Disappointed.

[marks69]

After a recent theft attempt on my Es300 and reading many posts on here, i got to thinking that maybe it might be time to move on to another brand, even though i really like my Lexus.

Whilst looking around at various cars in all the usual places like AutoTarder, CarWow etc etc, i decided to see what sort of part exchange price i could get and to my great disappointment i was getting valuations of anywhere between £23500-£24900 which means i would lose roughly £10,000 for just 3 years of ownership on a car that was only 3 months old when i got it and has barely 12000 miles on the clock 

[Notamech]

25 minutes ago, marks69 said:

After a recent theft attempt on my Es300 and reading many posts on here, i got to thinking that maybe it might be time to move on to another brand, even though i really like my Lexus.

Whilst looking around at various cars in all the usual places like AutoTarder, CarWow etc etc, i decided to see what sort of part exchange price i could get and to my great disappointment i was getting valuations of anywhere between £23500-£24900 which means i would lose roughly £10,000 for just 3 years of ownership on a car that was only 3 months old when i got it and has barely 12000 miles on the clock 

Thats an unfortunate reality of owning luxury cars. They depreciate heavily. Also if thats the value you got online expect dealers / online companies like webuy etc. to knock it down further come time to sell. They will pick stupid reasons like ooh its had a resprayed bumper, you have a minor scratch here etc. If you arent in a hurry then i recommend selling it privately. But check autotrader for average prices for your trim level and see what price its going for. Honestly on a new car with 3 years of ownership losing 10k doesnt dound too bad. On average  all cars do depreciate  ~30% by year 3. You will definitely get more than if you part exchange it or sell to a car buying company. Also never bother adding anything to a car assuming it will increase its value e.g sportier alloys. If it didn't come from factory nobody cares.

[marks69]

12 minutes ago, Notamech said:

Thats an unfortunate reality of owning luxury cars. They depreciate heavily. Also if thats the value you got online expect dealers / online companies like webuy etc. to knock it down further come time to sell. They will pick stupid reasons like ooh its had a resprayed bumper, you have a minor scratch here etc. If you arent in a hurry then i recommend selling it privately. You will definitely get more than if you part exchange it or sell to a car buying company. Also never bother adding anything to a car assuming it will increase its value e.g sportier alloys. If it didn't come from factory nobody cares.

Yeah i understand what you're saying. My previous part exchange experience was on an Audi A5 which had prior to the Lexus, which i  lost just under £3000 for 3 years of ownership, so i thought i might get roughly the same ball park........not over triple the loss.

[Notamech]

2 minutes ago, marks69 said:

Yeah i understand what you're saying. My previous part exchange experience was on an Audi A5 which had prior to the Lexus, which i  lost just under £3000 for 3 years of ownership, so i thought i might get roughly the same ball park........not over triple the loss.

Yeah i take it that wasnt a new car? New cars depreciate more. As cars get older the relative depreciation reduces e.g a car would lose less value from year 7 -10 vs from new to year 3

[marks69]

2 hours ago, Notamech said:

Yeah i take it that wasnt a new car? New cars depreciate more. As cars get older the relative depreciation reduces e.g a car would lose less value from year 7 -10 vs from new to year 3

I think the Audi was approx 9 months old when i got it, can't quite remember.

[BobRZ]

Not sure why you would change after a theft attempt. The scumbags would have probably still targeted you if you had any other desirable car on your drive. How about a much cheaper option like a visual deterrent such as a steering wheel lock, sometimes that may be enough to get them to move on to the next target. If you are looking to change anyway I have just PX an ES which was 21 months old with 14k on the clock and got £26000 from a Lexus dealer so the figures you quote sound about right I would say. 

[cdmaskell]

Sorry to hear about your recent theft attempt Mark.  Maybe be worth having the Lexus tracker fitted?  Also the other deterrents.  Motorway appears to be giving the best prices for s/h cars.  I myself are in quandary about my ES. Son and wife have been having a “pop” about getting something smaller. ( just bring the IS back!) It is so unforgiving in steering lock and size. I had an HGV licence for 45years and I get caught out at times. But I just cannot go down the SUV,  BMW , Merc and Audi route. Oh what a dilemma. For all its foibles I love driving it. Also it is distinctive and looks special.

 

[beyond the blue]

When you say a theft attempt, did they manage to move it or damage it? If you like the ES just try and protect it a little better to give you more piece of mind. Mine is currently in for repair after someone pranged the front of it, l have been given a 6 month old Audi A6 Quattro to drive meanwhile and although it's very nice it certainly isn't as nice as my ES.

[marks69]

1 hour ago, beyond the blue said:

When you say a theft attempt, did they manage to move it or damage it? If you like the ES just try and protect it a little better to give you more piece of mind. Mine is currently in for repair after someone pranged the front of it, l have been given a 6 month old Audi A6 Quattro to drive meanwhile and although it's very nice it certainly isn't as nice as my ES.

Sorry, maybe i wasn't very clear when i said 'attempt'.....the scumbags did actually take the car but the police managed to locate it and i  did get it back a couple of hours later thanks to the Lexus link app showing where it was. I have now taken extra measures like a steering lock and turning off the keyless entry and also using a Faraday pouch for my keys just to be extra sure.

[Dippo]

21 hours ago, marks69 said:

Yeah i understand what you're saying. My previous part exchange experience was on an Audi A5 which had prior to the Lexus, which i  lost just under £3000 for 3 years of ownership, so i thought i might get roughly the same ball park........not over triple the loss.

Looking at the age of your Lexus (your profile says 2021), I would guess that was when you traded in your Audi to buy it. That was at a time when Covid has caused massive supply problems for all brands, and new and used car prices were increasing rapidly. I think the £3000 loss on your Audi over three years is something to celebrate, but it was caused by exceptional circumstances, and is not a benchmark to be used for measuring depreciation.

[marks69]

1 hour ago, Dippo said:

Looking at the age of your Lexus (your profile says 2021), I would guess that was when you traded in your Audi to buy it. That was at a time when Covid has caused massive supply problems for all brands, and new and used car prices were increasing rapidly. I think the £3000 loss on your Audi over three years is something to celebrate, but it was caused by exceptional circumstances, and is not a benchmark to be used for measuring depreciation.

Ah now you mention it, i remember that used car prices had spiked somewhat, so now that things have settled down i suppose my way of thinking needs to be more like this is now 'The norm' and it is what it is.