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My lease terms

puthiamadamputhiamadam Member Posts: 10
edited January 2020 in Lexus
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!
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    MichaellMichaell Moderator Posts: 241,336
    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?

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    puthiamadamputhiamadam Member Posts: 10
    No money down other than the MSD. Adjusted Capitalized cost 47,635
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    kyfdxkyfdx Moderator Posts: 237,302
    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?

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    puthiamadamputhiamadam Member Posts: 10
    I paid $4,585 including the first month payment, my contract says refundable MSD as $4,025.
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    puthiamadamputhiamadam Member Posts: 10
    So, they took $560 as my first payment!
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    kyfdxkyfdx Moderator Posts: 237,302
    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.

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    puthiamadamputhiamadam Member Posts: 10
    Thanks a lot! Taxes were little over 1400 and documentation was 599.
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    kyfdxkyfdx Moderator Posts: 237,302
    puthiamadam said:

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

    Close enough.. Congrats!

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