Questions on buying a used IS350 that was previously leased
04-30-07, 08:47 PM
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Questions on buying a used IS350 that was previously leased
What kind of terms do most leasees take on Lexus vehicles, 2 years or 3 years?
How thorough, if at all, does Lexus check on the vehicle after the leasee turns the car back in?
If I buy a used IS that was previously leased, what kind of warranty can I expect? Do they offer an extended warranty, or does it carry from where it left off?
What's the lowest APR on a new IS on average? I know that used vehicles carry a higher APR, so if the difference is drastic, I might just hold off and get a new IS.
How thorough, if at all, does Lexus check on the vehicle after the leasee turns the car back in?
If I buy a used IS that was previously leased, what kind of warranty can I expect? Do they offer an extended warranty, or does it carry from where it left off?
What's the lowest APR on a new IS on average? I know that used vehicles carry a higher APR, so if the difference is drastic, I might just hold off and get a new IS.
04-30-07, 09:21 PM
#2
Most leases are two or three years, but anyone can return it earlier or "trade" the lease (although the leasee will take a huge $$ hit). Why would they do that? Buyer's remorse usually.
Lexus is very thorough with their inspection. Most 1-2 year old vehicles will have "Certified Pre-Owned" status, which has good coverage and carryover warranty.
Warranty is pretty much the same as with a new car, but with the added miles of a used car, will be less with your ownership. You can always buy an extended warranty for security, which would be beneficial because you don't know how the previous owner treated the car.
APR on a used IS is truly dependent on your credit score, not market averages. The best thing to do is to get a quote from the dealership, and shop around at your bank or credit union or other financial institution. You can always transfer your loan from the dealer to another institution within 30 days without penalties or credit checks.
Good luck! Keep us informed if you get an IS!!!
Lexus is very thorough with their inspection. Most 1-2 year old vehicles will have "Certified Pre-Owned" status, which has good coverage and carryover warranty.
Warranty is pretty much the same as with a new car, but with the added miles of a used car, will be less with your ownership. You can always buy an extended warranty for security, which would be beneficial because you don't know how the previous owner treated the car.
APR on a used IS is truly dependent on your credit score, not market averages. The best thing to do is to get a quote from the dealership, and shop around at your bank or credit union or other financial institution. You can always transfer your loan from the dealer to another institution within 30 days without penalties or credit checks.
Good luck! Keep us informed if you get an IS!!!
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