Looking to buy a 2023 RX 350, but there is a $2k lease credit. Also buying in Virginia but reside in Michigan. What is the process for lease to buy to take advantage of the credit? My understanding is you have to pay acquisition fee, and probably have to wait one month after to buyout. Net would be ~$1.3k I believe. Also does anyone know if I would contact Lexus Financial directly to buyout or have to go through a dealer (hopefully not the one in Virginia). Appreciate anyone’s insights/experiences.
Yes, you’re correct
You go through whomever you make the payment to.
I don’t know, but #3 would imply you need to buy out through a dealer. Even if you were paying cash and can but out directly from Lexus Financial, I assume Lexus Financial wouldn’t do the DMV paperwork for you.
Between the acq fee and probably $999 doc fee in VA and any purchase option fee, are you saving anything?
You’d also lose the ability to use any new car loan programs and have to finance the buyout with a used car loan at a higher APR.
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Yeah found out the hard way about the VA doc fee. Was going to be a straight purchase and not financed. Thanks everyone for the input!
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