slashpanic

Just curious, how did you 'verify' the MF of 0.00340 in Washington State? That's 8.16%!

All my calculations have been based on lower MFs.

Coolguy949

I can also verify that the residual is 62% after 36 months for the December to Remember program. I went to Tustin Lexus and they told me 0 down ($1300 drive-off fees) and around $550 a month + tax. They don't have any Nav IS' there and Mission Viejo lexus has only one Tungsten Pearl Nav with 120+ miles on it. I'd avoid MV lexus as they were really playing around with the numbers when i was trying to make a deal. I didn't feel they were being honest at all.

I'm trying to understand leasing more, what exactly is the "Money Factor"?

eleven24

The Money Factor is the lease equivalent of the APR on a standard auto loan. To better understand if it is a good rate, ask the dealer for the money factor & multiply that number by 2400. This will give you a corresponding APR that you can use to gauge whether or not it's a good deal.

For example, if the money factor is .00275, you would mutiply that by 2400 (.00275 x 2400) and end up with 6.6. The going rates on auto loans are around 5.5% - 6.5% right now, so it at least puts you in the ballpark.

Kermee

iTrader: (1)

Yeah. I was pretty pissed too. I verified with Lexus of Seattle and Lexus of Bellevue. I even saw the program they used which interfaces with TMC/LFS at Lexus of Seattle. Before the December Sales event, the top tier MF was 0.00355. During the event for the IS, it dropped 15 points to 0.00340. Neither dealership said they were "padding" the leasing rates.

Like I stated, you could save quite a bundle buying from a dealership in CA and having it shipped to WA if you're leasing. However, I haven't calculated the tax savings difference between living/operating in WA and living/operating in CA if the lease is for a business. It may end up being a wash.

Cheers,
Kermee

P.S. I didn't mean to thread crap this info but thought since it was related to leasing, I would put these tidbits of information here. Being a more informed consumer is always a good thing. When leasing, ALWAYS ask to see what the money factor is. That rate is on the screen of whoever is doing the financing but IT IS NOT REQUIRED BY LAW to be shown on the papers you sign (however, you can always figure out the MF with a calculator in hand with the numbers on the leasing document). It's easier just to ask. It's not an offensive question.

Kermee

iTrader: (1)

I too can verify that residual on 36 months, 12,000 miles is 62%. Residual on 36 months, 15,000 miles is 60%.

Kermee

iTrader: (1)

I finally ran the #'s with the assumption that $598.99/mo is before taxes.

MSRP: $43,069
Residual (60%): $25,841.40
Monthlies: $589.99 (assumed before taxes)

Came out with a depreciation fee of about $428.54/mo and finance fee of $170.45/mo. Your money factor shot in close to 0.00255 which equates to about a 6.12% APR. I *guessed* what the net cap reduction was because I couldn't figure out how much is going towards TLR, security deposit, acq. fees, etc. (if the entire $3900 went directly to net cap reduction or has TLR, doc fees, acq. fees, etc.)

Now, if your $598.99 figure includes taxes and I came in right on the net cap reduction... you got a pretty dang good deal then.

D-MAN63

Hey guys, I can do better than all your quotes.. Let me know in specifics and I will get you a real deal.
p.s. thank you AsianGirl..

Da Hapa

there's a shocker we bought our 2002 IS new from them back in, well 2002 and at the time the dealership was pretty good. they'd recently moved to a new, big space and from finance to service they were excellent to deal with. i don't know if the dealership was sold of if they had a big managment change but they're absolutely terrible now. we don't even take our old RX in to be serviced anymore because they couldn't get anything right.

BlackStevo

no your wrong. the sport package with the navi/hid's/rear camera, etc... is 43,069$

BlackStevo

I've gotten a new deal now. 2998$ out of pocket (100% COMPLETE, WITH TAX, EVERYTHING) and 599$ a month with an IS350 sport. only one of the cars they have in stock. This is with tier 1 credit. I saw the books on these cars here and the residual for 36 months/15k a year is 60%. The tier 1 rate is also .00245, I saw it myself. I just hope I get that score.

Kermee, that pirce I had originally quoted was with tax. I'll post up more IF/when I get the car and the final deal I get. This all depends on if they give me enough for my 2005 EVO. i'll post when i hear something...

Kermee

iTrader: (1)

That's awesome! I know at least the NY/NJ and CA markets have 0.00245's on the IS'es. Good luck and keep us posted!

Cheers,
Kermee