Hi - My Lexus lease concludes in a few weeks and I want to buy my car outright to just keep for myself. It is my understanding that in many states, I can request the payoff through Lexus Financial and just send them a check but LFS told me that in Florida I must work with a dealer to complete this process.
I have read many horror stories on Florida dealerships gouging customers during this process with unnecessary and bogus fees and was looking for some guidance from the experts on the best way to complete this transaction without getting ripped off.
Should I shop around different dealers to see who wont charge extra fees? Are any fees legit? How much extra in charges should I expect? Is it possible to complete this transaction remotely or do I physically have to go to the dealer (closest is an hour away).
Any advice or tips on this process so I don’t get ripped off would be greatly appreciated.
No fees are legit, but they are costs the dealer will charge you to use their service.
0-1500 depending
Some dealers can do it remotely
You didn’t ask this question.
Search here for Lexus Brokers (In any state) and ask them if their dealership can do a buyout and how much their fees are. (Which should be less) You don’t have to buy from a FL dealership BTW.
ok thank you. We live in north Florida so would it be advantageous to maybe drive to Georgia maybe for this? I know Florida doesnt have a doc fee cap, not sure about Georgia. Ill look for brokers also. Thanks again for the tips
I read on another thread that some Toyota owners have been successful performing their lease buyout with a Lexus dealer. Would the reverse also be true? Could I potentially go to a Toyota dealer to do my Lexus buyout in Florida?
You have to make sure you are Lexus Financial Services instead of South East Toyota Finance.
If you are LFS you have to call far outside (like NY or CA) to process at a Toyota dealer. I don’t know the range of SETF, I just know they handle most of the South East Toyota Dealers. (SETF is not owned by Toyota)
