mdk888

So the lexus special lease offer right now is in the nyc tri-state area is:

2013RX350AWD
$389mo.27mos.
$3,788due at signing.
Excludes official fees, taxes and dealer charges. No security deposit required. 10,000 mile/year limit.


OFFER DETAILS
*Available on approved credit to qualified customers through Lexus Financial Services and participating Lexus dealers on a new 2013 RX 350 AWD. Not all customers will qualify. Offer based on MSRP of $46,815 including delivery, processing and handling. Monthly payment may vary depending on final price of vehicle & your qualifications. You pay $0.25 per mile over 10,000 per year. See dealer for vehicle and lease program details. Must take delivery by 9/30/13. This offer is available in WV, VA, PA, MD, DE, NJ, CT, NY, RI, MA, NH, ME.


If I just do basic math :
total lease payment is 10503 +3788 due at signing + ~31000k residual
leaves you at 45291 on a 46815 msrp.

How's this any better if I were to buy this outright and negotiating a deal below msrp? which I plan to do anyways. Am I missing something?

markrivers

No one pays MSRP, whether you lease it or you buy it.

You're math is wrong:

389 x 26 months only = 10,114
$3,788 due at signing ( usually includes the 1st monthly payment)
and you have a 10,000 miles/yr allowance if you go over you have to pay 15cents per mile.

If you purchase the RX now, you'll have to pay Sales tax for the entire car ( $42,000-$44,000) i depending on your agreed price for the RX. so that's bout $3,960 ( 9% sales tax for example)

Another issue, based on the MSRP, i don't think you have Blind spot monitoring, intuitive parking, roof rack/rails etc.
My 2013 has a MSRP close to $50,000 already.

mdk888

So you are saying its not wise to go with this promotional offer than? Which is what I was thinking to begin with.

oohpapi44

iTrader: (1)

Would suggest figuring out exactly what you're looking to have included in the RX you bring home. Build your truck first and know what the MSRP is. Then work backwards from there to know where your 'good' deal begins (it's all subjective).

The lease deal is what they're offering, but hard to tells what's included. Based on that MSRP, may not be much.

Also depends on how much you'll be using it. 10k miles can go by pretty quickly.

markrivers

Not really. If you don't "want" a lot of options, then this deal maybe right for you.
I think the " premium" package maybe the only option here. It maybe a non Nav unit as well.

Any car can be purchased/ leased. So i completely agree with oohpapi44 to build your RX first then negotiate for the purchase price before mentioning you plan to lease.

Ive done both. Buy and lease, lease then buy the " leased" vehicle because the residual value is below KBB.
With 2013 having a recent facelift, ( 2014 looks exactly the same), if i was in your shoes, i'll lease it for 36 months, and then figure out if i want to purchase at the end of the lease/ or even before the lease end.
If you're credit is excellent, then you may not even need to put anything down. ( that's what i do)
Expect to pay $ 600-750/ month...it makes more sense to me compared to giving the dealer 15% down right away for purchase.

The less money i have to part ways initially, the better is the deal for me.

Evitzee

The argument of 'buy vs lease' is a long one. Leasing gives you the most up to date vehicle every 3 years or so at the cost of heavy perpetual car payments. By buying the vehicle over 3 years or so you then have a fully paid up vehicle that you can run for another 7-10 years with minimal maintenance costs and no payments. Your choice, some people are seduced by the siren song of having a new vehicle every 36 months, others prefer the lowest price strategy even if it means driving a 10 year old vehicle. Do the math and determine what is more important to you .... up to date vehicle at all times ($$$), or driving a fully paid for vehicle well after it has been paid off.