Hey guys sorry if this is in the wrong section but I have a leased 2016 IS300 F Sport and got a letter from a local dealer looking to buy back 50 Lexus'. The letter says they will buy it back up to 20% of it's book value and they are also giving $5000 Lexus Loyalty Cash and 0% APR on a new vehicle. Has anyone had any experience with something like this? My car has some damage (dent above driver side fender, curbed/bent rims) and I have 10 months left on this lease and really want to get a significantly lower monthly payment. This was also my first car lease and I've read stories about people returning cars without having the lease company coming to do an inspection and what not. I really don't want to get ****ed by the dealer and have to pay for the next 10 months on this car along with paying for damage and a new lease. Any info is greatly appreciated!

 

This is just a sales tool to get you into the dealership.

 

Similar situation as you with about ten months left as well, and I got the same letter from two different dealerships. Don't really want to get another 3is, because I see it as a lateral move. While the subtle improvements from 2016 to 17+ are nice, it's just not enough for me. Holding out hope for some significant changes in the 4is (TT V6). Not sure what I'll do in the interim. Probably an RX or NX

 

They're just trying to get you to trade up. They will give you UP to 20% above book (could be next to nothing after they account for your damage). And it's AS LOW AS 0% APR (how long is the term in order to get 0%?). And again UP TO $5,000 in loyalty cash....could be much lower, and they basically won't discount any new purchase as much as they would have. You are not going to come out ahead with this any more so than going in to look at an early trade in.

 

I remember getting these for my car a year or so ago and I was financing the car. Like the others mentioned, given the urgent tone of the letters, I assumed it was a sales technique to get me into the dealership.

 

They urgently need your money!