LEASE HELP 1st timer
05-08-15, 09:21 PM
#1
Driver
Thread Starter
LEASE HELP 1st timer
Hey guys, im new to this forum and new to leasing... ive done searches and tried reading but i get lost at times -___- (msds, mf) but im looking into leasing a UW/RIOJA RED is 350 f sport with ML package in the near future (maybe 2 or 3 months) and i was wondering what people are paying here in the so cal area, i got a rough quote over the phone with longo lexus of 499 a month but really didnt get to speak with them much, i will be getting in contact with them again as well as with other dealers .... credit score is tier 1 and was wondering what i should be looking at or at least what i should be shooting for in terms as down and monthly payments... i saw some threads where people said they were in high 300's and low 400's for this exact combo but in other states... so with that being said any and all comments/advice are welcome and would be greatly appreciated thank you
05-09-15, 07:03 AM
#2
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Join Date: Apr 2015
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Lease
Check out the other thread of what people are paying for their IS350F (price paid for 250/350) and the IS350F sport leasing price thread.
MF=interest rate youre getting to borrow money from the bank (probably Lexus financial). Tier 1 I think is .0007. You take .0007 x 2400=1.68%
MSD=multiple security deposits. Take your calculate month payment (ie $499) round up to the nearest $25 increment so $500 and that's consider 1 security deposit and that would lower your MF by .00006. I believe Lexus financial will allow up to 9 MSDs (9x$500). Monthly payment will be different depending on months/mileage/residual. My monthly is $362 so round up to nearest $25 increment to $375. That's 1 MSD. MSD you can get back assume you stay within your mileage parameters and normal wear and tear.
how many months are you leasing? How many miles per year do you want?
Longo gave me a phone quote of sale price of $44500 but other member have gotten better sale prices. One guy recently got $46000 out the door prices. So that's a sale price of about $42xxx.
Basically1) start with the sale price and get it down to 13-15% off MSRP. 2) Lexus financial controls the residual so you can't really negotiate that. Lexus financial set the MF/interest rate based off your credit score. Not much negotiating there. 3) negotiate all the fees ask what they are and ask for them to get waived except for dmv, taxes, state controlled doc fees etc. but if you plan on keeping the car after for them to waive the purchase fee at the end of the lease. 4) don't put money as a down to lower the cap cost you won't get that back. Yes it can lower your monthly payments but no way of getting that back. MSD will lower payments and you have a chance of getting that back. 5) try to get more miles ie if you know you want 36 months & 10k miles a year ask for 36 months/12k miles per year at the same price. 6) ask for more stuff to get thrown in to sweeten the deals! Just keep asking for stuff, anything shirts, hats, Keychains, more oil changes, gift cards, etc, all they can say is "no" but remember you are in control cuz you can always walk away or take that deal and have another dealership try to beat it. I think that's the basics. Other will add more if I forgot some stuff.
If you are waiting 2-3 more months then just wait for 2016 to come out. Then you will get better deals on 2015s. Heck maybe you can try negotiating for a 2016 and post your deal on this forum!
Let us know if you have more questions. Oh if you want to come up to the Bay Area Putnam Lexus in redwood city is where I got mine. Sale guy was named Victor. Another member said he got his for around $425xx a few days ago. GL!
MF=interest rate youre getting to borrow money from the bank (probably Lexus financial). Tier 1 I think is .0007. You take .0007 x 2400=1.68%
MSD=multiple security deposits. Take your calculate month payment (ie $499) round up to the nearest $25 increment so $500 and that's consider 1 security deposit and that would lower your MF by .00006. I believe Lexus financial will allow up to 9 MSDs (9x$500). Monthly payment will be different depending on months/mileage/residual. My monthly is $362 so round up to nearest $25 increment to $375. That's 1 MSD. MSD you can get back assume you stay within your mileage parameters and normal wear and tear.
how many months are you leasing? How many miles per year do you want?
Longo gave me a phone quote of sale price of $44500 but other member have gotten better sale prices. One guy recently got $46000 out the door prices. So that's a sale price of about $42xxx.
Basically1) start with the sale price and get it down to 13-15% off MSRP. 2) Lexus financial controls the residual so you can't really negotiate that. Lexus financial set the MF/interest rate based off your credit score. Not much negotiating there. 3) negotiate all the fees ask what they are and ask for them to get waived except for dmv, taxes, state controlled doc fees etc. but if you plan on keeping the car after for them to waive the purchase fee at the end of the lease. 4) don't put money as a down to lower the cap cost you won't get that back. Yes it can lower your monthly payments but no way of getting that back. MSD will lower payments and you have a chance of getting that back. 5) try to get more miles ie if you know you want 36 months & 10k miles a year ask for 36 months/12k miles per year at the same price. 6) ask for more stuff to get thrown in to sweeten the deals! Just keep asking for stuff, anything shirts, hats, Keychains, more oil changes, gift cards, etc, all they can say is "no" but remember you are in control cuz you can always walk away or take that deal and have another dealership try to beat it. I think that's the basics. Other will add more if I forgot some stuff.
If you are waiting 2-3 more months then just wait for 2016 to come out. Then you will get better deals on 2015s. Heck maybe you can try negotiating for a 2016 and post your deal on this forum!
Let us know if you have more questions. Oh if you want to come up to the Bay Area Putnam Lexus in redwood city is where I got mine. Sale guy was named Victor. Another member said he got his for around $425xx a few days ago. GL!
05-10-15, 03:46 PM
#4
Driver
Thread Starter
Check out the other thread of what people are paying for their IS350F (price paid for 250/350) and the IS350F sport leasing price thread.
MF=interest rate youre getting to borrow money from the bank (probably Lexus financial). Tier 1 I think is .0007. You take .0007 x 2400=1.68%
MSD=multiple security deposits. Take your calculate month payment (ie $499) round up to the nearest $25 increment so $500 and that's consider 1 security deposit and that would lower your MF by .00006. I believe Lexus financial will allow up to 9 MSDs (9x$500). Monthly payment will be different depending on months/mileage/residual. My monthly is $362 so round up to nearest $25 increment to $375. That's 1 MSD. MSD you can get back assume you stay within your mileage parameters and normal wear and tear.
how many months are you leasing? How many miles per year do you want?
Longo gave me a phone quote of sale price of $44500 but other member have gotten better sale prices. One guy recently got $46000 out the door prices. So that's a sale price of about $42xxx.
Basically1) start with the sale price and get it down to 13-15% off MSRP. 2) Lexus financial controls the residual so you can't really negotiate that. Lexus financial set the MF/interest rate based off your credit score. Not much negotiating there. 3) negotiate all the fees ask what they are and ask for them to get waived except for dmv, taxes, state controlled doc fees etc. but if you plan on keeping the car after for them to waive the purchase fee at the end of the lease. 4) don't put money as a down to lower the cap cost you won't get that back. Yes it can lower your monthly payments but no way of getting that back. MSD will lower payments and you have a chance of getting that back. 5) try to get more miles ie if you know you want 36 months & 10k miles a year ask for 36 months/12k miles per year at the same price. 6) ask for more stuff to get thrown in to sweeten the deals! Just keep asking for stuff, anything shirts, hats, Keychains, more oil changes, gift cards, etc, all they can say is "no" but remember you are in control cuz you can always walk away or take that deal and have another dealership try to beat it. I think that's the basics. Other will add more if I forgot some stuff.
If you are waiting 2-3 more months then just wait for 2016 to come out. Then you will get better deals on 2015s. Heck maybe you can try negotiating for a 2016 and post your deal on this forum!
Let us know if you have more questions. Oh if you want to come up to the Bay Area Putnam Lexus in redwood city is where I got mine. Sale guy was named Victor. Another member said he got his for around $425xx a few days ago. GL!
MF=interest rate youre getting to borrow money from the bank (probably Lexus financial). Tier 1 I think is .0007. You take .0007 x 2400=1.68%
MSD=multiple security deposits. Take your calculate month payment (ie $499) round up to the nearest $25 increment so $500 and that's consider 1 security deposit and that would lower your MF by .00006. I believe Lexus financial will allow up to 9 MSDs (9x$500). Monthly payment will be different depending on months/mileage/residual. My monthly is $362 so round up to nearest $25 increment to $375. That's 1 MSD. MSD you can get back assume you stay within your mileage parameters and normal wear and tear.
how many months are you leasing? How many miles per year do you want?
Longo gave me a phone quote of sale price of $44500 but other member have gotten better sale prices. One guy recently got $46000 out the door prices. So that's a sale price of about $42xxx.
Basically1) start with the sale price and get it down to 13-15% off MSRP. 2) Lexus financial controls the residual so you can't really negotiate that. Lexus financial set the MF/interest rate based off your credit score. Not much negotiating there. 3) negotiate all the fees ask what they are and ask for them to get waived except for dmv, taxes, state controlled doc fees etc. but if you plan on keeping the car after for them to waive the purchase fee at the end of the lease. 4) don't put money as a down to lower the cap cost you won't get that back. Yes it can lower your monthly payments but no way of getting that back. MSD will lower payments and you have a chance of getting that back. 5) try to get more miles ie if you know you want 36 months & 10k miles a year ask for 36 months/12k miles per year at the same price. 6) ask for more stuff to get thrown in to sweeten the deals! Just keep asking for stuff, anything shirts, hats, Keychains, more oil changes, gift cards, etc, all they can say is "no" but remember you are in control cuz you can always walk away or take that deal and have another dealership try to beat it. I think that's the basics. Other will add more if I forgot some stuff.
If you are waiting 2-3 more months then just wait for 2016 to come out. Then you will get better deals on 2015s. Heck maybe you can try negotiating for a 2016 and post your deal on this forum!
Let us know if you have more questions. Oh if you want to come up to the Bay Area Putnam Lexus in redwood city is where I got mine. Sale guy was named Victor. Another member said he got his for around $425xx a few days ago. GL!
thank you very much, this was/is extremely useful, and i understand it way better now... im debating of getting a 24 month lease or a 36month lease and more then likely will end up buying it at the end of the lease
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