Leasing a 13/14 CPO?
02-07-16, 01:21 PM
#1
Leasing a 13/14 CPO?
Does anyone here have experience with leasing a L/Certified/CPO LS460? I see that it is advertised on the Lexus corporate website, and was curious if anyone had ever done such a thing. I do not need a primer in leasing. Currently running a 13 GS F-Sport that expires in June, and I understand all of the factors of lease calculations. I'm mainly curious about what sort of money factor and residuals they carry. Additionally, it would be nice to know what people are actually paying, as e-prices in the NOVA (Pohanka and Lindsay) area seem to be listed for about 54-63k.
02-07-16, 03:02 PM
#2
Lexus Test Driver
Not sure if Lexus sets its own residual, which I assume they do if you lease through them.
However, leasing through a third party can often result in different residuals. Companies such as ALG set residuals that finance companies often use. Some manufacturers also use those values. In any case, the differences aren't that great.
Three-year residuals on brand new Lexus' is typically 55% from MSRP. I think at five years it's on the order of 35-37% of MSRP (just guessing). Assuming a $76k MSRP would mean a residual of roughly $27k. I would probably deduct 7-9% for a sixth year, after that I think the car won't be "booked" for a lease I think.
So, assuming another 8% drop, that would mean a residual of 27-29%. Assuming 28% at $76k would mean a booked residual would be roughly $21k.
If you purchased for $54k you would be paying on $33k. That's a lot relatively speaking. You might be better off leasing new IMO.
Only way to know for sure is to just ask.
Good luck!
However, leasing through a third party can often result in different residuals. Companies such as ALG set residuals that finance companies often use. Some manufacturers also use those values. In any case, the differences aren't that great.
Three-year residuals on brand new Lexus' is typically 55% from MSRP. I think at five years it's on the order of 35-37% of MSRP (just guessing). Assuming a $76k MSRP would mean a residual of roughly $27k. I would probably deduct 7-9% for a sixth year, after that I think the car won't be "booked" for a lease I think.
So, assuming another 8% drop, that would mean a residual of 27-29%. Assuming 28% at $76k would mean a booked residual would be roughly $21k.
If you purchased for $54k you would be paying on $33k. That's a lot relatively speaking. You might be better off leasing new IMO.
Only way to know for sure is to just ask.
Good luck!
02-07-16, 08:34 PM
#3
Lexus Fanatic
I know nothing about leasing them used. That's a pretty new option.
What sort of scenario have they presented to you?
What sort of scenario have they presented to you?
02-08-16, 08:41 AM
#5
Does anyone here have experience with leasing a L/Certified/CPO LS460? I see that it is advertised on the Lexus corporate website, and was curious if anyone had ever done such a thing. I do not need a primer in leasing. Currently running a 13 GS F-Sport that expires in June, and I understand all of the factors of lease calculations. I'm mainly curious about what sort of money factor and residuals they carry. Additionally, it would be nice to know what people are actually paying, as e-prices in the NOVA (Pohanka and Lindsay) area seem to be listed for about 54-63k.
02-08-16, 09:25 AM
#7
Was this a $0 down, just sign and drive lease. If not, for $700 per month you could be buying and not leasing.
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02-08-16, 02:48 PM
#9
Lexus Fanatic
02-08-16, 04:36 PM
#10
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I am in almost the same boat. 2014 GS f sport coming off in December. With 6 total years of warranty and 2 years of maintenance, I am really curious about how the residuals are set and the MF associated.
02-08-16, 04:54 PM
#11
Each to his own but leasing a used 3 y/o or older CPO may one day be the norm. People I know lease new vehicles and not CPO used ones. Leasing allowed many to drive a nicer vehicle on a small budget. I've leased new vehicles in the past but I didn't like some of the restrictions that came with it, especially the limited mileage. Leasing is good and convenient for many but $700 a month to lease a used LS 460. I don't think so.
02-08-16, 05:35 PM
#12
Lexus Fanatic
The point of leasing is not only to drive a "better car on a smaller budget", there are tax implications if you can deduct a vehicle for a business expense, you're locked into a resale value, protected from things that happen to the car that can diminish the value (accidents, Etc).
At $700 you're driving an LS460 for $3-400 a month less than leasing a new one. You can make the same argument "$50,000 for a used LS? No thanks"
At $700 you're driving an LS460 for $3-400 a month less than leasing a new one. You can make the same argument "$50,000 for a used LS? No thanks"
02-08-16, 09:02 PM
#14
Lexus Fanatic
Its pretty new, within the last few months coinciding with the revamp of the Lexus CPO program (L/Certified).
One of the main reasons I didn't do a CPO LS for either of my ES purchases or honestly my GS was because I couldn't lease, and I need to lease for business. If I could have leased a CPO LS I would have seriously considered it.
One of the main reasons I didn't do a CPO LS for either of my ES purchases or honestly my GS was because I couldn't lease, and I need to lease for business. If I could have leased a CPO LS I would have seriously considered it.
