Does the Lexus ES 350 have good resale value?
Yes, the Lexus ES 350 is known for having excellent resale value. As a luxury sedan from a premium brand, the ES 350 typically retains a high percentage of its original value over time compared to many other vehicles in its class.
Factors Contributing to the Lexus ES 350's Resale Value
There are several key factors that contribute to the strong resale value of the Lexus ES 350:
- Brand Reputation: Lexus is Toyota's luxury division and is known for building high-quality, reliable vehicles. This brand reputation helps maintain the ES 350's value over time.
- Reliability and Durability: The Lexus ES 350 is renowned for its exceptional reliability and long-term durability, which are important factors that influence resale value.
- Depreciation Rates: Luxury vehicles typically experience higher depreciation rates than mainstream models, but the ES 350 tends to hold its value better than many of its competitors in the midsize luxury sedan segment.
- Demand and Supply: The Lexus ES 350 is a popular model with consistent demand, which helps maintain its resale value. Additionally, Lexus produces a limited number of ES 350 units, which contributes to the model's scarcity and desirability in the used car market.
These factors, combined with the ES 350's reputation for quality, reliability, and customer satisfaction, make it a highly sought-after used car, resulting in strong resale values for owners.
Comparing the Lexus ES 350's Resale Value to Competitors
When compared to other midsize luxury sedans, the Lexus ES 350 typically outperforms many of its competitors in terms of resale value. For example, according to industry data, the ES 350 has historically retained a higher percentage of its original value after 3 and 5 years of ownership compared to models like the BMW 5 Series, Mercedes-Benz E-Class, and Audi A6.
This strong resale value can be a significant advantage for Lexus ES 350 owners, as it helps minimize the financial impact of depreciation when it comes time to sell or trade in the vehicle.
Do Lexus hold their resale value?
Honda and Lexus were again named the mass-market and premium vehicle brands most likely to retain more of their value three years after vehicle purchase, according to J.D. Power.
Do Lexus IS 350 hold their value?
Like virtually the entire Lexus lineup, the IS 350 holds its value well, and makes for a great investment (from a car standpoint). With exceptional quality and value, you can be confident purchasing one new or used, and enjoy it for years. The chart below shows the expected depreciation for the next 10 years.
Is 350 Lexus trade in value?
A 2022 Lexus IS IS 350 F SPORT Sedan 4D has depreciated $9,585 or 21% in the last 3 years and has a current resale value of $35,620 and trade-in value of $32,221.
Is Lexus ES 350 expensive to insure?
The average minimum for the upgraded ES 350 model, which has more features than the standard version, generally costs around $1,068 per month, while the annual full coverage premium for this model is around $2,580. At Freeway Insurance, we offer affordable car insurance that fits your needs and budget.
Does Lexus or Toyota have better resale value?
Toyota was the big winner, as for the third year in a row it was named Best Resale Value: Brand, and its sibling Lexus wins Best Resale Value: Luxury Brand.
Does Lexus ES 350 hold value?
The Lexus ES 350 will hold 61% of it's value after 5 years.
What is the average life of a Lexus ES 350?
between 220,000 and 250,000 miles
On average, a Lexus ES 350 can last between 220,000 and 250,000 miles. But how does this compare to its competitors? To assess the reliability of the ES 350, it is important to analyze its performance compared to its competitors. Let's take a look at below.
Is Lexus 350 expensive to maintain?
$1,931. Cost of maintenance/repair in the first five years. This is less than the industry average for luxury Sedan models by $5,828.
What has better resale value Acura or Lexus?
When it comes to resale value, few competitors are able to contend with Lexus. Kelley Blue Book, the experts on resale value, has named Lexus the Best Luxury Brand in their 2023 resale value rankings7. The report goes on to name the Lexus LS as a specific standout.
What is the common problem in Lexus ES 350?
Some of the most common ones include oil leaks, unintended acceleration, infotainment system problems, and a melting dashboard.
