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Lease Payment Calculation for RC350

jazz21jazz21 Posts: 5
edited February 2015 in Lexus
Hi: I live in Northern Virginia and am in the market for a Lexus RC350 F Sport, with Nav, and moon roof. Dealer is stating selling price of $52,830 offering $1999 discount for final of $50,831. Tax, tag, prep fee etc adds another $3400, for a total of $54,221. He is quoting me a lease payment of $669 per month (if I pay the $3400) for 36 months and 10k miles per year. Based on my calculation. the residual is coming to 47% of original price of $50831, which doesn't add up.

I've been reading up in the posts and see residuals ranging from 60% to 75%. Not sure what MF I should be using and what the calculations look like.

Any thoughts/ideas/suggestions would be most welcome. Its extremely hard to figure out the best deals, because each dealer puts a twist.

Any sites that I can visit to find out the best lease deals across the US?

Comments

  • I finally got the numbers from the dealer today - here they are.

    MF - 0.00170
    Residual - 65% for 36 month lease and 56% for 48 month lease (10k miles per month)
    Using $50,831 as discounted price
    If I pay $3400 - the Edmunds Lease Calculator gives me a $731 per month for 36 months.

    This seems a little excessive to me, but needed some advice on how to negotiate down.
  • flic1flic1 Posts: 5
    edited February 2015
    I just leased an F-Sport a week ago that had an MSRP of $52k so hopefully I can help. First of all, does the $3400 only include "fees"? If so, that is very high. My fees including the acquisition fee totaled about $1600. Even if that includes your first payment, that part seems very high. Second, that money factor is also high but that will vary based on your credit. I was top tier and got .0014. What is the sales tax % in VA? If none of your cash is going into cap cost reduction and it is only paying the fees/first payment then the $669 still seems high assuming your tax rate is 6%. I'm calculating a payment of about $640 using your selling price, 65% residual and a 6% sales tax. I'm wondering if the price break (or most of it) on the car is being added back into the 'fees' portion to make the deal look good.

    My total down was about $1000 more than yours and my total payment (incl tax) is just under $600 for 12k miles/year.
  • MichaellMichaell ColoradoPosts: 110,911
    jazz21 said:

    Hi: I live in Northern Virginia and am in the market for a Lexus RC350 F Sport, with Nav, and moon roof. Dealer is stating selling price of $52,830 offering $1999 discount for final of $50,831. Tax, tag, prep fee etc adds another $3400, for a total of $54,221. He is quoting me a lease payment of $669 per month (if I pay the $3400) for 36 months and 10k miles per year. Based on my calculation. the residual is coming to 47% of original price of $50831, which doesn't add up.

    I've been reading up in the posts and see residuals ranging from 60% to 75%. Not sure what MF I should be using and what the calculations look like.

    Any thoughts/ideas/suggestions would be most welcome. Its extremely hard to figure out the best deals, because each dealer puts a twist.

    Any sites that I can visit to find out the best lease deals across the US?

    36/10 residual for the RC350 is 65% this month. Residual is calculated against the MSRP, not the discounted sales amount.

    MF is .00120 (discounted) or .00170 (standard) - Lexus doesn't make it easy to understand which MF is in play at any given time.

    Negotiate the best selling price you can - recognize that the RC is brand new and dealers will not be willing to give much up on the price. Make sure the correct MF is being used.

    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

    2016 VW Jetta 1.4T SE / 2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • jazz21jazz21 Posts: 5
    edited March 2015
    Picked up a Lexus RC350 AWD (Nebula with Playa interior) with every option but Mark Levinson sound system ($55k MSRP). Was able to negotiate a lease for 36 months/10k per year. $625 sign and drive option with first months payment, zero down and zero upfront. Started out at $660 and brought him down to $625. I was aiming for $600.

    I hope i did ok.
  • MichaellMichaell ColoradoPosts: 110,911
    jazz21 said:

    Picked up a Lexus RC350 AWD (Nebula with Playa interior) with every option but Mark Levinson sound system ($55k MSRP). Was able to negotiate a lease for 36 months/10k per year. $625 sign and drive option with first months payment, zero down and zero upfront. Started out at $660 and brought him down to $625. I was aiming for $600.

    I hope i did ok.

    Not a bad deal for a new and very popular car. Enjoy!

    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

    2016 VW Jetta 1.4T SE / 2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

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