djrabbi

iTrader: (2)

Hello Everyone,

Complete newb to Lexus and leasing scene so looking to get fellow members help on this. I currently own a BMW X5 and been nothing but a roller coaster. Always had German cars besides my Civic. Looking to get back into the JDM world!

2015 GS350 F-Sport AWD
MSRP: 59,xxx

Down Payment: $2500
Payment: 529/Month
Miles: 10k/yr

I haven't put my app in YET because I am waiting to get rid of my X5 first or maybe I should to get an idea? If I go to multiple dealers, will they keep pulling credit or one from Lexus Financial will do across the board?

vinnier6

There is a post on here with pages of lease deals with everyone's details...

I would think you can get that deal with no money down and 15k miles

djrabbi

iTrader: (2)

I saw that thread before creating BUT looking to see what people in the North East (NJ, VA, MD, NY) are getting because West Coast gets all the good deals! I am looking to stay around or lower than $500. I don't mind putting few dollars down but I have an inch to mod the car already!

djrabbi

iTrader: (2)

If you can post that thread would be awesome! Maybe I was looking at another one? Seems to be a few of them with 15+ pages

LI Lexus

Need more info

what is the MSRP
what is the sell price
what is the term amount( how many months?)

what is the $2500? is it straight cap cost reduction

dealer should not pull credit EVER until you are ready to sign the paper work, you should now if you are Tier 1 before you walk in to a dealer.

jarabanos

I believe this is the master thread:
https://www.clublexus.com/forums/gs-...ort-lease.html

I agree I think you can get a better deal but don't know for certain unless you're able to get the Money Factor, Residual, and Negotiated Price.

Don't ever let the dealer know your ball park range. This is a one shot kill for them to give you a $XXXX down $700/month default response. Ridiculous...

First settle on the negotiated price (that is the price you pay to get the car which is usually a lower amount than MSRP) and figure it out from there. In SoCal it's easy to get 8-10% off MSRP as the negotiated price. Find out what people in your area are getting off MSRP and leverage dealership competition if it exists in your area to make them work for your business.

When I had an IS350 I was also able to leverage TrueCar to get the dealer to come down on the negotiated price.

When I got my 4GS I told the dealer that I was offered a negotiated price several thousand dollars less than they were offering me and told them I was leaving and they did everything they could to get me to stay, blow the car out at a rock bottom price, and get me to sign on the dotted line which I eventually did.

Good luck!

jarabanos

Also the general rule of thumb on a lease is to never put money down.

If you total the vehicle, the gap insurance will pay for the repairs but you will not be recouped for the money you put down on your vehicle. A better option is to put that money down toward MSDs (multiple security deposits). You can put up to 9 MSDs down on your vehicle and each one lowers your money factor by a certain amount determined by Lexus Financial thus lowering your monthly payment. They hold onto that money for the duration of your lease and at the end, you get it all back or to use toward future financing collateral or MSDs on a new lease contract.

djrabbi

iTrader: (2)

I dealt with an Auto Broker in Miami for this car but doesn't have ML, which I realllly want in the GS

http://www.jmlexus.com/details/2015-.../3898884?cid=4

I wouldn't know the MF at the moment as I know I am NOT Tier 1 as I will have my fiance co-sign along with me so might be Tier 1-2 at this point. TrueCar is saying 4.5-5.4% leverage, which is around $3500 or so.

KICKER: I was selling my X5 today and guy bailed so might go in with the trade-in BUT I know it will be upside down as I just bought the car last month so maybe they can willing to pay off my car completely in full.

djrabbi

iTrader: (2)

Spoke with a "local" dealer and found the car I want with all the options!

MSRP:$59,325.00
Selling Price: 54,890 (Didn't even Negotiate)

Since I didn't even negotiate at all, do you think I can get them even lower or take it? I haven't told her it is going to be a lease as I know they don't make as much. I think that is a great discount as other dealers were saying $1800-$2500 max. Please let me know how to go about this now.

Crafted4GS

I think you could get this car with 0 money down and 12k a year for roughly 500 bucks a month.

djrabbi

iTrader: (2)

I was thinking same with $500-$525 with taxes

edittman1

Use MSD's. Best advice.

djrabbi

iTrader: (2)

how much should i put?

jarabanos

If I remember right 1 MSD is the equivalent of what your Monthly payment would be rounded up to the nearest 50 or 100 dollars.

So if your payment is 525, each MSDs would be $550. If it was $575 it would be $600 for each MSD. You can apply up to 9. You'll have to check with LFS to see what each one will lower your money factor by. In the $550 scenario you would need to come up with $4950 cash up front for the MSDs to get the maximum savings (low money factor = lower monthly payment). It's a good idea for you if you don't think you'll qualify for tier one plus credit.

jarabanos

Also in regard to the offer you were given I think you can negotiate even lower. Make them work for it. And ask them to give you a line by line summary of all the details that go into their offer. When I negotiated my lease I was given a piece of paper upon request that listed all details including MSRP, Selling Price, Residual, Money Factor, Cap Cost Reduction (which they gave to me in the form of customer cash, lease incentive. I didn't actually put anything down), acquisition fee, and all the other charges they apply. Make sure You understand everything they are charging you so they aren't able to swindle you out of a single penny.