How to Purchase Lexus at Lease End? Advice?

[UnicornHXNTR]

Can someone clarify, do these online dealers like vroom etc… pay you the difference if you sell to them

Or

Do you have to buyout lease first then sell to vroom etc…?

Looking for a bypass if one exists

[mllcb42]

Vroom doesn’t buy any leases. Other dealers can buy leases, depending on the bank.

[UnicornHXNTR]

When this happens can you pocket the difference without buying out the car from the LFS?

[forbs]

Yes, there is a thread in the Wiki section that details which companies allow that, and so far LFS and TFS do. Not many left btw. Most of the lenders have caught onto and prevented this.

[UnicornHXNTR]

Can you PM me the wiki thread?

So the only option is to get a quote first THEN buyout from LFS and flip the car to vroom etc…?

[forbs]

Won’t PM it as there will be other people who want it.
Here’s the LINK

Wiki Link for Lenders Who allow Sales

But you keep asking Vroom, they got out of the Lease Buyout game completely. They won’t buy any leased cars anymore. Carmax, Carvana, etc do but not Vroom.

Edit : Oh for LFS/TFS you don’t have to buyout, you can take the car right to Carmax and they will take it off your hands right there.

If you had say a Honda, then you have to buy it out and lose ~$2k for Taxes and stuff.

[UnicornHXNTR]

Looking to make a profit off my lease like OP since I have low miles on it and all others terms are same as OPS

[forbs]

@UnicornHXNTR

e I have low miles on it and all others terms are same as OPS

Then go on your computer (You are on one right now hehe) and get a quote from Carmax / Carvana / Algo / etc and see who will give you the best amount. After that look at your payout. If it is say more than 2000, sell it.

Of course you won’t have a car at that point, so unless you are getting over $5k like OP is , it might not be worth it.

[UnicornHXNTR]

So with the companies you mentioned I can bypass the LFS buyout and pocket the difference or still have to buy from LFS first ?

[forbs]

Bypass. they can bypass it. For now. TFS may change their mind in a week.

[UnicornHXNTR]

Got you thanks and I still pocket the difference if the bid is priced well right ? I get a separate check and TFS/LFS gets a separate check?

[forbs]

Yes you get a separate check, it might not be right away (as title has to change hands) but using a company like Carmax will mean they won’t cheat you or anything.
But it will say in the contract with Carmax how much you get and how much TFS gets

[UnicornHXNTR]

Sounds like a plan. Any experience with Lexus extending leases by a 6 months right now if bid is bad ?

[forbs]

@UnicornHXNTR

ses by a 6 months rig

YMMV , it really depends on them. Call them, that’s the only way to know.

[UnicornHXNTR]

Bmw stopped doing 6 month extensions now they only do 2 (:

Also did Lexus offer 0% for 60 months financing this December to remember which is still going on?

All I’m seeing is 1.9% aprs

[max_g]

@mrkool44

@wantingadeal

@max_g im going to disagree with you in this instance. Let’s use the following variables for my example:

Selling price: $60,000
RV after 36 months: $40,000
Loan Payment: $960 ($64k for 72 months)
Lease Payment: $700 after MSDs

$12,000 equity saved in both examples.

36 loan payments: $34,560
Balance after 36 months: $32,000
Total cost after $12k: $22,560
Total after $8k equity: $14,560

36 lease payments: $25,200
Total cost after $12k equity: $13,200

I just don’t know if an RX can be leased for $700/month with MSDs.

Was just stating if it were me, I would look into this scenario as well

The lease payment comes out to $980/mo for 2022 $58k MSRP Lexus RX350, no MSDs.

That kinda lease is a non-starter. Someone would have to be really dumb to take it.

[mrkool44]

Called Lexus Financial Svcs today.

They offered me a 6 month extension.
They also said I can purchase the car directly from LFS, without going to a dealer, if I am paying cash or using 3rd party financing (which I am).

So, looks like I can save the $1k dealer fee by just buying direct from LFS. No brainer there.

My plan now is to decide whether I want to buy a new $64,000 car or buy my current 2020 for roughly $39k. I am leaning towards just buying my current car, since that will result in the lower monthly payment. I realize I would lose out on the 12k equity offered by Vrooom, but then I will also have to fork over a large down payment if I go with a new 2022 $64k purchase.

[mrkool44]

@nyccarguy

I look at it this way. You’ve got 60 days to find a Lexus dealer with a car in stock that you want. I’d also shop that low mileage Lexus to a Lexus dealer for a buy bid. They’ll be salivating over it. Try Carvana, Carmax, or an Autonation dealer.

At the end of November I was able to get a 2022 RX350 AWD for 5% off sticker for my parents. I also sold their leased 2020 Lexus RX350 AWD with a buyout of 31K+ to the Lexus dealer for $42K.

I thought about this and then wondered if buying a new 2022 is worth if, from a financial standpoint. I’m not so sure. I love the current 2020 and its got only 10k miles. Im happy with the car as is.

My 2020 is fully loaded, $60k MSRP, I would want an equal 2022 model, roughly $60K MSRP today. Assuming I get same 5% off, I’m at $57,000 + tax+ fees, brings me to $63,000 new car loan.

If you “credit” the $12,000 from sale of my 2020, we can say the 2022 cost me $51,000.

My current car payoff is $42,000 including tax. So payment $750/mo.

The 2022 car loan would be $51,000 including tax. Payment $900/mo.

Even AFTER taking into account the $12k credit, my monthly cost goes up by $150/mo.

Plus: the big depreciation hit on 2020 is already taken. So, I will incur less depreciation on the 2020, than on the 2022 - for which the big depreciation hit will come in year 1.

So, this leads me to think buying my current lease is the best, from a financial standpoint.

[forbs]

If you plan to buy, look into Lightstream and Penfed, both have good used car loans.

[mrkool44]

thanks - ive done multiple loans with PenFed and currently have a auto loan with them.