htm2112

So, I visited Lexus of Nashville and was initially given a poor leasing arrangement whose numbers are not worth mentioning. After some arguments, mostly with me specifying that I was aware of some key terms in the lease that they initially would not disclose to me, like the money factor and residual rate, I was presented with another lease option for a 2015 IS 350.

MSRP: $46,262
Discount: $2100
Rebate: $500
Adjusted Price: $43,664
Transport Fee: $700 (the car I wanted was not in stock)

Cash down: $6000 ($4000 for my trade and $2000 from me)
Money Factor: .00085 (My credit is 805. I believe I should have MF of .0006)
Residual Value after 36 months: 63%

Monthly Payment: $402

As to the transport fee, they raised my $3500 trade in to $4000 so that I would really only be paying $200 for the transport.

I decided that this was an average deal and decided to walk away for now. What do you all think of these numbers and my decision?

coldsoda

there are a couple other lease threads on here, you will want to read those also for more reference. $6k down is a LOT unless that includes MSDs... check these threads out:

https://www.clublexus.com/forums/is-...-prices-9.html

https://www.clublexus.com/forums/is-...350-a-126.html

htm2112

The 6k down does not include any MSDs.

is300sport

read the other threads about pricing.
I would NOT put any money down on a lease. I would put MSD down. why don't you contact FL dealers (tampa, Pembroke pines, jmlexus, etc) and ship the car. if a dealer is not forthcoming then thats a sign.

JDMUSCLE

iTrader: (1)

Good decision to walk away.. Take your trade equity back and don't put anything down. On a 46k car you should be around 450 to 460 sign and drive from what I see as a good deal. Lexus has a deal to make first payment now as well. So you should be able to just sign and not give a single dollar out of pocket and get around 450. But then again that's what I see around here in TX and the forums. Not exactly sure how the market in your area is...

gmanusmc

Agree with JDMUSCLE - do they allow MSDs in TN? If so, max them out to lower the money factor to almost nothing and get your deposits back at the end of the lease. Also, I'm not familiar with your market but at this stage of the model year, try pushing for at least 10% off msrp for the selling price.

Let us know how it goes.

htm2112

Thanks JDMUSCLE. All my research indicates the same thing: I should get about 10% off MSRP and not put anything down, especially with a credit rating of 805. My payment should be about 450. I'll keep working it until I find that deal.

bpguns

You can definitely do better than $450 even outside of CA. I got mine to $385/mo on MSRP of $47,519 with 8 MSDs (zero actual down payment though), and with a 738 credit score. Others have done even better than that. Just be firm - you know what other deals people have gotten, 2016's are coming out soon, and it's the end of the month. You should get $500 lease cash and complimentary 1st month's payment too - if possible, I would wait until you get the price down where you want, then bring up the lease cash and complimentary payment incentives for even more savings

Kov

everything this man said

JDMUSCLE

iTrader: (1)

I think TN is one of those states where you pay taxes on the whole car and not just the payments. I ran my exact same lease at a Ny store and a TX store and the difference with everything being the same was about 95 bucks the minute i used a Texas zip code. I'm sure deals can be much better given if MSDs are allowed in his state..

Most dealers around here start with quoting the lease assistance and the complimentary 1st month payment from the first pencil back to the customer...

BB725

MSD's are completely different.

.0006 money factor is not even heard of..... neither is 10% off of MSRP.

You can build a vehicle on Carsdirect.com and find out what the dealer invoice is. Most dealers give you more than one option, so was $6000 down the only option that was presented to you?

Did you talk with them about MSD's??

DS1971

The dealer is taking over 2K off 46K car?
.00085 money factor?
$500 rebate cash?
1st payment on the house?
You would be spending money in your local economy?
I'm assuming that you're dealing with a salesman trying to make a living?
Sounds like good deal

Maybe you should try Kia
Looks like you're better fit

bpguns

Hmm looks like the dealership in question found this thread - new account, first post, and from the same state. Compared to other deals people have gotten, this is a mediocre deal. And maybe, just maybe, this well-informed consumer doesn't want to overpay for a huge purchase like this. In before the lock

gmanusmc

You're obviously not very familiar with this forum - considering your first post, one might think you are a troll.

Maybe you should try getting in the "courtesy" line - I think you missed it the first time around.

DS1971

No, I've just leased 4 cars from the dealer. The sales and service guys/guys treat me great. They have always given me great service and I'm willing to pay for that. I just ask they they make a little bit of money, a bunch of times. I don't get into invoices and stuff. I just ask that they show me a fair discount and treat me good after the sale. It sure make care buying/servicing a whole lot more fun. Good luck bottom feeding.