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Do you pay cash for your Lexus cars or finance them?

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Do you pay cash for your Lexus cars or finance them?

 
Old 05-13-19, 06:16 AM
  #46  
Johnhav430
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Originally Posted by pvsmith View Post
It wasn't just a total of $5,000, but that was for each credit card. I had five credit cards, and could put the entire $23,000 of the car's price on the credit cards.
Again, limited sample size, I've only purchased 4 cars from new car dealerships. On the first 3, they would not let me charge more than $2,000 as a downpayment. On the LS430, they let me charge $5000. I never thought of using multiple credit cards. I don't think it would have been allowed, but I did not ask. Next time I will. I always thought the reason against CC was not so much the interchange fees, but more the ease with which credit card transactions can be disputed by the cardholder.

I have to share because it's hilarious. I got a letter from AMEX stating that after careful review of my average spend, they have decreased my credit line. hahahahahahahahahahahaha (it's the blue)

I have had an account longer than the CEO of AMEX has. It was my 2nd credit card and I got it as a junior in college--they had people camped out at the LCs signing students up. So with that move? Citi being my first credit card, has a credit line 8X the amount of AMEX. And we wonder why Costco went with Citi?
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Old 05-13-19, 06:30 AM
  #47  
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Originally Posted by shadow1118 View Post
Cash, even the RCF, but it was certified pre owned, only $54k at the time. I have also never had a car payment.
My wife is like that, has never had an installment loan before. Supposedly that's bad for the FICO but she is around 3 pts from perfect, and I add for fun, is unemployed lol

In college, the crowd I ran with first two years, all drove expensive cars, 911, etc., all cash. They were my first ever exposure to the super rich, and were international students. More people are like this today (as seen on YouTube), but I don't think they have the same sort of wealth. There are more financial instruments today to get these items, than there were when I was in college.
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Old 05-13-19, 01:02 PM
  #48  
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Originally Posted by SW17LS View Post

People think cash will get them a better deal, but its usually the opposite.
It will if the cash deal is offered for cash only customers. The cheapest possible way to obtain a new 2018 Lexus LS500 is by paying cash. However, it might be possible to get some GM (maybe a Toyota) car somewhere for 0% financing which then makes no difference as long as the discount is the same. If the car is very desirable, in high demand, cash is likely your least costly method even if there is no discount.

Last edited by LexsCTJill; 05-13-19 at 01:06 PM.
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Old 05-13-19, 01:23 PM
  #49  
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Originally Posted by LexsCTJill View Post
It will if the cash deal is offered for cash only customers. The cheapest possible way to obtain a new 2018 Lexus LS500 is by paying cash. However, it might be possible to get some GM (maybe a Toyota) car somewhere for 0% financing which then makes no difference as long as the discount is the same. If the car is very desirable, in high demand, cash is likely your least costly method even if there is no discount.
Thats actually not the case, Lexus has lease cash and rebates tied to the lease that cash buyers aren't eligible for on the 2018 LS500.

There is a $7,500 rebate that is available for cash buyers, and a $2,500 loyalty OR conquest offer (these can be combined for a $10k rebate):



HOWEVER, if you lease there is an amazing $13,500 rebate that replaces the $7,500 rebate. The loyalty or conquest rebates can also be added to this bringing the total rebate to $16,000, and it can be used for financing as well:



So, paying cash means you are missing out on $6,000 in rebates.

Then there's the negotiation BEYOND the rebates, which is easier when the dealer is making profit on the financing too.

So, for a 2018 LS500 you're better off to finance it for a couple months and pay it off to get that rebate.
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Old 05-13-19, 01:30 PM
  #50  
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Originally Posted by SW17LS View Post
Thats actually not the case, Lexus has lease cash and rebates tied to the lease that cash buyers aren't eligible for on the 2018 LS500.

There is a $7,500 rebate that is available for cash buyers, and a $2,500 loyalty OR conquest offer (these can be combined for a $10k rebate):



HOWEVER, if you lease there is an amazing $13,500 rebate that replaces the $7,500 rebate. The loyalty or conquest rebates can also be added to this bringing the total rebate to $16,000, and it can be used for financing as well:



So, paying cash means you are missing out on $6,000 in rebates.

Then there's the negotiation BEYOND the rebates, which is easier when the dealer is making profit on the financing too.

So, for a 2018 LS500 you're better off to finance it for a couple months and pay it off to get that rebate.
Was only looking at Toyota Canada.

Originally Posted by SW17LS View Post

So, for a 2018 LS500 you're better off to finance it for a couple months and pay it off to get that rebate.
This sounds like a super rare case. Appears 0% is also available for the 2018 LS.
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Old 05-13-19, 01:42 PM
  #51  
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Originally Posted by LexsCTJill View Post
This sounds like a super rare case. Appears 0% is also available for the 2018 LS.
The size of the rebate is rare, but having rebates that are tied to using their financing is not rare at all, its very common. In leasing its considered "lease cash" and in fact every car I have ever leased has had a rebate specifically tied to leasing or financing.
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Old 05-13-19, 01:52 PM
  #52  
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Originally Posted by SW17LS View Post
The size of the rebate is rare, but having rebates that are tied to using their financing is not rare at all, its very common. In leasing its considered "lease cash" and in fact every car I have ever leased has had a rebate specifically tied to leasing or financing.
For sure. What I mean is that it is not very common to take a finance, then pay it off just to the get the bigger the rebate. It is also not very common to have a large rebate, but no finance rebate either.
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Old 05-13-19, 01:56 PM
  #53  
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When I was looking at the Stingers, they had huge lease cash. Depending on month, it would be like $1000 rebate for cash or finance, and $7000 for lease. Over on the Stinger forums, they have a sticky explaining how to do the lease to get the rebate, then finance it or pay it off in cash.
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Old 05-13-19, 02:34 PM
  #54  
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Originally Posted by SW17LS View Post
Thats actually not the case, Lexus has lease cash and rebates tied to the lease that cash buyers aren't eligible for on the 2018 LS500.

There is a $7,500 rebate that is available for cash buyers, and a $2,500 loyalty OR conquest offer (these can be combined for a $10k rebate):



HOWEVER, if you lease there is an amazing $13,500 rebate that replaces the $7,500 rebate. The loyalty or conquest rebates can also be added to this bringing the total rebate to $16,000, and it can be used for financing as well:



So, paying cash means you are missing out on $6,000 in rebates.

Then there's the negotiation BEYOND the rebates, which is easier when the dealer is making profit on the financing too.

So, for a 2018 LS500 you're better off to finance it for a couple months and pay it off to get that rebate.
Where do you see the lease rebate? I was just looking at is just limited to the LS500 AWD only.
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Old 05-13-19, 03:04 PM
  #55  
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Originally Posted by LexsCTJill View Post
For sure. What I mean is that it is not very common to take a finance, then pay it off just to the get the bigger the rebate. It is also not very common to have a large rebate, but no finance rebate either.
Like I said in this case you can get the $13k rebate if you finance it or lease it even though its marketed as just for a lease. Thats not typical though. Its very common to have lease rebates but no finance rebates on luxury cars.

I tell people to finance the car and pay it off to get the rebate all the time. People don't think to do that but its beneficial more often than you think.

Originally Posted by LexsCTJill View Post
Where do you see the lease rebate? I was just looking at is just limited to the LS500 AWD only.
Its the bottom one "Lease Bonus $ Offer" "Bonus Cash is available towards leasing on LFS subvented contracts"

If you look at the $7,500 rebate it says "(not compatible with subvention programs)" that means you cant have both the $7,500 rebate and the $13,500 rebate.
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Old 05-13-19, 03:06 PM
  #56  
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Financing the Lexus with a really low apr. I’ll be paying he loan off early.
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Old 05-13-19, 03:09 PM
  #57  
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Originally Posted by SW17LS View Post
e and the $13,500 rebate.
I found the rebate what you were talking about. But then when you look at the $13.5K rebate, it is just limited to the 2018 LS500 awd. No RWD or F-sport. The cash $10K is for every model.
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Old 05-13-19, 03:14 PM
  #58  
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Originally Posted by LexsCTJill View Post
I found the rebate what you were talking about. But then when you look at the $13.5K rebate, it is just limited to the 2018 LS500 awd. No RWD or F-sport. The cash $10K is for every model.
All they stock in my region are AWD cars. And it would include the F Sport, which also comes AWD.
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Old 05-13-19, 03:18 PM
  #59  
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I just double checked, that is not correct. The rebate works for RWD cars also:


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Old 05-13-19, 03:19 PM
  #60  
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And for F Sport:

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