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Lexus Gives LFA Lease Scheme the Ax, Customers Can Now Buy the Supercar Outright

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On: Wed, Aug 11, 2010 at 3:09PM | By: Chris Weiss

Lexus Gives LFA Lease Scheme the Ax, Customers Can Now Buy the Supercar Outright

Lexus had previously made a small stir when it announced that U.S. customers would only be able to lease the $375,000 LFA. The idea was to offer the car through a mandatory, two-year lease to prevent us profit-minded Americans from buying and flipping the car, negatively impacting the "ownership experience." Today, the company announced that it is reversing this policy and offering the LFA for regular sale. However, owners wishing to sell the car within the first two years must get the go-ahead from the dealership they bought it from.

Last November, Brian Smith, vice president of sales and dealer development for Lexus was quoted in Automotive News describing the reasoning behind the two-year lease: “If someone buys it the first month and then decides to sell it, that could be damaging for the ownership experience. If it is not controlled and hits the speculation market, all bets are off. We want people out driving the car and not parking it in a museum or selling it at an inflated price."

As stipulated by Lexus, U.S. customers would have to lease the LFA for two years, and only after those two years were up would they be able to buy the car out.

With its latest move, Lexus will still be protecting its ownership experience, but will be doing so in a less restrictive way that allows customers the option to buy the LFA. Those that buy the LFA will have to sign an agreement that requires the owner to offer to sell the car back to the dealer for market value or "as new" price should the owner decide to sell within the first two years. If the owner does not comply with these terms, he'll owe the difference between the original sale price and the secondary sale price--plus legal fees--to Lexus. With the signing of the agreement, the LFA will be available for financing or outright purchase.

The Lexus LFA is a limited edition, 500-run supercar that features 552 horses and 354 lb-ft worth of 4.8-liter V10 power. The car dashes to 60 mph in 3.5 seconds and tops out at 202 mph.

Production on the LFA will begin late this year. Lexus has already sold out of the 500 LFA models it promised to build, earlier this year.

In the video below, you can watch an LFA take on the former Japanese powerhouse: the Nissan GT-R in an interesting little experiment from Motor Trend.


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