Thinking of leasing a 2014 IS350 AWD F-sport
06-23-13, 01:42 PM
#1
Driver
Thread Starter
Thinking of leasing a 2014 IS350 AWD F-sport
Hello everyone,
I am a new user on this site and just registered. I've been looking at the new Lexus IS since i first seen photos of them.
So i went to the dealer yesterday and test drove a IS 250 AWD and found it to be a very nice car. So we went over the numbers for an IS350 AWD F-sport leasing and he worked out a number of $613/ month with an initial payment of $3500 to cover all the fees, taxes, etc.. I've never leased a car before and this would be the first. But i feel this is a lot for a 3 year/ 15k miles per year lease with an option to buy at approximately $30k by the time my lease is up.
What do you all think? Anyone else lease this vehicle rather than purchase? I would love to hear some input on these lease figures i got.
Also, i was looking for a red on red color combo....none could be found within 500 miles of my dealer and so this would have to be a special order with delivery by October
I am a new user on this site and just registered. I've been looking at the new Lexus IS since i first seen photos of them.
So i went to the dealer yesterday and test drove a IS 250 AWD and found it to be a very nice car. So we went over the numbers for an IS350 AWD F-sport leasing and he worked out a number of $613/ month with an initial payment of $3500 to cover all the fees, taxes, etc.. I've never leased a car before and this would be the first. But i feel this is a lot for a 3 year/ 15k miles per year lease with an option to buy at approximately $30k by the time my lease is up.
What do you all think? Anyone else lease this vehicle rather than purchase? I would love to hear some input on these lease figures i got.
Also, i was looking for a red on red color combo....none could be found within 500 miles of my dealer and so this would have to be a special order with delivery by October
06-26-13, 02:08 PM
#3
Lexus Test Driver
iTrader: (1)
Join Date: Apr 2011
Location: Louisville
Posts: 910
Likes: 0
Received 0 Likes
on
0 Posts
That's nuts. No way I would do that. Put $0 down or at the most first month payment. I would wait a bit and negotiate the price of the car. You negotiate the price of the car first and then figure in your lease. I leased my 2012 IS250 RWD for $450 a month with $0 down. 3 yr but 10k miles.
06-26-13, 02:51 PM
#4
The issue I see right now with a lease is that there is little to no negotiating with the price right now and the money factor is probably not good as there may be no help by Lexus for a lease. I will let everyone know when mine comes in and I discuss the numbers as I am contemplating returning to leasing as I switch vehicles often.
06-26-13, 04:13 PM
#5
That's nuts. No way I would do that. Put $0 down or at the most first month payment. I would wait a bit and negotiate the price of the car. You negotiate the price of the car first and then figure in your lease. I leased my 2012 IS250 RWD for $450 a month with $0 down. 3 yr but 10k miles.
IS350 AWD F-Sport is something like 48k-49k.
06-26-13, 05:59 PM
#7
Driver
Thread Starter
yeah it does sound like a lot but for me right now leasing would be better because I have less money to put in upfront as opposed to financing where I would need to put in a lot more upfront.
I do have the option to buy as well at the end or lease another vehicle.
I am still shopping around and gonna try to get the best lease deal I can even though I would have to wait 3 months before I get the car I want.
Posted from ClubLexus.com App for Android
I do have the option to buy as well at the end or lease another vehicle.
I am still shopping around and gonna try to get the best lease deal I can even though I would have to wait 3 months before I get the car I want.
Posted from ClubLexus.com App for Android
Trending Topics
06-26-13, 08:43 PM
#8
Lexus Fanatic
Find out a couple things for us:
MSRP
Purchase Price
Money Factor
Residual
Drive off costs (taxes, tags, processing fees, etc)
Only then can we really tell you if its an okay lease. Leases will suck at first, residual is high but they command MSRP and there is no discounted money factor. I had numbers run on the first 6ES they had at my dealer, MSRP $43k and the payment was $785. I leased my $60k MSRP GS for $700 $0 down.
Why would you need to put more down upfront to buy? I wouldn't put ANYTHING down on a lease. If you're happy putting $3,500 down, you can buy with $0 down...certainly can with $3,500 down.
MSRP
Purchase Price
Money Factor
Residual
Drive off costs (taxes, tags, processing fees, etc)
Only then can we really tell you if its an okay lease. Leases will suck at first, residual is high but they command MSRP and there is no discounted money factor. I had numbers run on the first 6ES they had at my dealer, MSRP $43k and the payment was $785. I leased my $60k MSRP GS for $700 $0 down.
Why would you need to put more down upfront to buy? I wouldn't put ANYTHING down on a lease. If you're happy putting $3,500 down, you can buy with $0 down...certainly can with $3,500 down.
06-28-13, 05:06 AM
#9
leasing a hyped up car upon release is not a good idea at all. you are locking in to a rate that will be 100 less a month by the time youre 6 months in.
roll in the down payment and youre paying over 700/month. in 2011 i leased a leftover 2010 is250 base rwd for 365/month nothing down. thats 50% less a month for a car with 25% less sticker value.
no offense but you sound like a salesmans ideal prey. of course you have a low cost to buy out, you are paying equiv of 700 + a month!! if your pitch to lease over finance is the benefit of having a lesser monthly payment, then you really shouldnt be walking into the showroom floor looking at 45k cars without assistance. just telling it like it is, to try and save you.
roll in the down payment and youre paying over 700/month. in 2011 i leased a leftover 2010 is250 base rwd for 365/month nothing down. thats 50% less a month for a car with 25% less sticker value.
no offense but you sound like a salesmans ideal prey. of course you have a low cost to buy out, you are paying equiv of 700 + a month!! if your pitch to lease over finance is the benefit of having a lesser monthly payment, then you really shouldnt be walking into the showroom floor looking at 45k cars without assistance. just telling it like it is, to try and save you.
Last edited by ThermonMer; 06-28-13 at 05:11 AM.
06-28-13, 11:46 AM
#10
Driver
Thread Starter
Thanks for the advice SW13GS and ThermonMer, I honestly do feel like the perfect prey for a salesman as i have not leased a car before, either i would finance or purchase outright. And because of never leasing before, i do not know all these terminologies associated to leasing.
Since this is a brand new generation for this car, i am kinda hesitant to purchase and thought maybe leasing would be better. Just so that Lexus works out the kinks, maybe offer better options/colors, etc on the coming year versions. I still do have the option to buy if i want in 3 years which i thought was a good option.
I am shopping around and will try to see what the best lease option i can get. The combo i want is at least 3 months away, so its not like i will walk out with a car right now or anytime soon. If there is nothing for me i like, then i can probably wait until the end of the year and hopefully they can give me something close to invoice.
Since this is a brand new generation for this car, i am kinda hesitant to purchase and thought maybe leasing would be better. Just so that Lexus works out the kinks, maybe offer better options/colors, etc on the coming year versions. I still do have the option to buy if i want in 3 years which i thought was a good option.
I am shopping around and will try to see what the best lease option i can get. The combo i want is at least 3 months away, so its not like i will walk out with a car right now or anytime soon. If there is nothing for me i like, then i can probably wait until the end of the year and hopefully they can give me something close to invoice.
06-28-13, 12:31 PM
#11
Been reading alot on leasing and the general opinion is that leasing = renting, so the question would be, would you put money down on a rental? I actually just leased my first Lexus, 4GS 350.
(Off the top of my head)
MSRP $50,477
Actual Cost $49,000
Residual $32,656
Lexus Rebate $2,500
Monthly payments $550
12K/Year
I didn't have to put any money down since they had the rebate. I wouldn't put any money down for a lease, maybe to cover the costs. Just my two cents
(Off the top of my head)
MSRP $50,477
Actual Cost $49,000
Residual $32,656
Lexus Rebate $2,500
Monthly payments $550
12K/Year
I didn't have to put any money down since they had the rebate. I wouldn't put any money down for a lease, maybe to cover the costs. Just my two cents
yeah it does sound like a lot but for me right now leasing would be better because I have less money to put in upfront as opposed to financing where I would need to put in a lot more upfront.
I do have the option to buy as well at the end or lease another vehicle.
I am still shopping around and gonna try to get the best lease deal I can even though I would have to wait 3 months before I get the car I want.
Posted from ClubLexus.com App for Android
I do have the option to buy as well at the end or lease another vehicle.
I am still shopping around and gonna try to get the best lease deal I can even though I would have to wait 3 months before I get the car I want.
Posted from ClubLexus.com App for Android
06-28-13, 12:53 PM
#12
I agree that a lease is a long term rental contract.
The way I have come to understand leasing is that in a nutshell:
1. Negotiate the sales price of the car as if purchasing it.
2. Get as high of a residual value as possible built in. Although the buyout figure will be high, it does not matter as the car will be turned over anyway.
3. Negotiate to get the money factor low. This factor is not usually printed on the lease but it must be disclosed when asked. Multiply the money factor by 2,400 in order to get the annual interest rate.
The '14 IS has a few things not going for it as far as not so attractive leasing and those are the fact that the discounts from sticker are slim to none and there will be no support or subsidy from Lexus towards the money factor.
If you own a small business, leasing is attractive no matter what as the entire lease payment can be written off on taxes as opposed to just taking the depreciation.
Just my 2 cents...
The way I have come to understand leasing is that in a nutshell:
1. Negotiate the sales price of the car as if purchasing it.
2. Get as high of a residual value as possible built in. Although the buyout figure will be high, it does not matter as the car will be turned over anyway.
3. Negotiate to get the money factor low. This factor is not usually printed on the lease but it must be disclosed when asked. Multiply the money factor by 2,400 in order to get the annual interest rate.
The '14 IS has a few things not going for it as far as not so attractive leasing and those are the fact that the discounts from sticker are slim to none and there will be no support or subsidy from Lexus towards the money factor.
If you own a small business, leasing is attractive no matter what as the entire lease payment can be written off on taxes as opposed to just taking the depreciation.
Just my 2 cents...
06-28-13, 01:36 PM
#13
yes, never put money down to "rent".
never say you are leasing until you negotiate the sticker.
never say you want to lease anything but the minimum miles offered (10k).
never say you want any options.
never say you want a rare color combo. chose the most common.
follow these steps and you will reach a bottom dollar price for the car, base model, to buy, stripped of areas of addition profit. now begin lease talk @ zero down.
from there you could say, could you offer this monthly rate for 12k miles? if not, why is the premium $x a month? could you do it for y? same goes for navigation, and other packages. these negotiation tactics will allow the dealership to open up their komono. you will be able to see each marginal cost they charge per month, with more opportunities of negotiation to minimize their profit margin for every box you check off. once youve reached your final "build" you could take a step back. if youve done a poor job negotiating, fall back and say, ok now my total sticker is % more than where we started. could you give me a monthly price at the same % nomination or better. then you have a final deal....................rather than, hey, im redraptor, im looking to lease a is350 awd f sport, at 15k miles. ever heard of red on red? its sexy as hell, i gotta have it, gimme a price? 700/mo? ok, i have no idea how you came to that price, so i do not know where your bottom line is to negotiate any further. (just teasing)
as a rule of thumb, any upfront costs should be rolled into a hypothetical monthly payment to compare lease deals apples to apples. get dealers to dollar match until you hit the lowest level out there.
never say you are leasing until you negotiate the sticker.
never say you want to lease anything but the minimum miles offered (10k).
never say you want any options.
never say you want a rare color combo. chose the most common.
follow these steps and you will reach a bottom dollar price for the car, base model, to buy, stripped of areas of addition profit. now begin lease talk @ zero down.
from there you could say, could you offer this monthly rate for 12k miles? if not, why is the premium $x a month? could you do it for y? same goes for navigation, and other packages. these negotiation tactics will allow the dealership to open up their komono. you will be able to see each marginal cost they charge per month, with more opportunities of negotiation to minimize their profit margin for every box you check off. once youve reached your final "build" you could take a step back. if youve done a poor job negotiating, fall back and say, ok now my total sticker is % more than where we started. could you give me a monthly price at the same % nomination or better. then you have a final deal....................rather than, hey, im redraptor, im looking to lease a is350 awd f sport, at 15k miles. ever heard of red on red? its sexy as hell, i gotta have it, gimme a price? 700/mo? ok, i have no idea how you came to that price, so i do not know where your bottom line is to negotiate any further. (just teasing)
as a rule of thumb, any upfront costs should be rolled into a hypothetical monthly payment to compare lease deals apples to apples. get dealers to dollar match until you hit the lowest level out there.
Last edited by ThermonMer; 06-28-13 at 02:10 PM.
08-21-13, 03:54 PM
#14
Driver School Candidate
Join Date: Aug 2013
Location: FL
Posts: 5
Likes: 0
Received 0 Likes
on
0 Posts
Just wanted to know.. I just left the Lexus dealership after hours of negotiation, and he quoted me for the 2014 Lexus IS350 F Sport Fully Loaded, MSRP $49k, for a 24 mo lease, 400/month with total of 3000 down. is that a good deal?
08-21-13, 03:59 PM
#15
Lexus Fanatic
I wouldnt put the $3,000 down.
What was the sales price, money factor & residual?
What was the sales price, money factor & residual?