U.S. CitiesCity-Data Forum Index
Go Back   City-Data Forum > General Forums > Automotive
 [Register]
Please register to participate in our discussions with 2 million other members - it's free and quick! Some forums can only be seen by registered members. After you create your account, you'll be able to customize options and access all our 15,000 new posts/day with fewer ads.
View detailed profile (Advanced) or search
site with Google Custom Search

Search Forums  (Advanced)
Reply Start New Thread
 
Old 01-26-2019, 02:00 PM
 
Location: Lee County, NC
1,250 posts, read 387,529 times
Reputation: 1506

Advertisements

Quote:
Originally Posted by HappyRider View Post
My Lexus ES, which I bought new, will be three years old in July. By then, it will have about 35,000 miles on it. There is a sweet spot for selling your car to get the most out of it but I'm not sure when that is. You don't want to wait until it hits 100,000 miles. Some say to keep it as long as it runs but I am not looking forward to driving around a 10 year old car, even if it's a Lexus.
I trade around every 3 years because that's when I start to get bored and want something different. My '16 F-150 is coming up on that mark soon.

I lose money, but it's nowhere near as bad as most people exaggerate it to be.
Reply With Quote Quick reply to this message

 
Old 01-26-2019, 03:57 PM
 
Location: Riding a rock floating through space
1,133 posts, read 300,717 times
Reputation: 3041
Quote:
Originally Posted by HappyRider View Post
My Lexus ES, which I bought new, will be three years old in July. By then, it will have about 35,000 miles on it. There is a sweet spot for selling your car to get the most out of it but I'm not sure when that is. You don't want to wait until it hits 100,000 miles. Some say to keep it as long as it runs but I am not looking forward to driving around a 10 year old car, even if it's a Lexus.
The first years suffer the greatest depreciation drops, I'd say you are much better off waiting a few more years till 90k or so before trading for a new car when you can start the bend-over all over again.
Reply With Quote Quick reply to this message
 
Old 01-26-2019, 04:40 PM
 
Location: Montgomery County, PA
14,235 posts, read 9,117,025 times
Reputation: 11672
Quote:
Originally Posted by Gatopescado View Post
Trade? Never. Dealer will offer you about a 1/3 of it's value.
Years ago I was trying to trade in my three-year-old car. The dealer offered $8K. When I said Kelley blue book says $11K, he asked is Mr. Kelley paying? Don't get too excited when you see those retail prices. You won't get them. You get paid on the spot but the dealer has to park that car for months to get his money back.
Reply With Quote Quick reply to this message
 
Old 01-26-2019, 04:43 PM
 
Location: Montgomery County, PA
14,235 posts, read 9,117,025 times
Reputation: 11672
Quote:
Originally Posted by somebodyfromnc View Post
I trade around every 3 years because that's when I start to get bored and want something different. My '16 F-150 is coming up on that mark soon.

I lose money, but it's nowhere near as bad as most people exaggerate it to be.
You lose money either way. Hang on to something too long and it isn't worth much. You have to start with little or no equity.
Reply With Quote Quick reply to this message
 
Old 01-26-2019, 06:36 PM
 
Location: Vermont
314 posts, read 77,145 times
Reputation: 562
Quote:
Originally Posted by HappyRider View Post
Years ago I was trying to trade in my three-year-old car. The dealer offered $8K. When I said Kelley blue book says $11K, he asked is Mr. Kelley paying? Don't get too excited when you see those retail prices. You won't get them. You get paid on the spot but the dealer has to park that car for months to get his money back.
Every car I've ever sold, I've sold above blue book. Right now used car prices are inflated for whatever reason which makes selling one at a more reasonable price extremely easy.

Did you check to see what cars like that were actually going for locally, private party?
Reply With Quote Quick reply to this message
 
Old 01-26-2019, 07:36 PM
 
26,245 posts, read 50,741,169 times
Reputation: 19922
I drove the $800 Plymouth Valiant I bought in school for 20 years... it was my daily driver.

Still have and turned down $2500 for it...

I currently owned 50 vehicles and not once have I ever sold a car for less than I had in it.

Many were convertibles of all types... I would drive them and when the right offer came along... sell.

Owning a car doesn't have to be a depreciating asset.

My Boss bought a brand new showroom Ford 2006 GT... his dream car.

He owned it 6 years and due to health problems sold it... he sold it for 50k more than he paid NEW 6 years prior... just saying.
Reply With Quote Quick reply to this message
 
Old 01-26-2019, 10:25 PM
 
Location: Vallejo
13,672 posts, read 15,450,585 times
Reputation: 12211
Quote:
Originally Posted by HappyRider View Post
My Lexus ES, which I bought new, will be three years old in July. By then, it will have about 35,000 miles on it. There is a sweet spot for selling your car to get the most out of it but I'm not sure when that is. You don't want to wait until it hits 100,000 miles. Some say to keep it as long as it runs but I am not looking forward to driving around a 10 year old car, even if it's a Lexus.
Best for what?

Most cost effective? Let's get real. It's a Camry on a stretched platform with a nicer interior. 10 years/100k miles is well within the sweet spot for a Camry on a stretched platform with a nicer interior. There's no finicky stuff to break mechanically. It's a Camry powertrain, conventional non-adaptive suspension.

Private party a '15 is going to be worth $20-23k or so. A '12 is more like $12-15k. That should give you an idea of the depreciation curve. It's already late model so no rush to trade in to beat that drop in value. It's already occurred. Not sure what you paid new but maybe $15k or so depreciation in three years and another $8-10k over the next three. Then they start leveling off.

Really, that's your sweet spot. Buy it when it's 5-7 years old and drive it until it's around 12. Then unload it before it starts having lots of problems. Let the first owner(s) take the $20-25k depreciation hit. Something like an ES there is no sweet spot buying new. The closest you can do is hold it for through the sweet spot.
Reply With Quote Quick reply to this message
 
Old 01-26-2019, 11:04 PM
 
Location: Vallejo
13,672 posts, read 15,450,585 times
Reputation: 12211
Quote:
Originally Posted by HappyRider View Post
You lose money either way. Hang on to something too long and it isn't worth much. You have to start with little or no equity.
On the other hand, you start with several years of not making payments.

Last car I sold at 7.5. On a typical five-year note that would mean 30 months or around $9,000 in not making car payments on a typical $300ish economy car note. Sold for $6,000. No way I could have gotten $15,000 when it was five years old. I only paid $18,000 for it new. I could have, and probably should have, held onto it longer.
Reply With Quote Quick reply to this message
 
Old 01-27-2019, 05:13 AM
 
12,372 posts, read 6,444,319 times
Reputation: 22855
Quote:
Originally Posted by HappyRider View Post
My Lexus ES, which I bought new,
Itís a tricked out Camry. Your best ROI is to put 200,000 miles on it. The dealer will still give you the $2,000 auction price as a trade. It will end up on a buy-here/pay-here lot where somebody with lousy credit will pay 12% interest and $4,500 because it is a Lexus.
Reply With Quote Quick reply to this message
 
Old 01-27-2019, 08:21 AM
 
3,314 posts, read 629,981 times
Reputation: 1889
Quote:
Originally Posted by GeoffD View Post
Itís a tricked out Camry. Your best ROI is to put 200,000 miles on it. The dealer will still give you the $2,000 auction price as a trade. It will end up on a buy-here/pay-here lot where somebody with lousy credit will pay 12% interest and $4,500 because it is a Lexus.
You USED to be correct... way, way back in the early 2000's.

That is no longer the case. A closer comparison would be an Avalon, but I never could figure out why anyone would buy that over a Lexus.
Reply With Quote Quick reply to this message
Please register to post and access all features of our very popular forum. It is free and quick. Over $68,000 in prizes has already been given out to active posters on our forum. Additional giveaways are planned.

Detailed information about all U.S. cities, counties, and zip codes on our site: City-data.com.


Reply

Quick Reply
Message:


Over $104,000 in prizes was already given out to active posters on our forum and additional giveaways are planned!

Go Back   City-Data Forum > General Forums > Automotive
Similar Threads
Follow City-Data.com founder on our Forum or

All times are GMT -6.

© 2005-2019, Advameg, Inc.

City-Data.com - Archive 1, 2, 3, 4, 5, 6, 7, 8, 9, 10, 11, 12, 13, 14, 15, 16, 17, 18, 19, 20, 21, 22, 23, 24, 25, 26, 27, 28, 29, 30, 31, 32, 33, 34, 35 - Top