2015 Lexus NX Lease Questions

sperkins921

Thanks,
Same values for 36/12?

Michaell

sperkins921 said:

Thanks,
Same values for 36/12?

61% residual ... same MF

lexusonu

Thanks for the help.
Looking to pull the trigger on an NX F-sport with NAV.
$508 a month (sales tax included). 35 payments.
0 down. 61%. 0.0013. 36 / 12....Cap: $41487. MSRP: $45100.
I believe it's an awesome deal. Any thoughts please ? Thank you

Michaell

lexusonu said:

Thanks for the help.
Looking to pull the trigger on an NX F-sport with NAV.
$508 a month (sales tax included). 35 payments.
0 down. 61%. 0.0013. 36 / 12....Cap: $41487. MSRP: $45100.
I believe it's an awesome deal. Any thoughts please ? Thank you

I get $478/mo before tax with those numbers, so $508/mo seems about right if the tax rate is 6-6.5%

lexusonu

6.5 % indeed.  Can i do better ?

Michaell

lexusonu said:

6.5 % indeed.  Can i do better ?

I don't track selling prices. You can also use MSD to buy down the MF

lexusonu

I see. What's the maximum  MSDs i can use on a Lexus, and by how much does it bring down my MF ?
Also, are MSDs completely returned to me as long as i don't default on the loan ? Or is LFS going to find some scratches on my car (for example) and try to keep some of those deposits. 
Your help is greatly appreciated  !!

Michaell

lexusonu said:

I see. What's the maximum  MSDs i can use on a Lexus, and by how much does it bring down my MF ?
Also, are MSDs completely returned to me as long as i don't default on the loan ? Or is LFS going to find some scratches on my car (for example) and try to keep some of those deposits. 
Your help is greatly appreciated  !!

I believe that Lexus allows 9 MSD, each of which reduce the MF by .00008.

Usually you'll get the entire amount back.

lexusonu

Thank you. According to your numbers and my math, payments should drop to $455 a month (using max MSDs), savings of $52 a month, or $1908 over 3 years. Am i wrong somewhere or is it really a great way to invest money indirectly  ?

Michaell

lexusonu said:

Thank you. According to your numbers and my math, payments should drop to $455 a month (using max MSDs), savings of $52 a month, or $1908 over 3 years. Am i wrong somewhere or is it really a great way to invest money indirectly  ?

Yep, invest $4500 up front and get a return of about 15% per year. With no risk.

lexusonu

Spoke to a finance guy at the dealership. He claims MSDs only lower money factors by .000072 instead of the .00008 you mentioned. Your thoughts please. Thank you

lexusonu

He also said you don't get all the MSDs back if there is excessive wear and tear. Rather, you get the difference after they "fix" all issues. He suggested an insurance for $875 that covers up to $7500 of repair / replacements of tires, paint...
Again, your thoughts please. Thank you

Michaell

lexusonu said:

Spoke to a finance guy at the dealership. He claims MSDs only lower money factors by .000072 instead of the .00008 you mentioned. Your thoughts please. Thank you

Yes, 9 MSDs at .00008 each is .00072 total reduction.

lexusonu said:

He also said you don't get all the MSDs back if there is excessive wear and tear. Rather, you get the difference after they "fix" all issues. He suggested an insurance for $875 that covers up to $7500 of repair / replacements of tires, paint...
Again, your thoughts please. Thank you

If you take good care of your vehicles, there shouldn't be any "excessive" wear and tear. Lexus Financial assumes there will be some wear and tear after 3 years. Pass on the insurance policy - highly profitable for the dealer.

kyfdx

lexusonu said:

He also said you don't get all the MSDs back if there is excessive wear and tear. Rather, you get the difference after they "fix" all issues. He suggested an insurance for $875 that covers up to $7500 of repair / replacements of tires, paint...
Again, your thoughts please. Thank you

The lease end charges are the same, regardless of deposit. So, even if you made no deposit, if you owe $1000, you owe $1000. He is trying to scare you into purchasing an expensive insurance policy.

The independent inspection of your car at lease end? The inspector doesn't even know the amount of your deposit, and gives you a report, right then. No games.

lexusonu

Great info from you guys. Can't thank you enough  !!

lexusonu

Hi. Are MSDs rounded up to the nearest 50 before or after tax ? Thank you

kyfdx

lexusonu said:

Hi. Are MSDs rounded up to the nearest 50 before or after tax ? Thank you

After tax. The actual payment.

simbaaa

Had a last minute change of heart. Was going with bmw but decided on the nx. Is anyone able to get invoice or below on these? There isn't too much info on prices paid since the car has only been out a relatively short amount of time.

simbaaa

Also, dealer is insisting that MF is 0.002. How can I tell/convince him otherwise?

Michaell

simbaaa said:

Also, dealer is insisting that MF is 0.002. How can I tell/convince him otherwise?

Politely but firmly explain to the dealer that you won't sign a deal with an inflated MF .. they know what the base rate is.

And, reach out to other Lexus dealers ... only takes one to make a deal on your terms.

lexusonu

simbaaa said:

Had a last minute change of heart. Was going with bmw but decided on the nx. Is anyone able to get invoice or below on these? There isn't too much info on prices paid since the car has only been out a relatively short amount of time.

I got mine last night. MSRP was around $45.5 K, and cap cost around $41.5 K. See my exact numbers above. They honored MF of .00130. Better yet, i used 9 MSDs, and my payment is only $454, sign an drive

lexusonu

Thank you very much Michaell and kyfdx for your help the last few days. I got the car last night. My payments before MSDs were going to be $508 a month, so i figured each MSD would be $550. But for some reason, MSDs were only $460 each, and my payment dropped to $454. Of course i did not complain. I signed and left with my new NX.
So, thank you again !!

Michaell

lexusonu said:

Thank you very much Michaell and kyfdx for your help the last few days. I got the car last night. My payments before MSDs were going to be $508 a month, so i figured each MSD would be $550. But for some reason, MSDs were only $460 each, and my payment dropped to $454. Of course i did not complain. I signed and left with my new NX.
So, thank you again !!

Congrats! Enjoy the new NX

simbaaa

Thank you, MIchael and Lexusonu. Lexusonu, sounds like you got a great deal. Fsport is a great car.

After speaking to several dealers and thinking it over, I think I'm going to wait a bit for the 2016. One of the dealers mentioned that they will probably be getting them sometime in November and combined with the Lexus' December to Remember promotion, I might be able to get a better deal then.

lexusonu

simbaaa said:

Thank you, MIchael and Lexusonu. Lexusonu, sounds like you got a great deal. Fsport is a great car. After speaking to several dealers and thinking it over, I think I'm going to wait a bit for the 2016. One of the dealers mentioned that they will probably be getting them sometime in November and combined with the Lexus' December to Remember promotion, I might be able to get a better deal then.

lexusonu

Simbaa, in my dealership, 2016 are already arriving and "leaving" quick. I suggest you keep talking to the Internet Sales specialist on a daily basis. They know exactly what and when cars are arriving. What made you change your mind regarding the BMW X3 if you don't mind me asking ?

sccrph323

Dealer is offering 2015 NX f-sport with Navi/premium package and BSM for $499/month (taxes incl)
terms: 36mo/10k
Msrp: $ 46896
Cap Cost: $ 42042
RV: $ 29075
MF: 0.0013
no money down, $1400 (dmv and bank fee) sign and drive

Should I be concerned that the RV is 69%? while i did some research and found it to be 62%, I know it lowers my monthly payments but is this a concern if I do not purchase the car at the lease end?

please advice and help.

kyfdx

sccrph323 said:

Dealer is offering 2015 NX f-sport with Navi/premium package and BSM for $499/month (taxes incl)
terms: 36mo/10k
Msrp: $ 46896
Cap Cost: $ 42042
RV: $ 29075
MF: 0.0013
no money down, $1400 (dmv and bank fee) sign and drive

Should I be concerned that the RV is 69%? while i did some research and found it to be 62%, I know it lowers my monthly payments but is this a concern if I do not purchase the car at the lease end?

please advice and help.

62% is the correct residual. .00130 MF is also correct.

I wouldn't worry about the residual, because that is obviously a typo... If it were actually 69%, your payment would be a lot lower. ($90/mo. lower).

Ask them for the actual residual, and it will all become clear, I think.

sccrph323

Thank you for the reply kyfdx. The actual residual is $29075 and the cap cost is $42042. I did the calculations myself and came up with 69%. Please correct me if I'm wrong, hence my confusion between the RV on this deal. Are these numbers equate to a descent lease offer for this car? 
Appreciate any input. 

kyfdx

sccrph323 said:

Thank you for the reply kyfdx. The actual residual is $29075 and the cap cost is $42042. I did the calculations myself and came up with 69%. Please correct me if I'm wrong, hence my confusion between the RV on this deal. Are these numbers equate to a descent lease offer for this car? 
Appreciate any input. 

Has to be something else going on, because if the residual is truly 69%, then the calculations won't lead you to that payment.

lb530529

Hi Kyfdx and Michael, please forgive me for all the questions below, but I am heading to a dealership today and would like to have as much information as possible beforehand.

Could you please provide the residual, mf and any incentives for the following cars:

2015 and 2016 NX 200t F-Sport?

The preferred term would be 36/10, but are there other offers in shorter month terms? 24, 33, etc...?

Finally, do you expect the 2015 model to be around for quite a bit more time or fair game at this point with the 2016 already out?

Thank you

Michaell

lb530529 said:

Hi Kyfdx and Michael, please forgive me for all the questions below, but I am heading to a dealership today and would like to have as much information as possible beforehand.

Could you please provide the residual, mf and any incentives for the following cars:

2015 and 2016 NX 200t F-Sport?

The preferred term would be 36/10, but are there other offers in shorter month terms? 24, 33, etc...?

Finally, do you expect the 2015 model to be around for quite a bit more time or fair game at this point with the 2016 already out?

Thank you

No 2016 numbers available yet for the NX

2015 36/10 - 62% and .00130

Yes, Lexus offers terms starting at 24 months, available in 3 month increments (27, 30, 33).

Not sure when the 2016's are supposed to hit the lot.

lb530529

Hi Michael, Thanks for the prompt reply. Would you be able to provide the same values for the 27, 30 and 33 terms?

Michaell

lb530529 said:

Hi Michael, Thanks for the prompt reply. Would you be able to provide the same values for the 27, 30 and 33 terms?

27/10 - 69%
30/10 - 67%
33/10 - 65%

lexusonu

kyfdx said:

Thank you for the reply kyfdx. The actual residual is $29075 and the cap cost is $42042. I did the calculations myself and came up with 69%. Please correct me if I'm wrong, hence my confusion between the RV on this deal. Are these numbers equate to a descent lease offer for this car? 
Appreciate any input. 

Has to be something else going on, because if the residual is truly 69%, then the calculations won't lead you to that payment.

% is calculated off Msrp, not negotiated price. I hope that helps clarifying

Michaell

lexusonu said:

kyfdx said:

sccrph323 said:

Thank you for the reply kyfdx. The actual residual is $29075 and the cap cost is $42042. I did the calculations myself and came up with 69%. Please correct me if I'm wrong, hence my confusion between the RV on this deal. Are these numbers equate to a descent lease offer for this car? 
Appreciate any input. 

Has to be something else going on, because if the residual is truly 69%, then the calculations won't lead you to that payment.

% is calculated off Msrp, not negotiated price. I hope that helps clarifying

That might be the source of the problem ... as noted, residual is calculated off the bottom line number of the window sticker (base MSRP + options + destination)

sccrph323

thank you for the clarification lexusonu, that makes the math work.

lexusonu said:

kyfdx said:

sccrph323 said:

Thank you for the reply kyfdx. The actual residual is $29075 and the cap cost is $42042. I did the calculations myself and came up with 69%. Please correct me if I'm wrong, hence my confusion between the RV on this deal. Are these numbers equate to a descent lease offer for this car? 
Appreciate any input. 

Has to be something else going on, because if the residual is truly 69%, then the calculations won't lead you to that payment.

% is calculated off Msrp, not negotiated price. I hope that helps clarifying

sccrph323

thank you michaell. first time really looking into the numbers in a lease. you guys are great help!

Michaell said:

lexusonu said:

kyfdx said:

sccrph323 said:

Thank you for the reply kyfdx. The actual residual is $29075 and the cap cost is $42042. I did the calculations myself and came up with 69%. Please correct me if I'm wrong, hence my confusion between the RV on this deal. Are these numbers equate to a descent lease offer for this car? 
Appreciate any input. 

Has to be something else going on, because if the residual is truly 69%, then the calculations won't lead you to that payment.

% is calculated off Msrp, not negotiated price. I hope that helps clarifying

That might be the source of the problem ... as noted, residual is calculated off the bottom line number of the window sticker (base MSRP + options + destination)

simbaaa

lexusonu said:

Simbaa, in my dealership, 2016 are already arriving and "leaving" quick. I suggest you keep talking to the Internet Sales specialist on a daily basis. They know exactly what and when cars are arriving.
What made you change your mind regarding the BMW X3 if you don't mind me asking ?

Lexusonu, I was looking at the 328 rather than the X3. The price matched up with the Nx but ultimately, I decided that I'd rather have an SUV.

brennonh

Hello!

Just started the process of looking at a '15 NX in Michigan. Dealer is quoting me MSRP of $45,419 for a NX F-Sport with a sale price of $43919, MF .0018, and residual of 64% for 30 months with 20k miles per year. $3500 down and payment is $683.70 - seems high? What do you think?

kyfdx

brennonh said:

Hello!

Just started the process of looking at a '15 NX in Michigan. Dealer is quoting me MSRP of $45,419 for a NX F-Sport with a sale price of $43919, MF .0018, and residual of 64% for 30 months with 20k miles per year. $3500 down and payment is $683.70 - seems high? What do you think?

The money factor is marked up from the .00130 base rate, and that residual is for 15K/yr. To get 20K/yr, either the residual is reduced or the mileage is paid for upfront.. Either way, that extra 12.5K miles adds a whole lot to the payment. Plus, only $1500 off MSRP.

Not a great deal, I don't think.

brennonh

Thanks for the quick reply! I'm new to this game! How would you recommend responding to the Dealer on their quote? They've got a fair number of '15s that they want to move, so they say they are ready to negotiate.

Michaell

brennonh said:

Thanks for the quick reply! I'm new to this game! How would you recommend responding to the Dealer on their quote? They've got a fair number of '15s that they want to move, so they say they are ready to negotiate.

First, politely tell them you won't sign any deal that includes a marked up MF.

Second, Lexus charges .20/mile for extra miles - this amount is deducted from the calculated residual. That's $2500, or $83/mo on a 30 month lease.

Use the 'make / model / year' pull downs at the top of the page to link to Edmunds' pricing tools - that should get you started on what price to offer.

brennonh

Well, that dealer did not take my comments on the MF well - received a book of an email explaining why they mark it up. 

Good news is I went to another dealer about 60 miles away, who seemed more direct/transparent.

What do you think of this deal?

MSRP: $46,875
MF: .0013
36/months and 20k miles per year
Cash down: $4,500
Payment: $605

Michaell

brennonh said:

Well, that dealer did not take my comments on the MF well - received a book of an email explaining why they mark it up. 

Good news is I went to another dealer about 60 miles away, who seemed more direct/transparent.

What do you think of this deal?

MSRP: $46,875
MF: .0013
36/months and 20k miles per year
Cash down: $4,500
Payment: $605

What's the breakdown of the $4500?

What's the selling price?

The extra 15,000 miles you want add $83/mo to the payment.

sperkins921

I saw earlier on this thread mention of paying MSD's to bring down the monthly payment and somehow getting them back at the end of the lease. Can someone explain to me what an MSD actually is, how much they are, why/how you get them back, etc? From what I'm seeing it looks like a security deposit, but I wasn't sure if that's what it truly was. Never paid one before for a car; but wanted to know all the options...

Thanks guys!

Michaell

sperkins921 said:

I saw earlier on this thread mention of paying MSD's to bring down the monthly payment and somehow getting them back at the end of the lease. Can someone explain to me what an MSD actually is, how much they are, why/how you get them back, etc? From what I'm seeing it looks like a security deposit, but I wasn't sure if that's what it truly was. Never paid one before for a car; but wanted to know all the options... Thanks guys!

 MSD stands for multiple security deposits.  Each one is the size of the monthly payment rounded up to the next highest $50.  Lexus allows as many as nine, with each one reducing the money factor by .00008 

lb530529

Is lexus already doing the December to remember sale event or are the November numbers only good until the end of the month?

kyfdx

lb530529 said:

Is lexus already doing the December to remember sale event or are the November numbers only good until the end of the month?

Just good through November 30th

delnole

Can you tell me what the November MF and Residual is for a 2015 NX200t? I'm looking for 36/12 and 36/15. I believe the 2016's will be coming out this month. Any idea if the MF and Residual will be the same? Thanks.