Kipperm13

Hey guys,

I need to some help. I am thinking about buying out my 06 IS350. The buy out price is $26,175. It was a 3 year lease and I am over the miles about 8,000 = about $1,600. The Car has 44,000 miles. I live right out side NYC where you don't find too many IS350 and they all are 250awd. I wanted to know how I go about getting a lower buyout. Do you think i could get a better Deal. I mean I don't think used IS350 are moving right now around here. Do i deal with the dealership i got the lease from or with Lexus Finical's on the price. PLEASE HELP. Thanks

fredw1

You have to deal with the leasing company on a buyout, and most won't budge. You might inquire about re-leasing if you don't want to pay up yet. The only reason you would need to get a dealer involved is if you wanted to trade for another purchase or lease.

EJC

As stated the lease company not the dealer handles the buyout.
The problem is the residual is what is owed on the car. So the lease company probably won't budge. The reason I discovered with my LX470 is they have gap insurance, if they lose at auction the insurance pays off, if they drop the price voluntarily the lease company loses out.

However, it doesn't hurt to ask. The market stinks and they might do something.

Another possibility, ask them to release as a certified car. In this case, you can probably get out ofthe mileage problem. You'll pay for certification but have another 3yrs on the warranty. So you can look at the mileage $$$ buying the certification for you

IS-SV

Don't know if yours is a Lexus lease.

But fyi, Mercedes lease payoff amounts can be negotiated.

Phil888

iTrader: (1)

Well, if they dont budge just return the car, and go back the next day and try to low ball them again. But for that price, you can also get a 06' GS with lower mileage..

ocbc

We just went through this. The Difference in buying out the lease vehicle with 20,000 miles over and a new (PURCHASED) 09 was under $100.00 a month. You tell me what you would do. and we dealt directly with the dealer.

johnch

Current econimic conditions have no bearing on the agreement you made with the leasing company 3 years ago. Expect to pay everything that you agreed to when you signed the lease. On the other hand, buying a used car that only you have owned gives you some comfort in that you know its history and maintenance record. That may not be such a bad deal.

John

kalvano

The only time buying out a lease makes sense is if the car is worth more than the residual. That's the entire point of leasing, to safeguard you from being upside down.

Fizzboy7

I bought out my lease on my A4 and Audi would not negotiate the price. Whatever was determined from the start, stuck. I ended up going for it anyway, as it was cheaper to make buyout payments then get into a new lease. Plus I liked the car and had low miles. Of course, six months later someone broadsided me and totaled it. Hence, me at Club Lexus now.

brtnrdr1x

iTrader: (3)

i am currently around a year into my lease but in my contract it already determined what the buy-out would be..i think the lease n the buy-out worked out close enough to what a finance would be, but i wanted the comfort of knowing if i didn't wanna keep it i didn't have to..kinda drives me nuts wen i want a bigger engine later :/. i'll prob. try selling it before the lease is up so i can basically buy it out and maybe make an extra 2g's or so with mods and everything. but just getting out of a lease earlier this year, they wanted too much to buy-out, consider the value on kelly blue book n see if its worth it, but w/ the economy the way it is, maybe jus new lease. if i didn't have my is250 on a lease i would completely take ur car haha, i want tungsten pearl is350 haha.

tex2670

Doing this would require paying the mileage penalties, then sales taxes then license fees.

Jefe's IS

When I called about the buy out on our truck they immediately dropped the price by $1500. Give them a call and ask. All they can say is no.

You can try selling the car before you have it inspected for lease return. You may be able to sell it for the buyout price or more. You then won't be liable for the miles.

FYI You can go to www.lexus.com and set up an owners acct., if you haven't already, at view all you financial info, if you leased it through Lexus financial.

EJC

There you go.
4yr warranty = 4 yr lease