baon

Yea, the deal and residual are confirmed. Leasing is much better. I didn't do it though, they required me to fly there to sign the lease and I don't have the time due to end of the semester + summer vacation right after. I thought I could just do everything online or via mail. Just gonna stick with the 350 for a couple more years.

My lease value looks better but it depends on your residual value too.

NickL

Man, this is uncool. You're misleading members of this forum. I'm currently working with Gemma on a deal with this vehicle and I just called and mentioned the leasing term you've posted. She said it's misleading because you have about $16K in equity toward the vehicle. Someone else had also called and she told him the same thing.
If it's too good to be true, it probably is!
There's a 2016 GSF sitting in the Watertown, MA near Boston dealer that can be had for quite a deal at this point. Used 2016 are also showing up more and more in the mid 50s.

baon

Oh, that's my mistake then. I didn't know my equity actually went into play. I'm not sure how that works because if my equity is counted in the lease, then the deal is actually quite bad.

I must have understood something then since the vehicle itself is discounted to 72k for finance then down even more with my equity from the finance quote. Is there no discount for the lease from the MSRP price?

25920 lease payments + $43815.12 = $69735.12
I don't quite understand how my equity plays into this. The lease deal is certainly extremely good but not 16k equity good. It would make sense if the lease calculation uses something closer to the MSRP without any big discount.

NickL

You need to take some finance class or talk with a financial advisor.
If you're trading in a vehicle with an equity of 16K, the final price on the car you're leasing is 69.7K+16K=85K. This is inline with what she offered me as a lease.
No dealer will give you a better lease deal than financing a vehicle. No one will give you a free loan. They're in business because they're making money not giving freebies.
I like to hunt for deals and I think I did pretty god with the two vehicles I have. But understand that a dealer has to make money on the deal otherwise why would they be in the business.

baon

First of all, your posts carry an unwarranted aggression and condescension. I'm sorry that I have wasted ten minutes of your time.

Now, to get to the issue or the misunderstanding at hand, I asked her several times about the downpayment and the answers were vague. She simply stated that I only need to pay the first month. In my mind, the 16k equity counts as a downpayment and no one would pay that much down for a lease, that's insane. I assumed I would just be trading in my vehicle for a check in case of a lease. The equity would have been fine for financing.

First email: "Sorry, I don't quite understand why the lease payment is so favorable. Are there any acquisition and miscellaneous fees that I am missing? Is the money factor included in the $703 already? 703x36 = 25,308 + 43,185 = 68,493 "

She replied: "The all inclusive lease quote at 36 months with 7,500 miles/year is $720/month. This quote includes all fees (ie, taxes, tag & titling, dealer processing, and lease acquisition). Shipping would be an additional and separate cost that would be payed to whatever transporter you choose to use."

Second email from me: "For further clarification, there is no downpayment on this lease? I just need to pay the first 720 monthly and so on and so forth for 36 months with no other fees outside of delivery? The end residual will be $43,185.12 at the end of the term."
She answered, "Yes, just first payment is due at signing. At 36 months at 10k miles/year: $744/month"

I asked again: "If it is $720/month all inclusive for 36/7,500 and the residual would be $43,185.12 with no other hidden cost, then I would like to take this deal. Could you let me know the delivery fee as well as the lease buyout fee if I do choose to buy it at the end?"
She replied, "Yes, that information is correct. $720/month at 36/7,500. That quote includes all sales fees. Residual is $43,185.12."

These were my questions. I'm not saying she was at fault but the misunderstanding is the different MSRP of the finance and lease, which led to a discrepancy in price and confusion. I asked this thread and her for confirmation above several times. Now it makes sense that the lease uses an MSRP of 85k instead of the discounted 72k MSRP. If she has talked about the 16k equity into the lease, none of this confusion would have happened.

I didn't get an official quote with everything for the lease but I did ask multiple times. If I had gotten a full quote with the calculations in a PDF, this wouldn't have happened. I just don't understand your rudeness when I came with good intentions.

This is to defend myself, I'll be replying in PMs from now on to not flood the thread.

NickL

I apologize if I came off aggressive.
I'm glad you've realized what's going on before taking that flight or the long drive to MD.

jjman007

Paid $69,440 for a new 2017 Smokey Grey Mica/ Light Grey interior GSF before tax, title and a $300 dealer fee. It has ~2k miles on it as it was a managers car but also has 3m paint protection on the front bumper, entire hood, mirrors, and door sills.

gadgetguy1

Same here!!

gadgetguy1

That is a GREAT DEAL on a GREAT CAR!!

Last week I looked at a 2016 GS-F, Lexus Certified with 4,500 Miles, Black / Black for $65,000 at a dealer.

Fatbarney

Great deal. I had been eyeing that car since Nov, but they were never willing to go below $75k, so picked up a 2018 from another dealer 2 months ago.

2W2X1

Just took possession of a 2017 GSF with 8K miles. $64.3k in like new condition. Super happy with it being here in TX, they don't come available often.

gadgetguy1

2W2X1

Local dealer which included CPO which is a better warranty deal than buying a new 2018. Really was a no brainer.

hnamanh

Hi all, I'm in the market for a used or new GS F. What is a good price for a use or new and is there any deals going now?

IMAGINTHAT

No deals that I am aware of on '18 MY cars aside from the 2k Lexus cash. That said, no real differences between the '18 vs '17's.

Generally speaking you'll see '16's in the mid to high 50's and '17's in the mid to high 60's.

Search Autotrader and you can get an idea of where prices are at; of course these are only asking pricing and referencing this thread gives you an idea of what people are actually paying.

If you want a new never titled leftover '17 I would shoot for $68-69k, if they won't sell to you at that price they probably will never sell it, they will turn it over to their used car dept.
and jack up the price as a gently used low mile car for $74k. Best of luck with your search.