Lease takeover a good idea or not?

I found a 2015 Lexus RC F with 20 months left on the lease. MSRP is just over $75k. Payment is $642/month including tax. It comes with $7500 in “Lexus Platinum Coverage” (scratch and dent repair plus tire and wheel coverage) and the maintenance is prepaid for the entire lease. Remaining miles amount to about 27k. It’s in another state so I have to pay the transport of about $500.

How does that look?

Where did you find the lease at how are you going to transport that? How does that work.

On swapalease. I just get quotes from auto transport companies, give them the general time frame for pickup, then they let me know the exact pickup date, load it on an open transport, and drop it off in my driveway.

Do you have to return it to the same place once the lease is up?

No. I can return it to any Lexus dealership. There is one 10 minutes away from me.

I myself have pondered this scenario. Sorry to hijack, but If the original owner put down MSD’s, I’m assuming those will be transferred to the new owner? Or will the respective financial company refund the MSD’s to the original owner, and recalculate the new owners payments if the lower MF is no longer without the MSD’s.

Is that a Lexus thing? Or do most manufacturers do the same thing.

But back to your OP. Seems like a good deal Using the 1% rule.

1 Like

I think all manufacturers let you do this, but I may be mistaken. One of the major negatives would be if one returned a Challenger Hellcat to a Dodge dealership in Alaska- extreme case I know, but how long do you think that car will sit for? So I’m assuming every manufacturer participates in this practice, within a reasonable/regional area. Hopefully somone with better knowledge can clarify.

Yes, most manufacturers allow it, but the rules are different for each one. For instance, I was looking at a Cadillac ATS-V takeover, but the car was in Florida and GM will only allow transfers within the same state. Lexus allows them to transfer to a different state.

@Bilious, i assume it’s this car:

I dont recall which thread it was but i recently replied to someone about this topic and wrote in detail about the issues with Lexus financial lease transfers. Maybe you can do a search on this forum. Basically Lexus lease transfer takes a long time with no updates given and you might not even get it at the end.

The good thing is that given the monthly payment, the guy probably put a ton of $ down and it appears he doesn’t care to loose it because he’s not asking to recoup any of it. You do need to find out if he paid any MSDs because that’s a tricky subject.

On a side note, you do have the option with Lexus to extend a lease for 6 months at the same payment, so if you like the car you could keep driving it for another 6 months. Just a thought, it all depends on the miles driven and warranty coverage too. You’d have to do your research.

I personally have had great experiences with lease transfers on the BMW side, but i saw the hell my friend went through with Lexus so keep that in mind. See if you can find my posts about the subject.

1 Like

i found my previous post about this subject (toyota and lexus have pretty much the same transfer process):

Thank you. I’ll take a look and verify the MSD question. I’m also going to call Lexus Financial and get as much info as possible. That is the car I’ve been talking about.

@Bilious btw…i would feel out the seller if he’s willing to pay or at least split the transport cost, tell him you still have to pay the disposition fee, transfer fee etc. Doesn’t hurt to ask. The car is located in DE, not exactly a hot market to get rid of a car.

@Bilious when you speak to Lexus Financial, have them explain to you the lease return process, inspection in particular. I can tell you from experience that they inspect the car a lot more closely with Lexus than with BMW. BMW is pretty good about damage and let you get away with a lot more than Lexus. But it would be a good question to ask them since you’re new to this.

Not saying this to scare you out of it, just to let you know ahead of time so you can prepare and go into this with as much knowledge as possible.

Thank you. That’s exactly the kind of information I was looking for. I will ask about splitting the cost. The good news is, I have my 335i until May 5th, so I have some time to get through the process if it does stall. I do take very good of my cars, and treat them as if I own them. I even follow the break in instructions, because I don’t want to be that asshat who hoons the car with 10 miles on it just because I know someone else is going to get stuck with it at the end of my lease.

Yes, the Lexus looks like a solid deal :slight_smile:

1 Like

It was mentioned this lease has platinum scratch and dent protection. So maybe you would be ok with a few scratches lol!!

@vhooloo is right , the protection plan should take care of most damage, I completely overlooked it.

@Bilious make sure you pull a car fax and/or have it inspected to ensure that this car didn’t have an accident

1 Like

I would look into taxes, it might end up costing you a significant amount. Just because the $642 a month includes taxes in his state it could mean nothing to your state.