Topic: End of lease preparation and what to do next

[Ottawa]

Lease ends in July 21. 2018 Lexus Rx350 F2 sport. Excellent condition. Current mileage is 26k, expect to be at 38k Kms  by end of lease.  Buyout CAD 33k with 9 month warranty left.
Debating whether I should buy it and try to sell It or trade privately for another brand. As an element of comparison, 2017 models with under 40k Kms  retail for between 40 to 45k.
Biggest incentive is to save  5k in taxes in the transaction if I manage to trade it for another brand.
On the other hand, the RX is solid and I can live with it except for the hungry engine.

[Ex-airbalancer]

At that price I would buy it out and keep it ,
What can you get for that money , with the same size and equip that will be better on mileage
33gs is about what I paid for our 2013 with 65,000 km

[quadzilla]

Biggest incentive is to save  5k in taxes in the transaction if I manage to trade it for another brand.

What 5K? It is a lease, you have nothing to trade in.

[Davep]

Lease ends in July 21. 2018 Lexus Rx350 F2 sport. Excellent condition. Current mileage is 26k, expect to be at 38k Kms  by end of lease.  Buyout CAD 33k with 9 month warranty left.
Debating whether I should buy it and try to sell It or trade privately for another brand. As an element of comparison, 2017 models with under 40k Kms  retail for between 40 to 45k.
Biggest incentive is to save  5k in taxes in the transaction if I manage to trade it for another brand.
On the other hand, the RX is solid and I can live with it except for the hungry engine.

So why not buy it out? By hungry engine, I assume you're referring to fuel usage. Does that engine use premium? Your fuel consumption can't be more than $2000 per year, and a cheaper, 4 cyl more fuel efficient CUV using regular grade may save you $500 per year, so why bother just to save $40 per month? If you like the Lexus, keep it and drive less.

[tpl]

Biggest incentive is to save  5k in taxes in the transaction if I manage to trade it for another brand.

What 5K? It is a lease, you have nothing to trade in.

If it is bought out at $33k  plus HST and then traded in for a NEW/cpo/preowned  vehicle at a dealer  at $45K  then there is a saving   3K perhaps.   But that suggests the new vehicle will be an expensive one

[quadzilla]

Biggest incentive is to save  5k in taxes in the transaction if I manage to trade it for another brand.

What 5K? It is a lease, you have nothing to trade in.

If it is bought out at $33k  plus HST and then traded in for a NEW/cpo/preowned  vehicle at a dealer  at $45K  then there is a saving   3K perhaps.   But that suggests the new vehicle will be an expensive one

Too many ifs in that scenario. Does the OP have cash or able to secure short term financing to buy out the car? Will the trading dealer give what they want?

[tpl]

No idea.   I have never done a transaction like that.    Simple me...buy new cars trade them in, repeat at intervals.

I did lease one time.  Just gave it back.

[PJungnitsch]

Lease ends in July 21. 2018 Lexus Rx350 F2 sport. Excellent condition. Current mileage is 26k, expect to be at 38k Kms  by end of lease.  Buyout CAD 33k with 9 month warranty left.
Debating whether I should buy it and try to sell It or trade privately for another brand. As an element of comparison, 2017 models with under 40k Kms  retail for between 40 to 45k.
Biggest incentive is to save  5k in taxes in the transaction if I manage to trade it for another brand.
On the other hand, the RX is solid and I can live with it except for the hungry engine.

So why not buy it out? By hungry engine, I assume you're referring to fuel usage. Does that engine use premium? Your fuel consumption can't be more than $2000 per year, and a cheaper, 4 cyl more fuel efficient CUV using regular grade may save you $500 per year, so why bother just to save $40 per month? If you like the Lexus, keep it and drive less.

Uses regular.

We just bought a 2017 Executive (so an F3 equivalent) for $40,500 from a dealer, 46,000 km. So the equivalent F2/Lux would be around $37000 or so around here

So some money to be made if you buy back and resell, likely not tons though

[Ottawa]

Lease ends in July 21. 2018 Lexus Rx350 F2 sport. Excellent condition. Current mileage is 26k, expect to be at 38k Kms  by end of lease.  Buyout CAD 33k with 9 month warranty left.
Debating whether I should buy it and try to sell It or trade privately for another brand. As an element of comparison, 2017 models with under 40k Kms  retail for between 40 to 45k.
Biggest incentive is to save  5k in taxes in the transaction if I manage to trade it for another brand.
On the other hand, the RX is solid and I can live with it except for the hungry engine.

Great price from what I can see as I could not find anything near that on autotrader for 2017. Anyhow, I will likely keep it given the reliability reputation of the RX

Time will tell.
So why not buy it out? By hungry engine, I assume you're referring to fuel usage. Does that engine use premium? Your fuel consumption can't be more than $2000 per year, and a cheaper, 4 cyl more fuel efficient CUV using regular grade may save you $500 per year, so why bother just to save $40 per month? If you like the Lexus, keep it and drive less.

Uses regular.

We just bought a 2017 Executive (so an F3 equivalent) for $40,500 from a dealer, 46,000 km. So the equivalent F2/Lux would be around $37000 or so around here

So some money to be made if you buy back and resell, likely not tons though

[ArticSteve]

As mentioned you have nothing to trade as a Lessee.   You could buy it at lease end and then trade it in on some other purchase, but that will get you no further ahead really.

Buy it out, pay the tax and the resell it into private market?  You could make $2000 net if everything goes right. Incredible amount of scammers, nut jobs and dreamers will contact you over the car.  If you are not hard core at selling things privately it could be a move you might regret.  Gone are the days you drop an add in the Trader et al and normal and properly financed people show up.  Also be risky driving it during the sale period.  On smack and the value of the car sinks particularity that vehicle.

Unless you buy it out Toyota is going to make a tidy profit on the return.

[bridgecity]

We traded our leased CRV in on our MDX. Dealer agreed there was some equity in it based on the buyout price. MDX was at a ford dealer, just handed over the keys to them and that was that. Maybe I signed something, don’t recall. They made it easy.