LIMS407

Ok, need some feedback from leasing gurus here.. I have nine (9) months left on my lease and noticed that I will only have about month to reach my miles.
What are my options at this point?? I have 2017 RX350 which maybe I can talk to the sales person to put me at new RX??
Have a great relationship with sales guy but Lexus usually only waive payment for last three months.
Appreciate any feedback on this..

stasek

See what places like carvana, vroom, or even the dealer you know, would offer you RIGHT now if you were to sell it to them. You might be able to at least break even. How many miles do you think you’ll be over in 6 months? If you can’t sell the car now, your best option might be to just cough it up and pay the overage at lease turn in.

coolsaber

Approach Carmax and see whats their estimate on the vehicle as is? With that info compare it to your agreed upon residual; if the number is higher, you have a fair chance of getting the dealer to play ball, if not then see what kind of leasing options the dealer has for you. The usual way for being over-miles is either pay the extra miles or try to buy out the vehicle and flip it in my book.

SW17LS

You should be able to trade out of it now.

RyanSs

Opinions on the current environment with regards to Leasing vs buying?

coolsaber

Nothing has really changed, run the numbers and see what works based on your needs. I`d say the only real concern is in buying where the zero percent APR is blinding folks over heavy incentive packages.

bitkahuna

iTrader: (20)

Good tips on being savvy when you walk into a dealership...

https://www.thestreet.com/personal-f...ar-salesman-nw

SatComm302

Used cars are in very high demand in my area (Houston). Seems like a really good time to explore options since my lease is getting close and I have equity. Any recommendations on straight return/walk away vs. buy-out/flip vs. equity/trade into new lease?

Thanks for your help!

SatComm302

Anyone? Thanks...

stasek

Get some quotes from the likes of Carvana, Vroom, Carnax, etc and see where the numbers fall. If you do have equity, then by all means sell the car to either one of them.

situman

If I want to buy out my lease from Lexus, what fees, if any, should I expect to pay?

radiologym

I recently did this. I bought it from Lexus Financial directly, not through dealership. I paid taxes and payoff amount only

situman

How you do that? The Lexus website directs me to go to a dealership to complete the purchase.

radiologym

I seen on this message board that someone did it. It's in my wife's name so first two times she called Lexus financial they told her to go to dealership. Third time she got to talk to sales and that person agreed to sell the car to her. He gave her option to email or mail paperwork. I believe she was going through end of lease options in the phone menu and got to that person. I would start conversation asking your buy out amount and tell them you would purchase today. Not sure if pandemic played a role but can be part of discussion.

situman

OIC. It sounds like it was through a dealership but over the phone instead. Thanks for the feedback. Now I know if they try to charge me fees, I know they are scamming me.