My lexus RX 450 hL has only 17000 miles so far on a 10000/36 month lease, lease is ending in 3 months. Is it a good idea to buyout given the low miles? If yes, any way to buy out below the residual value?
Please let me know if any other information is needed.
Thanks for your valuable inputs.
The residual value is likely substantially less than the street value of your car. Get quotes from Carvana etc. Also, research how much dealers are asking for cars similar to yours.
Don’t think they will let you buyout below the RV.
If you have Cash pay them or finance it through your Bank. You can always sell it if you decide to go other Route.
Just sold my lexus to vroom. Process was pretty simple. First step is to find out your payoff amount under your Lexus FS account- look for lease end options section. Step two get quotes from places like carvana. I got better offers from vroom and auto lenders go.
So Lexus Financial allow you to sell at the RV or some mkt value of the car which is normally higher then RV.
Your payoff will be close to RV since you near lease end. If you get a quote from 3rd party then you’ll know the market value for your car and if it is above lexus buyout then you get to keep the difference. I had close to $3000 in positive equity.
Did you have the pay sales tax on the buyout?
I am in a similar situation with my lexus rx 350 l. Would you be able to tell how vroom handled sales tax in your situation.
Please don’t bring back dead posts to ask the same question you asked in other threads