In need of suggestions
02-13-04, 10:38 AM
#1
Intermediate
Thread Starter
In need of suggestions
My current lease terminates in July on my GS 430. The lease is through Chase. I spoke with a representative regarding my options at lease end. I specifically inquired about extending the lease until the 06 GS comes out. He said they are unable to do that. What should I do in the meantime??? I was considering leasing the CTS V for 2 yrs then go back to Lexus( after I have a chance to test drive it). But I'd rather stay with Lexus. Any suggestions? Thanks
02-13-04, 01:20 PM
#3
Originally posted by V8_Aristo
Why not refinance the residual on your GS (since you were planning to to extent the lease anyways). Then trade it in to lease the 06 GS when it comes out.
Why not refinance the residual on your GS (since you were planning to to extent the lease anyways). Then trade it in to lease the 06 GS when it comes out.
02-13-04, 06:53 PM
#4
Moderator
Originally posted by dseag2
That would be my suggestion as well. However, it really depends on the amount of the residual you negotiated at the time the lease was written. If it's lower than the car's market value at the end of the lease, you should go for it. If it's higher, you'd be better off to walk away. You'll take two hits... 1) buying the car for more than it's worth and 2) trading it in on an '06. If that doesn't matter to you, I'd do exactly as Aristo suggested.
That would be my suggestion as well. However, it really depends on the amount of the residual you negotiated at the time the lease was written. If it's lower than the car's market value at the end of the lease, you should go for it. If it's higher, you'd be better off to walk away. You'll take two hits... 1) buying the car for more than it's worth and 2) trading it in on an '06. If that doesn't matter to you, I'd do exactly as Aristo suggested.
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