Negotiate new lease at lease end - RX 350

cchinacchina Member Posts: 7
edited June 2019 in Lexus
QUESTIONS:
(1) Does Lexus offer me any incentives - cash, loyalty etc ?? Or do I just negotiate hard for a good price on the vehicle that they use to calculate the lease pymts?
(2) What's the best Money Factor and Sales Price I can get realistically in NYC and New Jersey (where I got the car) ?
Is there an option to get my new lease on a showroom model or dealer's loaner vehicle that already has a few miles on it, particularly since I will likely come in under my allotted miles?
(3) Is offer to 'waive' remaining lease pymts real or just a sales gimmick?

INFO:
2016 Lexus RX 350 with all standard and optional features: AWD, sunroof, navigation, blind spot monitor, premium package – MSRP was about $51K.
Lease 36 month, 12,000 miles/yr. Lease will be up in Oct 2019. Lease initiated in Oct 2016 with a $550 monthly pymt for $12K miles/yr. Lease agmt has $31,450 as residual value price to purchase at end of lease.
I have used about 4,000 miles/yr only. NYC resident. 6 months after I started the Lease work/life situation changed causing my actual usage to be waaay less than what I thought I would need.
Realistically, going forward my usage is going to be closer to 7500 per year. New lease needs to be 7500 or 10,000 miles maximum to allow for 1 or 2 road trips.
Slight damage (dent & paint scraped off) on rear door should be covered by Excessive Wear & Use protection that I bought.

I want to use to my advantage (1) the vehicle's extremely low miles and (2) a dealer’s interest in getting my car to sell as a luxury pre-owned vehicle on which they make more $ than they make on a new vehicle.
I plan to negotiate hard and get an offer from 3-4 dealerships by email stating the offer terms I want. All I want is an excellent monthly lease payment.


Comments

  • kyfdxkyfdx Moderator Posts: 209,059
    cchina said:

    QUESTIONS:
    (1) Does Lexus offer me any incentives - cash, loyalty etc ?? Or do I just negotiate hard for a good price on the vehicle that they use to calculate the lease pymts?
    (2) What's the best Money Factor and Sales Price I can get realistically in NYC and New Jersey (where I got the car) ?
    Is there an option to get my new lease on a showroom model or dealer's loaner vehicle that already has a few miles on it, particularly since I will likely come in under my allotted miles?
    (3) Is offer to 'waive' remaining lease pymts real or just a sales gimmick?

    INFO:
    2016 Lexus RX 350 with all standard and optional features: AWD, sunroof, navigation, blind spot monitor, premium package – MSRP was about $51K.
    Lease 36 month, 12,000 miles/yr. Lease will be up in Oct 2019. Lease initiated in Oct 2016 with a $550 monthly pymt for $12K miles/yr. Lease agmt has $31,450 as residual value price to purchase at end of lease.
    I have used about 4,000 miles/yr only. NYC resident. 6 months after I started the Lease work/life situation changed causing my actual usage to be waaay less than what I thought I would need.
    Realistically, going forward my usage is going to be closer to 7500 per year. New lease needs to be 7500 or 10,000 miles maximum to allow for 1 or 2 road trips.
    Slight damage (dent & paint scraped off) on rear door should be covered by Excessive Wear & Use protection that I bought.

    I want to use to my advantage (1) the vehicle's extremely low miles and (2) a dealer’s interest in getting my car to sell as a luxury pre-owned vehicle on which they make more $ than they make on a new vehicle.
    I plan to negotiate hard and get an offer from 3-4 dealerships by email stating the offer terms I want. All I want is an excellent monthly lease payment.


    If you have four month left, and only 11K miles on the vehicle, why do you want out now?

    Because of the low mileage, your vehicle might be worth enough for a dealer to take it in trade, and pay off your lease balance. So, they likely can't waive the payments, but they may be able to take you out of the lease at no cost to you. In a perfect world, they might credit you with some equity (assuming you have some), but that isn't likely.

    36/10
    .00050 MF and 57% residual
    $2000 lease cash

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  • cchinacchina Member Posts: 7
    To clarify, I am seeking advice on the best strategy to get the best possible deal for a new monthly pymt at lease end given my particular situation. I wasn't looking to get out of lease early -- but one dealer kept sending me offers to get out early and I didn't see what advantage there was for me to do that. Just trying to get tips on the best negotiation move for me to make. So you gave me one answer -- that there's no benefit to me gettting out before my end date that's four months away.

    In what circumstances at lease end have you seen a dealer credit the customer with some equity?
    Forgot to add, what's the best discount % off MSRP price? For 2019 and 2020 model (will 2020 be out by my lease end date Oct 1?)
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