Do you think buying a car for 37,000 is smart.?

Question

Or do you think our cars are over prised toys?

Lexus rx2007

Answer 1

All cars a bad investments because they depreciate so fast especially if purchased new. The more expensive the car the greater the losses. If a car depreciates 10% in the first year then a $15,000 car depreciates $1,500 in the first year and a $37,000 car depreciates $3,700. If you live in the US and your state taxes vehicles as property you'll pay more in tax on the $37,000 car. In addition your cost per mile will be higher because after depreciation comes the devaluation associated with use. At the end of the day if both cars would be run into the ground and sold for parts the most you cloud lose on the $15,000 car is the full value or roughly half of what you could lose on the $37,000 car. Even though the more expensive car would have a higher salvage value it won't be the $15,000 difference. I think the best strategy is to buy a 2 or 3 year old car with 30,000 to 40,000 miles on it and sell it within two years or at $79,000 miles. No matter what the original cost of the car your cost to own it during this period will be about the same. That's because the depreciation is much greater in the first two years.

Good luck and enjoy whatever you buy :)

Answer 2

The car ur talking about is the RX350 which is an upgrade from last years model. I think u r getting a good deal @ $37,000. I would rather purchase an IS but it's ur money. The reason people pay more for cars like these is the quality and options. Must I always remind people that luxury cars are the first for everything. And being the first for everything raises the research & production costs. Do u see any cobalts or G6's with parking sensors, how about heated seats, Leather as a standard, Headlights that turn when the car does, radar cruise, and on and on. I hope u get my point. The car costs that much because of those reasons, and a little thing called supply and demand. That is why many things are exspensive, as long as someone is willing to dish out that kind of money the prices will continue to rise.

Answer 3

There is a big difference in which cars you buy for $37,000. If you buy a new Lexus and take good care of it, you will find the resale value after 2 years is tremendous. Buy and trade a Lexus every 2-3 years and before long, you will actually be money ahead compared to buying a Chevy or Dodge for example.

Answer 4

If people make more money it also a reason for cheaper Taxation and for the reason of the higher class of people in the society. it mean like.

Yeah i got Lexus
what you Got Toyota??? well all you say is it all Honda.

I own a Toyota Camry V6 VVTI engine. 3.3 liter it a same engine as a ES330 Right but i paid 12,000.00 cheaper???

LX and a Tundra it the same.... the only diffrent is Logo and the Front and back light!!!

why???

Answer 5

Depends on your disposable income and how long you expect that income to continue. I personally think cars are tremendously overpriced and have never cared for Toyota, even in its Lexus persona. $37,000 is a pretty good chunk of change.

Answer 6

Luxury cars are toys, period, but they are not over-priced if you can afford them. I don't know how much is $37,000 to you, but if it is more than 50% of your salary, its probably too much. Keep in mind you will spend a lot more money on luxury cars but the benefit is only marginal.

Answer 7

Depends on the car and how bad you want it but I do believe a lot of cars made today are ridiculously over priced.

Answer 8

they're a cute motor vehicle, and much less high priced on gasoline. and in many cases they are much less high priced to purchase. however the mark downs end there. The upkeep and upkeep are phenomenally high priced! All nuts, bolts, fastenings, filter out, etc are custom MADE. So purely a broker with the perfect approaches can attempt any upkeep or upkeep. in the previous you purchase, ascertain to ascertain this out!

Answer 9

I thought in Singapore cars are way above that? average $50000 for a mid range sedan? well still, i think it's overpriced cos of the COE, road tax, petrol costs blablabla

Answer 10

i think it's a cheap deal! 37,000 for rx? my cusin spent over 40k for the basic 2004 model. and trust me it's a sweet ride. why else do we make our money for? enjoy it!