Jbreezie

Hey guys, I'm in the negotiating phase of the lease. He sent me a decent offer:

MSRP:
$44,313

Invoice
$37,475

Residual
$29,426 (66%)

Money factor
.00105 ?not sure

@36 months

$2k down @ $375/m

He didn't mention the MF rate or the break down on the drive off fees. I'm assuming that's where the $2k comes to play. What you guys think? I think the deal could be a little better. My budget sure thinks so!! I have great credit in Socal.

Thanks!

*I'm learning a lot about leases though this forum!

FrOHiKE

Check out the pricing thread, a lot of strategy/guidance there for financing. High level guidance... aim for 10-12% off MRSP, maximize your MSDs, and I believe the residual is too low in your post (I thought people were getting 72% over 36 months).

Wht95scort

Get the 350 you will be much happier.

FrOHiKE

Also pay nothing down if you can avoid it, and you can probably get an is350 + lower payment vs what they're offering you.

Lost808

What is the quoted purchase price?

Based on an MSRP of $44,313, purchase price of $39,000 (I am guessing), $2,000 cap reduction (down), $830 cap additions (acquisition fee/doc fee/lic fee), MF of .00105 (2.52 APR), and RV of 66%, your monthly would be about $336 a month. Total cost at end of 36 months would be $14,225.

gmanusmc

Lost808 has it pretty well calculated for you. Don't use the $2k for up front costs - use it and maybe add some to pay multiple security deposits (msd's) - each msd up to 9 reduces the money factor by .00008 which will significantly lower your payment. You receive the deposits back at end of lease minus any excess miles/damage charges. Also, consider 24 or 27 month term - the payment might even be less than the 36 month term because of the higher residual %. You can always extend the lease if you want to keep the car a little longer.

Good luck and let us know how you make out.

Jbreezie

Thanks guys!Is the sale price the agreed price plus tax? He just sent me the internet price of $37475. I thought it was decent since the car is in demand. i'm tempted to get a IS 350 F-Sport but seems like they're sold out! I would probably be paying in the high $400's? I wonder how he calculated the monthly of $375, he said something about $349 plus tax. I'm probably going to a local dealer to see what they can do. They said they can beat it. Hopefully I can get the $326 payment! I'm planning to go to a not so busy dealer to see! Wish me luck!

Jbreezie

The quoted was $37,475. I wonder if I can get it down to $36,000 since it's a rare car or maybe that's what they want me to believe! There's only 2-3 in the package combo I want.

FrOHiKE

Look at the MSRP, try to get a discount of 10-12% off that, then add taxes.

Lost808

Ok, based on the purchase price of $37,475, you should be looking at a monthly of $288.74ish.

Based on an MSRP of $44,313, purchase price of $37,475, $2,000 cap reduction (down), $830 cap additions (acquisition fee/doc fee/lic fee), MF of .00105 (2.52 APR), and RV of 66%, your monthly would be about $288 a month. Total cost at end of 36 months would be $12,500.

When I leased my wifes 14 250 a year ago, we did not plan on buying it at the lease end, so I negotiated a higher RV% and got it set at 74%. The higher the RV %, the lower your monthly payments will be, but the higher the lease end buyout will be if you decided to keep the car.

Jbreezie

The salesmen said the $2k was fees and the first payment. Excessive? I'm planning to buy out the car unless I decide to get a is 350 or rc later haha

drbazing

I don't think the fees itself should go over $1000? First payment would be around $300+?

Just say you're determined not to put any money down. Walk away and go compare numbers to another dealer.

Jbreezie

Good strategy, the dealer knows I have other offers too.

drbazing

I went through SoCal dealers, from Ventura all the way down to San Diego. I made a spreadsheet with the contacts and offers from each of those dealers. Found the best deal in Santa Monica.

All of these done through internet sales managers.

Jbreezie

That's what I've been doing to through email. Some dealers don't want to give numbers unless you're there though. What deal did you get? I was going to drive to Longo from San Diego but they sold my car! Have to wait til next week for the shipment!