Received these two options for a lease I live in South Florida Boca Raton area. Trading in my Jeep Cherokee 2016 42K Miles was offered $15,000 owe about $17,338 ! My Cherokee is having engine problem so I’m on the market for a Lexus could someone tell me if the deal is fair. Wanted to do 36 month however went over my budget so considered doing 1k down to keep it at 500 a month or I could do the 45 months / $489 a month given the fact that I could trade it in at 41 months and Lexus would cover the last 4 payments without putting any money down.
The car price is close to the same as invoice according to edmunds.com. Just unsure if I should do the 36months or 45months. Lexus vehicle is under warranty for 48months!
If you are doing 15,000 miles a year, you’ll be out of warranty a little after year 3, it’s 48 month or 50 thousand miles.
As far as the deal goes, I don’t know much about Lexus. I’m sure someone else can help.
I did check the trade in value on KBB and TrueCar.com the car would be between 14K to 16K max. Felt the trade in value was fair given the tires needed to be changed.
