Lexus
The Lexus RX 350 was first introduced in the mid 2000s, when it replaced the RX300 as one of the very first crossover SUVs of all time. Over the past two and a half decades, the RX has gone through five different generations. The latest, fifth-gen RX 350 from 2022 is one of the best‑selling luxury vehicles in the U.S. However, that does not make it immune to the burden of depreciation.
So, how much value does a Lexus RX 350 lose per year? According to iSeeCars, a new Lexus RX 350 is set to lose 23.2% after the initial three years, or 38.9% after five. Compared to other competitors within its segment, the RX 350 is considerably better, since the average five-year depreciation number for a midsize luxury SUV is 54.9%. This also makes it one of a few Lexus models with great resale value.
CarEdge estimates that the Lexus RX 350 loses about 19% of its value after three years and roughly 33% after five years. Compared to something like a Maserati Levante, which loses 63.4% of its value in five years, buying a Lexus RX 350 can save you up to 30% in depreciation over the same period.
Why the Lexus RX 350 beats depreciation
Lexus
The Lexus RX 350 has been around for a long time, and during that time, it earned a loyal customer base. Throughout five of its generations, Lexus has continuously updated the RX. By constantly rolling out better engines, more technology, and better tolerances, the RX has become quite a reliable vehicle. By this point, customers are well aware that the RX is one of the most reliable SUVs within the midsize luxury SUV category, and that pushes up demand.
Better reliability means fewer problems and a longer lifespan, both of which are incredibly important to most car buyers. When paired with popularity and brand appeal, the demand for an RX 350 is consistent and helps keep resale values high. Although the RX 350 is a true luxury vehicle, its total projected cost of ownership is lower than most of its competitors. According to Edmunds, the RX 350's total projected cost of ownership over five years is $57,709.
At the same time, Edmunds placed the BMW X5 at $86,467. Safety-wise, the RX was awarded with the IIHS 2024's Top Safety Pick within the midsize luxury segment, which makes the RX more appealing to safety-conscious buyers. All in all, the RX 350 isn't one of Lexus's cheapest SUVs, but in terms of value retention, it's up there with the best.
Maximize Lexus RX 350 resale values
Lexus
Although these depreciation percentages are impressive, at the end of the day, they are just projections. Numerous factors can sway the value of any vehicle, and there are no resale guarantees in this market. However, if you do your best to keep up with maintenance, preserve the car's condition, opt for popular options, maintain complete records, and choose "safe" colors, your RX is likely to retain as much value as possible.
For instance, according to research by iSeeCars, a car's color can impact a car's resale value by about $5,000 after just three years, while missing service history can lower it by 15 to 40%. The timing you choose to sell also plays a huge role, since summer and spring months are known to experience higher demand for SUVs and family vehicles. Taken together, these factors alone can save you a lot of money when selling your RX 350.
Besides these, there are many other ways to increase your car's resale value, such as investing in new tires, keeping the car clean, taking good photos for the listing, and more. The great thing about the Lexus RX 350 is that just buying one puts you ahead. After all, few other vehicles start out with as much retained value as the RX 350.
