Lease end question Buy or just turn in - 2022 Lexus Rx350

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1

My lease on a 2022 RX350 is coming to an end in December 2024. I currently have 8 months remaining on the lease, with a monthly payment of around $650 and current mileage of 25,000 miles. Originally, the lease was for 30 months with a total mileage allowance of 10,000 miles per year (which translates to 833 miles per month).

I’m debating whether to turn the car in at the dealership when the lease ends or buy it out. I recently received a buyout offer for $38,000.

I’d appreciate any advice on the best course of action!

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2

What’s your current buyout without taxes?

3

Buyout is 38,000 if I buy by 4/10

4

Did you check the value of your car?

5

According to KBB 39,345 - 42,201 Range - Based on that should i just turn in>?

6

RX have had a pretty decent equity built in for the 2019 till 2021. Just not sure abt 22s as you may have leased yours at the peak. Not a bad idea to get quotes from autonation to make sure n decide.

7

Do you have an RX or an RC?

8

sorry RX350

9

So you may have a little equity if KBB range is correct, but that buyout may only be good for you or a Lexus dealer. What are you replacing it with?

10

This isn’t an offer though.

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11

You are out of allotted miles will need to pay the overage penalties if keep for 8 months and turn in

12

Autonation offer is 37500, so not worth it in my view I was thinking to just buy the car and keep it as i own it from 0 miles.