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

[talaipwros]

Can someone explain why these are all - relatively - low miles examples?

 

What's the point of having a nice cruiser if not cruising?

[eightk]

I’d guess because some are second/third cars, some are owned by elderly/retired types and some are ex-demo or showroom models. Mine is august 2021 and only had 4,000 miles on it after 18 months as it was owned by lexus head office. The previous owner of the yellow 79,000 mile example needs to be congratulated though - good effort!

[Jgtcracer]

3 hours ago, talaipwros said:

Can someone explain why these are all - relatively - low miles examples?

 

What's the point of having a nice cruiser if not cruising?

I use my car daily 15 miles a day and am still only doing around 10,000 miles a year so I suppose they are all still young cars.  Annual mileage average is something like 10k a year and I would think most LC500s aren’t the only car in the household.

 Just my guess anyway.

[DtoTheM]

What surprises me is the condition most of these cars are in, everyone I've seen has body work faults, some interior issues etc and when raised the sellers (independent garages) just say they'll claim on the lexus warranty and it'll all be fine.... 

What are part ordering times like? Hyundai I know even the most basic parts have like an 8 week turnaround. If the dealers aren't paying for repairs then just put the bloody thing in now?!! Who is going to spend this amount of money on a car with issues your told are basic warranty fixes?

[eightk]

Go on - what’s the list of faults? Other than wheel damage and/or crappy refurbs, creased drivers seat bolster and some stone chips I honestly can’t think of a single fault with any of the cars I looked at. Actual faults would be covered for ten years with the relax warranty.

[DtoTheM]

Well it's all come to a grinding halt hasn't it? Very little movement in the past few weeks, a few cars being sold but otherwise very low liquidity at the bottom end of the market. 

[eightk]

A silver non sport has gone, a black/black Lexus dealer (Newcastle?) car has finally gone and a red sport convertible vanished in days. Those are the ones that stick in my memory, could be more.
Meanwhile the long term ads remain, probably due to condition or miles or spec.

There’s 11 used V8s on autotrader right now. Not exactly a liquid market!

[Jgtcracer]

2 hours ago, eightk said:

A silver non sport has gone, a black/black Lexus dealer (Newcastle?) car has finally gone and a red sport convertible vanished in days. Those are the ones that stick in my memory, could be more.
Meanwhile the long term ads remain, probably due to condition or miles or spec.

There’s 11 used V8s on autotrader right now. Not exactly a liquid market!

I was at Newcastle last week hoping to have a drive of that car!! Now I know why it wasn’t there…..

[DtoTheM]

6 hours ago, eightk said:

A silver non sport has gone, a black/black Lexus dealer (Newcastle?) car has finally gone and a red sport convertible vanished in days. Those are the ones that stick in my memory, could be more.
Meanwhile the long term ads remain, probably due to condition or miles or spec.

There’s 11 used V8s on autotrader right now. Not exactly a liquid market!

There's approx 250 odd V8's in the country so very very low numbers for sale vs say a BMW 650i GC where there are 13 in the country 4 of which are for sale.. SO the Lexus market is really illiquid. Given how slowly most are selling I think it's fair to say owners are refusing to sell them, either there's nothing else they want and they're perfectly happy with their cars, or they think the market isn't going to be kind to them right now.

All that while seeing that there's a few low price examples out there which refuse to sell I guess backs up that demand is low/picky

I really want to know the story behind that cheap yellow one, they're obviously desperate not to take a single penny off it but surely it's only going down? It's been off road for almost a year now, I wonder at what point reality is going to bite for them? It must be a nice shiny draw outside their showroom wherever it is!

 

Anyone tempted to view it?

[eightk]

I don’t think a barried-up 3 series is comparable to my Toyota but that could just be me I suppose. If 30% of the entire 650-thingy stock is up for sale that’s not a good thing. Compare with 11 cars out of 250 ie less than 5% of all LC V8s for sale. That does suggest nobody is trying to sell. I can understand why 😎

[BrettMRC]

I've no idea what I'd replace mine with - yes you can go faster for the money, but how much faster do you need to go?  It's quicker than 99% of whats on the roads, more comfortable and looks epic.

The only reason I don't drive mine more is because of the state of the roads around here, and the muppetry of other road users.  (I've had her a year on the 29th and I still haven't done 1500 miles!)

Suspect others may feel the same.

Edited May 24, 2023 by BrettMRC
terrible grammar

[Marcus63]

7 hours ago, BrettMRC said:

I've no idea what I'd replace mine with - yes you can go faster for the money, but how much faster do you need to go?  It's quicker than 99% of whats on the roads, more comfortable and looks epic.

The only reason I don't drive mine more is because of the state of the roads around here, and the muppetry of other road users.  (I've had her a year on the 29th and I still haven't done 1500 miles!)

Suspect others may feel the same.

We need a group road trip, that'll get your mileage up😀

[DtoTheM]

7 hours ago, eightk said:

I don’t think a barried-up 3 series is comparable to my Toyota but that could just be me I suppose. If 30% of the entire 650-thingy stock is up for sale that’s not a good thing. Compare with 11 cars out of 250 ie less than 5% of all LC V8s for sale. That does suggest nobody is trying to sell. I can understand why 😎

Barried up 3 series? Why is it whenever someone mentions a different car there needs to be some contest? It's not like the LC is THE BEST CAR EVER just appreciate people have different tastes and multiple cars? Who cares really?

[DtoTheM]

7 hours ago, BrettMRC said:

I've no idea what I'd replace mine with - yes you can go faster for the money, but how much faster do you need to go?  It's quicker than 99% of whats on the roads, more comfortable and looks epic.

The only reason I don't drive mine more is because of the state of the roads around here, and the muppetry of other road users.  (I've had her a year on the 29th and I still haven't done 1500 miles!)

Suspect others may feel the same.

Between the roads and WFH I don't think I've done 1500 in any car apart from the family one. COVID has turned them into expensive trinkets in many cases 😞

[Arth_Vader]

On 5/25/2023 at 1:08 AM, DtoTheM said:

Barried up 3 series? Why is it whenever someone mentions a different car there needs to be some contest? It's not like the LC is THE BEST CAR EVER just appreciate people have different tastes and multiple cars? Who cares really?

I don’t know why you’re getting a bit triggered by a very mild joke about a BMW on a Lexus owner forum, especially when the guy made a joke about the flagship Lexus that he owns being a Toyota.  

Do you own a BMW?

I’m also generally confused about what a non Lexus owner is doing on a Lexus owner forum doing their best to convince actual Lexus owners that the value of their cars is going down in a hurry. I see this behaviour a lot on share sites where non owners talk down the shares i the hope of getting more people to sell - thus encouraging the prices to drop.  

Why are you here?

As for “ it’s not like the LC IS THE BEST CAR EVER” - I decided to test your statement by searching YouTube for “LC500 best” and an LC video by thecarguys from two weeks ago came up.

Quite a long video (normal pros and cons) but his conclusion was that he would not buy the corresponding Audi, BMW (850i loses every competition with LC) ) Mercedes or any other manufacturer’s offering except for the Ferrari GTC4 Lusso which starts at £139,000 for a 2017 model and will have running costs that only millionaires can stomach. 

As thecarguys are proper millionaires and the rest of us are not I’ll leave you to connect the dots.

Lastly - just checked autotrader, and there is an identical spec LC with a few more miles than mine on for 2k more than I bought mine for two years ago.

This is actually bad news, as if mine gets nicked I’ll have to stump up more money to get it replaced.
 

 

 

 

[eightk]

I’ve watched the 40-odd minutes of the car guys video and he bloody loved it. I wouldn’t be surprised if Damien buys one. As you say, they know their sh!t, despite a pre-disposed fascination with shonky Fiat tat.
Thing is, the LC kind of is THE BEST CAR EVER - apart from the weight (it’s not a sports car), the infotainment (heck, it’s at least 30 years ahead of the 2014 Maserati I had), small boot, and errr, errr, the erm, pfft yeah, it is good isn’t it. But I’m preaching to the converted. Add on 10 year warranty, n/an engine, and literal concept car looks. 
That’s why there are so few for sale. If only it had a BMW M-effort badge, it’d sell in the thousands…

[Brian R]

55 minutes ago, Arth_Vader said:

Why are you here?

Arthur, well said! Matt chooses to, as a very learned friend of mine would say, "ignore the bleeding obvious"! I have to say his view/take on matters is, shall we say, bizarre.

[eightk]

To be fair I also join forums before I buy cars. Best way to understand what makes them tick. Or rattle’n’rust in the case of Maseratis..

[Arth_Vader]

15 minutes ago, eightk said:

To be fair I also join forums before I buy cars. Best way to understand what makes them tick. Or rattle’n’rust in the case of Maseratis..

Me too - although I’m mostly just trawling through the forums looking for reliability and expensive issues as you can get the driving reviews from YouTube. (I discovered a few nasty  Achilles heels for RS4s so made  sure I got a solid warranty.)

IMO this is different.  The posts are not asking about the ownership experience and are all on this depreciation topic, sometimes asserting poor quality interiors, poor bodywork  bad mpg, and generally talking prices down and seemingly seizing on every perceived wobble in prices at an independent, and saying the dealers should be following suit.

Free country and all but just seems a bit disingenuous….

 

 

 

 

 

[eightk]

2 hours ago, Arth_Vader said:

Free country and all but just seems a bit disingenuous….

 

 

 

 

 

No harm in trying, and it’s quite entertaining.

Slag them off enough and they’ll be 30 grand before you know it 😂

[DtoTheM]

7 hours ago, Arth_Vader said:

I don’t know why you’re getting a bit triggered by a very mild joke about a BMW on a Lexus owner forum, especially when the guy made a joke about the flagship Lexus that he owns being a Toyota.  

Do you own a BMW?

I’m also generally confused about what a non Lexus owner is doing on a Lexus owner forum doing their best to convince actual Lexus owners that the value of their cars is going down in a hurry. I see this behaviour a lot on share sites where non owners talk down the shares i the hope of getting more people to sell - thus encouraging the prices to drop.  

Why are you here?

As for “ it’s not like the LC IS THE BEST CAR EVER” - I decided to test your statement by searching YouTube for “LC500 best” and an LC video by thecarguys from two weeks ago came up.

Quite a long video (normal pros and cons) but his conclusion was that he would not buy the corresponding Audi, BMW (850i loses every competition with LC) ) Mercedes or any other manufacturer’s offering except for the Ferrari GTC4 Lusso which starts at £139,000 for a 2017 model and will have running costs that only millionaires can stomach. 

As thecarguys are proper millionaires and the rest of us are not I’ll leave you to connect the dots.

Lastly - just checked autotrader, and there is an identical spec LC with a few more miles than mine on for 2k more than I bought mine for two years ago.

This is actually bad news, as if mine gets nicked I’ll have to stump up more money to get it replaced.
 

 

 

 

I own lots of cars, am I only allowed on certain forums for brands I own? This as far as I can tell is the only UK based Lexus owners forum (certainly seems to be the highest placed when googling. Certainly when it came to prices there seemed to be some discussion here vs other places. I've watched enough reviews and drive the car enough to know I like it, I don't need a YouTube video of someone telling me their personal opinion.

Why don't I ask about the ownership experience? simply, frankly I don't care, I buy cars I like I'm not particularly interested if other people like or dislike certain features. Ownership stories are also horribly skewed. I can't recall if it was in this exact thread but someone was banging on about them and their mechanic chuckling about BMW oil seals leaking constantly, maybe some models but never had any issue on any of the cars I've owned from any marque beyond a engine sensor (BMW), fan unit (Mercedes), Handbrake switch (Hyundai), Wheel bearing (Nissan), Air-con leak (Renault) So unless I'm the worlds luckiest guy my personal ownership experience is most cars are devoid of any major issues and everyone just like a chuckle based on decade old perceptions (except perhaps Landrover, not gonna touch one of them with a barge pole). I've never discussed the MPG of the Lc500, it's better than most of my cars for a start so a slight plus there for sure not something I'd grumble about. Body work? Stone chips on the front bumper for sure, it has a similar profile to my 350z which was a magnet for stones, not particular bad, I like that styling to be honest and easy enough to protect against, don't believe I've ever described it as poor. In fact the only thing I've focused on are the strengths of the bolsters. I've looked at 3 cars now and they all have a noticeably different feel for the outside vs inside bolster. This not something I've seen on other cars. I've seen old cars with ripped leather where it's been overly worn but the stiffness of the bolster itself is still firm. Hence my questions around this area it seems unique to Lexus, perhaps the softness protects against wear long term? But it bugs me and I'm picky about the cars I buy. To me a car isn't an investment, unless your buying something in a very small bubble then a car is from my POV a toy and I have little interest in paying excessive amounts of money for something that's new or nearly new.

Whats interesting (to me) is that the new or nearly new cars seem to sell faster than the older and cheaper examples. Coupled with the attitudes on here seem to indicate your average buyer isn't looking at the lower end of the market for "a deal" but weirdly "the deals" seem to sit unsold for 1/2 a year or more. So the obvious conclusion is these aren't deals, they're over valued. I can't imagine a car with moderate availability can sit for 9 months (that yellow one!) if it's priced fairly. I also can't imagine with such a comprehensive warranty that it can have some hidden issue. Then you've got the white one that's been up for 2 months, that's looking extremely well priced even assuming the yellow is overpriced. Yet it's still there, but the silver entry level model vanished in a week from a garage that got decidedly unfavourable reviews. So it's a mystery and I like mysteries and I like to know what I'm buying and I like knowing I got a deal. Right now it feels the market is in a real bubble, the fact you've pointed out it would cost you more to replace your car than you paid is again fairly solid proof of that statement. I'd imagine owners are feeling quite happy at the moment the market is telling you your asset is rising despite all logic saying it should fall, but fall it will. I don't need to buy one today, or next week. I can happily wait till next year and I'll enjoy it just as much. 

 

As much as your sat there saying how buyers are busy trashing the image and trying to lower prices owners are busy talking up their side as well. All perfectly natural, my opinion is no more or less valid than yours, it's not unique to this car or any asset ownership. 

So why am I here? To get a handle on others views of the market and primarily other buyers. If I buy one then you can look forward to questions about who has replaced their exhausts and added side skirts/lips, although the US based groups seem to have a lot more owners that way inclined.

[96spec]

15 hours ago, eightk said:

I’ve watched the 40-odd minutes of the car guys video and he bloody loved it. I wouldn’t be surprised if Damien buys one. As you say, they know their sh!t, despite a pre-disposed fascination with shonky Fiat tat.
Thing is, the LC kind of is THE BEST CAR EVER - apart from the weight (it’s not a sports car), the infotainment (heck, it’s at least 30 years ahead of the 2014 Maserati I had), small boot, and errr, errr, the erm, pfft yeah, it is good isn’t it. But I’m preaching to the converted. Add on 10 year warranty, n/an engine, and literal concept car looks. 
That’s why there are so few for sale. If only it had a BMW M-effort badge, it’d sell in the thousands…

Just watched that :-). lol fills it up with it running - obviously way too excited. Actually had something similar on a Hybrid XC90 T8 last year - parked it up in town and went to lunch - came back to the engine running 😁 just hadnt turned the thing off - a bit scary.

His point on the volume is saved for each input is the same for the sound settings bass/mid/treble

Never really thought a lot about the F type - partly due to JLR brand but also the design looks awkward. My wife had a crossfire years ago which Clarkson mocked that car and the F Type fundamental design looks not disimilar! Actually that crossfire was a reasonable car - mostly SLK underneath - remember crawling underneath to look at rattle and AMG exhaust on it 🙂 - bought an SC after that car.

[Casa1862]

20 hours ago, Arth_Vader said:

I don’t know why you’re getting a bit triggered by a very mild joke about a BMW on a Lexus owner forum, especially when the guy made a joke about the flagship Lexus that he owns being a Toyota.  

Do you own a BMW?

I’m also generally confused about what a non Lexus owner is doing on a Lexus owner forum doing their best to convince actual Lexus owners that the value of their cars is going down in a hurry. I see this behaviour a lot on share sites where non owners talk down the shares i the hope of getting more people to sell - thus encouraging the prices to drop.  

Why are you here?

As for “ it’s not like the LC IS THE BEST CAR EVER” - I decided to test your statement by searching YouTube for “LC500 best” and an LC video by thecarguys from two weeks ago came up.

Quite a long video (normal pros and cons) but his conclusion was that he would not buy the corresponding Audi, BMW (850i loses every competition with LC) ) Mercedes or any other manufacturer’s offering except for the Ferrari GTC4 Lusso which starts at £139,000 for a 2017 model and will have running costs that only millionaires can stomach. 

As thecarguys are proper millionaires and the rest of us are not I’ll leave you to connect the dots.

Lastly - just checked autotrader, and there is an identical spec LC with a few more miles than mine on for 2k more than I bought mine for two years ago.

This is actually bad news, as if mine gets nicked I’ll have to stump up more money to get it replaced.
 

 

 

 

I stopped taking this video seriously when he said "loads of room in the back, a true 2+2 and passengers won't have any complaints" .... total BS if I've every heard it, all cars in this segment have back seats for show, Lexus is no different!!

BMW (850i loses every competition with LC), you sure about this? what are you measuring that it loses every competition? I assume you are comparing the M850i?

The LC500 is a great car and most on here have some interest in it, if you think a handful of people on an internet forum have the ability to talk down prices then time to get professional help! 

 

[96spec]

Ha! Probably convincing himself it is a genuine 2+" so he can convince his other halve perhaps 🙂

[Arth_Vader]

1 hour ago, Casa1862 said:

I stopped taking this video seriously when he said "loads of room in the back, a true 2+2 and passengers won't have any complaints" .... total BS if I've every heard it, all cars in this segment have back seats for show, Lexus is no different!!

BMW (850i loses every competition with LC), you sure about this? what are you measuring that it loses every competition? I assume you are comparing the M850i?

The LC500 is a great car and most on here have some interest in it, if you think a handful of people on an internet forum have the ability to talk down prices then time to get professional help! 

 

Indeed - the M850i. Whenever the two cars are reviewed side by side or whenever reviewers like throttlehouse review the LC after they’ve reviewed the m850i the LC gets the nod.  Sometimes it’s close sometimes it’s by clear margin.

As for the rear seats, they are not for show.   I do agree the carguys video was rather over the top in its practicality assessment but I took my family to France in the LC for the weekend, and with some adjustments in the front the wife and toddler both went in the  back.  This isn’t possible in the convertible.   The front seats go up and forward, I’m 5’10 and heavy build but I can drive for long distances with someone behind me.

Thank you for your comment about needing professional help, but I think my assessment was spot on.   I didn’t say he’d be able to affect values much, but it’s been getting rather annoying to see him try so hard on an owner forum, and to celebrate every illusory chink in the LCs ability to hold its value.  Disingenuous is a pretty accurate one word summation.