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Car Buying Advice---Backing out of 3 day lease GX460 - how can I do it?

stimstim Posts: 36
edited September 2017 in Lexus
Took possession on a GX460 which has a payment of 489 including tax. Sales price was about 52000 with rebate,dealer discount. No money down - just a large MSD of 4600. Not the most popular in the house - went with cheap lease vs happy family. They hate it and I also think I made a 3 year mistake. So, with 100 miles on the odometer what are my options? Can I approach the dealer for a buyout - I'm sure it isn't even titled yet as I picked it up on Thursday and its now Sunday. Totally understand that a lease is a binding contract but I'm looking for options.

I'd be willing to take a "hit" just not multiple thousands in excess of 3000 just to get have it gone. Total list was about 59500 the the selling price was 52500. So what are my options? Listed it on swapalease and you basically get a bunch of very interesting people that aren't serious buyers. Carmax as a buyout? The trade in values on several site with 102 miles are in the 51-52 range which I think is pretty high.

Talking to Lexus Financial at this point would more than likely yield a response that you are responsible for the balance of the lease etc.


Comments

  • kyfdxkyfdx Everywhere, USAPosts: 127,831
    stim said:

    Took possession on a GX460 which has a payment of 489 including tax. Sales price was about 52000 with rebate,dealer discount. No money down - just a large MSD of 4600. Not the most popular in the house - went with cheap lease vs happy family. They hate it and I also think I made a 3 year mistake. So, with 100 miles on the odometer what are my options? Can I approach the dealer for a buyout - I'm sure it isn't even titled yet as I picked it up on Thursday and its now Sunday. Totally understand that a lease is a binding contract but I'm looking for options.

    I'd be willing to take a "hit" just not multiple thousands in excess of 3000 just to get have it gone. Total list was about 59500 the the selling price was 52500. So what are my options? Listed it on swapalease and you basically get a bunch of very interesting people that aren't serious buyers. Carmax as a buyout? The trade in values on several site with 102 miles are in the 51-52 range which I think is pretty high.

    Talking to Lexus Financial at this point would more than likely yield a response that you are responsible for the balance of the lease etc.


    I'd tell your family to get over it.

    Seriously, I don't know how much it would take you to get out of the lease. It wouldn't be pretty.

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

    Edmunds Moderator

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