How to buyout a lease
#1
Driver School Candidate
Thread Starter
Join Date: Mar 2013
Posts: 13
Likes: 0
Received 0 Likes
on
0 Posts
How to buyout a lease
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
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
#2
Driver School Candidate
Join Date: May 2014
Location: CA
Posts: 32
Likes: 0
Received 0 Likes
on
0 Posts
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.
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.
#3
Lexus Test Driver
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
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
Last edited by FastTags; 07-03-14 at 11:51 AM.
#5
Lexus Test Driver
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.
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.
#6
Driver School Candidate
Thread Starter
Join Date: Mar 2013
Posts: 13
Likes: 0
Received 0 Likes
on
0 Posts
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 #$%^. Any thoughts on this?
#7
Lexus Fanatic
iTrader: (1)
Another thing I heard from my "sales guy" at Lexus....he claimed that the dealership might have right of first refusal....meaning that they could take the car from me and not allow me to buy it out. I looked on my contract and didn't see anything like this discussed so I think he s full of #$%^. Any thoughts on this?
He's full of #$%^.
You have a contract.
The dealer doesn't want you to buy it out.
Trending Topics
#8
Lexus Test Driver
#10
Lexus Fanatic
The buyout from LFS/TFS is NOT negotiable. Never.
#11
Lexus Test Driver
#12
Lexus Test Driver
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.
#14
Moderator
iTrader: (20)
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
#15
Lexus Fanatic
I have never seen anybody negotiate a buyout with LFS/TFS.