nightdiff

My lease on my rx 350 is expiring in July. When do you think I should make the trip to the dealer to get a new rx350 Lease? Should I wait until the last minute or go soon?

fastnoypi

It probably doesn't matter as long as you aren't too close to your max miles allotted. The dealer can always work out something by covering the remaining part of the lease and adjusting your new lease accordingly.

nightdiff

I'm about 5000 miles under the allotted amount. Can I use the low miles has lease equity in negotiations ?

CharmCtyIS

When I first leased my 2014 IS 350, the dealer contacted me a couple of months before the end of the lease and gave me a deal on a new 2015 IS 350. They did it again when that lease was coming to an end but this time I purchased a 2017 RX. I would definitely visit the dealer sooner rather than later and talk to them about your next vehicle if they haven't reached out to you already.

javapro

Lexus has a 3 month pull ahead program which means that they will reimburse the dealer for the last three months of your lease if you lease another Lexus also waiving the disposition fee. I used this program twice with no issues. Also, if you get out of your lease early, your miles are not prorated, so you will not be charged for extra miles as long as you are under the amount for your WHOLE lease. As far as equity for low miles goes, it all depends on your car's residual value which was set when you signed your contract. If your residual value (i.e. payoff amount) is too high compared to what the dealer can sell your car for, I don't think 5,000 miles will make a difference. Personally, when negotiating leases, since I am not planning to buy the car at the end of the lease, I just tell the dealer how much I want to pay a month and out of pocket initially (fees and taxes), and let them figure out how to make it happen.

nightdiff

Yeah I plan on Leasing the same vehicle from the same Lexus dealer and this is my third time in a row using the same dealer. it's just the new RX is a little more expensive than the old ones and I don't want to really pay more on a monthly basis. They sent me an email that offered me a new rx for 47$ more a month. How much you think I could lower that?

javapro

Usually what they send me in the mail was way higher than I was willing to pay. As always you need to shop around and push them to the edge. Just to give you an example: in my previous lease (2016 RX 350 $53K MSRP) I was paying $540 a month with $1,900 out pocket (fees, taxes, and first month payment) for 27 months/12K miles a year. The dealership I leased from the last time sent me an offer of $70 more (i.e. $540 + $70) for 2018 RX 350 with lower MSPR (I think it was around $52K). I went to another dealership and was able to get a much better deal. So, currently I am leasing a 2018 RX 450h ($55K MSRP) for $577 a month with $1,900 out pocket (fees, taxes, and first month payment) for 36 months/12K miles a year.

nightdiff

Thanks for the info. So you think going to the same dealer does not create a loyalty discount?

javapro

You can try and see. I ended up going to different dealers because different ones had the car I wanted in stock and I was able to make a deal there.

johnhey

there is months factor here, your old lease was 27, new one is 36. for almost same MSRP, 27 months lease should be much higher.
I would say you got much better deal on your 2016 compare to 2018