I’m on my 3rd lease from Lexus but with a new job, my daily commute will put me over my limit when it’s over in two years. This will be the first time this is happening with any lease so I’m trying to understand my options early.
Something to add to this, when I turned in my last lease, the inspector noticed i had 4+ panels replaced because of an accident and said it wouldn’t be eligible for “Certified Pre-Owned Lexus” and try and use to my advantage when turning it in. Since I did another Lease, this was never brought up.
Now that I may look into buying my lease out (because of the mile overage) and this lease wont be CPO eligible because of another accident, could I use this to my advantage? Any suggestions on if these two factors (mileage overage + non-CPO eligibility) could help/hurt my options?
My dad mentioned they may be less inclined to do a deal if i want to buy out considering they will want to get as much money as possible. I don’t know if I believe that so I’m asking this group.
Maybe get a secondary cheap lease posted here often the typewith 0 down less than 200 monthly.
Take it to Carmax right now and see how much you’re upside down and decide To bite the bullet to buy a car since leasing no longer seems like an option for you.
I’m sure other people will have better advice as I’ve never been in this situation
Being in an accident and/or being CPO eligible shouldn’t matter when turning in at lease-end if it was repaired/painted at a reputable body shop and brought to a state similar to before the accident.
If you are buying your lease out, the only option is to pay the RV as LFS won’t negotiable beyond that.
I’ve seen Lexuses with CPO that have been in accidents so that isn’t necessarily true. The dealer won’t deal with you… You will pay the RV upon lease ending set by Lexus Financial Services
Well do you like the car. If you are willing to keep it long term just buy it at the end and likewise If driving over 15k a year. Consider buying a car. My dad used to do 20k+ a year and every 5 years he would get a certified used car. Used Mercedes cars have unlimited miles for a certain number of years.
You can probably buy extra miles. In my last BMW lease I paid for the extra miles I had driven the day before I turned the car in. Pre paying for miles was cheaper, than after turning in the lease. I had paid .22 per mile. Check w LF to see if you can do that, even they charge .25 X 8000= $2000. Might be worth it if you like the car and find it easier to pay the miles.
