Lease deal

aroesslein

Trade in a lease Honda Pilot EX-L with the payoff of $20,157 appraised $22,500 The new car is a 2016 LexusNX 200t AWD MSRP $42,153 3 year lease 10,000 miles $419 per month. Residual value $26000 I don't know what the MF is and I'm not sure if this is a good deal or not. Help!

Michaell

aroesslein said:

Trade in a lease Honda Pilot EX-L with the payoff of $20,157 appraised $22,500
The new car is a 2016 LexusNX 200t AWD
MSRP $42,153 3 year lease 10,000 miles $419 per month. Residual value $26000
I don't know what the MF is and I'm not sure if this is a good deal or not. Help!

The Lexus lease numbers are regional - where do you live?

Other than the trade equity, did you have to come up with any cash at signing?

Do you know the selling price of the Lexus?

aroesslein

I live in Missouri.
 No I don't have to put any money down other than the trade. 
The selling price of the Lexus $38,280

Michaell

aroesslein said:

I live in Missouri.
 No I don't have to put any money down other than the trade. 
The selling price of the Lexus $38,280

I get $395/mo before tax with those prices (.00090 MF and 62% residual) - pretty close to your deal.

aroesslein

Ok thank you!