LC500 V8s back to mid £40k by end of year?

[Flytvr]

What do you reckon - will we see LC500s being sold in the mid 40s by the end of the year?

[Malc]

the only ones on Autofraider are hugely more !

Malc

[Flytvr]

15 minutes ago, Malc said:

the only ones on Autofraider are hugely more !

Malc

Well, I did say ‘by the end of the year’. Several have appeared below £55k.

[PRT68]

I have been thinking/hoping the same. I was ready to take the plunge just as Covid etc started, and then prices increased. 

Amongst other investments I have the maximum in Premium Bonds. 

May well take half out, and partex my current car.

I'll soon be 68, and may be the last time to own a V8 before the electric future.

[talaipwros]

No, sorry.

 

Inflation is about 8%

[royoftherovers]

2 hours ago, Flytvr said:

What do you reckon - will we see LC500s being sold in the mid 40s by the end of the year?

Will Tranmere Rovers ever win the FA Cup ?

[PRT68]

Exactly this. With inflation as it is, the heavy end of the market is going to suffer big time. Small, low tax rate and low fuel consumption cars are increasing in value, and will hold their value.

5 years ago during a sale at a Toyota dealer up north, my wife bought a 4 year old 63 reg Aygo for £3780. With an extra 6000 miles on it, WBAC will now pay £4000 for it, and it will retail at £4995. Look on Autotrader. 

High tax rate cars that return less than 25 mpg are going to drop in value. 

Hope I'm right.

 

 

[Malc]

1 hour ago, PRT68 said:

I'll soon be 68, and may be the last time to own a V8 before the electric future.

there's plenty of non Lc500s about that are V8  .....  not brand new of course and possibly quite elderly BUT you coud get fabulous value for money buying an older Lexus V8 for sure AND with known reliability too of course

What's your annual mileage likely to be Paul ?

Malc

[rayaans]

Unlikely - Id say theyll stay around £52-55k 

[PRT68]

Mileage is approx 6k p/a., Malc. My days of messing with cars are over now, just want to clean and drive now.

My first choice would be an 06/07 Aston Martin V8 Vantage, but they now seem to be getting rear subframe problems, and most will need a clutch costing about £3000. Lots of other niggles too.

If the LC doesn't drop in price, I may well end up with an RCF

 

Edited May 13, 2022 by PRT68
Fat fingers

[Malc]

7 minutes ago, PRT68 said:

I may well end up with an RCF

Paul .......... there sure seems a good few RCFs around at a more sensible price than the Lc500 .......  looks a smart car too ....  but the Aston Martin might well prove to be a better investment if that's what you're seeking at that age, notwithstanding the " niggles " and rare clutch ............  hopefully it's a rare problem 

BUT breakdowns and recoveries are possibly assured with an Aston Martin, albeit under cloaked recovery truck, whereas the Lexus you just KNOW you'll be almost 100% likely to never need that breakdown truck 

Good luck with your decision whatever it may be

Malc

[RiverFred]

I am 81 and recently purchased my LC500, I purchased it for shear enjoyment especially the sound of the V8 when accelerating.  The price of the LC has gone up since I purchased it. The car is a classic and will always hold its value, besides those who purchase the LC500 are not concerned with the price of gasoline. 

[Flytvr]

1 hour ago, RiverFred said:

I am 81 and recently purchased my LC500, I purchased it for shear enjoyment especially the sound of the V8 when accelerating.  The price of the LC has gone up since I purchased it. The car is a classic and will always hold its value, besides those who purchase the LC500 are not concerned with the price of gasoline. 

So pleased you are enjoying your LC.

At £60k+ there’s a lot of competition out there,  there are really few Lexus F and LC fans around and people are getting cautious about large capacity engines. I think you are incredibly brave making the statement ‘will always hold its value’.

Finally, you’ll probably find most cars have increased in value since your purchase.

 

 

[eightk]

A Sport Plus was up at a Lexus dealer until this week at 54995 - cheapest for a while - I think they are starting to move down… but they’re rare and reliable so my guess as an owner-to-be is there’ll be a bit of downward movement this year but mid 40s is a long way off. Future classic I reckon… for as long as we’re allowed to buy petrol anyway…

[AJ500]

There were two LC for sale at main dealers last week in the mid 50s ,both with nearly 40k miles and early examples.Both appear to have sold over the past few days.

Despite comments earlier in this thread,I know the LC has many fans and there is very little competition at their price point and type of car.Clearly,we are entering very difficult times generally but I believe the people likely to buy this type of car will continue to do so.No doubt prices will fall to some extent as they get older but hopefully not by a big margin.

A J.

[Marcus63]

Having test drove the one for sale at the Bristol dealership, which I loved but thought overpriced, I have watched the price drop from 75k to 68, which seems eminently better but imho still 10 pct too high vs new.  I think prices will fall further but there will always be demand for such a great, if somewhat niche car, 

Anyway, having got a good deal, I have taken the plunge and ordered a new convertible from another dealership. Completely mad and impractical, but you only live once...  

[royoftherovers]

Welcome Mark to the house of Madness and complete impracticality.

Please tell us your story, cars you have had and now, why Lexus ?

[Marcus63]

Thanks John for your interest

not wanting to sidetrack  this thread, I have posted something in the thread 'whose got or ordered a convertible'.

[Arnett]

On 5/13/2022 at 12:59 PM, Flytvr said:

What do you reckon - will we see LC500s being sold in the mid 40s by the end of the year?

Improbable not impossible, the used market has certainly hit a level and stopped increasing and some are starting to drop. 

 

The LC isn't exactly an in demand short supply vehicle, I reckon 45ish end of year. 

End of next <40 very probable. 

[Brian R]

I'm not quite sure why some think the price is dropping. Currently, on Autotrader, the lowest price 500 is £56.5k and £57.5K for the 500h. When I cast my mind back to two key points in my ownership i.e. when I bought the car last June and again to this January, these values are both well above those then asking prices.

The evidence would tend to suggest prices are still on the up and I would further add inflation affects prices of all goods and cars either new or used will be no exception to this fact. Judge for yourself and have a trawl around new car prices let alone used prices.

I recall how many people laughed at the additional VED for cars over £40K only to now find themselves caught in yet another tax trap. Look at a now £30K car and factor 10%/pa inflation and lo and behold in 3 years time the price will be £40K. As with the personal income tax allowance, lifetime pension allowance and inheritance allowance to name a few, the £40K threshold is set to remain fixed till 2026, and I suspect beyond........

[AJ500]

Brian,

The £40k threshold for VED is now a joke and bears no resemblance to the impact it was supposed to have when it was first applied.There are very few cars available now close to £30k. I have been trying to buy an MX5 and they are now £35k for the top model.Crazy.A couple of forthcoming price increases and thats the £40k passed.

Are there any Lexus now below £40k.I see there is a 3% increase in July.

My dealer has recently sold 2 used LC (both V8) in the same week and one of those was £90k.So hopefully the demand is still there.

AJ.

 

[Brian R]

Couldn't agree more AJ and the amount of stealth taxes being introduced into our system is legion. As you say it won't be long before the majority of new cars hit the 40K mark and if new prices are on the up then so as sure as night follows day so will used.

Add to that the ongoing chip shortage and other raw material costs stoking price increases and regretfully for buyers there's only one way prices are going to head. Frankly, until demand is stifled, this scenario could play out longer than most would wish.

You know what I paid for my LC and even now I'm still sitting on a trade in profit! I never thought I would see the day when cars were/are an appreciating asset but here we are.

[RiverFred]

On 5/13/2022 at 12:54 PM, Flytvr said:

So pleased you are enjoying your LC.

At £60k+ there’s a lot of competition out there,  there are really few Lexus F and LC fans around and people are getting cautious about large capacity engines. I think you are incredibly brave making the statement ‘will always hold its value’.

Finally, you’ll probably find most cars have increased in value since your purchase.

 

 

Prices must be cheaper in the UK. I live in the USA (California) and prices are still high: 2018 $75,000, 2019 $80,000, 2020 $90,000, 2021- 2022 $100,000+ New 2022 convertibles $112,000. 

 

[malcolmw]

I think there is little chance of <£50K by end of this year. When I went to look at one of the convertible LC500s at Hedge End, they offered me £50K trade in for my Feb 2018 car (15,000mls). With their mark up this would be on sale for at least £55K.

[Arth_Vader]

I think it’s possibly wishful thinking that LC500 v8s are going to drop below 40k. I was watching the early ones for quite some time and they dipped VERY SLIGHTLY below 50 but didn’t stay there. Mine is white and was 57k in oct 21 and it was a 67 plate with 30k miles. 

People drool over it , and I get compliments in a way that only my two astons did before.  More so.  Astons are about noise and looks and the LC matches them in both.  As such the value proposition on an LC v8 vs any Aston is strong at 60k, never mind 50k or 40k and the running costs are FAR better.   

I get stopped regularly and asked about mine and people are genuinely perplexed why they are unaware of them - how can such a mega car not have been a hit?  As soon as I became aware of them I was on the hunt, and word is slowly getting out.  

I dont think the LC will be made for much longer and they will be the last of their kind.  New ones probably won’t sell as well as porches, astons or Mercedes’ so supply will stay small.