Hi yall.
I am in Texas and trying to trade in a 2016 Lexus Rx350 Fsport with 90k miles. I am getting about $20k for it. What’s your opinion on this deal?
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There are a few things to be wary about when buying a former rental.
It was likely driven harder than if it was owned which could lead to early issues with drive train components (transmission, etc).
Rental companies maintenance can vary; they might be inclined to do a quick-fix to keep the vehicle on the road.
Finally with low mileage it might have been in an accident.
I previously considered a former rental, the deal seemed great with around 10k miles. However, upon closer inspection the car had clearly been in an accident that wasn’t documented and would soon need brakes and some suspension work.
The deal may seem good but definitely have it closely inspected before making a decision.
You can probably lease this for about $1k a month with little due at signing. Trade/sell your Lexus, keep that cash and lease this thing. They depreciate MASSIVELY. If you can do a Luxe trim level, you can probably be in the $8xx/month with minimal DAS on a brand new one.
I leased a '23 QX80 @ $575/month, 18 months…it was definitely a lot of car for the money but there is no way I’d tie myself down to one for 6 years @ $1k/month with all that $$$ down.
I signed on Monday. Best I was able to do was 11.5% off of a Sensory and about 10-10.5% off of a Luxe.. Brokers on here have good deals; I was just able to do a little better locally, and I wanted a bench so I had more storage if needed since the space behind third row is a bit tight. If you’re willing to do max MSDs, you can get into the high 900s with tax on a Sensory and less on a Luxe. I cannot imagine dealers are being less aggressive as these continue to sit. I ended up at $976 with 9% monthly tax included for 36/10. I didn’t do 36/12 because you can buy more miles before lease end for $0.10, which is less than the cost to pay for the 2K miles per year during the lease term.
Thank you guys. I would do a lease on these, but it would be a family car. I take my kids on road trips all around Texas. Am I able to do 36/12 but have the price of the overage miles stated from the beginning? I dnt want to be under the assumption that it is .10/mile and then they charge me .25/mile. Also, id have to purchase protection plans for the windshield and dings. I take care of my vehicles, but Texas is pretty rough on cars!
If I am able to do $2k down. $900 > monthly, I’d do that!!
I am also willing to consider a Yukon Denali, Wagoneer, Navigator, 2025 Expedition or an Armada! I just need a large SUV!!
Yes you will know what the overage cost per mile will be. It will be in your lease contract.
There’s some other folks on here in the same boat as you. The true full size SUV market is pretty weak on leases. The QX80 seems to be the best candidate right now for leasing in that category.
For finance/buy, the Tahoe/Yukon is a solid choice if you can get a good discount. Aside from the recall on the 6.2, they’re generally reliable and cheap to maintain. And they have better resale compared to Ford/Lincoln or Jeep. The other one worth buying would be Sequoia, or if you can spend the extra money, a Lexus LX is always a good choice for purchase.
If you are cool with a crossover instead, your options increase dramatically for leasing.
What about other large family vehicle? A Buick Enclave, Chevy Traverse, Nissan Armada, Toyota Grand Highlander, Kia Carnival or Honda Odyssey. I just need a large vehicle, comfortable and but with some amenities like Ventilated seats and a decent stereo to play Disney music! I am waiting for Honda to redesign the Odyssey and get that for 7 years till the kids are bigger!
I’m at a Nissan dealer at the moment (service time for my Ariya) and checked the new Armada. I was impressed with how spacious the car is.
3rd row seems very comfortable for 2 adults/3 kids and there’s still a decent amount of trunk space with all 3 rows up, sot Suburban territory (but no other car really is).
The car can move 8 adults + some luggage (I’d guess 4 30" roller bags + stuff on top) with no problems. If you need more space you can always get a hitch cargo tray or a roof cargo box.
