Leasing Question

[Macroni]

My wife has a leased 2009 Lexus which we are returning and replacing with a leased 2011 Lexus. Question..... They are insisting that we need to again pay the bank fees to Lexus Financial. I remember reading here many moons ago that they can waive this fee. I tried searching the thread but w/ no luck. Could one of the professionals in the audience clarify this for me?

Thanks.

[Steve Carlton]

The new lease would normally have a bank acquisition fee (around $695+) and the old lease a disposition fee (around $395). Pretty common promo to waive one or the other if you lease a new Lexus. You should have been getting letters from Lexus regarding your 2009 termination and maybe some promos to lease again. Call them and ask.

Have you checked to see if your 2009 will trade in for more than the payoff?

[Macroni]

Thanks. I have been given a very nice offer where they eat the last two months and clear off the mileage overage as well as reducing the price on the new car by four thousand. The swing is in the trade in value of the 2009. It is worth between four and six thousand greater than lease buy out.

I figure the four thousand off is standard fare for any walk in. The magic is occuring between the two values of the actual car, the buy out and owner loyalty bonus.

It is pure profit to Lexus the two fees........