Hello Scotty I’m currently financing a 2017 Honda Accord coupe v6, i bought it with 46k miles on it and it had to get the motor replaced since the guy who was leasing it cracked the engine block, it now has a new engine, and Im already around 50k miles, but it’s starting to get expensive as I’m paying $780 a month for it and I could’ve used all this money I spent on paying for it these past few months, in buying a used Toyota Corolla 2003 le for 200k miles going for $3,000 or either a Lexus ES 350 with only 106k miles going for $8000. I’ve already spent around $3120 in the Honda as I bought it in October of 2021. And I don’t mind returning it to the dealer and buying the Lexus or the Toyota. I just don’t know which car will be better. I know for sure the Lexus will outlast the Honda but I’m not sure about the Toyota Corolla, and I feel since the Honda’s original engine has already been destroyed, I feel like I’m the future I might get other issues associated with that. I still have 5 years to pay this Honda off or I can work for 1 month and buy this Lexus right now or the Toyota I just don’t know which car is the better one here.
The Lexus ES 350 year is 2007
Here's my thoughts:
2017 Honda Accord V6: I would return the Honda back to the dealer. If it's too much money for you, don't keep it.
2003 Toyota Corolla LE: I would pass on it because of the mileage. I know people have tell me that they have half a million miles on theirs but in this situation, I wouldn't gamble on that.
Lexus ES350: You didn't mention the year for the Lexus but the deal is ok. Have a mechanic with a high-end scan tool look over the Lexus. If there's a hidden red flag, don't buy it.
If you like the Honda and want to keep it, you could refinance it.
I would get rid of the Honda...plain n simple, you overpaid for that thing. pass on the Corolla.
You didn't say what year the ES350 is. The 3.5L V6 in that and many other Toyota/Lexus products will eventually develop the timing cover oil leak. It's a pain in the arse to fix. Have to drop the engine out to fix it (25 hr job). Also, they have the vvti (variable valve timing) there are 2 tubes that supply oil from the block to the cams, if it's older than 2009 they came with rubber hoses in the middle (yeah, not a brilliant engineering design on Toyota's part) so they also develop oil leaks. 2009 + Toyota changed to all metal tubes on the 3.5 V6 and offered a upgrade for owners with the older ones (but that time for the program has passed).
I looked at a 2007 ES350 $9k, that had a 1 owner "clean carfax". When I looked underneath, took lot's of pictures, it clearly had accident damage, and the battery was dead so never got to test drive it (good thing). Walked away and didn't go back. So, I would definitely have a mechanic check whatever else you go look at.
The Lexus ES 350 is the 2007 year, it was sold at auction because the headlights were stolen, so the owner sold it and one of my good friends, who sells cars bought it and replaced it, he’s offering to sell it for me for $8000 and the Corolla for $3000, I could pay him $4000 for the Lexus and pay him the remaining $4000 off in 7 months. You said the es 350 might have rubber hoses but I do not know if the original owner took care of that problem, I do intended on getting the vin and seeing what work was done to the car, to see if it has been replaced with the steel braided hoses for the oil.