Question : Lease new 2022 RX450h or Buy Current 2019 Leased RX450h (Lease end Dec '21) ?

attitudetalksattitudetalks Member Posts: 69
edited September 2021 in Lexus
Hello,
I currently drive a Lexus 2019 RX450h (leased in Dec 2018) which is coming up on lease end shortly. At the same time, I have been hearing of dealerships being low on inventory.

Is it better to buy out my current leased 2018 RX instead of trying to lease a new 2022 at this time ?
Market : Atlanta, GA
Zip Code : 30009
Current Mileage : Around 30k

Appreciate all the advice I can get.
Thank you

Comments

  • kyfdxkyfdx Moderator Posts: 207,899

    Hello,
    I currently drive a Lexus 2019 RX450h (leased in Dec 2018) which is coming up on lease end shortly. At the same time, I have been hearing of dealerships being low on inventory.

    Is it better to buy out my current leased 2018 RX instead of trying to lease a new 2022 at this time ?
    Market : Atlanta, GA
    Zip Code : 30009
    Current Mileage : Around 30k

    Appreciate all the advice I can get.
    Thank you

    What is the buyout amount? How about the current value?

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  • MichaellMichaell ColoradoModerator Posts: 206,418

    Hello,
    I currently drive a Lexus 2019 RX450h (leased in Dec 2018) which is coming up on lease end shortly. At the same time, I have been hearing of dealerships being low on inventory.

    Is it better to buy out my current leased 2018 RX instead of trying to lease a new 2022 at this time ?
    Market : Atlanta, GA
    Zip Code : 30009
    Current Mileage : Around 30k

    Appreciate all the advice I can get.
    Thank you

    Probably better to buy your lease out, at a fixed buyout price.

    The market for new cars is still very unstable, and dealers have the upper hand in negotiations. You might fall over if you got a quote for a new car.

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  • attitudetalksattitudetalks Member Posts: 69
    edited September 2021
    @kyfdx : I'll have to check but I think the residual value of the 2019 RX 450h was 57% with an msrp of $62kish. That brings the value to approx $35k+.

    @Michaell : :D .... I thought as much but as kyfdx eludes to, the high residual value is kinda throwing me off. That said, I have no quotes on a new car except for the price of the build on the lexus site.

    I'll follow up with accurate details by tomorrow once I have fished out the lease contract.

    Thank you both.
  • attitudetalksattitudetalks Member Posts: 69
    edited September 2021

    Ok good sirs … here are the details of this car.
    2019 RX450h 3yrs/10k
    Vehicle Value : $54,654
    Residual value : $37,592.40
    Residual Value Rate : 69.78% ??? (seems really high)
    Current Milage : 24k+

    Still think it’s worth it buying out this vehicle ?

    Regards
    AT

  • kyfdxkyfdx Moderator Posts: 207,899

    Ok good sirs … here are the details of this car.

    2019 RX450h 3yrs/10k

    Vehicle Value : $54,654

    Residual value : $37,592.40

    Residual Value Rate : 69.78% ??? (seems really high)

    Current Milage : 24k+

    Still think it’s worth it buying out this vehicle ?

    Regards

    AT

    Residual value is a percentage of MSRP, not the selling price.

    The only way to know if the buyout is a good deal is to see what similar vehicles are selling for.
    You can start with our Price Checker link, below

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  • attitudetalksattitudetalks Member Posts: 69

    @kyfdx, @michaell
    Gentlemen - thank you for your valuable insights into the current state of the auto retail industry and car inventories. I check out all my options and you were right about everything.

    FYI, we bought our lease out as that was the best option. Got a rate of 2.94% with $1500 down for 72 months (6years). Since they calculate a simple interest rate, best to spread it out methinks.

    Thank again for everything.

    -AT

  • kyfdxkyfdx Moderator Posts: 207,899

    @kyfdx, @michaell

    Gentlemen - thank you for your valuable insights into the current state of the auto retail industry and car inventories. I check out all my options and you were right about everything.

    FYI, we bought our lease out as that was the best option. Got a rate of 2.94% with $1500 down for 72 months (6years). Since they calculate a simple interest rate, best to spread it out methinks.

    Thank again for everything.

    -AT

    Congrats! Thanks for the report

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  • zoombie99zoombie99 North JerseyMember Posts: 317
    edited October 2021
    What is the current residual and money factor for a 2022 450h. PS to the mods - can you start a 2022 450h thread?
    BMW 2019 540x Bluestone
    BMW 2019 Glacier Silver X3 30i being built to replace a 2017 X3 (wife's)
  • kyfdxkyfdx Moderator Posts: 207,899
    zoombie99 said:

    What is the current residual and money factor for a 2022 450h. PS to the mods - can you start a 2022 450h thread?

    2022 RX discussion

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