MaWizard

Hi

My lease expires next month and I have 25k miles on my ES. The residual buy out value is $ 21700. I don't want to buy it out but do you guyz think I can make a quick couple of grand by buying & selling it again ? Little hesitant since 07 ES had issues but my car had none of those. Your thoughts ?

garsarno

Same boat as you but my residual is $27,000 for Ultra version, 28,000 miles. Mine had the transmission replaced 2X but has run OK since with the "diesel when cold" option. Lexus credit calling for disposition but have not responded as yet. Past experiences from anyone would be great with regard to buying the car for less than residual and what was the offer to buy the car from Lexus credit (rate / years).

lexus!!!!!

garsarno, what is your plan for your ES ultra once the lease is over? what year is it?

I have an offer for a 2007 CPO Ultra with 60,000 miles for $25,400, consider your is $27,000 for 28,000 miles, I think mine is not a good deal?

tromly

Discounting all the taxes you have to pay to title the car, figure 25,500-26k to sell it. Good Luck

garsarno

Waiting to after 9/1 to dicsuss purchasing with Toyota Credit but they won't budge on the residual. With 2010 debuting (and slight changes to the model), I would negotiate a bit more or maybe meet the price with a Platinum Extended warranty incuded in their price.

MD350

For those with low miles with leases coming to an end. You can trade the car on your next purchase instead of turning it in, the dealer may give you a better trade due to the low miles.

My Father had an 05 Honda Accord lease, with 15K miles after 3 years. We took it to Carmax and got $2K more than residual...so they paid of Honda and cut a check to him for the $2K.

Bottom line, any dealer can "buy" your leased car instead of turning it in to the finance company.