seanyyz

I have a lease coming due in January. Does anyone know what the wait time is currently for an ES 350 (2023)?

UltraLux22

**EDIT*** I just noticed you are in Canada. I have very little knowledge of that market but I would say most of what I've mentioned should still apply with the exception of the third party buyout options such as Carmax and so on. You have one option that I have suggested in another thread that is similar to Carvana but I would have to search for the name. I would still try inquire as to your payoff versus what the third party buyout would net you just to have that information. ****

Based on info. from my contact at Lexus there is no special ordering until further notice. Basically once allocation is known to the dealership, regardless of Model Year, if you have specified certain changes early enough with the dealer, they might be able to request a change in color or particular features but there is no timeline as of yet for 2023 models. "Normal" timelines for new MY vehicles won't happen this year as of my last communication with Lexus. Based on your question, you may not have yet spoken to your dealer or if you have, it's likely they have reiterated what I just mentioned. It's still a wait and see situation unless there have been updates of which I am not aware.

I suggest talking to your dealer and letting them know your intentions and timelines. Be prepared to wait and/or for a lot of uncertainty from the dealers. Lexus is still currently behind in their existing orders for dealers so it's uncertain when 2023 models will roll out. Keep in mind that since the 2022 MY brought multiple improvements to the ES lineup, I wouldn't expect anything major in store for the 2023 MY. Last year’s updates not only tweaked the exterior styling and added more performance hardware to the F Sport models, they finally gave the ES an infotainment system that’s been lacking with the added touchscreen. So if you can find a 2022 model you may be better off. Also selling your existing lease could net you some profit by selling to a third party. Do NOT simply turn in your lease or use as a trade-n before checking out third party buyout options with Carmax, Carvana, or Vroom to name a few. Also, keep in mind rates are going to be TERRIBLE relative to what you likely had in terms of Money Factor from 3 years ago. So do some research well before time comes to make a decision. You WILL NOT receive rates anywhere close to what you may have received when you first started this lease. Just food for thought.

seanyyz

Thanks for your reply. The current thinking is a family member will buy out the lease and we will enter into a new lease. The money factor in the lease is way up though. On existing cars on the lot they are offering much more expensive leases given similar sales values. We realize that the lease buy out by a family member will be the equivalent of a big cash gift to that person but that’s fine.

UltraLux22

For example, an offer on a 2019 ES 350 loaded Luxury/Ultra Luxury with approximately 30k miles with Carvana is in the range of $39,000-$40,000 depending on the day. Carmax can be even higher. I realize those aren't options for you as you have different third party companies but I would get a fast online quote just to see where you stand. It's likely your payoff is well under that. Just a thought.

As I mentioned in my previous post, the high MF rates will not be coming down anytime soon. So yes, leasing is not as favorable as it has been. Good luck!

LexFinally

A lot of useful advice here. I'll differ on just one point: It's been reliably reported, including elsewhere in this forum, that the infotainment system that was heavily updated for 2022 apparently will be updated again for 2023, This update is expected to bring the ES into line with other new Lexus models like the NX, with all-new modernized software, a faster processor, and elimination of the CD player and the touchpad. If that sounds appealing to you -- and many reviews of the new system on the NX have been positive -- then you would want to wait for the 2023.

asadani

I've been holding off for the 2023 model here in the UAE as well. The dealer in dubai has urged me to look at the RX350 2023 as its a new design. I still would like to get the 2023 es over the 2022 es 350. I like the v6 engine's which essentially is getting harder to find in manufacturers these days.

LexFinally

I completely agree about the V6. It's one of the reasons I jumped for the 2022 before the next generation of ES eliminates it for a turbo 4 hybrid or whatever.

UltraLux22

I completely agree with your assessment however these updates will primarily be focused in the European market. Per multiple reliable sources such as Edmunds.com unfortunately it's quite likely the North American market will miss out. That would be fantastic if the NA market would see those changes and I hope that it does as I would be trading up myself. But I've double checked many sources from June and July reports and the majority indicate it's the European and other markets that will see those major changes.
One thing is for sure, time will reveal the truth!
If and when they do eliminate the DVD player, I don't know what I will do not being able to watch my movie's while sitting in Park!

Reports for the North American Market-
https://www.edmunds.com/lexus/es-350/2023/
https://www.kbb.com/lexus/es/2023/

What's new on the 2023 Lexus ES 350?

"I’m replacing an old Lexus with a Lexus ES 350 this year, but I’m not sure if I should buy a 2022 or wait for the 2023—what’s new for 2023?"

Unless a vehicle is completely redesigned, model years don’t tend to change much. With the Lexus ES 350, not much has changed since the 2022 model. It still includes:

• New infotainment touch screen
• Minor style updates to interior and exterior
• New front grille
• Improved driver assistance system
• Dynamic Handling Package (on ES 350 F Sport model)

Reports for the European market-
https://www.motor1.com/news/596138/2...update-europe/
https://newsroom.lexus.eu/enhancemen...del-year-2023/
https://www.autoevolution.com/news/l...er-192495.html
Set to enter production in August, with the first units expected to arrive at UK dealers in October, the 2023 ES has a revised center console, with two cup holders, and USB-A, and USB-C ports. They have also moved the wireless charging pad to the outside of the console box, and have introduced a new interior color option, the Ammonite Sand.

Dave Mac

I bought out my last Lexus lease for sale to a family member a year ago because the residual was exceptionally low and it all went well but I was informed that only the lessee could buy out the lease so I had to buy it and have it titled and licensed to me for one day and eventually insured as well before selling it. Other problem was it took 30 days to get the title from Lexus Financial Services - maybe because the dealer asked that the title be "expedited". It wasn't a problem because it was to a family member but third party buyer would have rightfully been pretty nervous after about a week without a title. Over a year later and the car is still worth $10K more than paid.

Dave Mac

UltraLux22

Who told you that? I can attest, along with several others, that I’ve sold 4 leases, 2 of which were Lexus vehicles. All to third parties.

Dave Mac

Lexus dealer - I was buying the car not the lease. Made sense to me.

UltraLux22

If they told you that only you could purchase the car, that was flat wrong. Anyone that pays off the balance of the payoff as provided by LFS, can buy the car. It isn’t about paying off a set number of remaining months and then assuming a lease. So if you were wanting to say sell it to carvana you totally could have done that. Carvana wouldn't be paying off the lease, they would be paying off the balance of the vehicle.

UltraLux22

To be clear, I sold 4 vehicles to third parties that were leased vehicles. Whether financed or leased, it all comes down to how much is owed to the bank. Now there are some brands that do not allow third party buyouts but that is stipulated up front in the contract. Lexus and Honda, the 4 vehicles I have sold to both Carvana and Carmax were the easiest vehicle transactions I've encountered. Cut and dry plain and simple. Once the paperwork is signed and they handed my that check, everything else is on them. That is one of the perks of selling to a third party. Buying yourself does add a bit more to the process but the payoff could mean more money in your pocket. But for Lexus to tell you that you couldn't purchase your own vehicle due to it being a lease sounds like your were mislead unless I'm missing something.

asadani

I believe the 2023 model will have the v6 iteration as well as its a minor upgrade. I'd be mad if they come out with a v4 and I held off for this long.

UltraLux22

I could say with almost certainty that Toyota/Lexus would not change the powertrain until the redesign. That would require too many alterations for a near end-of-cycle refresh. IMO