Price Paid for an IS250/350?
#782
Alright so leased for the first time and got the 2014 Lexus IS350 AWD f Sport on 3/31/14.
Wondering if I got a good deal?
Dealer: Herb Chambers Lexus of Sharon, Massachusetts
Model: 2014 Lexus IS350 AWD FSport ultra white with black interior, Blind Spot with Rear Cross Traffic, Navigation package (includes the backup camera), assessor package (trunk mat, cargo net, wheel locks, rear bumper appliqué ).
Total MSRP: $48,953
Negotiated to $46,000.
27 month lease. 10K miles/year
First month payment rebate.
So I gave $2499 down payment which includes:
Cap cost reduction: 1249.56
Title+registration fees: 168.00(transferred my old registration /plates to the new car)
Tax on cap cost reduction: 54.85
Acquisition fee: $700
Tax on upfrnt: 49.00
Doc fee: 289.00
Residual value is $35,246.16
Rent charge: 1632.37
Monthly payment $450 (all taxes included) for 26 months (first month paid by Lexus rebate)
Also ended up getting the Lexus excess wear and tear up to $7500 total + Simonized interior and exterior glass coating for the lease for $15.59 more each month.(405.34 total for the wedges wear tear stuff after 26 months).
So total monthly payment each month 465.59. (All taxes included).
I don't know the money factor (and I never asked)? But I have perfect credit, my score when they pulled was 850 out of 900.
This is the first time I leased so I don't know if I got ripped off or not?
Wondering if I got a good deal?
Dealer: Herb Chambers Lexus of Sharon, Massachusetts
Model: 2014 Lexus IS350 AWD FSport ultra white with black interior, Blind Spot with Rear Cross Traffic, Navigation package (includes the backup camera), assessor package (trunk mat, cargo net, wheel locks, rear bumper appliqué ).
Total MSRP: $48,953
Negotiated to $46,000.
27 month lease. 10K miles/year
First month payment rebate.
So I gave $2499 down payment which includes:
Cap cost reduction: 1249.56
Title+registration fees: 168.00(transferred my old registration /plates to the new car)
Tax on cap cost reduction: 54.85
Acquisition fee: $700
Tax on upfrnt: 49.00
Doc fee: 289.00
Residual value is $35,246.16
Rent charge: 1632.37
Monthly payment $450 (all taxes included) for 26 months (first month paid by Lexus rebate)
Also ended up getting the Lexus excess wear and tear up to $7500 total + Simonized interior and exterior glass coating for the lease for $15.59 more each month.(405.34 total for the wedges wear tear stuff after 26 months).
So total monthly payment each month 465.59. (All taxes included).
I don't know the money factor (and I never asked)? But I have perfect credit, my score when they pulled was 850 out of 900.
This is the first time I leased so I don't know if I got ripped off or not?
#784
WiLz, SUPER HELPFUL! Thank you so much! :thumb up:
Looks like a lot of dealers in SoCal have at least one white/red 350 now. So I definitely won't pay more than you did. For some reason, it does seem like dealers in OC are less willing to give great prices, maybe due to higher operating costs? Most great deals in the $42-43k range all came from LA or Riverside.
Looks like a lot of dealers in SoCal have at least one white/red 350 now. So I definitely won't pay more than you did. For some reason, it does seem like dealers in OC are less willing to give great prices, maybe due to higher operating costs? Most great deals in the $42-43k range all came from LA or Riverside.
#785
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Since I have received several inquiries about SoCal area dealers, I'll post my response here for reference. These numbers are from 2 months ago, so things may have changed, but it may give you an idea of how willing certain dealers are to negotiate. All the numbers below are before tax & licensing, and they are all IS350 F-sport that include Nav, BSM, and some combination of Trunk Mat, Cargo Net, Wheel Lock, and/or Bumper Applique. Also, none of these were "final" negotiations (more just like "feelers" while I was looking for the exact car I wanted), so there is probably a bit more room to work in most of these prices once you are willing to commit:
No, I'm not sure there are no consequences for paying off the loan early, as I have not done this myself. But there have been others who posted on the forum saying they paid off the loan in 1 or 2 payments, and supposedly had no problems with the rebates. What is certain is that there is no "pre-payment penalty" on the LFS side, meaning they do not charge you a fee to pay off the loan early. But whether or not paying it off prematurely will affect the rebates is not certain, as it is not specifically written in the rebate terms.
However, several dealers have given me different information: one said I must finance at least $5,000 and then can pay it off immediately; another said I must finance $10,000 and must make at least 1 payment before paying it off; yet another wanted me to finance $20,000 and keep the loan for 3 payments. So this contradicting information leads me to believe that the dealers are only saying this for their own benefit, since if this were actually a rule imposed by LFS, the terms should all be the same. Therefore, without any confirmed information, the decision of how early you can pay off the loan will have to be made at your own risk.
There is actually nothing wrong with negotiating pre-tax & fee prices as long as you are a well informed consumer, have an idea of the approximate OTD price, and review the contract before signing. Most taxes and fees are fairly standard, so you should have an idea what the OTD should be, and it is not hard to spot fees that shouldn't be there. Therefore, IMO you should just negotiate whichever way you feel more comfortable. But I do agree that it is a good idea to ask for an exact OTD price before committing to any deals.
First stop I made was Tustin Lexus, at that time they did not have any White ones. So I left without negotiating a deal, and I don't know what kind of discount they'll offer.
Next stop was Newport Lexus. They also had no White ones on the lot. They found a White/Black with no ML at their sister dealership in Palm Springs, and they said they would drive it down for me if I wanted it. I was able to negotiate that car down to almost $4,000 below MSRP (offer $43,000 for a car with MSRP $46,922). But I ended up not pursing the deal because the car already had 100+ miles on it from being transported to Palm Springs, and would now add another 100+ miles to have it driven back. Newport Lexus did straight up offer me $2,000 off invoice (before any negotiations) on a Silver/Red on their lot though, but I was only looking for White. So you may be able to get a nice deal on a car on their lot if you are flexible on color.
I also visited Longo Lexus, but they also had no White cars in stock. I did try asking if they would go $2,000 below invoice if they had the car. The salesperson said he can try. From what I could gather, they seemed like they would at least be willing to work in the $1,000 to $1,500 below invoice price range. He said the deal through Costco Auto (without having to negotiate) was $400 off invoice, so I figured you can at least do better than that.
I never visited Ontario Lexus, but I did e-mail their internet sales. They offered me $43,222 on a Silver car with MSRP $47,008 (no ML). I told them I'm only looking for White. The guy told me if I liked his numbers, he could bring one in from a sister store. I replied saying I'm looking for $2,000 off invoice. He never got back to me, probably because my offer was too low for him. So if you are okay with the $43,222 price, you could see if they'll find you one, and then try to knock a couple hundred more off.
I visited Westminster Lexus, and also contacted their internet sales. They had no White cars in stock. They were trying to tell me that the demand was very high for White, and most are selling near MSRP. I asked if he could go anywhere near $2,000 off invoice. He said no, and that if I could find a place that would do it, I should buy it there. You may get them to give you a decent discount on non-White though.
Then, I visited Lexus Mission Viejo. My advice: Don't go there. They did have a White/Red & a White/Black on the lot. But then I figured out why they still had them: the salesperson came back and said "I don't want to go back and forth with you cuz it's late, so I'll give you a good offer: $1,500 over invoice" I told him no thanks, how about $2,000 below invoice. He asked me if I would take it at invoice. I asked him if he could at least go below invoice. He said no and sent me on my way. So only go here if you like to be ripped off.
Lastly, I called Lexus Carlsbad, and they told me they have a White/Red w/ ML, & a White/Black no ML on the lot. They were willing to go down to $750 off invoice for the White/Red, and said they can at most go down to $1,000 off invoice if I commit. The White/Black (no ML) they were willing to sell for $1,250 off invoice, likely a bit more room to negotiate there too.
I ended up buying from Lexus Riverside. I first contacted them through their internet sales department. They offered me $44,815 on a White/Red w/ ML (MSRP $48,062). After a couple e-mails back and forth, they agreed to a price of $43,750 (about $4,300 off MSRP). They also had no problem letting me stack the $1,000 Lexus Lane Change Discount Certificate, the $1,000 College Grad Rebate, and the $750 APR cash, for a total of $2,750 additional discount off the negotiated price. My final out-the-door price (including tax & license) for White/Red with ML was right at $45,000.
Sorry for the long post, hopefully it's somewhat helpful to those still shopping.Next stop was Newport Lexus. They also had no White ones on the lot. They found a White/Black with no ML at their sister dealership in Palm Springs, and they said they would drive it down for me if I wanted it. I was able to negotiate that car down to almost $4,000 below MSRP (offer $43,000 for a car with MSRP $46,922). But I ended up not pursing the deal because the car already had 100+ miles on it from being transported to Palm Springs, and would now add another 100+ miles to have it driven back. Newport Lexus did straight up offer me $2,000 off invoice (before any negotiations) on a Silver/Red on their lot though, but I was only looking for White. So you may be able to get a nice deal on a car on their lot if you are flexible on color.
I also visited Longo Lexus, but they also had no White cars in stock. I did try asking if they would go $2,000 below invoice if they had the car. The salesperson said he can try. From what I could gather, they seemed like they would at least be willing to work in the $1,000 to $1,500 below invoice price range. He said the deal through Costco Auto (without having to negotiate) was $400 off invoice, so I figured you can at least do better than that.
I never visited Ontario Lexus, but I did e-mail their internet sales. They offered me $43,222 on a Silver car with MSRP $47,008 (no ML). I told them I'm only looking for White. The guy told me if I liked his numbers, he could bring one in from a sister store. I replied saying I'm looking for $2,000 off invoice. He never got back to me, probably because my offer was too low for him. So if you are okay with the $43,222 price, you could see if they'll find you one, and then try to knock a couple hundred more off.
I visited Westminster Lexus, and also contacted their internet sales. They had no White cars in stock. They were trying to tell me that the demand was very high for White, and most are selling near MSRP. I asked if he could go anywhere near $2,000 off invoice. He said no, and that if I could find a place that would do it, I should buy it there. You may get them to give you a decent discount on non-White though.
Then, I visited Lexus Mission Viejo. My advice: Don't go there. They did have a White/Red & a White/Black on the lot. But then I figured out why they still had them: the salesperson came back and said "I don't want to go back and forth with you cuz it's late, so I'll give you a good offer: $1,500 over invoice" I told him no thanks, how about $2,000 below invoice. He asked me if I would take it at invoice. I asked him if he could at least go below invoice. He said no and sent me on my way. So only go here if you like to be ripped off.
Lastly, I called Lexus Carlsbad, and they told me they have a White/Red w/ ML, & a White/Black no ML on the lot. They were willing to go down to $750 off invoice for the White/Red, and said they can at most go down to $1,000 off invoice if I commit. The White/Black (no ML) they were willing to sell for $1,250 off invoice, likely a bit more room to negotiate there too.
I ended up buying from Lexus Riverside. I first contacted them through their internet sales department. They offered me $44,815 on a White/Red w/ ML (MSRP $48,062). After a couple e-mails back and forth, they agreed to a price of $43,750 (about $4,300 off MSRP). They also had no problem letting me stack the $1,000 Lexus Lane Change Discount Certificate, the $1,000 College Grad Rebate, and the $750 APR cash, for a total of $2,750 additional discount off the negotiated price. My final out-the-door price (including tax & license) for White/Red with ML was right at $45,000.
No, I'm not sure there are no consequences for paying off the loan early, as I have not done this myself. But there have been others who posted on the forum saying they paid off the loan in 1 or 2 payments, and supposedly had no problems with the rebates. What is certain is that there is no "pre-payment penalty" on the LFS side, meaning they do not charge you a fee to pay off the loan early. But whether or not paying it off prematurely will affect the rebates is not certain, as it is not specifically written in the rebate terms.
However, several dealers have given me different information: one said I must finance at least $5,000 and then can pay it off immediately; another said I must finance $10,000 and must make at least 1 payment before paying it off; yet another wanted me to finance $20,000 and keep the loan for 3 payments. So this contradicting information leads me to believe that the dealers are only saying this for their own benefit, since if this were actually a rule imposed by LFS, the terms should all be the same. Therefore, without any confirmed information, the decision of how early you can pay off the loan will have to be made at your own risk.
There is actually nothing wrong with negotiating pre-tax & fee prices as long as you are a well informed consumer, have an idea of the approximate OTD price, and review the contract before signing. Most taxes and fees are fairly standard, so you should have an idea what the OTD should be, and it is not hard to spot fees that shouldn't be there. Therefore, IMO you should just negotiate whichever way you feel more comfortable. But I do agree that it is a good idea to ask for an exact OTD price before committing to any deals.
#786
#787
Trying to negotiate prices via email. Dealers (in SoCal) keep sending useless generic email. When you ask them a genuine question i.e. what's your price, they won't reply. WTF? Anyone else experiencing this problem?
#788
Which dealerships are you talking to?
The reason why a lot of them don't like to give you a price over email is because you can easily take that price and go to another dealership. What's funny is that they have entire internet sales department set up to deal with customers via e-mail but then they still prefer you come into the dealership to negotiate in person.
Check out Keyes, Cerritos, and Longo. They seemed willing to talk price via e-mail.
#789
^ Pretty much the same dealers that WiLz mentioned in his post above. Emailed all 3 dealers you mentioned. Keyes offered $5k off MSRP (decent), Cerritos offerED $42k when they didn't have the car but just turned around and jacked up the price to $46k when they got it (hugely disappointed with this kind of bait and switch tactic), Longo's price wasn't very attractive (something around invoice).
#790
Glendale had an auto-response saying someone will contact me shortly regarding my request, but no one ever did. Then they just started sending me advertisements & junk mail.
From Ontario, I contacted (Eugene.Kang@crown-lexus.net). He was the one that gave me the quote for $43,222, then never responded when I asked for something closer to $2K below invoice.
From Riverside, either Danny (danny@lexusriverside.com) or Joseph (jluna@lexusriverside.com) were both fairly helpful and gave me real numbers to deal with (started negotiations below invoice).
For Carlsbad, I didn't contact their internet sales, I just called their sales department and spoke to Nick. He was helpful, and fairly willing to discuss numbers over the phone (also below invoice). He did have to check with the manager several times and had to call me back, but he was responsive and gave me decent pricing.
Longo and Westminster never gave me any pricing numbers over e-mail because they didn't have the car I wanted. Newport and Mission Viejo I dealt with in person.
#791
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Thought I would chime in the lowest quotes I got while I was shopping. Mind you the prices might change and they could be lying or something but I think shooting for prices around this goal is ideal. All prices listed are before tax. Both Longo and BH were imo the better dealers to work with. Keyes runner up. Glendale, Crown Ontario, Cerritos couldn't be nearly as competitive.
IS 250 f-sport w/ nav white/red
$38,500 @ Longo
IS250 non-fsport
~$32k @ Jim Falk Beverly Hills
IS 250 f-sport w/ nav white/red
$38,500 @ Longo
IS250 non-fsport
~$32k @ Jim Falk Beverly Hills
Last edited by Kitten; 04-16-14 at 04:40 PM.
#792
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Thousand oaks was very straight forward and honest. I just asked them to give me their bottomline offer as I don't want to go back and forth. They did exactly that. ~12% off msrp on a base is250.
Most orange county dealers wouldn't budge much. The next closest deal was from santa monica.
Most orange county dealers wouldn't budge much. The next closest deal was from santa monica.
#793
Driver School Candidate
I emailed lexus of riverside and they replied that the most they can do is $900 below invoice. Called Keyes and the lady, Tina told me they sell them at invoice.
#794
Experience varies from person to person even at the same dealer, which is frustrating. Hate double standards.
Btw, what would be a fair price for dealer-installed clear bra? For those of you in SoCal, did your dealer make you pay $800 for LoJack?
Btw, what would be a fair price for dealer-installed clear bra? For those of you in SoCal, did your dealer make you pay $800 for LoJack?
#795
Driver School Candidate
Well lets say youre driveing one fine automobile,of course the dealer made a lot of profit, I can see at a glance the added to fees ,like documentary fee and acquisition fee, profit,it makes the world go around.You obviously have this as a write off, so what do you care of if its 40 or 50 dollars more per month, And in two years you can get a new one, Lexus has a strong lease program for those that have a rateing over 830, congrats to both you and the dealer. Very nice ride.