Planning to lease a 2015 IS 250 F Sport. How do I find lower pricing than the MSRP price?

surferdudehb

I went to a local Lexus dealer in Houston, TX. The dealership gave me some preliminary numbers, MSRP price at $43888 for a 2015, IS250 FSport with Nav.

I checked on KBB.com but it doesn't really gives me an exact pricing for the FSport. What other online resources can I use to find a lower pricing on the car? I will use this number to base my bargaining with the dealers.

stever

You can use the Make|Model|Year tabs up top to build your F Sport with your options and your TX zip code. You'll wind up on a page showing invoice, MSRP and TMV. TMV is the "average" price paid in your area.

TMV should be your target price to meet or beat. Looks like TMV is running pretty close to invoice, at least in some areas of the US.

You may have better luck sending out for some dealer quotes and letting the dealers throw the initial numbers out instead of trying to come up with your own number initially.

surferdudehb

Thank you Stever.

Is there anyway I can get the invoice price online or would that be from a Internet sales manager?

Michaell

surferdudehb said:

Thank you Stever.

Is there anyway I can get the invoice price online or would that be from a Internet sales manager?

When you use the tools as noted above the invoice price will also show.

stever

Invoice is a useful number to know, but don't get too hung up on it. (USA Today)

Some stores have dedicated internet sales people, some "rotate" the position, and in some stores, everyone is an internet sales person.

The nice thing about getting quotes is that it helps weed out the unresponsive dealers that want to play games.

surferdudehb

Does it make sense to lease a used car? Like a 2014?

When starting negotiating do you provide the dealer with your credit score so that they can give you a MF number?

Michaell

surferdudehb said:

Does it make sense to lease a used car? Like a 2014?

When starting negotiating do you provide the dealer with your credit score so that they can give you a MF number?

Leasing used cars is usually more expensive than leasing new cars.

Plenty of places to pull your own credit score ... you are entitled to one full report a year, by law. Then you can check here to get the MF based on your score. That way, you'll have all the information you need before seeing the dealer.

Knowledge is power ....

surferdudehb

I pulled my FICO score from Experian and Transunion. Do the dealers use the same resources?

After knowing my FICO score, it is ok to share it with the salesperson and obtain a MF number from them? I need to know what is the credit tier range to get the MF numbers.

Michaell

surferdudehb said:

I pulled my FICO score from Experian and Transunion. Do the dealers use the same resources?

After knowing my FICO score, it is ok to share it with the salesperson and obtain a MF number from them? I need to know what is the credit tier range to get the MF numbers.

Yes, dealers will use the same sources - though there is a variation of the FICO score specific for auto lenders. Will probably be a higher number than what you're seeing.

If the number is less than 720, then you will not qualify for Lexus Financial Services 1+ tier money factor. I can tell you what the rate will be if you share your score here. Better to know up front than to rely on the dealers information - remember, they can (and often will) mark up the MF for more profit.

surferdudehb

670 at this time from Experian. Just paid off all of my cc last week. Will this increase the credit score anytime soon?

Michaell

surferdudehb said:

670 at this time from Experian. Just paid off all of my cc last week. Will this increase the credit score anytime soon?

May take 30-60 days, but yes it will go up.

Michaell

Michaell said:

surferdudehb said:

670 at this time from Experian. Just paid off all of my cc last week. Will this increase the credit score anytime soon?

May take 30-60 days, but yes it will go up.

670 score translates to a .00135 MF for Lexus.

surferdudehb

Thank you Michaell.

surferdudehb

Michaell said:

Michaell said:

surferdudehb said:

670 at this time from Experian. Just paid off all of my cc last week. Will this increase the credit score anytime soon?

May take 30-60 days, but yes it will go up.

670 score translates to a .00135 MF for Lexus.

Michaell,

I checked the notes I took from the dealer and he gave me MF at .00190 for tier 1, Residual at $ 27,839.36, MSRP $43,499.00 (includes tax, reg and license fees). Due at signing $ 670.97, term 36 at 12k per year.
This is for a fully loaded IS250 Fsport with Nav. no backup camera.
The MF they offered seems high for tier 1, even though I'm at tier 2.

Michaell

surferdudehb said:

Michaell said:

Michaell said:

surferdudehb said:

670 at this time from Experian. Just paid off all of my cc last week. Will this increase the credit score anytime soon?

May take 30-60 days, but yes it will go up.

670 score translates to a .00135 MF for Lexus.

Michaell,

I checked the notes I took from the dealer and he gave me MF at .00190 for tier 1, Residual at $ 27,839.36, MSRP $43,499.00 (includes tax, reg and license fees). Due at signing $ 670.97, term 36 at 12k per year.
This is for a fully loaded IS250 Fsport with Nav. no backup camera.
The MF they offered seems high for tier 1, even though I'm at tier 2.

Tier 1 MF is .00100 for the IS250; it may be time to start working with another dealer, since this one isn't giving you the straight scoop on the MF.

surferdudehb

And it begins...

Thx again Michaell