COGF16

iTrader: (1)

OK I know there are similar threads recently about buying an '08 now but I wanted fresh advice! Took my '06 GS in to the dealer in Cincinnati today to ask about the recall items mentioned earlier and to enquire about my options when my lease comes up next month. I was really leaning towards buying out the car at termination ($25,000) as it is in good shape and relatively rattle free but was intrigued by the earlier post about carsdirect.com pricing. I initially tried to negotiate a few thousand off the residual for my current car but he said that they don't come off that number. I pressed him a little and he said that he would talk to his used car manager about the value, residual etc. and let me know. My thought is that the car is worth about $21-23K and if I can get the buyout down close to that, I would strongly consider buying it. So then I "attacked" him on a new GS. To make a long story short, the GM produced a flyer offering $8500 off sticker for a new '08!! And went to his computer to locate many different color combo's! He said that he will bring a car in of my choice (within reason, distance wise) if I want the deal. I am really considering this as the best financial deal for me. I figure my choices are
- Walk away at end of lease
- Buy the car at end of lease for $23-25K
- Buy new '08 with $8500 discount! for around $41K

Seems to me that getting a new car with zero miles is worth much more than the approx. 16-17K difference. Your thoughts/advice is greatly appreciated.

Mark

COOLIS

I would buy out the car at the end of the lease and be payment free. I dont think you need to worry about any problems considering its a Lexus. Do you have the 300 or 430? If you have the 300 maybe upgrade to the 350 or 460 considering they drive a lot better than the 300.

COGF16

iTrader: (1)

I have a 300 and agree that payment free would be nice but 17K diff between new and 48K miles '06 seems like a no brainer. 'Cept for the rattles!

spine911

iTrader: (4)

I always go for the "payment-free" option especially in this economic environment....A Toyota/Lexus is a Toyota/Lexus-48K miles is nothing.

Stormforge

personally, i'd go with the '08. new car with zero miles, and has a few minor refreshments that makes it better (eg: puddle lights on the side mirrors are standard - someone correct me if i'm wrong).

but...if concern about job security, financing issues, economy, etc affects you, then by all means buy out the lease. only consider an '08 if money problems (or potential money problems) don't affect you.

I8ABMR

I would do the 08. Its a deal and a half. The car is also way more powerful than the GS300. The GS350 will probably feel like a supercharged GS300 with low boost. Different animal living under the hood

olddog

iTrader: (2)

isn't there like no significant difference between the 06 and 08?
And won't the new style/model GS be coming out at the end of 2010?

If you buy a new GS, you will only enjoy it fo a year or two before the new one comes out (am guessing you will want to jump into the new model).
Just buy out your 06 and enjoy it for another year and half before the newer style/models come in.
many say the 08 comes with zero miles......etc
at your mileage, your car at the current mileage is considered new so for many many many people. mileage is almost just a mind thing when it comes to lexuses....


olddog

Yang1815

iTrader: (1)

I'd give it back and get something else. If you really wanna come back to GS then wait for 4GS. I wouldn't want to drive the same generation cars but that's just me.

mikedozz

I would buy the car out and then hold it for a few years, maybe get the new 4th Gen once its in its 2 year of production so some of the kinks are worked out, thats what I planning on doing anyway, buying out my GS, buyout is $21000 and hold it for a year or so and then sell it privately and take the positive equity to use on my next lease, maybe 2012 GS for a lower payment on the lease.

Ice350

iTrader: (1)

This is easy.
If money is no problem get the 08. We all love new cars. It's programmed in to us by our capitalistic society.

If money is a consideration, keep the 06. Although I'm willing to go on a limb and say if you playing in the 50K car league, money probally isn't a big issue. If it were you's drop off the lease and get a Honda Accord.

EyeKutr

iTrader: (5)

just out of curiousity, did you ever figure out the numbers with the lease and purchase at end versus just purchase up front and financing ?? I would be curious to see, Thanks

retrospexo

if you can break the bread get the 08. you turn in your old car and walk out with a brand new one if you want to hold on to your 06 (for the many obvious reasons) by all means, you're not hurting yourself.

COGF16

iTrader: (1)

An update... The dealer is now offering $9500 off an '08 but charging me $500 to bring in whichever car I want. Still lots of '08's out there I guess. Am still mulling over my choice. They did not come off the buyout price of $24,900 so I think I would be overpaying for my car by a few thousand dollars. Keep bringing me your thoughts

Thanks

socalJD

Your lease residual is based upon MSRP, not your negotiated price. So even if you negotiated a great deal on the lease, you're paying sticker (prorated) on a buy-out. If LFS won't discount the lease buy-out, turn it in. Do some research, all new car dealers are hurting (due to the economic slowdown) so there are tremendous deals out there. I'd be wary of getting an '08, its almost February and the '09s have been out since Sept, so your preferred color & equipment may not be available. You can still get a brand new '09 for under invoice, and I have to believe that lease rates are very attractive right now. Good luck.

COGF16

iTrader: (1)

$9000 off an '08 is a great deal, but I wonder what I could get off an '09? You say under invoice? It is getting to be end of month, maybe I'll call around

Thanks