Why So Many Lexus LS Models Have Multiple Owners (But That’s Not Always Bad)

The Lexus LS, the flagship sedan of Toyota's luxury division, is renowned for its comfort, reliability, and sophisticated features. However, you might notice a trend when browsing the used car market: many Lexus LS models have had multiple owners. This can be a red flag for some buyers, but it's not always a cause for concern. Let's delve into the reasons behind this phenomenon and what it means for you as a potential buyer.

Understanding the Lexus LS Ownership Landscape

Several factors contribute to the higher-than-average number of owners for used Lexus LS models:

• Leasing: Luxury vehicles like the Lexus LS are frequently leased. After a lease term of typically 2-3 years, the vehicle returns to the dealership and is often sold as a used car, adding a new owner to its history.
• Luxury Car Market Dynamics: Owners of luxury cars often trade up to newer models more frequently than owners of more affordable vehicles. This cycle of upgrading contributes to a higher turnover rate.
• Reliability and Longevity: The Lexus LS is known for its exceptional reliability. This means that even with multiple owners, the car can still be in excellent condition and offer many years of reliable service.
• Affordability on the Used Market: As Lexus LS models age, their prices depreciate, making them more accessible to a wider range of buyers. This increased affordability can lead to more frequent ownership changes.

Why Multiple Owners Aren't Always a Deal-Breaker

While a single-owner vehicle might seem ideal, a car with multiple owners isn't necessarily a bad choice. Here's why:

• Maintenance Records: The key is to examine the vehicle's maintenance records. A well-maintained car with multiple owners is often a better choice than a poorly maintained car with only one owner.
• Consistent Service: Look for evidence of regular servicing, including oil changes, tire rotations, and other routine maintenance.
• Pre-Purchase Inspection: Always get a pre-purchase inspection from a trusted mechanic. This inspection can reveal any hidden problems that might not be apparent from a visual inspection or the vehicle history report.

According to data from KBB, luxury sedans typically depreciate faster than other vehicle types, leading to more frequent ownership changes.

Red Flags to Watch Out For

Despite the potential benefits of buying a Lexus LS with multiple owners, there are still some red flags to be aware of:

• Gaps in Service History: Significant gaps in the service history can indicate neglect or a lack of proper maintenance.
• Accident History: A history of accidents, especially those involving structural damage, can negatively impact the vehicle's safety and value.
• Title Issues: Be wary of vehicles with salvage titles, flood damage, or other title issues.
• High Mileage: While the Lexus LS is known for its longevity, high mileage can still lead to increased maintenance costs. Consider the mileage in relation to the car's age and overall condition.

Car Buying Tips for Used Lexus LS Models

Here are some essential tips to keep in mind when shopping for a used Lexus LS:

1. Research the Market: Understand the fair market value of the specific Lexus LS model you're interested in. Use resources like Kelley Blue Book (KBB) and NADAguides to get an accurate valuation.
2. Obtain a Vehicle History Report: A vehicle history report from a reputable provider like Carfax or AutoCheck can reveal important information about the car's past, including accident history, title issues, and odometer readings.
3. Inspect the Car Thoroughly: Pay close attention to the car's exterior, interior, and mechanical components. Look for signs of wear and tear, damage, or neglect.
4. Test Drive the Car: A test drive is crucial to assess the car's performance and identify any potential problems. Pay attention to the engine, transmission, brakes, and suspension.
5. Negotiate the Price: Don't be afraid to negotiate the price. Use the information you've gathered to make a fair offer.

Buying a used car always carries some risk. Hidden problems can lead to costly repairs down the road. A vehicle history report can help you uncover potential issues before you buy.

The Importance of a Vehicle History Report

A vehicle history report is an invaluable tool when buying a used car. It provides a comprehensive overview of the car's past, including:

• Accident History: Details of any reported accidents, including the severity of the damage.
• Title Issues: Information about any title issues, such as salvage titles, flood damage, or odometer discrepancies.
• Ownership History: A record of all previous owners, including the dates of ownership.
• Service History: A record of reported maintenance and repairs.
• Odometer Readings: A history of odometer readings to detect potential odometer fraud.

According to NHTSA, odometer fraud costs American consumers over $1 billion each year.

Electric Vehicle (EV) Considerations for the Future

While the Lexus LS is traditionally a gasoline-powered vehicle, the automotive industry is rapidly shifting towards electric vehicles (EVs). As you consider your next car purchase, it's worth exploring the benefits of EVs:

• Lower Running Costs: EVs typically have lower running costs than gasoline-powered cars due to cheaper electricity and reduced maintenance requirements.
• Environmental Benefits: EVs produce zero tailpipe emissions, contributing to cleaner air and a reduced carbon footprint.
• Government Incentives: Many governments offer incentives, such as tax credits and rebates, to encourage the adoption of EVs.
• Performance: EVs offer instant torque and smooth acceleration, providing a fun and engaging driving experience.

While Lexus currently offers hybrid models, the company is investing heavily in the development of fully electric vehicles. Keep an eye out for future Lexus EV models that combine the brand's renowned luxury with the benefits of electric power.

Financing and Insurance Considerations

Before purchasing a used Lexus LS, it's essential to consider your financing and insurance options:

• Shop Around for Auto Loans: Compare interest rates and terms from different lenders to find the best deal.
• Consider a Pre-Approved Loan: Getting pre-approved for an auto loan can give you more bargaining power at the dealership.
• Factor in Insurance Costs: Insurance rates for luxury vehicles like the Lexus LS can be higher than for more affordable cars. Get quotes from multiple insurance companies to find the best rate.

Conclusion

The fact that many Lexus LS models have multiple owners shouldn't automatically deter you from considering one. By understanding the reasons behind this trend, carefully examining the vehicle's history, and conducting a thorough inspection, you can find a well-maintained Lexus LS that offers exceptional value and reliability. Remember to prioritize maintenance records, accident history, and overall condition when making your decision. And don't forget to explore the exciting possibilities of electric vehicles as the automotive industry continues to evolve.

FAQ: Common Questions About Lexus LS Ownership

Why do Lexus LS models often have multiple owners?

Lexus LS models often have multiple owners due to leasing cycles, the luxury car market's tendency for frequent upgrades, and the car's inherent reliability, which makes it desirable on the used market.

Is it risky to buy a used Lexus LS with several previous owners?

Not necessarily. The key is to thoroughly inspect the car's maintenance records and obtain a vehicle history report to ensure it has been well-maintained and doesn't have a history of accidents or title issues.

What should I look for in a vehicle history report for a used Lexus LS?

Focus on accident history, title issues (salvage, flood damage), odometer readings (to detect fraud), and a consistent record of maintenance and repairs.

How can I ensure I'm getting a good deal on a used Lexus LS?

Research the fair market value using resources like KBB and NADAguides, obtain a vehicle history report, get a pre-purchase inspection from a trusted mechanic, and be prepared to negotiate the price.

Are Lexus LS models reliable even with multiple owners?

Yes, Lexus LS models are known for their reliability. A well-maintained LS, even with multiple owners, can provide many years of dependable service. Prioritize a thorough inspection and review of maintenance records.