Trade In Your 430 Today

[dboy430]

I was watching Monday night football (what a return by the bears Devin Hester) and I saw the new 460. If you got money you need to get that 460. A guy in his mid 20's like myself can finally get a 430 because all the people with big cake will be trading there 430 in. Nobody in there right mind with big paper will keep the 430. which is good for a poor entry level college grad with big dreams and taste like myself. GO GET A 460 IT WILL MAKE ME HAPPY

[Patric]

If I buy a 460 I will only have a 400 to add to the used pool, although a very nice one.

Dealer invite is for this Friday. Horse dourves to be served with test drives.

Pat :)

[nc211]

You probably won't be seeing too many used LS430 being traded in for the LS460......But I bet you'll see quite a bit MB S500's being towed in for trade! Hahahaha

[SW03ES]

Nobody in there right mind with big paper will keep the 430.

This isn't true. In fact in my experience the more money people have the less interested they are in taking rediculous losses just to have the big new thing. Its people who live outside their means and who'se main focus is impressing others that do that sort of thing.

If I had an 04-06 LS430 I wouldn't trade it on an LS460. If I had an 01-03 or an LS400 maybe. In fact, I'd be tempted to buy an 06 LS430 right after the 460s come in to get the best deal. I could go write a check for an LS460, doesn't make it a smart financial decision.

[DanW]

Nobody in there right mind with big paper will keep the 430.

This isn't true. In fact in my experience the more money people have the less interested they are in taking rediculous losses just to have the big new thing. Its people who live outside their means and who'se main focus is impressing others that do that sort of thing.

If I had an 04-06 LS430 I wouldn't trade it on an LS460. If I had an 01-03 or an LS400 maybe. In fact, I'd be tempted to buy an 06 LS430 right after the 460s come in to get the best deal. I could go write a check for an LS460, doesn't make it a smart financial decision.

I like the approach...'please flood the market with something I would like to buy' That's great! But true story: when I did oil/gas contracts in Oklahoma and Texas, there was one oil bigshot (won't mention name) who was a billionaire and bought his wife a car for her birthday. A SATURN. Seems a lot of cash-rich folks are cheapskates. I too am a cheapskate but for some reason I'm not cash-rich.

[SW03ES]

It has nothing to do with being a cheapskate, it has to do with being financially conservative. If you look at most wealthy businesspeople, not celebrities but people who have built wealth themselves, they are almost always very financially conservative. I'm that way myself (it takes practice, believe me). I'm hardly rich, but I have a lot for someone of my age mainly because I've been smart with how I use what I DO have. I would love to go out and buy an LS right now, and I could do that, but it doesn't fit into the game plan right now. I have a nice home, nice car, nice clothes, but I don't go out and blow thousands of dollars at a stint on stuff I want on a whim like a lot of other people I know do. I take time and make rational purchasing decisions. Trading in a perfectly good and almost new LS430 on an LS460 is a whim.

Cars are an expenditure, money spent on them is money that could be invested in something worthwhile. I love cars, and for me having a nice car is important and something I'm willing to spend money on. For some people however, like the person you mentioned, its not a focus at all. Since its not a focus for him its something thats not worth assigning his capital to.

You build wealth by being financially conservative.

[wandawoods]

Bill Gates' old 90 LS400 for sale on eBay:

http://cgi.ebay.com/ebaymotors/Lexus-LS-LS...sspagenameZWDVW

if a LS400 was good enough for Bill Gates, who prolly is rich enough to buy entire Lexus division from Toyota, a LS430 is definitely good enough for all of us!

[dboy430]

maybe but all the ls 430 with low miles are corporate fleets any way. If i have an 02 lexus it better be paid off by 06 or i dont need a lexus. Therefore trade it in before the value leaves. Cheap !Removed! Bill Gates will even nod to that. Spend some money people you cant spend it when your dead

[falciott]

They use LS430s' as corporate fleets? Uhmm... interesting!! Anyway... they were asking 40K for Gates' 1990 LS? It might be a great car, but it's not a classic! And all that ,because the multi billionaire put his derrier in it?! Heck.. he hasn;t even passed away yet.. isn;t that when value usually goes up? Just putting my unwanted 3 cents,

[SW03ES]

Therefore trade it in before the value leaves.

Flawed logic. The bulk of a vehicle's depreciation happens in the first 3 years, after that you don't save much depreciation by trading a vehicle in. The absolute cheapest way to drive a car like an LS? Buy one 3 years old and drive it for 10. Thats the best way to protect yourself from repair costs and liability for depreciation.

Now, I don't like used cars so I don't do that, but that is the cheapest way.

Cheap !Removed! Bill Gates will even nod to that. Spend some money people you cant spend it when your dead

You may feel that way now, but what about when you're 65 and can't retire because you've spent everything you've ever earned? Believe me, it happens and it happens to most people. The bulk of people in the 45-65 year old age bracket today will NEVER be able to fully retire because they have not actively saved and invested for their retirement. I know people who make $400,000 a year and have *nothing* because they've spent everything they've ever made. Its REALLY easy to do, believe me.

I spend money, I spend way more money than I should actually. I drive a $40,000 car, I live in a nice home and have nice furniture and TVs etc, I wear nice clothes, we eat out a lot and take great vacations. Almost nobody my age lives like I do. BUT, I have a comprehensive long term plan to save for my retirement. When I plan out my finances every month, funding that plan is TOP priority. It comes before buying food or paying my mortgage. Whatever's left over is what we enjoy, and some months its not much (like this month LOL). Some months its a lot...

BUT when I'm 55 my wife and I are going to be kicking back on some tropical island full of half naked women (more fun for me than her lol) drinking pina coladas while our kids go to college and never have to worry about student loans. If being able to do that means I have to wait a few years to drive an LS460, or even never drive one at all, thats not a problem for me.

I'm only saying this because I believe its really important that other young people realize whats facing them 30-40 years down the road. We are on our own for retirement, the government isn't going to be there for us the way it was for our grandparents or even our parents. We're going to live a LOT longer than they are/did too, probably by the time we get there the average lifespan will be close to 100 years. That means we have to be able to create a retirement plan that can fund the lifestyles we want for much longer than retireing people do today. For me its 45 years. For people content to work longer than me it would obviously be less.

You need to start getting used to living on 50-75% of your availiable cash flow now (yes, after taxes). There are a lot of different ways to invest, and ways to structure your investments so they minimize your tax liability. So, get a good financial planner now and discuss your goals. If you get used to being disciplined with your money now it won't hurt, if you make radical changes to your lifestyle when you're 50 and realize you have nothing it will hurt.

If you want books and stuff to read about this, just ask.

They use LS430s' as corporate fleets? Uhmm... interesting!!

Not really as fleets, but companies do lease them to give them to executives etc. My dad's LS430 is a corporate car.

I think he means most 3 year old LS' on the used market were leases, which is true.

Anyway... they were asking 40K for Gates' 1990 LS? It might be a great car, but it's not a classic! And all that ,because the multi billionaire put his derrier in it?!

Notice nobody even bid on it LOL

[Patric]

Steve, your financial thoughts and advice are well taken.

I wish all young people had your outlook toward their fiscal future.

I will be retiring next month and although I have to admit my late start and lack of conviction on building a nest egg may have limited where I am now, I feel fortunate that I'm in a position to be able to retire at all as I know several people who never will. Any work I do in the future can now be on a volunteer basis.

Although sooner is better than later on building financial security, the main thing is to Start.

Pat :)

[SW03ES]

Congratulations and good luck with your retirement!

[lexuus]

wow steve you must be one heck of a realtor (i think thats what you said you were in some old post)! must have a real good savings plan if ur lookin to be on an island at age 55, haha. for 30-something you seem like you know to save money, but i am sure theres tons of people just like you.

[nc211]

....well he can't be that good, he does drive an ES for PeteSake.....hahahaha Gotcha!

Actually, where Steve works is one of the most expensive areas to live, and has a relatively high turn over rate. The DC area has a "typical" resident stay of about 3 or 4 years, then most folks head out. So, you match high real estate prices with a higher than average turn over rate, you get goooooood business! Not to mention, the nations lowest vacancy & unemployment rates, by far! I'm in the commercial real estate lending game myself, and have a few developer clients in the DC area. We're gearing up to do our 5th apartment project in DC soon.

If you work for an employer, or part of a union that offers matching 401k's, it is almost essential to adjust your current lifestyle to allow you to fund the 401k at max levels. The main reason why I fuss with my 11 year old LS, is because it's nearly paid off, and I want to assign that car payment to the 401k for as long as I can, before I have to replace the car. I would love to pony up for the 01 or 02 LS430, but I know in 5 years, my retirement account won't be any better, and all I'll have to show for it is another 10 year old LS.

I learned a long time ago the difference between the truly wealthy, and the truly wealthy "now". We lived in an area of Birmingham called "Mountain Brook" for a few years back in the late 80's. At the time, that was the most expensive part of Alabama. We moved to Overland Park, Kansas thereafter, another nice area. The folks in Mtn. Brook were loaded, but you never really saw flashy cars driving around, just older diesel MB's. We moved to OP, KS, and there were a ton of flashy cars running around. Funny how most of my friends' parents back in Alabama have all retired to the coast, live in nice homes, and play golf all day; while most of my friends' parents in OP, KS are far from retirement, and still trying to "keep up with the Jones" next door.

Me? I couldn't care less about flash. I'm more of a "function over form" guy. I don't care what it looks like, but rather how well does it work. That's the main reason why I love my 11 year old, fully depreciated, door dinged, LS400. It has some age on the exterior, but rides, drives, and looks, pretty darn close to new on the inside. My tax bill on the car is less than a night out drinking beer with my buddies. And the payment is less than a lease payment for a Kia, which should be paid off in about 11 months. If I can keep her running this good for another few years, and put that payment "plus a little more" into my 401k, which my employer matches at 75%, then the ball is rolling! 401k's are like your first year of college. If you tank your GPA in your freshman year, you'll be pulling it up for next 3 or 4 years. 401k's are similiar in the sense that if you can put a lot of money in at the beginning, then the time value of money and interest accrual plays in your favor...aka...$1 = $5 when you need it. If you put in a little at first, then $1 = $1.50. Not exactly correct math there, but you get the point...

[DanW]

Therefore trade it in before the value leaves.

Flawed logic. The bulk of a vehicle's depreciation happens in the first 3 years, after that you don't save much depreciation by trading a vehicle in. The absolute cheapest way to drive a car like an LS? Buy one 3 years old and drive it for 10. Thats the best way to protect yourself from repair costs and liability for depreciation.

Yes. Let someone else eat the brunt of depreciation and then prorate the rest or the loss over a long time (like 10 years) preferably with a vehicle that consistently has that longevity....like the LS. That's usually the most cost-effective route.

Yeah I hear the 'trade before it loses value' argument a lot. I also here 'if the dollar is being devalued I should buy a new car NOW!' The net result is really just eating depriciation/building negative equity over time. Gotta carry your equity in some capacity or another to combat inflation/recession/Red Dawn/etc. All your assests/investments will accrue equity in one direction or another just be sure you know which direction its accruing and you're ok with it.

[dboy430]

You guys especially one of you is not hearing what Im saying. Im young and naive to some things like women, flash, and cash. But im smart as hell about making and managing this money. I work with a shoe company with grassroots basketball and I hold showcase events in VA and NC. I also go to auctions purchase cars and sell them. With this info I realized cars really are not worth anytihing after a while. Therefore my perspective is find the best luxury vehicle you can find (used) and just do it big. Let people see you shining and sell it for a little profit. Example: I took a guy to an auction he bought a LS400 96 $3500. He just had to do work on a/c (minor work 350). He drove it around for a while traded it in and got 10,000 in trade in. As far as corporate fleets and how do I know alot of these cars are corporate fleets. i work with a great deal of D1 basketball coaches and they tell me the cars are on exspence reports by the university. Two I see it when I do carfax reports on some of the cars I look at for purchase at the auction. Me I got $9,000 to blow Im going to Florida after christmas when all the dealers at Manheim are broke because Christmas and Im going to get me a LS430 at least 03 with navigation higher miles 85000-110,000. Im going to drive it, have s*x with some older lawyer chics, business women, doctors, female principals, nurses any chic with money. Ill be sure to have pics, of the car ofcourse

[nc211]

You guys especially one of you is not hearing what Im saying. Im young and naive to some things like women, flash, and cash. But im smart as hell about making and managing this money. I work with a shoe company with grassroots basketball and I hold showcase events in VA and NC. I also go to auctions purchase cars and sell them. With this info I realized cars really are not worth anytihing after a while. Therefore my perspective is find the best luxury vehicle you can find (used) and just do it big. Let people see you shining and sell it for a little profit. Example: I took a guy to an auction he bought a LS400 96 $3500. He just had to do work on a/c (minor work 350). He drove it around for a while traded it in and got 10,000 in trade in. As far as corporate fleets and how do I know alot of these cars are corporate fleets. i work with a great deal of D1 basketball coaches and they tell me the cars are on exspence reports by the university. Two I see it when I do carfax reports on some of the cars I look at for purchase at the auction. Me I got $9,000 to blow Im going to Florida after christmas when all the dealers at Manheim are broke because Christmas and Im going to get me a LS430 at least 03 with navigation higher miles 85000-110,000. Im going to drive it, have s*x with some older lawyer chics, business women, doctors, female principals, nurses any chic with money. Ill be sure to have pics, of the car ofcourse

Oh, we hear ya' son, loud and clear. We've all been there too, and probably don't care to return to those days, other than a few chuckles with the few remaining buddies that survived that time period in our lives.

Please post pictures....of the car though, I don't think anyone here cares to see the other stuff. But I think we would all like to see what kind of LS430 you can get, for $9,000. Becuase if you can get a 2003+ LS430 for $9k....you might want to have another $9k to invest, to get it fixed.

Don't worry about being naive..... the "women" part in being "naive about women, flash and cash" will certainly fix that... You'll need another $9k for fancy dinners, shows, trips, clothes and flowers to hook up with those kinds of chics. If you think the car will get you in the endzone alone, think again. Chic's don't see the car, they see the "Lexus" which translates into "jewels, flowers, trips, clothes, shows, dinners, furniture, 2,000 SqFt, etc...." If all you've got for that lawyer/business/doctor/principal chic is a car, then you got no game for the dame, which means you got no way to tame her bootie-game. Or at least the ones that don't have a little "suprise" to share with you, and your doctor.

But, I'm not naive about women, flash and cash, so my advice is probably off a bit. You might find better advice about that on the other club lexus website.

[dboy430]

Im starting to see people on this site has a lot of money class and style i like that yall teaching the young boy alot. but I got the hook up at the auction For real

[Imzjustplayin]

It has nothing to do with being a cheapskate, it has to do with being financially conservative. If you look at most wealthy businesspeople, not celebrities but people who have built wealth themselves, they are almost always very financially conservative. I'm that way myself (it takes practice, believe me). I'm hardly rich, but I have a lot for someone of my age mainly because I've been smart with how I use what I DO have. I would love to go out and buy an LS right now, and I could do that, but it doesn't fit into the game plan right now. I have a nice home, nice car, nice clothes, but I don't go out and blow thousands of dollars at a stint on stuff I want on a whim like a lot of other people I know do. I take time and make rational purchasing decisions. Trading in a perfectly good and almost new LS430 on an LS460 is a whim.

Cars are an expenditure, money spent on them is money that could be invested in something worthwhile. I love cars, and for me having a nice car is important and something I'm willing to spend money on. For some people however, like the person you mentioned, its not a focus at all. Since its not a focus for him its something thats not worth assigning his capital to.

You build wealth by being financially conservative.

yeah but a saturn IS cheap. I know someone is cheap when even my dad says they're cheap...

[OmarG]

Dboy,

buy me a car. be my broker. My dad wants to get my mom some nicer wheels for xmas!

[SW03ES]

wow steve you must be one heck of a realtor (i think thats what you said you were in some old post)! must have a real good savings plan if ur lookin to be on an island at age 55, haha. for 30-something you seem like you know to save money, but i am sure theres tons of people just like you.

I'm actually 25 ;)

I am also one heck of a Realtor but thats beside the point, anybody can do this regardless of what they do or what they make. It just takes a start in planning and saving. Starting and setting the habits of saving and investing is the hardest part.

You're right, there are a lot of people with similar approaches to money as mine, but MOST people squander all of their money and never build any wealth with it. If everyone was like me social security and medicare wouldn't be an issue in this country because nobody would need it.

You guys especially one of you is not hearing what Im saying. Im young and naive to some things like women, flash, and cash. But im smart as hell about making and managing this money.

You and I are the same age. No offense, but if you can't understand why someone with money wouldn't trade a 430 in on a 460 you aren't "smart as hell" about managing money. Making money is easy, managing money and building wealth is harder.

Don't worry about being naive..... the "women" part in being "naive about women, flash and cash" will certainly fix that... You'll need another $9k for fancy dinners, shows, trips, clothes and flowers to hook up with those kinds of chics. If you think the car will get you in the endzone alone, think again. Chic's don't see the car, they see the "Lexus" which translates into "jewels, flowers, trips, clothes, shows, dinners, furniture, 2,000 SqFt, etc...." If all you've got for that lawyer/business/doctor/principal chic is a car, then you got no game for the dame, which means you got no way to tame her bootie-game. Or at least the ones that don't have a little "suprise" to share with you, and your doctor.

LOL NC, from his posts I think our friend here has some maturing to do before he can fully appreciate what we're saying. Especially since he thinks nurses are "chicks with money".

I'm kidding of course, but you should do yourself a favor and listen more and talk less dboy. You may think you've got it all figured out, but you don't.

[AustinGT]

Good advice nc211- As much as I would love to own the LS460 I will preview at the local country club Friday courtesy of the local dealer (or even a 04-06 LS), I will stick with my 92 and watch my friends bury themselves in debt trying to keep new cars. Sure, the maintanance costs are a little higher, but my LS will still outrun most of their Tahoes and Hondas. And SW03ES, I sure hope the worthwhile girls don't care too much about cars, because although I love my LS, the LS is not known for being a hot ride among early- twenties college students! Even ones that are meticulously cared for like mine....oh well....interesting post so far......

[lexuus]

wow steve you must be one heck of a realtor (i think thats what you said you were in some old post)! must have a real good savings plan if ur lookin to be on an island at age 55, haha. for 30-something you seem like you know to save money, but i am sure theres tons of people just like you.

I'm actually 25 ;)

I am also one heck of a Realtor but thats beside the point, anybody can do this regardless of what they do or what they make. It just takes a start in planning and saving. Starting and setting the habits of saving and investing is the hardest part.

You're right, there are a lot of people with similar approaches to money as mine, but MOST people squander all of their money and never build any wealth with it. If everyone was like me social security and medicare wouldn't be an issue in this country because nobody would need it.

as you can see, i thought you were at least 30. anyway i am obligated to congratulate you on being 22 when you bought a dark red ES300. :D LOSER, haha just kidding. just wondering though did u/where did you go to college? and also how old were you when u started in the realty business?

[OmarG]

25?? holy crap. you only like 7 years older than me. Damn i needa get on the ball and do somethin with my life.

[wandawoods]

....I'm actually 25 ;)

I am also one heck of a Realtor but thats beside the point, anybody can do this regardless of what they do or what they make. It just takes a start in planning and saving. Starting and setting the habits of saving and investing is the hardest part.

You're right, there are a lot of people with similar approaches to money as mine, but MOST people squander all of their money and never build any wealth with it. If everyone was like me social security and medicare wouldn't be an issue in this country because nobody would need it.

your good advices to your younger peers deserve a giant size thumb up!

guess what my 10-year son got from his old man on his 10th birthday last month? other than a shinny nintendo DS, he also receive a $5K ROTH IRA in his own name. yes, Roth for a 10-year-old! don't ever under-estimate the power of acummulating saving for retirement! $5K today can turn into over half a million wealth when he retires at 65 wihtout even adding a dime in next 55 years:

http://www.finance.cch.com/sohoApplets/RothIRA.asp

I could write a $65K check for a spanking new LS460 without breaking a sweat and no stupid car loan needed either. but why I would want to do such foolish thing? I'm perfect fine with the 02 LS430 I just picked up from eBay! it looks new, feel new, and it drives like new, make folks turning head like new, yet someone over Texas paid the 1st $30K for me! can't really beat that! AND guess what? if I had given my sons the $30K saving from not buying a brand new LS460, he is going to have 3.4 million dollars in his Roth account at age 65! and best of all, the 3.4mil is entirely tax free!

can't never be too early to plan your retirement!