Residual Value - Good Deal?

IdentityKeeper

Hi All,

I am at the end of the lease on my 2017 Lexus RX350 and would like to understand whether buying out the residual value of the car is a good deal. I do still enjoy the car and is in excellent shape - 30k miles. The residual value is $30,697k and the original sale price was $52991. If I look for dealer sales of the same car with similar mileage it appears to be $33k to 38k.

I am a first time leaser and need your assistance with finalizing my decision on whether to buy my existing car or move on.

Thank you in advace.

kyfdx

IdentityKeeper said:

Hi All,

I am at the end of the lease on my 2017 Lexus RX350 and would like to understand whether buying out the residual value of the car is a good deal. I do still enjoy the car and is in excellent shape - 30k miles. The residual value is $30,697k and the original sale price was $52991. If I look for dealer sales of the same car with similar mileage it appears to be $33k to 38k.

I am a first time leaser and need your assistance with finalizing my decision on whether to buy my existing car or move on.

Thank you in advace.

Edmunds has an appraisal tool, here:
https://www.edmunds.com/appraisal/