By: Peter Anderson
Lexus is a brand admired by many around the world for its beauty, classiness and luxurious style. That is why so many people dream to own one of the world’s top-rated entry to mid-level luxury cars. So, if you also have a taste for the Lexus experience, should you be looking for a new Lexus or a used Lexus? There are many reasons why you should choose a used Lexus rather than a new Lexus.
When looking at used cars for sale, you will always find a larger selection of options within your price range than you would in the case of new vehicles. Also, because the depreciation of the previous years’ new cars has already set in, you can acquire a top-of-the-line Lexus of whichever model you like at a much more affordable price. You should also bear in mind that a new car loses almost 30% of its value in the first year alone. That is enough money to make you think twice about buying a new Lexus, or any car. However, one specific fact about Lexus is that their vehicles retain a higher residual value from the original cost over the years than other luxury cars on the market.
One of the reasons that the residual value remains very high has very much to do with the safety aspect of Lexus cars. The experienced driver knows, the most crucial element of any vehicle is how safe that car is. As a car brand owned by Toyota, Lexus is both luxurious and designed with high-quality engineering, and has an established reputation for longevity and safety. One of Lexus’ unique safety features is its pre-collision system, designed to detect incoming objects and prevent accidents by alerting you or ultimately applying the brakes to avoid an accident from happening.
One of the benefits of buying a used Lexus is that you are getting both value and luxury that stands the test of time much better than other brands will. The Kelley Blue Book estimates that a 2015 Lexus will retain 42.2% of its value when it hits five years old. Taking into consideration that most cars lose about 30% of their value in the first year, that statistic means that your 2015 Lexus loses per year about 7% of its value, which is very low in comparison to other cars on the market today, both old and new.
2015 Most Popular Used Lexus Models
2015 Lexus ES 300h
2015 Lexus ES 350
2015 Lexus LS 460
2015 Lexus GX 460
2015 Lexus RX 350
Realistically, there are always going to be both pros and cons to buying a used Lexus. In terms of pros, one stands out. The purchase value of any Lexus will be closer to the value after you buy it as the vehicle will not depreciate as much as most others the moment you drive it home.
There are two main cons to buying a used Lexus as well. The first is the lack of warranty from the maker. Of course, you can always buy a warranty from the auto seller, but that will increase the overall price by a few thousand. The second con is that the Lexus itself, because of age, will not be as up-to-date as a new model released this year would be and may lack some new technology or even a new facelift that has been introduced to the model.