It’s a Good Time to Buy a Lexus LC 500 Coupe If You Can Afford One
We have a lot of love for the Lexus LC 500. In fact, we even awarded the 2021 Lexus LC 500 our inaugural “Best Driving Experience of the Year” award back in December. That’s because the LC isn’t your normal exotic car. Its potent V8 engine and comfortable driving dynamics make it a joy to drive every day and we wouldn’t hesitate to take it on a long road trip. If you can currently afford it, now may be a good time to buy one.
Why is it a good time to buy a Lexus LC 500?
Considering the prices for many used cars have increased across the board over the past year, the prices for many Lexus LC 500s nationwide have stayed the same. According to Fourwheel Trader, some of the prices for the older models (2018 and 2019) have increased by 12% in the past year. But prices for the newer models have remained steady or decreased due to depreciation.
As such, you can currently find Lexus LC 500 models selling for around $70,000 to $80,000, according to a nationwide search on Autotrader. Sure, that’s still a lot to spend on a car, but it’s far less than the $93,050 MSRP that the car originally started out with. Let’s not forget that many LC 500s only started at the price, which easily increased when the original owners added more options to them. In essence, you could buy a car that used to cost over $100,000 for around $80,000 right now. And for that price, you’re getting quite the bargain.
What’s so great about the Lexus LC 500?
The Lexus LC 500 carries one of the last naturally aspirated V8 engines that we’ll probably see in the market. Its 5.0-liter V8 pumps out 471 hp and 398 lb-ft of torque and has a sky-high redline of 7,100 rpm. If you have ever heard this V8 rev through the RPM band, you know what a treat it is.
Power aside, the LC 500 is more of a 2+2 touring car than an all-out exotic race car. That means that it’s more comfortable and somewhat more practical than rivals from Porsche, Ferrari, and Audi. It also carries a Lexus badge, which may not have the same panache as German competitors, but it’s synonymous with reliability and value retention.
The LC 500 is also very comfortable to drive and it’s easy to get in and out of, which again is hard to find in an exotic car at this price level. And when it comes time to sell it, there’s a good chance that this car isn’t going to be priced any lower than $60,000 any time soon, so you’ll get most of your money back.
How can someone afford an LC 500?
If you’re looking to spend a serious amount of cash on a Lexus LC 500, then the best way to buy one is to pay for it in cash. Don’t have enough Benjamins? In that case, you can always apply for an exotic car loan as long as your credit is in good standing and you have a hefty down payment. Just be prepared to have high monthly payments, but for a car like the Lexus LC 500, it’s totally worth it.