Please evaluate my lease.
03-15-15, 12:53 PM
#1
Driver School Candidate
Thread Starter
Join Date: Mar 2015
Location: mt
Posts: 10
Likes: 0
Received 0 Likes
on
0 Posts
Please evaluate my lease.
Gross cap cost 58,215.00
Cap cost reduction 4,264.70
Adjusted cap cost 53,950.30
Residual value 34,608.22
Depreciation 19,342.08
Rent charge 3,825.72
Total of base pmts 23,167.80
Term 36 mo
Payments 643.55
The lease is for a 2015 RX 450H. MSRP was around 58,750. Never leased before. Credit rating above 800. Does this look reasonable? Thank you!
Cap cost reduction 4,264.70
Adjusted cap cost 53,950.30
Residual value 34,608.22
Depreciation 19,342.08
Rent charge 3,825.72
Total of base pmts 23,167.80
Term 36 mo
Payments 643.55
The lease is for a 2015 RX 450H. MSRP was around 58,750. Never leased before. Credit rating above 800. Does this look reasonable? Thank you!
03-15-15, 03:43 PM
#6
Lexus Test Driver
Yep $1500 cash back. So sell price is say $54.5 which is Invoice. But there is $1500, so the sell price is actually $56k.
$56,000-1500= $54.500
I think you could do better, $53,500 oraybe even $53,000 !! Which is another $30-45/m less
$56,000-1500= $54.500
I think you could do better, $53,500 oraybe even $53,000 !! Which is another $30-45/m less
Last edited by FastTags; 03-15-15 at 04:08 PM.
Trending Topics
03-15-15, 04:55 PM
#8
Driver School Candidate
Thread Starter
Join Date: Mar 2015
Location: mt
Posts: 10
Likes: 0
Received 0 Likes
on
0 Posts
I actually got it in Spokane Wa. The residual value went up 2,000 after I drove the 180 miles to get it. After that, I felt like I couldn't trust them on anything. I took the deal but after really looking at it, I started to question what just happened. I decided to come here after becoming overwhelmed trying to learn more about leasing. Guess I probably should have come here first before signing. As it turned out, they had a lease special on their website that offered payments of 519.00 per mo with 4,000 down. 10,000 mi. for 36 mo. The deal they gave me was 643.00 per mo with 3,000 down. 10,000 mi. for 36 mo. When I called them to ask why I wasn't offered the web deal since I was clearly qualified, I was told that the guy who made the deal didn't know about it and it is really too late now since everything was sent to the bank. Doesn't pass the smell test to me. ANYWAY, I absolutely love the car but have this terrible taste in my mouth that I have been completely taken advantage of. They're pressuring me to write a review of my experience and thought I should get some experienced advice before I go off like I want to. Like I said. I've never even considered leasing until the night before I picked it up. Fact is maybe I got a sweet deal, or maybe I've never been screwed so hard. My downfall was clearly my ignorance and I trust what no one says from that dealership. So I came here.
03-15-15, 05:18 PM
#9
Lexus Test Driver
I actually got it in Spokane Wa. The residual value went up 2,000 after I drove the 180 miles to get it. After that, I found elt like I couldn't trust them on anything. I took the deal but after really looking at it, I started to question what just happened. I decided to come here after becoming overwhelmed trying to learn more about leasing. Guess I probably should have come here first before signing. As it turned out, they had a lease special on their website that offered payments of 519.00 per mo with 4,000 down. 10,000 mi. for 36 mo. The deal they gave me was 643.00 per mo with 3,000 down. 10,000 mi. for 36 mo. When I called them to ask why I wasn't offered the web deal since I was clearly qualified, I was told that the guy who made the deal didn't know about it and it is really too late now since everything was sent to the bank. Doesn't pass the smell test to me. ANYWAY, I absolutely love the car but have this terrible taste in my mouth that I have been completely taken advantage of. They're pressuring me to write a review of my experience and thought I should get some experienced advice before I go off like I want to. Like I said. I've never even considered leasing until the night before I picked it up. Fact is maybe I got a sweet deal, or maybe I've never been screwed so hard. My downfall was clearly my ignorance and I trust what no one says from that dealership. So I came here.
1. The deal that was advertised $4000 down + Tax right. So on the $55,000 car tax is say 8% about $4000. I dont know about your state, do you have ti pay full tax or only on the amount you finance?
2. The deal you got is $650 tax included right? So you already saved a bunch of $$
3. The deal you posted is good, i ran the numbers and it makes sense if in yoir state you pay full Tax. I ran with 6.5% using our sales tax.
4. Whe u got there you culd have renegotiate if you like the other deal better.
Here is the link i would advise you to read before the purchase https://www.clublexus.com/forums/car-chat/747867-all-about-leasing-and-buying.html
03-15-15, 06:02 PM
#11
Lexus Test Driver
No tax at all? So the residual is $36.000? If residual goes up that means you save!
You got screwed! It looks like they sold you the car at full price. Using your numbers with selling price $54,500 and $3k down your paymnets would be $540
If you only would have told us that there is no Tax i would tell you the payments! I assumed tax
You got screwed! It looks like they sold you the car at full price. Using your numbers with selling price $54,500 and $3k down your paymnets would be $540
If you only would have told us that there is no Tax i would tell you the payments! I assumed tax
Last edited by FastTags; 03-15-15 at 07:59 PM.
03-15-15, 08:35 PM
#12
Driver School Candidate
Thread Starter
Join Date: Mar 2015
Location: mt
Posts: 10
Likes: 0
Received 0 Likes
on
0 Posts
That's what I thought. When I add my down payment + my total payments + the residual value, I come up with $60776.02, which = a not too good of a deal..definitely probably won't be worth buying at the end. Would have been much smarter probably to just dicker the price down and buy it outright.
03-15-15, 08:41 PM
#14
Lexus Test Driver
Exactly. If you did pay $54,500 as you said payments should be $540. Get a payment calculator app for iphone, numbers to the penny!!
When residual goes up, Paymnets go down. Anyway, you can tey to return the car. I have done it in the past, its not easy to do but it can be done.
When residual goes up, Paymnets go down. Anyway, you can tey to return the car. I have done it in the past, its not easy to do but it can be done.
03-15-15, 08:46 PM
#15
Lexus Test Driver
You can go back and say, look you told me the price is $54.5 and thats not what happend! You lied to me, so either give me at $54.5 or I am returning the car, and if you are not gonna take it, i will be coming here and talking to every customer and tell them that you are screwing people off!! You have to be presistent and make a scene! The only way they will hear you