What would you do in this situation (Lease Ending)
My parents leased a 2015 Lexus NX200t (Luxury Package) and it's lease will be up in about 4 months. The buyback (residual) is $27, 500 plus whatever fees are involved. We're estimating it to be about $32,000 all in. The car is in great shape, no accidents and very low mileage (20,100 kms). It has a small scrape on the bumper, we think due to a careless person and their shopping trolley. My parents bought the premium paint protection (Titan Plus or whatever it's called) so that they didn't have to worry about small scrapes and rim rash, etc once the lease was up.
I've gone on AutoTrader/CBB and I figure the approx. value of the car is about $35,000 give or take a few grand, given the low mileage.
My parents offered to pass it onto us (my wife and I) and we'd take over the financing once it's lease is up through Lexus/Toyota Finance. Our only real issue with the car is that while it's a nice ride and it's got tons of great features such as front and rear collision sensors, blind spot monitoring, and neat convenience stuff (heated/cooled seats, memory seats, etc) it doesn't have the speed sensitive cruise control, lane keep assist and collision mitigation. My wife will be driving the car and she'll put on even less miles than my parents and won't really use any of those safety features as she rarely drives on the highway or leaves our little town. I personally DESPISE the trackpad interface and the infotainment system is the most garbage system i've ever used, and this is from someone whose daily driver is a '13 Forester.
We're currently looking for a new car to keep long term, I'm not sure if we're better off buying the Lexus and living without those features or buying something like an RDX/QX50, eating the cost of the new car over the finance period and keeping that long term.
What would you guys suggest/recommend. My parents were told by the Lexus salesman that the car has equity in it because of its low mileage and could actually be worth more if they traded it in or sold it outright. I can see the Lexus dealership wanting to get the car back and maybe giving my parents a few grand off a new Lexus but they're old and were so frustrated by the infotainment system/trackpad that they swore off Lexus for the rest of their natural lives lol.
I don't trust car salespeople so I figured he was angling for a sale, but even if I was to buy it out and resell it I could maybe see only making $2-4K off it and for the work and hassle it's not worth it for me.
What do you guys think?