2017 GS 350 F-Sport Lease Deal? Need help!
01-19-17, 08:36 PM
#1
Driver School Candidate
Thread Starter
2017 GS 350 F-Sport Lease Deal? Need help!
Hi, I am looking lease a 2017 GS 350 F-Sport this weekend and wondering what lease deal others got.
I was offered $580 /month, 3 year, 2.9 apr, with 9k down on a MSRP $58,970. It seem high to me, what's your thoughts?
I was offered $580 /month, 3 year, 2.9 apr, with 9k down on a MSRP $58,970. It seem high to me, what's your thoughts?
Last edited by 415; 01-19-17 at 08:44 PM.
01-20-17, 05:53 AM
#2
How many miles per year?
$9k cash down on a lease and getting $580? Did I understand that right? If so, that is incredibly absurd.
Do some research on how leases work.
Pieces of a lease:
MSRP - Fixed
Selling Price - Negotiable
Selling fees (doc fees, bank fees, etc) - Generally fixed
Total Cap Cost = Selling price + fees
Net cap cost = Total cap cost - any initial payment you make
Money Factor (MF) or APR - If financing through LFS, they give dealerships rates, but dealers are allowed to mark this up for extra profit.
Multiple Security Deposits (MSD) - Not sure if Lexus offers this, but this is a security deposit to lower the MF in exchange for a certain number of monthly payments in advance as a security deposit, which you get back at lease end.
General rule of thumb: don't put down any money down on a lease. In the event the car is totaled/stolen, you will almost always lose your down payment - If you simply have higher payments, you simply stop making payments once the insurance company writes the car off and sends the check -- GAP insurance covers the underwater portion of your lease.
I suggest looking at edmunds lease forums in order to get what the current incentives and MF LFS has going. Also LeaseHackr is a good resource for calculating payment. Always get these nitty gritty numbers from a dealership -- They know that most consumers don't know how leases really work, and take advantage of that by sneaking all sorts of things into a deal and just presenting the customer with the resulting payment with a bow on top.
$9k cash down on a lease and getting $580? Did I understand that right? If so, that is incredibly absurd.
Do some research on how leases work.
Pieces of a lease:
MSRP - Fixed
Selling Price - Negotiable
Selling fees (doc fees, bank fees, etc) - Generally fixed
Total Cap Cost = Selling price + fees
Net cap cost = Total cap cost - any initial payment you make
Money Factor (MF) or APR - If financing through LFS, they give dealerships rates, but dealers are allowed to mark this up for extra profit.
Multiple Security Deposits (MSD) - Not sure if Lexus offers this, but this is a security deposit to lower the MF in exchange for a certain number of monthly payments in advance as a security deposit, which you get back at lease end.
General rule of thumb: don't put down any money down on a lease. In the event the car is totaled/stolen, you will almost always lose your down payment - If you simply have higher payments, you simply stop making payments once the insurance company writes the car off and sends the check -- GAP insurance covers the underwater portion of your lease.
I suggest looking at edmunds lease forums in order to get what the current incentives and MF LFS has going. Also LeaseHackr is a good resource for calculating payment. Always get these nitty gritty numbers from a dealership -- They know that most consumers don't know how leases really work, and take advantage of that by sneaking all sorts of things into a deal and just presenting the customer with the resulting payment with a bow on top.
01-20-17, 06:31 AM
#3
Driver School Candidate
Those number you provided indicates a total cost of $30,000 in down payment and payments to drive that car for 3 years.
I would bet you can find a brand new 2016 GS350 F Sport for around $10K to $13K off MSRP. I am not aware of any difference between the 2016 and 2017.
Lets assume you buy a 2016 for $49K out the door price. Drive it for 3 years and sell it for about $30K. You just saved $11K over what you would spend on the lease.
I would bet you can find a brand new 2016 GS350 F Sport for around $10K to $13K off MSRP. I am not aware of any difference between the 2016 and 2017.
Lets assume you buy a 2016 for $49K out the door price. Drive it for 3 years and sell it for about $30K. You just saved $11K over what you would spend on the lease.
01-20-17, 09:07 AM
#4
Driver School Candidate
Thread Starter
12k per year
How many miles per year?
$9k cash down on a lease and getting $580? Did I understand that right? If so, that is incredibly absurd.
Do some research on how leases work.
Pieces of a lease:
MSRP - Fixed
Selling Price - Negotiable
Selling fees (doc fees, bank fees, etc) - Generally fixed
Total Cap Cost = Selling price + fees
Net cap cost = Total cap cost - any initial payment you make
Money Factor (MF) or APR - If financing through LFS, they give dealerships rates, but dealers are allowed to mark this up for extra profit.
Multiple Security Deposits (MSD) - Not sure if Lexus offers this, but this is a security deposit to lower the MF in exchange for a certain number of monthly payments in advance as a security deposit, which you get back at lease end.
General rule of thumb: don't put down any money down on a lease. In the event the car is totaled/stolen, you will almost always lose your down payment - If you simply have higher payments, you simply stop making payments once the insurance company writes the car off and sends the check -- GAP insurance covers the underwater portion of your lease.
I suggest looking at edmunds lease forums in order to get what the current incentives and MF LFS has going. Also LeaseHackr is a good resource for calculating payment. Always get these nitty gritty numbers from a dealership -- They know that most consumers don't know how leases really work, and take advantage of that by sneaking all sorts of things into a deal and just presenting the customer with the resulting payment with a bow on top.
$9k cash down on a lease and getting $580? Did I understand that right? If so, that is incredibly absurd.
Do some research on how leases work.
Pieces of a lease:
MSRP - Fixed
Selling Price - Negotiable
Selling fees (doc fees, bank fees, etc) - Generally fixed
Total Cap Cost = Selling price + fees
Net cap cost = Total cap cost - any initial payment you make
Money Factor (MF) or APR - If financing through LFS, they give dealerships rates, but dealers are allowed to mark this up for extra profit.
Multiple Security Deposits (MSD) - Not sure if Lexus offers this, but this is a security deposit to lower the MF in exchange for a certain number of monthly payments in advance as a security deposit, which you get back at lease end.
General rule of thumb: don't put down any money down on a lease. In the event the car is totaled/stolen, you will almost always lose your down payment - If you simply have higher payments, you simply stop making payments once the insurance company writes the car off and sends the check -- GAP insurance covers the underwater portion of your lease.
I suggest looking at edmunds lease forums in order to get what the current incentives and MF LFS has going. Also LeaseHackr is a good resource for calculating payment. Always get these nitty gritty numbers from a dealership -- They know that most consumers don't know how leases really work, and take advantage of that by sneaking all sorts of things into a deal and just presenting the customer with the resulting payment with a bow on top.
01-20-17, 09:46 AM
#5
OP where are you located in CA? About 3 weeks ago I was able to get a 2016 GS350 F Sport from a dealer in Los Angeles area for less than $49,000 out the door (MSRP about: $58,500). Went to my credit union and got 1.49%. No down and monthly is about $935 with GAP for 54 months.
01-20-17, 12:16 PM
#6
Driver School Candidate
Thread Starter
OP where are you located in CA? About 3 weeks ago I was able to get a 2016 GS350 F Sport from a dealer in Los Angeles area for less than $49,000 out the door (MSRP about: $58,500). Went to my credit union and got 1.49%. No down and monthly is about $935 with GAP for 54 months.
01-20-17, 01:26 PM
#7
Lexus Champion
Depending on your credit, you should get a much better deal than that, especially in CA...with excellent credit, it should be closer to $0 down and in the high $500s to mid $600s for a 36 month lease and 12K miles for a 2017MY with that MSRP.
The GS is one of the most unpopular models and they discount it heavily in CA due to heavy competition from many dealers.
The GS is one of the most unpopular models and they discount it heavily in CA due to heavy competition from many dealers.
Last edited by dchar; 01-20-17 at 01:32 PM.
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01-20-17, 02:32 PM
#8
Depending on your credit, you should get a much better deal than that, especially in CA...with excellent credit, it should be closer to $0 down and in the high $500s to mid $600s for a 36 month lease and 12K miles for a 2017MY with that MSRP.
The GS is one of the most unpopular models and they discount it heavily in CA due to heavy competition from many dealers.
The GS is one of the most unpopular models and they discount it heavily in CA due to heavy competition from many dealers.
Definitely bring in another dealership or two into the mix - try going through their internet sales department. I'd even suggest cross shopping different markets (like Seattle, Portland, SoCal) and having the car shipped to you if the SF dealerships aren't budging. The 2017 GS isn't a new or hot model, no reason for the total lease cost to be that high
01-20-17, 04:13 PM
#10
Depending on your credit, you should get a much better deal than that, especially in CA...with excellent credit, it should be closer to $0 down and in the high $500s to mid $600s for a 36 month lease and 12K miles for a 2017MY with that MSRP.
The GS is one of the most unpopular models and they discount it heavily in CA due to heavy competition from many dealers.
The GS is one of the most unpopular models and they discount it heavily in CA due to heavy competition from many dealers.
01-20-17, 06:42 PM
#11
Lead Lap
California is different. Every low lease payment we see on here, the owner lives in CA.
01-21-17, 08:51 AM
#12
Depends on how the deal is structured - Usually the dealership wants you to do at least first month payment and license/registration fees upfront. Dealerships shouldn't have an issue with rolling all other costs (taxes, inception fees, doc fees, etc) into the "selling price" of the car, so that you're paying for it over time.
$0 due at signing isn't uncommon either, but usually that is more typical when the manufacturer offers it, or the dealership does some creative math so that they pay everything for you, and then add the extra costs into the net cap cost of the car.
$0 due at signing isn't uncommon either, but usually that is more typical when the manufacturer offers it, or the dealership does some creative math so that they pay everything for you, and then add the extra costs into the net cap cost of the car.
01-21-17, 03:21 PM
#13
best of luck tho...maybe shop around...
01-21-17, 07:42 PM
#14
I got a lease quote from a dealer I've done business with before. I deal direct with the sales manager and he gets right to the bottom line with me. Here in Texas, no money down, 2017 with ML and HUD (about $62k MSRP) three years and 15,000 per year was a hair over $900 a month. He was upfront and told me to wait, they have no good lease deals right now. BTW, that was with very little sales tax due to the value of my trade. I think it would have been possible to push it down to high 800s, but he was pretty close to the bottom.
01-22-17, 12:22 AM
#15
Originally Posted by jjscsix
I got a lease quote from a dealer I've done business with before. I deal direct with the sales manager and he gets right to the bottom line with me. Here in Texas, no money down, 2017 with ML and HUD (about $62k MSRP) three years and 15,000 per year was a hair over $900 a month. He was upfront and told me to wait, they have no good lease deals right now. BTW, that was with very little sales tax due to the value of my trade. I think it would have been possible to push it down to high 800s, but he was pretty close to the bottom.