For the example above (drpharma's post), how did the tax come out to $1,446.95? I thought NJ applied tax to just the total amount of lease payments, or the depreciation amount? Is 7% sales tax applied to the MSRP - Residual Value, or is it applied to the Negotiated Cap Cost - Residual Value? Thank you.
Right now, I'm being told the December to Remember event has $500 lease cash, $1,000 loyalty cash (for current Lexus owners/lessees), and first month's payment (up to $700). Are there any other incentives that I am missing for RX 350s?
For the example above (drpharma's post), how did the tax come out to $1,446.95? I thought NJ applied tax to just the total amount of lease payments, or the depreciation amount? Is 7% sales tax applied to the MSRP - Residual Value, or is it applied to the Negotiated Cap Cost - Residual Value? Thank you.
Right now, I'm being told the December to Remember event has $500 lease cash, $1,000 loyalty cash (for current Lexus owners/lessees), and first month's payment (up to $700). Are there any other incentives that I am missing for RX 350s?
NJ taxes the sum of the payments, and collects the money up front. You can choose to pay it when you sign the papers, or roll the tax into the cap cost and add it to the monthly payment (that is our recommendation).
I only see the $500 lease cash and first payment covered. No other incentive information.
For the example above (drpharma's post), how did the tax come out to $1,446.95? I thought NJ applied tax to just the total amount of lease payments, or the depreciation amount? Is 7% sales tax applied to the MSRP - Residual Value, or is it applied to the Negotiated Cap Cost - Residual Value? Thank you.
Right now, I'm being told the December to Remember event has $500 lease cash, $1,000 loyalty cash (for current Lexus owners/lessees), and first month's payment (up to $700). Are there any other incentives that I am missing for RX 350s?
NJ taxes the sum of the payments, and collects the money up front. You can choose to pay it when you sign the papers, or roll the tax into the cap cost and add it to the monthly payment (that is our recommendation).
I only see the $500 lease cash and first payment covered. No other incentive information.
Thank you for your reply.
I'm still having trouble coming up with the tax provided in the example below:
" Is this a good deal for 36 month 12/k lease in NJ?
MSRP: $54,772 discount price: $48,700 MF: .00155 Residual: 63% cap adjusted rebate: $1,000 Adjusted cap rate: $47,894.90 monthly payment: $499.62
Down: NJ tax $1,446.95, Bank fee, $700, Doc $495, motor vehicle: $300, tire fee: $7.50 "
Wouldn't the sum of payments be $499.62 x 36 = $17,986.32. Then the tax (7% in NJ) be = $17,986.32 x 0.07 = $1,259.04? Where does the extra $187.91 come from?
For the example above (drpharma's post), how did the tax come out to $1,446.95? I thought NJ applied tax to just the total amount of lease payments, or the depreciation amount? Is 7% sales tax applied to the MSRP - Residual Value, or is it applied to the Negotiated Cap Cost - Residual Value? Thank you.
Right now, I'm being told the December to Remember event has $500 lease cash, $1,000 loyalty cash (for current Lexus owners/lessees), and first month's payment (up to $700). Are there any other incentives that I am missing for RX 350s?
NJ taxes the sum of the payments, and collects the money up front. You can choose to pay it when you sign the papers, or roll the tax into the cap cost and add it to the monthly payment (that is our recommendation).
I only see the $500 lease cash and first payment covered. No other incentive information.
Thank you for your reply.
I'm still having trouble coming up with the tax provided in the example below:
" Is this a good deal for 36 month 12/k lease in NJ?
MSRP: $54,772 discount price: $48,700 MF: .00155 Residual: 63% cap adjusted rebate: $1,000 Adjusted cap rate: $47,894.90 monthly payment: $499.62
Down: NJ tax $1,446.95, Bank fee, $700, Doc $495, motor vehicle: $300, tire fee: $7.50 "
Wouldn't the sum of payments be $499.62 x 36 = $17,986.32. Then the tax (7% in NJ) be = $17,986.32 x 0.07 = $1,259.04? Where does the extra $187.91 come from?
Thank you.
$700 bank fee and $1000 rebate are both taxable. That's $119 of it. Maybe some luxury tax or something like that in NJ for cars over $50K?
The payment calculation is exact. $495 is pretty stiff for a doc fee.
For the example above (drpharma's post), how did the tax come out to $1,446.95? I thought NJ applied tax to just the total amount of lease payments, or the depreciation amount? Is 7% sales tax applied to the MSRP - Residual Value, or is it applied to the Negotiated Cap Cost - Residual Value? Thank you.
Right now, I'm being told the December to Remember event has $500 lease cash, $1,000 loyalty cash (for current Lexus owners/lessees), and first month's payment (up to $700). Are there any other incentives that I am missing for RX 350s?
NJ taxes the sum of the payments, and collects the money up front. You can choose to pay it when you sign the papers, or roll the tax into the cap cost and add it to the monthly payment (that is our recommendation).
I only see the $500 lease cash and first payment covered. No other incentive information.
Thank you for your reply.
I'm still having trouble coming up with the tax provided in the example below:
" Is this a good deal for 36 month 12/k lease in NJ?
MSRP: $54,772 discount price: $48,700 MF: .00155 Residual: 63% cap adjusted rebate: $1,000 Adjusted cap rate: $47,894.90 monthly payment: $499.62
Down: NJ tax $1,446.95, Bank fee, $700, Doc $495, motor vehicle: $300, tire fee: $7.50 "
Wouldn't the sum of payments be $499.62 x 36 = $17,986.32. Then the tax (7% in NJ) be = $17,986.32 x 0.07 = $1,259.04? Where does the extra $187.91 come from?
Thank you.
$700 bank fee and $1000 rebate are both taxable. That's $119 of it. Maybe some luxury tax or something like that in NJ for cars over $50K?
The payment calculation is exact. $495 is pretty stiff for a doc fee.
Yes, I think .4% or something like that for luxury tax in NJ. Not sure if there is a minimum threshold, however.
One last question: for the multiple security deposit program that Lexus has, I read in the 2016 RX 350 Leasing thread that Lexus allows up to 9 security deposits with each deposit reducing your MF by 0.00008. Is the security deposit the same amount as the lease payment? Do I pay the security deposit at the dealership?
One last question: for the multiple security deposit program that Lexus has, I read in the 2016 RX 350 Leasing thread that Lexus allows up to 9 security deposits with each deposit reducing your MF by 0.00008. Is the security deposit the same amount as the lease payment? Do I pay the security deposit at the dealership?
Thank you!
It's the payment, rounded up to the next $25 or $50 increment. The deposit is collected at lease inception and the leasing bank holds it.
What are the residual numbers for 2017 RX350 base for Dec2017 for 24/10,24/12 & 24/15?
Is it better to do 24 or 36 lease?
Also, the dealer seems to be marking up the MF to 0.00123 with 9 MSD's. Is there something I can pony them too to get this in line with LFS numbers of .00155 with no MSD as the starting point.
What are the residual numbers for 2017 RX350 base for Dec2017 for 24/10,24/12 & 24/15?
Is it better to do 24 or 36 lease?
Also, the dealer seems to be marking up the MF to 0.00123 with 9 MSD's. Is there something I can pony them too to get this in line with LFS numbers of .00155 with no MSD as the starting point.
70%, 69% or 67%
36 months is the better term.
Be polite and tell them you won't sign a deal with an inflated MF. They know what the base rate is.
What are the residual numbers for 2017 RX350 base for Dec2017 for 24/10,24/12 & 24/15?
Is it better to do 24 or 36 lease?
Also, the dealer seems to be marking up the MF to 0.00123 with 9 MSD's. Is there something I can pony them too to get this in line with LFS numbers of .00155 with no MSD as the starting point.
70%, 69% or 67%
36 months is the better term.
Be polite and tell them you won't sign a deal with an inflated MF. They know what the base rate is.
For 36/10, 36/12, 36/15 the residual are 64/63/61.. right?
What are the residual numbers for 2017 RX350 base for Dec2017 for 24/10,24/12 & 24/15?
Is it better to do 24 or 36 lease?
Also, the dealer seems to be marking up the MF to 0.00123 with 9 MSD's. Is there something I can pony them too to get this in line with LFS numbers of .00155 with no MSD as the starting point.
70%, 69% or 67%
36 months is the better term.
Be polite and tell them you won't sign a deal with an inflated MF. They know what the base rate is.
For 36/10, 36/12, 36/15 the residual are 64/63/61.. right?
Could you pls let me know what the MF and residual is for a 2017 RX350 Base and F-Sport for 36m/10k/year in NY/NJ?
Are there any special programs outside of 36m such as 27m?
From what I've seen on edmunds, some dealers are offering about 11% off MSRP (59,900 - about 6900 in discount which includes 1k of loyalty). Can I do better than this?
Lastly, I live in NY. I understand that NY doesn't do MSD's. Can I lease in NJ, put down MSDs and register in NY?
Could you pls let me know what the MF and residual is for a 2017 RX350 Base and F-Sport for 36m/10k/year in NY/NJ?
Are there any special programs outside of 36m such as 27m?
From what I've seen on edmunds, some dealers are offering about 11% off MSRP (59,900 - about 6900 in discount which includes 1k of loyalty). Can I do better than this?
Lastly, I live in NY. I understand that NY doesn't do MSD's. Can I lease in NJ, put down MSDs and register in NY?
Thanks!
.00155 MF and 64%/65% residual for base/Fsport. $500 lease cash + complimentary 1st payment.
There aren't any other term options that are better. No info on selling prices.
Thank you. It's very odd, but the dealer is telling me that the monthly payment would be $575 per month (for 36 months, with 15k miles per year) with $0 due at signing (taxes and fees rolled into the lease). They say that they can't show the adjusted capital cost without finalizing the deal, as their software doesn't allow them to model the deal.
Thank you. It's very odd, but the dealer is telling me that the monthly payment would be $575 per month (for 36 months, with 15k miles per year) with $0 due at signing (taxes and fees rolled into the lease). They say that they can't show the adjusted capital cost without finalizing the deal, as their software doesn't allow them to model the deal.
Maybe my tax calculation is wrong (I'm in NJ).
Well... you are estimating, and they won't tell you the actual number, so it seems you are at an impasse. How can you make a deal, if they won't give you the numbers?
Thanks, @Kyfdx! The monthly payment is $739.95 (not sure why it's called advanced payment on the sheet), which is base monthly payment of $673.91 + tax of $66.04. I think that the rebates are $500 lease cash + up to $700 first month payment. I don't need lojack but the dealer said that it's pre-installed and they cannot remove it.
Have you shopped around other local dealers? In my opinion, the price doesn't seem competitive and having to pay for something that you don't need is ridiculous.
kyfdx - my Lexus dealer only lowered MF down to .00105 - not .00083 with my 9 multiple deposits. What are my options - just leased car on 12/30/16? Do dealers have option to play around with the MF?
kyfdx - my Lexus dealer only lowered MF down to .00105 - not .00083 with my 9 multiple deposits. What are my options - just leased car on 12/30/16? Do dealers have option to play around with the MF?
Does anyone have any lease numbers yet for January? I am looking at a base RX in Florida with 12K miles per year / 3 year. Also - Is there any lease cash or other incentive this month? Thank you
kyfdx - my Lexus dealer only lowered MF down to .00105 - not .00083 with my 9 multiple deposits. What are my options - just leased car on 12/30/16? Do dealers have option to play around with the MF?
Yes... if you've signed and taken delivery, you are out of luck.
Does anyone have any lease numbers yet for January? I am looking at a base RX in Florida with 12K miles per year / 3 year. Also - Is there any lease cash or other incentive this month? Thank you
New program starts on Wednesday. Hopefully, we'll have the new numbers, some time this week.
<bsokal said: kyfdx - my Lexus dealer only lowered MF down to .00105 - not .00083 with my 9 multiple deposits. What are my options - just leased car on 12/30/16? Do dealers have option to play around with the MF?
Yes... if you've signed and taken delivery, you are out of luck.
======================= Good news! Went to the dealer today - had to speak to the Sales Manager and General Manager. They agreed to give me the lower MF of 0,00083 when I complained about lack of transparency of the pricing with multiple security deposits because I specifically questioned the original high MF. Will have to sign new leasing agreement tomorrow.
This dealership is known for wanting to receive high customer satisfaction ratings and up to this point I had not been satisfied - now I am.
Excellent. You have no idea what a low survey score will do to the stores bonus pool. Glad they saw the error of their ways and are giving you a new contract.
Now, double-check all the numbers to make sure the MF is the only one that changed. Hate to see the dealer try to finagle something into the new deal to make up for the lost profit of the bumped MF.
Do you have new January residual and money factor numbers for RX350 in AWD for 12k miles? Thanks in advance. Also, does Lexus add an acquisition fee that's on top of the destination fee? Thank you.
Do you have new January residual and money factor numbers for RX350 in AWD for 12k miles? Thanks in advance. Also, does Lexus add an acquisition fee that's on top of the destination fee? Thank you.
.00120 MF and 62% residual
The destination fee is part of the MSRP. There should never be a separate charge for it.
LFS charges a $700 acquisition fee on every lease.
Comments
Right now, I'm being told the December to Remember event has $500 lease cash, $1,000 loyalty cash (for current Lexus owners/lessees), and first month's payment (up to $700). Are there any other incentives that I am missing for RX 350s?
I only see the $500 lease cash and first payment covered. No other incentive information.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
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I'm still having trouble coming up with the tax provided in the example below:
"
Is this a good deal for 36 month 12/k lease in NJ?
MSRP: $54,772
discount price: $48,700
MF: .00155
Residual: 63%
cap adjusted rebate: $1,000
Adjusted cap rate: $47,894.90
monthly payment: $499.62
Down: NJ tax $1,446.95, Bank fee, $700, Doc $495, motor vehicle: $300, tire fee: $7.50
"
Wouldn't the sum of payments be $499.62 x 36 = $17,986.32. Then the tax (7% in NJ) be = $17,986.32 x 0.07 = $1,259.04? Where does the extra $187.91 come from?
Thank you.
The payment calculation is exact. $495 is pretty stiff for a doc fee.
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Thank you!
The deposit is collected at lease inception and the leasing bank holds it.
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Is it better to do 24 or 36 lease?
Also, the dealer seems to be marking up the MF to 0.00123 with 9 MSD's. Is there something I can pony them too to get this in line with LFS numbers of .00155 with no MSD as the starting point.
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36 months is the better term.
Be polite and tell them you won't sign a deal with an inflated MF. They know what the base rate is.
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That is correct ... for the base trim.
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Could you pls let me know what the MF and residual is for a 2017 RX350 Base and F-Sport for 36m/10k/year in NY/NJ?
Are there any special programs outside of 36m such as 27m?
From what I've seen on edmunds, some dealers are offering about 11% off MSRP (59,900 - about 6900 in discount which includes 1k of loyalty). Can I do better than this?
Lastly, I live in NY. I understand that NY doesn't do MSD's. Can I lease in NJ, put down MSDs and register in NY?
Thanks!
$500 lease cash + complimentary 1st payment.
There aren't any other term options that are better.
No info on selling prices.
If LFS allows it, you can do MSDs at a NJ dealer.
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$500 lease cash + complimentary 1st payment
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2017 RX 350 base
MSRP = $54,772
Discounts:
Loyalty Rebate = $1000
Lease Cash = $500
Dealer Discount = $3200
Additional Discount = $2800
First month's payment waived
Adjusted Cap Cost = $47,272
MSD MF = 0.00155 - 0.00072 = 0.00083
Fees = $1,502.50 (bank: $700, doc: $495, dmv: $307.50)
Tax should be about $1,400.
Taxes and fees will be rolled into the lease ($0 due at signing).
2017 RX 450h Hybrid
MSRP = $56,338
Discounts:
Loyalty Rebate = $1000
Lease Cash = $500
Dealer Discount = $3200
Additional Discount = $2800
First month's payment waived
Adjusted Cap Cost = $49,338
MSD MF = 0.00155 - 0.00072 = 0.00083
Fees = $1,502.50 (bank: $700, doc: $495, dmv: $307.50)
Tax should be about $1,410.
Taxes and fees will be rolled into the lease ($0 due at signing).
Thank you!
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Maybe my tax calculation is wrong (I'm in NJ).
How can you make a deal, if they won't give you the numbers?
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2017 RX 350 base (36 month, 15k mile per year lease)
MSRP = $54,772
Selling Price: $50,068.12
Loyalty Rebate = $1000
Lease Cash = $500
First month's payment waived = $550
Tax = $1,630.31
Bank Fee = $700
Doc/MV Fees = $799.50
Adjusted Cap Cost = $50,697.93
MSD MF = 0.00155 - 0.00072 = 0.00083
Taxes and fees rolled into the lease ($0 due at signing).
Is the payment of $550 per month correct? Can anyone recommend a good online calculator?
Thank you!
MSRP: $57,359
Selling price: $54,053
Other dealer add-ons: $1,024 (Pro Trim/LOJACK)
Total rebates: $1,200
MF: 0.00155 (will ask for MSD reduction)
RV: 64%
Doc fee: $150
License: $300
Acquisition fee: $700
Advanced payment: $739.95
Upfront charge: $41.06
Total cap reduction: $416.99
Due on delivery: $0
Does this look accurate? Good deal?
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Why do you need lojack?
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The monthly payment is $739.95 (not sure why it's called advanced payment on the sheet), which is base monthly payment of $673.91 + tax of $66.04. I think that the rebates are $500 lease cash + up to $700 first month payment. I don't need lojack but the dealer said that it's pre-installed and they cannot remove it.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
$500 lease cash + complimentary 1st payment
9 MSDs takes the MF down to .00083.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
Add 1% for F-Sport AWD
$500 lease cash and complimentary first payment.
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kyfdx - my Lexus dealer only lowered MF down to .00105 - not .00083 with my 9 multiple deposits. What are my options - just leased car on 12/30/16? Do dealers have option to play around with the MF?
Yes... if you've signed and taken delivery, you are out of luck.
=======================
Good news! Went to the dealer today - had to speak to the Sales Manager and General Manager. They agreed to give me the lower MF of 0,00083 when I complained about lack of transparency of the pricing with multiple security deposits because I specifically questioned the original high MF. Will have to sign new leasing agreement tomorrow.
This dealership is known for wanting to receive high customer satisfaction ratings and up to this point I had not been satisfied - now I am.
Now, double-check all the numbers to make sure the MF is the only one that changed. Hate to see the dealer try to finagle something into the new deal to make up for the lost profit of the bumped MF.
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2015 Subaru Outback 3.6R / 2024 Kia Sportage Hybrid SX Prestige
2017 RX 350 FWD
36/10k
MSRP $52,399
Buying Price: $46,986
Monthly payment: $540 total
Paid $700 cash up front
Is this a good deal?
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The destination fee is part of the MSRP. There should never be a separate charge for it.
LFS charges a $700 acquisition fee on every lease.
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Thanks