gmanusmc

We are unable to provide an accurate assessment of this deal unless we have a detailed accounting of all details that it includes: Total msrp, selling price, all fees, tax rate, lease term/mileage, accurate money factor, residual and, the negative equity that is being rolled into the lease.

If you don't already, please understand that if you execute this lease, you essentially are paying two payments - the normal payment for this car and a smaller payment tacked on that is finishing paying for the vehicle you are trading.

All that being said, it seems like you are confused by the info the dealer reps are providing you. I recommend that you insist on a sit down meeting with the finance folks and have them show you a line by line breakdown of all the figures that make up the structure of the lease for 24, 36, and 48 months. Ask for an explanation for anything on the breakdowns you don't understand and anything that looks inconsistent between the different lease lengths.

starbai

iTrader: (1)

Thank you for the input, its much appreciated! I have a call scheduled with the desk manager that wrote my deal up later on this afternoon and will try to get a break down of everything over the phone. If I am unable to I will request and plan a sit down like you are describing.

I understand that I will still be paying off the negative equity from my trade, there is nothing I can do about that. My goal was to have it incorporated and in 3 years just be done with this car and the negative equity and start with a clean slate. The factors I've been given are all based on 48 months, I will ask for a clear explanation of the differences next. thanks again.

gmanusmc

Sounds good - i think by doing this, they might sense the possibility of the deal unraveling and be inclined to improve the deal a bit for you. That $2500 thing for the 36 month term seems way out of place.

G8rGirl

How did your negotiations work out?

starbai

iTrader: (1)

I agree, I had a quick conversation with the 'desk manager' over the phone yesterday evening and I was told that the $50,350 cap cost included a $700 acquisition fee AND my negative trade value. He says that the residual was 62% not 63% as I had assumed (makes sense as I'm looking for 15,000 miles not 12,000) and that the money factor remained the same 0.00065.

That said, my math now said $614/mo (doable) and his math said $644. I still don't understand why and neither did he. Bottom line is he wanted to get with a finance manager and discuss but since its the last day of the month, he asked if we could table the discussion until Monday once the new month has begun and they were not as swamped on deals they were trying to close by month end. (Car doesn't arrive at the dealership until 8/20 anyway). I do understand the request and decided to oblige. Will report back on Monday.

Thanks again!

gmanusmc

Looks like you are making progress - I think you will get to where you want to be when all is said and done. The $700 acquisition fee is standard on all Lexus leases - in fact, all leases have some sort of acquisition fee. When you get close to finalizing the deal, bring the numbers here so we can let you know how it looks.

FSportAJL

MSRP 48000 2015 IS 350 F Sport Ultra White/Rioja Nav/BSM. Got them to 1,000 down at 450 a month taxes included. 27 Months 10K miles a year. Good deal?

gmanusmc

Welcome to the forum.

Sounds like a good deal but to be sure, need selling price, residual, and money factor.

2015isboy

If you put down 3k on a lease does that come off the MSRP?

is350 MSRP 48000-3000 down payment gross capitalized cost is now 45000K without negotiation. Or is this incorrect?

Please let me know.

Thanks!

gmanusmc

The answer to your question is yes but by the nature of your question, you might be well served to research how auto leases are structured and computed before talking to a dealer. Depending on your location and market, you should be able to get a sizeable discount off msrp which will have an affect on your lease payment. Also, if you live in a location that allows multiple security deposits, use the 3000 for that instead of down payment - that will lower your money factor which in turn lowers your payment. As you can see, there can be much to learn about leasing - the good news - you can learn it here and in other forums. Just let us know what kind of deal you are looking for.

2015isboy

Its nice to see a member this committed to help. I will consult you on my next lease.

darr

Thanks everyone for all your advice in this thread. I ended up going with the 2015 Lexus ES300H after I found out the is350f sport needs premium gas, bad gas mileage, and tires has to be replaced around 25k since they're staggered. It is very nice so far.

Here are my numbers:
2015 Lexus ES300H

Market Value : 47763
Dealer discount: 8663
Vehicle price (after rebate) 39,100

Rebate: 2500
Residual: 27,224.91

15k miles, 36 months
3 MSDs: 1500
Base MF: 0.00035
Money factor(After MSD): 0.00011
Tax: 9%
Location: Los Angeles, CA

1st month free
Monthly payment: $452 with Excess Wear & Use Protection Plan and all fees and taxes included.
All I paid up front was the 3 MSDs at $1500

ilu21

Stupid good deal, I'm looking to get the same deal. Can you PM the dealer info? I'm in SoCal if that matters, but I'm willing to travel up to Norcal to get this kind of deal.

Also, how did you go about negotiating for this deal? Did they try to herky jerky you?

J3ffrey

How's this deal that I put a deposit down on yesterday? Let me know if it sucks so I can go renegotiate.

2016 IS350 FSport AWD Ultrasonic blue mica:

Radar Cruise control
Navi
Heated steeringwheel
Precollision crash system
Silver trim
Cross traffic monitoring (whatever that is?)
I think it's got pretty much the best of everything but I don't know if it's has the better stereo.
etc etc.

10k/ 36 months
Per month including tax: 466.56
1st month payment: 0.00
Refundable Security Deposit:4275
Acquisition Fee: 700
Dealer Conv. fee: 499
Sales Tax:120.36
VIN ETCH option (wtf is this?): 179
Registration: 178

Total: 5984.92

Money factor of .00028
Residual percentage of 66%

Somewhere in there is the 1999 down (december to remember) and the first months payment without tax (433) being covered by lexus.

One thing to throw in is that they offered me 9500 for my pretty beat up 2007 IS 250 (that I got from a friend for 15k) so in the end I'm walking away with a check for 3400, it's covering the Refundable security deposits (9) and the 1999 down.

I'm basically walking out of the dealership paying 35 payments of 466.56, a check in hand for 3400 and at the end of the lease a check for 4275.

Can anyone here even begin to tell me if this is a good deal or not?

gmanusmc

On the surface, looks decent - need the msrp and agreed sale price to get a better idea. I'm not a fan of whatever that conv fee is or the useless etch charge.