GreyCT

hi Everyone,

I live in Toronto, Canada. and has been looking at the new IS 350 F sport AWD (coz of the snow we have in winter). But I have a situation here, so hoping I could get some suggestion here on the forum.

I am currently leasing a CT200h, When I leased this vehicle, I have $8,000 trade in, and another $4,500 security deposit to reduce the interest rate, and my lease ends in December 2015. Just wondering if anyone here have experience something like this before.
My ideal plan is to return my CT to Lexus, but I can get back the security deposite, and use this security deposite as a down payment toward the new IS350 F.

another question is, does anyone know if there are any bargain for the new IS now? or because of the high demand, there won't be any. If that the case, should I wait until next year to do so?

if anyone has any suggestion, please advise here.

Thanks so much

grondie

Call and get the payoff on the CT like you would on a financed car, and if the numbers works, just trade it in. It'll then be paid off and you'll get your deposit back.

CraLunzy

Just picked up my is350 AWD atomic silver/red package H this afternoon. I live in Vancouver so I am not sure the demand and supply in YYZ. But here is my deal, $1000 discount, waived doc fee, $300 friend referral, and free cargo liner and net. Hope this helps

jdot85

Which dealership did you get your car from? Was it a special order?

CraLunzy

Regency Lexus Burrard and 2nd. It wasn't a special order, at first I ordered the G package, delivery date end of November. But they had one in stock with H package, I couldn't wait any more longer so.... what the heck, only 2400 more.

enoren

It depends on your leasing company. You have 24+ months left on your lease and most payoffs will include all 24 months of payments. They're not like loans where you have a current principal amount. Leases are a commitment to make certain payments.

The exception I've found in the U.S. is some credit unions that will treat a lease like a loan. In those cases, they will give you a principal payoff amount. Your first step is to talk to the leasing company and find out if they'll help you get out of the lease.

GreyCT

I think the leasing company is actually Toyota Finance Canada.

JGard18

I just traded in my Tundra which I leased back in January of this year. Needless to say I had a long way to go on it, but Toyota Financial did list a payoff amount and the dealership offered me a trade-in value only $1,000 below the payoff.

however, the money I put down on the Tundra was lost. Not sure how that'll work in your case.

corradoMR2

I was in the same boat as you.

I traded my '11 CT 27 months into a 48 month lease for the IS at a west GTA Lexus dealer. They give you a trade-in value and compare it to your buyout of the leased vehicle. In my case, my trade-in value was actually 1K higher than the lease buyout thanks to the car being in mint condition and I had very low mileage (32K km) with a similar initial down payment as you. They also gave me an additional 750$ off the IS when I signed back in early June. So all-in-all, was a good deal for me. You might be in a similar situation and it looks like you can at least break even or have a little cash down. You will also get back the $4.5K security deposit to use on the IS whichever way you like, or just keep it.

Send me a private message if you like to continue this in further detail.

GreyCT

hi all,

Just went back to my dealer ship, and they said they can take back the CT without any penalties, so I will be getting all my security deposite back. and on top I just need to take out $2k from my pocket to get the monthly payment to where I am comfortable with. So i think i may be getting the 3IS soon.

ps: they give around 1.5k off the msrp

chowner

So long for being the only guy having that color combo and exact same specs as yours! Enjoy the car, it's a beauty and I just love the atomic silver even color more day by day. I got the H package as well for my 350 AWD from the same dealiership. Whom did you deal with there? I got mine 2 months ago though

HIDPH

iTrader: (5)

That's a really good deal. I got mine from Regency Lexus and there wasn't much discount. Which salesperson did you deal with? You can send me a private message if you like

corradoMR2

That's great. Similar scenario with me on my CT. Sounds like you just need to sign and commit. What color/combo you want and is there a wait?

GreyCT

i am looking into Black exterior, and red interior.

They said there is one coming late october. so the wait is not long as long as i sign it. lol

corradoMR2

Obsidian/Rioja Red is a beauty. Was the color combo I was so close to getting. Good luck with the decision. The IS is a great car, superior in all ways to the CT, except for the obvious parking and fuel economy.