Lease deal / trade in

aroesslein

I’m getting ready to negotiate a new lease with Lexus. I’ve called 2 different dealerships to look for deals on a Lexus RX 350 sport 2019. I currently lease a Lexus Nx 200t fsport 2016. I’m 5 payments out of my lease being done. They said Lexus would pick up 3 and they would pick up 2. The residual value is $26832 Original price $41983 sale price after trade-in was $38645 36 months 45000 miles and I’m at 44000. My payments are $417.84. What should I expect as far a having any equity in my current vehicle? What is is a good MF and Residual value on the Lexus Rx350 I’m in Missouri my zipcode is 63385 Thank you! Amy

kyfdx

aroesslein said:

I’m getting ready to negotiate a new lease with Lexus. I’ve called 2 different dealerships to look for deals on a Lexus RX 350 sport 2019. I currently lease a Lexus Nx 200t fsport 2016. I’m 5 payments out of my lease being done. They said Lexus would pick up 3 and they would pick up 2.
The residual value is $26832
Original price $41983
sale price after trade-in was $38645
36 months 45000 miles and I’m at 44000. My payments are $417.84.
What should I expect as far a having any equity in my current vehicle? What is is a good MF and Residual value on the Lexus Rx350
I’m in Missouri my zipcode is 63385

Thank you!
Amy

If Lexus is picking up payments and so is the dealer, then they don't think you have any equity in the vehicle. If they did, they would just take it in trade.

When a dealer says they are covering the payments, that money is coming out of your pocket, one way or the other. Most likely, in a higher price for the new vehicle.

aroesslein

Is it best to stay the entirety of the lease?

aroesslein

Even if I’m over mileage? I leest Hondas for years I was over mileage and never had any issues. Lexus seems a little tougher to negotiate with. How do I figure out the equity in my car?

kyfdx

aroesslein said:

Even if I’m over mileage? I leest Hondas for years I was over mileage and never had any issues. Lexus seems a little tougher to negotiate with. How do I figure out the equity in my car?

Given your mileage situation, it can't hurt to see what they come up with.

Are you going to lease for 45K miles again? Won't you have the mileage issue to deal with, the next time?

aroesslein

This last time was due to moving but it would probably be a good idea to look into more mileage 

aroesslein

This is the quote that I received. What are your thoughts on this price and monthly payments?