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Hi,

I was hoping anyone here with experience in buying the car after the lease was over, or possibly a Lexus employee could help me with my questions.

I feel my car is in perfect condition, did all the maintenance and upkeep. My lease matures this July. I had a few questions...

1.) Is the buyout price negotiable at the end?

2.) Do you think Lexus rather have me return the car at the end or buy it? Since they don't make IS300's anymore, I figure they rather not want it back?

3.) If I got it this car leased from a dealer in Ramsey, do I have to go back to Ramsey to discuss the buy-out process? or can I go to any dealer?

4.) Any other heads up on what to expect, mainly any hidden fees or other drawbacks in buying after my lease?

Thanks so much.:confused:
 

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Hi,

I was hoping anyone here with experience in buying the car after the lease was over, or possibly a Lexus employee could help me with my questions.

I feel my car is in perfect condition, did all the maintenance and upkeep. My lease matures this July. I had a few questions...

1.) Is the buyout price negotiable at the end?

2.) Do you think Lexus rather have me return the car at the end or buy it? Since they don't make IS300's anymore, I figure they rather not want it back?

3.) If I got it this car leased from a dealer in Ramsey, do I have to go back to Ramsey to discuss the buy-out process? or can I go to any dealer?

4.) Any other heads up on what to expect, mainly any hidden fees or other drawbacks in buying after my lease?

Thanks so much.:confused:
I think I can help a little bit. I worked at a Chrysler dealership (not sales) for a good chunk of 2007.

1) I am not sure. I do not think buy-out price is (very) flexible.

2) They would rather have you lease something else. They make the sale and push something off their lot, it's two sales for them (say if you turn your IS300 in for a IS350), rather than one if you buy the IS300.

3) Things will be much easier if you go back to the original dealership, I only see roadblocks and delays if you bring to another Lexus dealership. I am not 100% sure if a sister Lexus dealership can do a lease return, from my experiences at the Chrysler dealership and any leases in my family, they have always been returned to the dealership that sold the car.

4) The only thing I am 100% sure of is they will do a visual inspection to the car, if they say something is damaged (cracked bumper) you pay.

Sorry I can't help anymore, if I were still at the Chrysler dealership I could have solid answers to every question.

Why don't you call up the dealership and ask them these questions? Just call up and ask for the sales manager, they will have no problem answering your questions.
 

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Maybe, this can shed some light to your question. Found it while surfing the web.

Car Lease Buy Out
The car lease buy out is the pre-determined amount that the lessee can purchase the leased vehicle for at scheduled lease termination. The Car lease buy out figure consists of the Residual Value plus the Purchase Option Fee, if applicable. In some cases this figure may be viewed as a worst-case scenario because many leasing companies will negotiate this amount with the lessee in order to hedge potential losses associated with the sale of the vehicle through other channels.

If the vehicle depreciates significantly over the course of the lease, the car lease buy out will be low. However, if the vehicle does not depreciate much throughout the lease, but rather retains most of its value, then the car lease buy out will be much higher.

It is also possible to purchase the vehicle at any point throughout the lease for the current lease buyout. An example of why someone might want to purchase the lease while the lease is in process is if the vehicle is substantially over in mileage or has significant excess damage. In either situation, the lessor at lease-end would charge the lessee a premium. So, the lessee might decide to purchase the vehicle and either sell it or keep it for him/herself.

It is also possible to simply transfer the vehicle by finding someone to assume the lease. The process of lease assumption also allows you to get out of a lease without suffering any financial penalties. Swapalease is the Internet’s premier marketplace for lease assumptions.

Other fees associated with leasing include the security deposit, the down payment (or capitalized cost reduction), the disposition fee, excess mileage fee, excess wear fee, registration fee, taxes, monthly payment, insurance cost, early termination fee, charges for late monthly payments, and any other fees that may apply. It is important to understand which of these fees are negotiable, and which are not. These fees can vary by leasing company and/or by dealership.

These fees, along with many other leasing terms, are defined in this section. Please see the Frequently Asked Questions section of Swapalease.com for any other questions about leasing, leasing fees, and other leasing-related concerns.

Important Details
Up-front costs: Lease contracts typically require up-front costs to be paid by the lessee. These costs might include a down payment, an acquisition fee, a refundable security deposit, one month’s payment, registration fees, and/or taxes.

Monthly payment: The monthly payment is the payment made by the lessee each month to the lessor in exchange for use of the vehicle. The payments are made up of the vehicle’s depreciation over the term of the lease, interest charged by the lessor, and any taxes that may apply. The payment is negotiated up front.

Early Lease Termination: A few methods of early lease termination exist.
Return the vehicle early to the lessor: In this type of situation, the lessor will require you to pay any remaining payments along with early lease termination fees, which can cost thousands of dollars.
Voluntary repossession: There are no up-front costs, but the lessee’s credit will be severely damaged, as this is considered a form of repossession.
Lease assumption: By finding someone to assume your lease payments, you can walk away from your lease without any significant up-front costs. Click here to find our more information.
Lease end date: It is important to find out a drop-off point for your vehicle that is close to you and approved by the lessor. At the time of drop off, you will be required to pay any lease-end costs before the transaction is complete. These costs may include excess mileage fees, excess wear and tear fees, disposition fee, and any other lease-end costs. It is recommended that you have the vehicle inspected and repaired, if necessary, prior to vehicle drop-off so that you can avoid pay premium prices at the dealer.

Mileage: Most leases limit the number of miles that can be put on a Nissan lease vehicle each year. This range is typically between 10,000 to 15,000 miles per year. Extra mileage allowance can be purchased at the beginning of the lease. Otherwise, each extra mile is billed to you at a premium price at lease end. Lease-end excess mileage fees typically range from $.10 to $.20 per mile.

Excessive Wear: Lease contracts typically limit wear and tear to the vehicle over the term of the lease. The lessee will be billed for any excess wear and tear at a premium price.

NOTE: Article by Swapalease.com.
 

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I think I can help a little bit. I worked at a Chrysler dealership (not sales) for a good chunk of 2007.

4) The only thing I am 100% sure of is they will do a visual inspection to the car, if they say something is damaged (cracked bumper) you pay.
If he is buying the car, there wont be a visual inspection. They dont care if the thing even has 4 wheels, he is buying it!

I bought my car after the lease, the whole process took 15 minutes if that. I didnt even have the car there at the time. Give them the money, sign the paperwork and transfer the registration and you are out the door.
 

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If he is buying the car, there wont be a visual inspection. They dont care if the thing even has 4 wheels, he is buying it!

I bought my car after the lease, the whole process took 15 minutes if that. I didnt even have the car there at the time. Give them the money, sign the paperwork and transfer the registration and you are out the door.
Yeah they will only visually inspect if he wants to return it when his lease is up; I figured that was obvious.
 

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I can help you with your questions. I bought out the Lease on my o2 IS300. The price is non-negotiable. I have heard some American car companies will negotiate, but the European and Japanese won't. The dealers like getting the cars back because they resell them. It is no different if you buy it back.

I was over on my miles by quite a lot so the buyout was a no-brainer.

The best thing you can do is have they certify your car. Basically you have the car you leased turned in to a Lexus Certified Pre-Owned. It is great because your warranty now goes to 100K or three more years. It cost me $1,500.

As for financing. Yes they will finance you. I was lucky Lexus was running a special on financing, but it is just like financing the purchase of a used car.

If you buy-out price is fair, then it is a no-brainer if you wan't to keep your car. My buty out price was less than the other IS300 on the lot, plus I was going to owe a couple of grand for over milage.

If you have any other questions, let me know.
 
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