Strichnyne

I'm trying to get down to the $450 range but they won't budge and they're saying the discount is the best they can do.

drbazing

I did my calculations for yours and I'm pretty new to this but you should be paying $492 -$502 depending on the sales tax at your area.

MSRP: $48798
Neg. Price: $45298
Residual $31231 (64%)
MF: 0.00085

Lease Value: $45298 - $31231 = $14067, Divided by 36 months = $391
MF (like Interest): ($45298 + $31231) * 0.00085 = $65 (added to monthly)
Monthly: $456 multiplied by tax (8%-10%) = $492 -$502

To my note, you should try to negotiate the residual value at 71%. That's what I think I got.

Strichnyne

I'd like to be a little lower. Somewhere in the range that you are paying. But, they won't budge.

drbazing

I'm paying $492 taxes included, but that's with an MF of 0.001 due to a lower tier credit. Like I said, if you could get the residual value down to 71% then you should be able to see your monthly payments go down.

If they won't budge, then you just walk away. Find another dealer that will give you that deal. I went on a span of 150 miles over a weekend looking for a deal and they were all (about 15 Lexus dealers) pretty much competing for my business. I even got a deal for $399 nebula grey but that's not what I wanted. I paid $50 more monthly to get the ultra white/red rioja combo.

tea

That also depends on the area. He may not have as many dealers around.

gmanusmc

Most likely, the 71% residual is for a 24 or 27 month lease.

Strichnyne

I walked away. The manager was reluctant to print out a quote for me. He knew what I was going to do with it. They wouldn't move on the residual either. He brought out his big lexus book with all these charts saying "this is set in stone". I can still probably go back later today and get it but it's a bummer. Another local dealership, the one a I intended to go to next, called me to tell me they only have regular is350's left. Oh well. I would try others but I don't want my credit pulled that many times.

ashereman

Attachment 334402please can someone tell me if this is a good deal?? I'm trading in my lease early on the CT 200h I just can't stand driving that car. I know there is this negative equity bs but the dealer said they are eating most of it and I can't tell from the details if that is true. Please help. Or any advice on how to make the deal better??
This is for a 2014 IS350 RWD with luxury package

drbazing

That's understandable, but you can play around with other Brands like Infiniti Q50, BMW 335i, MB C350, etc. You don't have to get these cars but if you can get them to agree to get the number you like then just tell Lexus "Hey I got this offer from another brand car with the same price, would you be willing to do better or match it?".

Strichnyne

Drbazing, so I just got a call saying they can do it for $459/mo. Thoughts. ....

drbazing

Can you ask how did they get to that number? What changed this time? Anyways, it depends on the area, we socal people get low rates because of the high amount of dealer competition. If you don't mind paying $459+tax, then take it. My number was $450 and they offered me $455, took it in a heartbeat. They offered me $605+tax the first day I came on LMAO. Look at the difference I made by researching and being patient. I might not have gotten the best deal, but I sure damn got a good deal without a top notch credit history.

PS Are you getting the white/red combo?

gmanusmc

Highly recommend you do not do this deal - it will be a monumental financial mistake. You are flushing $11,000 down the tube.

How many months do you have left on your current lease? It would be best to stick it out. Doing this deal is like paying the new lease payment plus the old one, only you don't have both cars.

Yikes

Bill G

Strichnyne

Black and red combo

drbazing

Nice I have the same one, two weeks old. It's a good deal, but not the best deal. They probably raised up the residual value to give you that number. How much money are you putting down? I suggest you don't do any down payment towards the car.

Strichnyne

Well. They close in 20 minutes and I was putting down $3459.