They just offered me $31,300 on my one year old Lexus ES350 towards a 2009 335i

harrington · 08-25-2008, 12:53 PM

We pay 8.75% tax so I would be saving on tax on the new car purchase since they would be backing that off the price of the new car before figuring the tax in. He used KBB for the trade in price (Is this normal?). With tax I paid $43,000 for my Lexus. Should I drive The Lexus another year or just take the hit and trade her in. My Lexus only has 8,000 miles on it.

noro · 08-25-2008, 01:06 PM

The longer you drive the lexus the more you'll save. The worst thing you can do is give away a car after having for one year since this is the time where the car looses most of it value on per annual basis. That said, money comes and goes, if it makes you happy and you can afford it go for it.

EDK99 · 08-25-2008, 01:10 PM

So before taxes your Lexus was around 40k. Cars loose about 20% in value once you drive it off the lot so 20% of 40k is 8k so a dealer asking 31k for the trade in value seems reasonable. Driving it another year the car will depreciate more probably another 5k so now it will be a 26k trade in. If your monthly payments are around 500-600 you really are not making a dent in your loan to catch up to the depreciation to much in the first 2yrs of ownership. After 3yrs you should now have some equity in your car as the depreciation will taper off where your monthly payments will exceed the depreciation.

Since you have a 4-door I'm guessing you would get a e90 sedan. If that is the case then it is up to you. Your going to take just about the same hit the first 2 yrs of ownership. So take it now or take it next year.

If you are moving to a e92 coupe then I would wait one more year for the face lift (LCI) in 2010.

McLuVan · 08-25-2008, 01:11 PM

Quote:

Originally Posted by noro

The longer you drive the lexus the more you'll save. The worst thing you can do is give away a car after having for one year since this is the time where the car looses most of it value on per annual basis. That said, money comes and goes, if it makes you happy and you can afford it go for it.

+1
lexus ftw
I have a 03 lexus lx470 with almost 100k miles on it
nothing but oil changes
my 335i on the other hand went in.....literally....every other week

methodtim · 08-25-2008, 01:48 PM

Not directed at OP, but more of a general post.

What is up with all the peeps wanting to trade in 1 or 2 year old cars? Is this normal behavior or do we just have a lot of fiscally irresponsible people who can't resist new, shiny things? I thought the further I moved up the automotive food chain, the less I would see of this sort of thing. I guess I was wrong...

E46X2 · 08-25-2008, 03:16 PM

Keep the Lexus. IMO a $12k hit is a bit much; was the time and mileage with the car worth $12k? Thats the question I would ask myself. If you feel you've had your money's worth with the Lexus and are now ready to move onto something new then go for it. When did you buy the Lexus anyway and did you buy it outright, finance or lease? If you financed or leased goes $31k even get your out of the hole?

To the question of why people want to trade in 1 or 2 year old cars; some are leases and realize they are running out of miles; some buy on impulse; some get fed up with reliability issues; some can simply afford it; some dont want to run out of warranty; etc...

Spool · 08-25-2008, 03:19 PM

I lost 13 grand in value after 8 months of ownership in the 335i....first year hits are crucial, just hang on to it.

darkphantom · 08-25-2008, 03:25 PM

hang man, why do you want to sell the ES anyways? It's a solid luxury car...not extremely sporty, but it's quick enough and very pampering!

josephr25 · 08-25-2008, 04:11 PM

The Lexus is a very nice car. I wouldn't give it up even if it isn't what all the cool kids drive.

As for the 1-2 year old trade in question... my car was 2.5 years old before I bought my 335. I just liked the way the new car looked and performed. And yes, I live at home. I went to a dealership for a trade-in value and wasn't happy, so I said forget it. But then my mom said "call this dealership" since we used to get cars from there, and we got a good deal... 0.9 APR is hard to beat. I was going to sell my car but my parents decided they wanted a two-seater (I had a 350Z) so they decided to just take over the payments.

nhhiep · 08-25-2008, 05:35 PM

what? you paid 43k for a IS 350? that is your 1st mistake right there. should have put a few k more and got the 335 in the 1st place

don't prolong the mistake.... we all know what car you're dreaming of right now

and it's NOT your IS

E46X2 · 08-25-2008, 06:05 PM

Quote:

Originally Posted by nhhiep

what? you paid 43k for a IS 350? that is your 1st mistake right there. should have put a few k more and got the 335 in the 1st place

don't prolong the mistake.... we all know what car you're dreaming of right now

and it's NOT your IS

I think your first, or maybe even second, is not reading where it say "ES350."

nhhiep · 08-25-2008, 06:32 PM

my bad ..... now he paid that much and it wasn't even an IS? .... ES discussion shouldn't even be in this forum.

ALPINE6SPD · 08-25-2008, 06:43 PM

Quote:

Originally Posted by harrington

We pay 8.75% tax so I would be saving on tax on the new car purchase since they would be backing that off the price of the new car before figuring the tax in. He used KBB for the trade in price (Is this normal?). With tax I paid $43,000 for my Lexus. Should I drive The Lexus another year or just take the hit and trade her in. My Lexus only has 8,000 miles on it.

I am surprised he offered you that much. In NJ where I am they CANT GIVE them away. ALl the delaerships are stuck with the cars and noone wants them. I am not saying that it how I fell but I know that they are having MAJOR issues selling those around her. Not to be anm asshole but I see a ton of Camrys so I think most people got over the craze of having a lexus and realized how much that the Lexus and a Toyota Camry are alike and it is not worth buying the lexus to most owners. I could be wrong but it seems like that aound here. I believe that because we are up 26% in sales this year as opposed to last year so it is not like people are not spending money around here. Who knows. I would take that number and RUN. That is well above what we would buy that car for. Wholesale is thousands less.

ALPINE6SPD · 08-25-2008, 06:43 PM

Quote:

Originally Posted by nhhiep

what? you paid 43k for a IS 350? that is your 1st mistake right there. should have put a few k more and got the 335 in the 1st place

don't prolong the mistake.... we all know what car you're dreaming of right now

and it's NOT your IS

he did nt pay 43k that was the list price I bet. Thats why I would take the deal as the dealership is giving way more money than it is really worth espically on trade.

idyll · 08-25-2008, 06:45 PM

I wanted to get out of my E90 and into that Lexus! Ha

I'd listen to everyone here and not do it.. You'd lose too much for it to be worth it. In a year you'll be bored with the BMW too I'm sure. Maybe consider leasing instead of buying for the next go?

hellrotm · 08-25-2008, 06:47 PM

They offered over $30k for a Camry. Take it and run.

Staszek · 08-25-2008, 07:07 PM

If you really want the car 31k for a one year old ES350 on trade in is a very good price.

Put it this way I looked up what 2007 ES350's are going for in your area, (Buffalo, NY correct me if I am wrong) and my results are as follows

$31,995 for one with 13k
$32,995 for one with 19k
$36,795 for one with 1k

Your 8000 mile one would be in the same catagory as the 13k and 19k even though your under mileage the price doesnt go up unless you are way under and usually that doesnt help at all in the first year.

So basically what I am saying is if you REALLY want a new car take the 31k and run that is excellent for a trade in, they will probably sell it for what they are buying it for just to break even.

I am not sure if you have nav and mark levinson etc, but I just did a KBB with both and in excellent condition KBB lists tradin as $29k and KBB is notoriously high.

simp0man · 08-25-2008, 07:35 PM

Pay to play, I guess. If you got the money to throw, throw it at me. I can never get enough.

alan93rsa · 08-25-2008, 09:07 PM

If I were doing it over again I'd get the IS350. I'm a bit tired of reading about BMW's position on the 335.

rallycobra · 08-25-2008, 09:26 PM

31k, that's part of the deal. How much off MSRP are you getting off the 335i?

If you are paying full MSRP, they aren't doing you any favors.

If he is using KBB trade in price, he should sell you the BMW at invoice.

If he is using retail price, expect to pay close to MSRP on the bimmer.

If you are paying MSRP on the bimmer, and getting trade in price, you are getting a bad deal.

08-25-2008, 12:53 PM	#1
harrington Enlisted Member 12 Rep 43 Posts Drives: 2008 Lexus ES350 Join Date: Aug 2008 Location: Buffalo iTrader: (0)	They just offered me $31,300 on my one year old Lexus ES350 towards a 2009 335i We pay 8.75% tax so I would be saving on tax on the new car purchase since they would be backing that off the price of the new car before figuring the tax in. He used KBB for the trade in price (Is this normal?). With tax I paid $43,000 for my Lexus. Should I drive The Lexus another year or just take the hit and trade her in. My Lexus only has 8,000 miles on it.
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08-25-2008, 01:06 PM	#2
noro Colonel 93 Rep 2,707 Posts Drives: '91 M3, '04 E46 ZHP, '72 2002 Join Date: Aug 2006 Location: Boston iTrader: (0)	The longer you drive the lexus the more you'll save. The worst thing you can do is give away a car after having for one year since this is the time where the car looses most of it value on per annual basis. That said, money comes and goes, if it makes you happy and you can afford it go for it. __________________ zhpregistry.net - ZHP stats and free classifieds.
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08-25-2008, 01:10 PM	#3
EDK99 Captain 33 Rep 934 Posts Drives: 07 E85 M Join Date: Jul 2006 Location: FL iTrader: (0)	So before taxes your Lexus was around 40k. Cars loose about 20% in value once you drive it off the lot so 20% of 40k is 8k so a dealer asking 31k for the trade in value seems reasonable. Driving it another year the car will depreciate more probably another 5k so now it will be a 26k trade in. If your monthly payments are around 500-600 you really are not making a dent in your loan to catch up to the depreciation to much in the first 2yrs of ownership. After 3yrs you should now have some equity in your car as the depreciation will taper off where your monthly payments will exceed the depreciation. Since you have a 4-door I'm guessing you would get a e90 sedan. If that is the case then it is up to you. Your going to take just about the same hit the first 2 yrs of ownership. So take it now or take it next year. If you are moving to a e92 coupe then I would wait one more year for the face lift (LCI) in 2010. __________________ 2007 e85 Imola Red \| Black Leather \| Carbon Leather Trim \| Premium \| Navigation \| Heated Seats
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08-25-2008, 01:48 PM	#5
methodtim Brigadier General 417 Rep 3,918 Posts Drives: BMW X7 M60i Join Date: Mar 2007 Location: Darkness there, and nothing more iTrader: (0) Garage List 2025 BMW X7 M60i [9.50] 2021 BMW X3 M40i [0.00] 2017 Toyota Tacoma [0.00]	Not directed at OP, but more of a general post. What is up with all the peeps wanting to trade in 1 or 2 year old cars? Is this normal behavior or do we just have a lot of fiscally irresponsible people who can't resist new, shiny things? I thought the further I moved up the automotive food chain, the less I would see of this sort of thing. I guess I was wrong... __________________
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08-25-2008, 03:16 PM	#6
E46X2 Private First Class 4 Rep 102 Posts Drives: 4 Wheels and a gas tank Join Date: May 2007 Location: California iTrader: (0)	Keep the Lexus. IMO a $12k hit is a bit much; was the time and mileage with the car worth $12k? Thats the question I would ask myself. If you feel you've had your money's worth with the Lexus and are now ready to move onto something new then go for it. When did you buy the Lexus anyway and did you buy it outright, finance or lease? If you financed or leased goes $31k even get your out of the hole? To the question of why people want to trade in 1 or 2 year old cars; some are leases and realize they are running out of miles; some buy on impulse; some get fed up with reliability issues; some can simply afford it; some dont want to run out of warranty; etc...
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08-25-2008, 03:19 PM	#7
Spool ****** 622 Rep 6,169 Posts Drives: A few Join Date: Apr 2007 Location: DC Metro iTrader: (24)	I lost 13 grand in value after 8 months of ownership in the 335i....first year hits are crucial, just hang on to it. __________________ MKIV 6spd 1000hp Club
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08-25-2008, 03:25 PM	#8
darkphantom Banned 656 Rep 5,945 Posts Drives: E93 335i Join Date: Aug 2007 Location: The place for Bimmers iTrader: (4)	hang man, why do you want to sell the ES anyways? It's a solid luxury car...not extremely sporty, but it's quick enough and very pampering!
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08-25-2008, 04:11 PM	#9
josephr25 Major 79 Rep 1,456 Posts Drives: 2008 E92 335i Join Date: Aug 2008 Location: Irvine, CA iTrader: (2) Garage List 2008 BMW 335i Coupe [0.00]	The Lexus is a very nice car. I wouldn't give it up even if it isn't what all the cool kids drive. As for the 1-2 year old trade in question... my car was 2.5 years old before I bought my 335. I just liked the way the new car looked and performed. And yes, I live at home. I went to a dealership for a trade-in value and wasn't happy, so I said forget it. But then my mom said "call this dealership" since we used to get cars from there, and we got a good deal... 0.9 APR is hard to beat. I was going to sell my car but my parents decided they wanted a two-seater (I had a 350Z) so they decided to just take over the payments.
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08-25-2008, 05:35 PM	#10
nhhiep Captain 93 Rep 862 Posts Drives: bmw Join Date: Jan 2006 Location: Denver, CO iTrader: (0)	what? you paid 43k for a IS 350? that is your 1st mistake right there. should have put a few k more and got the 335 in the 1st place don't prolong the mistake.... we all know what car you're dreaming of right now and it's NOT your IS
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08-25-2008, 06:32 PM	#12
nhhiep Captain 93 Rep 862 Posts Drives: bmw Join Date: Jan 2006 Location: Denver, CO iTrader: (0)	my bad ..... now he paid that much and it wasn't even an IS? .... ES discussion shouldn't even be in this forum.
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08-25-2008, 06:45 PM	#15
idyll Private First Class 2 Rep 140 Posts Drives: BMW 328i Join Date: May 2008 Location: FL iTrader: (0)	I wanted to get out of my E90 and into that Lexus! Ha I'd listen to everyone here and not do it.. You'd lose too much for it to be worth it. In a year you'll be bored with the BMW too I'm sure. Maybe consider leasing instead of buying for the next go?
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08-25-2008, 06:47 PM	#16
hellrotm Banned 4080 Rep 6,924 Posts Drives: F80 Join Date: Jul 2007 Location: ...Location...Location iTrader: (0)	They offered over $30k for a Camry. Take it and run.
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08-25-2008, 07:07 PM	#17
Staszek Schumacher 803 Rep 2,302 Posts Drives: E30 325is,E93 M3,X7M50,F06 M6 Join Date: Jul 2005 Location: Lake Forest, IL iTrader: (0) Garage List 2013 BMW M3 [9.20] 1990 BMW 325is [9.00] 2022 BMW X7 M50 [10.00] 2018 BMW M6 Gran Coupe [9.93]	If you really want the car 31k for a one year old ES350 on trade in is a very good price. Put it this way I looked up what 2007 ES350's are going for in your area, (Buffalo, NY correct me if I am wrong) and my results are as follows $31,995 for one with 13k $32,995 for one with 19k $36,795 for one with 1k Your 8000 mile one would be in the same catagory as the 13k and 19k even though your under mileage the price doesnt go up unless you are way under and usually that doesnt help at all in the first year. So basically what I am saying is if you REALLY want a new car take the 31k and run that is excellent for a trade in, they will probably sell it for what they are buying it for just to break even. I am not sure if you have nav and mark levinson etc, but I just did a KBB with both and in excellent condition KBB lists tradin as $29k and KBB is notoriously high. __________________ Last edited by Staszek; 08-25-2008 at 07:42 PM..
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08-25-2008, 07:35 PM	#18
simp0man Not looking 2 SPEED, just looking GOOD 48 Rep 2,513 Posts Drives: 07 328i Join Date: Apr 2007 Location: Stockton, Ca iTrader: (1) Garage List 2007 328i [0.00]	Pay to play, I guess. If you got the money to throw, throw it at me. I can never get enough. __________________
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08-25-2008, 09:07 PM	#19
alan93rsa First Lieutenant 7 Rep 311 Posts Drives: 335i Coupe Crimson Red/Black Join Date: Jan 2008 Location: Cincinnati iTrader: (1)	If I were doing it over again I'd get the IS350. I'm a bit tired of reading about BMW's position on the 335. __________________ Alan
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08-25-2008, 09:26 PM	#20
rallycobra Private First Class 16 Rep 135 Posts Drives: 2008 M3 Join Date: Apr 2007 Location: Central NJ iTrader: (1)	31k, that's part of the deal. How much off MSRP are you getting off the 335i? If you are paying full MSRP, they aren't doing you any favors. If he is using KBB trade in price, he should sell you the BMW at invoice. If he is using retail price, expect to pay close to MSRP on the bimmer. If you are paying MSRP on the bimmer, and getting trade in price, you are getting a bad deal.
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