[greglepore]

To pile on, the banks are usually pretty smart. Unless the market significantly changes (ev's a good example) leases are engineered to have a significant profit. They make sense if there's a write off involved, or you're just the type that always wants a new car or car in warranty.

I would argue that none of this is relevant to the current decision. The residual is essentially wholesale. She has the added bonus of knowing the history and usage of the vehicle. Yeah, she's a pile of $$ underwater, but that's the case either way, unless she's going to go buy a 15k used car rather than buying out the Lexus. But I think you know that...it's certainly eye opening though.