Kadence

I have lease on an 06 SC430 coming due - 3-year lease+6 month extension. Purchase price is about $32,500.

Does anyone know what the range of financing rates one should expect is from Lexus dealerships for an end of lease purchase like this?

bagwell

no clue, but I would get pre-approved somewhere else just so you can haggle with them.

Joeb427

iTrader: (1)

Regular used car rate unless they're running a certified low interest rate special.
Certifying the car will cost $2K+.
Better off getting a big discounted Lexus Platimum 7/100 warranty from Troy Dietrich of Toyota of Greenfield.

LexFather

I would also wait if possible until the December to Remember rates, always very aggresive.

<VENOM>

Lexus is firm with the price on the lease returns, your interest rate will be at least 8% and your monthly buyout will run 60 months, you can probably go buy a handful of cars and pay less then what Lexus is about to offer you, ur monthly payment will go up, unless you have the cash to buy it or the mileage is low and your looking at a trade

Kadence

Thanks for the tips guys.
I'm not sure if you understand my question. I'm not looking to buy a certified pre-owned vehicle, I've already been leasing the car, and am looking at the end of lease buyout option.
8% - really? Wow.

The estimated APR on the Lexus monthly payment estimator is 5.4% for excellent credit, 6.7% for great credit. It makes sense that the end of lease APR would be higher than for a new vehicle, but that much higher is very surprising to me.

Joeb427

iTrader: (1)

I meant that you won't get a good interest rate unless Lexus is running a low interest rate program like say 1.9% on certified Lexus vehicles.
To get that rate you would have to have the dealer certify your car at a cost of $2K+.
Then you would get the low certified interest rate if they have a program in place when you do the buyout.

hughh

Lexus is firm with the price on the lease returns, your interest rate will be at least 8% and your monthly buyout will run 60 months>>>

My Credit Union is Pentagon Credit Union and they are still offering the same rate for new and used cars:

3.99% APR
12 to 60 months