BONLAW98

My lease is expiring next month and I have several questions. I anticipate getting a new sc430 as it is just the right car for me, but after 17 years of black cars, I am movin' on.

1. Has anyone turned in; sold; traded; or extended the lease? What was your experience?

2. Any definitive answer on changes for '05?

Thanks for any input.

BONLAW98

No down payment, so I owe about $40k. Since I am getting a new car, don't want to buy and pay the sales tax, then sell it a couple of month down the line.

Has anyone sold private party and paid off through the Lexus lease?

Are Lexus dealers buying them at over buy back? I doubt that since the dealers can have the turned in vehicles on their lot for a month "free" before they go to the auction.

Any guess what a stock, but well cared for, "02 with 24K miles and brand new tires (dunlop runflats) will go for?

mmarshall

I agree with you money-wise that a purchase at lease-end would be a good idea, but BONLAW is apparantly tired of black cars and wants a different color. ( I agree...black cars are awful in the sun or in a dusty or dirty area where they are impossible to keep clean ).
Leasing is advantageous if you don't drive a lot of miles, take GOOD care of your car, want a new car every 2-4 years, or want to drive more car for a lower monthly payment than you could otherwise afford if you purchased it from the start. Otherwise, buy (or finance) the car outright from the start, and you won't have to worry about the number of miles you put on it or if you get a scratch.

BONLAW, I would recommend turning in your black car, finding a new SC with the color and options you want, and then negotiating the best lease terms you can. Barring that, the stock '02 with 24K and run-flats is also a good option, but keep in mind that run-flats are not only expensive to replace but the stiff sidewalls that give them the ability to run without air tends to really firm up the ride....which is OK on a glass-smooth road but can get annoying over bumps.

Good Luck...let us know how it goes.

BONLAW98

mmarshall

Thanks for the reply. I wasn't clear. I am at the end of MY lease - the Black "02 is mine. Consistant with the latest survey, I love the car (F over 45 ahem) and will likely get the "05. However my lease is up in August and the "05s won't be out til Sept/Oct. So am in a quandry as to what to do.

It seems like a number of leases should have or will be expiring and would especially like input from those who have gone through it..

I'll keep looking for replies. Thankx

JJRHO

well, if you are interested in buying it, dont' settle for the initially agreed CEL residual price...
IT IS NEGOTIABLE... the dealer/finance co. does NOT want to take the car back if they don't have to.... they'd rather sell it to you and forego the hassle of reacquiring and auctioning the car themselves....

they will move a few thousand down from what you agreed to... but wait 'til last minute and let them sweat it out, rather than showing interest that you want to buy it first.... play them and say are willing to help 'em out.... don't tell them that you are WAY over the alloted mileage either, 'cause then they can force you to return the car and pay 'em for the overmilage, if it's to their advantage...


jim R
02 sc430
51K miles in 26months, 12K miles allowed/yr - you know i'm buying mine, when 3 1/2 yr (42 months) is up !

BONLAW98

Thanks for the info.

I didn't think Lexusfinancial negotiated the buy back price. I know porsche did come off the price quite a bit.
Any one with personal Lexus experience?

I don't think I want to buy it as I just want a new car- another sc430 of course-- but wouldn't mind a quick sale and make a few bucks if it is not too much of a hassle.

I am hoping to hear from someone whose sc430 lease had expired.

Thanks for any input.