Here is offer I had today on a 2015 base (California). MSRP 45,948. Sales price 41,561 less an additional 500 rebate. Total down 1300. MF .00105, RF .72 . 10k miles 24x394 pre-tax.
MF for 12k miles is .71.
Dealer said go for 24 mos as opposed to advertised 27 mos . You save a year's registration fee.
@jrk7 said:
Here is offer I had today on a 2015 base (California). MSRP 45,948. Sales price 41,561 less an additional 500 rebate. Total down 1300. MF .00105, RF .72 . 10k miles 24x394 pre-tax.
MF for 12k miles is .71.
Dealer said go for 24 mos as opposed to advertised 27 mos . You save a year's registration fee.
Base MF and a healthy discount from sticker, especially since it's a 2015.
@brodway said:
Is there pricing for 20 or 21k miles on 24 or 27 month lease for 2015 RX350 ?
No.. Lexus would use the 15K/yr residual, then reduce it on a per/mile basis for the additional miles. Not sure what that per/mile cost would be.. though probably $0.15-$0.30 per mile.
New to the forum. Did a quick search, but wanted to confirm my understanding.
Wife wants a 2015 rx350 awd w premium package and back up/blind spot monitor.
Price of vehicle quoted was $44,900.
Lease deal was as follows:
$2,999 down Approx 1,100 of taxes Dmv fees of 100
So $4,200 down, and the monthly payment would be $399. Lease would be for 27 months and we would be allocated 10k miles per year.
If we did Zero down price would be about $555 per month.
We are purchasing car in New York.
Money factor is .00142 and residual is 70%.
I think this is a national standard promotion. Can we do better? I asked about security deposits and they looked at me like I was crazy, maybe it doesn't exist in Ny?
The national specials are not good deals, you need to negotiate the sale price of the vehicle first. What is the MSRP of the vehicle? The selling price is the most important factor in your lease cost. 2015 rx 350's are going for about 4.5k to 5k below MSRP in the NYC metro area, so contact New Jersey dealers also. Contact the internet sales rep at the dealerships, they will start off at a good price and it's a lot easier negotiating online, plus by doing this you can have many dealerships bid for your business.
money factor should be .00105 unless your credit score is not tier 1+.
New York only allows one security deposit. New Jersey allows nine. If you are a New York resident I am not sure if you can use the nine security deposits if you lease from a jersey dealer, you need to contact a jersey dealer to find out. If you can then it is a no brainer,,, you will save about 50 bucks a month in lease payments by leasing in New Jersey, and no selling price in New York will save you that much unless they sell you the vehicle 1.5k lower then a jersey dealer.
Car I'm looking at: 2015 RX 350 AWD with Premium package (MSRP: $47,608)
Any intel on what the sales prices are going for in Los Angeles?
I was quoted about $550/mo for a 27-month lease, but I think it's the national special. Do you know what the RV and MF are for 24 and 27-month leases at 10k/year?
Thanks!
@jessica2011 said:
The national specials are not good deals, you need to negotiate the sale price of the vehicle first.
What is the MSRP of the vehicle? The selling price is the most important factor in your lease cost.
2015 rx 350's are going for about 4.5k to 5k below MSRP in the NYC metro area, so contact New Jersey dealers also. Contact the internet sales rep at the dealerships, they will start off at a good price and it's a lot easier negotiating online, plus by doing this you can have many dealerships bid for your business.
money factor should be .00105 unless your credit score is not tier 1+.
New York only allows one security deposit. New Jersey allows nine. If you are a New York resident I am not sure if you can use the nine security deposits if you lease from a jersey dealer, you need to contact a jersey dealer to find out. If you can then it is a no brainer,,, you will save about 50 bucks a month in lease payments by leasing in New Jersey, and no selling price in New York will save you that much unless they sell you the vehicle 1.5k lower then a jersey dealer.
Thanks for the information! Not much for me to add to that ... dealer could be marking up the MF on you for extra profit. NY calculates all sales tax for the lease up front and you can either pay it at lease inception or roll it into the cap cost.
@mdinla said:
Car I'm looking at: 2015 RX 350 AWD with Premium package (MSRP: $47,608)
Any intel on what the sales prices are going for in Los Angeles?
I was quoted about $550/mo for a 27-month lease, but I think it's the national special. Do you know what the RV and MF are for 24 and 27-month leases at 10k/year?
Thanks!
MF is .00105
24/10 RV 72%
27/10 RV 70%
See post from Jessica above - good information on pricing.
Thanks, Michaell. Yes, I saw Jessica's post. Very helpful. The thing is, this car is literally everywhere in L.A. I wonder if the dealers there will negotiate as much as in NYC given the insanely high demand.
@mdinla said:
Thanks, Michaell. Yes, I saw Jessica's post. Very helpful. The thing is, this car is literally everywhere in L.A. I wonder if the dealers there will negotiate as much as in NYC given the insanely high demand.
You won't know until you try. Lots of Lexus dealers in the LA area for you to contact.
Another newbie question: I calculated out the lease payment using RV and MF to get $509/month. How is tax done? Is it a straight state sales tax on top of this amount (i.e. $509 * 10%)? Or is it a sales tax on the sale amount divided by the months in the lease?
Thanks.
@mdinla said:
Another newbie question: I calculated out the lease payment using RV and MF to get $509/month. How is tax done? Is it a straight state sales tax on top of this amount (i.e. $509 * 10%)? Or is it a sales tax on the sale amount divided by the months in the lease?
Thanks.
In California, the base monthly payment is subject to sales tax. So, if your pre-tax payment is $509/mo, 10% tax would be about $51, so your total payment would be $560/mo.
Other states manage sales taxes for leases differently.
I am looking between the 2015 AWD Lexus RX350 and Acura MDX vehicles. Lexus finance manager told me today because of the $1200 incentives ($500 rebate + 1st month free up to $700), he can only offer MF 0.00145. He said they got to make some money somewhere. I laughed! I haven't started negotiating the purchase price yet.
@mdinla said:
Car I'm looking at: 2015 RX 350 AWD with Premium package (MSRP: $47,608)
Any intel on what the sales prices are going for in Los Angeles?
I was quoted about $550/mo for a 27-month lease, but I think it's the national special. Do you know what the RV and MF are for 24 and 27-month leases at 10k/year?
Thanks!
Closed this deal in LA area yesterday: MSRP 45948, sales price 41561. $1300 cash, MF .00105, 24X425 tax included.Residual is .72 (changes to .71 if you want 12k miles).$500 rebate and Lexus make first payment.
@jrk7 said:
Closed this deal in LA area yesterday: MSRP 45948, sales price 41561. $1300 cash, MF .00105, 24X425 tax included.Residual is .72 (changes to .71 if you want 12k miles).$500 rebate and Lexus make first payment.
Hello - I am getting the following offer from a dealer on a 2014 RX 350 AWD, with premium package, blind spot monitor and comfort package. MSRP : $51045 Sale price:42641 Residual 59% or 30117 MF: 0.00170 Sales tax rate: 6.25% in Texas Initial down:$4k Monthly payment :$475 36 months, 12k miles lease
Is this a good deal? Or should I renegotiate? Thanks
@vishals said:
Hello - I am getting the following offer from a dealer on a 2014 RX 350 AWD, with premium package, blind spot monitor and comfort package.
MSRP : $51045
Sale price:42641
Residual 59% or 30117
MF: 0.00170
Sales tax rate: 6.25% in Texas
Initial down:$4k
Monthly payment :$475
36 months, 12k miles lease
Is this a good deal? Or should I renegotiate?
Thanks
Okay. I'm in NJ and negotiated a sales price on a 2015 RX 350 AWD, Navigation system + premium and comfort packages. Sales price is $46500 plus tax/tags. Trading in existing vehicle of $4000.
I haven't been quoted the payment yet but I'm looking for 27 months, 12k miles/yr lease.
1- Using standard residual and MF what overall payment should I expect going in there?
@jrk7 Wow, looks like a good deal! Does that mean that the cap cost was $41,561 after you put $1,300 down? Also, did the dealer pay all your drive-off fees (registration, etc) or just the first payment? And where does the $500 rebate come in? Did that also contribute to the cap cost being $41,561?
To car salami What's the msrp of the vehicle you negotiated down to 46500? In New Jersey rx 350 with those features start at 50254 I believe. If so you should be able to knock a few more bucks off the price. See my earlier posts for pricing/leasing in New Jersey.
Thanks Jessica.
Yep MSRP is 50269. You think 45500 is more reasonable target price? Where abouts would that put my monthly payment with a 4k trade in and 27 mo lease /12k miles?
Car salami MSRP 50269 Selling Price 46500 Trade value 4000 Lexus lease cash 500 27 month/12K residual 69% Money Factor .00105 with Tier 1 credit Lease total: 376.02 per month (7% state tax already factored into total) With 9 Multiple security deposits refundable at end of lease your monthly payments will be 316.94 (tax factored in) NOTES: Extra costs not factored above. $186 NJ luxury tax (.4% of 46500) 700 acquisition fee Doc fee (350 to 500 in New Jersey) 300+ registration/title 7.5 tire fee First month payment waived ( added as cap cost in my lease for some reason, thus I still owed first month. Not sure if other dealers do that)
Try and reduce your selling price. 45000 or better is doable.
Signed this deal for RX 350 AWD in CA:
MSRP - $51,458
PP - $45,600
MF - 0.00105
RV - 72% (24 mo, 10k miles/ yr)
Cost - $475/ mo including tax
The dealer had no idea about the MSD program. After research, refused to do it saying that it can't be used with incentive rates. Anyway, I had other avenues to equally put my money to use, so didn't go crazy on them.
Thanks to this forum for all the information Happy Shopping!
Does anyone know how much the MF is reduced from 0.00105 with each security deposit? I contacted Lexus financial and they were not able to give me an answer / the dealer is trying to tell me that 9 msd will reduce only to 0.00077. Online it seems to vary from 0.00007 or 0.0001 or ? Thanks
Each security deposit reduces your money factor by .00008. They are rounded up to the next 25 dollars of your monthly lease before tax. In New Jersey we can make 9 deposits. 9 multiplied by .00008 equals .00072. I used them on my rx 350 lease last month with an original money factor of .00105. Subtract .00072 from that and my new money factor was .00033. Saved 1900 dollars over the course of the lease.
Interesting to consider. I got a call from my Lexus dealer asking me whether I would consider turning my lease early, like 2 years early and getting a '15 model for the same monthly lease amount.
Sounds wonderful, he said no catch. You just basically walk in, sign the new lease, they would buy out my current car and I drive off. I would be responsible for writing 1st payment only.
How is that even possible? What am I missing here? I'd bite unless someone can talk me out of this.
@gavrik said:
Interesting to consider. I got a call from my Lexus dealer asking me whether I would consider turning my lease early, like 2 years early and getting a '15 model for the same monthly lease amount.
Sounds wonderful, he said no catch. You just basically walk in, sign the new lease, they would buy out my current car and I drive off. I would be responsible for writing 1st payment only.
How is that even possible? What am I missing here? I'd bite unless someone can talk me out of this.
Any thoughts are appreciated. Thanks.
Without any numbers, it's hard to fully evaluate the offer. I suspect they will put a high trade value on your current RX to more than cover the buyout on the existing lease and use the excess as the up front costs on the new lease.
I'd have the dealer review all the numbers with you (trade value, MSRP and selling price of the new car), then come on back and we can give you a more informed opinion.
He faxed the offer sheet to me this morning. They are giving me 36k for the car that Edmunds is showing as 32k as a dealer trade-in (6k upside down on the lease, still owe 42k to the lease company). Money factor: 0.00065, residual: 62%.
$1000 rebate (is this customer loyalty rebate?)
Car selling price at $500 above invoice (last time they wouldn't budge on less than 2K above invoice)
They are eating the sales tax - he said something about applying tax credit from another customer's lease
I am not sure how the dealer can make any money on this unless they have a customer lined up to buy my current vehicle at much higher price.
@gavrik said:
He faxed the offer sheet to me this morning. They are giving me 36k for the car that Edmunds is showing as 32k as a dealer trade-in (6k upside down on the lease, still owe 42k to the lease company). Money factor: 0.00065, residual: 62%.
$1000 rebate (is this customer loyalty rebate?)
Car selling price at $500 above invoice (last time they wouldn't budge on less than 2K above invoice)
They are eating the sales tax - he said something about applying tax credit from another customer's lease
I am not sure how the dealer can make any money on this unless they have a customer lined up to buy my current vehicle at much higher price.
I don't get how they can offer you the same monthly payment when there is $6K of negative equity to deal with. That alone works out to $167/mo for a 36 month lease on top of the depreciation of the new car and the interest (rent charge).
And I truly don't understand how the tax credit from another customer's lease would affect your deal in any way, shape or form.
RX's are not that rare - overallowing on the trade by $4K seems like a dumb move on the part of the dealer. They are worth what someone will pay for it - head over to "Real World Trade in Values" to get a good estimate of what your current car is worth.
Just too many things that don't make sense to go forward on this deal.
I went in today after work and signed the new lease. It turned out as they had promised. I turned in my vehicle, a technician had it checked and after that I just went in, paid my 1st payment and drove off in a new RX350.
My sales guy said they had a client who was looking for the vehicle with color options, specs matching my car with low miles. He had agreed on the price sight unseen and this was just a matter of convincing me to turn in my car. He said they were making about 1K on the sale of my car and they were making $800 upfront on the lease of my new vehicle and another $500 on the back end. For what its worth, I do not know whether this is true or not. I am just thinking that this would not have happened if they weren't making money on this deal.
I went in today after work and signed the new lease. It turned out as they had promised. I turned in my vehicle, a technician had it checked and after that I just went in, paid my 1st payment and drove off in a new RX350.
My sales guy said they had a client who was looking for the vehicle with color options, specs matching my car with low miles. He had agreed on the price sight unseen and this was just a matter of convincing me to turn in my car. He said they were making about 1K on the sale of my car and they were making $800 upfront on the lease of my new vehicle and another $500 on the back end. For what its worth, I do not know whether this is true or not. I am just thinking that this would not have happened if they weren't making money on this deal.
Congrats! Glad everything worked out as you expected.
Comments
Thanks ...any difference in 2014 or 2015?
Subtract 2% on the RV for 2014. No 2014 MF's available.
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!
MODERATOR
2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Here is offer I had today on a 2015 base (California). MSRP 45,948. Sales price 41,561 less an additional 500 rebate. Total down 1300. MF .00105, RF .72 . 10k miles 24x394 pre-tax.
MF for 12k miles is .71.
Dealer said go for 24 mos as opposed to advertised 27 mos . You save a year's registration fee.
Base MF and a healthy discount from sticker, especially since it's a 2015.
Nothing not to like about this deal.
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!
MODERATOR
2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Is there pricing for 20 or 21k miles on 24 or 27 month lease for 2015 RX350 ?
No.. Lexus would use the 15K/yr residual, then reduce it on a per/mile basis for the additional miles. Not sure what that per/mile cost would be.. though probably $0.15-$0.30 per mile.
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and share!
Edmunds Moderator
thanks for the info.
New to the forum. Did a quick search, but wanted to confirm my understanding.
Wife wants a 2015 rx350 awd w premium package and back up/blind spot monitor.
Price of vehicle quoted was $44,900.
Lease deal was as follows:
$2,999 down
Approx 1,100 of taxes
Dmv fees of 100
So $4,200 down, and the monthly payment would be $399. Lease would be for 27 months and we would be allocated 10k miles per year.
If we did Zero down price would be about $555 per month.
We are purchasing car in New York.
Money factor is .00142 and residual is 70%.
I think this is a national standard promotion. Can we do better? I asked about security deposits and they looked at me like I was crazy, maybe it doesn't exist in Ny?
Thanks!
Nick
What is the MSRP of the vehicle? The selling price is the most important factor in your lease cost.
2015 rx 350's are going for about 4.5k to 5k below MSRP in the NYC metro area, so contact New Jersey dealers also. Contact the internet sales rep at the dealerships, they will start off at a good price and it's a lot easier negotiating online, plus by doing this you can have many dealerships bid for your business.
money factor should be .00105 unless your credit score is not tier 1+.
New York only allows one security deposit. New Jersey allows nine. If you are a New York resident I am not sure if you can use the nine security deposits if you lease from a jersey dealer, you need to contact a jersey dealer to find out. If you can then it is a no brainer,,, you will save about 50 bucks a month in lease payments by leasing in New Jersey, and no selling price in New York will save you that much unless they sell you the vehicle 1.5k lower then a jersey dealer.
Car I'm looking at: 2015 RX 350 AWD with Premium package (MSRP: $47,608)
Any intel on what the sales prices are going for in Los Angeles?
I was quoted about $550/mo for a 27-month lease, but I think it's the national special. Do you know what the RV and MF are for 24 and 27-month leases at 10k/year?
Thanks!
Thanks for the information! Not much for me to add to that ... dealer could be marking up the MF on you for extra profit. NY calculates all sales tax for the lease up front and you can either pay it at lease inception or roll it into the cap cost.
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!
MODERATOR
2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
MF is .00105
24/10 RV 72%
27/10 RV 70%
See post from Jessica above - good information on pricing.
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!
MODERATOR
2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Thanks, Michaell. Yes, I saw Jessica's post. Very helpful. The thing is, this car is literally everywhere in L.A. I wonder if the dealers there will negotiate as much as in NYC given the insanely high demand.
You won't know until you try. Lots of Lexus dealers in the LA area for you to contact.
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!
MODERATOR
2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Another newbie question: I calculated out the lease payment using RV and MF to get $509/month. How is tax done? Is it a straight state sales tax on top of this amount (i.e. $509 * 10%)? Or is it a sales tax on the sale amount divided by the months in the lease?
Thanks.
Yup. I will post results here after I do some negotiating. Thanks again.
In California, the base monthly payment is subject to sales tax. So, if your pre-tax payment is $509/mo, 10% tax would be about $51, so your total payment would be $560/mo.
Other states manage sales taxes for leases differently.
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!
MODERATOR
2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
I am looking between the 2015 AWD Lexus RX350 and Acura MDX vehicles. Lexus finance manager told me today because of the $1200 incentives ($500 rebate + 1st month free up to $700), he can only offer MF 0.00145. He said they got to make some money somewhere. I laughed! I haven't started negotiating the purchase price yet.
Closed this deal in LA area yesterday: MSRP 45948, sales price 41561. $1300 cash, MF .00105, 24X425 tax included.Residual is .72 (changes to .71 if you want 12k miles).$500 rebate and Lexus make first payment.
$425/mo on a $46k car is a nice deal. Enjoy!
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!
MODERATOR
2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
MSRP : $51045
Sale price:42641
Residual 59% or 30117
MF: 0.00170
Sales tax rate: 6.25% in Texas
Initial down:$4k
Monthly payment :$475
36 months, 12k miles lease
Is this a good deal? Or should I renegotiate?
Thanks
Answered in the 2014 RX thread.
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!
MODERATOR
2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Okay. I'm in NJ and negotiated a sales price on a 2015 RX 350 AWD, Navigation system + premium and comfort packages. Sales price is $46500 plus tax/tags. Trading in existing vehicle of $4000.
I haven't been quoted the payment yet but I'm looking for 27 months, 12k miles/yr lease.
1- Using standard residual and MF what overall payment should I expect going in there?
2- Is this a good deal or can I do better?
All help is appreciated!
@jrk7 Wow, looks like a good deal! Does that mean that the cap cost was $41,561 after you put $1,300 down? Also, did the dealer pay all your drive-off fees (registration, etc) or just the first payment? And where does the $500 rebate come in? Did that also contribute to the cap cost being $41,561?
What's the msrp of the vehicle you negotiated down to 46500? In New Jersey rx 350 with those features start at 50254 I believe. If so you should be able to knock a few more bucks off the price. See my earlier posts for pricing/leasing in New Jersey.
Thanks Jessica.
Yep MSRP is 50269. You think 45500 is more reasonable target price? Where abouts would that put my monthly payment with a 4k trade in and 27 mo lease /12k miles?
What is the RV and MF on a 2015 RX350 FWD, 36mth and 27mth at 10k miles a year in Los Angeles, CA.
In CA, the dealer is quoting $700 as bank fee. Is that normal or something that can be negotiated/ waived?
27/10 - 70%
36/10 - 62%
MF is .00105
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!
MODERATOR
2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
If this is the same as the acquisition fee, it cannot be waived.
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!
MODERATOR
2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
MSRP 50269
Selling Price 46500
Trade value 4000
Lexus lease cash 500
27 month/12K residual 69%
Money Factor .00105 with Tier 1 credit
Lease total: 376.02 per month (7% state tax already factored into total)
With 9 Multiple security deposits refundable at end of lease your monthly payments will be 316.94 (tax factored in)
NOTES: Extra costs not factored above. $186 NJ luxury tax (.4% of 46500)
700 acquisition fee
Doc fee (350 to 500 in New Jersey)
300+ registration/title
7.5 tire fee
First month payment waived ( added as cap cost in my lease for some reason, thus I still owed first month. Not sure if other dealers do that)
Try and reduce your selling price. 45000 or better is doable.
Great thanks Jessica for your help
Got this deal on a 24-month 10k/yr lease in CA:
Wow, it's a great car.
And a pretty good deal as well! Enjoy!
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!
MODERATOR
2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Signed this deal for RX 350 AWD in CA:
MSRP - $51,458
PP - $45,600
MF - 0.00105
RV - 72% (24 mo, 10k miles/ yr)
Cost - $475/ mo including tax
The dealer had no idea about the MSD program. After research, refused to do it saying that it can't be used with incentive rates. Anyway, I had other avenues to equally put my money to use, so didn't go crazy on them.
Thanks to this forum for all the information
Happy Shopping!
Does anyone know how much the MF is reduced from 0.00105 with each security deposit? I contacted Lexus financial and they were not able to give me an answer / the dealer is trying to tell me that 9 msd will reduce only to 0.00077. Online it seems to vary from 0.00007 or 0.0001 or ? Thanks
New Jersey we can make 9 deposits.
9 multiplied by .00008 equals .00072.
I used them on my rx 350 lease last month with an original money factor of .00105. Subtract .00072 from that and my new money factor was .00033. Saved 1900 dollars over the course of the lease.
Is the RV and MF for this month stays the same on 27 months/12k miles. I'm from NJ.
Thanks
.00105 MF and 68% residual for 27mo, 12K/yr.
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and share!
Edmunds Moderator
Interesting to consider. I got a call from my Lexus dealer asking me whether I would consider turning my lease early, like 2 years early and getting a '15 model for the same monthly lease amount.
Sounds wonderful, he said no catch. You just basically walk in, sign the new lease, they would buy out my current car and I drive off. I would be responsible for writing 1st payment only.
How is that even possible? What am I missing here? I'd bite unless someone can talk me out of this.
Any thoughts are appreciated. Thanks.
Without any numbers, it's hard to fully evaluate the offer. I suspect they will put a high trade value on your current RX to more than cover the buyout on the existing lease and use the excess as the up front costs on the new lease.
I'd have the dealer review all the numbers with you (trade value, MSRP and selling price of the new car), then come on back and we can give you a more informed opinion.
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!
MODERATOR
2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
He faxed the offer sheet to me this morning. They are giving me 36k for the car that Edmunds is showing as 32k as a dealer trade-in (6k upside down on the lease, still owe 42k to the lease company). Money factor: 0.00065, residual: 62%.
$1000 rebate (is this customer loyalty rebate?)
Car selling price at $500 above invoice (last time they wouldn't budge on less than 2K above invoice)
They are eating the sales tax - he said something about applying tax credit from another customer's lease
I am not sure how the dealer can make any money on this unless they have a customer lined up to buy my current vehicle at much higher price.
I don't get how they can offer you the same monthly payment when there is $6K of negative equity to deal with. That alone works out to $167/mo for a 36 month lease on top of the depreciation of the new car and the interest (rent charge).
And I truly don't understand how the tax credit from another customer's lease would affect your deal in any way, shape or form.
RX's are not that rare - overallowing on the trade by $4K seems like a dumb move on the part of the dealer. They are worth what someone will pay for it - head over to "Real World Trade in Values" to get a good estimate of what your current car is worth.
Just too many things that don't make sense to go forward on this deal.
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!
MODERATOR
2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
My sales guy said they had a client who was looking for the vehicle with color options, specs matching my car with low miles. He had agreed on the price sight unseen and this was just a matter of convincing me to turn in my car. He said they were making about 1K on the sale of my car and they were making $800 upfront on the lease of my new vehicle and another $500 on the back end. For what its worth, I do not know whether this is true or not. I am just thinking that this would not have happened if they weren't making money on this deal.
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!
MODERATOR
2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Need you alls opinion on this deal:
2015 RX350 F Sport
MSRP: 52,614
OTD: 51,500
MF: .00017
$0 Down
Tire protection included
3 Year 48k mile lease
$699/mo.
Would you guys suggest this as being a decent deal? The cabaret interior is something else!
When you say OTD, are you rolling in all the up front taxes and fees?
Deduct $600 from the residual for the extra miles (3000 x .20).
With the base MF, I get a pre-tax payment of $670.98.
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!
MODERATOR
2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Yes OTD includes up front fees and taxes. (TX)
So, the sale price was ~$48k.
Work to get the base MF, and consider using MSDs to lower it.
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!
MODERATOR
2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige