lxlxlxs

Thinking of switching from ownership to lease for the first time, interested to hear your thoughts on this offer:

2024 TX 350 Premium (A8)
Pearl
Tint ($699)
miles: 10k

Base price: $62,850
0 down, 36 months: $1,258

Hard to get historical data on this one obviously - thanks for the help!

mhoran89

this seems insane. you can lease a porsche taycan 4s with a $147K sticker with 5K down for only $100 more a month.

I don't think I would touch a lease on a $62K lexus unless it was around $1000 or less. residual on a car like that should be around 80% after 3 years. not sure what the new car lending rate is but lexus is running sub 3% loans on some models.

with a $900 a month lease payment on a car like that with no money down you are essentially paying around: $218 to lease, $52 in taxes (in mass at 6.25%), and $625 a month in depreciation.

for the same $60K car with the same tax at a 6% loan (not sure if one could swing that right now), $5k down, $500 in fees, you are looking at a monthly payment of $1390. 48mo term. at the end of the 3 years you've paid for 3/4 of the car though. at the end of your 36mo lease you are looking to do it all over again.

I guess a lot of it depends on how many miles you drive and also how long you'd like to keep the car. would love to hear other's thoughts on this though as I have never leased a car but I also drive 12K a winter just going skiing so it is not really an option for me...

Rob43

I ran the numbers on this onetime many years back, but at the end of the day I simply like keeping a car a lot longer than the typical 36 month lease knowing I'm the owner.


Rob43

coolbrazz

The problem is that Lexus can't keep them on the lot at least in NC, and they normally don't give rebates this early in the year.
Unless you really want it imo the monthly is too much. In most lease deals you would need to put down a few grand for better payments or go for something under $60k

snohman82

We leased a similarly priced MSRP TX 350 Premium but had a massive down payment due to a trade-in we did on our 2016 RX. We negotiated a value of $21,000 for the trade-in - typically I like to put down as little as possible but given the high money factor right now we just factored it all in. We also got the MSRP knocked down $3k inclusive of a $1k loyalty bonus. This was around mid-December. 10k miles/36 month lease - our payments before taxes is roughly $425. Without the trade-in, our monthly was just around the mid $900 mark.

Hope that helps - for context, another local Southern California dealer tried to charge us $800/month for the same optioned car AFTER our trade-in.

mhoran89

this definitely helps. I thought the OPs numbers were a bit off, your numbers sound much more palatable. what was the sticker price on your TX? and dealer add-ons?

snohman82

$63,535 was the sticker - Premium with Mark Levinson Surround Sound System ($1160), Tech Package ($1050), Heated/Ventilated Captain Chairs 2nd Row ($1160), Convenience Package ($895), Cold Area Package ($250), USB Cables ($85 - these are so unnecessary), Illuminated Door Sills ($460), and Key Gloves ($25).

We didn't pre-order this - grabbed one that was on the lot. There were no hybrids available - just a lot of base, premium and luxury optioned TXs.

mhoran89

so that helps the OP decide now. your lease numbers seem much more reasonable on a similarly priced car...

coolbrazz

I did something similar, and traded a 2020 RX and put that toward my TX350 but my payments are a higher little though.