Upgrade lease from 2013 to 2016

kevinmnyrx350

Hi,

I've leased 2 new RX350's since 2010. Currently have a 2013, leased in June 2013. Has pretty much all the bells and whistles on it, except for Mark Levinson and rear video entertainment.

The lease is a 42 month lease, but I suspect they'll come to me at 36 months, since I have really low mileage on and there's good resale value. My original 2010 had a 48 month lease and they called, practically begging for me to trade at 36 mos.

Question here is: Should I do this in June or wait until time is closer to the end of the lease in December? I noticed they're started to offer "$2500 in lease cash on select models", but didn't check specifics on that yet.

Any info would be greatly appreciated!

Michaell

kevinmnyrx350 said:

Hi,

I've leased 2 new RX350's since 2010. Currently have a 2013, leased in June 2013. Has pretty much all the bells and whistles on it, except for Mark Levinson and rear video entertainment.

The lease is a 42 month lease, but I suspect they'll come to me at 36 months, since I have really low mileage on and there's good resale value. My original 2010 had a 48 month lease and they called, practically begging for me to trade at 36 mos.

Question here is: Should I do this in June or wait until time is closer to the end of the lease in December? I noticed they're started to offer "$2500 in lease cash on select models", but didn't check specifics on that yet.

Any info would be greatly appreciated!

Rarely does it make sense to trade out of a lease early, but I suspect it's more likely with Lexus than other brands.

I would suggest you get the payoff value of your current lease and then determine the trade value. That way, you'll know how much positive or negative equity you are working with.

And, it never hurts to wait. Might time it right for the annual "December to Remember" promotion from Lexus.

kevinmnyrx350

Thanks for the info. The purchase price will be $26K at the end of the lease, if I wait until December. That's just about 1/2 of the original sticker price.

Michaell

kevinmnyrx350 said:

Thanks for the info. The purchase price will be $26K at the end of the lease, if I wait until December. That's just about 1/2 of the original sticker price.

Your lease has a current buyout value today, as well. Contact LFS for that dollar amount.

Dealers love to say "we'll pay off your lease", when in fact you may have positive equity because of the condition and the miles.