danmiller3

Hi folks -
We have one year left on a three year lease on our 2009 RX 350. It has 30,000 miles on it. It's got the premium package but does not have nav. We can buy the lease our for $26,500 right now and get an interest rate of 3.85% on a 5 year term.

Checking around this seems like a really good deal. Comparable models are selling for 32-35K.

Any thoughts?

--Dan

Adamjeeps

For me, I would need to consider how much I have already invested in the lease to get the true "price" I would be paying.

danmiller3

We've put 12K in already. The total cost for the car would be 38K. MSRP was 43K.

RXnick

On lease buyouts do they include a CPO warranty? Or any warranty beside the whats left on the factory one?

danmiller3

No, just the standard warranty.

Adamjeeps

That sounds like a good deal if you only have put 12 thousand in it so far. There was no down payment required?

Is this a special offer they sent you or apart of the original contact? I was thinking lexus may be enticing you to keep it since the new body style is out and they may have trouble reselling it.

kickin8

iTrader: (1)

I'd lease a 3rd gen RX.....

arima

does it make sense to lease 2 years and then finance for 5 years. you would have made payments on the car for 7 years. In 2009 Lexus was offering 2.9% for 5 years.

sc430_337

Seems like a pretty decent deal, but you can double check by going to a dealer and see what they would give you on trade in to get a better idea.

the amount of time you would have made payments for is irrelevant, especially when compared with the total out of pocket expense (otherwise everyone would take shorter terms at lower interest rates).