PharoahHou

Hello Everyone,

This is my first post, and I'm hoping you all can help me with my first lease negotiation. I'm looking to get a CPO 2014 Lexus IS250 with low miles and realistically I would be comfortable with a payment under $300 and minimal down. Based on my conversation with the first dealership I spoke to, we discussed a 2014 IS 250 with 14k miles that was listed at 29k but the sales guy wouldn't really provide solid numbers for lease payment other than tell me that a payment in the $200s would be unattainable without putting up a ridiculous amount for cap cost reduction.(4-5k) Can anyone here help me understand how leases work? I feel like the payment I'm looking for can certainly work (Albeit with discounts on the listed price) but it seems like the sales people I spoke with are unwilling to even provide solid numbers with regard to residual, MMF, etc. Am I negotiating incorrectly?

kyoungjook

In my experience, dealers won't typically lease used cars. There may be rare instances where a lease was turned in VERY early (less than a year) or a car was a former service loaner. Otherwise, there isn't much incentive because the depreciation curve tends to level out a bit after the first couple of years. Also, when the car is returned, it will be a 6yr old car that they can no longer sell as CPO.

PharoahHou

They lease CPO vehicles, most of which have less than 20k miles on them.