ALL About Leasing and Buying
Driver School Candidate
Joined: Jul 2019
Posts: 4
Likes: 0
From: FL
Agreed upon value of Vehicle
Trying to figure this one out... looking over the lease:
The MSRP was 37,825
Options brought it to 38,509
Fees brought the Sticker price to $39,504
on my lease agreement, the agreed upon value of the vehicle (before any extras such as contracts, insurance, etc) is $41,204.
Did I get hosed on my lease ?
The MSRP was 37,825
Options brought it to 38,509
Fees brought the Sticker price to $39,504
on my lease agreement, the agreed upon value of the vehicle (before any extras such as contracts, insurance, etc) is $41,204.
Did I get hosed on my lease ?
Advanced
Joined: Jan 2017
Posts: 692
Likes: 78
From: Illinois
Trying to figure this one out... looking over the lease:
The MSRP was 37,825
Options brought it to 38,509
Fees brought the Sticker price to $39,504
on my lease agreement, the agreed upon value of the vehicle (before any extras such as contracts, insurance, etc) is $41,204.
Did I get hosed on my lease ?
The MSRP was 37,825
Options brought it to 38,509
Fees brought the Sticker price to $39,504
on my lease agreement, the agreed upon value of the vehicle (before any extras such as contracts, insurance, etc) is $41,204.
Did I get hosed on my lease ?
Driver School Candidate
Joined: Jul 2019
Posts: 4
Likes: 0
From: FL
I did, I had an older car I traded in. My question was, the sticker value of the car was $39,500 but the “agreed upon value of the car” was $41,200
Advanced
Joined: Jan 2017
Posts: 692
Likes: 78
From: Illinois
Did you get anything off sticker??? That residual value looks to be ~50%.
Also, it’s never a good idea to put down any money on a lease, other than first payment.
Driver School Candidate
Joined: Jul 2019
Posts: 4
Likes: 0
From: FL
ClubLexus Stories
Celebrating Lexus & Toyota from Around the Globe
8 Tips for Improving Your Hybrid or Plug-in Hybrid's Efficiency!
Michael S. Palmer
10 Best Lexus Models No One Remembers
Joe Kucinski
TRD Off-Road Premium: Best 2026 4Runner, Except This One Thing
Michael S. Palmer
Top 10 Lexus & Toyotas to Drive Before You Die!
Joe Kucinski
Top 10 Lexus/Toyotas With The LEAST 5-Year Depreciation
Joe Kucinski
Lexus LC500 Convertible Auction: A Preview of Rising Values?
Brett Foote
GX 550 vs TX 550: Best 3-Row Luxury Lexus Family Hauler
Michael S. Palmer
9 Best Lexus Models You Can Buy for Half Price (And 1 You Shouldn't!)
Joe Kucinski
2026 Lexus NX Buyer's Guide: Models, Features, Prices & More!
Brett Foote
Advanced
Joined: Jan 2017
Posts: 692
Likes: 78
From: Illinois
Ouch..... $24k to drive an IS for 3 years - definitely not a good deal (to put it nicely). I’m not sure if you’re aware of a “leasehackr” forum, but before you do another lease, I highly recommend spending some time on that particular forum.
Driver School Candidate
Joined: Jun 2015
Posts: 24
Likes: 0
From: WA
Have a confusing info from different Lexus dealerships. Hope someone can clarify. Two dealerships told that "good deals" ended in December and "everything" has changed now and now the price went up almost 2k comparing what I would have paid last week. Another dealership told me that pretty much nothing has changed, as "December to remember" is mare marketing plot to drum up sales. Thus buying last week or today should not make a huge difference in price. I want to lease an RX.
Second part, I want to lease a vehicle for 2-3 years and get new features in the next car. I know that it is more costly than buying and keeping for awhile; my first two cars I drove for 10 years each. If I lease, does it make a difference to pre-pay the lease in one payment, or it saves no money whatsoever. I got conflicting info from dealers. Interest rate is very low for 2020 Lexus right now.
The last question, I am returning my 2018 Lexus NX loaded with features with only 14k miles. Some dealers tell me that I can trade it in and save some $$, some say since it is a lease, it is bs sale tactic.
Would appreciate any clarifications.
Second part, I want to lease a vehicle for 2-3 years and get new features in the next car. I know that it is more costly than buying and keeping for awhile; my first two cars I drove for 10 years each. If I lease, does it make a difference to pre-pay the lease in one payment, or it saves no money whatsoever. I got conflicting info from dealers. Interest rate is very low for 2020 Lexus right now.
The last question, I am returning my 2018 Lexus NX loaded with features with only 14k miles. Some dealers tell me that I can trade it in and save some $$, some say since it is a lease, it is bs sale tactic.
Would appreciate any clarifications.
Have a confusing info from different Lexus dealerships. Hope someone can clarify. Two dealerships told that "good deals" ended in December and "everything" has changed now and now the price went up almost 2k comparing what I would have paid last week. Another dealership told me that pretty much nothing has changed, as "December to remember" is mare marketing plot to drum up sales. Thus buying last week or today should not make a huge difference in price. I want to lease an RX.
Second part, I want to lease a vehicle for 2-3 years and get new features in the next car. I know that it is more costly than buying and keeping for awhile; my first two cars I drove for 10 years each. If I lease, does it make a difference to pre-pay the lease in one payment, or it saves no money whatsoever. I got conflicting info from dealers. Interest rate is very low for 2020 Lexus right now.
The last question, I am returning my 2018 Lexus NX loaded with features with only 14k miles. Some dealers tell me that I can trade it in and save some $$, some say since it is a lease, it is bs sale tactic.
Would appreciate any clarifications.
Second part, I want to lease a vehicle for 2-3 years and get new features in the next car. I know that it is more costly than buying and keeping for awhile; my first two cars I drove for 10 years each. If I lease, does it make a difference to pre-pay the lease in one payment, or it saves no money whatsoever. I got conflicting info from dealers. Interest rate is very low for 2020 Lexus right now.
The last question, I am returning my 2018 Lexus NX loaded with features with only 14k miles. Some dealers tell me that I can trade it in and save some $$, some say since it is a lease, it is bs sale tactic.
Would appreciate any clarifications.
Driver School Candidate
Joined: Jun 2015
Posts: 24
Likes: 0
From: WA
For example one dealer quoted me RX350 MSRP $55,118 lease today 36 mo - $23, 260; the same RX with the same MSRP a week ago was quoted for 36 mo - $20,459.
Yesterday, he said he will "honor" the last December quote, but when provided the price it was $23,130 which is $2670 more. He said because "the MSRP discount is the same, everything else is not". "honoring last quote" he put in writing. Just wonder how is it "honoring" by raising the price
Yesterday, he said he will "honor" the last December quote, but when provided the price it was $23,130 which is $2670 more. He said because "the MSRP discount is the same, everything else is not". "honoring last quote" he put in writing. Just wonder how is it "honoring" by raising the price
For example one dealer quoted me RX350 MSRP $55,118 lease today 36 mo - $23, 260; the same RX with the same MSRP a week ago was quoted for 36 mo - $20,459.
Yesterday, he said he will "honor" the last December quote, but when provided the price it was $23,130 which is $2670 more. He said because "the MSRP discount is the same, everything else is not". "honoring last quote" he put in writing. Just wonder how is it "honoring" by raising the price
Yesterday, he said he will "honor" the last December quote, but when provided the price it was $23,130 which is $2670 more. He said because "the MSRP discount is the same, everything else is not". "honoring last quote" he put in writing. Just wonder how is it "honoring" by raising the price
At the minimum you need to know:
- MSRP (ex $55k)
- Discount before incentive - how much the DEALER is discounting (ex $50k.. or 9% off)
- Incentives - how much the MANUFACTURER is discounting (ex $5,000 December to Remember lease incentive + $1000 Loyalty incentive)
- All 3 above makes up the Selling Price (ex. $44k)
- Residual % or Residual Amount (ex. 56% after 3 years)
- Money Factor (multiply by 2400 to get the interest rate)
- Other fees - acquisition fee, dealer fee, tax title, etc.
Anything that changed above from last month will change your payments this month.
Check the Money Factor (MF). If it's over 2%, it might be worth it to do a MSD (Multiple Security Deposit).
One-payment USUALLY isn't the best option.
Lexus Fanatic
Joined: May 2012
Posts: 68,463
Likes: 3,989
From: Maryland
Agreed on the above.
I would not recommend a one payment lease. And yes, lease numbers do change month to month and you will see incentives fall from December to Remember. I bought my LS in January and we actually backdated the paperwork to get the December numbers, the difference was substantial. So I actually had tags and all for a car that wasn’t even at the dealer yet
If the leased car is worth more than the residual at the end then yes, you can trade it in or sell it and pocket the difference.
I would not recommend a one payment lease. And yes, lease numbers do change month to month and you will see incentives fall from December to Remember. I bought my LS in January and we actually backdated the paperwork to get the December numbers, the difference was substantial. So I actually had tags and all for a car that wasn’t even at the dealer yet
If the leased car is worth more than the residual at the end then yes, you can trade it in or sell it and pocket the difference.
Advanced
Joined: Jan 2017
Posts: 692
Likes: 78
From: Illinois
^^^This - what “joedaddy1” and “SWLS17” said. Get some numbers from Carvana and/or vroom and see what they offer - takes 5 minutes. You might just have some equity in the NX. In your case, since the MF is almost 0, a 1 pay lease probably doesn’t make sense - might as well keep the $20+k in the bank and pay as you go. In addition to Edmunds (where you can get the MF & RV for your zip code, I highly recommend spending some time on “leasehackr” forums.
Here’s an example....
https://forum.leasehackr.com/t/2019-...id-i-do/215841
Here’s an example....
https://forum.leasehackr.com/t/2019-...id-i-do/215841
Last edited by stasek; Jan 8, 2020 at 09:37 PM.