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

[MattyJB]

On 10/22/2023 at 6:50 PM, DtoTheM said:

Mmm a red sport with only 6000 miles on for 55k not bad!

This one is of real interest to me...not so much that particular car, but as a general market benchmark. Still there after a week. Been watching the LC500's for a bit hoping to see a few <50k choices over the winter.

Maybe not the place to ask it, but while I'm here - regarding the LC500 warranty, what are the rules to extend the warranty? Needs to be full Lexus SH? Does it need to be inspected before carrying on the warranty (like Porche and Merc do if there is any break in warranty cover?)

[DtoTheM]

8 hours ago, MattyJB said:

This one is of real interest to me...not so much that particular car, but as a general market benchmark. Still there after a week. Been watching the LC500's for a bit hoping to see a few <50k choices over the winter.

Maybe not the place to ask it, but while I'm here - regarding the LC500 warranty, what are the rules to extend the warranty? Needs to be full Lexus SH? Does it need to be inspected before carrying on the warranty (like Porche and Merc do if there is any break in warranty cover?)

Completion of a service with no raised issues gives you an additional year of warranty I believe. So you don't need a full Lexus SH but you need a service to them activate the warranty I believe. I think I'm right in saying it's non transferable so if it was serviced before purchase you need to service it yourself to get the warranty. Or that's what I've been told.

[eightk]

The ‘transferability’ is a good question actually - I’d think if it had been serviced it’d get 12 months warranty irrespective of ownership changes?

Mine hasn’t been serviced since I bought it and I’d be seriously pee’d off if it wasn’t covered.

[ColinBarber]

17 hours ago, DtoTheM said:

I think I'm right in saying it's non transferable so if it was serviced before purchase you need to service it yourself to get the warranty. Or that's what I've been told.

No that's incorrect, warranty stays with the vehicle:

Transferability of the Additional Warranty

22. The Additional Warranty is transferable to subsequent owners of the vehicle but not transferable to another vehicle. The Additional Warranty follows the vehicle not the customer, provided that the maximum mileage count and/or Additional Warranty period have not been exceeded.

https://www.lexus.co.uk/content/dam/lexus/nmsc/united-kingdom/owners/warranty/extended-warranty-with-servicing/150623-LEXUS-WARRANTY.pdf

[DtoTheM]

11 minutes ago, ColinBarber said:

No that's incorrect, warranty stays with the vehicle:

Transferability of the Additional Warranty

22. The Additional Warranty is transferable to subsequent owners of the vehicle but not transferable to another vehicle. The Additional Warranty follows the vehicle not the customer, provided that the maximum mileage count and/or Additional Warranty period have not been exceeded.

https://www.lexus.co.uk/content/dam/lexus/nmsc/united-kingdom/owners/warranty/extended-warranty-with-servicing/150623-LEXUS-WARRANTY.pdf

Interesting, I'd been told both, independent dealer said it was, Lexus dealership said it wasn't! Anyways as long as the car is solid then it's all good

[MattyJB]

I know it's not the V8, but if you want that LC500 quality but also love trees and have a max budget of £40k, you're in luck:
https://www.autotrader.co.uk/car-details/202309182118547

Might want to carefully check the history/condition/warranty status and how much it's been modified (Maxton kit, plus mid-range tyres and some tints (maybe?) - but still, thats a LOT of car for Electric Vauxhall Corsa money.

[rsdave]

Definitely seems to be a huge dip in prices this month, perhaps it's just seasonal?. I have been dipping my toe in the water to sell my LC500 as it's not getting the use it should lo justify keeping it.
It's a Red 2019 LC V8 with 3369 miles on it and  "better than showroom" condition. I thought I'd start by calling the dealer I purchased it from as they're aware of it's amazing condition and  I thought they might like it back. But I hadn't even finished my 
sentence or got to a price I had in mind when the guy on the other end of the phone said "Nope, don't want it, thanks for calling, goodbye". Hmm, nice. On their website they have just 1 LC in stock across the entire group franchise at the moment.
I then tried a number of those "we buy your car now" things and surprisingly many of them didn't want it either.  Those that did give prices were ridiculously low and still subject to change on inspection.
I tried to P/X at a BMW dealer and they didn't want to touch it "there's no market for big V8 engined cars at the moment, sorry.."

Seems like a great time to buy but terrible time to sell so I'll probably keep it for a while to see if things perk up.

If the other thread I posted about LC production ending for Europe early next year is true I wonder if that will help prices for low mileage, mint examples. Time will tell.

[Malc1]

I’m quite sure there’ll always be a market for V8s   There’s aficionados galore with the money the will and the skill to have one …… and enjoy it hugely 

The price and value reflects the trade-off between he who wants to buy and the seller’s perception of value …… the challenge is the profit margin any middleman dealer thinks he can screw from the next buyer ……. True Value is going to always be at the Auction ….. if you dare …….. they can be fun and rewarding to attend and occasionally need nerves of steel 🥵

Good luck with your dilemma 

Malc 

[BrettMRC]

I think I sold mine about a month before the stagnation set in, and that was early July...

Winter is never a good time to sell cars, and the nearer you get to Christmas the worse it gets.

I think LC500s are generally safe to hold on to, as although there have been various model year revisions there are pros and cons to each. (Earlier cars sounds better, later cars have nicer infotainment etc)

I can't ever see LC500's hitting the same depths as the Soarers or SC430s did pricewise.

 

[Brian newman]

Buying one of these , last of the petrol line, is not about depreciation..its about rarityand long term appreciation

[Malc1]

1 hour ago, Brian newman said:

Buying one of these , last of the petrol line, is not about depreciation..its about rarityand long term appreciation

Long term eh !  20/30 years hence   Best to use it as much as possible and maintain it well and then your heirs might inherit some useful “ value “ …… if they like Lexus 

Its simply a car to be enjoyed when one can 🤔

Malc 

[MattyJB]

It's not just LC500's - it's the market in general, especially across the premium/luxury/sports range. I've been keeping an eye on various cars, and they're all dropping dramatically in price. Combination of time of year (winter) and also an economic dip.

Plenty are saying we'll see a correction in Spring, but I don't think it's be a correction in terms of an uptick in price; those days are long gone. I think things will just simply stabilise.

[Boomer54]

Summarises the situation.

Used car prices have been in decline since April - is your model among the biggest fallers? | This is Money

[Malc1]

You're going to be a rare person to witness any uplift in your car's value over short or long term ..........  buy your cars and enjoy them as much as possible and don't concern about values .  it's the car you want and to simply ENJOY  .............. 

Its always going to be the dealers and the financiers that will be making any money out of cars ............. your money into their pockets and you holding that piece of metal that you want to invest chunks of your ££££ into  ............. it will always work for them but rarely for the owner of the car  ....  enjoy the cars as much as possible 

Malc

[shapiro]

Totally agree with Malc. Buy your cars. and be sure you are comfortable with them shedding value in return for joy. 
 

If I lost 10k a year over 5 years but managed to do 10 road-trip oriented vacations into Europe, plus the usual daily smiles for miles… I think it’s money well spent. 

 

[Malc1]

8 minutes ago, shapiro said:

Totally agree with Malc. Buy your cars. and be sure you are comfortable with them shedding value in return for joy. 
 

If I lost 10k a year over 5 years but managed to do 10 road-trip oriented vacations into Europe, plus the usual daily smiles for miles… I think it’s money well spent. 

 

And if one’s very worried about the ££££ depreciation it’s probably quite sensible to buy a well maintained not very old used car that you really really want and then that £10k a year “ cost” might become only £5k a year …… and improve one’s Bottom Line 😂

Malc

[GMB]

The elephant in the room: Buy one of these and you will not sleep at night. They are very "showy" "Loud" "In your face" etc and it will very soon be a target for thieves.

A neighbour has ( for the time being! )  a lovely 18 month old M3 and has to sell it rapido. His house has been broken into 3 times while they searched for the keys. He is concerned that maybe next time they will threaten his wife or children to get the keys from him.

It sounds awful, but it IS a fact of life nowadays. It is not just Manchester either. Now that they know where the car is, it will soon be gone, one way  or another.

Life in the UK nowadays eh?😒.

Always keep your head below the parapet and that includes for the taxman too. It leads to a quiet life.

[MattyJB]

7 hours ago, Malc1 said:

You're going to be a rare person to witness any uplift in your car's value over short or long term ..........  buy your cars and enjoy them as much as possible and don't concern about values .  it's the car you want and to simply ENJOY  .............. 

Its always going to be the dealers and the financiers that will be making any money out of cars ............. your money into their pockets and you holding that piece of metal that you want to invest chunks of your ££££ into  ............. it will always work for them but rarely for the owner of the car  ....  enjoy the cars as much as possible 

Malc

Problem is Malc that people have very short memories - the last 4 years have been bizzare for a miriad of reasons, not least the fact that depreciation in cars was all but zero, with plenty of people selling for a profit (I was one of them!) but if you read the thread on Pistonheads the amount of people who think that's normal and next Spring all the cars will magically increase back in price is incredible. I'm old, grey and grumpy enough to accept that 30-50% depreciation after 3 years is 'normal' and anything better than that is a bonus.

 

[GMB]

4 minutes ago, MattyJB said:

I'm old, grey and grumpy enough to accept that 30-50% depreciation after 3 years is 'normal' and anything better than that is a bonus.

Me too!

[Malc1]

That “ norm “ is retail then which can be miles away from what that dealer will pay or auction results even ……30/50% after 3 years might well be 70% ! 

 

Malc 

[Jimbrodie1]

On 11/29/2023 at 7:34 PM, rsdave said:

Definitely seems to be a huge dip in prices this month, perhaps it's just seasonal?. I have been dipping my toe in the water to sell my LC500 as it's not getting the use it should lo justify keeping it.
It's a Red 2019 LC V8 with 3369 miles on it and  "better than showroom" condition. I thought I'd start by calling the dealer I purchased it from as they're aware of it's amazing condition and  I thought they might like it back. But I hadn't even finished my 
sentence or got to a price I had in mind when the guy on the other end of the phone said "Nope, don't want it, thanks for calling, goodbye". Hmm, nice. On their website they have just 1 LC in stock across the entire group franchise at the moment.
I then tried a number of those "we buy your car now" things and surprisingly many of them didn't want it either.  Those that did give prices were ridiculously low and still subject to change on inspection.
I tried to P/X at a BMW dealer and they didn't want to touch it "there's no market for big V8 engined cars at the moment, sorry.."

Dave, you haven’t said what spec your car is, Coupe, Sport or Sport Plus, ML sound etc.

Personally I think people spending this amount of money especially in the second hand market want top spec, even if it does cost a couple of £k more. I know I would as I’ve been looking for ideally a 21 model year, top spec, Red Sport Plus for a while but they are like hen’s teeth.

if yours is top spec and is as you have described it I would be very surprised that you would be struggling to move it on ?

[GMB]

What a waste of money. An LC without a V8 engine, 2nd hand prices will drop like a stone.

Why not buy a tried and tested 2nd hand RCF. You won't look like a "*******" in it and get the same performance and quality.

Spend the other £25K on a world cruise.  Just sayin.......

[Jgtcracer]

On 12/5/2023 at 7:09 PM, GMB said:

Why not buy a tried and tested 2nd hand RCF. You won't look like a "*******" in it and get the same performance and quality

I can personally attest to the fact that you could very well look like a tw*t in one, particularly if it’s orange!

[Boomer54]

9 hours ago, Jgtcracer said:

I can personally attest to the fact that you could very well look like a tw*t in one, particularly if it’s orange!

I suspect there is a source of very wealthy buyers to be uncovered for the orange coloured RCF.  Looking to sell make sure you advertise it in Valencia it will have huge appeel.

[GMB]

Or Seville?  Nice car though