Bulldog 1
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Kicked around some numbers with my VIP sales manager recently since my cars are turning one this month. I normally roll out about 18-24 months in, but I did negotiate out of a 2014 into a 2015, so I'm never shy about asking.
What got my attention was the abysmal value I was presented for a pristine 2015 ES350.
The MSRP was $38,500 and with only 3,100 miles on it in 12 months, the value was placed at $26,900.
That's a 31% loss in 12 months for an ultra-ultra low mileage car.
If Lexus cars are really suffering that level of residual loss, I might as well go back to leasing American cars where a low residual is expected.
All of my lease turn ins have become CPO for the dealer, and I'm sure my two present cars would be the same.
Pretty shocked at such a heavy hit to the value in 12 months. I'm sure if I had the normal 10-12K miles per year on it, it would be even worse.
Guess we're hanging on to the full term and then time to shop alternatives.
What got my attention was the abysmal value I was presented for a pristine 2015 ES350.
The MSRP was $38,500 and with only 3,100 miles on it in 12 months, the value was placed at $26,900.
That's a 31% loss in 12 months for an ultra-ultra low mileage car.
If Lexus cars are really suffering that level of residual loss, I might as well go back to leasing American cars where a low residual is expected.
All of my lease turn ins have become CPO for the dealer, and I'm sure my two present cars would be the same.
Pretty shocked at such a heavy hit to the value in 12 months. I'm sure if I had the normal 10-12K miles per year on it, it would be even worse.
Guess we're hanging on to the full term and then time to shop alternatives.