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

[96spec]

I didnt really appreciate it until recently.

https://www.gov.uk/vehicle-tax-rate-tables

"You have to pay an extra £390 a year if you have a car or motorhome with a ‘list price’ (the published price before any discounts) of more than £40,000. You do not have to pay this if you have a zero emission vehicle.

You only have to pay this rate for 5 years (from the second time the vehicle is taxed)."

So effectively the extra 390£ is paid only for 5 years after the 1st year. So it reduces quite a lot after the car turns 6years old.

 

[DavidCM]

51 minutes ago, 96spec said:

 

So effectively the extra 390£ is paid only for 5 years after the 1st year. So it reduces quite a lot after the car turns 6years old.

 

The first set of cars affected by this surcharge will drop out of this arrangement this year.What are the likely odds for this to be changed by HM Treasury?

[96spec]

I have to admit that 15£ RFT per month is insanely low - especially for this vehicle but hey ho 🙂

[eightk]

1 hour ago, DavidCM said:

The first set of cars affected by this surcharge will drop out of this arrangement this year.What are the likely odds for this to be changed by HM Treasury?

Problem they’ll have is every car with an engine was lumped into the same 180-odd quid a year bracket so they’d have a heck of a job working out who should be taxed more. I think they had three bands - petrol and diesel, hybrid and lpg, and electric only at zero pounds… for now. A one litre Skoda is the same tax as a 5 litre LC once the LC drops out of the five year Lux tax bracket. Oops. 

[PRT68]

This is going to make a difference in RCF values, when pre 18 models are going to cost considerably more to tax.

[96spec]

6 minutes ago, PRT68 said:

This is going to make a difference in RCF values, when pre 18 models are going to cost considerably more to tax.

You mean RCFs that drop into Cars registered between 1 March 2001 and 31 March 2017 ? So thats £59 pm or 708pa?

 

[PRT68]

Yes. I realise that many people that can spend £40k on a car can also afford to tax them, but post 17 models will be favoured more. 

Similar to IS250 manual verses auto's. 

Edited May 3, 2023 by PRT68

[Malc1]

Jeez ......  surely no one's bitching about Road Tax when they're spending £40k + on a car ..........  go buy a 40 year old classic of some sort for that same money, or considerably more, and the road tax and MOT needs vanish 

Malc

[DtoTheM]

Wait till people spot the MPG... 

[Arth_Vader]

It’s all about the total cost of ownership, when everything else is skyrocketing in price you want to save where you can.

With a new car you get taxed to the hilt, and lose large amounts in depreciation, but you get a free warranty to cover you for big bills.  

With an older car that you actually drive regularly, you lose less in depreciation but risk whopping bills. So you probably want a warranty, but they ain’t cheap either. Pre 2017 tax can be expensive on the wrong car.  My 2013 ISF was over 600 a year in road tax, now probably closer to 700 with inflation. I think a Lexus warranty was 500 a year.

A 2017 LC is surprisingly cheap to run.  Hardly any road tax as your past the 5 year period and a warranty thrown in with a service.  Mpg isn’t bad.

Not sure about depreciation yet…..but I’ve definitely had worse.

 

 

[Casa1862]

All the talk here is about the 5.0lt LC500, any views on the LC500h? Running costs are important particularly as it maybe your only car.  The LC500h still seems reasonable performance with reduced running costs, still get the looks, quality materials and possibly easier to live with on a daily basis? 

[DtoTheM]

57 minutes ago, Casa1862 said:

All the talk here is about the 5.0lt LC500, any views on the LC500h? Running costs are important particularly as it maybe your only car.  The LC500h still seems reasonable performance with reduced running costs, still get the looks, quality materials and possibly easier to live with on a daily basis? 

I've not driven one but read some reviews of both and there never seems to be a reason to go for the 500h, fuel is cheaper (slightly) that's the only benifit, everything else is either the same or less than the 500. Not sure what makes the h easier to live with?

Just don't see there's a huge market for people who want an expensive car but compromised to slightly lower the fuel bill?

I guess you have 2 cylinders to service? 

[Casa1862]

I was referring to the hybrid drivetrain when talking about easier to live with, it’s very smooth and great in city traffic where if used as a daily the car will spend most of its time in, also the urban figures are more than slightly different 38.7 vs 16.2 mpg, is the V8 figure wrong for urban city driving? seems a massive difference, however figures are from Autotrader so could we’ll be out.

[Jgtcracer]

3 hours ago, Malc1 said:

Jeez ......  surely no one's bitching about Road Tax when they're spending £40k + on a car ..........  go buy a 40 year old classic of some sort for that same money, or considerably more, and the road tax and MOT needs vanish 

Malc

I think it may be an issue when someone with a budget of £25-30k is in the market, same with ISF.  The cars get cheaper and cheaper to buy, making them r accessible for people with a tighter monthly income.  My car is an 18 plate so will benefit from cheaper tax in a year or so, might be good for 2nd hand prices, might not.  It is orange after all!!
 

You can buy a Golf for the same price as and RCF, doesn’t mean you should. I was always told, if you can’t afford to run it new, you are probably going to struggle used!  It’s why I didn’t buy an Aston Martin, and got a Lexus instead.

[Arth_Vader]

1 hour ago, Jgtcracer said:

I think it may be an issue when someone with a budget of £25-30k is in the market, same with ISF.  The cars get cheaper and cheaper to buy, making them r accessible for people with a tighter monthly income.  My car is an 18 plate so will benefit from cheaper tax in a year or so, might be good for 2nd hand prices, might not.  It is orange after all!!
 

You can buy a Golf for the same price as and RCF, doesn’t mean you should. I was always told, if you can’t afford to run it new, you are probably going to struggle used!  It’s why I didn’t buy an Aston Martin, and got a Lexus instead.

You’re not the RCF owner I met in Eyemouth at Easter are you?

[eightk]

One of the massive draws of the LC is the engine... in my humble opinion.

No turbos, incredibly technical-sounding turbine smooth V8 and a really clever gearbox. I remember watching Matt Watsons launch review of the LC - he was playing tunes on the h CVT gearbox. Then he drove the V8 and fell in love with it. I haven’t tried an h but I’ve driven other hybrid CVT lexuseseses and it’s not a sports car drivetrain. If the looks, quality and everything else the LC offers are the main appeal I don’t see any downside of the h, especially as an everyday driver, but it’s not for me.

New golf or RCF or LC? No contest. Aston or LC? Maybe 50/50 until you sit in it, then it’s the LC every time. 

Tax at 30-40 grand does annoy but is irrelevant really in the overall scheme of things but when you get down to a 2007 Laguna 3 litre being advertised for fifteen hundred quid and realise 700 annual tax is half of asking then you’ve got big problems. Unsaleable I reckon. My Maserati was a painful 700 quid, the LC is 500-something but it’ll drop down to 2017 levels in a few years. The 700 annual tax cars will be at a grand a year by then, possibly more.

[DtoTheM]

12 hours ago, Jgtcracer said:

I think it may be an issue when someone with a budget of £25-30k is in the market, same with ISF.  The cars get cheaper and cheaper to buy, making them r accessible for people with a tighter monthly income.  My car is an 18 plate so will benefit from cheaper tax in a year or so, might be good for 2nd hand prices, might not.  It is orange after all!!
 

You can buy a Golf for the same price as and RCF, doesn’t mean you should. I was always told, if you can’t afford to run it new, you are probably going to struggle used!  It’s why I didn’t buy an Aston Martin, and got a Lexus instead.

TBH most modern cars if your talking usual running costs aren't hugely varied, main services are fairly standard. Where it gets more costly are when the fancy things break...

or tyres! It's a pet hate of mine to see expensive cars on bad tyres and if a car I'm looking at isn't on something sensible then it's an instant no because I can tell just how (un)cared for the car has been if they're saving money on tyres.

 

(Not a tyre snob doesn't have to be stupid expensive things just not budget nonsense!)

[Jgtcracer]

20 hours ago, Arth_Vader said:

You’re not the RCF owner I met in Eyemouth at Easter are you?

I don’t think so, there is a black one local to Eyemouth but haven’t spoken to him.  In a little in land, still local though.  Are you around the area or just visiting?

[Jgtcracer]

8 hours ago, DtoTheM said:

TBH most modern cars if your talking usual running costs aren't hugely varied, main services are fairly standard. Where it gets more costly are when the fancy things break...

or tyres! It's a pet hate of mine to see expensive cars on bad tyres and if a car I'm looking at isn't on something sensible then it's an instant no because I can tell just how (un)cared for the car has been if they're saving money on tyres.

 

(Not a tyre snob doesn't have to be stupid expensive things just not budget nonsense!)

Yea but once you get into the premium market the prices do sneak up a bit and parts such as brakes/tyres etc could wipe someone out.  I too agree with tyres, there seem to be loads of £70-£80 tyres knocking about nowadays.  Does give an indication of the maintenance budget a car has been treated to

[DtoTheM]

1 hour ago, Jgtcracer said:

Yea but once you get into the premium market the prices do sneak up a bit and parts such as brakes/tyres etc could wipe someone out.  I too agree with tyres, there seem to be loads of £70-£80 tyres knocking about nowadays.  Does give an indication of the maintenance budget a car has been treated to

Indeed, although discs and pads you can usually buy and fit yourself for a decent saving even with OEM parts.

[DtoTheM]

A new yellow base model with 40k miles has popped at 55K, this could be interesting, if it sells quickly then I think that will apply a lot of pressure on the high mileage yellow one to lower it's price and thats the one that seems to be propping them all up.

 

Also has a tan interior, very nice

[eightk]

I’m increasingly thinking it doesn’t work like that because there’s so few cars.

Yellow and tan base car sells, yellow high miles sport stays at the same price - they don’t seem in any rush to shift it. My favourite colour too!

Or they could hack ten grand off it, it sells instantly, then the other cars for sale… errr… stay at the same price. I think the way the trade works is they have a price cutting plan over weeks or months, then when it doesn’t shift at their rock bottom almost zero profit lowest price they either sit on it at that price or swap it into trade. There was another yellow car with 44/45k miles that went through two Lexus dealers and an independent before it disappeared. A structural blue car I looked at dropped more than ten grand I think before eventually selling, but it put no pressure on the prices of other cars as far as I could tell.

Mine had to be a done deal by the end of the month according to the dealer. There were two similar cars on the market, my black interior, and a red interior car, both have now sold, there’s nothing comparable and the prices of the newer cars aren’t moving despite few sales. Supply and demand doesn’t seem to work very well in a very small market.

The odd car pops up, seems good value and quickly disappears eg a very recent green over tan convertible - that went in literally days, whereas others just stick.

[DtoTheM]

49 minutes ago, eightk said:

I’m increasingly thinking it doesn’t work like that because there’s so few cars.

Yellow and tan base car sells, yellow high miles sport stays at the same price - they don’t seem in any rush to shift it. My favourite colour too!

Or they could hack ten grand off it, it sells instantly, then the other cars for sale… errr… stay at the same price. I think the way the trade works is they have a price cutting plan over weeks or months, then when it doesn’t shift at their rock bottom almost zero profit lowest price they either sit on it at that price or swap it into trade. There was another yellow car with 44/45k miles that went through two Lexus dealers and an independent before it disappeared. A structural blue car I looked at dropped more than ten grand I think before eventually selling, but it put no pressure on the prices of other cars as far as I could tell.

Mine had to be a done deal by the end of the month according to the dealer. There were two similar cars on the market, my black interior, and a red interior car, both have now sold, there’s nothing comparable and the prices of the newer cars aren’t moving despite few sales. Supply and demand doesn’t seem to work very well in a very small market.

The odd car pops up, seems good value and quickly disappears eg a very recent green over tan convertible - that went in literally days, whereas others just stick.

The difference I see is there are now a few other cars (esp that main dealer) sat at or just under 50k, if Lexus are selling a white sport plus with 62k miles on for 52k who wants a yellow one for 50 that's at 80,000 miles? especially one thats sat for 9 months! Main dealer cars are usually more attractive but have higher purchase prices. With that yellow they're clearly not in a rush to sell it but the market is only moving down. I guess ultimately they don't care what the market does, they're an independent,  that car could get sold to someone who walks past the showroom tomorrow and they're happy. Buyers seem to be savvy to the market from what I can see which is going to cause reductions eventually.

[Arth_Vader]

22 hours ago, Jgtcracer said:

I don’t think so, there is a black one local to Eyemouth but haven’t spoken to him.  In a little in land, still local though.  Are you around the area or just visiting?

I was visiting my folks in Berwick in a white LC - when I was on dock road in Berwick I saw an orange RC in the distance…?

[Jgtcracer]

1 hour ago, Arth_Vader said:

I was visiting my folks in Berwick in a white LC - when I was on dock road in Berwick I saw an orange RC in the distance…?

Yes!  That was me, I noticed you too.  Your plate seemed to be inspired by potatoes??

Interestingly someone mentioned to me at work the next day that they saw some “fancy Lexus” parked under the new bridge.  Are you in the area often?