DigMyM35x

Hi all.

Our RX lease will be ending in a few months and we are probably going to end up buying the lease out at the end (hopefully this won't turn into a buy vs. lease thread as we worked out numbers from the get-go due to tax considerations, etc. and this scenario DOES make sense for us and our accountant!).

What I was hoping to find out is if anyone has bought out their lease recently. Does LFS offer discounts now with the market slowing? Has anyone received notification, etc about buyout offers? Anyone expecting them or seen them in the past?

I recently got a $5,500 buyout discount on our other vehicle and it really made a lot of sense to buy it as we both have very low mileage and know the cars have been well cared for.

Looking for any thoughts or recommendations on buyouts.

Thanks!

Jay

regor60

As a reference, I bought an '05 RX330 with 47k miles from LFS for $17.3k at auction.

My guess is the residual assumed on the car was more like low 20s. My broker indicated that a couple of months ago, I would have paid in mid-20s at auction.

So, whether or not LFS would sell the car to original lessee for this amount, I don't know, but clearly they are at least $4k underwater to your negotiating advantage.

Jimkerry

Regor - Would like to know more about this auction if you don't mind. $17K and chance for a 2005 with less than 50K miles is a phenomenal deal.

Thx,

Jimbo

regor60

Find someone you trust to recommend an auto broker for you that they have worked with. These brokers buy at car auctions, manheim auction is where mine came from in Orlando.

I'd give you the name of mine, but I haven't actually picked the car up yet, so wouldn't want to vouch for him just yet, but so far so good. $17.3 for the car, $650 broker fee, $265 shipping or $18,215.

JackRX330

that's a nice deal.
just got my 2005 rx330 3 weeks ago. certified with 43k miles for $25k (including all taxes and fees)

Kostyan

I am a huge non-believer of that 05 330RX for 17 grand.

Regor, have you physically been on the auction lot, have you inspected the vehicle you bought, do you know which lane was it sold at (green, yellow, or red), have you stood in front it to hear the selling price? Have you pulled the CarFax and Autocheck records? Does it have a clear title?

regor60

Well, I have the vehicle in my business parking garage for the next two weeks to surprise my daughter for XMas after picking up today, so it's real for me Printed both Carfax and Autocheck records, one owner, no indications of damage, apparently clear title, have service record history along with the dealership that it was serviced at, called my local dealer and discussed pros/cons, called Lexus and spoke to them about something or other, printed all the TSIBs so know what to be alert for. Oh, and I have the bill of sale for $18.2 from Montgomery Auto Group and that's all they're asking me to pay....

But, I am getting the small divot in the glovebox door fixed for $110, otherwise no dings, a few miscellaneous paint marks will likely be remediated by a good wax job.

I'm happy. Apparently your credulity has been strained. I suggest you get someone to run some manheim auction sales to see what they're clearing the market for. I guess my broker could have actually paid LESS than the $17k he says he paid and could be pocketing the difference....

Had you read more carefully my prior post, the question of the price should have been pretty clear by now...

Wronglane

Wow that is a good deal.We paid 26k for a 2005 RX330,Navi,TV's in head rests,CPO with 42k miles on it.

regor60

Well, mine doesn't have Navigation or TVs. It has Premium Package Plus, heated seats, etc along with the Thundercloud stuff. Sounds like yours is fully loaded.

Also, you have another 50k miles warranty due to the CPO, don't forget.

arima

those car auctions are pretty tough if your picky. all you need is to find someone that has a dealer (used car etc.) license. Over here in NY they charge about $250-$350 as a fee. the tough part is you get to inspect the cars a few hours before the auction, you can start the car and that's about it. All other research is up to you. A few friends bought their cars this way, mixed feelings. I guess it depends how much your spending. The cars are sold as is. The dealer usually keeps the good cars for themselves since they get first pick, then the rest gets sent to auction, so if you think your getting a great car at the auction think twice.

DigMyM35x

Hi guys. Great posts and thanks for checking in on this thread. I think the information you all posted would be great in another thread as I believe MANY people would be interested in this approach. However, I'm looking to buy my lease out directly from Lexus financial and I'm really hoping I can get some feedback from some folks with their experiences about whether or not a lease end negotiation or discounts due to the current market are realistic expectations.

Thanks!

Jay

republix

Hi DigMyM35x,

I just bought out my 05 RX-330 from LFS. I tried negotiating down the buy-out price, but they would not budge. I spoke to several people but to no avail. The buy-out was only 20k (no nav) and the car has given me 0 problems, so I thought it's a good deal anyway.
I probably won't get a new car for several years, so I'm happy to use the car in the meantime.