2013-2020 Lexus GS 350 Buyer’s Guide - Reliability & Common Problems

Summary

In this video, the speaker explores the pros and cons of buying a used luxury car, specifically the Lexus GS, compared to leasing or buying a new vehicle. They highlight how inflated used car prices, high interest rates on traditional financing, and the lack of incentives make buying used less appealing. Instead, they advocate for leasing a new car, which can result in lower interest costs and more equity in the vehicle. The speaker also discusses the reliability and performance of the Lexus GS, comparing it to a Porsche Panamera, and suggests that leasing a new IS 350 F Sport might be a better option financially.

Takeaways

• 😀 New cars can sometimes be cheaper than used cars due to inflated used car prices and higher financing costs.
• 😀 Used car financing often frontloads interest, meaning you build equity slower in the first few years.
• 😀 Leasing a car can be advantageous, especially with low-interest rates, as more of your payment goes towards the car's equity.
• 😀 One-pay leases can reduce the interest rate even further, making it a better option for some buyers.
• 😀 The Lexus GS is a well-maintained, reliable, and practical car that drives similarly to a Porsche Panamera.
• 😀 Despite its reliability, the inflated prices of used cars make it hard to recommend buying a used Lexus GS at current rates.
• 😀 Leasing a new Lexus IS 350 F Sport with discounts and incentives could be a better deal than buying a used car.
• 😀 If you lease a new car, you can have equity left at the end of the lease, and potentially buy it out with confidence since you're the first owner.
• 😀 With used cars, you cannot be sure of how previous owners treated the vehicle, which introduces a higher level of risk.
• 😀 If you're a skilled mechanic or have a trusted one, you may consider buying a used car like the Lexus GS, but for many, leasing or buying new might be a safer option.

Q & A

Why does the speaker recommend considering a new car over a used car?

The speaker suggests that sometimes buying a new car can be cheaper than buying a used one because used car prices are often inflated, and financing for used cars typically comes with less favorable interest rates, fewer discounts, and no incentives.

What is one reason why traditional car financing can be disadvantageous?

Traditional car financing is disadvantageous because most of the early payments go toward paying off the interest rather than building equity in the car, which is why many people end up underwater on their car loans within a few years.

How can leasing a car be more beneficial than buying a used car?

Leasing a car can be more beneficial because the payments are structured so that a larger portion goes toward building equity rather than paying off interest. A low-interest lease or one-pay lease can further reduce interest payments, making it a more financially viable option.

What is a one-pay lease, and how does it help reduce interest rates?

A one-pay lease is when the full lease amount is paid upfront instead of through monthly payments. This type of lease can reduce the interest rate even further compared to traditional leases.

Why does the speaker consider the Lexus GS to be a great car to drive?

The speaker finds the Lexus GS to be a great car due to its practicality, reliability, and driving performance. They even compare its driving experience favorably to that of a Porsche Panamera.

How does the Lexus GS compare to the Porsche Panamera in terms of driving experience?

The speaker claims that a 2015 Lexus GS drives identically to a 2015 Porsche Panamera, highlighting how well the GS performs in terms of driving experience, despite the difference in brand and price.

What is the speaker’s stance on the used car market and its pricing?

The speaker believes the used car market is currently overinflated, making it hard to recommend buying a used car like the Lexus GS at current prices. They feel the inflated prices don't align with the car’s true value.

What is the speaker's recommendation for those considering a Lexus GS?

The speaker recommends leasing a new Lexus IS 350 F Sport, as it comes with substantial incentives and discounts, and has relatively good resale value. They also suggest considering buying the car at the end of the lease if it meets personal satisfaction.

Why does the speaker suggest leasing a new IS 350 F Sport over buying a used GS?

Leasing a new IS 350 F Sport is recommended because it offers significant incentives and discounts, and ensures the car is well-maintained from the start. It also has better resale value and a clearer history compared to a used GS.

What is a key reason for buying a car at the end of a lease, according to the speaker?

The speaker suggests buying a car at the end of a lease because you will be the first owner and know exactly how the car was treated, such as using premium fuel, which ensures it is in better condition than a used car with an unknown history.