UCLAJimmy

iTrader: (2)

Hi I have a 2011 lexus is350 which i am trading my lease for a lexus gs350.

The payoff of the car is 32,000 for the lexus is350. The dealership is willing to take my car and give me a lease on the 2013 lexus gs350 ( 53,800 MSRP) for 1000 out of the door and 580 dollars per month including tax.

Should i take this deal?

faifai83

- What is the cash price of your vehicle?
- What is the residual?
- What is the money factor?
- What is your term?
- How many miles for the term?
- How much Security Deposit?
- How much down payment?

SW17LS

Yeah we need to know way more about the deal. We also need to know what they are giving you in trade for your IS. My guess is you are upside down.

UCLAJimmy

iTrader: (2)

What is the cash price of your vehicle? Well, I leased the 2011 lexus is350 and giving them back. While i will take the lexus gs350 from them. Lease swap.
- What is the residual?
- What is the money factor? idk
- What is your term? 36 months
- How many miles for the term?12,000 miles
- How much Security Deposit? 0
- How much down payment?
Well i just putting 1000 which include first months payment, the registration fee. 1000 drive off. basically.

Also which car is going to have a more expensive insurance: Lexus is350 or gs350.

faifai83

What about the other remaining questions?
Have you reached out to your insurance agent?

SW17LS

You need to do a lot more research into leasing before you continue doing this. You need to understand all of the numbers that go into the deal to be sure you aren't getting totally hosed. You're the consumer dealers love, because they can sell you the car for MSRP, lowball the trade and as long as the payment looks okay you'll be happy, that is the absolute worst way to deal with the purchase:

1. You need to know the MSRP of the vehicle you are leasing
2. You need to negotiate the lowest purchase price possible, and you need to know what that price is.
3. You need to know the residual, this is the projected value at the end of the lease.
4. The Money Factor is the interest rate, you need to know that, its a decimal and when multiplied by 2400 gives you an interest rate.
5. You need to know the fees, taxes, tag fees, etc.

Since you are trading in the IS, you need to know the payoff for the IS, and what they are giving you in trade.

If you don't know all the figures and aren't capable of calculating the lease based on those figures, you will get absolutely screwed. You're basically signing paperwork and entering into a costly business agreement without any understanding of the terms. The idea that anybody would do that is just....absolutely incredible to me

UCLAJimmy

iTrader: (2)

Thanks for the help. I will definitely do that. I called AAA today and they said my insurance is going to increase by 700 dollars if i get the lexus gs350. Also, if i get the lexus ct200h, my insurance goes down by thousand. LOL. Why is the insurance so expensive for gs350 compare to lexus is350. same engine

SW17LS

So much goes into it, your age, where you live, your previous driving record. No way to say for sure.

When I traded the ES for the GS mine went up like $114, so I wouldn't understand why it would go up so much going from the IS to the GS.

But please figure out these terms, and Google leasing and read everything you can read about it. You really need to understand how it works if you are going to lease. If all you ever look at is the payment, you're going to be duped over and over again.

faifai83

- How many tickets have you had?
- How many points do you have on your driving record?
- How many accidents have you had?
- How old are you?

ECL

And what is your credit score?

Joeb427

iTrader: (1)

I went from a '12 ES350 to the GS and my insurance somehow went down $58 a year.
I'm told other than tickets,accidents etc, the safety features are most important when it comes to a rate number.Medical costs are usually the biggest expense in a major accident.
Seems the GS has better safety test results than the ES.The last generation ES did not do so well with the new type testing.

ECL

I pay under $800 per year to insure my GS. Have you tried to get another quote?

SW17LS

It depends on so many factors its hard to know what the result will be, it can vary a lot depending on the insurance company too. Yours goes down slightly, mine goes up slightly coming from the same car going to the same car LOL

USAA is good insurance, but its not cheap.

Joeb427

iTrader: (1)

I have Allstate,no tickets,no points,no claims and my ES was a '12 vs your '10 if that matters that much or not due to the same bad crash test results..

SW17LS

I have Allstate too! No tickets, no claims etc. Must be the difference in where they are garaged...