Resale Value Of '07 Es350

[MaurieC]

Can anyone point me to a definitive source for the value of my '07 ES350? I'd hate to rely soley on a dealer. Thanks

[Rx330driver]

try kbb.com?

[MaurieC]

I've tried KBB, NADA, Edmunds, CarsDirect - All with no joy.

[Rx330driver]

Oh i get it, they havent updated it yet.

your just going to have to wait it out. but expect it to be 2-4K off your price already, depending on mileage.

[lexus411]

once a car is titled the value drop significantly. Trade in value is about $3-5k behind dealer invoice. Once its titled the dealers only option is to retail it , he cannot lease it. That drops his market by upwards to 75% Then deduct the % of customers that are too weary that it is a new car returned so quickly. That doesnt leave much of a market.

[MaurieC]

I took the car to CarMax on Saturday. So, a 2007 ES350, Ultra Luxury, 3958 miles, no dings, no accidents, no mechanical issues. CarMax offered me $34,000 - The original MSRP is $44,011 (plus I added the rear spoiler and side body mouldings). Sounds ridiculously low to me.

[SW03ES]

Eh, I don't know. For resale that doesn't sound that low to me, they have to be able to turn around and resell it, you can get a new UL 350 now for a 2k-3k discount, if they give you $34k and then turn around and sell it for 38k they're only making $4k, thats if they can sell it for 38k. The ULs were really rare in our area, but now they're pretty easy to get.

I'd sell it myself personally. Why are you selling it?

[larrynimmo]

I might be interested in purchasing your car.

I took the car to CarMax on Saturday. So, a 2007 ES350, Ultra Luxury, 3958 miles, no dings, no accidents, no mechanical issues. CarMax offered me $34,000 - The original MSRP is $44,011 (plus I added the rear spoiler and side body mouldings). Sounds ridiculously low to me.

[rooskie]

Well, CarMax is a dealer. They have the same business model as any other car dealer - buy low and sell high. I don't know why you would rely on them to give you a better offer than any other car dealership. Expect to get $4-5k less than you paid for it. The biggest depreciation hits come on a car during the first year and then again after the third year.

The '07's are being discounted a bit more now than they were when the model year was new. My sister just bought an ES for $1,500 less than they were selling for last fall when she was first given a quote on an identical model - from the same dealer. And since the '08 ES will be here in August, I expect the '07 will become even cheaper.

[backwoods lex]

I am not a fan of Carmax. I really got screwed on my last trade in (98 eclipse in 05 for $800) there. When you enter the showroom and you see the car that looks good but is actually a salvage--that's the car they sold me. I paid almost full book and learned that the car had been heavily damaged and many, many repairs were done. When I asked for a carfax, they brought me a generic vehicle background check company report. It is my own fault. I put myself in a position that I needed a car immediately and a general lack of knowledge about knowing if a car has been damaged. Just had to vent.

[SW03ES]

Was it Carmax certified? I would hire a lawyer and sue them, call all the local news stations and newspapers, even the national media. Their whole claim to fame is that they never sell cars that have been in serious accidents or that have salvage titles.

Now, if it was a Valumax car thats another story.

[backwoods lex]

Not valumax. Certified, I'm not sure. It came with I think the 90 day? warranty. I also purchased the 36 month warranty. Luckily, and amazingly, it has had very few issues. I doubt it actually been salvaged because the loan company wouldn't have financed it.

The issues include:

out of position gauge trim (suggesting it has been removed at one point)

out of position dash (top of it bows on the passenger side unnaturally) suggesting it has been removed

console misalligned and vinyl bunched together

all glass has been replaced (only the windshield does not say toyota)

replaced windshield (cheap-has that strange magnifying effect when viewed from behind)

trim on top of door has noticeable gap on both sides from body (this one really freaks me out)

bad repaint (not awful) with fish eye, weird miscoloring on hood, and light orange peel all around

misalligned front bumper

lower cladding shows bowing/lines not straight

all leather replaced

poorly blended pain in one section

rear window rolls down and forms a "shark fin"/triangle pattern. Anyone else have this?

orange gaskets exposed from transmission. Lexus dealer informed me they dont use orange gaskets

Something bad has happened to this car. I think I call that crazy biker guy fom the movie Raising Arizona instead of an attorney.

[SW03ES]

Thats well outside of the caliber of vehicle they are supposed to select and advertise that they select. If its not a salvage title though its not as strong a complaint...

As for the windows, thats how they're supposed to roll down.