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

hpowders

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!

Michaell

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.

hpowders

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

Michaell

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.

hpowders

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.

Michaell

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?

hpowders

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.

Michaell

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.

pura_vida_nyc

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.

kyfdx

pura_vida_nyc said:

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

PF_Flyer

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 PR@Edmunds.com no later than Monday, January 16, 2017.