Lease Experts/Veterans - Help!
06-09-14, 10:46 AM
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Lease Experts/Veterans - Help!
Hello everyone, so I am trying to get a lease as soon as possible (within a week or two at the latest) due to fact that I live in SoCal and may be employed soon. I've received a bunch of quotes from various dealerships and just wanted to ask those who are more experienced in negotiating what they thought.
What I am looking for:
2014 IS250 - non F // Starfire Pearl or Nebula Grey Pearl with Flaxen Nuluxe interior // Navigation w/ Premium Package // 12K miles for 24 or 27 months (might consider going up to 36)
* I qualify for tier 1 MF (quotes below are all based on .00085 MF)
** I am also female so not sure how much these guys are highballing me (if they would at all...)
Anyways, the various replies I've received:
Cerritos:
407/mo for 27 mos.
1000 total down
4100 off MSRP for 37500 purchase price
Beverly Hills:
564/mo for 27 mos. (68% RV) OR 585/mo for 24 mos. (73% RV)
1000 down
MSRP 42,008
Also Beverly Hills:
400.92/mo for 27 mos. (71% RV) OR 406.36 for 24 mos. (73% RV)
1500 down
MSRP 41,080
Price 37,831
Longo:
402.69/mo for 27 mos. (71% RV) OR 407.79/mo for 24 mos. (74% RV)
registration/delivery/fees 470
OTD 41,387.47
Glendale:
449/mo for 24 mos. (73% RV)
2500 total due at signing
I've seen people get better deals than this, so hoping you guys can help me figure out what to do and the best way to get closer to my target price of $300-$325/mo after tax. Thanks in advance!
What I am looking for:
2014 IS250 - non F // Starfire Pearl or Nebula Grey Pearl with Flaxen Nuluxe interior // Navigation w/ Premium Package // 12K miles for 24 or 27 months (might consider going up to 36)
* I qualify for tier 1 MF (quotes below are all based on .00085 MF)
** I am also female so not sure how much these guys are highballing me (if they would at all...)
Anyways, the various replies I've received:
Cerritos:
407/mo for 27 mos.
1000 total down
4100 off MSRP for 37500 purchase price
Beverly Hills:
564/mo for 27 mos. (68% RV) OR 585/mo for 24 mos. (73% RV)
1000 down
MSRP 42,008
Also Beverly Hills:
400.92/mo for 27 mos. (71% RV) OR 406.36 for 24 mos. (73% RV)
1500 down
MSRP 41,080
Price 37,831
Longo:
402.69/mo for 27 mos. (71% RV) OR 407.79/mo for 24 mos. (74% RV)
registration/delivery/fees 470
OTD 41,387.47
Glendale:
449/mo for 24 mos. (73% RV)
2500 total due at signing
I've seen people get better deals than this, so hoping you guys can help me figure out what to do and the best way to get closer to my target price of $300-$325/mo after tax. Thanks in advance!
Last edited by hiimjudi; 06-09-14 at 10:53 AM.
06-09-14, 12:32 PM
#2
I would first check in with Keyes Lexus in Van Nuys. I got a pretty good deal from them.
I got a IS350 F-Sport with Blind Spot Monitors and Mark Levinson sound for $550/month.
MSRP: $48,210 (or something close to this)
Negotiated Price: Around $43,000
MF: .00085
Residual: I think it was 71 or 72% on 12k/year
I rolled all of my fees into the monthly payment (tax, title, license, acquisition, excess wear and tear) and the only money I put down toward cap cost reduction was $500 which they gave me for my old integra I was upgrading up from.
Honestly I think the prices you listed out are pretty high. You need to agree on a cost of the car before you start talking monthly payments otherwise you're an easy target for a sales manager to pull a fast one. I was able to get 11% off msrp when I negotiated the price of the car. SoCal is pretty awesome when it comes to getting lower prices because there are so many dealers trying to earn your business.
I used this calculator: http://www.ridewithg.com/rwg-calculator/ and what I knew about residual and and money factor for the mileage I needed. Then I determined the highest price I was willing to pay for the car and aimed for a few thousand below that. Ended up getting almost exactly what I wanted.
The money factor is set by Lexus Financial as well as the residual so the only way you're going to get your payments lower is to get a low negotiated price (or cap cost reduction which is generally not something people recommend since you're essentially just prepaying part of your lease and there really is no long term cost savings as well as you lose all this money if you total the car).
Verify the payment amounts that the dealers gave you by inputting the sales figures (Money factor, residual, msrp, negotiated cost) into the calculator I mentioned above and if there is a discrepancy, then then they may be adding extra costs into the mix and not disclosing it up front.
Good luck!
I got a IS350 F-Sport with Blind Spot Monitors and Mark Levinson sound for $550/month.
MSRP: $48,210 (or something close to this)
Negotiated Price: Around $43,000
MF: .00085
Residual: I think it was 71 or 72% on 12k/year
I rolled all of my fees into the monthly payment (tax, title, license, acquisition, excess wear and tear) and the only money I put down toward cap cost reduction was $500 which they gave me for my old integra I was upgrading up from.
Honestly I think the prices you listed out are pretty high. You need to agree on a cost of the car before you start talking monthly payments otherwise you're an easy target for a sales manager to pull a fast one. I was able to get 11% off msrp when I negotiated the price of the car. SoCal is pretty awesome when it comes to getting lower prices because there are so many dealers trying to earn your business.
I used this calculator: http://www.ridewithg.com/rwg-calculator/ and what I knew about residual and and money factor for the mileage I needed. Then I determined the highest price I was willing to pay for the car and aimed for a few thousand below that. Ended up getting almost exactly what I wanted.
The money factor is set by Lexus Financial as well as the residual so the only way you're going to get your payments lower is to get a low negotiated price (or cap cost reduction which is generally not something people recommend since you're essentially just prepaying part of your lease and there really is no long term cost savings as well as you lose all this money if you total the car).
Verify the payment amounts that the dealers gave you by inputting the sales figures (Money factor, residual, msrp, negotiated cost) into the calculator I mentioned above and if there is a discrepancy, then then they may be adding extra costs into the mix and not disclosing it up front.
Good luck!
06-09-14, 02:02 PM
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I leased that exact same set up you want for my wife, this past Jan. It is a 250 RWD non F Starfire Pearl/Flaxen nuluxe with Navi/Premium/Accessory packages, BSM, and 18's.
Mine had an MSRP of $41,858 and negotiated purchase price of $36,600. My MF was 0.0011/2.64 APR (I did not use any MSDs), with a $2,000 cap reduction, $830 cap addition, RV 74% on a 27 month 10k mile lease. Total monthly $259. I got mine from Lexus of Cerritos and have tier 1 credit also.
One of the biggest factors is getting the RV as high as you can go (or low depending how you look at it). For your Cerritos quote, using a RV of 74%, cap reduction of $1,000, cap addition of $830.00, MF 0.00085/2.04 APR, 27 month term, you should be sitting at around $330 a month. For their quote of $407 a month, it looks like the RV is set at 69%.
Mine had an MSRP of $41,858 and negotiated purchase price of $36,600. My MF was 0.0011/2.64 APR (I did not use any MSDs), with a $2,000 cap reduction, $830 cap addition, RV 74% on a 27 month 10k mile lease. Total monthly $259. I got mine from Lexus of Cerritos and have tier 1 credit also.
One of the biggest factors is getting the RV as high as you can go (or low depending how you look at it). For your Cerritos quote, using a RV of 74%, cap reduction of $1,000, cap addition of $830.00, MF 0.00085/2.04 APR, 27 month term, you should be sitting at around $330 a month. For their quote of $407 a month, it looks like the RV is set at 69%.
06-09-14, 04:34 PM
#5
go to Longo Lexus and speak to Hadi. Negotiate like crazy and you'll get a much better deal. My Is250 Non F-Sport with the same packages and colors you're looking for is costing me 348 a month. (tax included). With 2000 down.
my msrp was 41,922
my msrp was 41,922
06-09-14, 05:17 PM
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I bought my Lexus from Keyes - I got a killer deal. I wouldn't go back there again though just because their CS sucks. The finance guy was a complete ******* to me. I bought mine for $46k - this information is irrelevant to you and your situation lol I apologize.
My co-worker leased his from Santa Monica. He got a 350 F-Sport Nebula Gray with ML & Nav for $2000 down and $400 monthly for a 27 month lease. I can ask him for more details for you. I forgot who his dealer was, but ask for Caitlin Cohen. She's a super nice lady and she really worked hard to match the price when I was considering leasing.
My co-worker leased his from Santa Monica. He got a 350 F-Sport Nebula Gray with ML & Nav for $2000 down and $400 monthly for a 27 month lease. I can ask him for more details for you. I forgot who his dealer was, but ask for Caitlin Cohen. She's a super nice lady and she really worked hard to match the price when I was considering leasing.
06-09-14, 06:47 PM
#7
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I would first check in with Keyes Lexus in Van Nuys. I got a pretty good deal from them.
I got a IS350 F-Sport with Blind Spot Monitors and Mark Levinson sound for $550/month.
MSRP: $48,210 (or something close to this)
Negotiated Price: Around $43,000
MF: .00085
Residual: I think it was 71 or 72% on 12k/year
I rolled all of my fees into the monthly payment (tax, title, license, acquisition, excess wear and tear) and the only money I put down toward cap cost reduction was $500 which they gave me for my old integra I was upgrading up from.
Honestly I think the prices you listed out are pretty high. You need to agree on a cost of the car before you start talking monthly payments otherwise you're an easy target for a sales manager to pull a fast one. I was able to get 11% off msrp when I negotiated the price of the car. SoCal is pretty awesome when it comes to getting lower prices because there are so many dealers trying to earn your business.
I used this calculator: http://www.ridewithg.com/rwg-calculator/ and what I knew about residual and and money factor for the mileage I needed. Then I determined the highest price I was willing to pay for the car and aimed for a few thousand below that. Ended up getting almost exactly what I wanted.
The money factor is set by Lexus Financial as well as the residual so the only way you're going to get your payments lower is to get a low negotiated price (or cap cost reduction which is generally not something people recommend since you're essentially just prepaying part of your lease and there really is no long term cost savings as well as you lose all this money if you total the car).
Verify the payment amounts that the dealers gave you by inputting the sales figures (Money factor, residual, msrp, negotiated cost) into the calculator I mentioned above and if there is a discrepancy, then then they may be adding extra costs into the mix and not disclosing it up front.
Good luck!
I got a IS350 F-Sport with Blind Spot Monitors and Mark Levinson sound for $550/month.
MSRP: $48,210 (or something close to this)
Negotiated Price: Around $43,000
MF: .00085
Residual: I think it was 71 or 72% on 12k/year
I rolled all of my fees into the monthly payment (tax, title, license, acquisition, excess wear and tear) and the only money I put down toward cap cost reduction was $500 which they gave me for my old integra I was upgrading up from.
Honestly I think the prices you listed out are pretty high. You need to agree on a cost of the car before you start talking monthly payments otherwise you're an easy target for a sales manager to pull a fast one. I was able to get 11% off msrp when I negotiated the price of the car. SoCal is pretty awesome when it comes to getting lower prices because there are so many dealers trying to earn your business.
I used this calculator: http://www.ridewithg.com/rwg-calculator/ and what I knew about residual and and money factor for the mileage I needed. Then I determined the highest price I was willing to pay for the car and aimed for a few thousand below that. Ended up getting almost exactly what I wanted.
The money factor is set by Lexus Financial as well as the residual so the only way you're going to get your payments lower is to get a low negotiated price (or cap cost reduction which is generally not something people recommend since you're essentially just prepaying part of your lease and there really is no long term cost savings as well as you lose all this money if you total the car).
Verify the payment amounts that the dealers gave you by inputting the sales figures (Money factor, residual, msrp, negotiated cost) into the calculator I mentioned above and if there is a discrepancy, then then they may be adding extra costs into the mix and not disclosing it up front.
Good luck!
Thanks so much for your insight. I do agree that all those quotes were rather high when I first read their responses. The link you provided is very helpful.
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06-09-14, 06:49 PM
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I leased that exact same set up you want for my wife, this past Jan. It is a 250 RWD non F Starfire Pearl/Flaxen nuluxe with Navi/Premium/Accessory packages, BSM, and 18's.
Mine had an MSRP of $41,858 and negotiated purchase price of $36,600. My MF was 0.0011/2.64 APR (I did not use any MSDs), with a $2,000 cap reduction, $830 cap addition, RV 74% on a 27 month 10k mile lease. Total monthly $259. I got mine from Lexus of Cerritos and have tier 1 credit also.
One of the biggest factors is getting the RV as high as you can go (or low depending how you look at it). For your Cerritos quote, using a RV of 74%, cap reduction of $1,000, cap addition of $830.00, MF 0.00085/2.04 APR, 27 month term, you should be sitting at around $330 a month. For their quote of $407 a month, it looks like the RV is set at 69%.
Mine had an MSRP of $41,858 and negotiated purchase price of $36,600. My MF was 0.0011/2.64 APR (I did not use any MSDs), with a $2,000 cap reduction, $830 cap addition, RV 74% on a 27 month 10k mile lease. Total monthly $259. I got mine from Lexus of Cerritos and have tier 1 credit also.
One of the biggest factors is getting the RV as high as you can go (or low depending how you look at it). For your Cerritos quote, using a RV of 74%, cap reduction of $1,000, cap addition of $830.00, MF 0.00085/2.04 APR, 27 month term, you should be sitting at around $330 a month. For their quote of $407 a month, it looks like the RV is set at 69%.
Last edited by hiimjudi; 06-09-14 at 07:00 PM.
06-09-14, 07:02 PM
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I bought my Lexus from Keyes - I got a killer deal. I wouldn't go back there again though just because their CS sucks. The finance guy was a complete ******* to me. I bought mine for $46k - this information is irrelevant to you and your situation lol I apologize.
My co-worker leased his from Santa Monica. He got a 350 F-Sport Nebula Gray with ML & Nav for $2000 down and $400 monthly for a 27 month lease. I can ask him for more details for you. I forgot who his dealer was, but ask for Caitlin Cohen. She's a super nice lady and she really worked hard to match the price when I was considering leasing.
My co-worker leased his from Santa Monica. He got a 350 F-Sport Nebula Gray with ML & Nav for $2000 down and $400 monthly for a 27 month lease. I can ask him for more details for you. I forgot who his dealer was, but ask for Caitlin Cohen. She's a super nice lady and she really worked hard to match the price when I was considering leasing.
06-09-14, 07:45 PM
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Go to Cerritos Lexus with my numbers and ask them to match it since you have tier 1 credit. If you are willing to drop the mileage to 10k a year, then you should get it. Mine wasn't during any kind of incentives or special sales deals, so I don't know why they wouldn't match it.
06-10-14, 05:21 PM
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Following is the Quote I received when I asked my guy in Longo last Dec for my co-worker (I leased 350 f-sport from him) Well it's June now , so you might do worse, or better who knows. Ask for David Song if u want 
Good luck
> Here are some numbers for IS250 with navigation, blind side monitor, 18"
> Aluminum wheels and premium package.
>
> MSRP; $41,858
>
> 36month with 12,000miles
> 9 refundable security deposits
> $1,000 drive off (no drive off possible)
>
> Payment 35x$317+tax=$345 (base on l.a county tax)
>
> Thank you have a bless day!
edit: to explain that it says 35 payment because lexus was paying 1st month payment.
Good luck> Here are some numbers for IS250 with navigation, blind side monitor, 18"
> Aluminum wheels and premium package.
>
> MSRP; $41,858
>
> 36month with 12,000miles
> 9 refundable security deposits
> $1,000 drive off (no drive off possible)
>
> Payment 35x$317+tax=$345 (base on l.a county tax)
>
> Thank you have a bless day!
edit: to explain that it says 35 payment because lexus was paying 1st month payment.
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