dsvetcov

I also bought out my lease on 2019 RX. Went to bank to finance residual value. No additional charges, bank handled everything. You can then pay it off after 1-3 payments.

Do NOT go to dealer. As stated above, dealer does not own vehicle. You can go to any dealer or NO dealer at all.

jglipman

I believe you can buy your car directly from Lexus Financial without the fees. If you live in Florida, like I do, you are out of luck. You have to buy it thru a dealer and you will pay a processing fee and an inspection fee. I tried going around the dealer without any luck.

Marqevans

I wonder if you can drive to another dealer out of state, with more reasonable fees, and process the transaction. This might create sales tax complications however.

lgb0250

Maybe I’m missing the point but if Lexus gives you the payoff like their website says they will, why go to the dealer at all? There are many many ways to finance a vehicle if needed, without going to a dealer!

RetireeZ

jglipman - May I ask - what city were you doing your transaction? I am having my problems in Wesley Chapel. It is a shame that in Florida we are compelled to perform this buy out transaction through a Lexus dealer rather than sending a check to LFS. And your not having any luck in getting around these fees is discouraging.

ohhawk

Purchased our 2020 RX off of a 2 year lease (27,000 mile) that was expiring. Was a pretty simple process in my case. It was all handled through my local dealer outside of one phone call to LFS. The only extra fee was a "documentation fee" for $180. I had sales tax and title fee but that was normal for a purchase. This is the second Lexus I've purchased off of a lease. Will probably never see another period of used vehicle prices like we've had. My buyout was $35,000. Vehicle has 20,500 miles on it (Covid cut down on some trips). From what I've seen this vehicle would easily list for over $50,000 on a dealer lot around here. Didn't bother getting a quote from the dealer but they expressed interest of course.

DLeopoldi

I leased an rx right before COVID it’s a 2019, I got a very good deal and a high mileage lease because I used to drive to the office.

the dealer is about an hour away and most of the basic stuff I have just done locally.

the lease is due up in December and the buyout on it is only $25k. The car has 25k miles on it.

I want to keep the car as I really like it and with 4.2% at 72 months it will be a mid $400 a month payment.

Someone mentioned to me that for $2k I could get the dealer to certify the car and it will give me 2 added years on the 4 year limited warranty. The power train will be unlimited. I will also get 4 services on the car which I hear the 30k miles one is a little more pricier.

the only other thing to consider is my wife’s company is talking about giving company cars in which case I would sell. Is the warranty transferable and it makes the car of more value?


what are you opinions on this? I normally don’t ever take my car to the dealer. It’s an hour away and not a fan of high cost.

pentaprism

I'd buy the vehicle for $25K and forget about the $2k for the certification and extra 2 yr warranty.

But that's just me, who does most of the maintenance and tends to keep vehicles for a long time.

>> I will also get 4 services on the car which I hear the 30k miles one is a little more pricier.

IMHO, 4 services, even the so-called "30K mile service" are not worth half of the $2K.

DLeopoldi

it’s a Lexus it’s Toyota is what I am thinking as well. Basic maintenance should be ok.

ia the warranties on the cpo transferrrable?

DLeopoldi

Bump to the top

Badhobz

nope. warranties arent transferable if you do private sale. if you get it from the dealer, i believe there could be an option to purchase extended warranty depending on if the car is capable of being CPO.

Looking at how crappy the 5th gen RX is shaping out to be, im certain buying it out is a good idea.

coolbrazz

I would purchase, and at anytime you find out you don't need it sell. Since you like your current RX the new ones won't have a v6 in them if that matters to you.
Probably wouldn't CPO it since you don't go to the dealer.

ialb19

July 2023 is when my lease ends . I’m still debating should should I do , keep the vehicle and buy it out or return and get a new Lexus . I want to act smarter and don’t want to loose money .
Lexus is 350 f sport 2020, 31K miles .
interest rate is very high now as my dealer said and will be very expensive to lease a new car even if I use the equity from my 2020 Lexus toward new lease .
many suggestions ..?

ravenuer

I would check your buyout figure against the market price of your car. I suspect the buyout figure would be much cheaper than market. If so and you like your car, I'd buy it out.

coolbrazz

I'm close to the same dilemma, my lease expires February 2024 on a non-F sport RX 350 which currently has 20k miles . My residual is $25k, and kbb claims the trade-in value is $43k-$45k in my zip code.
I suggest to find out this info first, and you might be better off buying out your lease and sell to put down on something new or just keep it. The dealer won't give you the current value if you turn it in. Also if you decide to keep your F-Sport I would purchase an extended warranty to cover after the manufacture warranty ends.