Lexus getting out of lease early help needed

Hi All,
I have 3 months left and am thinking of buying a CPO Porsche Cayenne instead. I found the car I want, but Porsche cant do the deal as on top of the little discount they already gave me, they don’t have room to cover 3 Lexus payments. I have 3 payments of $486 left.

Does anyone know if I return it to Lexus earlier will I only be responsible for the 3 $486 payments and disposition fees or there would also be some large termination fee? Also the car that I am returning was in a car accident (fully fixed by authorized Lexus collision dealer Lexus referred us to) . Would I have more issues returning this car earlier with the fact that the car had accident in the past? Right now there is no dents or scratches or any issues with car.

Thanks so much!

I would call lexus financial and ask. Most likely it will just be the three outstanding payments and dispo fees.

You will have to pay the total of

  1. last 3 payments
  2. $350 dispostion fee
  3. if you didnt have excess wear n tear, make sure tires are good enough they dont bang u other wise replacement cost.

I have very little miles (only 11,500) and all tires are fine.
My biggest concern is it says in contract that they might have a termination fee adjusted to difference between “adjusted lease balance” and “fair market value”. Woudn’t the “fair market value” be now a low lower due to the accident in the past?

If you had the damage repaired at the facility Lexus recommended, I don’t see how it would be possible that the fair market value would be lowered. The residual would be the same as set in the contract. You will owe the remaining payments and disposition fee as well as any excess wear and tear. That will not include the damage from the accident as it was repaired. Lexus has a guide online in case you have any large scratches, dents, tire wear, etc. that will let you know what is and is not acceptable when the vehicle is returned.

Hi All,
Thanks for your responses. I went to lexus financial site and they are not giving me an option there to bring car in earlier (I tried calling, but they are off today). The only options they display is if I want to buy off the car with one lump sum.

From what I understand all of you saying I don’t need to buy it off to try to sell it , I can just pay 3 months and disposition fee and any wear and tear (which there none of) and that’s it hopefully?I Just hope that doing it 3 months earlier will not lead to thousands of dollars in fees (again returning car low miles and no wear/tear issues).

At that point why not keep the car for the last three months regardless. You’re paying the same amount but will no longer have the car.


HI All,
Do you know if GAP insurance automatically included with all Lexus Financial contracts? I believe the dealer said yes, but not 100% sure.


Yes it is. Check your contract. On leases, GAP is added by default.

Yes, it is included with LFS, but not TFS.

Jon i swapaleased my sisters IS last year. Even though the statement says LFS, the lease transfer paperwork said TFS. Maybe the TFS rule is for Toyota leases only?

Yes, that’s what I meant. Lexus comes with GAP, Toyota does not.

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Ah thanks for the clarification

I am returning my car 3 month earlier to get another car (non Lexus). I know that I am going to pay 3 months and disposition fee. My question is. In contract it states for early termination I would also have:
““early termination charges equal to difference in “adjusted lease balance” and “fair market value””.”

My car was in accident, but repaired by Authorized Lexus dealer . Does anyone know if this early termination fee will effect me in a negative way as the car is now worth a lot less due to accident or the GAP should cover it?

GAP does not cover it as it only applies to situations where the car is totaled.

If you are so scared of being charged extras, why not just take @JustinK’s advise and park the car for another 3 months? You are making those 3 payments either way.

Just make sure it’s processed as an early return (you pay remaining payments and disposition) and not an early termination (you pay delta between balance and auction value).

First you can schedule an inspection 60 days prior to the lease return. Once the inspection is completed you will know exactly what needed to be fixed to meet their standard.

Secondly, the accident wont affect the return as you already fixed it.

And last, I would sugest that you wait until the marturity day to return do they wont give you problem with the “early termination” which they might give you trouble. The only con is you still need to pay for insurance until then…

I still don’t understand why OP can’t just keep the Lexus for 3 more months, especially he is willing to finish the payment. It is much simpler thing to do.

Maybe they only have 1 parking space where they live, maybe they don’t want to pay insurance on 2 cars when they will be driving only 1. Logic doesn’t always come into decision making.

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