Sold my GX 460 (Lease) back to the dealer

I wanted to share my recent experience. I have a 3-year lease on the GX460 (2018 model) which was expiring in October, 2021. Got a call from the same Lexus dealer where I leased it, and they offered me to bring the car back to the dealer to have it appraised. I thoughts it’s their sales tactics, but decided to try anyway since my wife made a hole in the rear bumper which would need to be replaced (not repainted). I didn’t want to return it and pay money, plus we only needed one car due to working from home during covid. So I took a chance and visited the dealer. As a result, I walked away with no car, as the dealer offered to pay be above what my car was worth according to the pre-set residual and what I owed on it. So the dealer bought my car, and relisted it for sale the next week. I’m still surprised, as I got more from the dealer than what I tried with VROOM and Carmax. The dealer mentioned that due to chip shortage and an overall shortage of used vehicles, they have been buying pre-owned inventory locally. I saw on their website that they bought 3 more GXs recently as similar trades. Sharing for all of you leasehackrs who are interested in trading your cars back and not owning anything on them.

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