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Depreciation

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Lexus ES350 owners....

I'm inches from buying an 07 ES350 (just looking for the right color and price). Wish me luck.... About as good as I can get for a well equipped 40K mile unit is $26K, In reading some other posts, some new 2010's were bought for 36K.

I'm not sure what an 07 went for in 07, and I know this is comparing apples to oranges, but real similar cars differing by the year that's about 10K over 4 years, so depreciation comes to $208/month (neglecting time value of money).

To me that's very good value.

You owners "feel" the same?

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Where the heck are you located? Where I live you can buy an 07 ES for less than $26K from a dealer and far, far (did I say FAR?) less in a private sale.

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Yea... There are over 100 with less than 45k miles on them located within 200 miles of me for $24,000 and under. Saw one for $19,000.

Price is way to high CPO or not. IMHO

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In August I traded a 05' ES330 for 14,000 with 41,000 miles. I purchased a 2010 ES for 36,500. before trade. Reading about the luxury car market over the last 9 months you should be able to negotiate a VERY good price, 23,000 or about. IMHO.

Paul

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great tips on price, i though my local dealer was way too high... originally they wanted 29K--KBB says is it's worth 25K.

I'll keep looking, still stuggling with and ES or a GS 350

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Two completely different cars both are great but "dumb" question have you drove both of them? ES has a much softer ride, GS is going to have a stiffer sportier ride which I kind of actually like. That choice is going to boil down to personal prefrence.

By the way Welcome to the Club! :cheers:

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KBB says is it's worth 25K.

KBB does not reflect the market -- I regard it as of very little value. It's as if KBB reflects "asking prices" while actual sales prices are much less.

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In my experience dealers are stupid overpriced on their CPO cars...I can't believe they actually get those prices but who knows...

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In my experience dealers are stupid overpriced on their CPO cars...I can't believe they actually get those prices but who knows...

Per usual, SW has been in the egg nog again and doesn't know what he's talking about.LOL(Joke) Dealers cost for certifying a car is about $1,000. If your a wrencher, you can usually get them to drop the cert. and save yourself some money. Of course on an 07' without some warranty you can inherit some trouble as well. I'm not a do it your self'er so I like the security blanket of buying a CPO.

Paul

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Oh I've been through a bunch of bottles of Egg Nog already!

I'm not a huge fan of the CPO program. I did a lot of looking around at '06 & '07 LS's before I bought my 350. I found a bunch of Certified cars that were really not in the shape one would expect a certified car to be in. The warranty is nice, but if you buy one within the 4 year 50k mile bumper to bumper warranty you can buy a Lexus warranty for MUCH less than the premium the dealers ask for CPO, and that warranty is transferrable if you sell the car which the CPO warranty is not.

I think most purchasers come on the lot and buy a CPO car assuming its in good shape, has been thoroughly reconditioned, has excellent service history, and really its just a car thats washed, had its front bumper repainted, and had $4k added to the sticker...

Like anything else there are exceptions, but I would worry more about finding the right car with the right history at the right price than whether or not its CPO.

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Oh I've been through a bunch of bottles of Egg Nog already!

I'm not a huge fan of the CPO program. I did a lot of looking around at '06 & '07 LS's before I bought my 350. I found a bunch of Certified cars that were really not in the shape one would expect a certified car to be in. The warranty is nice, but if you buy one within the 4 year 50k mile bumper to bumper warranty you can buy a Lexus warranty for MUCH less than the premium the dealers ask for CPO, and that warranty is transferrable if you sell the car which the CPO warranty is not.

I think most purchasers come on the lot and buy a CPO car assuming its in good shape, has been thoroughly reconditioned, has excellent service history, and really its just a car thats washed, had its front bumper repainted, and had $4k added to the sticker...

Like anything else there are exceptions, but I would worry more about finding the right car with the right history at the right price than whether or not its CPO.

Excellent points!!

Paul

(Pass the egg nog)

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Already drank it all!

86 the nog. I'll bring the Brandy, you bring the Rum.

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