Looking for 2016 ES 300h lease return??
05-19-19, 08:19 PM
#1
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Looking for 2016 ES 300h lease return??
Hi,
I am new to the forum. I am looking for a 2016 star fire white with flaxen interior. I don't find many online for sale since they are so new.
Is it smart to buy a lease return? Is there any helpful tips when buying from a dealer who has a lease return but is not a Lexus dealer?
Thanks!
I am new to the forum. I am looking for a 2016 star fire white with flaxen interior. I don't find many online for sale since they are so new.
Is it smart to buy a lease return? Is there any helpful tips when buying from a dealer who has a lease return but is not a Lexus dealer?
Thanks!
05-20-19, 08:32 AM
#2
Lease returns are available for purchase at lease maturity by:
1) original leasee - contract has "residual" amount disclosed when new.
can be financed or cash purchase, buying now from Lexus Financial Service
who has owned it during the lease. Taxes and fees owed based on location.
2) turn-in Dealer (may or may not be selling dealer). Car is "grounded" and that
dealer has a short time to apply to purchase from LFS. If not it is processed by:
3) Lexus Financial which then lists it on a Lexus dealer-only auction site for all
Lexus dealers to consider. Quite rare that a car would fail to get purchased by
an authorized Lexus or Toyota dealer but might eventually be sold outright to
another licensed dealer (not private citizen).
Many great reasons to buy a lease return. The L/Certified program is designed to
enhance the value to make these cars easier to move out of the system quickly.
Original Lexus Warrantee was 48 month/50K mile comprehensive and 72 month/70K
Powertrain. Two Service visits, 5K and 10K included (one LOF) The L/Certified provides
Two (2) more years after the original Four (4) year period and Unlimited Mileage plus
four (4) more Service visits (two synthetic LOF). As with every brand, only Lexus can
offer Manufactures Certified features. Various private warrantee bundles get called "Certified"
but check for National coverage and limitations.
The three year old lease return particularly with medium to high miles (40 to 60K) really
takes advantage of this program. Gets new tires and likely brakes to qualify and gets the
most time and miles. Should be priced lower (among Certified cars, not All Used 2016's)
because of the miles.
You are unlikely to find this popular color choice in this recent a model away from a Lexus
dealer unless it has a troubled past, Car Fax, smoker's car etc.
1) original leasee - contract has "residual" amount disclosed when new.
can be financed or cash purchase, buying now from Lexus Financial Service
who has owned it during the lease. Taxes and fees owed based on location.
2) turn-in Dealer (may or may not be selling dealer). Car is "grounded" and that
dealer has a short time to apply to purchase from LFS. If not it is processed by:
3) Lexus Financial which then lists it on a Lexus dealer-only auction site for all
Lexus dealers to consider. Quite rare that a car would fail to get purchased by
an authorized Lexus or Toyota dealer but might eventually be sold outright to
another licensed dealer (not private citizen).
Many great reasons to buy a lease return. The L/Certified program is designed to
enhance the value to make these cars easier to move out of the system quickly.
Original Lexus Warrantee was 48 month/50K mile comprehensive and 72 month/70K
Powertrain. Two Service visits, 5K and 10K included (one LOF) The L/Certified provides
Two (2) more years after the original Four (4) year period and Unlimited Mileage plus
four (4) more Service visits (two synthetic LOF). As with every brand, only Lexus can
offer Manufactures Certified features. Various private warrantee bundles get called "Certified"
but check for National coverage and limitations.
The three year old lease return particularly with medium to high miles (40 to 60K) really
takes advantage of this program. Gets new tires and likely brakes to qualify and gets the
most time and miles. Should be priced lower (among Certified cars, not All Used 2016's)
because of the miles.
You are unlikely to find this popular color choice in this recent a model away from a Lexus
dealer unless it has a troubled past, Car Fax, smoker's car etc.
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