*53,000 miles on the RX350-To keep or To Sell?*
06-30-10, 05:18 PM
#1
*53,000 miles on the RX350-To keep or To Sell?*
What's happening guys-
This is targeted towards more of those 2nd GEN RX330-50 guys with higher milage on their own. My current situation is as follows-
-Leasing a 2008 RX350.
-Currently pushing 53,650 miles(Already OVER lease agreement by 8k miles).
-Will have to pay $0.25 per every mile OVER.
My questions to you guys and I do need some serious advice and your opinions. Should I keep my RX? And do you think it will survive me putting 100,000k miles on it? I daily drive this car-so that's how the miles get racked up. If I do decide to keep it-the overage fee will be waved and I think I have a buyout of 25k? Do I have to pay taxes on that purchase or was that already handled in the lease agreement.
Another question-
Do you guy's recommend purchasing an extended warranty if I DO in fact keep the car? Or are the services something I can get done at my mechanics shop- and not necessarily have Lexus do it for me. The big things that need to be done are what exactly?
Just looking to get some wisely advice from some members. Enlighten me!
Thanks guys!
This is targeted towards more of those 2nd GEN RX330-50 guys with higher milage on their own. My current situation is as follows-
-Leasing a 2008 RX350.
-Currently pushing 53,650 miles(Already OVER lease agreement by 8k miles).
-Will have to pay $0.25 per every mile OVER.
My questions to you guys and I do need some serious advice and your opinions. Should I keep my RX? And do you think it will survive me putting 100,000k miles on it? I daily drive this car-so that's how the miles get racked up. If I do decide to keep it-the overage fee will be waved and I think I have a buyout of 25k? Do I have to pay taxes on that purchase or was that already handled in the lease agreement.
Another question-
Do you guy's recommend purchasing an extended warranty if I DO in fact keep the car? Or are the services something I can get done at my mechanics shop- and not necessarily have Lexus do it for me. The big things that need to be done are what exactly?
Just looking to get some wisely advice from some members. Enlighten me!
Thanks guys!
06-30-10, 05:50 PM
#2
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you will be charged sales tax on the price. lease agreements only charge sales tax on the actual payments you have made. therefore, the remaining portion has never been taxed yet.
whether u keep it or not depends on what kind of owner you are. are you happy keeping this car long term? if so, then i think the $25K is a fair residual (and it gets you out of the $2k overage fee). if you like having a newer car all the time, then $2K isn't the worst i've heard in terms of overage fees. u can probably make that up in searching for discounts/incentives on any new car you are looking at.
if you do decide to keep it, i'd only buy a lexus warranty (if possible, i dont know much about lexus warranties). im not big on aftermarket warranties. my coworker was able to buy an extension of the cpo warranty on his 07 rx350. as for the mileage i dont think you should have any issues. my sister is on 150K and counting on her rx330!!!
maybe u can also bargain with them... cut the overage fee or negotiate down a lease on a new 2010 leftover or 2011 RX. I love the new interior and exterior of the next generation.
whether u keep it or not depends on what kind of owner you are. are you happy keeping this car long term? if so, then i think the $25K is a fair residual (and it gets you out of the $2k overage fee). if you like having a newer car all the time, then $2K isn't the worst i've heard in terms of overage fees. u can probably make that up in searching for discounts/incentives on any new car you are looking at.
if you do decide to keep it, i'd only buy a lexus warranty (if possible, i dont know much about lexus warranties). im not big on aftermarket warranties. my coworker was able to buy an extension of the cpo warranty on his 07 rx350. as for the mileage i dont think you should have any issues. my sister is on 150K and counting on her rx330!!!
maybe u can also bargain with them... cut the overage fee or negotiate down a lease on a new 2010 leftover or 2011 RX. I love the new interior and exterior of the next generation.
07-01-10, 09:47 AM
#3
The leased car is over 50K therefore can not get Lexus Extended warranty. You can have it CPO'd but that means more money to get an extended warranty.
Based on the above, get out of the lease and get a 2010, negotiate to transfer your lease. The actual $$ plus/minus, you can figure it out.
Good luck anyway.
Based on the above, get out of the lease and get a 2010, negotiate to transfer your lease. The actual $$ plus/minus, you can figure it out.
Good luck anyway.
07-01-10, 07:01 PM
#4
Thanks for the advice! Guy's I want you to tell me if this sounds like a good deal- they said a 10' SFP/Ivory with Navi, comfort, and remote start MSRP was 48k on the car- they discounted 4k, which brought it down to 44k. Does that sound average?
07-02-10, 05:15 AM
#6
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If you trade the car the mileage doesn't matter. They will give you what the car is worth, if its enough (or more) to pay off your lease then the additional mileage isn't taken into account. Because after all the dealer paid off your lease when they buy it from you.
The additional mileage only matters if you keep the car to the end of the lease and turn it in.
The additional mileage only matters if you keep the car to the end of the lease and turn it in.
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