for those who leased
12-05-06, 12:19 PM
#46
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If you finance taxes it will probably cost you about $200 more at the end than if you paid it upfront but if you put that money in stocks or a cd account you will get more profit and win at the end. Most people are talking about big downpayments because they save more money at the end but then don't think that you can invest that money if you're smart and make some profit.
OK no problem. What dealership you work in? How much you average a deal there?
12-05-06, 02:40 PM
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On the previous post with the person leasing the IS250 I didn't mean that it was a bad deal on the car it's just that IS250 doesn't have a good leasing program because in 3 years it won't be as popular as the IS350 and will depreciate more. Each dealership in each region has the same leasing program so the better the selling price the lower the payments. To find out if you got a good deal you should look at your selling price. I think that with your down payment you should be close to $500 a month or less. 4000/36= 111. 537+111=648. I could have gotten one with a spoiler, luxury package, navi, and 18" wheels for the same payment with $800 down.
12-05-06, 02:56 PM
#50
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Why are you implying to these people they got a bad deal or shouldn't have leased a 250? You don't know their credit situation, their monthly income, the selling market outside of NY, when they got their cars, excess mileage or even if there was a trade involved. If you truly work in the industry you know as well as I do these are all important factors which affect the new lease.
I know there's a great 250 lease because that's what I just got. I don't care if it's worth less than the 350 in 3 years because I will give it back to Lexus and roll right into a new one. I'm VERY happy with my lease and my car.
In any case, the only thing anyone can do now is go out and enjoy driving, don't have any regrets people- they're both great cars!
I know there's a great 250 lease because that's what I just got. I don't care if it's worth less than the 350 in 3 years because I will give it back to Lexus and roll right into a new one. I'm VERY happy with my lease and my car.
In any case, the only thing anyone can do now is go out and enjoy driving, don't have any regrets people- they're both great cars!
Last edited by AsianGirl007; 12-05-06 at 03:10 PM.
12-05-06, 03:11 PM
#51
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Why are you implying to these people they got a bad deal or shouldn't have leased a 250? You don't know their credit situation, their monthly income, the selling market outside of NY, when they got their cars, excess mileage or even if there was a trade involved. If you truly work in the industry you know as well as I do these are all important factors which affect the new lease.
I know there's a great 250 lease because that's what I just got.
In any case, the only thing anyone can do now is go out and enjoy driving, don't have any regrets people- it's still a great car!
I know there's a great 250 lease because that's what I just got.
In any case, the only thing anyone can do now is go out and enjoy driving, don't have any regrets people- it's still a great car!
12-05-06, 03:16 PM
#52
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I don't know if your in car industry but you should know that you have do have a pretty good credit to lease a car, and if you wouldn't then you would have to finance one. With leasing thre is only Tier A and Tier B program anything worse you can't lease a car. Also If you read my previously correctly I said that the deal might be good or even great but IS250s especially don't have good leasing programs. And the leasing programs are similar throughout the US.
I disagree that the 250 isn't a good lease. I looked at 250 and 350 and went with a 250 just last Friday.
Last edited by AsianGirl007; 12-05-06 at 03:20 PM.
12-05-06, 03:21 PM
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Bad credit is not just bad credit. If your credit is too low to lease there are lot of non-prime banks that will finance you and yes there are 5 tiers but only two programs. One for tier A and tier A-, and one for tiers B+,B,B- anything lower doesn't really matter how much you put down you still can lease, unless you wanna do smartbuy which is the worst out of all 3. It was a lot easier to leas and finance years back but now it's getting a lot harder to get people approved, and to get high advances from banks.
12-05-06, 03:25 PM
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Bad credit is not just bad credit. If your credit is too low to lease there are lot of non-prime banks that will finance you and yes there are 5 tiers but only two programs. One for tier A and tier A-, and one for tiers B+,B,B- anything lower doesn't really matter how much you put down you still can lease, unless you wanna do smartbuy which is the worst out of all 3. It was a lot easier to leas and finance years back but now it's getting a lot harder to get people approved, and to get high advances from banks.
You're digging yourself into a hole my friend, I have way too much Lexus leasing and financing experience over you. Let's just agree to disagree on the benefits of leasing vs. financing and shake on it, yes?
12-05-06, 03:28 PM
#55
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This has been a good thread. But there seems to be lots of misconceptions about the 'benefits' of leasing. The whole concept of leasing is based on the premise that you only pay for the portion of the cars depreciated value for the time you lease it. But that means if you lease it for say, 3 years, you will be paying the highest rates of depreciation since we all know cars take the maxium dump in value the first few years of it's life. And if you lease you pay high monthly rates FOREVER as you transition from one new car to another. To those that absolutely have to have the latest and greatest I suppose that is just the cost of doing business. But very costly indeed over the course of one's life. But I only drive 8 to 10,000 miles a year. I was fortunate to be able to put a 60% down payment on my IS350 (mainly because I haven't had any monthly payments for the last 3 years on my other cars) and have only a 36 month loan. At that time I will own my IS free and clear and will then have five years or so of NO CAR PAYMENTS WHATSOEVER. I don't need a new car every couple of years, and if you choose your car well (performance, optioned correctly and a reliable car) you can enjoy it for many years before you need to trade up. So amortized over my expected ownership of eight years or so it will be relatively cheap. And certainly cheaper than the frankly exorbitant lease conditions posted on this thread.
Fortunately for the car manufacturers the customers have been conditioned to believe they must have a new car every three years or so, so voila, the product called leasing was introduced to the mass market. Leasing can have benefits if you can take a tax deduction for a business purpose, but most leases today are financially a bad deal for most casual users over the long term. It is the cost of being able to drive the most up to date car on the market. But it is an expensive option. The thought of having to spend up to a grand a month FOREVER on a car payment is depressing, but that is what most lessees are facing.
Folks are either in one camp or the other, but the sheer structure of a lease deal means you will be paying more for a transportation experience over the LONG TERM. You pays your money, and you takes your choice.
We, as a nation, have become 'payment minimizers' (such as leasing) vs 'wealth maximizers' (like ownership). We see this everyday, not only in cars, but in houses as well. It is all based on short term enjoyment before we move on to the next experience. We have become a nation of 'renters', and we all know intuitively that renting is always the most expensive way to go through life on a long term basis.
Fortunately for the car manufacturers the customers have been conditioned to believe they must have a new car every three years or so, so voila, the product called leasing was introduced to the mass market. Leasing can have benefits if you can take a tax deduction for a business purpose, but most leases today are financially a bad deal for most casual users over the long term. It is the cost of being able to drive the most up to date car on the market. But it is an expensive option. The thought of having to spend up to a grand a month FOREVER on a car payment is depressing, but that is what most lessees are facing.
Folks are either in one camp or the other, but the sheer structure of a lease deal means you will be paying more for a transportation experience over the LONG TERM. You pays your money, and you takes your choice.
We, as a nation, have become 'payment minimizers' (such as leasing) vs 'wealth maximizers' (like ownership). We see this everyday, not only in cars, but in houses as well. It is all based on short term enjoyment before we move on to the next experience. We have become a nation of 'renters', and we all know intuitively that renting is always the most expensive way to go through life on a long term basis.
I'm leasing, and if I did buy, I'd finance, and here's why: I'd like to keep as little of my money as possible tied down in a depreciating asset. By paying as little as possible, over time, I have more money to put into a savings account, stocks, whatever else, that might go up in value during the same time. Your 60% downpayment could be invested in something far better than a car. Why not do just that for as long as you can? I don't think it's a short-term mistake - I think it's a good strategy.
And for everyone who's complaining about how no one should need a new car every 3 years and what a waste of money it is - well, you don't really need a Lexus IS either! A new car every 3 years is a luxury, just like a Lexus car is itself a luxury that any one of us could do without if we had to. It's funny when people with $40k cars lecture other people with $40k cars about spending money needlessly!
Anyway, just my two cents. I'm not saying it's a bad idea to buy. I'm just saying it's a bad idea to pay a lot of money upfront and then be happy that you are saving so much money, when in fact, you've already spent it!
12-05-06, 03:32 PM
#56
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Of course it will be a little cheaper buy It isn't a good program comparing to other cars. My dad got a 32k maxima for $349mos for 36 months with $2k down, there is no way you will get even close with a similarly priced IS250. You can get a BMW worth almost $10k more than the IS for similar payments. So the IS250 is cheaper than IS350 to lease and both are cheaper to lease than finance but that doesn't mean that you're getting a good deal. Would you rather lease a base IS350 for $640 a month a fully loaded one for the same payment? I'm sure it would be the loaded one.
12-05-06, 03:39 PM
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If there's only Tier A and B, then explain why Lexus Financial Services offers Tier 5 rates?
You're digging yourself into a hole my friend, I have way too much Lexus leasing and financing experience over you. Let's just agree to disagree on the benefits of leasing vs. financing and shake on it, yes?
You're digging yourself into a hole my friend, I have way too much Lexus leasing and financing experience over you. Let's just agree to disagree on the benefits of leasing vs. financing and shake on it, yes?
Financing rates, not leasing rates. I'll try to get a leasing program and will PM to you if I get successfull. I don't have years of experience and am only talking from what I learned currently and now how things were years back. Like you said there are advantages to both, leasing and financing, some cars should be leased some financed that's why lot of times manufacturers like kia, mitsubishi, and daewoo don't offer leasing couple of months out of a year because they won't be worth anything in couple of years.
12-05-06, 03:44 PM
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Of course it will be a little cheaper buy It isn't a good program comparing to other cars. My dad got a 32k maxima for $349mos for 36 months with $2k down, there is no way you will get even close with a similarly priced IS250. You can get a BMW worth almost $10k more than the IS for similar payments. So the IS250 is cheaper than IS350 to lease and both are cheaper to lease than finance but that doesn't mean that you're getting a good deal. Would you rather lease a base IS350 for $640 a month a fully loaded one for the same payment? I'm sure it would be the loaded one.
That is a "apples to apples" comparison. A Maxima vs. Lexus and BMW vs. Lexus are "oranges to apples" comparison - doesn't apply here.
12-05-06, 03:47 PM
#59
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Financing rates, not leasing rates. I'll try to get a leasing program and will PM to you if I get successfull. I don't have years of experience and am only talking from what I learned currently and now how things were years back. Like you said there are advantages to both, leasing and financing, some cars should be leased some financed that's why lot of times manufacturers like kia, mitsubishi, and daewoo don't offer leasing couple of months out of a year because they won't be worth anything in couple of years.
12-05-06, 03:58 PM
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IS250 w/ nav vs. IS350 w/ nav was not a little cheaper - it was a LOT cheaper. Plus less gas fill ups, less insurance, and I don't need extra horsies. It all adds up in the end. Just because I can afford a 350 doesn't mean I want it. I know my lifestyle/car needs and I'm all for saving money.
That is a "apples to apples" comparison. A Maxima vs. Lexus and BMW vs. Lexus are "oranges to apples" comparison - doesn't apply here.
That is a "apples to apples" comparison. A Maxima vs. Lexus and BMW vs. Lexus are "oranges to apples" comparison - doesn't apply here.