Hey everyone!
I'm looking for some honest opinions from fellow Lexus enthusiasts because I've been going back and forth on a potential purchase and would appreciate some outside perspectives.
I currently own a 2023 Tesla Model 3 Performance, which I purchased new in December 2023 and paid for in full. It's been a great car, although it has relatively high mileage for its age (73k miles) because I previously drove extensively for work. Since relocating from Texas to the DMV area, my annual mileage has decreased significantly.
The Tesla has no mechanical issues, just a few cosmetic imperfections I'd like to address. Realistically, I could keep it for another 3-5 years.
However, I recently secured an allocation for a 2027 Lexus IS 350 F Sport AWD in Envious Green, part of the limited production run of just 350 vehicles for North America.
I absolutely love the color, the updated styling (yes, I've seen the Camry comparisons 😂), and the exclusivity of the vehicle. I've always appreciated Lexus for its quality, reliability, and longevity, and I could see myself keeping this car for 10+ years.
Here's the breakdown:
2027 Lexus IS 350 F Sport AWD (Envious Green): $62,744, including destination ($1,395) and dealer fees ($949).
Dealer markup: $0.
Current Tesla trade/sale offer: $26,000; however, it keeps going up in value lately.
Virginia sales tax: Approximately $2,604 (unfortunately, Virginia doesn't deduct trade-in value).
Total additional cash required: Approximately $39,350, plus registration and other applicable fees.
Financing: None. I would purchase the Lexus outright.
Employer Vehicle Benefits: $500 monthly car allowance + company-paid fuel for business travel (95% of my driving), routine maintenance, and tires every 2yrs. I cover fuel for personal driving.
Here's where I'm struggling.
I'm fortunate to be in a relatively comfortable financial position. I have a good career, strong household income, substantial cash savings, and no loan on my current vehicle. I can afford the Lexus without financing it or compromising my ability to meet our financial obligations. For context, I'm 33M, married, with no kids or debt, and we have no plans to start a family or purchase a home within the next five years or so.
However, I'm also fairly conservative financially and have been working toward building my investment portfolio and continuing to grow our household savings.
Realistically, I don't need another car. My Tesla is only a few years old; it's paid off, and it does everything I need it to do.
What attracts me to the Lexus is the overall ownership experience, the luxury, the reliability reputation, and especially the Envious Green limited edition.
I'll also admit something: If Lexus offered Envious Green as a regular production color, I probably wouldn't be considering replacing my Tesla right now. The exclusivity is a significant part of the appeal. That said, I understand limited production doesn't guarantee appreciation or exceptional resale value. I'm not purchasing it as an investment.
I also love performance cars, and my ultimate dream car would probably be a BMW M5 someday. But those are significantly more expensive, and I'm not particularly interested in spending $100,000+ on a vehicle anytime soon.
So here's my question:
If you were in my position, would you spend approximately $40,000 in additional cash to purchase this particular Lexus, knowing you could comfortably keep your current paid-off vehicle?
Or would you keep the Tesla, fix the cosmetic issues, and continue saving and investing?
I'd especially appreciate hearing from current IS 350 owners about the driving experience, interior quality, and long-term ownership satisfaction.
I know my Tesla is considerably quicker in a straight line, so this isn't about outright performance. It's about the overall driving experience, craftsmanship, and enjoyment of owning something a little more special.
I genuinely love the Lexus, but I'm trying to distinguish between buying something I'll appreciate for the next decade and getting caught up in the excitement of a rare new car.
Would appreciate everyone's honest thoughts, even if the answer is to keep the Tesla!
Thanks!