Anyone Privately Sell Their Lexus? V Is350 '08

[h3smith]

I bought my 08 when I was commuting 80 miles a day - it served its purpose. I am now looking to get rid of it (possibly getting a IS-F) since my commute is 2 miles, I want something fun.

Dealer sent my a "We want to buy back your car" offer (yes, get me in the showroom). But, I drove the IS-F and got the salesman to start talking about the 08 IS350. His claim is that the 09 IS350's are hard to come by as they are special order, so they have been trying to get 08's and resell as certified. They had none on their lot, but other local dealers were selling them for $34-35k.

I asked what they would offer me (I am probably going to get a beater and wait till 2010 and buy something else) - a whole $26,000 (KBB value, didn't even look at mine). Yes, they expect to make $8,000 off my vehicle. A bit insulted, I wrapped up my business and left. If they are in such high demand, I could easily get $30's for it.

I still have a note on it, so that is my biggest concern. I've never privately sold a vehicle, so it is all new to me. I need new tires, 30,000 mile checkup, and new brakes by 35,000. Is it worth getting new tires and brakes and trying to sell, or just let the possible buyer choose whatever they want?

The only issues with the vehicle are it has a few knicks and a few small dents from MORONS at the subway parking lot, everything else on the vehicle is outstanding.

[1990LS400]

Even in the best of economic times, it can be difficult for an individual to sell a car as new as yours. Unlike a dealer, you can not offer a buyer financing or leasing. Just getting people to look at your car could be a challenge - particularly if it is an almost new car and has cosmetic issues. "Churning" a car as new as yours is an extraordinarily bad economic proposition. If you are in financial trouble, seriously consider taking the dealer's offer. If you feel that you just need to "dump" the car, seriously consider the dealer's offer. The dealer is all set up to "recondition" your car before sale -- repaint the bumpers and have all the dings removed. You are not.

Try to sell it privately if you want to but the dealer is probably giving you a better offer than you realize. It's a weak car market.

The most financially efficient route is to keep the car well past the time you have it paid off. And next time, save up the money and pay cash for cars like we do -- its far less expensive than financing cars and isn't at all that difficult to do.

[bartkat]

Look up fair market value at Edmunds.com. What with the dings and stuff, your car doesn't sound all that pristine. To a prospective buyer or even the dealer that indicates other things that may have been neglected. To sell as certified the dealer is going to have to fix that plus you can include the cost of the equivalent to a platinum warranty so subtract that from your trade value as well.

[h3smith]

Thanks for the input.

I could eat it, I am not hurting for cash. With the $3000 I have to drop between new tires, brakes, 30k mile checkup, extended warranty, I would only be "eating" a $2000 depreciation.

Maybe I can see if they can come up a bit on the offer.