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Hi from Delray Beach Florida!
I currently lease a 2018 Lexus IS 300 Base RWD. With help from this forum, I was pleased with the deal I signed on June 4, 2018 - 36 mos./30,000 miles, $0 DAS, monthly payment with tax is $384.15. At the time, there was $5000 lease cash available from Lexus.
I never thought of trading early until I just read posts regarding the push to liquidate remaining 2020 inventory with at least $5000 lease cash and possibly other incentives. People in similar situations have signed in October 2020 IS 300 F Sport for the exact same payment and terms that I currently have with my '18 IS 300 base. Upgrading to the IS 300 RWD F Sport is the only way I would do the deal.
I know that I am almost out of time. The only 2020 IS 300 F Sport I could find is 75 miles away. I would like to prepare and submit an offer ASAP but I don’t know how to do that as a current leaseholder vs. a new deal offer.
Can anyone help? FAST! Thank you in advance.
How much positive equity do you need to have the deal you want? Or do you need any positive equity at all?
Fill the calculator and let’s see.
Go online to Carvana and Vroom and get offers on your current car. Takes 5 mins. This will give you a good idea of the trade in value. Compare that to your current payoff from Lexus Financial.
As mentioned above, you need to understand how much negative or positive equity you may have before doing anything.
If you’re at least breakeven on the trade, then just email the dealer, have them run you a quote on the new car, and just tell them you might have a trade-in as well. Give them the VIN and miles etc. of your current car.
It goes without saying that you need to be researching other similar deals here to understand what’s truly a good deal structure for this make/model/month.
If you have any negative equity, then this will need to be rolled into the new lease, generally a horrible idea.
The car is worth 24k and I owe 23,457 on the car so I do have equity.
$23,457 - is this residual value of the car at the end of the lease or current pay off number received from Lexus Financial?
When asking for a quote, besides my VIN and mileage, should I include results from the calculator? I wish there was a form offer I could use. I’m weary of being gauged.
“Hi, I am interested in leasing your IS300 stock # 123456, VIN 123456789. If you can get to $XXX/mo with $XXX due at signing on a 36 month, 10k mile lease then I will come in today to sign. I will be trading in my current 2018 IS300, XXk miles, VIN 123456789.”
Then just see what they come back with…
Just re-checked Lexus Financial Website:
I submitted a message on the dealer’s website and now I’m waiting for a response. I actually sent this dealer a preliminary message yesterday expressing general interest. The response I got seemed system generated with an emphasis on calling or going to the dealership. Personally, I’d rather stick needles in my eyes than physically talk to a car salesman. My current lease deal I did 100% online with JM Lexus. I remember being surprised by the efficiency and speed at which my requests were addressed.
Thank you! We received your Lexus GS 350 inquiry. GS???!!!?
I am your complete buying resource - from information and test drive, to pricing and delivery. With the Lexus of Kendall Internet Department, you will have an online automotive buying experience like no other.
We can, we will ***. – [Experience Amazing]
e-commerce sales manager
LEXUS OF KENDALL
*****No return e-mail given. Reply to is from “eleadtrack”
I believe a 30 month lease over the 36 gives you the best incentive.
Don’t use the website, call and email.
Just sent three e-mails to a few different addresses I found NOT on their website. I’m trying to avoid a phone call but will have no choice given the time sensitivity. I just find it amusing that the manager of the Internet Sales Department does not provide contact information besides a phone number. I meannnn isn’t that the whole reason his position exists? LOL
How does that compare with your target deal? What about your trade, I don’t see that listed.
This is a copy of what my current deal was
OK, but is $385 sign and drive realistic on a new 2020 this month?
This is what I meant when I said you need to be researching other similar deals on here to know what’s the best case scenario deal structure.
Just telling the dealer you want $385 because that’s where you’re currently at is not a good strategy for a variety of reasons.