Hi guys,

My wife has a 2015 Lexus CT200h (21,000 miles) that her parents are leasing for her and is due next year. I really like the car. I'm a Prius guy and I think the fit-and-finish of the Lexus is tops, the styling is cool, and the gas mileage is awesome. I'm considering asking her parents if we could buy out the car, as I'm quite sure the next car they lease for her (if they're so kind again) won't be as nice as the CT200h - they're typically Toyotas. However I have my strong reservations. First, this car's been through a lot in its short life such as minor body damage which we have yet to fix, broken-into window, etc. My second reservation is the fact that Lexus is discontinuing the car in the US. I don't know how I feel about purchasing a model right when they decide to discontinue it, and if that's a smart thing to do. So my questions are:

1) does body damage need to be fixed if we buy it from the lease?
2) what do you think about purchasing a discontinued model?
3) how much do you think the buyout price should be roughly (don't know my parents-in-laws terms of 3 year lease, I'm sure it's typical though)

Thanks!

 

1. Up to you I think. If you're going to buy it, then you can ride around with body damage. If not, I think you have to pay for it anyway giving it back to the dealer.
2. Doesn't matter if its discontinued, there will still be parts for these cars for years to come
3. Depends on how much they owe... you can get that from their parents or talk to someone at Lexus to get an estimate for your scenario.

 

I have a 2015 CT200h Fsport... To sorta help you maybe with question #3 - the math on leasing the car ended up being the same as just purchasing it new (which I did). I believe the buyout on your wife's CT200h also may be slightly cheaper if it isn't an Fsport...

As far as question #2, I have already looked into that because I was actually deciding if I should keep the car or sell it. There will be access to parts for this car for many years. I've been told by some "experts" that they think you'll be good for at least the next 10 years. By then, you might already sell the car off for something else Though as you know, this car is fun for running errands around town and the MPG is top notch.

 

1. I also think that if you buy the car, this won't matter, as it doesn't affect the dealer's price. If you return the lease, they have to charge you for any work they have to do to restore the car, and any lost resale value. Basically anything they lose financially is on you, plus any fees they may have in place for such occurrences.

2. While the CT is leaving the North American market, it's still in production elsewhere. Parts won't be an issue, and it shares many with other models anyway (the whole powertrain is off the 3rd gen Prius).

3. I believe the way leases work is that the buyout price is what the dealer expected the car to be worth however many years later on from purchase that the lease expires. Check used CT prices for cars as old as yours with similar mileage for reference.


Best of luck!