Buy current lease car - Lexus IS300h

[Casa1862]

After being told by the supplying Lexus dealer I couldn't buy it, Toyota finance have come back with a price of £17500, it’s an IS300h 2015 (15) done 16k miles and is the executive version with Sat nav, leather, Xenon, heated seats, keyless etc, it’s very similar to this one just in black, will be 2 years old in June......£17.5k a good price???

http://www.autotrader.co.uk/classified/advert/2016...

I leased at 6 + 23 x £224 so total lease cost of £6496.00, if I buy it now, my cost would be £23996, two years ago best purchase price was £28.5k so cheaper to lease in my case.

Any idea what this car would be worth in 5 years with 60k miles, I know crystal ball stuff but if it's still worth £10k then could be an idea to buy it, alternatively I could lease a similar car (probably not as nice for £6500 for another two years)

Edited by Casa1862 on Tuesday 31st January 13:52

[jjr1]

17.5k is a good price as that is probably getting down to the trade value.

In 5 years this car will be 7 years old and won't be worth 10k but it will have provided pretty cheap motoring and it is a petrol so won't be as undesirable as a diesel, will be in years to come.

[Casa1862]

jjr1 said:

17.5k is a good price as that is probably getting down to the trade value.

In 5 years this car will be 7 years old and won't be worth 10k but it will have provided pretty cheap motoring and it is a petrol so won't be as undesirable as a diesel, will be in years to come.

Sorry, meant if it's worth £10k at 5 years old (3 years from now), I would think it's pushing it, I agree £17.5k is better price than I expected, dealers are asking £19 to £20k.

More I think about it, if I buy it for £17.5, add another £1500 finance costs and it's worth £10k at 5 years, it's still lost £9k, think I can lease a fairly decent car for that much, plus the Lexus will need tyres, brakes, £1k worth of serving and additional warranty for the 2 years after the standard warranty expires. It's a nice car but I'll be paying as much as a new one.

I've got a Skoda Superb 2.0 dsg tech on order which is £6200 for two years with £10k miles, won't need any maintenance apart from one service. It's not a nice as the Lexus but still not bad and a size bigger. I was considering keeping it to replace our second car but too much of a luxury.

[benjijames28]

Well a 5 grand discount for you assuming you can pay what they want in cash, that's not too bad I suppose.

Your best value motoring would be to run that car for 10 to 15 years.

As much as I love a Lexus, they sink like a st in a swimming pool. Guess that's why I love them, cause when your bored of the car when it's 7 years old, I can come buy it for 8 grand, and still enjoy the comfort, luxury, and reliability of Lexus.

[Casa1862]

The new IS and particularly NX range have been holding their price very well, think a lot of IS will be coming off 2 and 3 years leases soon hence drop in price.

I thought I'd post the figures as it gives an alternative to pcp deals, i.e. You have the option to buy the car at a decent rate.

I might go back into one when the Superb lease finishes or my Astra dies, couple of years and they'll be close if not below £10k, higher mileage ones for £7 to 8k I think, it's a very underrated car.