Ok here is a senario. I am planning of leasing a 2008 Lexus IS F. I believe the promotion that Lexus is offering is 699 a month Plus Tax/License.($6995 drive off) i currently own a 2002 BMW M3 that I still owe on. Most dealerships I have been too have offered me between 16k and 14.5k. I owe around 18k which would put me between 2k-4k negative. I'm not sure what the cost cap for this type of vehicle would be. Any senarios you can think of. Maybe negotiate the price of the car? Just looking for a reasonable deal.

I also have another question regarding Leasing cars. From posts that I have read on here , leasing used cars is bad bussiness. How about a vehicle that has only 1k. I'm sure the car has not depreciated that much?Could I get a decent deal?

What gives you the idea leasing used cars is bad? You lease used for the same reason as new.

I would try and sell the M3 on your own to try and avoid the negative equity. Spring is the best time to market that car if you can hold off that long.