Lebe wohl?

I understand this can also mean “take care”.
How common is it to used in Germany?
 

Hallo RexV,

To say how common a particular phrase is in Germany is quite difficult, as it depends on so many factors. Region, in particular, is a big one: what is said daily in some parts of Germany is sometimes never said in other parts. 

So I'm afraid the answer is that I cannot really say. In my personal experience, I would not find it strange to hear someone say Lebe wohl, so it is not archaic; however, you should note that it is generally used when you won't see the other person for some time.

Tschüss!

Liss

Hi Lisa,

Thank you  very much for your answer.

I assume "Machts Gut" is a lot more common to use for "Take Care"?

Best,
Rex

Hallo Rex,

Bitte! :) 

Macht's gut! is a more colloquial and certainly a very common way to say "Take care!"

Tschüss!

Liss