leasing a used lexus
04-10-16, 06:51 AM
#2
I've been buying all of my cars when they have been lease returns in order to avoid the initial depreciation hit. Lease was created out of the need to sell more new cars, then turn around and guarantee a used car sale at 24 or 36 months. It is also a good way to scam the unsuspecting out of a bunch of cash, by adding even more layers that are impossible to track on paper. It has been a god send for businesses looking for deductions and those who "need" the new car smell every three years. It simplifies the decision making, because you really don't have a ton of options when your forced to make a move.
This is yet another money making scheme that will guarantee another wave of used cars to sell and another way to prey on the unsuspecting. I'm sure there will be good use cases for them, but most often it ends up being legal loan sharking.
I personally hate what this will do to the used car market when it takes off. I'm personally already not thrilled with purchasing a car I know wasn't loved, and likely ignored as a leased vehicle and now it'll have gone through two sets! If the first owner didn't kill the car ignoring the important things, the second owner who can't afford a can of beans likely will. One thing's for sure. The hunt for a clean one owner will definitely become much more of a struggle.
This is yet another money making scheme that will guarantee another wave of used cars to sell and another way to prey on the unsuspecting. I'm sure there will be good use cases for them, but most often it ends up being legal loan sharking.
I personally hate what this will do to the used car market when it takes off. I'm personally already not thrilled with purchasing a car I know wasn't loved, and likely ignored as a leased vehicle and now it'll have gone through two sets! If the first owner didn't kill the car ignoring the important things, the second owner who can't afford a can of beans likely will. One thing's for sure. The hunt for a clean one owner will definitely become much more of a struggle.
04-10-16, 11:23 AM
#3
We lease around half of the L/Certified cars that we sell. Some, such as GXs make no sense to lease, some, such as GSs make no sense to buy (or at least last month they made no sense to buy).
Here's an example that I just did for a 2013 RX:
$1,619.39 at signing, $416.89 a month. This is for a 17K mile one with navi, it's CPO'd and it has 17K miles. This includes all taxes and motor vehicle fees here in NJ. It's also 15K a year like all L/Certified leases.
Comparing it to a new RX it's a LOT cheaper, and the right unit will have CPO coverage for the term of the lease.
The way the leases work it's the very low mile RXs without Navi that lease the best by far..... Just did a 12,500 mile 13 RX without Nav for $375 a month with only the first payment at signing. LFS only adds $200 to the residual for Navi on an RX, but in the market the swing is $1,000 or more as we all know.
I'm not sure you can get a comparably equipped RAV4 for that.
Here's an example that I just did for a 2013 RX:
$1,619.39 at signing, $416.89 a month. This is for a 17K mile one with navi, it's CPO'd and it has 17K miles. This includes all taxes and motor vehicle fees here in NJ. It's also 15K a year like all L/Certified leases.
Comparing it to a new RX it's a LOT cheaper, and the right unit will have CPO coverage for the term of the lease.
The way the leases work it's the very low mile RXs without Navi that lease the best by far..... Just did a 12,500 mile 13 RX without Nav for $375 a month with only the first payment at signing. LFS only adds $200 to the residual for Navi on an RX, but in the market the swing is $1,000 or more as we all know.
I'm not sure you can get a comparably equipped RAV4 for that.
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