A user on TikTok has sparked discussion after claiming that his new Lexus RZ 450e, which the salesperson claimed was worth $70,000, is now only worth $37,000—just a few days after the TikToker purchased the vehicle.
In a video with over 959,000 views as of Saturday, TikTok user Drew (@infamousxdrew) explains how his car-buying journey went awry.
“I just found out yesterday that this car is worth $37,000, and I’m paying $900 a month,” he explains in the video.
“I got this car thinking it was a $70,000 car, and they were giving me a $20,000 price decrease, and it pushed me to get the car even more,” he adds later in the video. “The fact that I got it appraised at $37,000 doesn’t really sit with me the right way.”
In addition to the rapid depreciation, Drew says he’s had other issues with the car, specifically regarding its range.
“I’ve had to charge this car twice in the three days that I’ve had it, because this range is 200, and it is not real miles,” he details. “I have 150 miles on my car, on the odometer, and I’ve had to charge it twice.”
“I’m just sad, I’m distraught,” he states. “I don’t know what to do. I feel like I made a very expensive, big mistake.”
The limited range is a common complaint for RZ 450e drivers. In a review for Ars Technica, author Jonathan M. Gitlin describes several issues with the car, including allegedly inaccurate promises about its range.
“On 20-inch wheels, as in the case of our RZ 450e Luxury…Lexus says it should have a range of 196 miles (315 km),” Gitlin writes. “Unfortunately, even that appears to be highly optimistic; after charging our test car to 93 percent, it reported a mere 143 miles (230 km) of range.”
By the end of Drew’s video, he says he is considering returning his Lexus and opting for a Mercedes instead.
“Mercedes is offering me the electric S-Class, $108,000 car, for the same price point, $900 a month,” he shares.
@infamousxdrew Replying to @sophiianextdoor I don’t even know what to do atp 😭🤦♂️ #messedup #newcar #lexusrz450e #luxuryedition #horriblerange #electricvehicles #evs #doyourresearch #infamousxdrew #fyp @drew ♬ original sound – drew
In later videos, Drew shows that he was able to return to Lexus and get the Mercedes he wanted.
In the comments section of Drew’s original video, users offered their thoughts on his predicament.
“$900 a month should be illegal for a car payment,” said a user.
“Where are you getting 37k from? It’s a 55k+ car brand new – 7500 point of sale credit if you qualify,” wrote another. “Of course trade in appraisals will be low if that’s where you got the number from lol.”
“There’s a reason they were giving $15000 off,” declared a third.
The Daily Dot reached out to Lexus and Drew via email.
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Source: https://www.dailydot.com/news/lexus-car-depreciation-37000-dollars/