I am currently negotiating an end of lease buy out. Lexus Financial Services is telling me that because I live in Florida, I must go through a dealer to arrange for the purchase.
My car is a 2006 GS 300 V6 RWD with the Nav and Mark Levison audio system upgrade package.
The car has 47,890 miles on it. My lease allows for 48,000.
The residual value on the car is 21,800.72. NADA retail value is around $24K. This is what the dealer that I am working with is telling me..
To purchase the car I have to pay:
$21,880.72 Puchase option amount.
$300.00 Fee for the preparation of paperwork.
$689 Dealer Fee
$22,869.72 Total
$ 1,463.52 Sales tax + $50.00
$ 451.00 Tag Transfer & Registration
$24,784.24 The cashiers check I have to give them.
Is this a usual deal?
P.S. They were offering me a warranty for 60K miles or 5 years from the signing date for $3,676.00, GAP insurance for $595 and miscellaneous items if I financed through Lexus Financial which pushed the whole thing up to $29,204. Financing was offered at 7.19 APR for 60 months. I have a beacon score of well over 750.
