Lexus Financial Services, Multiple Security Deposits (MSD), and lease end
08-28-15, 06:16 PM
#1
Lexus Financial Services, Multiple Security Deposits (MSD), and lease end
Recently returned my '13 Lexus GS after a 36-months lease and wanted to share my experiences. I had them inspect my car 55 days prior to lease end. You can do the inspection within 60 days of lease end. Good to do early especially if your tires are pretty worn. Mine were 2-3/32nd so I didn't want to wait too long. Lexus allows you to have multiple small dents or scratches the size of a quarter. They don't charge you for it. So all of you who are leasing a new Lexus and paying something in the tune of $750 to cover lease end costs, you're wasting your money.
Lexus says you can return your Lexus to any dealer. However, the first dealer I went to (Tustin Lexus) said I know Lexus says that but huh maybe you can return your Lexus to the dealer down the street from us we don't have room at our dealer. So your experience may varied. All I know is I'm definitely not going to those lazy bastards for any future Lexus.
When I leased this car I put in a total of $6,300 in MSD. They wrote me a check for about $5,900 (MSD minus $350 disposition fee and taxes) about a month after lease end.
Finally, check your final statements carefully especially if you have it automatically taken from your checking account. Lexus Financial tried to charge me an extra payment after I turned in my lease. When you lease a car, the dealer collects the first payment the day you pick up the car. If you have a 36 months lease you owe them another 35 payments. Well they collected an extra payment from me even after I told them to stop auto payment after my last payment. Actually they tried to do it twice but they reversed one of the payment but not the other. Definitely left a sour taste in my mouth especially for someone like Lexus to not catch this. This is downright fraud in my book. Anyways I already voiced my dissatisfaction to Lexus I just think they could have done a lot better.
Anyways it's been fun can't believe it's 3 years already. This is a great forum and the GS is a great car you guys enjoy!
Lexus says you can return your Lexus to any dealer. However, the first dealer I went to (Tustin Lexus) said I know Lexus says that but huh maybe you can return your Lexus to the dealer down the street from us we don't have room at our dealer. So your experience may varied. All I know is I'm definitely not going to those lazy bastards for any future Lexus.
When I leased this car I put in a total of $6,300 in MSD. They wrote me a check for about $5,900 (MSD minus $350 disposition fee and taxes) about a month after lease end.
Finally, check your final statements carefully especially if you have it automatically taken from your checking account. Lexus Financial tried to charge me an extra payment after I turned in my lease. When you lease a car, the dealer collects the first payment the day you pick up the car. If you have a 36 months lease you owe them another 35 payments. Well they collected an extra payment from me even after I told them to stop auto payment after my last payment. Actually they tried to do it twice but they reversed one of the payment but not the other. Definitely left a sour taste in my mouth especially for someone like Lexus to not catch this. This is downright fraud in my book. Anyways I already voiced my dissatisfaction to Lexus I just think they could have done a lot better.
Anyways it's been fun can't believe it's 3 years already. This is a great forum and the GS is a great car you guys enjoy!
08-28-15, 08:52 PM
#2
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Recently returned my '13 Lexus GS after a 36-months lease and wanted to share my experiences. I had them inspect my car 55 days prior to lease end. You can do the inspection within 60 days of lease end. Good to do early especially if your tires are pretty worn. Mine were 2-3/32nd so I didn't want to wait too long. Lexus allows you to have multiple small dents or scratches the size of a quarter. They don't charge you for it. So all of you who are leasing a new Lexus and paying something in the tune of $750 to cover lease end costs, you're wasting your money.
Lexus says you can return your Lexus to any dealer. However, the first dealer I went to (Tustin Lexus) said I know Lexus says that but huh maybe you can return your Lexus to the dealer down the street from us we don't have room at our dealer. So your experience may varied. All I know is I'm definitely not going to those lazy bastards for any future Lexus.
When I leased this car I put in a total of $6,300 in MSD. They wrote me a check for about $5,900 (MSD minus $350 disposition fee and taxes) about a month after lease end.
Finally, check your final statements carefully especially if you have it automatically taken from your checking account. Lexus Financial tried to charge me an extra payment after I turned in my lease. When you lease a car, the dealer collects the first payment the day you pick up the car. If you have a 36 months lease you owe them another 35 payments. Well they collected an extra payment from me even after I told them to stop auto payment after my last payment. Actually they tried to do it twice but they reversed one of the payment but not the other. Definitely left a sour taste in my mouth especially for someone like Lexus to not catch this. This is downright fraud in my book. Anyways I already voiced my dissatisfaction to Lexus I just think they could have done a lot better.
Anyways it's been fun can't believe it's 3 years already. This is a great forum and the GS is a great car you guys enjoy!
Lexus says you can return your Lexus to any dealer. However, the first dealer I went to (Tustin Lexus) said I know Lexus says that but huh maybe you can return your Lexus to the dealer down the street from us we don't have room at our dealer. So your experience may varied. All I know is I'm definitely not going to those lazy bastards for any future Lexus.
When I leased this car I put in a total of $6,300 in MSD. They wrote me a check for about $5,900 (MSD minus $350 disposition fee and taxes) about a month after lease end.
Finally, check your final statements carefully especially if you have it automatically taken from your checking account. Lexus Financial tried to charge me an extra payment after I turned in my lease. When you lease a car, the dealer collects the first payment the day you pick up the car. If you have a 36 months lease you owe them another 35 payments. Well they collected an extra payment from me even after I told them to stop auto payment after my last payment. Actually they tried to do it twice but they reversed one of the payment but not the other. Definitely left a sour taste in my mouth especially for someone like Lexus to not catch this. This is downright fraud in my book. Anyways I already voiced my dissatisfaction to Lexus I just think they could have done a lot better.
Anyways it's been fun can't believe it's 3 years already. This is a great forum and the GS is a great car you guys enjoy!
08-28-15, 10:05 PM
#3
Thanks for the write up. I take it that they didn't ding you for the minimal tire tread? I read over in the bimmer forums that the dealer dings you if you return the vehicle with less than xx tread left. When I asked the Lexus CA about Lexus' policy, he told me that they expect the vehicle to be returned in a similar condition it was at the beginning of the lease, whatever that means.
Also that CA is incorrect. You do not bring the car back in similar condition at the beginning. For example you can have exterior scratches up to the size of a credit card. Here are more details on that:
https://www.lexusfinancial.com/pub/s...et_10_2013.pdf
08-28-15, 11:52 PM
#6
On another note, my car's residual was $33,535. I just saw my car listed at another dealer for $36,980 just in case anyone is interested. This car is in perfect condition and I certainly pampered it. It looks like they replaced all the tires. I already miss the car looking at it.
http://www.crownlexus.com/VehicleDet...-CA/2594111583
08-28-15, 11:59 PM
#7
Oh my god just another beast entirely. The power is brutal. There are three shock settings, the softest is about the same as the GS350 in Sport. The exhaust can be quiet or super loud. The dual clutch transmission is lighting quick. Even the transmission has three setting so it can shift extremely smooth or brutal fast. I absolutely love it! I would have loved to get an RC or RCF but the design doesn't do it for me. Maybe I'll do a comparison with the GS350 in a month or so when I have at least 3k miles.
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08-29-15, 12:16 AM
#8
Oh my god just another beast entirely. The power is brutal. There are three shock settings, the softest is about the same as the GS350 in Sport. The exhaust can be quiet or super loud. The dual clutch transmission is lighting quick. Even the transmission has three setting so it can shift extremely smooth or brutal fast. I absolutely love it! I would have loved to get an RC or RCF but the design doesn't do it for me. Maybe I'll do a comparison with the GS350 in a month or so when I have at least 3k miles.
Lately, I have been eyeing the new Mustang/Shelby GT350. I know, I could have a lot of fun with those cars, and make them extremely fast. But I feel like I would just be reliving my
youth..lol. My first car war was a Mustang GT.
Next time you see me honk or come by my shop, so I could see the car
08-29-15, 11:25 AM
#9
I have been wanting to test drive one. Just don't know if it's for me? I'm not a fan of the RCF either, maybe the GSF? Somebody just needs to come up with a tune for those cars.
Lately, I have been eyeing the new Mustang/Shelby GT350. I know, I could have a lot of fun with those cars, and make them extremely fast. But I feel like I would just be reliving my
youth..lol. My first car war was a Mustang GT.
Next time you see me honk or come by my shop, so I could see the car
Lately, I have been eyeing the new Mustang/Shelby GT350. I know, I could have a lot of fun with those cars, and make them extremely fast. But I feel like I would just be reliving my
youth..lol. My first car war was a Mustang GT.
Next time you see me honk or come by my shop, so I could see the car
08-29-15, 01:04 PM
#10
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Join Date: Apr 2001
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Recently returned my '13 Lexus GS after a 36-months lease and wanted to share my experiences. I had them inspect my car 55 days prior to lease end. You can do the inspection within 60 days of lease end. Good to do early especially if your tires are pretty worn. Mine were 2-3/32nd so I didn't want to wait too long. Lexus allows you to have multiple small dents or scratches the size of a quarter. They don't charge you for it. So all of you who are leasing a new Lexus and paying something in the tune of $750 to cover lease end costs, you're wasting your money.
Lexus says you can return your Lexus to any dealer. However, the first dealer I went to (Tustin Lexus) said I know Lexus says that but huh maybe you can return your Lexus to the dealer down the street from us we don't have room at our dealer. So your experience may varied. All I know is I'm definitely not going to those lazy bastards for any future Lexus.
When I leased this car I put in a total of $6,300 in MSD. They wrote me a check for about $5,900 (MSD minus $350 disposition fee and taxes) about a month after lease end.
Finally, check your final statements carefully especially if you have it automatically taken from your checking account. Lexus Financial tried to charge me an extra payment after I turned in my lease. When you lease a car, the dealer collects the first payment the day you pick up the car. If you have a 36 months lease you owe them another 35 payments. Well they collected an extra payment from me even after I told them to stop auto payment after my last payment. Actually they tried to do it twice but they reversed one of the payment but not the other. Definitely left a sour taste in my mouth especially for someone like Lexus to not catch this. This is downright fraud in my book. Anyways I already voiced my dissatisfaction to Lexus I just think they could have done a lot better.
Anyways it's been fun can't believe it's 3 years already. This is a great forum and the GS is a great car you guys enjoy!
Lexus says you can return your Lexus to any dealer. However, the first dealer I went to (Tustin Lexus) said I know Lexus says that but huh maybe you can return your Lexus to the dealer down the street from us we don't have room at our dealer. So your experience may varied. All I know is I'm definitely not going to those lazy bastards for any future Lexus.
When I leased this car I put in a total of $6,300 in MSD. They wrote me a check for about $5,900 (MSD minus $350 disposition fee and taxes) about a month after lease end.
Finally, check your final statements carefully especially if you have it automatically taken from your checking account. Lexus Financial tried to charge me an extra payment after I turned in my lease. When you lease a car, the dealer collects the first payment the day you pick up the car. If you have a 36 months lease you owe them another 35 payments. Well they collected an extra payment from me even after I told them to stop auto payment after my last payment. Actually they tried to do it twice but they reversed one of the payment but not the other. Definitely left a sour taste in my mouth especially for someone like Lexus to not catch this. This is downright fraud in my book. Anyways I already voiced my dissatisfaction to Lexus I just think they could have done a lot better.
Anyways it's been fun can't believe it's 3 years already. This is a great forum and the GS is a great car you guys enjoy!
08-29-15, 06:25 PM
#12
I love the new Mustang GT350. No need to relive anything, just live haha. I thought I saw your car at the Shell gas station a couple weeks ago. But the driver had a long beard, so unless you grew one I couldn't recognize you lol. Yeah I'll definitely swing by, I forgot which shop you're at?
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