Lease deal '14 ES350
05-27-15, 06:05 AM
#16
Driver
Thread Starter
I am taking all your feedback under consideration. I just need to ask my questions to clarify your reasoning. But as you said, he might have tied up all the upfront cost in monthly payments which most leasee's do. That might be true but leasing a 2015 with all those options will not come out to $420/month or will it?
05-27-15, 07:18 AM
#17
Lexus Fanatic
You might be able to lease a 2015 for $420 a month (is it $420 or $400?), leases are really good right now. Only way to know for sure is to have them run the numbers on one.
So, your end goal is to buy it out. Buyout is $27,500, and you have 24 payments remaining of $400 (or $420). Lets say its $400. Thats $9,600. So total price to buy it out is $37,100, less the $1k incentive $36,100.
What does a used 2014 with these features and about 8k miles worth? Looking around, its probably worth at a max $34k.
So...like I said this isn't a good deal. You should just locate a similar car and buy it from the outset.
So, your end goal is to buy it out. Buyout is $27,500, and you have 24 payments remaining of $400 (or $420). Lets say its $400. Thats $9,600. So total price to buy it out is $37,100, less the $1k incentive $36,100.
What does a used 2014 with these features and about 8k miles worth? Looking around, its probably worth at a max $34k.
So...like I said this isn't a good deal. You should just locate a similar car and buy it from the outset.
05-27-15, 07:30 AM
#18
Driver
Thread Starter
I'll have a dealer quote out a new 2015 with similar options. Would this lease take over be a good deal if I just lease the car for 2 years?
You might be able to lease a 2015 for $420 a month (is it $420 or $400?), leases are really good right now. Only way to know for sure is to have them run the numbers on one.
So, your end goal is to buy it out. Buyout is $27,500, and you have 24 payments remaining of $400 (or $420). Lets say its $400. Thats $9,600. So total price to buy it out is $37,100, less the $1k incentive $36,100.
What does a used 2014 with these features and about 8k miles worth? Looking around, its probably worth at a max $34k.
So...like I said this isn't a good deal. You should just locate a similar car and buy it from the outset.
So, your end goal is to buy it out. Buyout is $27,500, and you have 24 payments remaining of $400 (or $420). Lets say its $400. Thats $9,600. So total price to buy it out is $37,100, less the $1k incentive $36,100.
What does a used 2014 with these features and about 8k miles worth? Looking around, its probably worth at a max $34k.
So...like I said this isn't a good deal. You should just locate a similar car and buy it from the outset.
05-27-15, 07:33 AM
#19
Lexus Fanatic
You have to lease the car for the term that makes sense. Every car model is different, some of them lease best at 27 months, some 36, some 24, some 39 or 42. Have them quote it all those ways and post the numbers here. We need:
1. Sales price
2. Purchase price
3. Residual
4. Term
5. Money factor
6. Costs added to the lease (taxes, acquisition fee, dealer fees, tags, etc)
When we have those we can tell you if its a good lease or not.
Comparing this to a new one isn't an apples and oranges comparison because this is a used car. Why do you only want to lease it for 2 years?
1. Sales price
2. Purchase price
3. Residual
4. Term
5. Money factor
6. Costs added to the lease (taxes, acquisition fee, dealer fees, tags, etc)
When we have those we can tell you if its a good lease or not.
Comparing this to a new one isn't an apples and oranges comparison because this is a used car. Why do you only want to lease it for 2 years?
05-27-15, 07:35 AM
#20
Driver
Thread Starter
Thank you for all your help. I have already emailed the dealer and will be waiting for his response.
You have to lease the car for the term that makes sense. Every car model is different, some of them lease best at 27 months, some 36, some 24, some 39 or 42. Have them quote it all those ways and post the numbers here. We need:
1. Sales price
2. Purchase price
3. Residual
4. Term
5. Money factor
6. Costs added to the lease (taxes, acquisition fee, dealer fees, tags, etc)
When we have those we can tell you if its a good lease or not.
Comparing this to a new one isn't an apples and oranges comparison because this is a used car. Why do you only want to lease it for 2 years?
1. Sales price
2. Purchase price
3. Residual
4. Term
5. Money factor
6. Costs added to the lease (taxes, acquisition fee, dealer fees, tags, etc)
When we have those we can tell you if its a good lease or not.
Comparing this to a new one isn't an apples and oranges comparison because this is a used car. Why do you only want to lease it for 2 years?
05-27-15, 07:36 AM
#21
Lexus Fanatic
No problem
05-27-15, 08:25 AM
#22
Driver
Thread Starter
Ok so I spoke to the dealer, he gave me this price for a fully loaded 2015.
Sales price - 39911
MSRP - 45212
Term - 3 years/30k
Residual - 27579
Money factor - 00070
Cost added to lease - 2253
Rebate - 1500
$435/month
Sales price - 39911
MSRP - 45212
Term - 3 years/30k
Residual - 27579
Money factor - 00070
Cost added to lease - 2253
Rebate - 1500
$435/month
You have to lease the car for the term that makes sense. Every car model is different, some of them lease best at 27 months, some 36, some 24, some 39 or 42. Have them quote it all those ways and post the numbers here. We need:
1. Sales price
2. Purchase price
3. Residual
4. Term
5. Money factor
6. Costs added to the lease (taxes, acquisition fee, dealer fees, tags, etc)
When we have those we can tell you if its a good lease or not.
Comparing this to a new one isn't an apples and oranges comparison because this is a used car. Why do you only want to lease it for 2 years?
1. Sales price
2. Purchase price
3. Residual
4. Term
5. Money factor
6. Costs added to the lease (taxes, acquisition fee, dealer fees, tags, etc)
When we have those we can tell you if its a good lease or not.
Comparing this to a new one isn't an apples and oranges comparison because this is a used car. Why do you only want to lease it for 2 years?
05-27-15, 09:00 AM
#23
Lexus Fanatic
Thats pretty doggone good. I'd work them down a little more, see if you can get it closer to $400 and I would do that all day long over assuming a used one.
05-27-15, 09:28 AM
#25
Driver
Thread Starter
05-27-15, 09:58 AM
#26
Lexus Fanatic
You can shop it with a couple other dealers, but the numbers on that make sense. I'd do that over assuming the used one.
05-27-15, 12:45 PM
#27
Lead Lap
Anything above $400 is too much for an ES lease. I know personally someone who is paying $379 a month on 2015 ES 300 h w/ Ultra Luxury package, MSRP $47,000 with $1,000 down payment. I set up this deal through my contacts at Keyes Lexus for him. My deal was ridiculous in itself buy its a purchase.
You could be driving a GS 350 for around $435 a month
You could be driving a GS 350 for around $435 a month
05-27-15, 01:57 PM
#28
Lexus Fanatic
Anything above $400 is too much for an ES lease. I know personally someone who is paying $379 a month on 2015 ES 300 h w/ Ultra Luxury package, MSRP $47,000 with $1,000 down payment. I set up this deal through my contacts at Keyes Lexus for him. My deal was ridiculous in itself buy its a purchase.
You could be driving a GS 350 for around $435 a month
You could be driving a GS 350 for around $435 a month
The math is the math. He's getting an MSRP $45,212 ES for a sales price $39,911...thats nearly 12% off MSRP. Thats a great deal. $1,500 lease rebate on top of that which makes it even better. Residual is 61%, which is correct per my sources, MF is .0007 which is correct per my sources.
If you plug those numbers into a lease calculator I get $430. How do you intend to get the payment down under $400?
05-27-15, 11:09 PM
#29
Lead Lap
There is a lot more room for flexibility in a lease deal as opposed to buy, sometimes you just get a ridiculous number. We got my sister a 2014 Mercedez E 350 MSRP 56K.. with $800 down we got it for $439 a month. She was returning a C class so i know that played a factor but if you crunch the numbers it doesnt add up but the dealer does it sometimes.
