darylrsv4

iTrader: (2)

My 2015 GS350 Fsport 2 year lease is up 1/1/17. I have 3 options but would like opinions from you guys.

• Turn in car (I'm already at 32k miles on a 24k lease.I'll have to pay $2500 + disposition fee)
• Purchase car from Lexus (owe $42k, but blue book is $39-40k with options I have. Try and negotiate with Lexus payoff?) I really want a 1-2 yo BMW 435i so I would trade the GS in for that.
• Purchase car and keep it. I really like the car but I'm wanting to step away from Lexus and try something else. I also have a heavily modded 08' IS 250.

What would make the most financial sense? Thanks for your opinions..

Afrosheen

Check the current payoff minus your extra mileage and see if it makes sense to buy it out. Since you ran over you're going to have to eat some excess one way or another.

Not sure how serious Lexus Financial is about that payoff number, if you can renegotiate or not. It's worth it to phone them up and check.

If it was me, I'd eat a little on mileage, turn it in early then stay in the Lexus family with a new car to avoid disposition, wear and tear and other fees. That's what they want you to do anyway. They might even waive mileage or roll it into your next lease..

Ultimately, if black book value is close to your payoff, and you want to shift models, start getting quotes from carmax or other retailers to see how much you should get in trade at BMW.

enoren

Don't stress about the mileage. Take it in a month before the lease is up and have the dealer treat it like a trade-in. I'm on my 6th lease and I've never paid for being over miles (and I'm always over).

darylrsv4

iTrader: (2)

I'm assuming you're talking about turning into the Lexus dealer and not trading it into another dealer?

Appreciate the feedback guys..

joedaddy1

iTrader: (1)

Go see how much the BMW dealer is willing to give you right now for your car. Also check CarMax.

You can't "win" at this game.. but you can soften the blow.

darylrsv4

iTrader: (2)

True that, we all know how bad an investment cars are.

I'll definitely see what some dealers will offer for my GS and test drive a 435i before I just blindly jump into one. I'm not going to lose my ***, another option is to turn in my 15' and go with a 17' GS or an RCF.

BMW 's reliability is a little concerning though compared to Lexus..

SW17LS

LFS will never negotiate the residual.

jtrue28

If you turn it in early, residual doesn't matter. It's all about black book values at that point.

SW17LS

Well, the residual does matter in that the payoff is based on the residual plus the remaining payments, I was just replying to the question about whether they will negotiate the residual on a buyout.

darylrsv4

iTrader: (2)

Currently thinking about buying a salvaged titled 14' BMW 335 I from a co-worker w/ 49k miles for $18k. Car is really clean. Thoughts?

Also, will the dealer say anything about my GS being turned in w/ 20's and being lowered?

JDR76

Well, my first thought is RUN!

What was the cause of the damage to the car that led to be being salvaged?

bclexus

I'd stay away from it. You could probably buy that car at auction for half the price.

Nah, they won't say anything...that you'll like hearing.

darylrsv4

iTrader: (2)

Ha, will do. Front end damage, not sure the extent.


Thats where he bought it.

Care to elaborate?

bclexus

Don't you think your co-worker is trying to make a profit on the salvaged titled car he bought at the auction? Do you know how much he paid for the car? Did he pay too much? Front end damage is most always the worse.

Your Lexus dealer should charge you to put the car back in original shape so the car can be sold on their lot...or they may decide that putting the car back in original shape is not worth the cost and effort and just sell the car as-is at auction - and charge you the difference. Either way, it's not going to be good. You have modified someone else's property that you are leasing! If Lexus does take the modified car at turn-in without anything said, I would be totally surprised.

SW17LS

IMHO turning in a GS lease early and getting killed on it to buy a salvaged titled BMW is insane.