'15 Lease question
'15 Lease question
Thinking about leasing and I've done my research on residuals, MF, MSDs and such.
However, I've been plugging in the numbers that the dealer gave me over email but its not working out when I calculate it.
MSRP (have not negotiated yet) 38,159 2015 IS 250
Dealer says
$299 for 27 months
$998 due at signing + 1st months payment and tag
The numbers don't make sense to me and seems too good.
What could they possible be setting their vales at?
Small print reads No security deposit. Price plus 1st month's payment, tax 6% and fees.
However, I've been plugging in the numbers that the dealer gave me over email but its not working out when I calculate it.
MSRP (have not negotiated yet) 38,159 2015 IS 250
Dealer says
$299 for 27 months
$998 due at signing + 1st months payment and tag
The numbers don't make sense to me and seems too good.
What could they possible be setting their vales at?
Small print reads No security deposit. Price plus 1st month's payment, tax 6% and fees.
Intermediate
Joined: Dec 2013
Posts: 399
Likes: 9
From: CT
I agree with you, lease price does not make sense, the depreciation part of the lease alone is around $410 a month using a 71 % residual, even if you get $2,000 of list that still comes out to around $360.00 and that's not including the finance charge. If you can get it for $299 go for it.
Thinking about leasing and I've done my research on residuals, MF, MSDs and such.
However, I've been plugging in the numbers that the dealer gave me over email but its not working out when I calculate it.
MSRP (have not negotiated yet) 38,159 2015 IS 250
Dealer says
$299 for 27 months
$998 due at signing + 1st months payment and tag
The numbers don't make sense to me and seems too good.
What could they possible be setting their vales at?
Small print reads No security deposit. Price plus 1st month's payment, tax 6% and fees.
However, I've been plugging in the numbers that the dealer gave me over email but its not working out when I calculate it.
MSRP (have not negotiated yet) 38,159 2015 IS 250
Dealer says
$299 for 27 months
$998 due at signing + 1st months payment and tag
The numbers don't make sense to me and seems too good.
What could they possible be setting their vales at?
Small print reads No security deposit. Price plus 1st month's payment, tax 6% and fees.
Lexus Test Driver
Joined: Jul 2009
Posts: 1,193
Likes: 24
From: CA
I agree with you, lease price does not make sense, the depreciation part of the lease alone is around $410 a month using a 71 % residual, even if you get $2,000 of list that still comes out to around $360.00 and that's not including the finance charge. If you can get it for $299 go for it.
So I showed up and the finance guy gives me the run around saying I actually need to put $2400 down to get a payment of just 345! Yeah right.
I say no thanks, I came here under the impression of 1500 today and $300 a month.
As I'm walking out he tells me $315 with $1500 down if I take the car now, I told him I'd have to think about it.
It's incredible how much they try to screw you.
I say no thanks, I came here under the impression of 1500 today and $300 a month.
As I'm walking out he tells me $315 with $1500 down if I take the car now, I told him I'd have to think about it.
It's incredible how much they try to screw you.
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Intermediate
Joined: Dec 2013
Posts: 399
Likes: 9
From: CT
That figures, did you try getting the price of the car lower?
So I showed up and the finance guy gives me the run around saying I actually need to put $2400 down to get a payment of just 345! Yeah right.
I say no thanks, I came here under the impression of 1500 today and $300 a month.
As I'm walking out he tells me $315 with $1500 down if I take the car now, I told him I'd have to think about it.
It's incredible how much they try to screw you.
I say no thanks, I came here under the impression of 1500 today and $300 a month.
As I'm walking out he tells me $315 with $1500 down if I take the car now, I told him I'd have to think about it.
It's incredible how much they try to screw you.
So I went to another dealer in S. Florida, explained to them what happened and told them I wanted $300 a month and $1500 including 1st months, tags and fees.
What do you know, DONE DEAL, much nicer dealership! They lowered the price to 34K, I don't think its too bad for my first lease.
New 3IS owner! Thanks guys.
What do you know, DONE DEAL, much nicer dealership! They lowered the price to 34K, I don't think its too bad for my first lease.
New 3IS owner! Thanks guys.
Lexus Test Driver
Joined: Jul 2009
Posts: 1,193
Likes: 24
From: CA
So I went to another dealer in S. Florida, explained to them what happened and told them I wanted $300 a month and $1500 including 1st months, tags and fees.
What do you know, DONE DEAL, much nicer dealership! They lowered the price to 34K, I don't think its too bad for my first lease.
New 3IS owner! Thanks guys.
What do you know, DONE DEAL, much nicer dealership! They lowered the price to 34K, I don't think its too bad for my first lease.
New 3IS owner! Thanks guys.
Intermediate
Joined: Dec 2013
Posts: 399
Likes: 9
From: CT
Good for you, now enjoy one sweet ride
So I went to another dealer in S. Florida, explained to them what happened and told them I wanted $300 a month and $1500 including 1st months, tags and fees.
What do you know, DONE DEAL, much nicer dealership! They lowered the price to 34K, I don't think its too bad for my first lease.
New 3IS owner! Thanks guys.
What do you know, DONE DEAL, much nicer dealership! They lowered the price to 34K, I don't think its too bad for my first lease.
New 3IS owner! Thanks guys.
Driver School Candidate
Joined: May 2014
Posts: 27
Likes: 1
From: Texas
So I went to another dealer in S. Florida, explained to them what happened and told them I wanted $300 a month and $1500 including 1st months, tags and fees.
What do you know, DONE DEAL, much nicer dealership! They lowered the price to 34K, I don't think its too bad for my first lease.
New 3IS owner! Thanks guys.
What do you know, DONE DEAL, much nicer dealership! They lowered the price to 34K, I don't think its too bad for my first lease.
New 3IS owner! Thanks guys.
Too add more to the story, the original dealer called me back and said what can we do and we'll make it happen. Now $285 / month and $1500 
overall good leasing experience 
Moral of the story, fight till the end!
WRECK EM!
overall good leasing experience Moral of the story, fight till the end!
WRECK EM!
Lexus Test Driver
Joined: Oct 2014
Posts: 1,266
Likes: 48
From: NY / LI
Congrats on your new IS..
It always amazes me how some of these dealers treat people.. Sad part is I'm sure some people fall for it and end up walking out at $345/month or more...
Enjoy your new car..
It always amazes me how some of these dealers treat people.. Sad part is I'm sure some people fall for it and end up walking out at $345/month or more...
Enjoy your new car..