Rc423

Hello Everyone,

I wanted to share this offer I received at a Dealer in NJ and see if this deal is a rip off or a good deal.

The car I was looking into is an IS250 F-Sport with options like Blindspot, Navi, And Spoiler.

MSRP: $47,797
Trade in allowance: $5000
Rebates:$500
Amount to be paid in cash to cover 1month payment, doc and bank fee:$1800

monthly payment:36 months/$490 monthly payment 10k miles

Thanks for your input.

gmanusmc

You need to provide lots more info for anyone to be able to give you input.

With what you've provided so far, that is not a good deal at all.

Info we need:

- is that the actual msrp - it's high for a 250 - are there dealer options involved?
- what is the actual selling price (cap cost in lease speak).
- is your trade paid for? If so, is the $5k a down payment? If not, how much positive or negative equity is there? If positive, is THAT being applied as a down payment?
- in your view, is the $5k a fair amount for your trade in vehicle?
- confirm that the residual is 65%
- if your credit score is good, the money factor should be .0007
- what is the sales tax rate in your location?

If you can fill us in on these missing details, we should be able to give you an idea of how good or bad this quote is.

Please don't finalize this deal until you get some folks here to weigh in - it doesn't sound like this dealer is doing you any favors.

aritweets

i got my 2015 3IS 250 for...


466/month (includes tax)
12k/year
500 down

Negotiate some more!

Rc423

Here are more detailed info I got from the dealer.

MSRP front is250: $47,797 includes. Wheel and tire protection, gold level.
Capital cost reduction: $6814
Residual value: 65%
My trade in value is a 2007 scion tc has 125,000 miles, been in two hit and run accidents and they will gve me $5000 trade in allowance.
Sales tax for the car is 1,428
My credit score is 670. Would it help if I get a co signer that has a tier 1 credit?

Rc423

And they want me to put down 1800 to cover first months payment, title as bank docs. Is there a way to avoid the bank doc fees?

gmanusmc

You still need the accurate selling price they are basing this lease on. And what is the money factor they are quoting. Not sure if you can in NJ, but instead of the cap cost reduction, you might be able to use part of the 6814 for multiple security deposits to substantially reduce the money factor thereby reducing your payment. Then pending any excess mileage/damage charges, you get the deposits back at lease end.

Recommend you google how to calculate an auto lease and get up to speed on how a lease is structured - this dealer is taking advantage of you.

Also, forget the extra dealer stuff - get a quote based only on the total sticker price that Lexus attaches to the car.

OFFICIALis

My lease is 400 a month for is250 fsport AWD loaded all I put down was 2500

LexRuger

That sounds too high. From my rough estimate with 4% interest rate you should be paying $407.

If I were you, I'd separate the Scion from the transaction because it makes things complicated and they could be making it look like you're getting a lot for your trade but are really just adding money to the new car.