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Questions about leasing

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Old Jan 17, 2015 | 04:09 PM
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Default Questions about leasing

So I am leasing my 2015 RX350

I have 1 more year left to hit 30,000miles

but I am afraid I am going to go over it by 5 to 8,000 miles.

Are there options or tricks other then paying the penlites?
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Old Jan 17, 2015 | 05:48 PM
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There's a dedicated thread in Car Chat that you can read through or post in: https://www.clublexus.com/forums/car...nd-buying.html

Typically, what I would do close to the return date is get the car evaluated as a trade in (even though you are leasing it) to see if it still is higher than the buyout. If it's higher or equal, you're in good shape. If it's lower, the difference may still be cheaper than having to pay the cost per mile extra (would be on your lease agreement).

Good luck.
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Old Jan 19, 2015 | 06:44 PM
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If you want to lease another one, I would bring it in when you hit the maximum miles in the lease and see if you can lease another close to the same payment. If you like the car just buy it at the end of the lease. If not take it to carmax and see what they would give you if they bought it after you paid off the lease and bought it for the residual.
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Old Jan 21, 2015 | 12:53 PM
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When nearing the limit call your dealer. They actually sell the car to Lexus Financial who in turn leases it to you.
Dealer gets his/hers & they get to service it too. Service & warranty issues can be very lucrative.
The dealer, if sharp, will never turn down another sale. Make a deal on the $ value for the extra miles, negotiate on the new one, $$ service history at the dealer, lots of options.
Usually you can pre-purchase extra miles going into a lease at a fixed rate per mile. Turn it in under the maximum & they will refund the miles at a reduced rate.
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