Lease MF with Tier2 or Tier3
Lexus Test Driver
Joined: Jul 2009
Posts: 1,193
Likes: 24
From: CA
That's true - 51 cents per mile as compared to 54 cents per mile on a 10k mile lease with a 450 monthly payment. It's a good idea to gauge a lease based on cost per mile. If he drives all the miles, he'll be ok. But obviously a lower money factor and a better discount would have yielded a much better deal.
Lexus Test Driver
Joined: Jul 2009
Posts: 1,193
Likes: 24
From: CA
Yea I wouldn't say it was an amazingly great deal where it's a no brainer to sign the dotted line. "good" was intended as most of the ***** to negotiate were reasonable based on current market rates and credit. I don't doubt that there could have been more negotiating though.
I suppose the out the door price could've been closer to 44-45k?
I haven't checked the pricing threads but I've been content to get the "good" price minus $500 or so on the True Car estimate which 46k is right in line with. For a high 600s score, 3-4% is about where interest rates should be today. Obviously a 740+ should get an interest rate around 1%.
I suppose the out the door price could've been closer to 44-45k?
I haven't checked the pricing threads but I've been content to get the "good" price minus $500 or so on the True Car estimate which 46k is right in line with. For a high 600s score, 3-4% is about where interest rates should be today. Obviously a 740+ should get an interest rate around 1%.
Again, on a per mile basis, your lease is not bad at all compared to a smaller mileage lease where money was paid up front to get the payment lower.
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Lexus Test Driver
Joined: May 2014
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From: tx
Thread Starter
Lexus Test Driver
Joined: May 2014
Posts: 1,059
Likes: 3
From: tx
That's true - 51 cents per mile as compared to 54 cents per mile on a 10k mile lease with a 450 monthly payment. It's a good idea to gauge a lease based on cost per mile. If he drives all the miles, he'll be ok. But obviously a lower money factor and a better discount would have yielded a much better deal.
Folks can get a 36/m lease with 10k miles zero down $420/m he is paying $660, are you saying there is $200 difference bn 10k and 15k cmon
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Lexus Test Driver
Joined: Jul 2009
Posts: 1,193
Likes: 24
From: CA
I'm curious - what's the purpose of this thread?
Also, his original post seems to infer he didn't qualify for tier 1+.
Last edited by gmanusmc; Jul 13, 2015 at 08:10 PM.
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Lexus Test Driver
Joined: Jul 2009
Posts: 1,193
Likes: 24
From: CA
Michael and kyfdx in the leasing section over at edmunds are great sources for accurate and current money factors and residuals - they apparently have access to info that we regular folks have to pry out of the dealer (and for some reason don't think we have a right to know).
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