Jason350F

Has anyone tried getting prices from dealerships to buyout your current lease? If so, what have you been getting offered? Since the market is low, a lot of places are buying out current leases almost at MSRP.


As of 8/1/2021 Lexus Financial will no longer allow third party lease buyouts. This seems to be the ongoing trend with a lot of manufacturers.

I’m trying to get an idea of what to expect. Especially since the is500 is coming out and it looks like you can start ordering them in August.

V350

Wait, so they won't let you purchase the car through a bank?!

Jason350F

I’m not sure of the exact terms are. But I do believe that they will let you buy it through another bank, plus the taxes and wait for weeks for a title.

If you wanted another dealership to buy out your lease then you wouldn’t pay the taxes of the buy out. What they mean as third party is that no other dealership is allowed to buyout the lease unless it’s a Toyota or Lexus dealership.

So now when your lease is expiring you either have to go back to Lexus and return the car and potentially pay for the wear and tear plus disposition fee if you were looking to get into another manufacturer or negotiate another deal and stick with Lexus.

I hope this makes sense.

E46CT

Here's what I'd do. Get a quote from Vroom or Carvana and ask your local Lexus dealer to match it. They might play ball if you get another car from them or get close to it. My local Lexus dealer bought out my lease and turned around and sold me another Lexus. They got really close to my Vroom quote which I was OK with because Vroom is a major PITA to work with.

I know Volvo, Ford, Mazda have long ago blocked third-party buyouts. I guess TFS and LFS are now opting out as well. Not sure how they retroactively apply that to a contract but I guess. I'm pretty certain they'll allow a buyout if you get a new Lexus though... keeps you in the fold & gives their dealers used inventory for CPO sales potential.

MX73

My local dealer won't match Carvana's price. I guess it depends on the dealer.

Wow, If this is true about the 3rd party buyout, I'm glad I sold my car to Carvana a few months ago.

Jason350F

I read on another forum that vroom (I think) backed out of their deal and said they won’t be able to buy their Lexus because of the non 3rd party buyout. So I’m guessing it all depends on how fast someone can transfer the deal at this point.

buggies765

I just got off the phone with Lexis/ Toyota financial and they are allowing third party buyouts/payoffs. The third-party dealership can call LEXUS Financial with you and they will give them a buyout/payoff over the phone or they will email you a buy out/payoff quote. The agent also made a suggestion that some of the dealerships would like the cars back for their used car sales lot so a Lexus dealership may also buy the car from you without you getting another car from them.