2015 Lexus NX Lease Questions

lethean

What's the money factor and residual for this deal?

36mo/12,000miles
39mo/12,000miles

Dealer offered me this

2015 NX200T F-Sport AWD

MSRP - $47,220
Selling for - $43646

36/12 - 575.26
39/12 - 563.62

What's the consensus?

kyfdx

lethean said:

What's the money factor and residual for this deal?

36mo/12,000miles
39mo/12,000miles

Dealer offered me this

2015 NX200T F-Sport AWD

MSRP - $47,220
Selling for - $43646

36/12 - 575.26
39/12 - 563.62

What's the consensus?

.000115 MF and 62%/60% residual. Complimentary 1st payment.

$483/mo.
$475/mo.

Of course, we don't know what else has been added to the selling price, or taxes, or any other info... that's just the payment using the parameters given.

lethean

Taxes is 7.00% Also I forgot to mention that I have a college grad rebate which should be 1,000 right? I graduate in the next 5 months! I'm guessing the boosted up the money factor

eyemd2010

kyfdx, isn't the money factor 0.00115?

I think your calculated monthly payment is lower because of this.(lethean's quote seems more accurate as far as the monthly payment for a $43,646 car)

kyfdx said:

lethean said:

What's the money factor and residual for this deal?

36mo/12,000miles
39mo/12,000miles

Dealer offered me this

2015 NX200T F-Sport AWD

MSRP - $47,220
Selling for - $43646

36/12 - 575.26
39/12 - 563.62

What's the consensus?

.000115 MF and 62%/60% residual. Complimentary 1st payment.

$483/mo.
$475/mo.

Of course, we don't know what else has been added to the selling price, or taxes, or any other info... that's just the payment using the parameters given.

kyfdx

Re-read the post.. It's stated that the MF is .00115.
Also, I noted that I didn't include tax or any other fees, as those weren't disclosed in the original post.

My numbers are exact, given the information provided. We try not to guess (unless we say we are guessing. )

eyemd2010 said:

kyfdx, isn't the money factor 0.00115?

I think your calculated monthly payment is lower because of this.(lethean's quote seems more accurate as far as the monthly payment for a $43,646 car)

kyfdx said:

lethean said:

What's the money factor and residual for this deal?

36mo/12,000miles
39mo/12,000miles

Dealer offered me this

2015 NX200T F-Sport AWD

MSRP - $47,220
Selling for - $43646

36/12 - 575.26
39/12 - 563.62

What's the consensus?

.000115 MF and 62%/60% residual. Complimentary 1st payment.

$483/mo.
$475/mo.

Of course, we don't know what else has been added to the selling price, or taxes, or any other info... that's just the payment using the parameters given.

eyemd2010

Hey thanks for your help kdyfx. You had three 0s 0.000115 vs 0.00115. When I put in his numbers through multiple online lease calculators (including edmunds') I get a higher number. 

Im pulling the trigger on a lease soon 

Michaell

eyemd2010 said:

Hey thanks for your help kdyfx. You had three 0s 0.000115 vs 0.00115. When I put in his numbers through multiple online lease calculators (including edmunds') I get a higher number. 

Im pulling the trigger on a lease soon 

Whoops, typo. Yes, the MF is .00115 for the NX (two 0's)

lethean

Based on my calculations the money factor they are giving me is about 0.00190. With my $1000 grad rebate my payment should be about 36/12 $543.59/MO I still feel is still high... What do you guys think?

Michaell

lethean said:

Based on my calculations the money factor they are giving me is about 0.00190. With my $1000 grad rebate my payment should be about 36/12 $543.59/MO I still feel is still high... What do you guys think?

I think it's time to start working with another Lexus dealer, if they are marking up the MF that much.

lethean

I think they told me that since i am a first time leaser, they have no choice but to leave the money factor high. When i asked what tier i fall into, or my score they said they didn't have that information. Because Toyota financial only gives a thumbs up or down. I asked for a copy of my credit report and they said the same thumbs up or down. Is this true?

Michaell

lethean said:

I think they told me that since i am a first time leaser, they have no choice but to leave the money factor high. When i asked what tier i fall into, or my score they said they didn't have that information. Because Toyota financial only gives a thumbs up or down. I asked for a copy of my credit report and they said the same thumbs up or down. Is this true?

It might be, but I'd be wary of them hiding the information from you. You have a right to your annual credit score from each of the bureaus, all you have to do is go on-line or call to request.

And, you may want to reach out to a second Lexus dealer and see if you get a similar story from them.

champs9900

Not true from my experience. 

lethean

I have no idea how to get this money factor down. So far 3 dealerships are going with the 0.00190! when i tell them about the 0.00115 they stop responding. maybe i'm being unreasonable but what's an acceptable money factor? They never mention MSD. How much do i have to put down to lower the MSD? what's the standard?

Michaell

lethean said:

I have no idea how to get this money factor down. So far 3 dealerships are going with the 0.00190! when i tell them about the 0.00115 they stop responding. maybe i'm being unreasonable but what's an acceptable money factor? They never mention MSD. How much do i have to put down to lower the MSD? what's the standard?

.00115 is the base rate - explain to them that you aren't interested in signing any deal that has an inflated MF. The dealers know what that rate is - you don't have to negotiate for it.

MSD lowers your MF by .00008; each MSD is the monthly payment rounded up to the next $50.

lethean

Getting close to a deal here. However I have a question about the college rebate program for $1000

I read this "applied towards the Amount Due at Lease Signing or Delivery. "

1.MSRP - 45,533
2.Invoice - 43000 ? Not sure if that's right because I get $42,377
3 MF .00115
4 36/12 @ 7% Tax
5 $509/Mo

•TOT INIT PMT 2,508 (College rebate, complimentary first month payment, and my own $1000)

I offered to pay the acquisition fee, tax & registration up front so I told him my money up front would be $1000. However, I also qualify for the college rebate of $1000. I asked him if I could use that towards the price of the car and he said no. It goes towards fees etc. So could I use this rebate to pay the aqusition fees, govt fees, doc fees, title & registration fees? and save my $1000 down? I Have no idea what If I have a choice how to use this rebate.

wche1

Hey, I'm located in NYC. Can you please give me the MF and Residual for 27 months, 12k? Thanks

kyfdx

lethean said:

Getting close to a deal here. However I have a question about the college rebate program for $1000

I read this "applied towards the Amount Due at Lease Signing or Delivery. "

1.MSRP - 45,533
2.Invoice - 43000 ? Not sure if that's right because I get $42,377
3 MF .00115
4 36/12 @ 7% Tax
5 $509/Mo

•TOT INIT PMT 2,508 (College rebate, complimentary first month payment, and my own $1000)

I offered to pay the acquisition fee, tax & registration up front so I told him my money up front would be $1000. However, I also qualify for the college rebate of $1000. I asked him if I could use that towards the price of the car and he said no. It goes towards fees etc. So could I use this rebate to pay the aqusition fees, govt fees, doc fees, title & registration fees? and save my $1000 down? I Have no idea what If I have a choice how to use this rebate.

If this is the deal, and you don't want to put the $1000 down, then that money will be in the CAP cost and your payment will go up by $28/mo. They can certainly structure it that way.

Also, invoice doesn't mean anything in the calculation. What matters is selling price and CAP cost.

Michaell

wche1 said:

Hey, I'm located in NYC. Can you please give me the MF and Residual for 27 months, 12k? Thanks

.00115 and 69%

lethean

Is mine a good deal? or should i keep looking?

Michaell

lethean said:

Is mine a good deal? or should i keep looking?

We would need to know the selling price you negotiated in order to fully evaluate.

lethean

It's 43,000 Selling price Invoice according to him is $43,137.

According to the internet i'm getting invoice at $42,377

Michaell

lethean said:

It's 43,000 Selling price Invoice according to him is $43,137.

According to the internet i'm getting invoice at $42,377

Not the same thing .. the invoice price is a number used by the dealer to explain how much they paid for the car. The selling price is the price you negotiate.

Use the tools at the top of the page to help you figure out what a good selling price should be ... make / model / year pull downs.

lethean

Ok maybe this is it. I added everything up from the lease quote sheet they gave me and it totaled up to be $44,872.88

MISC info
Total Rebates - $1508
Out of Pocket - $1000


I didn't add the acquisition fee or registration info on that price.

Michaell

lethean said:

Ok maybe this is it. I added everything up from the lease quote sheet they gave me and it totaled up to be $44,872.88

MISC info
Total Rebates - $1508
Out of Pocket - $1000


I didn't add the acquisition fee or registration info on that price.

Are you paying those items up front?

As is, I get $546.36/mo with your numbers.

lethean

The fees listed on the lease sheet is what i'm going to pay,

Govt fees - $221
Doc fee - $168.43
(Not listed) Acquisition fee - $700
(Not listed) Title & Registration - $198
Total Taxes - $1483.45 (I want that rolled in my payment.)

Total fee's listed on my lease sheet = $1872.88

mgb05e

Can you provide the MF and Residual in South Florida for 36 months & 10kmiles?

kyfdx

mgb05e said:

Can you provide the MF and Residual in South Florida for 36 months & 10kmiles?

.00115 MF and 63% residual. Complimentary 1st payment.

wche1

Are they still waiving 1st month payment? Any other incentiveS?

kyfdx

wche1 said:

Are they still waiving 1st month payment? Any other incentiveS?

Yes.. and no.

mgb05e

Is MF .0015 the minimum or can it improve if credit is good? 

Michaell

mgb05e said:

Is MF .0015 the minimum or can it improve if credit is good? 

.00115 is the base MF ... can't get any better than that without using multiple security deposits.

skim010

What is the MF and Residual for 36mo, 12k and 15k on NX 200t F-sport? I'm in Southern California. I'm looking at lexus.com and don't know why I don't see any current offers anymore down here? I thought the sale was until the end of August?

Michaell

skim010 said:

What is the MF and Residual for 36mo, 12k and 15k on NX 200t F-sport? I'm in Southern California. I'm looking at lexus.com and don't know why I don't see any current offers anymore down here? I thought the sale was until the end of August?

.00115 and 60% for 36/15; add 2% for 12K. First payment complimentary.

skim010

Michaell said:

skim010 said:

What is the MF and Residual for 36mo, 12k and 15k on NX 200t F-sport? I'm in Southern California. I'm looking at lexus.com and don't know why I don't see any current offers anymore down here? I thought the sale was until the end of August?

.00115 and 60% for 36/15; add 2% for 12K. First payment complimentary.

Thanks Michaell. Any way to confirm if it's valid for today in SoCal? I have an appointment to go lease an NX today.

Michaell

skim010 said:

What is the MF and Residual for 36mo, 12k and 15k on NX 200t F-sport? I'm in Southern California. I'm looking at lexus.com and don't know why I don't see any current offers anymore down here? I thought the sale was until the end of August?

.00115 and 60% for 36/15; add 2% for 12K. First payment complimentary.

Thanks Michaell. Any way to confirm if it's valid for today in SoCal? I have an appointment to go lease an NX today.

 I think the Lexus numbers are good through the end of September 

eyemd2010

What is the MF and residual for the 2015 NX 200t FWD 12k/36 for August?

  Thanks in advance!

Michaell

eyemd2010 said:

What is the MF and residual for the 2015 NX 200t FWD 12k/36 for August?

  Thanks in advance!

Lexus numbers are good until September.

.00115 and 62%. First month complimentary.

Kirstie_H

A reporter is looking to talk with a Millennial (age 18-34) who leased a luxury car within the last year. If you're able to help, please send your details to [email protected] by no later than August 4, 2015.

vyunger

Hi what is NX 200t AWD residual and MF for 36/10K in NJ? Thank you

kyfdx

vyunger said:

Hi what is NX 200t AWD residual and MF for 36/10K in NJ? Thank you

.00115 MF and 63% residual. Complimentary 1st payment

wche1

Are the posted MF for tier 1 credit? Or will it better lower with better credit

Michaell

wche1 said:

Are the posted MF for tier 1 credit? Or will it better lower with better credit

That is the base rate with tier 1+ credit. Can't get any lower than that unless you use MSD to buy down the MF.

mikewillmadeit

Hi all. Does anyone know the MF and residual amount on 36mo 12k and 10k in NYC? Also does all lexus dealerships do this first month complimentary that was mentioned a couple times on this page. I plan on going to lexus of Manhattan tomorrow. Also its possible to get around a 500 mo payment with 0$ down?

kyfdx

mikewillmadeit said:

Hi all. Does anyone know the MF and residual amount on 36mo 12k and 10k in NYC? Also does all lexus dealerships do this first month complimentary that was mentioned a couple times on this page. I plan on going to lexus of Manhattan tomorrow. Also its possible to get around a 500 mo payment with 0$ down?

.00115 MF and 62%/63% residual.

Yes, the complimentary 1st payment is nationwide.

lethean

I was lucky enough to finally lease an NX200T F sport. However, 7 days later I recieve a call from the finance manager saying I need to come in and out down $2500. Stunned and heartbroken I Told the finance manager I did not want to do that and is there anything they can do. They said they'll call me back later. The next day I receive a call saying they're going to help me out and all I have to do it put down 1300 to lower my payment to $425. I still don't want to do that but what do you guys think?

kyfdx

lethean said:

I was lucky enough to finally lease an NX200T F sport. However, 7 days later I recieve a call from the finance manager saying I need to come in and out down $2500. Stunned and heartbroken I Told the finance manager I did not want to do that and is there anything they can do. They said they'll call me back later. The next day I receive a call saying they're going to help me out and all I have to do it put down 1300 to lower my payment to $425. I still don't want to do that but what do you guys think?

Have you taken delivery of the vehicle? If so, tell them you won't pay any more. That if they can't execute the contract, you will bring the vehicle back and unwind the deal.

lethean

I already have the car in my possession for 8 days & put 100 miles on it so far.  I  signed a spot waiver so They could take the car. However, I rejected their first attempt to collect 2500 from me and now they somehow reduced it to 1300. 

Michaell

lethean said:

I already have the car in my possession for 8 days & put 100 miles on it so far.  I  signed a spot waiver so They could take the car. However, I rejected their first attempt to collect 2500 from me and now they somehow reduced it to 1300. 

You have a signed contract ... and possession of the car. As my co-host pointed out, the dealer has two options at this point:

1. Honor the original contract
2. Unwind the entire deal ... you return the car to the dealer and the contract is considered null and void.

kyfdx

lethean said:

I already have the car in my possession for 8 days & put 100 miles on it so far.  I  signed a spot waiver so They could take the car. However, I rejected their first attempt to collect 2500 from me and now they somehow reduced it to 1300. 

Just tell them if they can't stick to the terms, you'll bring the car back.. (but, you might have to)

lethean

I'm going to call toyota finance and see if the dealer got funded or if i actually have an account. If i do that means they could be asking for more money