My lease terms

puthiamadam

Is this lease deal a fair one? I am in NJ

2020 lexus rx350 awd, MSRP $51,415, 36 months, 15,000 miles/year, 0 down, $555/month, MSD $4050. Residual $27,765.

Thanks in advance!

Michaell

puthiamadam said:

Is this lease deal a fair one? I am in NJ

2020 lexus rx350 awd, MSRP $51,415, 36 months, 15,000 miles/year, 0 down, $555/month, MSD $4050. Residual $27,765.

Thanks in advance!

What is the selling price or adjusted cap cost?

No money from you beyond the MSD?

puthiamadam

No money down other than the MSD. Adjusted Capitalized cost 47,635

kyfdx

puthiamadam said:

No money down other than the MSD. Adjusted Capitalized cost 47,635

.00060 MF and 54% residual
$1750 lease cash

Is that 7 MSDs?
Did they give you the final money factor?
If I use .00004 MF I get the same payment.

Nothing but the MSDs upfront? Not even the first payment?

puthiamadam

I paid $4,585 including the first month payment, my contract says refundable MSD as $4,025.

puthiamadam

So, they took $560 as my first payment!

kyfdx

puthiamadam said:

I paid $4,585 including the first month payment, my contract says refundable MSD as $4,025.

puthiamadam said:

So, they took $560 as my first payment!

With 7 MSDs, that takes the MF down to .00004 MF
Results in a payment of $555/mo.
That is all good.

$1350 tax
$895 acq.fee
$400 DMV
$500 doc fee (guessing?)

That is $3150 in charges, minus the $1750 rebate.
Puts the selling price around $46,200.
About 10% off MSRP, before rebate.

Seems reasonable.

MSDs saved you $45/mo.

puthiamadam

Thanks a lot! Taxes were little over 1400 and documentation was 599.

kyfdx

puthiamadam said:

Thanks a lot! Taxes were little over 1400 and documentation was 599.

Close enough.. Congrats!