Lexus send me 2.9% 60 mo for a new LS500 AWD
08-10-18, 05:26 AM
#76
Lexus Fanatic
Creditors aren't in the business of voluntarily foregoing "some" payments because they are hard to get. If LFS knows about the death of the lessee, then they will send their claim to the estate. If there's money in the estate to pay all creditors, LFS gets paid in full. If not, then maybe there's a negotiation. But LFS doesn't just throw up their hands and say "It might be hard to get all of our money, so let's not bother."
p.s. you guys remember the end of Training Day, I'm a get the gun, and get the money. Get the gun, get the money. Of course LFS gonna get their money too!
edit p.p.s. upon second thought, line item a. is subject to interpretation, and I would turn to what is done in the real world. That sec 29 is brutal.
Last edited by Johnhav430; 08-10-18 at 05:37 AM.
08-10-18, 06:25 AM
#77
Lexus Fanatic
You’re misunderstanding section 29. They don’t take all the payments and the car back too. It’s like you sold
fhe car or traded it in, you’re only liable for the difference between the value paid for the car and the balance owed on the lease. Think of it like a payoff on a loan. So if the lease payoff is $35k and they take the car and sell it for $30k, you owe $5k.
The other flaw in your argument, is unless your husband has assets that are his own, that are not joint with you, and are only in his name, he will have no estate, and everything just becomes yours when he dies. In that case LFS won’t have any ability to get anything because it’s all already yours.
And there’s no coming forward. Your creditors are alerted if you die. They will find out.
fhe car or traded it in, you’re only liable for the difference between the value paid for the car and the balance owed on the lease. Think of it like a payoff on a loan. So if the lease payoff is $35k and they take the car and sell it for $30k, you owe $5k.
The other flaw in your argument, is unless your husband has assets that are his own, that are not joint with you, and are only in his name, he will have no estate, and everything just becomes yours when he dies. In that case LFS won’t have any ability to get anything because it’s all already yours.
And there’s no coming forward. Your creditors are alerted if you die. They will find out.
08-10-18, 06:45 AM
#78
Lexus Fanatic
You’re misunderstanding section 29. They don’t take all the payments and the car back too. It’s like you sold
fhe car or traded it in, you’re only liable for the difference between the value paid for the car and the balance owed on the lease. Think of it like a payoff on a loan. So if the lease payoff is $35k and they take the car and sell it for $30k, you owe $5k.
The other flaw in your argument, is unless your husband has assets that are his own, that are not joint with you, and are only in his name, he will have no estate, and everything just becomes yours when he dies. In that case LFS won’t have any ability to get anything because it’s all already yours.
And there’s no coming forward. Your creditors are alerted if you die. They will find out.
fhe car or traded it in, you’re only liable for the difference between the value paid for the car and the balance owed on the lease. Think of it like a payoff on a loan. So if the lease payoff is $35k and they take the car and sell it for $30k, you owe $5k.
The other flaw in your argument, is unless your husband has assets that are his own, that are not joint with you, and are only in his name, he will have no estate, and everything just becomes yours when he dies. In that case LFS won’t have any ability to get anything because it’s all already yours.
And there’s no coming forward. Your creditors are alerted if you die. They will find out.
edit: and in the above the casino builder reemerges and goes on to bigger and better things, while the cabinet maker is still out of business
08-10-18, 10:11 AM
#79
Lexus Fanatic
iTrader: (20)
08-10-18, 01:59 PM
#80
Lexus Fanatic
I guess my takeway from all of this, was that I had always thought there were three places where assets go when a person passes away. Heirs, charity, IRS. I never (and sure I'm naive) thought people would design things such that creditors would not get paid, but still be able to pass things on to heirs. The c'mon LFS, what else you got, you get nothing. Meaning, they're on the up and up by wanting the difference between payments and what they fetch at auction, but can't do it. How is that not getting stiffed? That's like someone building casinos in Atlantic City, going bankrupt, and the folks who made the cabinets having to go out of business since they were never paid for the work they performed.
edit: and in the above the casino builder reemerges and goes on to bigger and better things, while the cabinet maker is still out of business
edit: and in the above the casino builder reemerges and goes on to bigger and better things, while the cabinet maker is still out of business
And believe me, LFS has done just fine off of me over the years, if I were to suffer an untimely death they'll be just fine.
Are your assets in accounts that are jointly held with your wife? Do your accounts have beneficiaries assigned? Do you co-own property with your wife? If so...you've also set yourself up the same way.
So I looked it up..interesting...apparently I am...
08-11-18, 04:11 AM
#81
That's very misleading. Mercedes had S-Class supply issues due to temporary dealer inventory shortfall and technology issues. The S-Class outsold it every month this year before July, despite being a several year old design. The 430 and 460 both outsold the S-Class upon release. Here's the sales numbers so far.
February 548 (partial month due to late release)
March 1008
April 999
May 908
June 789
July 714
For July, the 7-series (also a several year old design) sold 704. Sales for the 500 have opened lower and decline faster than any of the other recent LS redesigns or even the last refresh. Lexus expects to sell 12,000 this year. Not going to happen unless they give them away. It's very close to going back to #3 in the market. I wouldn't be surprised if the new A8 makes it #4.
Remember, this is the LS that was be best selling car in the class for 15 of it's first 17 years.
08-11-18, 05:38 AM
#82
Lexus Test Driver
I finally saw an LS on the highway yesterday - it is a really awkward looking car from the side. The large wheel gap and small wheels on the one I saw really made it look ugly.
The G90 is a way superior design and looks like a flagship.
The G90 is a way superior design and looks like a flagship.
08-11-18, 06:27 AM
#83
Lexus Fanatic
That's very misleading. Mercedes had S-Class supply issues due to temporary dealer inventory shortfall and technology issues. The S-Class outsold it every month this year before July, despite being a several year old design. The 430 and 460 both outsold the S-Class upon release. Here's the sales numbers so far.
February 548 (partial month due to late release)
March 1008
April 999
May 908
June 789
July 714
For July, the 7-series (also a several year old design) sold 704. Sales for the 500 have opened lower and decline faster than any of the other recent LS redesigns or even the last refresh. Lexus expects to sell 12,000 this year. Not going to happen unless they give them away. It's very close to going back to #3 in the market. I wouldn't be surprised if the new A8 makes it #4.
So, yeah, at this point it isn't a failure, but it certainly isn't anywhere close to being a success. Disappointing would probably describe it best.
Remember, this is the LS that was be best selling car in the class for 15 of it's first 17 years.
February 548 (partial month due to late release)
March 1008
April 999
May 908
June 789
July 714
For July, the 7-series (also a several year old design) sold 704. Sales for the 500 have opened lower and decline faster than any of the other recent LS redesigns or even the last refresh. Lexus expects to sell 12,000 this year. Not going to happen unless they give them away. It's very close to going back to #3 in the market. I wouldn't be surprised if the new A8 makes it #4.
So, yeah, at this point it isn't a failure, but it certainly isn't anywhere close to being a success. Disappointing would probably describe it best.
Remember, this is the LS that was be best selling car in the class for 15 of it's first 17 years.
My hunch is it took discounts to move the LS430 in late 2005/early 2006. So that would be normal to discount a Lexus at the end of its lifecycle. Just surprising that incentives are needed when it's a new model. I agree from what I've seen online of the A8, it should be well received. The LS500 buyer is going to go on reputation and reliability.
08-11-18, 06:30 AM
#84
Lexus Fanatic
The question becomes, how much do looks matter? Should a buyer compromise? We all remember that Sopranos scene where Phil Leotardo talks about compromise! (that tissue comment cracks me up to this day)
08-11-18, 06:36 AM
#85
I don’t see that 2.9% as an incentive to purchase, as my local CU has a current rate of 2.74% for up to 65 mos. I’m sure there are better rates than that out there. I would be more interested in any rebates or cash discounts.
08-11-18, 07:25 AM
#86
Lexus Fanatic
Agree--as you probably know, "real" people work at credit unions (I belong to #1 and #3 largest in the USA, closed all the other accounts), and as cliche as it might sound, they treat you as if you have some true affiliation or connection. So if they are competitive, why not give them the business? Now if I were in DC I could walk into multiple branches of both, but living here in Phila., I can only walk into #1 if I needed to go to a branch. But everything can be easily done over the phone. Cash plus your CU is not a bad way to go about it...
08-11-18, 08:09 AM
#87
Lexus Fanatic
I've asked several times on this forum but likely folks who know are not active. Would be curious to know, what a 2006 LS430 went out the door for, say it was $65,300 list, in late 2005. Because again I remember doing a Lexus event at Belmont Raceway in July 2005, and nobody was interested in driving the LS430. As in the cars were sitting there, you just walked up and got in. The SC was popular but the hit was the 2006 BMW 330i that they brought. Huge a** line, it was an attempt to elevate the IS that backfired (pretty sure at least a couple of people here were at the event).
My hunch is it took discounts to move the LS430 in late 2005/early 2006. So that would be normal to discount a Lexus at the end of its lifecycle. Just surprising that incentives are needed when it's a new model. I agree from what I've seen online of the A8, it should be well received. The LS500 buyer is going to go on reputation and reliability.
My hunch is it took discounts to move the LS430 in late 2005/early 2006. So that would be normal to discount a Lexus at the end of its lifecycle. Just surprising that incentives are needed when it's a new model. I agree from what I've seen online of the A8, it should be well received. The LS500 buyer is going to go on reputation and reliability.
Credit unions are all well and good but they're a PITA.
08-11-18, 08:17 AM
#88
Credit unions are all well and good but they're a PITA.
Last edited by bitkahuna; 08-11-18 at 03:17 PM.
08-11-18, 08:19 AM
#89
Lexus Fanatic
I applied online, received approval in about 30 seconds and requested a check be made available at my nearest branch. Not real work to speak of. Picked up my check on way to dealership. I thought the process was smooth, but may not be for everyone. Most people prefer financing at the dealer as it is a one stop shop, but same can be said for people that always trade to the dealer and do not sell privately. Convenience really.
Count me as one of the ones who never sell a car privately either.
