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Old 05-07-13, 01:46 PM   #1
jpak000
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Default Deal or No Deal please help

Hello I got an offer from the dealership in arkansas for a 2013 gs350 f sport with nav. Package.
MSRP:56220, discounted price with lease credit: 50220.
Residual is 32045
MF:0.00105
Arkansas tax: 10.5%
36month lease, 15k miles per year

Monthly payments offered including tax is 686 per month with 700 due at sign on. What do u guys think? Good deal? Also anything i should watch out for before making this final? Thanks guys!
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Old 05-07-13, 03:53 PM   #2
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Originally Posted by jpak000 View Post
Hello I got an offer from the dealership in arkansas for a 2013 gs350 f sport with nav. Package.
MSRP:56220, discounted price with lease credit: 50220.
Residual is 32045
MF:0.00105
Arkansas tax: 10.5%
36month lease, 15k miles per year

Monthly payments offered including tax is 686 per month with 700 due at sign on. What do u guys think? Good deal? Also anything i should watch out for before making this final? Thanks guys!
A bit height to me. You can get another 50 off per month by a lower price by car and depending in your credit a better apr.
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Old 05-07-13, 04:17 PM   #3
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Yeah the MF is not great in that lease, not bad but not great .00105 is 2.52%.

I would go in there and tell them you need the payments to be under 650 and see how they want to structure that, my guess is that they will reduce the MF a little. Normally I would never tell you to negotiate the payment, but in this scenario it might be the most efficient way to do it.

Do you have a trade? That would offset the taxes...those taxes suck...
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Old 05-07-13, 06:36 PM   #4
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Originally Posted by jpak000 View Post
Hello I got an offer from the dealership in arkansas for a 2013 gs350 f sport with nav. Package.
MSRP:56220, discounted price with lease credit: 50220.
Residual is 32045
MF:0.00105
Arkansas tax: 10.5%
36month lease, 15k miles per year

Monthly payments offered including tax is 686 per month with 700 due at sign on. What do u guys think? Good deal? Also anything i should watch out for before making this final? Thanks guys!
Wow! When I lived in Arkansas, sales tax was about 6%, and the county portion was only assessed on the first $10K. The last car I bought in Arkansas was my 1994 SC400. I was trading in a Mercedes 500SL, so there was only minimal sales tax on the small cash difference.
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Old 05-07-13, 07:21 PM   #5
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Yeah the MF is not great in that lease, not bad but not great .00105 is 2.52%.

I would go in there and tell them you need the payments to be under 650 and see how they want to structure that, my guess is that they will reduce the MF a little. Normally I would never tell you to negotiate the payment, but in this scenario it might be the most efficient way to do it.

Do you have a trade? That would offset the taxes...those taxes suck...

The actual MSRP of the vehicle is at $57313, and I got it down to 50k, 7000 off. The final offer was 680 per month for 36months at 15k a year. This included state tax. Should I take it? Wish I could haggle it down a lil more. Also there was a 700 dollar sign on
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Old 05-07-13, 07:22 PM   #6
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Wow! When I lived in Arkansas, sales tax was about 6%, and the county portion was only assessed on the first $10K. The last car I bought in Arkansas was my 1994 SC400. I was trading in a Mercedes 500SL, so there was only minimal sales tax on the small cash difference.
I would offer zero down, zero out the door, and a payment of around $600 per month...including tax.
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Old 05-07-13, 08:18 PM   #7
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I would offer zero down, zero out the door, and a payment of around $600 per month...including tax.
how is that possible when the original msrp was 57000? i asked them to lower my payments to 600 per month including tax and all he could tell me was that they could not do any better since they've already taken out 7k and they could not change the MF.
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Old 05-07-13, 08:33 PM   #8
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I would offer zero down, zero out the door, and a payment of around $600 per month...including tax.
LOL, thats just not a realistic expectation.

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Originally Posted by jpak000
how is that possible when the original msrp was 57000? i asked them to lower my payments to 600 per month including tax and all he could tell me was that they could not do any better since they've already taken out 7k and they could not change the MF.
Its not possible.

Unless your credit is not great they can do better on the money factor. The base rate on the GS350 is .00095:

http://www.ridewithg.com/index.php/2...ates-may-2013/

So they are inflating the money factor to make up for profit. I would go in and tell them that you know the base MF on the GS from LFS is .00095 for May. You want that rate and you have a deal. Thats a pretty good lease.
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Old 05-07-13, 09:07 PM   #9
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LOL, thats just not a realistic expectation.



Its not possible.

Unless your credit is not great they can do better on the money factor. The base rate on the GS350 is .00095:

http://www.ridewithg.com/index.php/2...ates-may-2013/

So they are inflating the money factor to make up for profit. I would go in and tell them that you know the base MF on the GS from LFS is .00095 for May. You want that rate and you have a deal. Thats a pretty good lease.
My current lease, obtained at the end of April, was on a GS 350 F Sport, MSRP 58,617. 24 months, 12K miles, zero down, zero out the door, 23 payments of $595 per month, tax included.
I am in California, taxes and money factor may be different...but I think your deal can be improved upon.
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Old 05-07-13, 09:25 PM   #10
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Thats a completely different lease for several reasons:

1. Its 12k miles, his is 15k. Thats a 2% difference in residual.
2. Its 24 months, his is 36 months
3. In CA you pay a monthly use tax, in AR he has to pay 10.5% in taxes rolled into the lease. That has a HUGE impact on the payment.
4. SoCal is THE most aggressive market for a Lexus in the US. You can get a better deal in SoCal than you can anywhere else in the US. He lives in Arkansas.

Maybe he can get the MF from .00105 to .00095 but thats only going to save him $10 or so a month.

I think unless you can get a lot more off the car, this is about as good as you're going to do.
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Old 05-07-13, 10:25 PM   #11
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If you want I can check for you tom when I get to work. I work in a leasing company. I know for NY right now I'm giving people a lease for under $600 for a 27month lease with 10k miles a yr, with taxes in the payment, valid that with NY tax.
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Old 05-07-13, 10:54 PM   #12
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If you want I can check for you tom when I get to work. I work in a leasing company. I know for NY right now I'm giving people a lease for under $600 for a 27month lease with 10k miles a yr, with taxes in the payment, valid that with NY tax.
wow that would be awesome. thank you so much!
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Old 05-07-13, 11:10 PM   #13
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The actual MSRP of the vehicle is at $57313, and I got it down to 50k, 7000 off. The final offer was 680 per month for 36months at 15k a year. This included state tax. Should I take it? Wish I could haggle it down a lil more. Also there was a 700 dollar sign on
You're getting 13% off MSRP so that's great. Like someone said your interest is about 2.5% while not great it's not bad either. Great would be 1-1.5% or 0.0004-0.000625.

All the other factors are usually non negotiable like residual value and taxes. I would not focus too much on monthly payment since as someone already mentioned most people have 10-12k miles a year and you're looking for 15k so your monthly will definitely be higher.

Overall I say it's a reasonable lease.
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Old 05-07-13, 11:54 PM   #14
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Thats a completely different lease for several reasons:

1. Its 12k miles, his is 15k. Thats a 2% difference in residual.
2. Its 24 months, his is 36 months
3. In CA you pay a monthly use tax, in AR he has to pay 10.5% in taxes rolled into the lease. That has a HUGE impact on the payment.
4. SoCal is THE most aggressive market for a Lexus in the US. You can get a better deal in SoCal than you can anywhere else in the US. He lives in Arkansas.

Maybe he can get the MF from .00105 to .00095 but thats only going to save him $10 or so a month.

I think unless you can get a lot more off the car, this is about as good as you're going to do.
All good points...but the payments on a 24 month lease are usually greater than on a 36 month lease. My money factor (end of April) was 0.0005, but it may be higher in AR. The 10.5% tax addition will definitely drive the payment higher...come to California and buy a car
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Old 05-08-13, 12:37 AM   #15
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Originally Posted by jpak000 View Post
Hello I got an offer from the dealership in arkansas for a 2013 gs350 f sport with nav. Package.
MSRP:56220, discounted price with lease credit: 50220.
Residual is 32045
MF:0.00105
Arkansas tax: 10.5%
36month lease, 15k miles per year

Monthly payments offered including tax is 686 per month with 700 due at sign on. What do u guys think? Good deal? Also anything i should watch out for before making this final? Thanks guys!
What is the invoice price of your car?
What is the acquisition fee?
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Old 05-08-13, 12:37 AM
 
 
 
 
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