Upgrading to an older model? Am I crazy!? - Brickhill12

Hi guys, looking for some help please!

I've been offered this car privately for £6500

IS 250 SE-L Auto

Date first registered - 16th December 2005

Petrol

2499 cc

2 Axle rigid body

Compact Saloon

It's only driven 12,500 miles and has a full dealership service history. It's a private sale and has been driven carefully. The inside has leather white seats.

I'm wondering whether buying a 2005 model is still a reasonable investment. I'm aware that Lexus are reliable cars and really I'm after an upgrade on my 2008 ford fiesta.

Is it madness to buy a car that is 3 years older than my current car? It is higher spec but I'm worried I would be making a mistake.

Any feedback would be very much appreciated.

Upgrading to an older model? Am I crazy!? - sandy56

Its an old car. Check HJ to see his reviews and problems. It is a LEXUS and they do make good cars. Yoy are buying an 11 year old car- you pays your money and take a chance?

There is no old car that is an investment uness it is an immaculate Aston Martin, Ferrari etc..

Personally I think it is too expensive.

Upgrading to an older model? Am I crazy!? - RT

Just remember that servicing/repair costs are broadly in proportion to the original list price of a car - and don't diminish as it ages and it's value reduces.

The car's only averaged about 1,000 miles/year so it's highly likely to have suffered far more from short journeys than a leggy high mileage car would.

I wouldn't buy it!

Upgrading to an older model? Am I crazy!? - oldroverboy.

bear in mind that repairs and parts will be more expensive, read this

www.honestjohn.co.uk/carbycar/lexus/is-2005/

Upgrading to an older model? Am I crazy!? - Engineer Andy

Whilst Lexuses (Lexi?) are generally thought of as the most reliable make of car worldwide, buying an 'older' car is always a bit of a gamble, as you don't know everything about its life before you buy it.

Yes, its had a FSH from (presumably) a main dealer (note that stamps on a logbook can be easily forged - a genuinely honest owner will show you receipts and invoices, plus you can find out from the dealership in question (with permission), but its only done a very low mileage - around 1000 miles a year, which suggests an retired owner who used it to either drive to the shops or the occasional trip to see a relative, etc.

Difficult to know which (the second situation being the better one - longer journey less often gives the car time to warm up) would be how it was used. Please bear in mind that the car was originally a premium car, which comes with premium running costs (though less than the German equivalents, which are like-for-like les reliable):

  • 2.5 ltr petrol likely to get (combined) only about 30mpg, about 20% less if you doing lots of urban driving;
  • Servicing will be 50-100% dearer (even fault-free) than your Fiesta's;
  • Parts will also be more expensive - wear-and-tear items such as brakes, suspension (especially if they live in an area with lots of speed humps), etc will need to be budgeted for;
  • Insurance and VED will be significantly higher, possibly twice as much as before;
  • Budget for at least one (expensive - near to/more than £1k to fix) major component failing within 3 years.

I should note that the asking price is very high, even accounting for the low mileage (condition is more important than mileage for cars over 5yo) - see HJ's price guide:

www.honestjohn.co.uk/used-prices/Lexus/IS/2005/?q=...5

All too often people buy older, upmarket cars that they really can't afford to keep, as any major component failure could make the car an effective financial write-off. Always factor in the running costs before making a choice.

Always get either a breakdown service agent or car-savvy (mechanic etc) friend etc to give the car the once-over, get a full test drive (including giving it a bit of a thrash/check for blue smoke under hard acceleration/check out all the toys/electrics) and do your homework on the car in general.

This website (and some others) are very good sources of useful information - don't just rely on forum responses. Check the 'car-by-car' section of the reviews area (especially the 'good & bad' section) - you'll find the mk2 IS there.

Upgrading to an older model? Am I crazy!? - Falkirk Bairn

My son owned a 2004 Lexus IS Sport (top spec) for 10+ yrs - no major repairs other than water pump - common Toyota issue. He sold it for some £1200 last year.

He latterly had issues with bits perishing and needing replaced bushes etc - bits could be pricey & as he has no mechanical skills the labour costs soon add up.

We spotted it on Autotrader for sale @ nearly £3000 the following week which we felt was way too expensive but it sold in under 3 weeks.

£6500 is a lot for a "museum piece" - start using it & it will be come a low mileage "old car" and worth very little - like my son's car whichwas immaculate for the year.

Upgrading to an older model? Am I crazy!? - Brickhill12

Thank you for all of your responses. I've read through them carefully and they have really helped. I'd rather not take any risks and go for a newer higher mpg car that's more suitable for my day to day running budget.

Thanks again.

Upgrading to an older model? Am I crazy!? - gordonbennet

I haven't a clue about the price, but i'd have bought it like a shot if we could agree a sensible deal.

Lexus' of that type, lets be honest they are upmarket Toyotas with a different badge, are some of the best cars made, they run for years virtually trouble free, got the right engine too.

I have no doubt if looked after it will give the next owner many years of trouble free comfortable effortless motoring, only when they get scabby or get so old that they become seriously outdated (for those who worry about such things) and fall into dodgy hands do they sell as cheaply as the usual european fodder, with good reason it must be said.

Museum piece at 11 years old, i've heard it all now..:-)), this car is from the tail end of the best days of car design before they got too clever by half, it also looks handsome which is more than can be said for much of what Lexus or Toyota are making for the British market presently.

Edited by gordonbennet on 06/08/2016 at 17:17

Upgrading to an older model? Am I crazy!? - oldroverboy.

A pleasure!

and thanks for coming back and telling us.

Upgrading to an older model? Am I crazy!? - Metropolis.

Have an I250 in the family. Absolutely lovely cars. Lexus are not expensive to maintain, and very rarely go wrong. I'd say go for it. The v6 is smooth as butter, 30mpg is plenty, will do more on the motorway. Lexus dealer service is second to none. Take it to the dealers for a check engine light and they'll normally valet it free of charge! It'll be as reliable as any run of the mill newer car. You wont regret it. This isnt some unreliable german luxury car like a ticking time bomb Merc or BMW, this is a Toyota with even better build quality (they only build lexus in Japan).. Go for it! Treat yourself!

Upgrading to an older model? Am I crazy!? - madf

Overpriced by £3k.

Upgrading to an older model? Am I crazy!? - Brickhill12

Thanks - I'll get in touch and find out if the price can be dropped substantially or I won't bother!

Upgrading to an older model? Am I crazy!? - Engineer Andy

If, as you say, they aren't expensive to main, how much do they cost on average (not the lowest), to service over the 5 - 6 year cycle of services? My point was that they would cost far more to service and run (petrol, insurance) than the OP's Fiesta by some margin - yes, they might be fine in that no major parts would fail over the next few years, but they may not.

With a car you haven't owned before, you can never be 100% sure that it is great condition, not can anyone guarantee it will be fault-free for another X years, hence why I suggested the OP budget for at least one major failure in the next 3 years.

I've just spent nigh on £600 having my 10+yo Mazda3's clutch changed (only £30 cheaper at the local indpendent) and have twice spent about £400 getting suspension bushes/arms etc changed over the past 3 years (I'm sure this was partly due to the amount of driving over speed humps) - surely having similar (at least) done on a Lexus would be more expensive? Has this sort of replacement been carried out, or is yet to come?

Owning/running a Lexus is, I am certain, far cheaper than for a BMW, Mercedes or Audi, but the OP should be comparing running costs to their Fiesta if that's what can afford to run - I assume so, otherwise why look at an old car priced at less than half the cost of a new Fiesta? People who buy upmarket cars should expect (compared to a more 'standard' model like the Fiesta of my car) to pay upmarket costs in running it.

30mpg (combined) or 35mpg (mostly out-of-town driving) isn't that great when a Fiesta can probably do mid 40s minimum and probably nearer to 50mpg average.

Given a greater salary, I would've considered buying a new IS back in 2006 when I bought my Mazda3 from new, as the IS is very reliable, but only if I had enough money per month to run it. All too often (including some recent other threads on this website), people get sucked into buying older 'premium'/luxury cars for the same price as a newer more basic one, but which they don't have the finances to run.

My point is that this always has to be considered, and we cannot assume the best by saying it 'won't go wrong' - for the same reason why so many people end up losing their homes because they spent all their money buying it and not having enough left over/put aside for upkeep.

Upgrading to an older model? Am I crazy!? - Avant

If you really like the Lexus - and I agree they have an excellent reputation which seems well-deserved - try to find one with average mileage (say 8,000 to 12,000 a year) and you should get one quite a lot newer than that for the same money.

The excessive asking price for this one is the vendor hoping that a buyer will fall for the very low mileage, thinking that this is a big selling point. As others have said above, it isn't.

Upgrading to an older model? Am I crazy!? - FoxyJukebox

Come at it another way. Pretend you are selling it-fill in it's details to the We Buy Any Car website--and see what they notionally offer you. Bound to be a rock bottom figure.

Use the WBAC figure when negotiating a more realistic price than what's currently being asked?