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What is the fair market value of a Lexus RX 350?

The fair market value of a Lexus RX 350 can vary depending on a number of factors, including the vehicle's age, mileage, condition, and location. However, based on current market data, the average fair market value for a Lexus RX 350 is typically between $35,000 and $45,000.

Factors Affecting Lexus RX 350 Fair Market Value

The fair market value of a Lexus RX 350 is primarily influenced by the following factors:

Age and Mileage: Newer Lexus RX 350 models with lower mileage will generally have a higher fair market value than older, high-mileage models.

Condition: The overall condition of the vehicle, including the interior, exterior, and mechanical components, will significantly impact the fair market value. Well-maintained Lexus RX 350 models will have a higher value.li>
Location: The geographic region where the Lexus RX 350 is being sold can also affect its fair market value, as demand and pricing can vary by location.

Optional Features: Lexus RX 350 models equipped with additional features, such as premium audio systems, advanced safety technologies, or luxury packages, may have a higher fair market value.

By considering these factors, you can better estimate the fair market value of a specific Lexus RX 350 model. It's important to research current market prices and compare similar vehicles in your area to determine a fair and accurate value.

Determining Fair Market Value

To determine the fair market value of a Lexus RX 350, you can use a variety of online resources, such as Kelley Blue Book, Edmunds, or NADA Guides. These websites allow you to input the specific details of the vehicle, such as the year, mileage, and condition, and provide an estimated fair market value range.

Additionally, you can consult with local car dealerships or private sellers to get a better understanding of the current market prices for Lexus RX 350 models in your area. This can help you negotiate a fair price when buying or selling the vehicle.

By understanding the key factors that influence the fair market value of a Lexus RX 350, you can make informed decisions when buying or selling this popular luxury SUV.

How much can I sell my Lexus RX 350 for?

The Lexus RX 350 has a strong resale value due to its reputation for reliability, though depreciation is highest in the first few years. For example, a 2022 model has seen a significant drop in value, while the 2024 model is considered a top choice for resale value among current models, retaining a high percentage of its original price. Actual resale value depends on the vehicle's age, condition, mileage, and specific options.

Factors affecting resale value

Depreciation: A vehicle's value decreases over time, with the steepest drop happening in the early years.
Condition: The overall condition of the vehicle (e.g., damage-free, well-maintained) significantly impacts its value.
Mileage: Lower mileage generally leads to a higher resale value.
Trim and options: Higher trim levels and specific options can affect the final price.
Market demand: The current market for used cars will influence what a dealer or private buyer is willing to pay.

Examples of resale value

2022 Lexus RX 350: The 2022 model has already experienced a depreciation of around $11,000 in the first two years, with a resale value of about $37,000 as of a recent check.
2023 Lexus RX 350: The value varies significantly by condition, with an "outstanding" trade-in value around $40,991 and a "rough" value around $38,759 for a 2023 model.
2024 Lexus RX 350: According to some analyses, the 2024 model year is the best value to buy due to its high percentage of remaining useful life and lower expected depreciation.

What year to stay away from Lexus RX 350?

Years to avoid for the Lexus RX 350 include 2007, 2008, 2010, 2016, and 2017 due to common problems like oil leaks, engine issues, brake failures, and faulty sensors. The 2010-2012 models are particularly prone to a ruptured oil cooler line that can cause engine failure, while the 2007-2009 models had issues with cracking dashboards and a faulty brake master cylinder. The 2016 and 2017 models saw recalls related to airbags and issues with rain sensors, notes CoPilot.

You can watch this video to learn about the history of the Lexus RX 350 and common problems in different generations: 1mThe Miles DrivenYouTube · Dec 22, 2024
Years to avoid and why

2007–2009: These models are known for cracking dashboards and a faulty brake master cylinder that can lead to brake failure.
2010–2012: A common and severe problem with these years is the oil cooler line, which can rupture and lead to engine failure.
2016–2017: The 2016 model year had airbag recalls and was the first year of a new generation, which can lead to early bugs. The 2017 model had issues with the rain sensor and wipers, in addition to having its own airbag recalls.

What to look for instead

2011–2015: These models generally have fewer issues, with the 2013–2015 models in particular being noted as more reliable.
2018–2022: Models from these years are considered more reliable, especially those with the redesigned exterior.
2020–2022: These are considered among the most reliable years, with the 2020 model year being a good choice.

This video discusses the best Lexus RX 350 years to buy: 59sThe Miles DrivenYouTube · Dec 18, 2024

Do Lexus RX 350 hold their value?

Yes, the Lexus RX 350 holds its value well, often retaining a higher percentage of its value than many luxury and non-luxury SUVs. It has a strong resale value due to its reputation for reliability and longevity. For example, it can retain a significant portion of its value after five years and even after a decade.
Resale value and depreciation

Strong performance: The RX 350 consistently ranks among luxury vehicles that hold their value well over time.
Depreciation: One source indicates a 5-year depreciation of about $26,554, leaving a resale value of around $23,396 for a 2024 model, which is a better result than the average for its luxury class.
Long-term retention: After 10 years, the RX 350 can retain nearly 43% of its original value, which is considered excellent for a luxury vehicle.

Why it holds its value

Reliability: Lexus has a strong reputation for building reliable and long-lasting vehicles, which directly contributes to its strong resale value.
Popularity: The RX 350 is one of the most popular luxury SUVs in the U.S., which keeps demand high.

What is the fair market value of a Lexus RX 350?

2022 Lexus RX 350 recent instant offers range from $32,400-$37,400.

Kevin Bennett

Company Owner

Kevin Bennet is the founder and owner of Kevin's Autos, a leading automotive service provider in Australia. With a deep commitment to customer satisfaction and years of industry expertise, Kevin uses his blog to answer the most common questions posed by his customers. From maintenance tips to troubleshooting advice, Kevin's articles are designed to empower drivers with the knowledge they need to keep their vehicles running smoothly and safely.