bewitz

sticker $39,073
selling price $36,000 including sales tax (6.25%) and all fees
39 month lease, 45K miles
$562 per month
first month's payment only cash out of pocket
Lexus Financial Services lease, no security deposit, no disposition fee

how would you evaluate this lease?

fair? good? great?

thanks!

Bob99b5

I ended up buying instead of leasing but the quote I got from my credit union was $540 per month, nothing due at signing except for 1st month payment. That was based on a $40,100 MSRP and a purchase price of $36,500. I think you're doing ok.

bewitz

Thanks for the info. I believe the higher APR on the Lexus Financial Services lease is likely the difference. My credit union does leases also, and I checked with them, but they didn't have the months/miles combination I wanted so I couldn't make an exact comparison. My wife really hates me creating a Christmas crush being preoccupied getting a new car, so she insisted on the 39-month term. Guess I'll be missing the year-end deals now!

SprocketS

That sounds pretty good... do you know the residual and the money factor?

I leased an AWD with toys, and on a 36 month lease I got .000197 money factor and 52% residual.

A really helpful double check is to go to www.leasecompare.com and plug in the numbers to their quote form.

BTW, I stayed away from the 39 month option, because here in California, the lessee (me!) has to pay the DMV registration fees and annual taxes... so, on a 39 month lease, I have to fork over for the fourth year of fees/taxes, but only get to drive it for 6 months!

Something to think about...

bewitz

Money factor = .00197 (4.725% APR), residual 52%.

In Texas, lessee pays sales tax of 6.25% at lease inception; on a vehicle with a sales price of $36,000, that's $2250, so it's very important if the lessor has sales tax credits. In other words, they pay the sales tax.

Annual registration fees will be about $65, I believe, and so far here in Texas there are no other property taxes involved...at least for most Texans. A few taxing authorities (counties, I believe) still collect a personal property tax on leased vehicles, and that could be in the neighborhood of $600-$700 per year on an RX330. The state legislature did away with a state-wide leased vehicle personal property tax a few years ago, but allowed counties to elect out of the law, and a few did. So, in Texas you have to be careful about that.

Balancing all those factors and others, like inception and disposition fees, can make direct comparisons of leases, at least in Texas, tricky. I finally, after about 30 days of shopping, got 5 bids and took the best one, which miraculously was from a local dealer.

SprocketS

Wow... a much better deal in TX than CA! Congrats, it looks like you really did a lot of homework and got a great deal!! And thanks for the TX info, it's always interesting to see how different states treat auto leasing...

joyous

With 6% sales tax as an upfront fee the lease deal of itself better be extremely GOOD.