Called LSF, they said they will consider it after I talked with a dealer and failed to reach a deal to replace my car. I was wondering if they just try to lure me in the dealership or it is really possible to extend the lease with LFS after the 4-years warranty finish ?
I want to extend for 6 more months since I can’t touch my credit at the moment to lease another car.
Call LSF and find out. The worst they can say is no.
You are very brave to extend past the warranty period. You are aware if something dies, such as the alternator, you can’t just turn the car in right?
I can just pay out of pocket for those stuff.
Call LFS ask what ? They already said they will consider it once I talk with dealer and fail to reach a deal. I have not heard LFS extend the lease after warranty expires. If this is another trick to pull me in the dealership, I will be better just buy the car right away.
Just tell LFS you tried and can’t reach a suitable deal at a dealer.
Talking with a dealer to get a new lease in today’s mkt will be horrible as compare to extending the lease or just Buy out the current lease. If you buy out you can buy extended warranty also for a piece of mind. Normally Lexus last longer as compare to other German cars.
Just tell the LFS you tried and it’s not working out with a dealer . Lexus do extend leases but you already have it for 48 months so not sure how many more months they can extend.
I have already extended twice. My original lease is for 36 months.
Huh, didn’t realize you can extend that much. I thought 6 months total is a max extension.
It seems they are open to consider another extention even more that 12 months… It is a surprise for me if they do however.
Very big surprise , because the RV goes way down after warranty expires.
It might make better financial sense to just purchase the vehicle from Lexus. You may be able to allow them to finance it for you. At least then you’d garner equity moving forward.
Hmm, I am not sure if I follow you. My plan is to see if they let me extend the lease for 6 more months then purchased it. I can do it right now but prefer not do it now since I can’t secure financing and have to pay cash.
I wouldn’t recommend wasting money on an “extended warranty” on a Lexus.
I’d bet if your up to date on your payments and payment history, they’d gladly finance it for you. Then down the road you could always sell or refinance if you get a better rate. It really doesn’t make sense to throw more money into your lease at this time.
I hear you, but I have to catch a bigger fish (i.e. house) with my financing power.
Why not ? Lexus does not break as often ?
If it’s about DTI, you’ll probably have lower payments on a purchase with Lexus as you’ll be able to extend the term out and have a lower rate. An asset is better than a lease on a financial statement.
hmmm, I am not sure about that. The remaining of the load for the lease is less than 1K. If I finance it the load remaining will be RV value which ~25K.
You mean 25K asset is better than 1K lease ? I don’t think so.
Doesn’t the mortgage application just assume you’ll replace the existing lease with a similar lease?