Anyone have experience with backing out of a purchase? I did a lease on an NX on Saturday and moving from an RX, the NX feels much smaller and I feel like this was a bad decision. I want to go in this evening and talk to them about cancelling and moving to an RX lease. It's been three days. Thoughts?

 

If the dealer has not processed the title and paperwork yet there may be a chance, which means they would not have to take the car into their used inventory if it has not been titled. If it has been titled, the dealer will lose if they take it back so you'll have to trade it in at a loss.

 

It's been way too soon to make such a decision. It usually takes several weeks to adjust to any new car, whether you are moving up or down in size. I'd give it a chance. The NX is a nice overall package, more affordable, and more efficient. Best wishes.

 

True, one does not want to make an overly-rash decision, but the OP also has a point. As I've pointed out on Car Chat a number of times, IMO, the RX is a far nicer vehicle, even considering the difference in price. The difference in road manners and refinement is significant.

 

Totally agree with that. However, the OP was more concerned with the difference in size (not the things you and I both listed). I probably should have emphasized, the longer one drives and holds onto a new vehicle, the faster he/she gets used to the size.

 

My dad did this is 2016, not lease but purchase. I think what he did to make this possible, was he stated he would get the license plates himself, despite the dealership saying they would waive their fees for doing so (because they wanted him to drive off immediately). He also financed through the credit union and there was a draft FedEx'd to him, made out to the dealer, which was not in their hands. There was zero resistance to completely backing out, and even the CU canceled the loan, which online, had already showed like 6 days of interest. I actually thought the salesman was too nice, and wondered how he could survive in that business, not pushy at all.

Now I realize why car dealers are so against the customer bringing their own financing and why they always match, even if it's 1.9% etc.

now imho the RX is outdated (drove our friend's RX), and the NX is more modern. However, given the price, the NX is way overpriced. But I think it's like the X3 vs. X1. The X1 comes across as way nicer and better looking, but in reality is a FWD tiny car. In reality, the smaller fwd SUVs are easily 43k+ today, and the mid sized 55k+.

It would be interesting to see if any Lexus fwd based AWD product can transfer torque to the wheels that are slipping, on an incline, and move the vehicle. I doubt it since Toyota has failed this test before (we're not talking Land Cruiser or 4Runner, rather Highlander and Rav4).

But as far as NX vs. RX, it comes down to the $$$$. If you'll be spending more, why wouldn't the dealership redo the sale (lease)? Of course it would be beneficial to have a little more space. my .02

 

The RX is outdated and the NX is more modern? Huh? The RX is a newer model than the NX, the NX came out before the current RX.

You must have driven a previous generation RX.

 

You can always get out of a lease, you just have to pony up the remaining balance of the vehicle contract, which at this point will likely be substantially more than the trade in value they'd give you (so it's a negative equity position). That's a pretty sizable financial hit.

 

I'd hope they would be willing to work with you, for the chance of selling you a more expensive vehicle.

Please do a test drive of the two vehicles back to back and make sure you are okay with this change. For what it's worth, I have gotten an RX and NX as loaners before. While the RX was a nicer overall vehicle, I think for my taste the NX is something I'd rather drive daily due to its smaller size and better gas mileage. It's not exactly a cramped vehicle compared to its competitors anyhow. But, the RX would be nicer for highway trips and could hold more stuff. I'd give the NX a chance personally.

 

it's likely gonna cost you $$$$$

 

If you cannot back out of the lease (I'm not familiar with the state law in TX or your specific lease contract), you drive the car for a year (keep the mileage low) and then sell it to Carmax.

Personally, this is the best loss recouping strategy over trying to backpedal your way out of a lease with a dealership since they have all the leverage now (you don't like your car, you are legally binding by the contract,)

 

Provided you have a decent lease deal, you can do a lease swap, which is a relatively painless process which should not cost you anything. This is the best option since everything else is going to cost you big bucks in depreciation. I took over someone else's lease on a BMW i3 and it was very easy. Through BMWFS it only costs $500 to re-do the paperwork and titles etc. The old leaser was released from 100% of the responsibility, and I simply took over the same payment amount under a new contract that was simply under my name.

Hopefully you didn't put anything down, because we all know you should never put anything down on a lease, but even if you did, you can ask the new leaser to pay you your down payment since they will be benefiting off the lower payment at your expense. He/She will be subject to the same risk as you currently suffer however, of losing that down payment.

If you did a security deposit, the new leaser can pay you that deposit back, and he/she will get that deposit back from Lexus financial services at lease termination. Let me know if you have any questions, as I have been through this process already.

 

 

Clearly a bump and run--good topic for it. Nicely played, OP.