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

attitudetalks

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

kyfdx

attitudetalks said:

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?

Michaell

attitudetalks said:

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.

attitudetalks

@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 : .... 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.

attitudetalks

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

kyfdx

attitudetalks said:

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

attitudetalks

@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

kyfdx

attitudetalks said:

@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

zoombie99

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

kyfdx

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