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How I ended up buying a 2014 Obsidian GS is a long story. My Lexus dealer was advertising a liquid platinum 2013 F Sport with ML, HUD, etc. back in Dec. it only had 13k on it. They purchased it from Lexus and it was in transit from another state when I called about it. The salesman promised to hold it until I looked at it as it had the Chardonney interior and I wasn't sure if I'd like it. He called me and said the car will be here in the next couple hours. I drove to the dealership, an hour away, and when I arrived I was greeted by the sales mgr. and told the car had just been sold over the Internet, sight unseen by the buyer. I was livid and let them know it. The salesman then pulled up the 2014 Obsidian w/o ML/HUD. I told them black was out of the question as I have had several black cars and at 64 I didn't want to deal with the constant attention black requires. I'm too **** about my cars to tolerate a layer of dust, if I can see it. And we all know how quick black looks dirty.
To smooth over the fact that they sold a car out from under me they pretty much sold me the '14 for the price of the '13. Over the winter I got this car standing tall. A Porter Cable DA polisher, Finesse It 2, Meguiares Polish and their Black Wax has her looking showroom new. But I find myself not wanting to drive it because of the work involved to get it looking good. I'm probably OCD but my last car was silver, drove it every day and would sometimes go 2 weeks without even washing it. Black, on the other hand drives me crazy. A love/ hate relationship....kinda like my wife come to think of it. So...that's why I'm interested in this other 2014. It's the color I originally wanted and of course the ML audio is amazing.
you're paying for it, if you're paying you better drive it, i would go for it.
you're paying for it, if you're paying you better drive it, i would go for it.
If I end up leasing it, it's a 15,000 mile a year lease. I will turn it in after adding 44,999 miles, so it will be driven. If I end up purchasing it I will definitely drive it more than my black one.
If I end up leasing it, it's a 15,000 mile a year lease. I will turn it in after adding 44,999 miles, so it will be driven. If I end up purchasing it I will definitely drive it more than my black one.
To me at least, the only thing that matters in a lease is the 'cost to finance'. Because the residuals are all over the place and unpredictable, it is hard to decide what the actual value of the car is in 3 years. If you 'think' that you may buy the car at lease end, then add the residual to you total monthly lease charge (minus taxes) and subtract the purchase cost and that will be the cost to finance.
I just bought my wife's GS 450h (2015), but decided to finance it because Lexus financial was doing 0.9% on CPO GS's (3-5 years). The cost to finance is so little that there is no reason to use my own money. Zero down and 1st payment was almost 6 weeks after buying the car.
Even if I wanted to sell/ trade in the car in 3 years (like a lease), I would save several thousands in finance charges, because likely no lease will match 0.9% (equivalent mf = 0.000375).
Add an additional $100 if it has a factory lip spoiler but I don't know that for certain......
So $24,250.
If I am correct...
With $1,000 at signing including the first payment ****AND MAKING THE FOLLOWING ASSUMPTIONS***:
That your sales tax is 7% on the payment like most states
That the dealer charges a $500 doc fee
That motor vehicle is $300
I have $576.26/mo
Price of the car is about right. Rates have gone up on GS CPO lease.... I stand corrected. Last one I did was a base F SPort with Navi and it was low 500s with 1st payment at signing. Come to think of it that car was around $37500... I shouldn't post while half asleep.
I apologize dude. I didn't read well. I thought you said CPO lease should be at $700.
To me at least, the only thing that matters in a lease is the 'cost to finance'. Because the residuals are all over the place and unpredictable, it is hard to decide what the actual value of the car is in 3 years. If you 'think' that you may buy the car at lease end, then add the residual to you total monthly lease charge (minus taxes) and subtract the purchase cost and that will be the cost to finance.
I just bought my wife's GS 450h (2015), but decided to finance it because Lexus financial was doing 0.9% on CPO GS's (3-5 years). The cost to finance is so little that there is no reason to use my own money. Zero down and 1st payment was almost 6 weeks after buying the car.
Even if I wanted to sell/ trade in the car in 3 years (like a lease), I would save several thousands in finance charges, because likely no lease will match 0.9% (equivalent mf = 0.000375).
Actually... for a few months we had .00001 on GSs.
You need to look at more than the money factor on a lease. Example, say I lease a 5K mile 2015 GS AWD today and do a 3 year lease.
That residual on that car is $28,325 assuming it;s a typically equipped car.
Right now I am buying 50K mile 2013s for around $24K off lease if they're nice. So, if they existed, what would a 50K mile 2012 be worth today? $21K? $22K?
The CPO lease program's subvention is, IMO, in the residual value.
I am paying $290 for a '13 with 25k on it . No money down and 15k a year in driving miles and the tire and wheel protection.
Cannot speak for a '14 however and the original sticker on my car was less, $58k I want to say.
I've got a dealer around here that's got a 2014, non-F sport model that they're advertising at $33,497. Could you crunch the numbers on it? My state is 7% tax on the payment. Car has climate, premium, nav, blind spot and park assist packages and 27,741 for mileage.
I've asked them for a zero due lease quote as I know what my truck is worth and what I owe on it, so I can factor out the math of whether it'll be feasible for me to trade in or not. I'd just like to see what number you come up with.
They do have a special posted on it for $429/mo with 3k total down, but that was when they advertised it at $37k, a $3500 difference on 36mo lease should be damn near $100 a month bringing that down to $329 prior to any other adjustments.
I've got a dealer around here that's got a 2014, non-F sport model that they're advertising at $33,497. Could you crunch the numbers on it? My state is 7% tax on the payment. Car has climate, premium, nav, blind spot and park assist packages and 27,741 for mileage.
I've asked them for a zero due lease quote as I know what my truck is worth and what I owe on it, so I can factor out the math of whether it'll be feasible for me to trade in or not. I'd just like to see what number you come up with.
They do have a special posted on it for $429/mo with 3k total down, but that was when they advertised it at $37k, a $3500 difference on 36mo lease should be damn near $100 a month bringing that down to $329 prior to any other adjustments.
Sure... this assumes that RI taxes the way that NJ does. I'll assume a $500 dealer fee like here in NJ and $300 for plates.
This assumes that the car has Nav, 18s, etc.
$440/mo with first payment at signing.
I have a suspicion that they were advertising $3,000 "down" which is plus $700 bank fee, any dealer fees, 1st payment, motor vehicle, taxes, etc. Note that in this screen shot I have a $800 doc fee capped which is a $495 doc fee plus an assumed $300 in DMV costs. I just rolled it together because, well, I was lazy.
This also assumes tier 1+ credit and I used the buy rate of .00110 which can be marked up to .00150
interesting. They actually came back at $465 for 36 on that one. They didn't break it down into the detail you did obviously.
They just recently dropped the price on that one to 32,900 and I have them looking at the numbers for a 2013 w/ 47k miles that's listing at 31,900. I think they're getting desperate to move them, but they're notorious for fluffing numbers.
The ad for the $429 lease they had with $3k down said "$3,000 total down excluding tax registration and fees". Reg is usually around $150 or so, tax is on the monthly payment so I'm not sure what the deal is with that, and the wildcard is the fees.
interesting. They actually came back at $465 for 36 on that one. They didn't break it down into the detail you did obviously.
They just recently dropped the price on that one to 32,900 and I have them looking at the numbers for a 2013 w/ 47k miles that's listing at 31,900. I think they're getting desperate to move them, but they're notorious for fluffing numbers.
The ad for the $429 lease they had with $3k down said "$3,000 total down excluding tax registration and fees". Reg is usually around $150 or so, tax is on the monthly payment so I'm not sure what the deal is with that, and the wildcard is the fees.
They came back and told me $536/36 on the 2013 with 47k miles listed at 31,900...$1k less than the 2014 with twice the miles and apparently $70 a month more for a 36 month lease. I wonder if they screwed something up or the residual is just bad on that year with that mileage.
See here's the thing...the cars that lease the best are the ones with the lowest miles, even though they're expensive. This is a Lux that I have on the lot with around 23K:
Now, here's a 54K 2013 Base (But with premium, CW 18s, etc...) that I recently sold:
Notice that even though the low mile Lux is almost $5K more the residual is SO much higher that the payment is lower?
Going up in miles is going the wrong way actually.
Interesting, so it is a function of the residual then. They've got a few others, ranging from the one at 31,900 all the way up to I think 38k. I'll have to have them run different numbers.
06-16-16, 11:59 AM
So...that's why I'm interested in this other 2014. It's the color I originally wanted and of course the ML audio is amazing.
