2014 GX460 Price Paid
12-27-13, 06:40 AM
#31
Not sure this help but I'm in the process of closing a deal at Rt. 10 Lexus on a GS, 60,233 sticker, $0.00 down, 27 month lease w/12k and I'm paying $595.00 so to me it looks like you're getting robbed.
Good luck.
Good luck.
12-27-13, 07:36 AM
#33
Thanks so much for the quick reply, Randy!
Sticker is $56974, don`t know yet the purchase price. Will call them in an hour when they open and get all the numbers.
Money factor they originally quoted was 3.84% rate or 0.0016 and residual of 68%. Tax rate is 7% and I will prepay all taxes and fees.
They originally wanted $796 per month for it and said that this is a good deal, part of "December to Remember" event but inventory is very low and GXs are sold out everywhere. I shopped around and brought a quote from a shady broker I found on LeaseTrader.com who offered $650 for the car that does not even seem to exist (Lexus dealer checked VIN and said the actual car was sold in October)... Not eve sure what the trick is here... We sat with dealer for an hour, leaving and coming back multiple times trying to negotiate, he finally agreed that he will give me the car at $650 but only if I pay 9 times monthly payment as a refundable security deposit (he explained that most of the benefit of this for them is offsetting the risk, not so much offsetting the interest).
Sticker is $56974, don`t know yet the purchase price. Will call them in an hour when they open and get all the numbers.
Money factor they originally quoted was 3.84% rate or 0.0016 and residual of 68%. Tax rate is 7% and I will prepay all taxes and fees.
They originally wanted $796 per month for it and said that this is a good deal, part of "December to Remember" event but inventory is very low and GXs are sold out everywhere. I shopped around and brought a quote from a shady broker I found on LeaseTrader.com who offered $650 for the car that does not even seem to exist (Lexus dealer checked VIN and said the actual car was sold in October)... Not eve sure what the trick is here... We sat with dealer for an hour, leaving and coming back multiple times trying to negotiate, he finally agreed that he will give me the car at $650 but only if I pay 9 times monthly payment as a refundable security deposit (he explained that most of the benefit of this for them is offsetting the risk, not so much offsetting the interest).
Term 27 months w/10K miles per year.
MSRP: 56944
Sell price: 54002
Invoice: 52386
MF: .00016
Residual: 68% (Seems awfully High)
Sales Tax: 7%
Monthly w/o tax: $655.16
Monthly w/Tax: $701.02
Also no reason for the multiple security deposits at all. If you are getting the .00016% MF, than your credit is good enough where there is not a risk.
If you are buying down the MF with the multiple security deposits, than that's a different story. I have only seen that done with BMW FS, and generally its not a good deal, unless the MF is so ridiculous where they are not offering support for the model that it makes sense. Generally you can invest the money and receive a better return then buying down the MF.
The model I built to arrive at the above numbers consisted of a base with premium package, remote engine start (Base not advanced), headlamp washers, Preferred Accessory package, all weather mats, Blind Spot Monitor, Wood Leather steering wheel and shift ****, and destination.
I'm not thrilled with this deal at all. I do believe you can do better, however you are the one buying it not me. Also, I checked their online inventory, and they did not have a single GX that matched the MSRP you listed. They had ones above and below it, not a single one dead on.
For reference, I use Ride with G's calculator for figuring things out: http://www.ridewithg.com/calculator/index.html
I find his calculator and rating system, to be very good. I also use Edmunds for building the vehicle and determining invoice.
Last Note: I totally agree with others than you need to work from invoice for any vehicle and upwards, not MSRP and downwards. Its the only way I buy or lease vehicles. Its also how I negotiated the purchase of my GX when I ordered it back in September/October.
Randy B
Last edited by Randy B; 12-27-13 at 04:50 PM.
12-27-13, 08:07 AM
#34
12-27-13, 08:09 AM
#35
Racer
12-27-13, 08:41 AM
#37
Racer
12-27-13, 04:40 PM
#39
I still say my 2014 drives better than my 2010 did and it's not just the tires. I think they gave me a fair trade in on my 2010 as well. The brake pedal doesn't have to be held down like my 2010 also. I like the blind spot detector as well as the cross traffic alert. It's not broken in yet, but I don't get the fuel mileage my 2010 did. Not sure if it's the tires or it hasn't broken in yet. The LED headlights, fog lights and running lights are also a nice upgrade.
12-27-13, 07:50 PM
#40
I walked in offered invoice and they accepted it. So my drive out price would be invoice with TDA, destination and TTL. They did not hesitate on the invoice price.
12-27-13, 11:14 PM
#41
I have 3 dealerships within 25 miles of my house and stock seems decent now. I will have to wait till spring to make an offer though.
12-28-13, 08:42 AM
#42
Driver School Candidate
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OK, took delivery yesterday, 12/27 from Prestige Lexus in Ramsey, NJ. Tungsten Pearl with black interior.
Here is the deal breakdown:
27 month lease with TTL and first month paid upfront (with NJ taxes total was 3,392.83)
0 Down
$650 per month lease
9 monthly payments ($5,850) - refundable security deposit.
Sticker: $56,974
Invoice: 54,332.25
Residual: $38,742.32
Rent Charge (what is this???): $1960.20
What do you guys think? Is this a good deal?
Planning to buy out after the lease end.
Here is the deal breakdown:
27 month lease with TTL and first month paid upfront (with NJ taxes total was 3,392.83)
0 Down
$650 per month lease
9 monthly payments ($5,850) - refundable security deposit.
Sticker: $56,974
Invoice: 54,332.25
Residual: $38,742.32
Rent Charge (what is this???): $1960.20
What do you guys think? Is this a good deal?
Planning to buy out after the lease end.
12-28-13, 09:12 AM
#43
OK, took delivery yesterday, 12/27 from Prestige Lexus in Ramsey, NJ. Tungsten Pearl with black interior.
Here is the deal breakdown:
27 month lease with TTL and first month paid upfront (with NJ taxes total was 3,392.83)
0 Down
$650 per month lease
9 monthly payments ($5,850) - refundable security deposit.
Sticker: $56,974
Invoice: 54,332.25
Residual: $38,742.32
Rent Charge (what is this???): $1960.20
What do you guys think? Is this a good deal?
Planning to buy out after the lease end.
Here is the deal breakdown:
27 month lease with TTL and first month paid upfront (with NJ taxes total was 3,392.83)
0 Down
$650 per month lease
9 monthly payments ($5,850) - refundable security deposit.
Sticker: $56,974
Invoice: 54,332.25
Residual: $38,742.32
Rent Charge (what is this???): $1960.20
What do you guys think? Is this a good deal?
Planning to buy out after the lease end.
Randy B
12-28-13, 03:34 PM
#44
OK, took delivery yesterday, 12/27 from Prestige Lexus in Ramsey, NJ. Tungsten Pearl with black interior.
Here is the deal breakdown:
27 month lease with TTL and first month paid upfront (with NJ taxes total was 3,392.83)
0 Down
$650 per month lease
9 monthly payments ($5,850) - refundable security deposit.
Sticker: $56,974
Invoice: 54,332.25
Residual: $38,742.32
Rent Charge (what is this???): $1960.20
What do you guys think? Is this a good deal?
Planning to buy out after the lease end.
Here is the deal breakdown:
27 month lease with TTL and first month paid upfront (with NJ taxes total was 3,392.83)
0 Down
$650 per month lease
9 monthly payments ($5,850) - refundable security deposit.
Sticker: $56,974
Invoice: 54,332.25
Residual: $38,742.32
Rent Charge (what is this???): $1960.20
What do you guys think? Is this a good deal?
Planning to buy out after the lease end.
As Randy said, as long as you're happy.
I'll be picking up the GS on Tuesday, leasing for 36 months 12k, $0.00 out of pocket, sign and drive for $608.00 a month. Don't care what the final price of the car is since I'll be returning it at the end of the lease. Sticker is $60,233 plus fees etc. they offered me the same car on a 27 month lease w12k for $589.00 a month.
Last edited by Eppieguy; 12-28-13 at 06:12 PM.
12-28-13, 05:49 PM
#45
Lexus Test Driver
I still say my 2014 drives better than my 2010 did and it's not just the tires. I think they gave me a fair trade in on my 2010 as well. The brake pedal doesn't have to be held down like my 2010 also. I like the blind spot detector as well as the cross traffic alert. It's not broken in yet, but I don't get the fuel mileage my 2010 did. Not sure if it's the tires or it hasn't broken in yet. The LED headlights, fog lights and running lights are also a nice upgrade.