iampraneel

iTrader: (3)

$184.00 a month. How did you do that? Please share details on the thread below.

https://www.clublexus.com/forums/is-...250-350-a.html

keyframe13

He just said he traded a $14k car to do so, which I think is the worst thing to do when you lease.

toyotatom

Why's that? What should I do with car I no longer want?

carderoni

Not a chance in Hell he got $184 a month even with a 14k trade in unless he put a ridiculous amount down for a lease.

I decided I was done with buying vehicles and all their related unexpected expenses and lack of equity. I received $7500 on my trade in and, with the lowest rate possible and a very good purchase price, am paying $380 for a loaded 350 F-Sport AWD.

keyframe13

Sell it and keep the money. Put it in the savings and use them if you decide to purchase the car at the end of the lease or downpayment for a new car than.
If your car is totaled or stolen during the lease you just lost $14000
The vehicle is not owned by you - you're just "renting" it from a leasing company. Your insurance company has no obligation to pay you for any money you lost as a down payment.

Joeb427

iTrader: (1)

True.
Put down $0 or the least you can.

toyotatom

That's what the payment was that's all I can tell you, dealer showed me the printout. Go to the lexus website where you can input different dollar amounts to figure your lease price. Mine came out $194.00 on there but the 10,000 mile option for lease miles was not available to choose which is what I took so that's why the payment is $10.00 less I guess. I entered your 7,500 trade in and the payment jumped to $429.00 for 36 month lease. Im assuming you must have gotten a couple of thousand taken off the MSRP to figure your lease payment and that's why your payment is $380.00 a month. Im certainly not an expert on leasing but from what I can figure a lease is a loan based on the difference of the MSRP and buyout price of the car, that's why the more you put down the monthly lease price can vary so much.

toyotatom

How would the insurance company know what I put down on a car? Don't they pay what the value of the car was at the time of the accident or being stolen. Im not sure why I would be out $14,000 right away.
Anyway's the payment with 0 down would have left me with a $650.00 a month payment which I may not have been approved for anyway, which means I would have gotten another Hyundai, didn't care to do that.

BOBFSPORT

If you total the car the insurance company pays the bank who owns the car and not you. Also don't want to make a bad situation worse but 650 a month is a ridiculously high payment. I guess chalk this all up as a learning experience and drive your car very carefully Just kidding, drive it like you stole the ***** !

SonyHome

If you are able to renegotiate or cancel this you should. Others on the forum have been able to get IS350 F Sport for ~ $450/month or less with ~$500 down on a ~27 month lease. Also there is DTR sale that gives you first month free. I get the impression you are stretching to buy this car and you really should negotiate little harder to get it for better price. Also use the $14000 to buy down the money factor since you get that back at the end of your lease and lowers your payment and put the rest in the bank or investment.

If dealer don't want to give you a fair/competitive deal go some where else. I'm not sure if you can lease from CA dealers and return to local dealer but if you can you should contact one of the CA dealers that other members got those great deal from. Good luck!

keyframe13

You got scammed big time because you concentrate on the monthly payment rather to negotiate the price and probably that;s how they suggested you to trade in the car. You also probably don;t have a good credit either. You were a easy victim for those dealers who love ppl like you. No way in hell a lease for a fully loaded IS350 can get that high. I would go back and try to renegotiate the deal just like others suggested.

lamar411

$650 a month is above what a GS would be, I think. Ouch.

toyotatom

The dealer did not suggest anything when it came to leasing the car, in fact they suggested not putting as much down, myself I just despise high monthly payments that's all. That's my choice and I will live with the consequences of doing that. And if don't believe an IS 350 F sport can't cost $650.00 a month go to the Lexus website payment estimator and pick a GS 350 RWD because that's the only car close to an IS 350 F sport list price for around $49,000, putting 0 down and paying the lease fees only the payments are $651 for 36 months and 615 for 48 months. Check it out if you don't believe me. And also as far as my credit rating goes, last I knew it was 825 which last I knew was pretty good.
Also IS 350 F Sports are hard to come by in the Northeast which makes it hard to deal for one, IS 250 are a dime a dozen but didn't want one. Maybe the 350s are more available in warmer climates and you can deal better for them, I don't know.

toyotatom

I live in the Northeast so I'm not sure if that's doable but thanks for the idea

4TehNguyen

iTrader: (1)

if the car is totalled or stolen, the insurance company isnt paying you 14k back, they pay the dealer and youre out of that 14k you traded in. Selling the car privately (would get more than the 14k in trade in) wouldve been better used to help absorb the higher monthly payment and you dont run the risk of losing it in case something happened to the car.