Question for you guys, is there banks or lenders out there that will provide a custom lease for a car. Example, Lexus will not offer leasing on a 2019 GSF or a CPO, is there other companies or lenders that will? I remember a site leasecompare years ago would offer different rates, etc..

Just curious if there are options out there,, especially if a car is discontinued and a new model is not offered. Thanks!

 

Captive financing/leasing is the last one before normal leasing methods run out. At that point its gonna be a loan/purchase or some random third party that caters to exotic vehicles.

 

thanks, have you used them before?

 

Just to be clear, captive financing is Lexus Financial Services (LFS). If your interested in a GSF, and LFS has pulled support on their 2019s then your only option would be some random 3p company (have no experience) or buying it outright. I would think LFS would still offer support on EOL MY20 GSFs

 

Many banks and credit unions are able to offer leases. But you'll find that they're typically more expensive than anything that might have been offered through a captive finance company.

 

What are banks going to do with these vehicles once the lease is up, and the vehicle is returned? Banks are not dealerships, where they can service/detail/repair the vehicle, if necessary, to get it ready for re-sale. In the past, auctions were often held to get rid of vehicles like that, but I don't hear of them much in my area anymore.

 

Depends:
Lease out a tacoma or high residual/low depreciation unit and basically they`ll have equity in them at lease end.

Lease out volume sellers like the camry or other models and they end up being a nice statistic or data point to showcase.

Either way cannot complain when noncaptive banks offer mind boggling leases...US Bank

 

Banks do what the captive banks do, they can offer them directly to dealers and there are huge auction houses that still operate today and are largely efficient means for banks and dealers of all sizes to move used vehicles around. And plenty of service providers that work with the auction companies for minor/major reconditioning needs. Dealerships aren't the only places that can do those functions.

 

As mentioned, third party leasing will likely cost the lessee more. One way they do this is by having a lower residual value (resulting in higher payment), which protects them to some extent against declining value at end of lease.

 

There are, but the terms are terrible compared to the captive financing arms of the manufacturer.

Only way they make sense is for corporate open ended leases and things like that.

 

Thanks guys, appreciate all the feedback here.