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Lease Deal on a Low Mileage 2013 CPO Lexus 460 F Sport

hpowdershpowders Member Posts: 4,328
edited July 2016 in Lexus
A Lexus dealer is offering a Lexus Certified, off-lease with 15,000 miles on it: 2013 LS 460 with F Sport Package, Comfort Package, All Weather Package, Mark Levinson Audio, Blind Spot Monitor, 19" Wheels, pretty much loaded up with clean Carfax, (listed at $49,911) for a 36 month lease, 10,000 miles per year for $629 a month with $2999 down ($712,30 pre-tax, factoring in the down payment). With 7% sales tax, this comes to around $762 a month. The dealer is highly reputable.

Does this look like a good or okay deal or should I pass?

Thank you!

Comments

  • MichaellMichaell ColoradoModerator Posts: 194,445
    hpowders said:

    A Lexus dealer is offering a Lexus Certified, off-lease with 15,000 miles on it: 2013 LS 460 with F Sport Package, Comfort Package, All Weather Package, Mark Levinson Audio, Blind Spot Monitor, 19" Wheels, pretty much loaded up with clean Carfax, (listed at $49,911) for a 36 month lease, 10,000 miles per year for $629 a month with $2999 down ($712,30 pre-tax, factoring in the down payment). With 7% sales tax, this comes to around $762 a month. The dealer is highly reputable.

    Does this look like a good or okay deal or should I pass?

    Thank you!

    Lexus has just started the program to lease CPO vehicles.

    Unfortunately, we don't have any information on it to validate the quote you got from the dealer.

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  • hpowdershpowders Member Posts: 4,328
    I guess leasing the CPO's is better than having the cars sitting on the lot, taking up valuable space at very high prices.
  • MichaellMichaell ColoradoModerator Posts: 194,445
    hpowders said:

    I guess leasing the CPO's is better than having the cars sitting on the lot, taking up valuable space at very high prices.

    I get the rationale behind it; BMW has also started a CPO lease program.

    I suspect this will be the start of a new trend from the luxury brands.

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  • hpowdershpowders Member Posts: 4,328
    Michaell said:

    hpowders said:

    I guess leasing the CPO's is better than having the cars sitting on the lot, taking up valuable space at very high prices.

    I get the rationale behind it; BMW has also started a CPO lease program.

    I suspect this will be the start of a new trend from the luxury brands.
    I think it's smart business, Michaell. They get those used cars off the lot. Space is at a premium.

  • MichaellMichaell ColoradoModerator Posts: 194,445
    hpowders said:

    Michaell said:

    hpowders said:

    I guess leasing the CPO's is better than having the cars sitting on the lot, taking up valuable space at very high prices.

    I get the rationale behind it; BMW has also started a CPO lease program.

    I suspect this will be the start of a new trend from the luxury brands.
    I think it's smart business, Michaell. They get those used cars off the lot. Space is at a premium.

    The challenge is determining the residual value of a used car - obviously, you can't assign the same residual to a car with 35,000 miles on it as you do to a car with only 20,000 miles.

    Or can you?

    Edmunds Price Checker
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    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • hpowdershpowders Member Posts: 4,328
    Michaell said:

    hpowders said:

    Michaell said:

    hpowders said:

    I guess leasing the CPO's is better than having the cars sitting on the lot, taking up valuable space at very high prices.

    I get the rationale behind it; BMW has also started a CPO lease program.

    I suspect this will be the start of a new trend from the luxury brands.
    I think it's smart business, Michaell. They get those used cars off the lot. Space is at a premium.

    The challenge is determining the residual value of a used car - obviously, you can't assign the same residual to a car with 35,000 miles on it as you do to a car with only 20,000 miles.

    Or can you?
    You're at the mercy of the dealer. Still if you want to drive a top of the line Lexus, how bad could a low mileage vehicle used lease be? Minimum outlay on a car that listed for $75k-$80k.

  • MichaellMichaell ColoradoModerator Posts: 194,445
    hpowders said:

    Michaell said:

    hpowders said:

    Michaell said:

    hpowders said:

    I guess leasing the CPO's is better than having the cars sitting on the lot, taking up valuable space at very high prices.

    I get the rationale behind it; BMW has also started a CPO lease program.

    I suspect this will be the start of a new trend from the luxury brands.
    I think it's smart business, Michaell. They get those used cars off the lot. Space is at a premium.

    The challenge is determining the residual value of a used car - obviously, you can't assign the same residual to a car with 35,000 miles on it as you do to a car with only 20,000 miles.

    Or can you?
    You're at the mercy of the dealer. Still if you want to drive a top of the line Lexus, how bad could a low mileage vehicle used lease be? Minimum outlay on a car that listed for $75k-$80k.

    BMW has published the formula by which CPO residuals are calculated. I presume Lexus has done the same, but we haven't seen the information.

    Edmunds Price Checker
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    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


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    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • pura_vida_nycpura_vida_nyc Member Posts: 6
    Hi,
    Do you know the formula to calculate a Lexus residual? I just found out that CPO leases are available at Lexus by visiting their website:
    http://www.raycatenalexusmonmouth.com/VehicleSearchResults?search=certified&bodyType=SUV&make=Lexus&offset=0&model=RX 350

    Any suggestions before I contact the dealer eg RV, MF, Fees, etc...

    Thanks.
  • kyfdxkyfdx Moderator Posts: 198,935

    Hi,
    Do you know the formula to calculate a Lexus residual? I just found out that CPO leases are available at Lexus by visiting their website:
    http://www.raycatenalexusmonmouth.com/VehicleSearchResults?search=certified&bodyType=SUV&make=Lexus&offset=0&model=RX 350

    Any suggestions before I contact the dealer eg RV, MF, Fees, etc...

    Thanks.

    Sorry, but we don't have any info on CPO leases

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  • PF_FlyerPF_Flyer Pennsylvania Furnace, PAMember Posts: 9,400

    A reporter is looking to talk to someone who was originally shopping for a new car, but decided to buy a CPO vehicle instead because it was a better deal. If you're willing to assist, please send an email to [email protected] no later than Monday, January 16, 2017.
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