2013 GS350 F Sport lease. Good deal?
06-22-13, 08:17 AM
#16
Driver School Candidate
I'm not sure what the residual is. I still haven't seen all the numbers. I'm scheduled to go in to sign the paperwork next Friday then I'll know all that stuff. I have a 2012 F150 FX4 I'm trading in and am $13K upside down on. The Lexus dealer said they would pay it off add the $13K to the GS350 (actually bringing the total price to $71K if I were to finance it) and I guess that's why the price is so high. But, for a 36 month lease and reading about every one else paying half that or even a third of that most of the time, I'm about to back out of the lease completely.
06-22-13, 08:32 AM
#19
Driver School Candidate
I don't know how leasing works but, I thought it was based on the amount of the car you would pay for over a certain time (36 months or whatever) and not the total price of the car. Can someone explain the whole thing to me before I jump into a lease agreement I might regret and be stuck with? For $1,300 a month I might as well just finance the thing for a total price of $71K (including my trade in).
06-22-13, 08:51 AM
#20
If you can afford that kind of payment, then I'd recommend paying down your trade-in. Were you upside down on the previous vehicle you traded in on your truck (if you traded in).
06-22-13, 09:03 AM
#21
Driver School Candidate
I didn't have a trade in that time. I financed the truck for $58K and in 10 months time I paid it down to $48K. This is the first time I've considered a lease but, it seems like either I am missing something or the dealership is because it doesn't make any sense that a lease payment would cost more than financing.
06-22-13, 09:08 AM
#22
I didn't have a trade in that time. I financed the truck for $58K and in 10 months time I paid it down to $48K. This is the first time I've considered a lease but, it seems like either I am missing something or the dealership is because it doesn't make any sense that a lease payment would cost more than financing.
06-22-13, 09:14 AM
#23
Driver School Candidate
KBB says $33K and I'm grateful that they are even considering paying it off. My problem is dealing with a $1,300 a month lease payment...it doesn't make any sense.
06-22-13, 09:19 AM
#25
Something isn't adding up. I thought you can lease a GS350 for about $500+ a month. There is no way the $13K from the truck loan would add $800 a month to the lease payments.
06-22-13, 09:27 AM
#26
Driver School Candidate
That's what I'm thinking, too. More and more I'm thinking that quote was based on me financing the new GS with my trucks upside down payoff. But, can someone tell me how the lease is suppose to work with a trade in like this? How does it effect the cost of the lease if it's only for 36 months compared to a 5 year finance? I'm trying to make sense of all this and I'm really confused by it.
06-22-13, 09:30 AM
#27
$1,300 a month sounds right though for a $71,000 loan over 60 months at 3% interest.
06-22-13, 09:37 AM
#29
Driver School Candidate
Yes but, I'm looking at leasing the car for 36 months. I still don't understand the large payment for a lease compared to financing. I might as well just buy the car at this point...and step up to the LS F Sport while I'm at it.
06-22-13, 10:03 AM
#30
Pay off the $13K upside debt on the truck. Make things really simple for you.