coolbrazz

If your lease was less than 4yrs you would have manufacture warranty left anyway. I agree with the other folks here and don't let them CPO it. They're going to CPO it if you turn it in anyway, and pass that cost to the buyer.
You can always shop around, and purchase one of those extended warranties if that will make you sleep better.
2cents...

1Louder

I think this is not just "trying to take your money". CPO is just a way to buy an extended warranty. You pay for it - so it's not a huge "deal" they are making, but you are getting something for your money. So you just need to decide if that's of interest to you. There are other ways to get extended warranty. But if it's something you value see what the cost is. CPO will usually give you +2 years after factory. Also, ask if that covers some scheduled maintenance too. I bought a gently used 2016 CPO with 20k miles and I have warranty coverage though 2022 and I also got free scheduled maintenance through just this month, so I got the 25k - 40k services covered.

CPOs get bashed a lot for being wasteful but I don't think they are. They are just not "huge bargains" by any stretch. You are basically paying for extended warranty and possibly some maintenance. Just all depends if that is of value to you.

richard203

iTrader: (1)

what if im planning to buy the extended warranty out of state already, thats mean I dont need the cpo warranty right? can i just call LFS and talk to them instead or I have to go dealership to setup the paper work?

Bigjer2

If you just call LFS , they will answer ALL of your questions. Many replies have suggested this.....they are the experts.

yok3dIS

I actually bought mine out. The reason for the inspection is for safety (I asked). They actually checked the entire car - sent a vid of the under carriage and let me know how everything was and there were no issues.

ohhawk

Anyone have experience with the "lease pull-ahead" programs? Been receiving emails from the local dealer who is offering. I have a 2020 RX with a 27 month lease / 12,000 miles per year. I have approx. 1 year remaining on my current lease. They want to move me into a 2021 similar model for another 27 months and will increase the mileage allowance to 15,000 per year. I currently have approx. 11,000 miles on my current model. The proposed monthly lease payment on the '21 model would increase by $36.

What add'l charges would I likely incur in this transaction? No complaints on the current model but if expenses are minimal thought I could pick up an add'l 3,000 miles per year allowance for a small add'l monthly fee. Was trying to time my current lease expiration with the arrival of the newly redesigned RX but sounds like that still is off into the '23 model or later by what I read.

Thanks in advance on any input.

Marqevans

As I am on my 9th RX I have done this many times. I always roll the sales tax into the lease and pay the license transfer fees I’ve only done it after 1 year once. I always look at the residual (buyout) on the new lease and compare it the old lease. I actually extended my lease this time as my daughter wants to buy it but is not ready. The good thing is the residual is decreasing almost dollar for dollar wiith each extended payment.

radiologym

Hello,

I have extended my 2017 RX350 lease by 6 months with extension ending soon. It has MSRP of 53k. I put extra 14k miles on it (56k total) so overage charges probably will be significant. Purchase amount is 26.9 k and I am thinking I should purchase it as car has been trouble free and is in like new condition. Even with sales tax and fees it is probably underpriced for the market?

DyaDya

Obviously only you can decide. But if you are looking for safety in numbers I just happened to buy my 2017 lease a month ago. Love the car, low mileage, perfect condition = no brainer for me anyway. Also sounds like you may have upwards of 5k mileage fees. That would almost mean you can't not do it if money/value is a consideration and you like the car. And of course its a big plus for you to know your mechanical history and weather or not you have been doing donuts in the parking lot .

1Louder

I just did a quick cars.com search for 2017 RX450h's. There are 109 of them in the whole country on that site, and the lowest price is 29k and only two of them are under 30k. There are examples with your mileage that are low to mid 30's, and they go up to 40k. So I'd say to buy it at 27k is a great deal. If you like the car, you'd be hard pressed to find a similar example for less.

radiologym

We have requested lexus financial to send me paperwork to purchase it through the mail/online and got the forms. My wife thinks there will be no penalty if purchase will go through after maturity date, is there a grace period of sorts?

1Louder

You know, I've never done that so I'm not sure. Since buy out is an option, seems like lexus financial should have all the info though....

DyaDya

Like i said i just purchased mine last month and they emailed me the forms so i got them instantly and as long as they get the check before its due you are good. They will also mail the forms if you want, by why do that when you can just get them immediately. I don't know fi there is a grace period since i got my check there a few weeks ahead of time but just call them and they will tell you the requirements etc. I'll bet they try to make you "happy" one way or another. I got a survey on each and every call. I'm sure they like 5 stars always.

OLAAL

Hi, joining again, as I have been off for years. Have a 1997 ES & a 2017 350RX in the garage. Third 350 lease with a hybrid in the middle. Now need to decide what to do.

Current RX lease was extended twice and ending shortly. Only thanks to Covid is that I am 12K under miles, so in theory purchasing at the residual is a decent value. My vehicle has the great parking sensors, blind spot monitoring, and radar cruse, almost drives itself except it gets unhappy if your hands are not on the wheel frequently enough. Oh, and the Lexus Navigation and verbal command system has not gotten any better since the first time I saw the system (my 2006 predated those capabilities) is in my vehicle. That is probably the worst thing about just buying it out, no Apple Car Play.

My calcs tell me that a purchase or lease capitalization would be about $20K higher than my buy out, and if I bought it out I need to add $4500 to the purchase over three years (36K mile checkup, new tires, both which would be avoided if I bought new, and a service contract if I was to put both choices on equal footing from a repair standpoint). So the difference is really about $15,000. That almost looks promising, owning a NEW 2021 for about $15K more than a 4 year old 2017. Am I thinking straight?

dibl

Perhaps. I don't look at the question quite that way. Here's another approach -- How much do you want to pay to have a reliable set of wheels for the next 5 years? Yes, your 2017 will need a set of tires about 25K-30K, so there's $1K, and the 30K miles service is fairly expensive -- say $1.5K with a new battery. With only 12K miles on the clock, that 2017 should be highly reliable for 5 years, and won't have another expensive service until the 60K miles. So I think you're looking at around $2.5K plus the buyout to keep the 2017, versus the price of the new car.

IMHO.