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

[DtoTheM]

Really need the lexus main dealers to drop their prices, does feel like there's a split forming between dealer and bon dealer prices at any rate which should drive this.

[DtoTheM]

Looks like a lexus main dealer has just put up a V8 for 52k I think this is going to be the turning point, up till now the main dealers have a 5-10k price premium

[Arth_Vader]

If you can get into one of these v8s for under 50k that’s astonishing value.  

I’ll never forget the first vid of them, nor my first test drive.  I’m almost two years in now with mine and other people absolutely love it.  You wouldn’t thank it’s almost 5 years old.

 

[DtoTheM]

32 minutes ago, Arth_Vader said:

If you can get into one of these v8s for under 50k that’s astonishing value.  

I’ll never forget the first vid of them, nor my first test drive.  I’m almost two years in now with mine and other people absolutely love it.  You wouldn’t thank it’s almost 5 years old.

 

They're getting there, the fact were seeing main dealers cutting prices and there's now a few under 50k shows where it's going! That yellow one is really holding it up though. Looks very overpriced Vs the rest of the market and it looks like it's been around for 8 months or so. Maybe it'll get moved down now the market is shifting, they've missed the high point for sure.

[talaipwros]

They are getting there but these are 6 years old cars and retain like 60% of the value.

Would not consider them a bargain really

[DtoTheM]

9 minutes ago, talaipwros said:

They are getting there but these are 6 years old cars and retain like 60% of the value.

Would not consider them a bargain really

Indeed I think many of us are waiting for the bubble to pop why pay 50 now if they'll be 40 within a year, they'll fall it's just a question of when

[talaipwros]

Also just 12 months ago, a brand new LC500 V8 costed 75K

https://www.carmagazine.co.uk/car-reviews/lexus/lc500/

now it starts at 95K

 

That's a whooping 26.6% price increase in a year.

[Brian R]

For the sake of clarity, see the attached April 2021 price list which rather makes the "last years" prices look nonsense. I know some might wish the prices were lower but fyi, my used price according to Motorway and Autotrader has increased year on and quite significantly. Please also don't forget used prices will, along with new, inflate with, err, inflation!

LexusPriceListLC010421_tcm-3157-2236412.pdf

[DtoTheM]

1 hour ago, Brian R said:

For the sake of clarity, see the attached April 2021 price list which rather makes the "last years" prices look nonsense. I know some might wish the prices were lower but fyi, my used price according to Motorway and Autotrader has increased year on and quite significantly. Please also don't forget used prices will, along with new, inflate with, err, inflation!

LexusPriceListLC010421_tcm-3157-2236412.pdf 1.6 MB · 6 downloads

They will bubble up and down but prices have not bottomed out, my 2004 350z buttoned out about 3 years ago, a 5year old car is not at the bottom of its curve by any means

[Arth_Vader]

6 hours ago, talaipwros said:

They are getting there but these are 6 years old cars and retain like 60% of the value.

Would not consider them a bargain really

You’d have to ask why they still have 60% value retained.  They are six years old yes, but the shape is the same as new, engine same as new, and they still have FOUR YEARS of warranty left. That’s more than some new cars get.  This ten year warranty is unprecedented on a car of this calibre.

What calibre is that, I hear you ask?

Well, I’ve compared it to my previous four cars - taking into account sheer road presence, noise, performance, technology, gearbox, fuel economy, comfort, practicality, cost to run (including depreciation) and rarity.

Porsche Carrera 997 4s

Aston Martin v8 vantage roadster,  

981 Boxster GTS

Aston Martin DBS volante

I have to say that the LC 500 is the best of them all, all things considered.

The closest was the DBS, which looked better and was slightly faster but it was WAY over twice the price, drank like a fish and was ruinously, ludicrously expensive to run.

However I’ve had more comments about the LC than I got about it. The LC sounds better, and goes better.

So - yes all that is a bargain at 50k.  I’m coming up to 2 years ownership now and I can tell you that this is a really really special car.  We’d have gone for a newer convertible but the rear seats are a teeny bit worse than the coupe and my wife and kid don’t fit.

Will some v8 examples go to 45k?  Probably but high mileage, lower spec, multiple owner cars in hard to sell colours are bound to be, well, hard to sell by private owners and small franchises.

£40k?   That’s really hard to see.  Especially one with the 21” wheels which make the car look fabulous.

 

 

 

[eightk]

Yeah, that. A base model with miles may drop towards 40k but a well looked after sport/sport plus in a decent colour scheme won’t get there anywhere near as quickly. 

And the list price as far as I know has always been the list price more or less. None of this 20k off (ze Germans) or silly cheap lease deals (Aston). Hewn from Japanese granite, concept car looks, and a naturally aspirated V8. You get what you pay for. They’re not a bargain and probably never will be.

[Jgtcracer]

59 minutes ago, eightk said:

Yeah, that. A base model with miles may drop towards 40k but a well looked after sport/sport plus in a decent colour scheme won’t get there anywhere near as quickly. 

And the list price as far as I know has always been the list price more or less. None of this 20k off (ze Germans) or silly cheap lease deals (Aston). Hewn from Japanese granite, concept car looks, and a naturally aspirated V8. You get what you pay for. They’re not a bargain and probably never will be.

I’m selfishly hoping they will drop further in years to come, closer to RCF money.  It’s the only car I would consider moving to from an RCF but would need to be a convertible.

I don’t really consider one an upgrade over the other, different cars for different purposes I suppose.  The RCF is hardly a sports car but I feel like an LC500 is a more sensible, grown up machine!

I like the bright colours mind you!

[DtoTheM]

10 hours ago, Jgtcracer said:

I’m selfishly hoping they will drop further in years to come, closer to RCF money.  It’s the only car I would consider moving to from an RCF but would need to be a convertible.

I don’t really consider one an upgrade over the other, different cars for different purposes I suppose.  The RCF is hardly a sports car but I feel like an LC500 is a more sensible, grown up machine!

I like the bright colours mind you!

They will drop it's just a question of when. People might like to hope that only the worst cars will end up at 40 but it's not true.

I can tell you I think every car I own I think is worth more than the market says it is and should be higher 😛 Owners have a different sense of value to buyers, naturally. Weirdly nobody wnats wants to pay over market value for my cars so I'm not interested in paying over the odds for theirs. I feel that's fair!

[eightk]

Latest one on autotrader - white over black sport plus with 57k and HUD and ML at 47500 at a trader. A full five grand cheaper than Lexus cardiffs identical main dealer car. Factor in the warranty that automatically comes with the annual service and I know which I’d go for. 

Getting cheaper! Question is, when’s the best time to jump in if you’re a potential buyer?! Yes they’ll eventually drop below 40k but there’s only 17 V8s on autotrader and 15 on the Lexus site - that’s roughly about the stock levels they’ve been for at least since early 2022. Supply and demand are still balanced… for decent cars anyway. Compare with the 50 BMW M8 on autotrader and I can guess which will move south first.

As far as the convertibles go there are now zero 2021 cars available like mine, cheapest is Lexus Burmingums silver 2022 at 93k with nearly ten thousand miles on it - I think that’s the highest mileage convertible I’ve seen yet. Cheapest ever convertibles got to 85k I think, but none I’ve spotted have been outside of the official dealer network.

[DtoTheM]

29 minutes ago, eightk said:

Latest one on autotrader - white over black sport plus with 57k and HUD and ML at 47500 at a trader. A full five grand cheaper than Lexus cardiffs identical main dealer car. Factor in the warranty that automatically comes with the annual service and I know which I’d go for. 

Getting cheaper! Question is, when’s the best time to jump in if you’re a potential buyer?! Yes they’ll eventually drop below 40k but there’s only 17 V8s on autotrader and 15 on the Lexus site - that’s roughly about the stock levels they’ve been for at least since early 2022. Supply and demand are still balanced… for decent cars anyway. Compare with the 50 BMW M8 on autotrader and I can guess which will move south first.

As far as the convertibles go there are now zero 2021 cars available like mine, cheapest is Lexus Burmingums silver 2022 at 93k with nearly ten thousand miles on it - I think that’s the highest mileage convertible I’ve seen yet. Cheapest ever convertibles got to 85k I think, but none I’ve spotted have been outside of the official dealer network.

When you say white over black? You mean the white is a wrap? or just it's got a black interior?

17 V8's is plenty and many have sat there for a bit indicating they're priced too high. If you look on Marshals site they should the discounts, 8K reduced, 5K reduced on 2 cars (still pricy) but those are heft reductions. My guess is most dealers are looking to do small deals knowing the prices are coming down and they'd rather move their cars now than deal with larger reductions in 2-3 months (I think thats the time to buy TBH)

Also in the last 3 weeks I've noticed dealers are really chasing enquiries, 2 months ago if you didn't reply in a day or so you might have got an email but probably not, now I'm seeing people chasing me if I don't reply after 6 hours. That tells me either they're not selling any cars and have plenty of time or their focusing on selling the stock they have at the current prices. Most places seem bullish that the summer will lift prices but realistically at best they'll stop the rot as it were.

[eightk]

Yeah, white and black interior. There’s a black one in Newcastle (around for 6 months +) and the Wigan silver one with resprayed wheels (12 months at least) that are long term adverts - you’d think they’d swap within the trade or something to get them shifted. You could be right with the 2-3 months - summer may not turn out as positive as dealers are hoping. Or then again…
I think colour also plays a part as well as price or condition - there isn’t a single red one on autotrader… he says as owner of a red one…

[DtoTheM]

11 minutes ago, eightk said:

Yeah, white and black interior. There’s a black one in Newcastle (around for 6 months +) and the Wigan silver one with resprayed wheels (12 months at least) that are long term adverts - you’d think they’d swap within the trade or something to get them shifted. You could be right with the 2-3 months - summer may not turn out as positive as dealers are hoping. Or then again…
I think colour also plays a part as well as price or condition - there isn’t a single red one on autotrader… he says as owner of a red one…

Trade don't want them, if you put the yellow one's reg in autrotrader says you'd get 40k for a private sale, it's up for 49,995 who want's to swallow that?

[Malc1]

14 minutes ago, DtoTheM said:

Trade don't want them,

I think the Trade will want anything that they can make a profit with .......... and offer other's traders cars if they can do a deal and make a little ££££

It's the money men, the backers that control the prices ultimately ........ and that hinges on perspective of the UK economy and inflation and purchasing power for that segment of society the trade thinks it should be targetting ...  and interest rates of course .  where's it better to store your money .  often in used cars for sure  .  the eventual sale effort and price is a microcosm of the above methinks 🤔

Malc

[96spec]

Colour combos on the LC do seem to play into how quickly they hang around or go but I havent really noticed they are priced much differently by colour. Silver LCs seem to take longer to shift, Red seems to go except those with a tan interior - they seem to take a while. This is me having red with black interior! I think all the colour combos are great but I think when looking on screen certain combos look better.

I have a base model, I dont think I have seen one other base model for sale since I bought mine a year ago until today and there is a silver one. People are going to favour the sport models but I can genuinely say that after a year I do not feel in anyway that I am missing out being in a non sport. I might actually favour the glass roof over the CF - weight aside. When I bought the car I went in expecting that I might be missing out on something but its so highly specced - even having heated steering and climate seats which I hadnt expected. For me the overriding criteria was the car is fundamentally the same across the models and especially the engine/gearbox/suspension.

I bought a year ago - I was aware of the market and accepted the possibilities. I got mine as it was at the sweet spot for budget ~52k at the time. I could have waited but calling the market isnt going to have worked and thats one less year or more that I wouldnt have enjoyed the car.

If the prices pull back they will across the entire sector in the market and its relative and was relative - I expected to lose 40% on my C63 when I bought that in 2018 but sold in 2021 and only lost ~8%.

I guess if someone has a budget of <50k then yeah you are going to start seeing opportunities for these cars which of course are another year older but I think the LC prices  - certainly they arent going to decline any differently - they are still low numbers available used + Lexus reputation + flagship model + that 10 year warranty and you are getting an awful lot of car when you compare to Astons, 911s, AMG GTs which there are tons of used.

I would like to scratch a 911 itch but and it was one of the decision points that made me go with an LC - to get into a 911 that I wanted I'd have needed 25-30k more. I considered a Vanquish but the Lexus warranty took care of that and I had contended the AMG GT but discounted it as I had already experienced the engine and wanted something different + the AMG GTs just didnt review quite as nicely as the LC.

[96spec]

I should add too that the one other aspect the LC trumps so many other cars in this sector is the interior - it is stand out the best and one of the best interiors of any cars period. I dont actually feel the infotainment is bad either - I enjoy that it has flexibility and multiple layers and menus. Yeah I always forget when navigation cancel is but thats it. I have audio one the left main screen and climate on the right.

Plus my wife loves the LC and loves being in it - she wasnt covinced on the 911 which is going to be difficult when I do want to get one.

+ I can put the dog in the back of the LC lol and he loves it - absolutely hates the XC90 due to the visibility especially on motorways!

[Malc1]

32 minutes ago, 96spec said:

I would like to scratch a 911 itch but

Oh my .  mine's a Bentley S3  .  but roadside parking ain't that sensible, especially with my next door neighbour and another just along a bit have their own Bentleys parked roadside too ......

someone might think we're worth burgling 😅

Malc

[96spec]

There is one other benefit of these cars getting older ... RFT 🙂

[DtoTheM]

14 minutes ago, 96spec said:

There is one other benefit of these cars getting older ... RFT 🙂

Whats that sorry?

[96spec]

Road Tax

[DtoTheM]

4 minutes ago, 96spec said:

Road Tax

Why's it get cheaper? Sorry I've never actually looked at road tax before heh