Buyout Lexus lease through Lexus dealership or through Carvana?

Ask the Hackrs
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23

Still cant believe an IS has a 21k payoff. obviously given geography, it’s probably a low msrp RWD, but still…

25

Or maybe a gigantic down payment? With typical Lexus residuals, I don’t think even a low-optioned IS would end up in that buyout territory within a normal lease period.

26

wouldn’t be relevant. payoff is rv at lease end. DP has nothing to do with it.

27

Then something else is very off, or OP is mistaken about the numbers. Carvana isn’t paying $37k for a 2-3 year old base IS, when there are a bunch of IS300’s listed in the $28-$31k range on their site. And what could the RV on this lease have been to make sense here…40%?

28

that’s exactly what i’m saying. this doesn’t add up. obviously, a 3 year old IS is in the money, but not like this.

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29

$37,000 or $30,700?

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30

$36,997.00 to be exact.

31

Wow. This is insane. 3 years old car with price of a brand new unit. Good luck.
Just curious why You did not comment @aronchi post about Your payoff. Doesn’t hurt to show a contract with model spec and residual value. It will cut all speculations.

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32

Right, I think the natural skepticism here is only coming from this example defying the delta of every other Carvana deal here, Carvana’s own pricing on its site, and all logic… :rofl:

For a reference point, the most expensive Carvana-owned IS300 on their site currently is a 2020 IS with 7k miles for just under $39k (which they almost certainly did not pay even $37k for). Most are in the $30-$35k range. So if the Carvana quote is to be believed, this is probably a very, very well equipped IS that shouldn’t have a buyout that low.

33

I agree, it seems almost too good to be true, but we’re going to press on with it. We put 5,500 down and there are only 7,100 mi on the car. IDK

34

I agree, seems almost too good to be true, but we’re going to press on with it. We put $5,500 down and there are only 7,100 mi on the car

35

7k miles is pretty low, so that partially explains their offer I guess. What year is it? The $21k buyout still doesn’t make sense either.

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36

Down payment doesn’t affect RV at all. What was the MSRP of your IS300 and the RV in your contract?

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37

it is a 2019

38

this may be is making sense now. $21K buyout and ~$6K down payment . So overall, OP will net $37k-$21K-$6k. Close to $10K. Not bad.

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39

The down payment does not effect the residual value.

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40

If you got it in late 2018 and you had, say, a residual in the low 50% range on a 3 year lease, then I guess the $21k buyout on a spec with original MSRP of around $40k is possible.

Still absurd for Carvana to be paying that much, even with the low mileage. But hey, take the offer and run! Sounds like you might basically be getting back what you spent on it over the course of the lease.

41

i agree but OP has already lost down-payment once he paid to dealer at start of the lease, right? I am just calculating how much OP is gonna net.

42

At the end of the lease, it doesn’t matter. It would have either been paid as part of the payments or upfront as a down payment. If you’re going to count the DP in your calculations, you must also count every single payment made.

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43

yeah, i get it now. :slight_smile:

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