal they had put together.

All this turned out to be was a hire purchase deal with high interest rates and a PCP deal both with optional extras included.

Also my is200 had suddenly gone from having some trade in value to costing me £20 if I wanted them to dispose of it. A though perhaps £250 to help seal the deal as nothing off the asking price but not so - oh the disappointment!!!!!

The PCP deal claimed to offer the very best trade-in value after 3 years. A 2017 car would lose £10.5k in three years.

It seems a lot but is in line with my friends experience who comments his car is depreciating at a greater rate than is repayments.

Anyone experienced such a high depreciation.

David

 

 

I can't really speak for Lexus, but my V40 cost £30k new with extras, I paid £18k when it was 5 months old/5,000 miles, I kept it for 5 years & Lexus gave me £7.5k with32,000miles on it in immaculate condition. That would be quite a loss if you bought it new.

I hope my IS300h holds its value a little bit better, although I bought it pre-reg with 6 miles on the clock with quite a discount from new so happy with that, I have decided if the price drops too much I will just keep hold of it as I am hoping it will live up to its reputation as being one of the most reliable cars on the road.😃

Good luck with whatever you decide, but I would urge you to try another dealer & believe me there will be movement on the price even with cash, I know because I managed it.

[Thackeray]

16 hours ago, David lings said:

Does anyone have any experience of depreciation of a Lexus IS300h.

...

Also my is200 had suddenly gone from having some trade in value to costing me £20 if I wanted them to dispose of it. A though perhaps £250 to help seal the deal as nothing off the asking price but not so - oh the disappointment!!!!!

The PCP deal claimed to offer the very best trade-in value after 3 years. A 2017 car would lose £10.5k in three years.

Here's a report on car depreciation which puts the IS300h at retaining 51% of its value after three years but in cash terms losing nearly £18,000 - that's £6,000 a year, which of course is best borne by companies who can set it against tax.

And the report seems to imply that almost all other cars are worse than this!

So if you're buying a used car with cash, the only time you have any control over the depreciation is the moment when you buy it. If you pay too much, that's an instant loss which can never be made up.

But the good news is that when you're buying, this is the only moment when you're in control of the costs - if it's too expensive, walk away.

On the other hand, as you've found, when you're selling you have no control at all. And in any case, the numbers on an old car are so low that any improvement in the offer will have a minimal impact on the depreciation over the period you've owned the car.

So waiting to find the right buying price is the way to reduce depreciation. You don't get a second chance.

It used to be that you might get a good deal if you could time buying the car at the end of the firm's accounting quarter when they're under pressure to meet selling targets. So that might be at the end of December, March, June. Maybe someone has inside information on whether that's still the case.

[Phil xxkr]

1 hour ago, Thackeray said:

Here's a report on car depreciation which puts the IS300h at retaining 51% of its value after three years but in cash terms losing nearly £18,000 - that's £6,000 a year, which of course is best borne by companies who can set it against tax.

And the report seems to imply that almost all other cars are worse than this!

So if you're buying a used car with cash, the only time you have any control over the depreciation is the moment when you buy it. If you pay too much, that's an instant loss which can never be made up.

But the good news is that when you're buying, this is the only moment when you're in control of the costs - if it's too expensive, walk away.

On the other hand, as you've found, when you're selling you have no control at all. And in any case, the numbers on an old car are so low that any improvement in the offer will have a minimal impact on the depreciation over the period you've owned the car.

So waiting to find the right buying price is the way to reduce depreciation. You don't get a second chance.

It used to be that you might get a good deal if you could time buying the car at the end of the firm's accounting quarter when they're under pressure to meet selling targets. So that might be at the end of December, March, June. Maybe someone has inside information on whether that's still the case.

 

[Phil xxkr]

Just now, Phil xxkr said:

 

I wonder why we all spend a huge amount of time looking and learning about our cars in microscopic detail yet spend hardly any on learning about car salesman tactics and how various finance options affect your actual versus perceived cost of ownership. Yet spending some time on this will make you the buyer and not being sold to - a big difference. Loads of insight on YouTube especially Kevin Hunter and his video on Leverage. Guaranteed to make you more confident and knowledgeable.