Question on leasing GS350
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Driver
Joined: Feb 2010
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From: ny
Question on leasing GS350
Ive tried searching but couldn't find an answer. Well its been only a month since Ive let go of my GS430 and I already miss it 
so Ive decided to lease a GS350 and this would be my first time actually leasing a car. My credit is almost near perfect so the dealer offered me no money down 3 years/15k miles per yer for about 607$ including tax per month for a fully loaded 2010 GS350 but insist I must pay drive off fees and taxes up front which was about 3500. Must this be paid up front or can you negociate to have it spread out through the monthlys? Like I said my first time leasing so im clueless in regarding fees and etc. From what I can remember a good friend of mine who leased a IS350 paid just an aquisition fee which was only about 700$.
so Ive decided to lease a GS350 and this would be my first time actually leasing a car. My credit is almost near perfect so the dealer offered me no money down 3 years/15k miles per yer for about 607$ including tax per month for a fully loaded 2010 GS350 but insist I must pay drive off fees and taxes up front which was about 3500. Must this be paid up front or can you negociate to have it spread out through the monthlys? Like I said my first time leasing so im clueless in regarding fees and etc. From what I can remember a good friend of mine who leased a IS350 paid just an aquisition fee which was only about 700$.
Last edited by Rain; May 14, 2010 at 08:35 AM.
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From: NC
Lead Lap
Joined: Jul 2006
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From: CA
I'm from the school of...unless you can write off the car (i.e. business expense), try and buy the car (you can afford). Most private party leases are by people who can't afford what they are driving.
An acquaintance who I met at a party a few weeks ago is a 'repo man'. He said business is booming and he's never made so much money. Most of the cars he takes back are MB's, BMWs, Nissan's, Chryslers and Lexus. Of the high end cars, the owners live in lower to middle income neighborhoods yet 'own' mid size and full size luxury cars. Well..you know how the story ends.
An acquaintance who I met at a party a few weeks ago is a 'repo man'. He said business is booming and he's never made so much money. Most of the cars he takes back are MB's, BMWs, Nissan's, Chryslers and Lexus. Of the high end cars, the owners live in lower to middle income neighborhoods yet 'own' mid size and full size luxury cars. Well..you know how the story ends.
3500 is basically the cap cost reduction. rough calculation, that's pretty much 100 bucks a month over 3 yrs, so your lease is effective around 700 bucks a month if you insist on 0 drive off (and only pay first month). that's a reasonable deal overall on lease
if you want to lease, you should really google it and fully understand how it works, it's only going to work to your advantage when you negotiate with the dealerships.
as others mentioned, if you want to lease, you want to have good reasons to. there can be a few reasons where leasing is more beneficial, but you shouldn't do it out of random reasons
if you want to lease, you should really google it and fully understand how it works, it's only going to work to your advantage when you negotiate with the dealerships.
as others mentioned, if you want to lease, you want to have good reasons to. there can be a few reasons where leasing is more beneficial, but you shouldn't do it out of random reasons
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Thread Starter
Driver
Joined: Feb 2010
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From: ny
Portion of the car. Just got a call from the dealer and they said first months payment and plate fee for drive off. Monthly would come out to 701 over 3years/15k miles, wondering if this is a good deal 
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lol, just as i calculated before. i think that's pretty good deal overall considering it's 15k miles lease.
i don't mind going through math 
i did a lot of homework and study before i started leasing, that's why i am used to how they play with the numbers and how i can be sure what i am actually getting. basically i just asked for their numbers, did my math, and told them what i wanted. trust me, once you are able to do it, you feel so much better about your purchase
i did a lot of homework and study before i started leasing, that's why i am used to how they play with the numbers and how i can be sure what i am actually getting. basically i just asked for their numbers, did my math, and told them what i wanted. trust me, once you are able to do it, you feel so much better about your purchase
Racer
Joined: Dec 2009
Posts: 1,340
Likes: 70
From: Texas
I'm from the school of...unless you can write off the car (i.e. business expense), try and buy the car (you can afford). Most private party leases are by people who can't afford what they are driving.
An acquaintance who I met at a party a few weeks ago is a 'repo man'. He said business is booming and he's never made so much money. Most of the cars he takes back are MB's, BMWs, Nissan's, Chryslers and Lexus. Of the high end cars, the owners live in lower to middle income neighborhoods yet 'own' mid size and full size luxury cars. Well..you know how the story ends.
An acquaintance who I met at a party a few weeks ago is a 'repo man'. He said business is booming and he's never made so much money. Most of the cars he takes back are MB's, BMWs, Nissan's, Chryslers and Lexus. Of the high end cars, the owners live in lower to middle income neighborhoods yet 'own' mid size and full size luxury cars. Well..you know how the story ends.
Yes, there are people who lease who keep your friend in business. But the same can be said for people who buy.
As to how good the deal is - as some have said, it depends on how taxes are calculated and paid in your state. But without tax, 701 sounds very fair for a three year/15k per year lease. But be sure to look at every aspect of the deal just like you would if you were buying. What is the "sell" price, what is the money factor and what is the residual. The residual is set by Lexus Financial and the money factor has a base rate set by Lexus - but the dealer can (and usually does) mark that up.
Racer
Joined: Dec 2009
Posts: 1,340
Likes: 70
From: Texas
I have no doubt that there are folks who shouldn't lease one - but I still say it's not different than people who finance with not enough down and wind up upside down. I'll admit that I have friends who are not living on the edge who lease cars and could easily afford to pay cash and not even miss the money (btw, I live withing my means - but I'm not a high roller).
Rookie
Joined: Nov 2009
Posts: 51
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From: MD
Many who lease just want a new car every 3 years, with warranty and always latest model/technology. And with most leases, if you negotiate, you end up financially almost the same as if you bought the car, then sold it every 3 years.