Jasper2k

I'm trying to get out of my 2004 RX330 and into a GX470 (need more room!)... my local Southern California dealer, from whom I leased the RX thru US Bank, tells me that the RX is right now at breakeven - no longer upside down, and that I can get a comparable GX (Nav/Lev/RSES) for $200 more a month.

However, when I got the detailed breakdown, there was $2500 of packing - dealer options added to the GX (chrome wheels and crap). When I delete all that stuff, the discount below MSRP is almost nil.

So forget that deal.

Does anyone know - if my RX's wholesale trade-in value is truly breakeven with the 10-day payoff, can I go to another (better) SoCal dealer and do the same thing - return the RX, and deal on a new GX from their inventory?

Thanks!!

jayskinner

Who knows until you sit down and look at all the numbers. I bought out a lease several years ago (refinanced from a lease to a purchase) after 7 months, then traded the vehicle a month later, and re-couped about $2000 on the deal. But you won't know until you have the payoff (a determinable value) the trade-in value ( a guess at best until you get a hard figure from the dealer) and the new vehicle price from the dealer.

One thing's for sure - unless you have pretty definite numbers on all of those before going to a dealer, you'll take it in the shorts. They can play some serious numbers games on a straight up deal. I can't imagine what they'd pull in your situation.

HarrierAWD

I do know someone who returned a Toyota Camry leased from Missouri to a Toyota dealer in Connecticut. No problem.

eyebike

Well if somebody moved from NY to CA, you would think that you should be able to return it to a dealer in CA. If you leased through a local bank (my case) then you would have to return it to a place they designate at lease end. Thats my experience when I leased an Acura through a state bank here.

jayskinner

I think you guys are missing the point. It's not about where you can turn the vehicle in, it's how the finance numbers work to swing a trade. The mechanics of the transaction can always be worked out somehow.