laketuna

Hey guys, I'm new here!

So, I drive an '09 SC430 Pebble Beach edition, and the dealership made me an offer that I'm considering; they buyout my car before the end of the lease (Jan, 2012), and I sign a new lease with any Lexus they have.

I'm wondering what motive they could have for wanting to buyout before the lease over. I had the impression that they would just end my lease, and start fresh on a new lease from the numbers they were showing me. I haven't asked about the details as I'm only just interested, but that's what they sounded like, at least. Does anyone have experience with offers like this on his or her lease? Obviously, it is to their advantage, but any advantage for me other than getting a new car?

caddyowner

Welcome! The domestic automakers have been offering lease pull-aheads for years to try to churn the base. For some of the domestic programs, they would not pro-rate the mileage for the shortened term, so it was to the lessees advantage to accept the pull-ahead if they were running high on mileage but not yet over the maximum for the entire lease. Beware that many of these programs contain some smoke and mirrors - the automaker may only offer 3 months of pull-ahead and they dealer bakes the rest of the payoff into the deal for the next car.

I can see, however, that Lexus dealers (and other premium brands) may be interested in getting late-model cars in for resale. They sold so few 08s and 09s due to the economic downturn that there is a smaller pool of used cars to sell.

laketuna

I should have mentioned that I have only 16K miles (!) on it after two years of driving, lol.. I'm not really bothered by the mileage, but I just want to make sure I'm not getting ripped off on some vague pull-ahead terms, like having to bear for some of the cost of the remaining leasing cost, or getting my car appraised mediocrely even though it's probably the best 2-year-old SC out there you can find.

Are there anything else that I should watch out for, if I do decide to accept this offer?

bagwell

they're probably just trying to sell you car...

and seeing as yours is low mileage and Im assuming in great shape its probably worth more than the residual value.

make sure they don't roll those remaining payments into the new lease somehow.

mmarshall

I don't see where that is such a big issue. Even if the OP doesn't get credit for the unused mileage, he still has saved some money by not spending it on the gas, maintenance, tolls, etc.....(and possibly more insurance) it would have cost for him to drive the extra miles. So, he's already got that money in his pocket instead of in the car, no matter what kind of a deal they give him.

Yes, the shortage of good used cars because of the 2008-2009 recession is real. Part of that is because the Federal Cash-for-Clunkers program that helped sell a lot of new cars in 2009 (we taxpayers footed the bill for that) did not allow those those used, traded-in vehicles to be re-sold on the market.....by law, those traded-in vehicles were sent to the crusher, even in decent condition (what a waste). So, dealerships are trying a bunch of things to get people to sell or trade-in good used cars, like offering more-than-Blue-Book for them, or special incentives for brand-loyalty or repeat-ownership. I, for example, have been offered all kinds of deals for my used Outback....but I won't be ready to sell it or trade it until at least July or August, when the new 2012 Outbacks come out.

Sulu

This happened to me in 1998. I had been leasing a 1995 Camry LE (Generation 3) since August 1995. The dealer called me in June 1998 with the pull-ahead offer. I traded it for a 1998 Camry LE (Generation 4) with no hassles.

I assumed that that the dealer had a customer actively looking for a clean, well-maintained Generation 3 Camry, since the Generation 4 Camry had not been on the market very long at that time. My Camry was serviced religiously at that dealer so they knew its history.

laketuna

Hm, perhaps the dealership is just trying to make a quick sell with my SC. Nothing appeals to me particularly at Lexus at the moment however..

msgs350

iTrader: (2)

I think they are trying to sell you a car before you can think about another brand. I see posters in my Lexus dealership (Service area) saying that they are looking for "well cared" Lexus, hoping to get you to trade your car in for a new/used one. I find it funny because i think it's a sales tactic.

laketuna

Then they are doing they're business quite right because I am about 1 month into thinking about what kind of car to get next year.

msgs350

iTrader: (2)

Yes, they are. Hopefully you will come out with a great deal on a new car. I agree with you though, nothing at Lexus right now excites me. I'm in a GS350 AWD and have no other interest in another Lexus car at the moment.

laketuna

I don't know what happened to the SUV line at Lexus. I used to like them a lot, but none of the latest ones appeal to me anymore. They are too bulky or something. It's hard to explain.

msgs350

iTrader: (2)

the only car i would consider is a LS460 AWD (Pacific NW climate) with air ride, if that's even available. Reason is so i can get the module for lowering and get wheels for it. At this time, being a single guy with no kids and rarely take passengers in the back seats, i just don't need it. I just think it looks nice and fancy. Good luck with your search....let us know what you get?

Fizzboy7

This offer has been all over the place for years and is total BS. Don't fall for it. It's a tactic to get you to lease/buy again, give them more of your money, and have a chance to sell your current car again to someone else. It's just another form of typical hidden (dishonest) advertising. With every car I've leased since the mid 90's, I've gotten the same frantic letter in the mail claiming my dealer is short on cars and will give me a special price for mine. Truth is, ANYONE CAN GET THIS PRICE if they worked at it. It is nothing special or unique to you. They word it like you are special so you will want to come in and investigate. Then when you arrive, you learn there's no special bonus other than the same specials anyone else can get (If they do offer you a money discount, it's IN PLACE of giving you a discount elsewhere in the deal. It's one or the other, not something extra for you). It's just another twist on how they are offering a sale to attract customers. Only additional manufacturer rebates and incentives coupled with good old-fashioned bargaining with the dealer will yield worthwhile money savings.

msgs350

iTrader: (2)

Yeah, I laugh when I get letters from Infiniti recently saying they want my 2006 G35 cuz there is a shortage!!! Hahahaha

Infra

iTrader: (1)

There is a shortage.... of well cared-for used cars that they can make a lot of money reselling.