I leased 2015 RX 350 AWD F Sport with all the bells and whistles, this is my first lease not sure what I was doing, please help if I did it right !!
MSRP 53799 RV 32781 (61%) MF .00073 Monthly PMT: $506.05 (balance of 35 PMT's) got another rebate of $2005.00 in lease contract (part of deal) 10K Miles each year (10x3=30K) $1300 Down
no, dealer didn't offer 33 months, 7500 miles, they offered 36 10K miles, and after some serious bargain they could offer $506.05 (including tax) and they didn't want go any lower !!
First time leaser buyer: How would you rate this deal in Seattle? Can I do better? If so, tips make it a great deal would be appreciated 350 F-Sport, 36/10 MSRP: 54058 Savings - 4058 Rebate - 2061 CapCost - 50K MF - 0.00075 Res: 33515.96 0 Down Monthly Payment - 561.67
First time leaser buyer: How would you rate this deal in Seattle? Can I do better? If so, tips make it a great deal would be appreciated 350 F-Sport, 36/10 MSRP: 54058 Savings - 4058 Rebate - 2061 CapCost - 50K MF - 0.00075 Res: 33515.96 0 Down Monthly Payment - 561.67
First time leaser buyer: How would you rate this deal in Seattle? Can I do better? If so, tips make it a great deal would be appreciated 350 F-Sport, 36/10 MSRP: 54058 Savings - 4058 Rebate - 2061 CapCost - 50K MF - 0.00075 Res: 33515.96 0 Down Monthly Payment - 561.67
Answered in the other thread you posted in.
Your response from the other thread: Using your numbers (61% residual and .00075 MF), and 9.8% tax rate, I get $587.58/mo. Your quote looks competitive by comparison.
First time leaser buyer: How would you rate this deal in Seattle? Can I do better? If so, tips make it a great deal would be appreciated 350 F-Sport, 36/10 MSRP: 54058 Savings - 4058 Rebate - 2061 CapCost - 50K MF - 0.00075 Res: 33515.96 0 Down Monthly Payment - 561.67
Answered in the other thread you posted in.
Your response from the other thread: Using your numbers (61% residual and .00075 MF), and 9.8% tax rate, I get $587.58/mo. Your quote looks competitive by comparison.
I brought them down to this deal: 350 F-Sport, 36/10 MSRP: 53799 CapCost - 48.5K MF - 0.00075 Res: 32781 0 Down Monthly Payment - 538
We had negotiated that there would be no doc fee. I signed on the offer, checked and got my intro to the car etc. Then when I went to finance, I saw that they had tacked on the doc fee which means the sales manager had made it part of the monthly payment (discreetly). I said I wasn't gonna pay it and they said no deal.
I walked out. I think I had a stellar deal in place.
You think I missed the boat on this one or do you think they will call back? The only sticking point here is the $150
I brought them down to this deal: 350 F-Sport, 36/10 MSRP: 53799 CapCost - 48.5K MF - 0.00075 Res: 32781 0 Down Monthly Payment - 538
We had negotiated that there would be no doc fee. I signed on the offer, checked and got my intro to the car etc. Then when I went to finance, I saw that they had tacked on the doc fee which means the sales manager had made it part of the monthly payment (discreetly). I said I wasn't gonna pay it and they said no deal.
I walked out. I think I had a stellar deal in place.
You think I missed the boat on this one or do you think they will call back? The only sticking point here is the $150
I get $496/mo.+tax.
Looks like a good deal. Not being there, I no idea what the dealer will do.
I brought them down to this deal: 350 F-Sport, 36/10 MSRP: 53799 CapCost - 48.5K MF - 0.00075 Res: 32781 0 Down Monthly Payment - 538
We had negotiated that there would be no doc fee. I signed on the offer, checked and got my intro to the car etc. Then when I went to finance, I saw that they had tacked on the doc fee which means the sales manager had made it part of the monthly payment (discreetly). I said I wasn't gonna pay it and they said no deal.
I walked out. I think I had a stellar deal in place.
You think I missed the boat on this one or do you think they will call back? The only sticking point here is the $150
I get $496/mo.+tax.
Looks like a good deal. Not being there, I no idea what the dealer will do.
MSRP: $47795 Sale price: $43025 Term: 33 months / 10,000 miles per year Residual value: 64% Money factor: 0.00070
8.875% NY tax and $700 bank fee are rolled into the payment and they waived $500 doc fee. First month payment is waived by LFS, $490 per month for 32 months. Total due at signing: $175 registration/DMV fees.
They are taking in 2013 RX 350 with 2 months remainging and about $1000 in body damages.
MSRP: $47795 Sale price: $43025 Term: 33 months / 10,000 miles per year Residual value: 64% Money factor: 0.00070
8.875% NY tax and $700 bank fee are rolled into the payment and they waived $500 doc fee. First month payment is waived by LFS, $490 per month for 32 months. Total due at signing: $175 registration/DMV fees.
They are taking in 2013 RX 350 with 2 months remainging and about $1000 in body damages.
MSRP: $47795 Sale price: $43025 Term: 33 months / 10,000 miles per year Residual value: 64% Money factor: 0.00070
8.875% NY tax and $700 bank fee are rolled into the payment and they waived $500 doc fee. First month payment is waived by LFS, $490 per month for 32 months. Total due at signing: $175 registration/DMV fees.
They are taking in 2013 RX 350 with 2 months remainging and about $1000 in body damages.
Looks very good.. Congrats!
Yeah, I think I did great. Big and heartfelt thanks to you and other mods and people on this board who post actual MF and residual numbers, along with current incentives. You guys rock!
The quickest and easiest transaction I ever had. I just showed the guy my calculations based on 33mo/7500mi/65% residual numbers that were posted before, and we haggled a little over sale price and adjusted residual for 10,000 miles. Although the fact that this is 3rd lease from the same guy might have helped a bit too.
Looking at leasing a 2015 RX 350 (will be my third) in Florida and looking at 27 months 7,500 miles per. So should be a 69% residual Just wanted to confirm on the Money Factor as I have seen .00070 and .00075 (Yes I know the difference is minimal). Is the .00070 for the AWD and the .00075 for the FWD? Thank you
Looking at leasing a 2015 RX 350 (will be my third) in Florida and looking at 27 months 7,500 miles per. So should be a 69% residual Just wanted to confirm on the Money Factor as I have seen .00070 and .00075 (Yes I know the difference is minimal). Is the .00070 for the AWD and the .00075 for the FWD? Thank you
Yes, 69% for 36/7.5.
MF difference is regional; the national numbers show .00070 for leases up to 36 months in length. Anything longer is .00075.
But, we don't have data for all regions, so Florida could be different.
Looking to lease a 2015 RX 350 AWD, 15K miles, either 33 or 36 months. Do you have the MF and Residuals for this?
61% for 33/15; 58% for 36/15
.00070 MF, $1500 lease cash and first payment complimentary.
FWIW, I'm seeing quotes with .00075 MF from dealers in NJ. Haven't seen them mention the lease cash, but that may be part of their quotes.
What's interesting is that several have offered additional security deposits (refundable) as a means to reduce the payments, presumably be lowering the MF. Anyone have any comments on this? I'm particularly concerned that the MF presented was .00075, higher than I expected, and that the additional security deposit is just bringing me back to the market norm of .00070 instead of actually getting a better deal.
Anyone have experience with the additional security deposits, and whether there's anything I should look at more closely when evaluating the deal?
Looking to lease a 2015 RX 350 AWD, 15K miles, either 33 or 36 months. Do you have the MF and Residuals for this?
61% for 33/15; 58% for 36/15
.00070 MF, $1500 lease cash and first payment complimentary.
FWIW, I'm seeing quotes with .00075 MF from dealers in NJ. Haven't seen them mention the lease cash, but that may be part of their quotes.
What's interesting is that several have offered additional security deposits (refundable) as a means to reduce the payments, presumably be lowering the MF. Anyone have any comments on this? I'm particularly concerned that the MF presented was .00075, higher than I expected, and that the additional security deposit is just bringing me back to the market norm of .00070 instead of actually getting a better deal.
Anyone have experience with the additional security deposits, and whether there's anything I should look at more closely when evaluating the deal?
MF from Lexus is regional - and, we don't have all regions' data.
Lexus' security deposit program allows up to 9 MSDs, each of which lowers the MF by .00008
Looking to lease a 2015 RX 350 AWD, 15K miles, either 33 or 36 months. Do you have the MF and Residuals for this?
61% for 33/15; 58% for 36/15
.00070 MF, $1500 lease cash and first payment complimentary.
FWIW, I'm seeing quotes with .00075 MF from dealers in NJ. Haven't seen them mention the lease cash, but that may be part of their quotes.
What's interesting is that several have offered additional security deposits (refundable) as a means to reduce the payments, presumably be lowering the MF. Anyone have any comments on this? I'm particularly concerned that the MF presented was .00075, higher than I expected, and that the additional security deposit is just bringing me back to the market norm of .00070 instead of actually getting a better deal.
Anyone have experience with the additional security deposits, and whether there's anything I should look at more closely when evaluating the deal?
Dealer told me because the MF is low lexus won't allow it to go lower than certain amount? But you can do a one payment lease.
Looking to lease a 2015 RX 350 AWD, 15K miles, either 33 or 36 months. Do you have the MF and Residuals for this?
61% for 33/15; 58% for 36/15
.00070 MF, $1500 lease cash and first payment complimentary.
FWIW, I'm seeing quotes with .00075 MF from dealers in NJ. Haven't seen them mention the lease cash, but that may be part of their quotes.
What's interesting is that several have offered additional security deposits (refundable) as a means to reduce the payments, presumably be lowering the MF. Anyone have any comments on this? I'm particularly concerned that the MF presented was .00075, higher than I expected, and that the additional security deposit is just bringing me back to the market norm of .00070 instead of actually getting a better deal.
Anyone have experience with the additional security deposits, and whether there's anything I should look at more closely when evaluating the deal?
Dealer told me because the MF is low lexus won't allow it to go lower than certain amount? But you can do a one payment lease.
There is a minimum MF that cannot be crossed, but MSDs can take you close to that threshold, I've heard.
One payment leases are another way to lower the MF.
Turns out that they quoted me .00085 MF based on a low tier credit.
Here are his exact words:
"Yes the MF is 0.00075, but that is Tier 1 . it's rare when we get a consumer with Tier 1 credit so that is why we don't quote you with it. all quotes are based on a Tier 1 approval. $2,499 is just money down for your lease. It does not include your taxes. Taxes are based on where you register the car."
Turns out that they quoted me .00085 MF based on a low tier credit.
Here are his exact words:
"Yes the MF is 0.00075, but that is Tier 1 . it's rare when we get a consumer with Tier 1 credit so that is why we don't quote you with it. all quotes are based on a Tier 1 approval. $2,499 is just money down for your lease. It does not include your taxes. Taxes are based on where you register the car."
Thoughts?
Well, the dealer is partially correct.
First off, top tier credit in Lexus speak is Tier 1+ (720 or higher score). Tier 1 is 719-690.
If $2499 is going to cap cost reduction, the quote is just OK. We don't recommend making a down payment on a lease; if the car is stolen or totaled, you lose that money.
Every $1000 down reduces your pre-tax payment about $28/mo on a 36 month lease.
How would you go about continuing this conversation then? I haven't responded to him yet. Should I just tell him I don't want to put any money down?
I apologize if I sound like a complete beginner. I value the opinions of those who know more than me.
Im currently checking out near by states and trying to see if I can get a better quote by using the above one as an OK standard.
Yes, be clear in your desire not to put money down ... the dealer should respect that. Understand that there are other "up front" costs in a lease - bank fee, dealer fee, etc.
All of the states around NY should have the same MF, and the residual is set by the bank and cannot be modified.
However, you might find a dealer willing to give you a better selling price, which will reduce your monthly payment.
Comments
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TIA!
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Looking to lease a 2015 RX 350 AWD, 15K miles, either 33 or 36 months. Do you have the MF and Residuals for this?
.00070 MF, $1500 lease cash and first payment complimentary.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
350 F-Sport, 36/10
MSRP: 54058
Savings - 4058
Rebate - 2061
CapCost - 50K
MF - 0.00075
Res: 33515.96
0 Down
Monthly Payment - 561.67
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How much out of pocket?
----------------------------
Drive Off is 2061
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I brought them down to this deal:
350 F-Sport, 36/10
MSRP: 53799
CapCost - 48.5K
MF - 0.00075
Res: 32781
0 Down
Monthly Payment - 538
We had negotiated that there would be no doc fee. I signed on the offer, checked and got my intro to the car etc. Then when I went to finance, I saw that they had tacked on the doc fee which means the sales manager had made it part of the monthly payment (discreetly). I said I wasn't gonna pay it and they said no deal.
I walked out. I think I had a stellar deal in place.
You think I missed the boat on this one or do you think they will call back? The only sticking point here is the $150
Looks like a good deal. Not being there, I no idea what the dealer will do.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
2015 Lexus RX 350 AWD Starfire Pearl with gray leather
Premium Package w/Blind Spot Monitor System
Preferred Accessory Package
Heated & Ventilated Front Seats
Wood & Leather-Trimmed Steering Wheel & Shift Knob
Intuitive Parking Assist
MSRP: $47795
Sale price: $43025
Term: 33 months / 10,000 miles per year
Residual value: 64%
Money factor: 0.00070
8.875% NY tax and $700 bank fee are rolled into the payment and they waived $500 doc fee.
First month payment is waived by LFS, $490 per month for 32 months.
Total due at signing: $175 registration/DMV fees.
They are taking in 2013 RX 350 with 2 months remainging and about $1000 in body damages.
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The quickest and easiest transaction I ever had. I just showed the guy my calculations based on 33mo/7500mi/65% residual numbers that were posted before, and we haggled a little over sale price and adjusted residual for 10,000 miles. Although the fact that this is 3rd lease from the same guy might have helped a bit too.
So should be a 69% residual
Just wanted to confirm on the Money Factor as I have seen .00070 and .00075
(Yes I know the difference is minimal).
Is the .00070 for the AWD and the .00075 for the FWD?
Thank you
MF difference is regional; the national numbers show .00070 for leases up to 36 months in length. Anything longer is .00075.
But, we don't have data for all regions, so Florida could be different.
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What's interesting is that several have offered additional security deposits (refundable) as a means to reduce the payments, presumably be lowering the MF. Anyone have any comments on this? I'm particularly concerned that the MF presented was .00075, higher than I expected, and that the additional security deposit is just bringing me back to the market norm of .00070 instead of actually getting a better deal.
Anyone have experience with the additional security deposits, and whether there's anything I should look at more closely when evaluating the deal?
Lexus' security deposit program allows up to 9 MSDs, each of which lowers the MF by .00008
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One payment leases are another way to lower the MF.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Just got back from the dealer - turning in a 2013 RX and they are offering the following deal
2015 RX AWD
Comfort Package
Nav
Park Assist
Premium w/Blind Spot
Wood/Leather Steering Wheel
Preferred Accessory Package
MSRP 50,444
Adjusted Price (after Discount and rebate) with all fees 44,235.85
$1,500 Cash Down
10,000 miles annual
27 months - $439
36 months - $447
It looks like the 27 month is .00075 and 69% - the 36 month residual looks to be 62% - not sure.
Is this a good deal? Does either one of these seem better?
I get $427/mo + tax for 27 months, and $417/mo + tax for 36 months, so from my calculations, the 36 month deal is better.
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2015 RX 350 AWD 36 months 15K
NYC
MSRP: $46,309
Sale Price: $43,014
MF: 0.00085
RV: $28,248.49
$2,499 due at signing
$370/month
im not sure if this monthly price is with or without tax either
I'd ask about tax - could be included in the $2499 due at signing. Or not.
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What type of monthly price would be considered good with the above stats?
ill email them back about the MF and what exactly the due at signing entails.
Here are his exact words:
"Yes the MF is 0.00075, but that is Tier 1 . it's rare when we get a consumer with Tier 1 credit so that is why we don't quote you with it. all quotes are based on a Tier 1 approval. $2,499 is just money down for your lease. It does not include your taxes. Taxes are based on where you register the car."
Thoughts?
First off, top tier credit in Lexus speak is Tier 1+ (720 or higher score). Tier 1 is 719-690.
If $2499 is going to cap cost reduction, the quote is just OK. We don't recommend making a down payment on a lease; if the car is stolen or totaled, you lose that money.
Every $1000 down reduces your pre-tax payment about $28/mo on a 36 month lease.
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How would you go about continuing this conversation then? I haven't responded to him yet. Should I just tell him I don't want to put any money down?
I apologize if I sound like a complete beginner. I value the opinions of those who know more than me.
Im currently checking out near by states and trying to see if I can get a better quote by using the above one as an OK standard.
All of the states around NY should have the same MF, and the residual is set by the bank and cannot be modified.
However, you might find a dealer willing to give you a better selling price, which will reduce your monthly payment.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
2015 RX 350
MSRP $48,024
Negotiated price: 43,500
$1,000 total at signing
Lease for $499/mo (includes taxes)
33 months 15k miles/yr
Is that good? The calcuator is giving me $546? I think I'm doing it wrong.
Thanks
Using your selling price as the CAP cost, I get $485/mo.+tax.
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Exactly. What you want is the net cap cost.. and, the math on how it differs from the selling price.
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"Bank fee is $700 and doc fee is $399. (these fees are already included in your quote) Net cap cost is $43,980.51"
Thoughts?
Exactly. What you want is the net cap cost.. and, the math on how it differs from the selling price.
This is what he responded with:
"Bank fee is $700 and doc fee is $399. (these fees are already included in your quote) Net cap cost is $43,980.51"
Thoughts?
Yeah.. .looks like those fees plus taxes are all rolled in, as I get $499.96 with that CAP cost.
Pretty good deal
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Thank you kyfdx and Michaell for all the help. Truly was worth every penny that you guys helped me save.
MSRP: $51,150
Lease: 36Mo/18K
Offer: $46,550
1st Mo Complimentary + $1500 Comp Cash
Bank Fee $700 + Doc Fee $399
Added $1800 (.20 per mile for additional 9000)
Residual 58%
Lexus MF .00075 - 9 MSDs at .00008 (.000072) = .00003
7% Tax
Total Deposit $6050 ($4950 of MSDs + Tax)
Looking at $513 after tax monthly? Is that accurate? Thanks in advance!