modthispny

even though i'm paying $100 less with my 15' f-sport, i should have gotten the car for an additional $60 less than what i'm currently paying. it's water under the bridge now, but just wondering about a few things.

they sold me my '15 f-sport for pretty cheap($57,800 sticker, sold it for $50,xxx) this was right when the 15's hit the lot. white on red combo too which is hard to come by.

i traded in my '13 GS lease 4 months earlier, so they added $2400 to the total price of the new car. It hit me that i'm double paying the first 4 months after the fact unfortunately.

but, hypothetically speaking, when you trade in a lease earlier and there are still payments left, does the dealer usually eat that cost? does lexus financial eat this cost? can you even trade from one lease to another without having to cover the remaining lease payments?

thanks

Joeb427

iTrader: (1)

Lexus usually has a early lease termination of 3-4 months program if you buy or lease another Lexus.Many auto manufacturers do.
Unfortunately,your dealer may have ripped you off.

modthispny

yup, i don't disagree.

but just wondering for future leases.

Joeb427

iTrader: (1)

Live and learn.
We've all been there.

AL13NV8D3R

Those who are not in the know will be taken advantage of by STEALERSHIP. The dealer is there to make profit. And they will use your inexperience to their advantage. But at least the gave you a good price for that car.

The first car i ever bought when i was 19 years was a brand new 2001 Honda Accord. I got a got deal on it but because i was inexperienced i was ripped off too. After siging paperwork, i drove home and took a real good look at the paperwork and found some dealer addons like floor mats and pinstripe and paint protection film. When i search the car NON of those dealer installed items were installed on my car. Well you live and learn. My bad.

1111GS

How did they get away with something like this? If yours was a trade in, you should be off the lease.

jjscsix

While I don't know this for a fact, I would bet that even when the financial arm says they are offering an early termination that the dealer participates (as they do in many incentives). As long as they know going in that they are sharing the incentive they can build it into the deal they make the buyer.

mso4

iTrader: (1)

BMW is the only company that I know of who would eat the remain 4-6 months when you lease a new one. I've never heard of Lexus doing this. But yeah I would not deal with that car salesman again. He should be been more clear to you.

MikeFoxx

iTrader: (8)

That money always goes somewhere... sometimes in the next vehicle's financing. I'd go over the sales contract very slowly again.

modthispny

i mean the 2400 that was added to my car price is 4 months of my old payment, so i'm paying that plus my current cars payment.

modthispny

that's the thing, i was dealing directly with the sales manager and he was punching the numbers right in front of my eyes and had the monitor right in front of me, i knew what they did, but after the fact i realized that i was technically going to pay 2400 in payments for a car that i no longer had.

lesson learned, i should have just fulfilled the entire lease, but that white on red interior got me to make an impulse decision sadly.

modthispny

fortunately though, i don't mind the price i'm paying for this car, even after being ripped off. guess that's the silver lining lol

bclexus

Someone must pay for the remaining payments - there are two options for this to happen.

(1) The dealer sells your lease trade-in with 4 months of payments still remaining to someone and have the new buyer/lessee of the returned vehicle pay those 4 remaining payments either up-front or spread them out in the financing. (That is very doubtful to happen. *)
(2) You (the lessee) pays the remaining 4 months on his/her contract obligation (even though the lessee gives up the vehicle early), and the dealer adds those remaining payments to your new lease contract and spreads them out over the life of the new lease. (This is what should happen.)

* Note: There is no guarantee that the dealer will be able to sell or re-lease the returned leased vehicle that still has 4 months of payment obligation remaining. Someone must make those payments, and you are the one that agreed to do so.

Dave Mac

I wouldn't say that dealers really eat remaining payments or anything else but they often do pay them to Lexus Financial which I don't believe eats anything. I am usually 1,000 - 2,500 miles over my lease amount and the dealer simply send LFS a check for the excess miles. And the last time they did this for me they were two miles - 50 cents under and LFS sent me a bill for that amount. Next time I am not going to be over by much more than 1,000 miles so plan on having the dealer pay the new lease end charge - I don't recall the amount but something like $400. Lexus Financial and your dealer don't really have a relationship and the only way things like this can be avoided is to have the dealer buy the car from you prior to lease end at a price high enough to work for you.

Dave Mac

jjscsix

Dave, if the dealer pays Lexus Financial the remaining payments how is that not the dealer eating them?