New to the site, looking to lease a 2015 IS 250 F-Sport!
#1
Lexus Test Driver
Thread Starter
New to the site, looking to lease a 2015 IS 250 F-Sport!
Hey guys, I'm in the negotiating phase of the lease. He sent me a decent offer:
MSRP:
$44,313
Invoice
$37,475
Residual
$29,426 (66%)
Money factor
.00105 ?not sure
@36 months
$2k down @ $375/m
He didn't mention the MF rate or the break down on the drive off fees. I'm assuming that's where the $2k comes to play. What you guys think? I think the deal could be a little better. My budget sure thinks so!! I have great credit in Socal.
Thanks!
*I'm learning a lot about leases though this forum!
MSRP:
$44,313
Invoice
$37,475
Residual
$29,426 (66%)
Money factor
.00105 ?not sure
@36 months
$2k down @ $375/m
He didn't mention the MF rate or the break down on the drive off fees. I'm assuming that's where the $2k comes to play. What you guys think? I think the deal could be a little better. My budget sure thinks so!! I have great credit in Socal.
Thanks!
*I'm learning a lot about leases though this forum!
#2
Check out the pricing thread, a lot of strategy/guidance there for financing. High level guidance... aim for 10-12% off MRSP, maximize your MSDs, and I believe the residual is too low in your post (I thought people were getting 72% over 36 months).
#5
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What is the quoted purchase price?
Based on an MSRP of $44,313, purchase price of $39,000 (I am guessing), $2,000 cap reduction (down), $830 cap additions (acquisition fee/doc fee/lic fee), MF of .00105 (2.52 APR), and RV of 66%, your monthly would be about $336 a month. Total cost at end of 36 months would be $14,225.
Based on an MSRP of $44,313, purchase price of $39,000 (I am guessing), $2,000 cap reduction (down), $830 cap additions (acquisition fee/doc fee/lic fee), MF of .00105 (2.52 APR), and RV of 66%, your monthly would be about $336 a month. Total cost at end of 36 months would be $14,225.
Last edited by Lost808; 12-11-14 at 12:20 PM.
#6
Lexus Test Driver
Lost808 has it pretty well calculated for you. Don't use the $2k for up front costs - use it and maybe add some to pay multiple security deposits (msd's) - each msd up to 9 reduces the money factor by .00008 which will significantly lower your payment. You receive the deposits back at end of lease minus any excess miles/damage charges. Also, consider 24 or 27 month term - the payment might even be less than the 36 month term because of the higher residual %. You can always extend the lease if you want to keep the car a little longer.
Good luck and let us know how you make out.
Good luck and let us know how you make out.
#7
Lexus Test Driver
Thread Starter
Thanks guys!Is the sale price the agreed price plus tax? He just sent me the internet price of $37475. I thought it was decent since the car is in demand. i'm tempted to get a IS 350 F-Sport but seems like they're sold out! I would probably be paying in the high $400's? I wonder how he calculated the monthly of $375, he said something about $349 plus tax. I'm probably going to a local dealer to see what they can do. They said they can beat it. Hopefully I can get the $326 payment! I'm planning to go to a not so busy dealer to see! Wish me luck!
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#8
Lexus Test Driver
Thread Starter
What is the quoted purchase price?
Based on an MSRP of $44,313, purchase price of $39,000 (I am guessing), $2,000 cap reduction (down), $830 cap additions (acquisition fee/doc fee/lic fee), MF of .00105 (2.52 APR), and RV of 66%, your monthly would be about $336 a month. Total cost at end of 36 months would be $14,225.
Based on an MSRP of $44,313, purchase price of $39,000 (I am guessing), $2,000 cap reduction (down), $830 cap additions (acquisition fee/doc fee/lic fee), MF of .00105 (2.52 APR), and RV of 66%, your monthly would be about $336 a month. Total cost at end of 36 months would be $14,225.
#10
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Based on an MSRP of $44,313, purchase price of $37,475, $2,000 cap reduction (down), $830 cap additions (acquisition fee/doc fee/lic fee), MF of .00105 (2.52 APR), and RV of 66%, your monthly would be about $288 a month. Total cost at end of 36 months would be $12,500.
When I leased my wifes 14 250 a year ago, we did not plan on buying it at the lease end, so I negotiated a higher RV% and got it set at 74%. The higher the RV %, the lower your monthly payments will be, but the higher the lease end buyout will be if you decided to keep the car.
#11
Lexus Test Driver
Thread Starter
Ok, based on the purchase price of $37,475, you should be looking at a monthly of $288.74ish.
Based on an MSRP of $44,313, purchase price of $37,475, $2,000 cap reduction (down), $830 cap additions (acquisition fee/doc fee/lic fee), MF of .00105 (2.52 APR), and RV of 66%, your monthly would be about $288 a month. Total cost at end of 36 months would be $12,500.
When I leased my wifes 14 250 a year ago, we did not plan on buying it at the lease end, so I negotiated a higher RV% and got it set at 74%. The higher the RV %, the lower your monthly payments will be, but the higher the lease end buyout will be if you decided to keep the car.
Based on an MSRP of $44,313, purchase price of $37,475, $2,000 cap reduction (down), $830 cap additions (acquisition fee/doc fee/lic fee), MF of .00105 (2.52 APR), and RV of 66%, your monthly would be about $288 a month. Total cost at end of 36 months would be $12,500.
When I leased my wifes 14 250 a year ago, we did not plan on buying it at the lease end, so I negotiated a higher RV% and got it set at 74%. The higher the RV %, the lower your monthly payments will be, but the higher the lease end buyout will be if you decided to keep the car.
#12
Just say you're determined not to put any money down. Walk away and go compare numbers to another dealer.
#14
I went through SoCal dealers, from Ventura all the way down to San Diego. I made a spreadsheet with the contacts and offers from each of those dealers. Found the best deal in Santa Monica.
All of these done through internet sales managers.
All of these done through internet sales managers.
#15
Lexus Test Driver
Thread Starter
That's what I've been doing to through email. Some dealers don't want to give numbers unless you're there though. What deal did you get? I was going to drive to Longo from San Diego but they sold my car! Have to wait til next week for the shipment!