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Lease deal / trade in

aroessleinaroesslein Member Posts: 15
edited December 2018 in Lexus
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
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    kyfdxkyfdx Moderator Posts: 243,488

    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.

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    aroessleinaroesslein Member Posts: 15
    Is it best to stay the entirety of the lease?
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    aroessleinaroesslein Member Posts: 15
    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?
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    kyfdxkyfdx Moderator Posts: 243,488

    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?

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    aroessleinaroesslein Member Posts: 15
    This last time was due to moving but it would probably be a good idea to look into more mileage 
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    aroessleinaroesslein Member Posts: 15
    This is the quote that I received. What are your thoughts on this price and monthly payments?
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