radman07

Hello all,

I am approaching the end of my 2013 AWD GS350 lease. After doing some research I thought that it was possible to negotiate the residual buyout price. After taking with the finance guy at Lexus they tell me that it is not negotiable because Lexus takes out insurance on the lease in the event the car is worth less.

So my question for the forum is this a bunch of sales talk or is this infact true? My lease is with Lexus Financial....

Thanks for your comments.....

Radman

MikeyTown

From what I've read, Lexus doesn't like to negotiate their residual values for buyout.

If anyone has had any luck with this, I'd love to know. I am planning on buying out my lease when it comes due, as well.

FastTags

The only thing you can do is try.

if the Buy out is significantly more than the car is worth (considering the mileage and if any accidents), you should call Lexus and speak to them directly, as the Dealer does not like that at all and will not try to help you, especially if this is a low mileage car, they would rather buy it for themselves.

If the car is low mileage and worth more, than forget about it. Bank prolly wont do it.

I dont know specifically about the LF, but I do know that sometimes you can get to lower the Buy Out with other automakers, usually with US cars, since they loose value like Homer Simpson looses his kids

Joeb427

iTrader: (1)

I also was told recently from Lexus finance rep absolutely no negotiating the residual buyout price.
Regardless of mileage.
As mentioned,the leased vehicle is insured against a loss of value.

Banks and leasing companies usually will negotiate the residual..

ItzFilyO

I have never negotiated with Lexus Financial yet but with Toyota Financial (TFS), which is really the same as Lexus Financial (LFS), it's not negotiable. My friend and uncle couldn't negotiate the buyout price for their Camrys and they had to pay whatever the residual is on the paper.

Dealer couldn't do anything on this, you have to talk to the bank (LFS) directly. Dealer is only good if u want to trade it in.

radman07

Another thing I heard from my "sales guy" at Lexus....he claimed that the dealership might have right of first refusal....meaning that they could take the car from me and not allow me to buy it out. I looked on my contract and didn't see anything like this discussed so I think he s full of #$%^. Any thoughts on this?

Joeb427

iTrader: (1)

He's full of #$%^.
You have a contract.
The dealer doesn't want you to buy it out.

FastTags

Yep Bs. Tell the sales guy to go screw himself with the refusal

Schmexus

I despise car salesmen. I've never met an honest one and I've purchased a dozen or so vehicles. That's a classic case of money being more important than honesty and integrity.

SW17LS

The buyout from LFS/TFS is NOT negotiable. Never.

FastTags

I have but not in the new cars, i the used i have met a few good egs

ItzFilyO

Sometimes dealers don't wanna buy the car either, they just returned it to the bank cause the payoff is higher than the market value and they can't make money off it. Some of my leased Camrys went back to the bank.

Rudiculous

iTrader: (15)

I think the info you got is legit.

Or else why put the residual value at lease-end on the contract? Also, LFS does in fact provide GAP insurance on every leased vehicle to protect themselves for loss of value

bigblack06

iTrader: (20)

Actually there have been times were some have been able to negotiate the buyout. Toyota/Lexus doesn't allow it anymore but it was done a while back, just saying.

SW17LS

I have never seen anybody negotiate a buyout with LFS/TFS.