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Lexus send me 2.9% 60 mo for a new LS500 AWD

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Old 08-06-18, 07:04 PM
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sears1234
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Default Lexus send me 2.9% 60 mo for a new LS500 AWD

My local Lexus dealer sends me this promotion of Lexus LS500 AWD, I'm very shocking that Lexus provides 2.9% APR to brand new LS class. , normally, this class never give such low financial aid.

https://www.lexusofbellevue.com/LexusOffers_D

It seems LS sales is struggle in north west, the dealer is aggressive to clean its stock, if anyone want to take this advantage, it's good time.

lexus LS 2018 sales: http://carsalesbase.com/us-car-sales...exus/lexus-ls/

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Old 08-06-18, 07:09 PM
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Sedans are dead for the most part in current market.
LS has many challenges so this is not surprising.

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Old 08-06-18, 07:52 PM
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Originally Posted by sears1234 View Post
My local Lexus dealer sends me this promotion of Lexus LS500 AWD, I'm very shocking that Lexus provides 2.9% APR to brand new LS class. , normally, this class never give such low financial aid.

https://www.lexusofbellevue.com/LexusOffers_D

It seems LS sales is struggle in north west, the dealer is aggressive to clean its stock, if anyone want to take this advantage, it's good time.

lexus LS 2018 sales: http://carsalesbase.com/us-car-sales...exus/lexus-ls/
Pretty surprised. Looks like Lexus might of over priced the car. In Canada, the new model is being offered with a $10K incentive for cash customers. Never seen an incentive that high on a first year model.
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Old 08-06-18, 10:14 PM
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Low financing is very common on most premium sedans (on the West Coast). I don't see anything out of the ordinary here other than it's on a car that just came out. Still not too bad though.
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Old 08-06-18, 10:47 PM
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Did you know the LS outsold every vehicle in its class last month?

Yes it is the newest offering and this probably won't last forever, but at this point it's not a failure.
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Old 08-07-18, 05:01 AM
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2.9% for 60mo's is just slightly better than my credit union (3.24%). So, not really anything to get excited over.
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Old 08-07-18, 05:22 AM
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penfed you can get 2.49 for 36 month loan, but that means high monthly payments. Heres more of their rates. so 2.9% from lexus isnt anything crazy. You can get 3.49% 60m here.

https://www.penfed.org/auto/new-auto-loans
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Old 08-07-18, 05:34 AM
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Originally Posted by Mike728 View Post
2.9% for 60mo's is just slightly better than my credit union (3.24%). So, not really anything to get excited over.
Was going to say the same thing, but I understand the OP's point, the vehicle just came out. The reality as was explained to me end of June, LS500s are not moving nor are RX-Ls. If I were really in the market? Wait for cash back, and make sure any incentive is on top of a "cash" price. The only time I've used captive financing was with the 1998 Maxima, but it was 5.9% "AND" $2500 cash back. Those were the days when people were getting $6500 off list if you had a pulse (that includes the rebate). In the newspaper there were brand new 1998 Maximas going for $14,900 hahahahahahaha sounds so cheap today. Today, it's like "I got a smokin' deal and got the LS down to 93k!"
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Old 08-07-18, 08:09 AM
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USAA Gave me 0% for 72 months on my Ram when I bought it. It's paid for now, but I refuse to pay interest on vehicles. If you cant get me to 0%, I will pay cash, or take the going rate to get the better deal at the dealership, turn around and pay it off on the first payment date. Time is money, I won't play games at a dealer. When I walk in, they are either going to sell me the car for what I want, or I will go somewhere else. There are way too many dealers around north texas to pay too much for a depreciating asset.

Anyway, at 2.9% for 60 months, unless you put a large down payment (like $50k) you will be upside down in no time. At that rate with 0 down, assuming an 80K out the door price, its $1434/mo. At that rate, you would not be able to pay it off faster than it depreciates. In 2 years, you could be as much as $20,000 upside down.
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Old 08-07-18, 08:39 AM
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The lease terms on it is exceptional as well. Good times to be going for high end luxury car models.
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Old 08-07-18, 08:55 AM
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Originally Posted by ArmyofOne View Post
USAA Gave me 0% for 72 months on my Ram when I bought it. It's paid for now, but I refuse to pay interest on vehicles. If you cant get me to 0%, I will pay cash, or take the going rate to get the better deal at the dealership, turn around and pay it off on the first payment date. Time is money, I won't play games at a dealer. When I walk in, they are either going to sell me the car for what I want, or I will go somewhere else. There are way too many dealers around north texas to pay too much for a depreciating asset.

Anyway, at 2.9% for 60 months, unless you put a large down payment (like $50k) you will be upside down in no time. At that rate with 0 down, assuming an 80K out the door price, its $1434/mo. At that rate, you would not be able to pay it off faster than it depreciates. In 2 years, you could be as much as $20,000 upside down.
I agree....bought 3 new cars, all financed, but last car said enough is enough and paid cash (albeit only $14k). In my mind, if I wanted a 2018 Grand Sport Vette, there is zero chance I would take $75k out of the bank, too risky. At the same time, would not be willing to pay even 2.9%--my brain says put 50% down incl. sales tax, finance rest, but like you, it can't be 2.9%. I am willing to do more than 0%, but not 2.9%. I could loan it to myself at 1.7% but again too risky, paying oneself back is a great idea but money has wings and has a tendency to get up and fly away. The sensible choice is no Grand Sport.
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Old 08-07-18, 09:01 AM
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Originally Posted by Johnhav430 View Post
I agree....bought 3 new cars, all financed, but last car said enough is enough and paid cash (albeit only $14k). In my mind, if I wanted a 2018 Grand Sport Vette, there is zero chance I would take $75k out of the bank, too risky. At the same time, would not be willing to pay even 2.9%--my brain says put 50% down incl. sales tax, finance rest, but like you, it can't be 2.9%. I am willing to do more than 0%, but not 2.9%. I could loan it to myself at 1.7% but again too risky, paying oneself back is a great idea but money has wings and has a tendency to get up and fly away. The sensible choice is no Grand Sport.
LOL those are stupidly priced IMO. wayyyyyy too much money to pay for a toy. My uncle just bought a carbon series Grand Sport Targa and it was over $100k. For a car you drive maybe once a week?

No thanks. If I want one of those, I will buy it when its a few years old, and someone else has taken the depreciation hit.
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Old 08-07-18, 09:20 AM
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Originally Posted by ArmyofOne View Post
LOL those are stupidly priced IMO. wayyyyyy too much money to pay for a toy. My uncle just bought a carbon series Grand Sport Targa and it was over $100k. For a car you drive maybe once a week?

No thanks. If I want one of those, I will buy it when its a few years old, and someone else has taken the depreciation hit.
Please, at least allow me to be foolish in my dreams!! lol

When I went to the launch of the 991 Porsche (holy cow that may have been 7 yrs ago?), I was talking to this gentleman...he told me in all he has had 5 911's at the time, 2 of which brand new. Went on to say if you have money then by all means order one exactly the way you want it, it's a very nice experience, did it 2X, but in his opinion, a 5 y.o. car is in the sweet spot. And as you point out, many are not daily driven....(though with AWD more are than 20 yrs. ago)
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Old 08-07-18, 09:45 AM
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Originally Posted by ArmyofOne View Post
Anyway, at 2.9% for 60 months, unless you put a large down payment (like $50k) you will be upside down in no time. At that rate with 0 down, assuming an 80K out the door price, its $1434/mo. At that rate, you would not be able to pay it off faster than it depreciates. In 2 years, you could be as much as $20,000 upside down.
You really think an $80k LS will only be valued at $31k in 24 months? That's some crazy depreciation!
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Old 08-07-18, 10:21 AM
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Originally Posted by Mike728 View Post
You really think an $80k LS will only be valued at $31k in 24 months? That's some crazy depreciation!
That doesn't sound right, it might go like $14k, $10k, $8k over the first 3 yrs., wild guess on a 90k list priced car. If there are incentives, that will add to the numbers.

I think what's genius in the car industry is for Madison Ave. to have taught people to say, "It's a ninety thousand dollar car." Why? Because the sticker says so. Brand new $90k BMWs can have $12k off as long as you have a pulse. In reality, it's a seventy-eight thousand dollar car. Finance guys use the latter, retail buyers like to use the former. Kinda like zillow, be honest, don't you love what they say your house is worth? Makes me feel rich! But I know it's a farce.
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