NetEditor

It's a 2014 F-Sport with less than 34,000 miles. No negotiating on the price, but I understand that's what dealers are moving toward, I was interested in a CPO lease. The money factor was 0.00264, locked in at 15,000 miles a year, and this is supposed to be special lease terms, per Lexus' own website. The monthly payment with $2000 down was $585. I've read about people here getting much better terms. Am I missing something here?

dchar

How many months is the lease? You can lease a new 2017 F-sport at that rate.

kcstunna82

Wow that seems steep for a 2014 you definitely could get a brand new on for that price. Of course there are many other factors that play into that like location and etc.

NetEditor

36 months with 20,000 residual

dchar

Wow...in California you definitely can get a new F-sport for that price (with excellent credit).

NetEditor

The guy was saying the money factor is locked in from Lexus. But that's a ridiculous money factor. And my credit score was above 850.

kamskeez

The CPO lease rates are terrible, period. Dealers I've talked to said they can't really negotiate lease terms on CPOs, which is why nobody ends up leasing them. Dealers have tons of room on new cars though and end up giving similar or better terms on a brand new model.

NetEditor

Yeah, I was just a little surprised since some people in this very forum talked about decent CPO lease terms. Looks like I need to either go new or finance a CPO rather than lease.

kamskeez

The March sales event is right around the corner, hold off a couple weeks if you can!

SW17LS

The used lease rates were way better, looks like they've backed off from it.

AJLex19

The lease deals are just OK on the CPO 4GS's. From my local dealership, you can lease very low mileage non-F sport 2013-2014 GS's for as little as $329/month with $1875 down: http://lexusofmtkisco.com/inventory/...unt=100&page=1

I'm sure if they had any F-sports in stock, they would lease for between $400 and $500 a month.

NetEditor

Ended up financing it. I think the price wasn't all that great, but all the dealers near me have moved to fixed pricing. What convinced me to move on it was the condition. Whoever had this car before me took great care of it. It's like brand new.

tejanp

Leasing a used car that depreciates so fast just seems like a bad idea. glad you went with the financial route.

SW17LS

That's the point, used cars depreciate more slowly than new cars. In theory they should lease out great. Issue here is high money factors.

NetEditor

In theory, that should help, as a large chunk of the depreciation has already occurred in the first three years. The difference between the sales price and the residual was less than $15,000. It's the money factor that made it a very bad option.