Stiebertw

Found a '13 and '14 LX570 for 59k and 62k, obviously can't afford a brand new one. Has anyone ever leased a CPO vehicle from Lexus, the 13' has everything we want. My thought is if we leased it for 4 years, by the time the term is up we could buy it out, plus I would only have to put down 2500 vs. 10k financing a used one (11'). Thanks

hankinid

Both, to me, are high mileage...the '13 at 20K per year, and the '14 at ~30K annually.

I'm not you, so take this for what it's worth. I'm looking at a '10 with <40K for <$50...more $$ up front, but I'm better off with a purchase, imo, than a lease. When I had a business putting 40K per year on a Suburban, leasing made sense, as I wrote off 80% of the truck's expenses.

I don't see the CPO, per se, as any better than a truck with similar mileage and maintenance that's a non-CPO. You might try a new tack with a non-Lexus dealer, including independent lots.

Good luck.

Steve

sick21

You want to lease a 7 year old vehicle for 4 years?

Ratchey

They want $59K for a 2013? KBB for one with no options is $30-$34K. I think your dealer is taking you for a ride.
I leased a 2018 GS350 and will never lease a car again. I think if you run the numbers on the cost of the lease and buyout vs financing one, you will be shocked at how much more it will cost you. Especially a 4 year lease.

hankinid

Leasing can help in two ways...

If you can write off the lease payments as a valid business expense, write it off; but check with your CPA first.

If you can't afford monthly payments, a lease can put you in a better truck v. what you'd pay over the course of a loan. Otoh, you'll have no equity in the truck, so you won't keep it once the lease is over. IMO, a major waste of money.

sick21

That's why its cheaper to lease. Predicting the value higher than it is is good for leasing, not good for wanting to buy it out. I leased my 2014 GS and it was significantly cheaper + tax benefits..

Mikerx80

iTrader: (3)

Why so much for the vehicles? Even if it’s CPO that is really expensive for those years and you are approaching 2016 facelift model territory. You should be able to find one in great condition for those years in high 30’s to low 40’s. That should provide you more buying power as the vehicle will be cheaper and much less principal balance to finance. CPO is good but these trucks are made bulletproof. As long as you get proper pre-inspection you will be fine without it. Low mileage with no rust on the undercarriage will take some time to find, it did for me. Just be patient, if you can wait it out. This way you won’t need to go through the whole hassle and waste of money of going through a lease then to purchase scenario. GL

hankinid

Word. Find an independent shop with Toyota/Lexus expertise for the pre-purchase inspection. No skin off dealer's tail if the CPO inspection misses something. You're looking at ~ $100-150...imo cheap insurance.

Ask the dealer service dept. for a print out of service history for the truck, or log onto Lexus.com, go to the owner's section, and fill in the VIN. You'll get a service history prior to purchase.

DarKnight

iTrader: (3)

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