and250

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 ?

stasek

Providing a screenshot of your lease worksheet would be helpful.

and250

Disregard what I wrote in red.

SW17LS

The $10,012 cap cost reduction, did you trade in a car or put money down?

Often you will see the negotiated discount reflected in this field which is fine

and250

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

stasek

What is the car in question? I can’t think of a single $40k Lexus that would command a premium over MSRP.
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.

and250

I learned that the hard way! It was a 2017 IS200T. Here’s the window sticker

SW17LS

So the $10K is equity from your car that you traded in?

If so, then you essentially bought the car for MSRP+ and agreed to a prepaid maintenance plan. You overpaid for sure,

stasek

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.

larabond

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.

joedaddy1

iTrader: (1)

Everyone is not wrong. But no one is right until we see some numbers

larabond

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

joedaddy1

iTrader: (1)

I recommend you check out the vehicle specific lease forum over at Edmunds to get the specific numbers and what deals others are getting on the same car.

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.

You'll need above to know exactly where your payment amounts came from.
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.

SW17LS

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.

stasek

^^^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