and is just about to hit 20k miles (my lease is 10k per year) @ 426 a month. I can list the specifics if needed, but it was their beginning of the “december to remember” event, I did the full amount of MSD that I could, they paid the first payment, 0 down, etc…
I’m starting to get offers from Lexus Corp, the dealer I leased it from and competing dealerships.
So far the best offer is they want to pay off the last 3 months for me and give me a 3500 dollar check to use at their dealership (doesn’t say if that can be towards a lease or not, I assume it has to go towards buying)…
My question in this post is what do you leasehackr’s do when you get towards the end of a lease? How do you take full advantage of all the various offers?
I’ve thought about buying out the lease, but I’m pretty sure I didn’t really negotiate that part of the deal in a great way.
I’m here because I’d love to cut the payment in half and still get a decent lease. I can see that unless I go for a q50 or a volvo I’m not really going to do that… that’s okay, but will be on the look out for a great hack of a deal!!
You don’t negotiate the residual value. It is set by the bank. If you like the car, buy it. Lexuses are relatively problem free and will be a good car for years to come
My question in this post is what do you leasehackr’s do when you get towards the end of a lease? How do you take full advantage of all the various offers?
I’m not sure if this is a BMW specific thing as that’s where I heard about it, but I was able to find a dealer who was willing to certify my 335i by buying it out and then selling it back to me at less than residual. I had to pay for the certification process, but I came out at least even on the car and ended up with a CPO “warranty”.
Had the manual transmission go out a few months later so that worked out.
“Competing lexus dealer is hosting an Early lease termination event, This Key for key event will feature no early term fees and a straight lease for lease exchange”
“Records indicate you have less than 8 payments left on your current lease with a payment of 433 monthly” (I was off a little I guess)
“We would like to take in your current leased vehicle early regardless of make or model. we will waive your remaining monthly paments in exchange for a brand new lexus."
"Blazah we may be able to cover all your lease return costs.”
"Which means, no lease termination fees** No disposition fees** (Wtf is a disposition?) No charge for excess wear and tear** no over mileage fees** "
“We can usually exchange your vehicle for a brand new lexus with little or no money down**”
“Please call me at…phone number immediately to schedule a convenient appointment”
“Use the below voucher for up to $2500 towards your remaining monthly payments**”
And a “check” for 2500 is below.
the ** says “not in conjunction with the GBA offer of credit”
I also got this email from Lexus USA yesterday…
WALK INTO YOUR DEALER WITH THIS EMAIL AND YOU CAN EXPERIENCE AMAZING IN A NEW LEXUS.
If you lease or finance a new Lexus through a participating dealer and Lexus Financial Services,* we’ll waive up to three months of your remaining monthly payments on your current Lexus. Stop in to Lexus of my town before your last payment is due or by October 1, 2019 to redeem this offer.
The dealer offer is just a bunch of BS to get you into their dealership. They “may” offer you up to $2500, but will come up with reasons why you don’t qualify or maybe they would just roll that into your new lease.
Got it. So is there ever a position of power to take at this point? What’s a good way to approach end of lease when you fully plan on leasing again. I am not tied to lexus, All I would like is a nice car with lots of features, v6 or v8, no 2.0 turbo crap.
Shared this on another thread, but today I just sold my leased Durango RT to Carvana. Buyout was $27,8XX and they bought it for $31,7xx; I got a check for the difference of nearly $4k.
See what the kbb instant cash or Carvana appraisals are.
Have you checked what the car is worth now and what the residual is? It’s almost certainly not worth buying it and selling it on, but it’s worth checking.
I know you wrote you aren’t interested in 4 cylinders but if you’re looking for a good deal, a quality car, and perhaps a more agile sedan then you’d be nuts not to at least test drive the Alfa Giulia. I almost got one as a second car, but they’re great to drive and far better handling than anything in that price range.
I’ve seen this car all over the place on LH.com… but have never seen one in person. Is this a car that’s sold in the US? Maybe it looks better in person, but man… I don’t think I could take that front grill based on the pictures.
That’s more than a little funny given the Lexus front grill, I personally like both but I know some people go nuts with either love/hate. They sell Giulias in the US, can get them for lower than you’re paying now, and they offer a lot of bang per buck but if you don’t like the exterior you’re not going to like the car.
Other than that you’re either going to have to go down the muscle car route for something like a Charger, or the Infiniti Q50 RS for around the same money you’re paying now and have some performance. Mercs and BMW sedans will be more than you’re paying now for equivalent performance.
I suggest taking your car to Carmax/Carvana, etc. and getting an appraisal. If the car is worth more then what the RV is, you can sell it and make $ back. I would definitely look into that.
You can get good deals on 2017 and 2018 Giulias, depending on trim and options you can lease them for ~$350 p/m. They all have 280hp, even base models but they’re light and agile especially for a sedan so feel faster, Quadrofoglio will be waaaay more due to poor residual.
