jmtamu

On a related note, I have a 2014 GS F sport with a lease end date of March 2017. Would Lexus let me trade it in during December 2016 if I get another Lexus? Wife wants a RX or LX.

patgilm

You can trade in the leased car like any other car and to any dealership. Question is whether you have any equity in your car when you go to trade it in. If not you will have to pay the difference or roll it into the new lease.

dseag2

Agree with Joedaddy's recommendation that you end the lease and try to buy the car CPO'd from the dealer. If you have taken good care of it, have kept up the maintenance and have had no issues why go looking for another '14 model when you don't know anything about the history of that car? It might be worth a few thousand $$$ more to have the peace of mind that it was always YOUR car.

jmtamu

So Lexus won't forgive a couple of months if you are going to lease another car through them? Not a huge deal for us as we can just wait until March if they won't work with us.

patgilm

You can work it into the deal with the dealership but I doubt Lexus financial would just forgive it. If you are at the end of your lease you may have equity in your car but as the OP said, it looks like there is none so it is best to just wait. In my case, I went to a friend of mine that is a GSM of an Acura dealer and we looked at my residual and it was $4k higher than the wholesale price of the car. No dealer is going to buy the car out from the leasing company knowing they will take a $4k loss and I wouldn't add the $4k loss to the price of the new car. In my case, I only have one payment left and the $350 lease termination fee. It is cheaper to have the dealer pay the remaining payment and lease termination fee than buy the car from the leasing company for $4k more than it is worth.

Maureenmsw

Good morning,
I am hoping someone can help me with my end of lease purchase. I leased a 2013 rx350 and purchased it this month. My lease is up July 1st and I was advised by Lexus financial that they were back logged and would not get my title to me before then. I have spoken with several customer service reps including supervisors that agree to send me a power of attorney letter so that I can register the car temorarily however they never sent it and now I'm told that they won't send it because I bought the car. Basically they've gotten the check and it's not their problem. They've closed my account and will no longer help me. Over the past week I've spent over 3 hours on the phone on hold trying to get someone to help.

Has anyone had this experience? Any advice on who might be able to get me the letter. Without it I will need to park my car for the next month and rent a car for over 1400.00 dollars.

This has been the worst customer service experience I have ever had. Any suggestions would be greatly appreciated!

Thanks!

oldcajun

I have a 2014 ES350 and my lease is up in July. Two months ago, I got a letter from Lexus Financial offering to allow a 3 month early lease termination with no penalty if I lease another Lexus through them. This is my 3rd Lexus lease and the first time I got such a letter. It is possible that they will agree to let you out early. I don't know what factors they used in making the offer to me this time. By the way, I still had lots of miles left on my lease so I declined.
Steve

patgilm

I bet you had equity or maybe they don't have a big loss by doing that. They are taking a $4k loss on my car so I bet they wouldn't do it for me.

Sulu

Lexus may be looking for good condition, used (2 to 3 years old) models, and looking to their lease customers (captive audience) is a good way to find them.

The dealer and/or Toyota/Lexus Financial are also more likely to do deals with you if you are a repeat customer (or if they want to and believe that they can entice you to become a repeat customer).

drjosh123

Thanks. This option definitely sounds like a winner to me. Great vehicle. Would love to lease another if it makes financial sense. I will contact Lexus Financial to discuss.

drjosh123

As I was just stating to RLD14, I am going to contact LFS. Looking forward to this option as it buys me the time I need to get to the December Event.

Thanks for everyone's help in this. These forums are fantastic - people really do care.

Chocolate

Generally speaking, with late model cars, Auction = Bad News, or it's a non brand or high mile car they don't want to sell at the dealership.

coolsaber

back in 14 ago, BMW offered me and others a 6 month jump forward for certain MY vehicles as one of their sales push and inhouse conquest/loyalty incentives. They no longer do 6 months, I believe the best now is 2 months. Back then they did conquest cash, so might not hurt to see if they have any similar programs available. However if your for a GS lease again I`d wait for the heavy subsidies to come out before jumping the mark. If they get insane again, it might be a loss to buyout at lease end

rld14

Few points here...

First, Lexus usually has some sort of Payment Waiver deal going on if you get into a new Lease or Finance (Must be with LFS) deal. It's 3 payments, and the cool thing is that you're still allowed the total contract mileage.

Second, we're not allowed to sell a Lessee back their car at any figure other than the residual. A typical CPO GS (I move probably 15 CPO GSs a month) runs me right around $2200 through the shop plus $1395 to CPO it.

So if I did this at cost... $43700 if your residual is $40K... I have a CPO 15 F-Sport on the lot with under 20K on it you can have for that.. You're probably better off finding a CPO car just like yours for realistic money.

Now, we did do this with someone who had a GX, it made a TON of sense because GXs and LXs tend to have residuals at or often well below wholesale.

As far as Auction goes... generally few nice off lease Lexus make it to the auction. Rare and in-demand stuff generally only makes it there if it's in bad shape or high miles. However, most any lease return that we buy often says "Sold at auction" even though it never left our lot because *_technically_* we're buying it from an auction as the dealer direct site is run by Adesa,

situman

Is there a reason why LFS will not allow you to sell the lessee back their car? Also what's the reason why LFS will not allow the lessee to negotiate the buy out after lease ends? I understand it kinda forces the customer into a new car, but it also increases supply in the used market. Can't think of anything else.