joesmithf1

Hi All,

Need your opinion/advise on this. I have the 2017 GS 350 F Sport, with Mark Levinson sound system. I have a 4 years lease with a $650 monthly payment, zero down, Lease will end this October 6, 2021. Buy off amount is $24,565(not including tax and other fees). I have only 26,500 miles on it. Car is in excellent condition; always garaged and my work has under ground parking, and i do all the maintenance on time. My dealer is willing to end the lease if i pay $1225. Is this a good deal? Should i take it?

OR the other option is to purchase it at end of lease and try to sell it myself.

One more thing, i have had two minor accidents on the car, but have been repaired by professionals, so you can't even tell where the accident it.

thank you!
Joe

jgscott

iTrader: (1)

Do you like the car enough to want to keep it?

Rudiculous

iTrader: (15)

Why end it now instead of waiting 7 months?

Dangit2001

So if you don’t want the car I would end the lease and purchase the car and then sell it yourself. But only if you think you can sell it at its market price. Which I think is in the 30s.

kietlander

I've never leased a car so please be patient with my ignorance, the dealer says pay $12xx now and you can either get out of the lease or buy the car out at its current value?

Or is it $12xx to walk away from the lease.

Dangit2001

Its to walk away from the lease.

peasodos

iTrader: (1)

..........

ItzFilyO

GS values must be going up then if dealer is willing to do that.

ThomasGS4

iTrader: (19)

^ This.

The dealer knows there's a profit to be had reselling the car by buying you out of your lease for the payoff, which is likely well below auction value.

E46CT

The car will also be worth less after 6 months and it will have more miles. Also from what I remember, Lexus does let you out early if you lease another car from them--maybe not 6 months, maybe 3? I forget. They benefit from retaining (locking in) a customer for another three years, as well as from having a newer car with less miles to sell at auction or put back on their lot. win/win for them. The $1225 is just to help the sting from the remaining payments.

joesmithf1

Because i don't think i want to keep the car after the lease, so if i wait for 7 months AND not put much mileage on it, then i am basically throwing money away. But i just don't know(can't decide) if i should finish the lease, buy it off, and then try to sell it myself. Or just save myself a tons of headaches by just turning it in now and pay the $1200 penalty.

ItzFilyO

Probably the demand for GS in the used car market is increasing now that they don't make it anymore.

HontoKuro

1. Terminate lease and run
2. The fact that you have 2 accidents on your report, you will never ever get fair market value even if you decide to purchase it and sell thereafter. You will lose thousands of dollars instantly with its noted accidents no matter how minor and professionally well repaired they are.
3. Do the math. 650 x 7 months = $4550 minus $1225 lease buyout = $3,325 in your pocket to play with towards a newer model or lease.
4. Personally I opt out of the lease especially at how high that lease payment is at now. You can find way better deals today.

imjohnphan

This is very succinctly well put. You expressed you no longer wish to keep the car after lease so this route makes pretty good sense. It'll also get you into a car that you want to be in sooner rather than later.

Rudiculous

iTrader: (15)

Thank you, this info helps. Do you know what the current Lexus buyout amount is?

Maybe get quotes from Carmax, Carvana, and Vroom then see how it compares?