Car totaled, what should I get next?

[FIREman]

Unfortunately my beautiful 2017 Lexus RX350 was totaled in a recent accident a couple weeks ago (thankfully no one was injured!) The insurance payout is 12k more than what I paid for the vehicle nearly two years ago! (purchased with cash, certified pre-owned)

I do love the Lexus brand, my first choice would be another certified pre-owned Lexus. However, I'm not set on getting another big cushy SUV. I have no kids, and do drive a considerable amount so gas mileage is somewhat of a factor. The RX was extremely comfortable and a huge upgrade from college/med school & residency car (Honda Civic), but after driving it for couple years I definitely don't feel like I need a big expensive SUV, and I'd be open to a sedan. If I replaced it with the same car I'd surely spend the whole amount and maybe more which my gut is telling me not the smartest decision seeing as how I'd be paying nearly 10k more for the same car I bought 2 years ago. I test drove a 2020 Honda Accord yesterday with 15k miles and it was nice. (It's going for 29k.) Also have my eye on a 2019 Lexus ES Hybrid for 37k.

Rest of the financial house is in order, we are on track to hit 1mil net worth this year.

I've got 43k to spend. What would you get? Would you spend it all or get something less expensive and bank the rest? Am I just pinching pennies here and overthinking this?

[Random1]

my gut is telling me not the smartest decision seeing as how I'd be paying nearly 10k more for the same car I bought 2 years ago

You will paying more for any car with the recent inflation, paying more for anything is the world we live in now. But what you think you will need and like. If you were happy with your previous car then buy the same thing. I have had hondas , mazda and toyotas - all have bee good cars. Mid range Honda or Toyota is probably the best value if you keep it for the long term. Personally I will avoiding cars that take premium fuel (its just annoying when filling up) and I will probably pay more attention to fuel efficiency for my next purchase.

[Larry Ragman]

Most fun car I ever owned was a Mazda Miata. For a small sedan, HondaCivic. If you need something a bit bigger, many great choices, but hard to out point a Honda Accord. Lexus are great cars, but I can never get over thinking they are more expensive Toyotas.*

*edit to add that I drive an Audi right now, and by my logic it would be fair to call that a more expensive Volkswagen!

[Larry Ragman]

my gut is telling me not the smartest decision seeing as how I'd be paying nearly 10k more for the same car I bought 2 years ago

You will paying more for any car with the recent inflation, paying more for anything is the world we live in now. But what you think you will need and like. If you were happy with your previous car then buy the same thing. I have had hondas , mazda and toyotas - all have bee good cars. Mid range Honda or Toyota is probably the best value if you keep it for the long term. Personally I will avoiding cars that take premium fuel (its just annoying when filling up) and I will probably pay more attention to fuel efficiency for my next purchase.

I never pay any attention to the premium fuel requirement. It really doesn’t make that much, if any, difference in performance.

[VentAlarm]

I parked next to a Supra yesterday. That looked pretty cool.

[Kamban]

Gas prices will stay up. And you drive quite a few gas miles. If your total driving is less than 200 miles a day, why not consider an EV.

[Craigslist]

tesla model y

[cards67]

I think you're overthinking, do whatever you want. I'd freely spend whatever insurance paid out, or maybe spend little more on a new car. No one truly needs an SUV and most people drive only themselves a majority of the time anyway. If you enjoy it, why not get another RX. Maybe in hybrid? Or NX hybrid. I'm a big fan of the Cx5.

[Max Power]

...I do love the Lexus brand, my first choice would be another certified pre-owned Lexus....

There you go.

[uptoolate]

I never pay any attention to the premium fuel requirement. It really doesn’t make that much, if any, difference in performance.

Or longevity. My son now drives my 2007 Acura CSX Type S which has never had anything but regular octane and now has 250,000 miles on it.

[TheDangerZone]

New Civic Touring is getting a lot of love for being comfortable with upmarket feel and excellent gas mileage. I would consider it if you're not tied to a luxury brand.

[TheDangerZone]

tesla model y

Costs a lot more than 43k.

[childay]

I'd vote for the ES. The wife won't let me sell ours, still going strong at 120k miles. Drove it the other day, I forgot how nice it drives. I would also check out the avalon and recent genesis sedans.

[abds]

I never pay any attention to the premium fuel requirement. It really doesn’t make that much, if any, difference in performance.

Premium makes an actual difference in many turbocharged cars. Some lower displacement and lower compression turbocharged engines may not need premium.

Naturally aspirated engines don’t need premium.

[Kamban]

Costs a lot more than 43k.

Yup. A year ago it was 49K. And then it rose gradually in $500 increments.