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-   -   Lexus is250 lease deal (http://www.clublexus.com/forums/is-third-generation/730625-lexus-is250-lease-deal.html)

shivam 02-21-14 06:26 PM

Lexus is250 lease deal
 
I went in today to look at a is250 and my dealership had the exact package color I wanted. But I'm a little skeptical on leasing the car because I have never leased before.

The salesman came back with the deal. The car was 44,500$. The lease was for a 36month 10k miles and the residual was around 27000k he said with 1500$ down I would be looking at 610$ after taxes.

I told him I need it with 0$ down and under 600 after taxes and he said he could do it if I bought the car today. I was hesitant. I'm gonna go to another dealership tommorow, what should I expect in terms of paying monthly for a Lexus is250 with f sport. Please if you guys can help.

corradoMR2 02-21-14 06:40 PM

That's high. I've seen in the ~$400 range plus taxes for CL members who posted in this forum. Here's one example.

http://www.clublexus.com/forums/is-t...-question.html

Search the forum for more. Good luck

toyotatom 02-21-14 06:49 PM

Is the $44,500 the list price or what you negotiated for the car? Either way it looks like your RV is around 60% of MSRP which is really low. It should be around 65% for a 36 month lease. What a 65% RV does is lower your payment around $53.00 a month based on the information you gave us. You need to find out the money factor also which is the other main part of the lease. The lower the MF the better, but it is based on your credit rating also. That $610.00 seems pretty high versus what some have gotten here. Leases are coming in real cheap in CA.

Quote:

Originally Posted by shivam (Post 8393948)
I went in today to look at a is250 and my dealership had the exact package color I wanted. But I'm a little skeptical on leasing the car because I have never leased before.

The salesman came back with the deal. The car was 44,500$. The lease was for a 36month 10k miles and the residual was around 27000k he said with 1500$ down I would be looking at 610$ after taxes.

I told him I need it with 0$ down and under 600 after taxes and he said he could do it if I bought the car today. I was hesitant. I'm gonna go to another dealership tommorow, what should I expect in terms of paying monthly for a Lexus is250 with f sport. Please if you guys can help.


shivam 02-21-14 06:49 PM

Thanks for the link, I'm just so confused on how to get a good deal on a lease. I see all these people posting deals where they are paying around 400$. It's just so hard to negotiate because I don't know much about leasing vac use this is my first one. But everyone on this forum has been giving great information.

shivam 02-21-14 06:55 PM

Quote:

Originally Posted by toyotatom (Post 8393984)
Is the $44,500 the list price or what you negotiated for the car? Either way it looks like your RV is around 60% of MSRP which is really low. It should be around 65% for a 36 month lease. What a 65% RV does is lower your payment around $53.00 a month based on the information you gave us. You need to find out the money factor also which is the other main part of the lease. The lower the MF the better, but it is based on your credit rating also. That $610.00 seems pretty high versus what some have gotten here. Leases are coming in real cheap in CA.

I think I messed up by telling the guy I've never leased before. When I asked about the residual value he just swicthed the topic to the down payment saying I can put 0 down and keep the payment around 550$ before taxes. The 44k was the listed price. I asked him if he would negotiate that but he told me putting 0$ down is taking 2k off the listed price. I think I should be a little more prepared next time I go to the other dealership so I know what number I should be looking for.

toyotatom 02-21-14 06:59 PM

Leases can be confusing until you understand how they work. Remember you negotiate the price of a car even for a lease, every $1,000 you get off MSRP is worth like $27.00 off on a 36 month lease. If there aren't too many dealers around where you live, it will not be easy to get much off Im afraid.

Quote:

Originally Posted by shivam (Post 8393987)
Thanks for the link, I'm just so confused on how to get a good deal on a lease. I see all these people posting deals where they are paying around 400$. It's just so hard to negotiate because I don't know much about leasing vac use this is my first one. But everyone on this forum has been giving great information.


shivam 02-21-14 07:32 PM

Quote:

Originally Posted by toyotatom (Post 8394015)
Leases can be confusing until you understand how they work. Remember you negotiate the price of a car even for a lease, every $1,000 you get off MSRP is worth like $27.00 off on a 36 month lease. If there aren't too many dealers around where you live, it will not be easy to get much off Im afraid.


I'm so used to buying used cars I don't know how much room usually dealers have on a new car. For a 44k car would marking down 3k off the price tag be reasonable. I just feel like the sales guy took advantage of me today so I'm hesitant towards leasing but I have three Lexus dealerships around me.

corradoMR2 02-21-14 07:36 PM

I think toyotatom gave you the best advice and metrics for you to crunch some numbers. My gut tells me no more than $500 + tax with 0 down would be a nice target IMO. Good luck.

toyotatom 02-21-14 07:37 PM

You have every right to know what the RV is and the MF (money factor) when leasing. They should be able to hand you a quote sheet which should show what they are discounting to reach the 2 grand off they are giving you, the sheet will have the RV % and the actual buyout price and it should show you the MF. MF is like a loan on the car for the duration of the lease. For example an MF of .002 is = to a 4.8 % loan. What you do is multiply the MF by 2400 to get the % equivalent of the MF. Good luck



Quote:

Originally Posted by shivam (Post 8394002)
I think I messed up by telling the guy I've never leased before. When I asked about the residual value he just swicthed the topic to the down payment saying I can put 0 down and keep the payment around 550$ before taxes. The 44k was the listed price. I asked him if he would negotiate that but he told me putting 0$ down is taking 2k off the listed price. I think I should be a little more prepared next time I go to the other dealership so I know what number I should be looking for.


toyotatom 02-21-14 07:45 PM

Go to all three and see what you can get between them for a deal. The one with the most cars will probably give you the best deal. At least you have some knowledge of what to look for now when sitting down with them. Keep us informed

Quote:

Originally Posted by shivam (Post 8394069)
I'm so used to buying used cars I don't know how much room usually dealers have on a new car. For a 44k car would marking down 3k off the price tag be reasonable. I just feel like the sales guy took advantage of me today so I'm hesitant towards leasing but I have three Lexus dealerships around me.


redlined2 02-21-14 08:19 PM

Quote:

Originally Posted by shivam (Post 8394069)
I'm so used to buying used cars I don't know how much room usually dealers have on a new car. For a 44k car would marking down 3k off the price tag be reasonable. I just feel like the sales guy took advantage of me today so I'm hesitant towards leasing but I have three Lexus dealerships around me.

I don't know if I would actually go to the dealerships. You may want to try this. Fax them a printed excel sheet with your numbers listed. Tell them to give you a call if they can make the deal and you will come in and sign.

***Also, don't fax or deal with a dumb salesman, they piss me off. Send your offer directly to the sales manager (ultimately he makes the decisions anyway). Also, don't deal in monthly payments, that is the wrong way to lease...tell them you want them to match your HARD numbers below and you don't care about the monthly payment (I mean you do, but they can manipulate monthly values but can't manipulate the hard numbers).

MSRP: 44,500
Offer: 40,000 (includes all dealer fees and doc fee in excess of $60) **note you can try to work them down even more if you want**
Money Factor: 0.001
Acquisition fee: 700
Residual: 65% (on 36months/10k per year)

So your pretax amount with nothing down is: $396.71 (just multiply this by 1.whatever your tax rate is to get your taxed monthly rate with no money down)

Pay registration fees upfront and doc fees of $60 and below

shivam 02-21-14 08:20 PM

Quote:

Originally Posted by toyotatom (Post 8394090)
Go to all three and see what you can get between them for a deal. The one with the most cars will probably give you the best deal. At least you have some knowledge of what to look for now when sitting down with them. Keep us informed


Thank you for the help, and I'm going to the other dealerships tomorrow, hopefully I can get the car by the end of next week. I sat in the 3 series, the cla and the c class. And none of them impressed me as much as the is. I'm gonna do my research like you suggested, I'll keep you posted.

Lost808 02-21-14 08:25 PM

Download this app to your phone: iLeaseCarPro and use it to figure out the lease payments based on the #s they give you. That way you can see if they are trying to add stuff into it without you knowing. Also, go in with a configured price printout from True Car. They will honor that price almost guaranteed. I used both of those and still got it lower than True Car. Good luck!!!! Oh, and do not tell them you want to lease until after you have negotiated a sale price of the car. Use that to figure out your lease price and if it works for you, tell them you want to lease.

shivam 02-21-14 08:56 PM

Quote:

Originally Posted by redlined2 (Post 8394135)
I don't know if I would actually go to the dealerships. You may want to try this. Fax them a printed excel sheet with your numbers listed. Tell them to give you a call if they can make the deal and you will come in and sign.

***Also, don't fax or deal with a dumb salesman, they piss me off. Send your offer directly to the sales manager (ultimately he makes the decisions anyway). Also, don't deal in monthly payments, that is the wrong way to lease...tell them you want them to match your HARD numbers below and you don't care about the monthly payment (I mean you do, but they can manipulate monthly values but can't manipulate the hard numbers).

MSRP: 44,500
Offer: 40,000 (includes all dealer fees and doc fee in excess of $60) **note you can try to work them down even more if you want**
Money Factor: 0.001
Acquisition fee: 700
Residual: 65% (on 36months/10k per year)

So your pretax amount with nothing down is: $396.71 (just multiply this by 1.whatever your tax rate is to get your taxed monthly rate with no money down)

Pay registration fees upfront and doc fees of $60 and below


Thank you for the numbers just a couple questions, the residual factor for my deal was around 60%, is this negotiable. And how do I calculate the money factor?

scarboy693 02-21-14 09:16 PM

I just used true car to submit a quote for mine.. I ended up getting my car for $2500 down and $450 including taxes a month for a 48K IS350 F Sport. 10K per year and 27 months. $0 Down would've been $580


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