2021 Lease/Purchase
08-13-20, 12:56 PM
#1
Super Moderator
Thread Starter
2021 Lease/Purchase
I will un-sticky the similar 2020 thread later in the year as 2020 inventory and posts decrease
2021 models on Autotrader
2021 models on Autotrader
Last edited by Acrad; 09-03-20 at 04:59 AM.
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coolsaber (08-13-20)
08-20-20, 06:17 PM
#2
Not necessarily year specific, but has anyone had success custom ordering a GX with any reasonable discount? No dealer I've spoken with is interested in orders even with a deposit.
09-14-20, 05:17 PM
#3
Driver School Candidate
This question is for #coolsaber or anyone who'd like to contribute. I'm in DC area and I am looking to buy a 2021 GX460 Luxury with the off-road package. I don't have to buy it until next year March/April/May so I have ample time to wait for a deal to come by. In your previous posts, you mentioned GX 460 Luxury is rare on Lexus dealers' lots. I'd imagine it's going to be even more rare to have one with the off-road package. What if I have no choice but to order one with the color I like. How much should I pay? Does the formula you mentioned in your previous posts can still be applied in this case?
Current Deals
Invoice: 91% of sticker price
Lexus Cash: $2500 in March (2000 since MY20)
Best price according to invoice-LFS Csh would be around 14-16% off sticker
If worst comes to worst, I will just get a GX460 Luxury with the panoramic view monitor without the off-road package since the panoramic is what I'm looking for mainly. A member mentioned he helped his friend get a 2020 GX460 Luxury with 15% off MSRP. Do you think with the economy slowly recovers, 15% off MSRP would still be doable for a 2021 GX460 Luxury in December or Q1 next year? Thanks.
Current Deals
Invoice: 91% of sticker price
Lexus Cash: $2500 in March (2000 since MY20)
Best price according to invoice-LFS Csh would be around 14-16% off sticker
If worst comes to worst, I will just get a GX460 Luxury with the panoramic view monitor without the off-road package since the panoramic is what I'm looking for mainly. A member mentioned he helped his friend get a 2020 GX460 Luxury with 15% off MSRP. Do you think with the economy slowly recovers, 15% off MSRP would still be doable for a 2021 GX460 Luxury in December or Q1 next year? Thanks.
09-24-20, 10:12 PM
#4
Lead Lap
I`ll post a more detailed "wrap up" for MY2020 in the following days.
However the short and simple is until further notice, minus an Lexus IS200/300 or GS as both of those models are being either discontinued and/or being heavily refreshed I`d hold off any purchases/leases well into the new year for any Lexus
However the short and simple is until further notice, minus an Lexus IS200/300 or GS as both of those models are being either discontinued and/or being heavily refreshed I`d hold off any purchases/leases well into the new year for any Lexus
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kristisipe (09-26-20)
09-30-20, 08:29 PM
#5
Lead Lap
MY21 Production door jam plates actually indicate the GX production started in August of this Year.
Vehicles have already been coming in by the truck/boatload and in the next 2 weeks the number of MY21s should equal MY20s remaining on the lot.
Vehicle rebates are back to their normal levels during this time of the year $2k (i dont think will change anytime soon).
Vehicles have already been coming in by the truck/boatload and in the next 2 weeks the number of MY21s should equal MY20s remaining on the lot.
Vehicle rebates are back to their normal levels during this time of the year $2k (i dont think will change anytime soon).
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kristisipe (10-01-20)
10-18-20, 08:27 AM
#6
Lead Lap
So by the looks of inventory on the ground, there is A TON of options to go by at some dealers.
For reference, 2500 units a month sold, 1500 units mid month on the ground
1) Lease residuals for this month look amazing, so if your in the market jump in, usually the majority of Lexus sales.
2) Folks who are buying outright, its a mixed bag.
a) No 0% financing, just 1.9, which is better then the market
b) Below invoice is the target, 12-13% is possible pre-incentive, post-dealer fees but as usual its not going to be their first offer.
3) As usual Luxury and base are few and far between. Premium trims galore.
For reference, 2500 units a month sold, 1500 units mid month on the ground
1) Lease residuals for this month look amazing, so if your in the market jump in, usually the majority of Lexus sales.
2) Folks who are buying outright, its a mixed bag.
a) No 0% financing, just 1.9, which is better then the market
b) Below invoice is the target, 12-13% is possible pre-incentive, post-dealer fees but as usual its not going to be their first offer.
3) As usual Luxury and base are few and far between. Premium trims galore.
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10-18-20, 08:15 PM
#8
Lead Lap
10-19-20, 05:04 AM
#9
Instructor
That won't be happening. Love the color but it's not worth what it would cost us to make it happen. Plus if we were in the market to spend 100K on the vehicle, which we are not, we'd likely buy a decked out, dark green R1S, not the LX. It is nice to see Lexus/Toyota put a green color on a 4x4 though!
Last edited by nuclearn8; 10-19-20 at 11:34 AM.
10-19-20, 07:22 PM
#10
Looking for Nightfall Mica, Premium or Premium plus. Dealers have a bunch coming in November. Got a price from one but they only took off 1600 off MSRP. Sending out to other dealers in other states to see if I can get a better price.
There are two Lexus dealers in my state, but they are owned by the same company. The inventory on each dealer is the same as the other.
Any tips for getting to invoice or below?
Thank you.
There are two Lexus dealers in my state, but they are owned by the same company. The inventory on each dealer is the same as the other.
Any tips for getting to invoice or below?
Thank you.
10-19-20, 07:32 PM
#11
Looking for Nightfall Mica, Premium or Premium plus. Dealers have a bunch coming in November. Got a price from one but they only took off 1600 off MSRP. Sending out to other dealers in other states to see if I can get a better price.
There are two Lexus dealers in my state, but they are owned by the same company. The inventory on each dealer is the same as the other.
Any tips for getting to invoice or below?
Thank you.
There are two Lexus dealers in my state, but they are owned by the same company. The inventory on each dealer is the same as the other.
Any tips for getting to invoice or below?
Thank you.
10-19-20, 07:42 PM
#12
10-20-20, 11:21 AM
#13
Lead Lap
1) Yup they are available as certain dealerships. However if the dealership is down to double digit vehicle inventory levels overall or if the dealership has single digit GX inventory.....good luck with even getting anything less then sticker.
2) less then 150 2020 GXes remain in the market. If that 4k cash is all you care for, regardless if it makes a difference on the final price, then jump into a 2020 while you still can. IMHO, dealers who have their remaining units are holding them close to their heart since they only have less then 70 cars on the lot to sell....each unit is sold for maximum gross. I had a dealer tell me some combination was rarer then gold yet the vehicle has been on their lot since the summer....take it as you may but dealing with such is a total time waste.
3) Lexus has historically taken a very conservative approach to incentives, the past a couple of months have been interesting where the other marques including Toyota dumped incentives almost instantly to the varying market forces, while Lexus took almost months to respond.
2 ways this will play out:
Lexus can follow their yearly pattern of cash incentives
Last year it was I believe 2k lexus Cash or 1.9/60 finance., starting Nov 1 ending in Jan 2nd. This was December 2 remember.
or
if market forces exist move up their cash.
Residual values, Money factor, and anything lease related, I don't have a clue for the event, since those are quite fluid and can change month to month. Right now the residuals are high, so leasing is good.
I`m human, and not without error so take this as you may.
2) less then 150 2020 GXes remain in the market. If that 4k cash is all you care for, regardless if it makes a difference on the final price, then jump into a 2020 while you still can. IMHO, dealers who have their remaining units are holding them close to their heart since they only have less then 70 cars on the lot to sell....each unit is sold for maximum gross. I had a dealer tell me some combination was rarer then gold yet the vehicle has been on their lot since the summer....take it as you may but dealing with such is a total time waste.
3) Lexus has historically taken a very conservative approach to incentives, the past a couple of months have been interesting where the other marques including Toyota dumped incentives almost instantly to the varying market forces, while Lexus took almost months to respond.
2 ways this will play out:
Lexus can follow their yearly pattern of cash incentives
Last year it was I believe 2k lexus Cash or 1.9/60 finance., starting Nov 1 ending in Jan 2nd. This was December 2 remember.
or
if market forces exist move up their cash.
Residual values, Money factor, and anything lease related, I don't have a clue for the event, since those are quite fluid and can change month to month. Right now the residuals are high, so leasing is good.
I`m human, and not without error so take this as you may.
Last edited by coolsaber; 10-20-20 at 05:12 PM.
10-21-20, 08:58 PM
#14
For sure and I'm not necessarily challenging the 12-13% pre-incentive price target on 2021 sales but more asking how you get there. It seems like the number of 2021s that have actually been negotiated or sold is too small to establish any pattern.
I checked Edmunds for lease residuals on 2021s after you mentioned them and it looks like 60-62% on Premium trims is common. Not sure what the 2020s were but that does seem pretty good.
I checked Edmunds for lease residuals on 2021s after you mentioned them and it looks like 60-62% on Premium trims is common. Not sure what the 2020s were but that does seem pretty good.
Last edited by Mazderati; 10-21-20 at 09:02 PM.
10-22-20, 09:37 AM
#15
Lead Lap
Source: I`m in the market for another Lexus, and I have been talking shop on a Premium Plus to see if this would be a good upgrade.
Residuals are half the picture, mF needed to be added in as well. However from a pure Residual POV, which is where my advice above comes from Luxurys are much lower on residuals naturally (I believe 5X%) and premiums anything above 60% is good. I have zero clue on the base GX. The unknown this year however is how is LFS treating Premium Plus (will that be treated as just a Premium?).
The other thing is the sample size on the past 2 months (Sept and Oct) have been sales from primarily MY21s. Never to my knowledge have previous MY levels been soo low by the start of September.
Fun Observation: During the past couple of months, dealers have been making it simple, and making dealer addenums like coatings, tinting, Nitrofill optional on their discussions or even going so far as removing them to talk price. Now however the dealer addenums are coming back with a vengeance, where some quotes have discounts that basically equal or less in value once you add up all those addons.
Yikes!
Residuals are half the picture, mF needed to be added in as well. However from a pure Residual POV, which is where my advice above comes from Luxurys are much lower on residuals naturally (I believe 5X%) and premiums anything above 60% is good. I have zero clue on the base GX. The unknown this year however is how is LFS treating Premium Plus (will that be treated as just a Premium?).
The other thing is the sample size on the past 2 months (Sept and Oct) have been sales from primarily MY21s. Never to my knowledge have previous MY levels been soo low by the start of September.
Fun Observation: During the past couple of months, dealers have been making it simple, and making dealer addenums like coatings, tinting, Nitrofill optional on their discussions or even going so far as removing them to talk price. Now however the dealer addenums are coming back with a vengeance, where some quotes have discounts that basically equal or less in value once you add up all those addons.
Yikes!