Is Lexus Resale better than Genesis?
When it comes to purchasing a luxury vehicle, one of the key factors to consider is its resale value. Lexus and Genesis are two prominent brands in the luxury car market, each offering unique features and benefits. But how do they compare when it comes to retaining their value over time? Let’s dive into the details to help you make an informed decision.
Understanding Resale Value
Resale value refers to the amount of money a car is worth when you decide to sell it after a certain period of ownership. A higher resale value means you’ll lose less money on depreciation, which is a critical consideration for many car buyers. Factors influencing resale value include brand reputation, reliability, demand, and maintenance costs.
Lexus: A Proven Leader in Resale Value
Lexus, Toyota’s luxury division, has long been recognized for its exceptional reliability and strong resale value. Here’s why Lexus often outperforms competitors in this area:
- Reliability: Lexus vehicles are known for their durability and low maintenance costs, which make them highly desirable in the used car market.
- Brand Reputation: Lexus has built a reputation for quality and luxury, which helps maintain demand for its vehicles over time.
- Wide Market Appeal: Lexus models cater to a broad audience, from sedans like the ES to SUVs like the RX, ensuring consistent demand across various segments.
According to industry reports, Lexus consistently ranks among the top brands for resale value, with models like the Lexus RX and Lexus GX retaining a significant percentage of their original value even after several years.
Genesis: A Rising Contender
Genesis, Hyundai’s luxury brand, has made impressive strides in the luxury market since its debut. While Genesis vehicles offer excellent value for money and cutting-edge features, their resale value doesn’t yet match Lexus. Here’s why:
- Brand Recognition: Genesis is still building its reputation as a luxury brand, which can impact demand in the used car market.
- Depreciation: Genesis vehicles tend to depreciate faster than Lexus models, partly due to the brand’s relative newness and lower perceived prestige.
- Market Presence: With fewer models and a smaller market share compared to Lexus, Genesis vehicles may not attract as many buyers in the resale market.
That said, Genesis vehicles are gaining traction, and their combination of luxury, technology, and competitive pricing makes them an attractive option for many buyers. Over time, as the brand establishes itself further, its resale value may improve.
Which Brand Should You Choose?
If resale value is a top priority, Lexus is the clear winner. Its proven track record of reliability, strong brand reputation, and consistent demand make it a safer bet for retaining value over time. However, if you’re looking for a luxury vehicle with cutting-edge features at a more affordable price point, Genesis is worth considering, especially if you plan to keep the car for an extended period.
Ultimately, the choice between Lexus and Genesis will depend on your personal preferences, budget, and how long you plan to keep the vehicle. Both brands offer excellent options, but Lexus currently holds the edge when it comes to resale value.
Frequently Asked Questions
Are Genesis as reliable as Lexus?
Lexus, with its longstanding reputation, is known for excellent longevity and reliability. Genesis, however, has quickly proven itself as a worthy competitor with a similarly high standard for quality and a commitment to customer satisfaction.
Does Genesis have resale value?
HOLDS ITS RESALE VALUE
Unlike other car's resale values, which usually depreciate by more than 80% of their value, the Genesis GV70 proves to be a better choice; not only not only having one of the best 5-year resale values among other Genesis vehicles, but ranking highly among all other luxury SUVs as well.
Where does Lexus rank in reliability?
Toyota lost the top spot in Consumer Reports' list of the most reliable car brands in 2024. Subaru knocked off the usual leader, with Toyota's Lexus luxury brand taking second and Toyota's mainstream offerings in third.
Is Lexus resale value better than Genesis?
Kelley Blue Book takes the time each year to name its top picks in the Kelley Blue Book Best Resale Value Awards. In 2023, two individual Lexus models took home top honors in their respective categories1. On the other hand, Genesis earned just a single mention in the Kelley Blue Book Best Resale Value Awards.
Does Lexus hold its 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.
Which luxury car has the best resale value?
Which luxury car brand holds its value best? Lexus stands out as the luxury car resale king among luxury car brands for its remarkable resale values. Models like the Lexus GX and LX are known for their high quality and robust engineering, with the LX 570 retaining 68% of its value over five years.
How many miles will a Genesis last?
200,000 to 300,000 miles
How Long Do Genesis Vehicles Typically Last? With proper care, Genesis vehicles can easily last 200,000 to 300,000 miles, translating to 15-20 years of reliable use for the average driver.
Do Genesis cars depreciate quickly?
A 2023 Genesis GV70 has depreciated $9,577 or 21% in the last 2 years and has a current resale value of $34,698 and trade-in value of $31,332. The 2023 Genesis GV70 is in the top 10-25% for depreciation among all 2023 SUVs.
Which car brand has most resale value?
So, before you embark on your car-buying journey, consider these top contenders for the best resale value cars in India:
- Maruti Suzuki Dzire.
- Toyota Innova Crysta:
- Hyundai Creta.
- Maruti Suzuki Swift.
- Honda City.
- Mahindra Scorpio.
- Tata Nexon.
- Maruti Suzuki Wagon R.
What are the cons of owning a Genesis?
Cons of the Genesis G80
- Limited Brand Recognition. While the Genesis brand has been gaining traction, it still lacks the long-established prestige of some of its European counterparts.
- Not as Sporty as Some Competitors.
- Resale Value.
- Fuel Efficiency.
