We live in Florida, near Tampa.
So here is my dilemma:
First, I know very little about getting a good deal on a leased car.
My wife currently has 5 more months of lease payments on her 2021 Mercedes GLB250, but is anxious to get a new car as it has 48,000 miles on it and she doesn’t want to keep it after the factory 50,000 mile warranty expires.
She likes the Lexus 350h, but I was thinking about swayimg her towards the Lexus 450h plus. Is it possible to obtain a 450h plus for just a few thousand more than a 350h by utilizing the $7,500 lease tax credit? Is it a good idea to buy that lease out after a month or two?
So:
1.Are there really companies that will buy out her Mercedes lease or should I try real hard to have her keep it to the end of her lease?
Should I have a broker handle a lease for a 450h plus, since I know little about MSDs, money factors and lease negociations?
If the 450h plus is a no go, would a broker be helpful for me purchasing a 350h? I think that I could locate a decent one locally and negociate a fair price.
Patience is a virtue. Good things come to those who wait.
And who is eating the negative equity? Find out how much it’s worth and compare the payoff.
Why are you steering her away from her preference - besides a perceived savings thru tax credit? PS most vehicles that are eligible have an inflated MSRP, and I have seen Toyota/Lexus folks twist themselves into a pretzel to recover a couple hundred of that after markups and fees — it’s theoretically possible to get it all, most people leave a lot of it on that table AFTER they overpaid.
Back to your question: what outcome do you actually want here? For her to wait? Budget back in line? The one you want? Lease-to-buy-for-tax-credit?
What about buying/financing a 350h, wrap it in an extended warranty, drive it until the wheels fall off?
I would be interested in getting a $64,000 450h for close to the cost of a loaded 350h if that is possible considering the $7,500 lease tax credit. Or are the "fees’ and dealer markup too much on the 450h?
I currently drive a Lincoln Corsair GT plug in hybrid and hardly ever buy gas. That is why I am interested in the 450h (if the price is right).
Makes sense. How does that compare to deals in the Marketplace?
You will have to see what dealers are offering with respect to markups and add-ons.
If you lease-to-buy just to capture the tax credit, you’re paying Acquisition fee + Disposition (like any lease), and in FL most lease buyouts have to process through a dealer, so if you aren’t careful you are paying doc fee(++) twice.
Since both of you like Lexus, look into RZ. Will be much cheaper to lease than either NX. Need to be aware of three obvious negatives though:
1- limited range, even with RZ300 or 450 with 18" wheels.
2 - relatively slow charging speed.
3 - lack of sunroof shade (range will suffer further in hot climate when cranking AC)
But it’s a lot more of more car than NX and more fun to drive for less. If not, look into Hyundai/Kia.
I know that her current GLB Mercedes is going to cost major $$$$ to turn in (I will pay whatever it takes).
My wife will be out of town for the next couple weeks. I will try to have several potential “plans” ready for her when she returns. KIa is out of the question.
She will only will drive a luxury brand.
Poor me!
Genuine question, but why? Is literally the only reason why she doesn’t want to drive it anymore is b/c she’s nervous about out of warranty expenses?
As other have said, first see how much the car is worth. It’s possible that the $ you spend on an out of warranty repair (which is probably a pretty unlikely occurrence) might be less than the mileage penalty + negative equity (in which case it might make more sense to simply keep the car for another 5 mos).
