Lexus Resale Value

To get the best value for your Lexus, you should sell it within two to four years of ownership.
Written by Cameron Thiessen
Reviewed by Jessica Barrett
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To get the best resale value out of a
Lexus
, you should sell within two to four years of ownership. IntelliChoice projects that a new Lexus ES300h will retain 51% of its initial value after five years. Be sure to take note, however, that other factors such as the vehicle’s mileage and condition will affect its resale value, as well as how high of a demand there is on the used market for your particular Lexus.
Lexus is the fourth-largest luxury car brand, producing vehicles that are known for their reliability and relatively cheaper cost of ownership, not to mention smooth, peaceful rides. It’s quite possible you’ve come to love your Lexus, but after enough time has passed, it’s a good idea to sell, especially if you’re due for an upgrade. If you do plan on selling, you’re going to want to know how your Lexus’ resale value stacks up compared to the competition.
Even if you don’t drive a Lexus, any new car you purchase will depreciate in value the minute you drive it out of the dealership, but it’s definitely good to know just how much.
If you’re not exactly sure how to find these numbers, you don’t have to worry! With
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What goes into determining my Lexus’ resale value?

If you’re anything like me, you and your Lexus have probably been through quite a bit together. It’s easy to get attached to a car, but unfortunately, the amount that you love your Lexus is not going to affect its resale value. Here are a few different things that you’ll want to factor in when calculating your Lexus’ resale value:
  • Depreciation: We’ve all heard it before: your car’s value starts depreciating the minute you finish signing the contract, and it will continue diminishing for the rest of its life. In fact, some cars will depreciate in value by up to 65% after only three years!
  • Mileage: Mileage is one of the main factors that will play into your car’s resale value. The simple fact of the matter is that higher mileage means a lower resale value. Especially if you’ve got more than 100,000 miles on it, selling might be less simple. Experts suggest maintaining a limit of 12,000 to 15,000 miles per year of ownership.
  • Accident history: Sometimes accidents can’t be avoided, but even so, any accidents on your Lexus’ history will negatively affect its resale value. Even after being completely repaired, a car’s value can drop between 15% and 30% after it’s been in an accident.
  • Model popularity: Certain types of cars are more popular on the used market than others. As the popularity of sedans continues to wane, the best-selling Lexus in the U.S. is by far the
    Lexus RX
    crossover SUV. Other options that will likely maintain good resale value are the
    Lexus GX
    and the
    Lexus NX
    .
  • Interior and exterior conditions: Obviously, if your car has accumulated its share of scratches, dents, windshield cracks, or other neglected repairs, these will bring down the value of the vehicle, often by quite a bit.
MORE: How to sell a car for the best price

Resale value vs. trade-in value

When it comes to upgrading to a new vehicle, there are pros and cons to both trade-ins as well as resales, and it’s a good idea to know the difference. A trade-in is an amount that a dealership will offer you in exchange for your vehicle, but it will usually be paid toward the new car that you are purchasing from that dealership, rather than a direct payment.
Realistically, you can usually get more money for your Lexus by going the resale route, but making a private sale comes with its own complications and hassles. A dealership can tell you how to get your used Lexus up to its own resale standards, but getting your car ready to sell will be your responsibility

What is the MSRP of my Lexus?

Do you know how much your Lexus was worth when you first drove it off the lot? You’re going to want to know what your Lexus’original MSRP was, as this is a good starting point for determining resale value.
Check out this guide
from Kelley Blue Book to pinpoint your Lexus’ MSRP so you can have a good idea of where you stand.
Key Takeaway Make sure you know your Lexus’ original MSRP, mileage, accident history, model popularity, and any interior/exterior blemishes.

How does wear and tear affect my Lexus’ value?

The condition of your car is one of the most key aspects to consider when calculating resale value, but the good news is that this is a factor that you actually have lots of control over as the car’s owner. If you’ve kept up with your Lexus’ recommended maintenance, your car will undergo less wear and tear and will maintain much more of its value.
The sad truth is that for every $5,000 you need in repairs to your vehicle, your vehicle's value will be reduced by about $2,500.

How to calculate the resale value of your car

Every car’s life is going to be unique, and each Lexus model will likely have its own successes and failures, but it’s still possible to make a good estimation of your car’s resale value, despite all the variables involved. Try using this
handy tool
from Consumer Reports for calculating your car’s resale value.
For a more general idea of how your particular Lexus measures up to other models, you’ll want to start by determining the depreciated value. Car Edge picks 2020 as the top-value Lexus model year, retaining about 80% of its value.
As an example, let’s look at how a 2020 Lexus RX 350 would have depreciated in value over the past two years. At an MSRP of $56,685, with 12,000 miles per year of driving, your Lexus RX 350 will have depreciated by 22%after 2 years leaving it with a resale value of $43,993.
Comparatively, under the same conditions, a 2020 Lexus NX 300 will have depreciated by 28%, taking its original MSRP of $43,580 down to $31,304.
Bear in mind that these numbers will look quite different for different model years. It’s also important to recognize that these calculators cannot take into account your particular NX 300’s overall condition.
MORE: Trade-in vs private sale: What’s the best way to sell your car?

The bottom line: is my Lexus worth reselling?

Now that we have a handle on the MSRP, depreciation, condition, and mileage of your Lexus, it’s time to come to some conclusions. At the end of the day, if your car is still in great shape with minimal cosmetic damage, has less than a 15,000-mile annual average, was new within the last two to four years, and is a particularly popular model like an SUV or a hatchback, you can definitely get great value back from a private sale.
If your Lexus doesn’t quite meet all these criteria, you may want to look into making some last-minute repairs to increase the chance of making a good sale.

How to prep your Lexus for resale 

In any case, if you’re sold on reselling your Lexus, you’re obviously going to want to get the most that you can for it. Before trying to sell, make sure you’ve followed these steps:
  • Get your car detailed. Cleaning can go a long way to making your car look as good as new, so don’t skimp on detailing!
  • Get routine maintenance done. Make sure routine maintenance is up to date, like oil changes, tire rotation, and brakes.
  • Round up the original parts. You want to make sure that anything that came with the car when you first bought it is still together. Manuals, keys, and accessories that accompanied your Lexus when you first got it should go to the next owner.
Have your proverbial ducks in a row if you want to get the best return on your Lexus. It’s always reassuring to a new owner if they can see you’ve taken extra good care of your vehicle.
MORE: DIY car wash: a step-by-step guide

Finding cheap Lexus insurance 

A lot of people will upgrade to a vehicle made by the same manufacturer as their previous one because familiarity and consistency can really put drivers at ease. Whether you’re planning to invest in a new Lexus or try out a new brand, you’re going to want to protect your investment with solid car insurance. Reselling your car can definitely be a pain, but with
Jerry
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car insurance
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Jerry is the kindly digital insurance broker who can live in your pocket! Just download the app, enter in some info for your profile, and watch as Jerry takes 45 seconds to find you the best quotes on the best policies available to you.
As soon as you’ve got a policy picked out, Jerry handles everything to switch you over and will even help cancel your old plan. And when the time comes to renew, Jerry will give you updated quotes so you can ensure you’re always getting the best price.
If you’re looking for another little financial boost after selling your Lexus, you can join the many other Jerry customers saving an average of over $800 per year on their car insurance!
“Because I have a luxury car, I was more interested in finding better coverage than the exact price.
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FAQs

The Lexus ES300h, the IS350, the RC350 coupe, and the RX350 SUV are all expected to retain at least 48% of their original value after five years, handily beating out the national average.
Your Lexus’ value is determined by factors like depreciation, mileage, condition, and more. In the meantime, you can see what your Lexus is appraised for with this
helpful tool
from Edmunds.
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