2015 Lexus RX 350 Lease Questions

ral12

Forgot to mention that the 33-month residual value quoted is 65%. Thanks again.

Michaell

jmj629 said:

Michaell said:

jmj629 said:

Hello Michaell,

First time leasing and wanted to get your thought on deal below. I'm looking at a '15 RX350 AWD.

Car: 2015 RX350 AWD with NAV
MSRP: $51,863
Cap Cost: $48,277
Residual: 65.7%
Money Factor: not sure Tier 1
Term: 36 months
Miles: 12,000
Lease payment: $500 (NY tax paid upfront)
Down Payment: $3,000
Breakdown of down payment (up front tax: $1612.26; acquisition fee: $166.27; license & title: $429.88; first month payment: $500, cap cost reduction: $291.59; rebate credit: $700)

Seem like a good deal? What does your model say?

Base MF is .00090, but I show the 36/12 residual as 60%.

With your MSRP and selling price, I get a payment of $548.10.mo.

Sorry I probably miscalculated the residual then.

Here are the figures that the dealer gave me: MSRP: $51,863; Gross cap: $48,569; Adj. cap cost: $48,277; Residual: $31,717. Is my residual still 60%?

Based on these numbers and terms, is it still $548.10 in your calculation? Also, is it a reasonable deal at $500/month and NY tax of 8.875% paid upfront (not in payment)?

First timer so appreciate your help here.

Yes I still get $548.10. That number is pre-tax - you'll have to get another $1700 off the sales price to get to $500/mo ($48 x 36 months)

Michaell

ral12 said:

Sorry, posted by mistake. Anyhow,
MSRP: 50,659
Rebate ( 700)
Preferred customer program (2,459)
Selling price 48,200
Services fee 133
Sales tax 1,729,23
License and title fees 133.55
Total purchase price 50,195.78

This was supposedly run with a MF of .0013 but the finance guy told me he might be able to do .0009 with good credit (which I have...and how nice of him to get me down to what I think it was supposed to be in the first place)

For 33 months and 7,500 miles (I want 10,000 but I don't remember those numbers...needless to say they were higher), $625.50 per month with $2,000 due at signing. Am I crazy to think that this is ridiculously high? I ran the numbers myself and it looks to me like my payment with $2,000 down should be in the neighborhood of $550. Am i missing something? And am I realistic in expecting to be able to get the selling price down to a point where I can get to $525-$540? It seems like everyone is paying way less with a higher mileage allowance. Or is it just maybe that living in Pennsylvania contributes to this? I really like the RX350 and I'm okay with paying a fair price for it, I guess I'm just wondering what people here think might be a realistic expectation.

Thanks in advance for your response(s).

65% for 36/7.5 and .00090. With your MSRP and total purchase price I get a $0 down payment of $598.07. $2000 down will bring your payment down about $61/mo.

joesfl3

Hi Michaell,

Can you please share Novembers's residual and MF for 27 month / 7.5k miles for 2015 RX 350 FWD with Premium Package + BSM (MSRP $47,345)? 800+ credit score. South Florida region. Are there any $$$ incentives for first-time Lexus customers?

Thank you!

Michaell

joesfl3 said:

Hi Michaell,

Can you please share Novembers's residual and MF for 27 month / 7.5k miles for 2015 RX 350 FWD with Premium Package + BSM (MSRP $47,345)? 800+ credit score. South Florida region. Are there any $$$ incentives for first-time Lexus customers?

Thank you!

Residual numbers are good through the end of the year ... 70% for 27/7.5.

MF is valid only through today and is .00090 for the RX350. New MF numbers should be available this week.

Use the "Car Research" tab at the top of the page to see what current incentives Lexus is offering.

ccm2

What is the residual for 2015 RX 350 AWD 48 month lease 18K per year in Massachusetts. 

Michaell

ccm2 said:

What is the residual for 2015 RX 350 AWD 48 month lease 18K per year in Massachusetts. 

49% for 48 month, 15K miles per year.

Extra miles are charged at .20 per, so 12,000 extra miles (3000 x 4 years) would result in an additional $2400 being deducted from the residual value.

joesfl3

Thank you! Can you please check the new MF? I also heard from a sales guy that Lexus has an MSD (Multiple Security Deposit) program. Do you know anything about it?

Michaell said:

joesfl3 said:

Hi Michaell,

Can you please share Novembers's residual and MF for 27 month / 7.5k miles for 2015 RX 350 FWD with Premium Package + BSM (MSRP $47,345)? 800+ credit score. South Florida region. Are there any $$$ incentives for first-time Lexus customers?

Thank you!

Residual numbers are good through the end of the year ... 70% for 27/7.5.

MF is valid only through today and is .00090 for the RX350. New MF numbers should be available this week.

Use the "Car Research" tab at the top of the page to see what current incentives Lexus is offering.

Michaell

joesfl3 said:

Thank you! Can you please check the new MF? I also heard from a sales guy that Lexus has an MSD (Multiple Security Deposit) program. Do you know anything about it?

Michaell said:

joesfl3 said:

Hi Michaell,

Can you please share Novembers's residual and MF for 27 month / 7.5k miles for 2015 RX 350 FWD with Premium Package + BSM (MSRP $47,345)? 800+ credit score. South Florida region. Are there any $$$ incentives for first-time Lexus customers?

Thank you!

Residual numbers are good through the end of the year ... 70% for 27/7.5.

MF is valid only through today and is .00090 for the RX350. New MF numbers should be available this week.

Use the "Car Research" tab at the top of the page to see what current incentives Lexus is offering.

We don't yet have the new MF numbers from Lexus ...

MSD program allows for a .00005 reduction in MF for every deposit, up to a maximum of 9. Each deposit is the monthly payment, rounded up to the next $50.

joesfl3

Thanks! For MF 0.0009 it looks like 9 deposits will drop it from 2.16% to 1.08%. I am not sure it will be worth it. I hope they'll publish MF by EOW.

Michaell said:

joesfl3 said:

Thank you! Can you please check the new MF? I also heard from a sales guy that Lexus has an MSD (Multiple Security Deposit) program. Do you know anything about it?

Michaell said:

joesfl3 said:

Hi Michaell,

Can you please share Novembers's residual and MF for 27 month / 7.5k miles for 2015 RX 350 FWD with Premium Package + BSM (MSRP $47,345)? 800+ credit score. South Florida region. Are there any $$$ incentives for first-time Lexus customers?

Thank you!

Residual numbers are good through the end of the year ... 70% for 27/7.5.

MF is valid only through today and is .00090 for the RX350. New MF numbers should be available this week.

Use the "Car Research" tab at the top of the page to see what current incentives Lexus is offering.

We don't yet have the new MF numbers from Lexus ...

MSD program allows for a .00005 reduction in MF for every deposit, up to a maximum of 9. Each deposit is the monthly payment, rounded up to the next $50.

jessica2011

Each security deposit reduces money factor by .00008.  I made the max 9 deposits in July 2014. Original money factor was .00105, and it ended up dropping to .00033 after the nine deposits. So it looks like the current money factor of .0009 will drop to .000018.  

joesfl3

Yeah, it is actually a good deal. Much better than putting money down for sure. I am slow today

joesfl3

Hi Michaell,

Can you please check Residual and MF for 36 month / 7.5k miles for 2015 RX 350 FWD?

Thanks!

kyfdx

joesfl3 said:

Hi Michaell,

Can you please check Residual and MF for 36 month / 7.5k miles for 2015 RX 350 FWD?

Thanks!

.00050 MF and 62% residual. $1000 lease cash and complimentary 1st payment.

jay285

kyfdx said:

joesfl3 said:

Hi Michaell,

Can you please check Residual and MF for 36 month / 7.5k miles for 2015 RX 350 FWD?

Thanks!

.00050 MF and 62% residual. $1000 lease cash and complimentary 1st payment.

Michaell - Is the residual on a 36/15 2015 RX 350 FWD still 58%?

Also, can you please confirm the MF of .00050 and complementary 1st payment are new changes from Lexus this month. I started negotiating lease terms last month and wanted to get a dealer update if these are new changes this month. Thanks!

jay285

jay285 said:

kyfdx said:

joesfl3 said:

Hi Michaell,

Can you please check Residual and MF for 36 month / 7.5k miles for 2015 RX 350 FWD?

Thanks!

.00050 MF and 62% residual. $1000 lease cash and complimentary 1st payment.

Michaell - Is the residual on a 36/15 2015 RX 350 FWD still 58%?

Also, can you please confirm the MF of .00050 and complementary 1st payment are new changes from Lexus this month. I started negotiating lease terms last month and wanted to get a dealer update if these are new changes this month. Thanks!

Should also mention this is for a lease in Texas. Also, the $1000 cash back also looks to have changed. My dealer quoted this as $700 last month.

Michaell

jay285 said:

kyfdx said:

joesfl3 said:

Hi Michaell,

Can you please check Residual and MF for 36 month / 7.5k miles for 2015 RX 350 FWD?

Thanks!

.00050 MF and 62% residual. $1000 lease cash and complimentary 1st payment.

Michaell - Is the residual on a 36/15 2015 RX 350 FWD still 58%?

Also, can you please confirm the MF of .00050 and complementary 1st payment are new changes from Lexus this month. I started negotiating lease terms last month and wanted to get a dealer update if these are new changes this month. Thanks!

Confirm 58% residual for 36/15. Confirm .00050 MF.

lexus4mes

is this a good deal for Minnesota? seems like it should be hotter? lots hotter
& I have the best credit in the world.

This is from Sales guy via email:

MSRP $47,739 ( I attached the window sticker)

Cap cost $45,739 ( Still honoring $500 better on the deal than current special like we said we'd do before) December to remember.

Money factory .00120

Residual after 27 months $33,417.30

$1,000 lease cash included

Upfront.....

$1,000.83 taxes
$549 tabs
$75 doc. fee
$6.00 plate fee
$30.75 title
$700 acquisition fee
$24 filing fee
$399.04 first month payment
$2,983 down payment

Total $5,767.62

After first month payment waver
$5,368.58 ( total out the door)

These are the best programs of the year! If you wanted to put more down at signing you could do something called a 1 pay lease and save a little money on doing that. It's still a lease but it's paid for upfront so you get a better rate. It's basically 1/4 % of interest.

tomax

I am looking at a 3 year 12K lease. Cost $50K with buy price around $46,800 before incentives.

What is current MF / residual value and current incentives? What would monthly payment look like with tax rolled in for NYC?

Thanks.

Michaell

tomax said:

I am looking at a 3 year 12K lease. Cost $50K with buy price around $46,800 before incentives.

What is current MF / residual value and current incentives? What would monthly payment look like with tax rolled in for NYC?

Thanks.

60% residual and .00050 for November 36/12.

If $50,000 is the MSRP and $46,800 the cap cost, I get a pre-tax payment of $505.07/mo for 36 months. Tax for a lease is calculated up front in NY and can be paid at lease inception or added to the cap cost.

heard006

Hello,

I am looking for MF & Residual on a 2015 Lexus RX 350 AWD with Premium. Term is 36/10 in Washington state. Also, can you get MF & Residual on the same config but with Navigation instead of Premium?

Thanks for the help!!

Michaell

heard006 said:

Hello,

I am looking for MF & Residual on a 2015 Lexus RX 350 AWD with Premium. Term is 36/10 in Washington state. Also, can you get MF & Residual on the same config but with Navigation instead of Premium?

Thanks for the help!!

.00050 and 61%. Specific options or packages do not affect the numbers.

tomax

Is there also the $700 or $1000 lease cash available & complimentary first payment included with the .0005 and 60% on the 36/12K lease?

Michaell

tomax said:

Is there also the $700 or $1000 lease cash available & complimentary first payment included with the .0005 and 60% on the 36/12K lease?

I show $1000 lease cash. Use the "Car Research" tab at the top of the page to get a list of customer incentives.

cityboy2

Hi Moderator,
Please correct me if I'm wrong.
When leasing a car (assuming good credit) MF, residual and MSRP are non-negotiable. The only room for negotiation left is a Cap. Cost. which in turn is basically a car sale price assuming 0% down. The lowest possible car sale price is an Invoice price which is also non-negotiable and can be easily found from a car dealer or on Edmunds.com. Usually you can negotiate a bit above this price. So whats left are the Incentives to buyer and/or dealer.
I think these incentives can/should be deducted from the Invoice price or "negotiated price" and that result would be a Cap.Cost.
Is this a correct?

Thanks.

Michaell

cityboy2 said:

Hi Moderator,
Please correct me if I'm wrong.
When leasing a car (assuming good credit) MF, residual and MSRP are non-negotiable. The only room for negotiation left is a Cap. Cost. which in turn is basically a car sale price assuming 0% down. The lowest possible car sale price is an Invoice price which is also non-negotiable and can be easily found from a car dealer or on Edmunds.com. Usually you can negotiate a bit above this price. So whats left are the Incentives to buyer and/or dealer.
I think these incentives can/should be deducted from the Invoice price or "negotiated price" and that result would be a Cap.Cost.
Is this a correct?

Thanks.

I agree with most of what you said. However, the MF can, and often is, inflated by the dealer for extra profit, so you want to ensure that your lease payment uses the base MF. MSRP and residual are fixed.

Negotiate the best selling price - for some cars this is actually below the 'invoice' price found on-line. Then, adjust for any available incentives (factory-to-customer or factory-to-dealer).

But, there are other costs involved. Acquisition fees are a part of every lease deal, and some states allow dealers to charge their own fees (up to $700 in some states!). Taxes are often collected up front in some states, and in 4 states at the moment (TX, IL, GA and MD), the entire purchase price is subjected to sales tax. There might also be license or tag fees the dealer collects for the state.

jay285

Michaell said:

jay285 said:

kyfdx said:

joesfl3 said:

Hi Michaell,

Can you please check Residual and MF for 36 month / 7.5k miles for 2015 RX 350 FWD?

Thanks!

.00050 MF and 62% residual. $1000 lease cash and complimentary 1st payment.

Michaell - Is the residual on a 36/15 2015 RX 350 FWD still 58%?

Also, can you please confirm the MF of .00050 and complementary 1st payment are new changes from Lexus this month. I started negotiating lease terms last month and wanted to get a dealer update if these are new changes this month. Thanks!

Confirm 58% residual for 36/15. Confirm .00050 MF.

On the .00050 MF, TX dealer said this was a decrement to their normal rate of .00145 - so they used .00140. Does this sound right?

Michaell

jay285 said:

Michaell said:

jay285 said:

kyfdx said:

joesfl3 said:

Hi Michaell,

Can you please check Residual and MF for 36 month / 7.5k miles for 2015 RX 350 FWD?

Thanks!

.00050 MF and 62% residual. $1000 lease cash and complimentary 1st payment.

Michaell - Is the residual on a 36/15 2015 RX 350 FWD still 58%?

Also, can you please confirm the MF of .00050 and complementary 1st payment are new changes from Lexus this month. I started negotiating lease terms last month and wanted to get a dealer update if these are new changes this month. Thanks!

Confirm 58% residual for 36/15. Confirm .00050 MF.

On the .00050 MF, TX dealer said this was a decrement to their normal rate of .00145 - so they used .00140. Does this sound right?

We don't have full numbers from Lexus this month, so it's hard to confirm or deny what the rates are in Texas.

mitch360

In October, my dealer told me that the MF was .00090 and residual was 61% with $700 lease cash on a 2015 FWD RX350 for 36 months and 10k/month. Yesterday, I asked him what changes were made for November and he said that only change was from $700 to $1000 lease cash. I asked if MF was reduced to .00050 and he said no. This is in NY. Was he correct on MF and residual for November?

Michaell

mitch360 said:

In October, my dealer told me that the MF was .00090 and residual was 61% with $700 lease cash on a 2015 FWD RX350 for 36 months and 10k/month. Yesterday, I asked him what changes were made for November and he said that only change was from $700 to $1000 lease cash. I asked if MF was reduced to .00050 and he said no. This is in NY. Was he correct on MF and residual for November?

There are usually multiple sets of numbers from Lexus each month .. for some reason, we only received some of them in November. Cannot confirm what the MF is for NY.

I can confirm the 61% residual for 36/10, however.

scapula

What would a 'good' deal be for Maryland 2015 rx350, premium package for 10K, no money down, all costs included monthly payment? Is 540 reasonable?

broker33

Hi I'm looking for the current MF and residual for RX 350 in Fort Lauderdale. 3yr/ 12K lease. Thanks in advance.

Michaell

scapula said:

What would a 'good' deal be for Maryland 2015 rx350, premium package for 10K, no money down, all costs included monthly payment? Is 540 reasonable?

Not enough information to really say. We need to know both the MSRP and the negotiated selling price. Also, what lease term - 24, 27, 36 months?

We don't have all the numbers this month from Lexus, so even with the price information, any payment modeling will still be a bit of a guess.

Michaell

broker33 said:

Hi I'm looking for the current MF and residual for RX 350 in Fort Lauderdale. 3yr/ 12K lease. Thanks in advance.

MF is elusive this month ... the only number we have is for IL, and it seems that number is only valid in that state. If I were to guess, the MF this month is probably around .00090 to .00105.

36/12 residual is 60%.

broker33

Thanks Michaell.

Heres what I've got on the table at the momen in SFL:

MSRP = $50730

$48866.18 (Sale Price) - $3,091.85 in trade equity = $45,774.33 Cap Cost

27 mos / MF 0.00090 / residual .70

Dealer's monthly payment calc is $459 Per month and mine is $453.28 (close enough I suppose).

Anyway to improve further? I'm guessing my trade is paying down Cap Cost - should I use that extra security deposits instead?

I really appreciate your help and guidance - thank you!

jessica2011

MSRP 50730
Selling Price 48866

You can probably get a lower selling price. Read through the threads, people are getting 4 to 5 thousand off MSRP without a trade in.  

Security deposits are a good idea but you got to do the math first.  In my case it made sense, my monthly lease dropped 50 dollars with the max security deposits. Only a high risk investment could get me those kind of returns. With the current MF at .00090 the savings will not be as large (my original MF was .00105 back in July)

Michaell

broker33 said:

Thanks Michaell.

Heres what I've got on the table at the momen in SFL:

MSRP = $50730

$48866.18 (Sale Price) - $3,091.85 in trade equity = $45,774.33 Cap Cost

27 mos / MF 0.00090 / residual .70

Dealer's monthly payment calc is $459 Per month and mine is $453.28 (close enough I suppose).

Anyway to improve further? I'm guessing my trade is paying down Cap Cost - should I use that extra security deposits instead?

I really appreciate your help and guidance - thank you!

I can't speak to whether you can do better on the sell price, but @jessica2011‌ makes a valid point.

And, you should run the math yourself on whether it makes more sense to use the trade equity as cap cost reduction or MSD.

broker33

Thanks for your comments Jessica. I was thinking like you that a lower selling price could be achievable. I also appreciate your analogy to High Risk Investment & Return so I ran a quick spread of the MF pay down via extra security thru 9 payments to understand how that looks (used 0.00008 for every 500 in security). Very helpful exercise.

This thread has been incredibly helpful - thank you!

techynyc

Hi,

I am looking to lease a RX350 F Sport model. Can you tell me what the MF and residual for 24/12, 27/12, and 36/12. I am based in Long Island, New York and can I pay the taxes upfront or will it be rolled into my monthly lease payments? Also is it realistically of me to get a deal for a F Sport for $500 or less per month? I know its based on alot of factors etc. so thats a tough question to answer. This forum has been awesome! Thank you in advance!

Michaell

techynyc said:

Hi,

I am looking to lease a RX350 F Sport model. Can you tell me what the MF and residual for 24/12, 27/12, and 36/12. I am based in Long Island, New York and can I pay the taxes upfront or will it be rolled into my monthly lease payments? Also is it realistically of me to get a deal for a F Sport for $500 or less per month? I know its based on alot of factors etc. so thats a tough question to answer. This forum has been awesome! Thank you in advance!

Residual is 70% / 68% / 60%.

MF is unknown, but probably .00100 give or take.

Yes, you can pre-pay your sales tax at lease inception in NY.

We would need to know the MSRP and negotiated selling price in order to model a payment. Read back a page or two in this discussion to see what others have paid.

techynyc

Michaell said:

techynyc said:

Hi,

I am looking to lease a RX350 F Sport model. Can you tell me what the MF and residual for 24/12, 27/12, and 36/12. I am based in Long Island, New York and can I pay the taxes upfront or will it be rolled into my monthly lease payments? Also is it realistically of me to get a deal for a F Sport for $500 or less per month? I know its based on alot of factors etc. so thats a tough question to answer. This forum has been awesome! Thank you in advance!

Residual is 70% / 68% / 60%.

MF is unknown, but probably .00100 give or take.

Yes, you can pre-pay your sales tax at lease inception in NY.

We would need to know the MSRP and negotiated selling price in order to model a payment. Read back a page or two in this discussion to see what others have paid.

Thank you very much! You were absolutely right to go back and read as I found a wealth of info related to F sport deals. Also do you know if Lexus uses Auto-Enhanced FICO scores or just your regular FICO score?

Michaell

techynyc said:

Michaell said:

techynyc said:

Hi,

I am looking to lease a RX350 F Sport model. Can you tell me what the MF and residual for 24/12, 27/12, and 36/12. I am based in Long Island, New York and can I pay the taxes upfront or will it be rolled into my monthly lease payments? Also is it realistically of me to get a deal for a F Sport for $500 or less per month? I know its based on alot of factors etc. so thats a tough question to answer. This forum has been awesome! Thank you in advance!

Residual is 70% / 68% / 60%.

MF is unknown, but probably .00100 give or take.

Yes, you can pre-pay your sales tax at lease inception in NY.

We would need to know the MSRP and negotiated selling price in order to model a payment. Read back a page or two in this discussion to see what others have paid.

Thank you very much! You were absolutely right to go back and read as I found a wealth of info related to F sport deals. Also do you know if Lexus uses Auto-Enhanced FICO scores or just your regular FICO score?

I don't know which score LFS uses to determine credit tier.

kyfdx

.00090 appears to be the money factor for the RX350, in most of the country, this month.

mitch360

Finally able to use the $2000 loyalty certificate sent by Lexus due to expire Nov. 15. Also used $1000 lease December to Remember rebate. Just picked up a 2015 FWD RX350 with : heated and ventilated front seats; intuitive parking assist; premium package with blind spot; wood and leather steering wheel, cargo mat, net, and wheel locks in obsidian with tan interior. MSRP is $46,189. Payments are $439/month for 36 months/ 10k. Upfront costs are $ 2500 : including taxes; first month payment; acquisition fee; dealer and DMV fees. Upfront costs were originally $3000 but dealer gave $500 discount for returning customer. Dealer also made last 4 payments on my present 2012 RX350 lease.

Michaell

mitch360 said:

Finally able to use the $2000 loyalty certificate sent by Lexus due to expire Nov. 15. Also used $1000 lease December to Remember rebate. Just picked up a 2015 FWD RX350 with : heated and ventilated front seats; intuitive parking assist; premium package with blind spot; wood and leather steering wheel, cargo mat, net, and wheel locks in obsidian with tan interior. MSRP is $46,189. Payments are $439/month for 36 months/ 10k. Upfront costs are $ 2500 : including taxes; first month payment; acquisition fee; dealer and DMV fees. Upfront costs were originally $3000 but dealer gave $500 discount for returning customer. Dealer also made last 4 payments on my present 2012 RX350 lease.

Solid deal! Enjoy....

mohauwk

I have following offers: 2015 RX350 AWD(COMFORT+PREMIUM/BLDSPOT+INTUTIVE PARK ASSIST)
STATE: VIRGINIA

LEASE OFFER
DOWN : 2000$
MONTHS: 27mos(1 month Complimentary)
TOTAL: 12050$
RESIDUAL PRICE: 32846$(77%)
TOTAL PRICE: 44896$
MONTHLY PAYMENT: 386.56$

BUY OUTRIGHT OFFER
DOWNPAYMENT: 0$
MONTHS: 60 mos
TOTAL: 44808$ ( Including all prices)
MONTHLY PAYMENT: 746.12$

Not sure if the entire deal is a good one, or should I negotiate more?
And cannot decide if LEASE is better or Buy it?

ANY HELP IS APPPRECIATED

Michaell

mohauwk said:

I have following offers: 2015 RX350 AWD(COMFORT+PREMIUM/BLDSPOT+INTUTIVE PARK ASSIST)
STATE: VIRGINIA

LEASE OFFER
DOWN : 2000$
MONTHS: 27mos(1 month Complimentary)
TOTAL: 12050$
RESIDUAL PRICE: 32846$(77%)
TOTAL PRICE: 44896$
MONTHLY PAYMENT: 386.56$

BUY OUTRIGHT OFFER
DOWNPAYMENT: 0$
MONTHS: 60 mos
TOTAL: 44808$ ( Including all prices)
MONTHLY PAYMENT: 746.12$

Not sure if the entire deal is a good one, or should I negotiate more?
And cannot decide if LEASE is better or Buy it?

ANY HELP IS APPPRECIATED

There are lots of opinions about lease vs. buy. How long do you normally keep your cars? How many miles a year do you drive? Do you take good care of your cars?

All of these questions, and more, will help determine if a lease is right for you.

mohauwk

Michaell said:

I have following offers: 2015 RX350 AWD(COMFORT+PREMIUM/BLDSPOT+INTUTIVE PARK ASSIST) STATE: VIRGINIA LEASE OFFER DOWN : 2000$ MONTHS: 27mos(1 month Complimentary) TOTAL: 12050$ RESIDUAL PRICE: 32846$(77%) TOTAL PRICE: 44896$ MONTHLY PAYMENT: 386.56$ BUY OUTRIGHT OFFER DOWNPAYMENT: 0$ MONTHS: 60 mos TOTAL: 44808$ ( Including all prices) MONTHPAYMENT: 746.12$ Not sure if the entire deal is a good one, or should I negotiate more? And cannot decide if LEASE is better or Buy it? ANY HELP IS APPPRECIATED

There are lots of opinions about lease vs. buy. How long do you normally keep your cars? How many miles a year do you drive? Do you take good care of your cars? All of these questions, and more, will help determine if a lease is right 


I drive abt 10k and take good care of the cars?
of the vehicle.
just wanted to see if the buyout price was good.

jessica2011

If your total lease payments of 12050 for 27 months include the original 2000 down payment and acquisition fee (which I think they do) and you purchase the vehicle at the end of the lease for 32846, your cost is 44896, which is only 88 more then if you purchase it now. If that is correct then leasing is the better option for you if you change cars every three years or so. 

I am am assuming you will pay cash upfront at the end of the lease to purchase the car at the buy out price.  If you will finance instead, then my argument below will lose some weight. 

Bare in mind your insurance will be higher if you lease, assuming you go cheaper on the insurance when you own. 

The main advantage to leasing is if you should be involved in an accident which brings down the value of the vehicle. With leasing Lexus takes the loss in value (gap insurance) while if you own it you will lose value when you try to sell it (higher depreciation) 

Assuming no accidents, if the vehicle is in great condition at the end of the lease and/or if you are way under in allowed miles, you can go to area Lexus dealers and sell them the car for a higher price then the buyout price, and get trade credit for another vehicle.Yes, you can have equity in a leased vehicle. 

You will also not have to worry about going over your mileage restrictions during your lease if you are going to buy it and the end of the lease. 

those are just three bonuses of leasing in your situation. Read up online and most people will tell you to buy and not lease and they make good points. But if the difference is only 80 bucks or so I think this is a no brainer. Think if it as spending the extra 80 dollars to try out the vehicle for 27 months before deciding to buy it with the added protection against loss if you get in an accident. A great value for 80 bucks.

mohauwk

Thanks for the valuable feedback. I guess I will definetly lease then.
Just another question if the Lease terms are good.