ALL About Leasing and Buying
07-07-14, 12:29 PM
#76
Lexus Test Driver
Thread Starter
I'm still far ways from doing anything at this point. Right now payoff is $37.2k and car has about 5900 miles on it. 2013 es300h 27 months lease, 18 months left. I'm thinking in about 2 more years, after possible lease extension to about 36 months, car will have maybe 25k miles and payoff will be $28k. I'm guessing car will be worth about $30k at that point.
What is the Residual value?
07-07-14, 12:35 PM
#77
Lexus Test Driver
Thread Starter
If your car is going to be worth $30,000 with only 25k miles, that means trade in will be around $27.000 make you
Upside down $1000. Depending if your state allows trade in tax, you may get another $1800 credit. So it will be close to a wash or maybe $800 positive eq. Selling it is the only option if you want positive equity for sure!
The dealer may push the trade in for $28,500 you never know I guess, if you buying a new car.
Upside down $1000. Depending if your state allows trade in tax, you may get another $1800 credit. So it will be close to a wash or maybe $800 positive eq. Selling it is the only option if you want positive equity for sure!
The dealer may push the trade in for $28,500 you never know I guess, if you buying a new car.
Last edited by FastTags; 07-07-14 at 12:52 PM.
07-27-14, 12:26 AM
#78
I have taken a lot of math but it has been awhile. My deal is they want me to pay a 1 time lease which is cheaper and going to be around $21,500 or so for the GS for 30 Month Term. If I do this and I buy the car at the end of the term and keep it for 8-10 years would that be cheaper then financing the car and buying it outright at a 6-7% interest rate? and does Doing a 1 time lease help your credit score at all? I have 0 credit aka A ghost. Or should I get a 3 year old lease return CPO and pay 75% in cash, finance it at 6-7% or whatever I can get? so the basic info is, do a 1 time lease prepaid or whatever then buy it at the end or buy a used or new car with a lot down and high interest rate? which one is best?
Last edited by krava; 07-27-14 at 12:38 AM.
07-27-14, 07:32 AM
#79
Lexus Test Driver
Thread Starter
I have taken a lot of math but it has been awhile. My deal is they want me to pay a 1 time lease which is cheaper and going to be around $21,500 or so for the GS for 30 Month Term. If I do this and I buy the car at the end of the term and keep it for 8-10 years would that be cheaper then financing the car and buying it outright at a 6-7% interest rate? and does Doing a 1 time lease help your credit score at all? I have 0 credit aka A ghost. Or should I get a 3 year old lease return CPO and pay 75% in cash, finance it at 6-7% or whatever I can get? so the basic info is, do a 1 time lease prepaid or whatever then buy it at the end or buy a used or new car with a lot down and high interest rate? which one is best?
Well, you gotta do the math kid, in your case since you are a ghost i would advise to actually finance at least something so that you could build the Credit. I dont think with one time lease your credit will improve since there is no Actual credit that takes place.
So, with that being said, I cant tell you if you got a good deal or not since there are no other numbers, but what you need to find out is what does the dealer charge you for, other fees etc..
I am not familiar with One time Leases, so I cant comment a lot about the subject.
There are Banks like Pentagon Federal Credit union that give out better rates 2.49% sometimes even better. Penfed even has Payment Saver, its like a Lease.
Try your luck there perhaps.
07-27-14, 11:45 AM
#80
Lexus Test Driver
I have taken a lot of math but it has been awhile. My deal is they want me to pay a 1 time lease which is cheaper and going to be around $21,500 or so for the GS for 30 Month Term. If I do this and I buy the car at the end of the term and keep it for 8-10 years would that be cheaper then financing the car and buying it outright at a 6-7% interest rate? and does Doing a 1 time lease help your credit score at all? I have 0 credit aka A ghost. Or should I get a 3 year old lease return CPO and pay 75% in cash, finance it at 6-7% or whatever I can get? so the basic info is, do a 1 time lease prepaid or whatever then buy it at the end or buy a used or new car with a lot down and high interest rate? which one is best?
If you need to build your credit fast go to a bank and open a security credit card. That would set your credit in less than a year.
07-28-14, 05:46 AM
#82
Lexus Test Driver
Thread Starter
I dont think you do. In any way a lease is a lease which means in case of an accident you/bank will only be refunded by insurance for the money you owe, unless you have an insurance for the actual value of the Vehicle!
Which is optional.
Last edited by FastTags; 07-28-14 at 05:55 AM.
07-28-14, 10:29 AM
#83
This is what I am being offered on 14 GS MSRP 54,500
This is for a pretty loaded GS350 luxary package etc.
Right now, if you were to purchase and finance for 5 years, your rate would be 9.5% for that term. With this lease, the interest rate for 33 months is 7.5% and that has already been applied to the one pay of $23,305.28. For 33 months you make no payments. The residual cost of the car after 33 months will be $32,722.00. This is the price of the car that you will finance should you choose to buy it at the end of the lease term. Also, with the established credit, your interest rate will be lower thus making the purchase a lot more economical.
In addition, Lexus is providing $1,750 lease cash which has been included. This cash “rebate” is not provided on a purchase so that is another advantage of the one pay lease.
Right now, if you were to purchase and finance for 5 years, your rate would be 9.5% for that term. With this lease, the interest rate for 33 months is 7.5% and that has already been applied to the one pay of $23,305.28. For 33 months you make no payments. The residual cost of the car after 33 months will be $32,722.00. This is the price of the car that you will finance should you choose to buy it at the end of the lease term. Also, with the established credit, your interest rate will be lower thus making the purchase a lot more economical.
In addition, Lexus is providing $1,750 lease cash which has been included. This cash “rebate” is not provided on a purchase so that is another advantage of the one pay lease.
08-15-14, 06:54 AM
#84
Lexus Fanatic
iTrader: (20)
great video...
09-01-14, 07:35 AM
#86
Lexus Test Driver
What kind of business lease deductions are people getting? I've always heard that leasing makes most sense when you can claim as small business expense. How much does that help?
09-01-14, 08:09 AM
#87
Boardroom Thug
I do this.... You will have to pay a small luxury car lease inclusion on your taxes but its not much, you will also have to note how much is personal use and you will take that off the write off. Such as $10,000 in lease payments, 20% personal use, you deduct $8000.00.
Its easier under the business name, I seen where people do a personal lease then "lease the car" to the company.
My best quotes recently for insurance has come from Geico for a business leased car driven by employees mostly.
Its easier under the business name, I seen where people do a personal lease then "lease the car" to the company.
My best quotes recently for insurance has come from Geico for a business leased car driven by employees mostly.
09-01-14, 08:56 AM
#88
Lexus Fanatic
Originally Posted by J.P.
My best quotes recently for insurance has come from Geico for a business leased car driven by employees mostly.
09-05-14, 08:53 PM
#89
Lexus Test Driver
After lurking and vicariously enjoying this forum for years, it's finally my turn. Got wife to take a test drive today and she grinned ear to ear. This would be my first lease so I need your help. Please advise if this is a good (enough) deal...
2014 F Sport, 27 months, 15k miles
MSRP: $59,383
Sale Price: $52,795
Base Payment: $539.25
Total Payment: $586.43
Purchase Option: $38,598
Excess Mileage Charge 0.25
Total Inception Fees: $1,248.44
Rebate as Cap Reduction: $951.56
Total Drive Off: $2,200
Rebate as Drive Off: $1,248.44
Total Cash Required on Delivery 0.00
MF: 0.00025
Thanks in advance for your help!
2014 F Sport, 27 months, 15k miles
MSRP: $59,383
Sale Price: $52,795
Base Payment: $539.25
Total Payment: $586.43
Purchase Option: $38,598
Excess Mileage Charge 0.25
Total Inception Fees: $1,248.44
Rebate as Cap Reduction: $951.56
Total Drive Off: $2,200
Rebate as Drive Off: $1,248.44
Total Cash Required on Delivery 0.00
MF: 0.00025
Thanks in advance for your help!