View Poll Results: Cash or finance?
Cash
35
63.64%
Auto loan
17
30.91%
Lease
5
9.09%
Multiple Choice Poll. Voters: 55. You may not vote on this poll
Do you pay cash for your Lexus cars or finance them?
#46
Lexus Fanatic
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?
#47
Lexus Fanatic
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.
#48
Lexus Fanatic
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 Toys4RJill; 05-13-19 at 01:06 PM.
#49
Lexus Fanatic
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.
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.
#50
Lexus Fanatic
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.
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.
This sounds like a super rare case. Appears 0% is also available for the 2018 LS.
#51
Lexus Fanatic
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.
#52
Lexus Fanatic
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.
#53
Lexus Champion
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.
#54
Lexus Fanatic
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.
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.
#55
Lexus Fanatic
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.
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.
#57
Lexus Fanatic
#58
Lexus Fanatic
All they stock in my region are AWD cars. And it would include the F Sport, which also comes AWD.
#59
Lexus Fanatic
I just double checked, that is not correct. The rebate works for RWD cars also:
#60
Lexus Fanatic
And for F Sport: