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

hpowdershpowders Posts: 4,310
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 ColoradoPosts: 111,067
    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.

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


    MODERATOR

    2016 VW Jetta 1.4T SE / 2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • hpowdershpowders Posts: 4,310
    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 ColoradoPosts: 111,067
    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.

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


    MODERATOR

    2016 VW Jetta 1.4T SE / 2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • hpowdershpowders Posts: 4,310
    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 ColoradoPosts: 111,067
    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?

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


    MODERATOR

    2016 VW Jetta 1.4T SE / 2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • hpowdershpowders Posts: 4,310
    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 ColoradoPosts: 111,067
    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.

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


    MODERATOR

    2016 VW Jetta 1.4T SE / 2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • 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 Posts: 120,447

    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

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • PF_FlyerPF_Flyer Pennsylvania Furnace, PAPosts: 9,004

    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.

    Edmunds Moderator

    Need some roadside assistance? [email protected] - or send a private message by clicking on my name.

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