Lease 2024 Lexus NX 350

Jacksonh76

Can you please tell me if this is a good lease . I’m looking for 36/12 with no money down . From my understanding the payment should be around 1.3 percent of MSRP. So this seems high. How do I find out the residual value and what MF I should expect with 680 credit score . Located in KY zip code 40502

Michaell

Jacksonh76 said:

Can you please tell me if this is a good lease . I’m looking for 36/12 with no money down . From my understanding the payment should be around 1.3 percent of MSRP. So this seems high. How do I find out the residual value and what MF I should expect with 680 credit score .

What is your location?

I don't see the lease acquisition fee anywhere on that document (it's different from the doc fee).

Jacksonh76

I am located in Lexington KY . Zip code 40502

Michaell

Jacksonh76 said:

I am located in Lexington KY . Zip code 40502

.00270 MF
67% RV for 27/10
61% RV for 36/10
$1000 incentive

With the prices given, I get $601/mo plus tax for 36/10.

Ask them for the following information:
1. Adjusted cap cost - the selling price plus any taxes or fees you aren't paying up front
2. The money factor they are using for the quote - the dealer is allowed to mark it up

Jacksonh76

Thank you! This is my first time considering a lease option . Confusing and financially want to make sure I am getting a decent offer . I appreciate your help .

Michaell

Jacksonh76 said:

Thank you! This is my first time considering a lease option . Confusing and financially want to make sure I am getting a decent offer . I appreciate your help .

Read here for more information about leasing:

https://www.edmunds.com/car-leasing/

Jacksonh76

This is what they are offering on 36/12, and 36/15

Jacksonh76

Jacksonh76

Since I am using Toyota employee discount , The special rate of .270 cannot be combined with what Toyota sets as their rate for employee purchase (.00335) Payments include monthly usage tax 6%, acquisition fee from Lexus $795, and dealer documentation of $699. Cap cost is $46,765.97 on 12k miles

Cap cost is $46,793.23 on 15k miles

kyfdx

Jacksonh76 said:

Since I am using Toyota employee discount , The special rate of .270 cannot be combined with what Toyota sets as their rate for employee purchase (.00335) Payments include monthly usage tax 6%, acquisition fee from Lexus $795, and dealer documentation of $699. Cap cost is $46,765.97 on 12k miles

Cap cost is $46,793.23 on 15k miles

I don't know enough about employee deals to know if the thing about the money factor is true.
Does that mean you aren't eligible for the $1000 lease cash, either?

On the CAP cost: Is that with ZERO due at signing?
If so, then the calculations are correct ($752/mo. for 36/12)

Looks like a big discount, but if that's the deal for employees, I feel sorry for those who walk off the street.

On another note, I've spent a lot of time in 40502. Lived there from age 5-13, and I've had a relative in that ZIP for the last 65 years. Not anymore, last one passed away in 2022.