My wife’s a 2020 Lexus RX350 that we leased through Lexus Financial Services. It’s a 36 month, 45k lease that is up in August. Due to covid and no only having to commute to work 1 day a week, it only has 21k miles on it. At most it’ll have 25k at the end of the lease.
She loves the car, it’s the third Lexus she’s driven. But I am trying to think of our best options at the end of the lease. The dealership has already called asking if we want to put in an order for another one. RX350 stock is still pretty low. The residual value is 28k.
We are considering just buying it. It’s a low mileage car and may be one that she keeps for 4-5 more years.
Used car prices are coming down, but there is likely at least 10k equity in the car. I’m wondering if makes sense to buy it and then sell it and then get into a new lease with zero down.
Thoughts?