Should i End Lease?
Lexus Champion
Joined: Nov 2013
Posts: 13,260
Likes: 1,883
From: WA
Typically with Lexus Financial Services, at least in my experience, early release from a lease is only available if you purchase or lease another Lexus, so be sure to read the fine print.
The other way is through a purchase, so if the dealership is offering to BUY it from you for what is essentially the buyout plus the remaining payments minus the $1225, then that can likely be done without purchasing or leasing another car from them.
The other way is through a purchase, so if the dealership is offering to BUY it from you for what is essentially the buyout plus the remaining payments minus the $1225, then that can likely be done without purchasing or leasing another car from them.
Racer
Joined: Mar 2015
Posts: 1,631
Likes: 299
From: TX
I'm looking into selling my UX to Carvana just to break even. I wouldn't have to worry about a deposition fee or any upkeeps.
Thread Starter
Rookie
Joined: Sep 2017
Posts: 33
Likes: 1
From: ca
Carvana is like $2500 at today price, if I specify the two accidents that I have. Kelley Blue book is between $33,000 and $35,000 in "excellent condition"; it did not ask if car had accidents.
Thread Starter
Rookie
Joined: Sep 2017
Posts: 33
Likes: 1
From: ca
I agree! It is the two accidents that I can see will make it more difficult to sell. But again, the repairs were done so well that one can't even tell works have been done before. Anyway, I get what you are saying. Thanks!
Lexus Test Driver
Joined: Feb 2013
Posts: 5,822
Likes: 1,065
From: California
The UX has a really strong resale value surprisingly. My uncle just walked away from his lease with like 2 years left without paying a dime. Dealer gave him exactly the payoff amount on the LFS account. Carmax gave him a joke value for his UX however.
Instructor
Joined: Jun 2006
Posts: 1,016
Likes: 77
From: NJ
it's funny, I am looking at the same option, I have a 2018 GS with 24k miles on it, absolutely love the car, my lease ends in December and my buyout is only 24k. I was thinking of buying out and selling for a profit to get into a 2019 or 2020 GSF. I absolutely love the GS and to your point, being discontinued, they will hold value. I'm thinking on an 18 at the end of the year with putting really no miles on it based on working from home, I can probably get 32-33k for it, Fsport.
Pit Crew
Joined: Apr 2013
Posts: 183
Likes: 69
From: CA
Hi All,
Need your opinion/advise on this. I have the 2017 GS 350 F Sport, with Mark Levinson sound system. I have a 4 years lease with a $650 monthly payment, zero down, Lease will end this October 6, 2021. Buy off amount is $24,565(not including tax and other fees). I have only 26,500 miles on it. Car is in excellent condition; always garaged and my work has under ground parking, and i do all the maintenance on time. My dealer is willing to end the lease if i pay $1225. Is this a good deal? Should i take it?
OR the other option is to purchase it at end of lease and try to sell it myself.
One more thing, i have had two minor accidents on the car, but have been repaired by professionals, so you can't even tell where the accident it.
thank you!
Joe
Need your opinion/advise on this. I have the 2017 GS 350 F Sport, with Mark Levinson sound system. I have a 4 years lease with a $650 monthly payment, zero down, Lease will end this October 6, 2021. Buy off amount is $24,565(not including tax and other fees). I have only 26,500 miles on it. Car is in excellent condition; always garaged and my work has under ground parking, and i do all the maintenance on time. My dealer is willing to end the lease if i pay $1225. Is this a good deal? Should i take it?
OR the other option is to purchase it at end of lease and try to sell it myself.
One more thing, i have had two minor accidents on the car, but have been repaired by professionals, so you can't even tell where the accident it.
thank you!
Joe
Thread Starter
Rookie
Joined: Sep 2017
Posts: 33
Likes: 1
From: ca
If there were no accidents on it, then i will most definitely keep the lease and buy it off, and then sell it at a later time, and I know I can resale it for a good value. But because of the two accidents, and I am not really putting mileage on it, I am thinking it will save me a lot of headaches in the long run, if I were to end the lease and let dealer deals with it.
Thread Starter
Rookie
Joined: Sep 2017
Posts: 33
Likes: 1
From: ca
it's funny, I am looking at the same option, I have a 2018 GS with 24k miles on it, absolutely love the car, my lease ends in December and my buyout is only 24k. I was thinking of buying out and selling for a profit to get into a 2019 or 2020 GSF. I absolutely love the GS and to your point, being discontinued, they will hold value. I'm thinking on an 18 at the end of the year with putting really no miles on it based on working from home, I can probably get 32-33k for it, Fsport.
Lead Lap
Joined: Jun 2005
Posts: 642
Likes: 120
From: Texas
it's funny, I am looking at the same option, I have a 2018 GS with 24k miles on it, absolutely love the car, my lease ends in December and my buyout is only 24k. I was thinking of buying out and selling for a profit to get into a 2019 or 2020 GSF. I absolutely love the GS and to your point, being discontinued, they will hold value. I'm thinking on an 18 at the end of the year with putting really no miles on it based on working from home, I can probably get 32-33k for it, Fsport.
Instructor
Joined: Jun 2006
Posts: 1,016
Likes: 77
From: NJ
if yours is a "clean" title, then I say keep the lease and buyout. It is a great car. However, what is the total after you paid off remaining lease, plus the $24k buyout? Don't forget to add taxes on the $24k. Mine came out to be around $31K if I were to finish the 7 months lease and buyout at $24500. So, to sell for about $32k to $33K, you really not making much.
Instructor
Joined: Jun 2006
Posts: 1,016
Likes: 77
From: NJ
I wouldn't always assume a discontinued model will hold value. A mass produced sedan like the GS even less likely. I have seen cars drop pretty quickly in value after being discontinued when parts for them become hard to find and maintenance or repair starts to get more expensive.