Share your deal! Leased or Financed
03-05-22, 01:50 PM
#1
Instructor
Thread Starter
Share your deal! Leased or Financed
It occurred to me that as most Lexus dealers are selling @ or slightly above MSRP with little to no discounts available. It would appear that now would present a time in the automotive game that most buyers are paying pretty close to the same as others when comparing models, trims, and features. Any other time before this current market, for people like me, the battle for the deal was a welcomed challenge. The quest for the elusive "unicorn" deal as I like to call it. Now, the playing field for some and the battleground for others, has mostly been leveled by current market conditions as most, if not all dealers are asking about the same. There are obviously those dealers that are tacking on options and mark-ups but unfortunately, they still count at the end of the day on that MSRP. Basically the fluctuations for landing a great deal are pretty much gone for most and I thought this was a good time to gauge the pulse of what others have paid around the country. Whether leasing or financing, there can still be some fluctuation there depending on region, rates, incentives, and those annoying add-ons.
So whether leased or financed what deal did you get? If you are waiting on a special order, obviously you won't have the exact calculations of the deal due to fluctuating incentives, APR’s, Money Factors, and residuals possibly changing every month. However, the selling price should be established even if the final deal hasn't been signed. It’s important to make sure you have documentation or a quote sheet of selling price or deal parameters. If nothing else, you should hopefully have a ballpark of what to expect. Regardless, anyone that has a vehicle on order should have some awareness of what kind of deal they are going to get, even if approximate. So share what you can with that regard so that others, who are considering that option in the future, might have some insight as to what to expect.
The factors to list separately if possible, would be a trade-in or any money due at signing. (DAS). List separately so that the whole picture is established, especially for those cases where money down has significantly impacted the monthly payments. That could be misleading without the whole picture of the deal. Basically what this does is allow for a better gauge of the Effective Monthly Payment, whether leased or financed. Not everyone will know how to calculate the EMP so reach out to someone if you have questions. I realize that it might be difficult to separate the trade-in/money down and adjust the payment amount to reflect an Effective Monthly Payment. Put what you can and if someone has questions i’m sure they will ask. Be as detailed as you like with pertinent information. You can include your APR and term, if financed or Money Factor and Residuals, if leased. Go for it. If you are one of the fortunate people that bought your car out-right, you can still list your final selling price.
One other important reason to understand the Effective Monthly Payment is that you get a more accurate measure of what you are truly paying per month. When it comes to leasing a new car, whether you should or shouldn’t make a down payment depends on your individual situation. A down payment doesn’t help you save money on the overall cost of a lease like it does for an auto loan. However, it does reduce your monthly payment.
On that note, I’ll leave it there as there is way too much information I could go into but I want to keep this thread straightforward.
I want to STRESS this point- this thread is NOT meant to be a debate thread between Leasing Vs. Financing and/or the pros and cons of each. This is strictly meant as a thread for those who would like to share their deals with the group. If possible help others gain insight to the market and help manage expectations. So please do not hijack this thread with that discussion. Trust me there is plenty to be said on the subject so let’s not deviate too much. Just start a new thread! :-)
** If I’ve missed something or something isn’t clear and needs clarifying, please ask. I have reviewed this multiple times and it’s starting to become a bit of a blur!
Lastly, include the date of when the deal was completed so as to get the complete picture. Also, for comparison purposes, only list new car purchase/lease deals. Used and CPO vehicles should not be included.
As an example: My last 2 auto deals
Lease:
2022 ES 350 Ultra Luxury
MSRP $54,265
Disc. $4873 + Rebate $1500 = $6373
Purchase price $47,892
$701 / mo. tax included
36 mos 7.5k (miles per year)
$0 DAS (due @ signing)
ky tax included. 6%
Deal date: January 2022
Lease:
2019 ES 350 Luxury
MSRP $52,008
Disc. + Rebate = $11,382
Purchase price $40,626
$491 / mo. tax included
36 mos 7.5k (miles per year)
$0 DAS (due @ signing)
ky tax included. 6%
Deal date: Dec. 30th 2019
So whether leased or financed what deal did you get? If you are waiting on a special order, obviously you won't have the exact calculations of the deal due to fluctuating incentives, APR’s, Money Factors, and residuals possibly changing every month. However, the selling price should be established even if the final deal hasn't been signed. It’s important to make sure you have documentation or a quote sheet of selling price or deal parameters. If nothing else, you should hopefully have a ballpark of what to expect. Regardless, anyone that has a vehicle on order should have some awareness of what kind of deal they are going to get, even if approximate. So share what you can with that regard so that others, who are considering that option in the future, might have some insight as to what to expect.
The factors to list separately if possible, would be a trade-in or any money due at signing. (DAS). List separately so that the whole picture is established, especially for those cases where money down has significantly impacted the monthly payments. That could be misleading without the whole picture of the deal. Basically what this does is allow for a better gauge of the Effective Monthly Payment, whether leased or financed. Not everyone will know how to calculate the EMP so reach out to someone if you have questions. I realize that it might be difficult to separate the trade-in/money down and adjust the payment amount to reflect an Effective Monthly Payment. Put what you can and if someone has questions i’m sure they will ask. Be as detailed as you like with pertinent information. You can include your APR and term, if financed or Money Factor and Residuals, if leased. Go for it. If you are one of the fortunate people that bought your car out-right, you can still list your final selling price.
One other important reason to understand the Effective Monthly Payment is that you get a more accurate measure of what you are truly paying per month. When it comes to leasing a new car, whether you should or shouldn’t make a down payment depends on your individual situation. A down payment doesn’t help you save money on the overall cost of a lease like it does for an auto loan. However, it does reduce your monthly payment.
On that note, I’ll leave it there as there is way too much information I could go into but I want to keep this thread straightforward.
I want to STRESS this point- this thread is NOT meant to be a debate thread between Leasing Vs. Financing and/or the pros and cons of each. This is strictly meant as a thread for those who would like to share their deals with the group. If possible help others gain insight to the market and help manage expectations. So please do not hijack this thread with that discussion. Trust me there is plenty to be said on the subject so let’s not deviate too much. Just start a new thread! :-)
** If I’ve missed something or something isn’t clear and needs clarifying, please ask. I have reviewed this multiple times and it’s starting to become a bit of a blur!
Lastly, include the date of when the deal was completed so as to get the complete picture. Also, for comparison purposes, only list new car purchase/lease deals. Used and CPO vehicles should not be included.
As an example: My last 2 auto deals
Lease:
2022 ES 350 Ultra Luxury
MSRP $54,265
Disc. $4873 + Rebate $1500 = $6373
Purchase price $47,892
$701 / mo. tax included
36 mos 7.5k (miles per year)
$0 DAS (due @ signing)
ky tax included. 6%
Deal date: January 2022
Lease:
2019 ES 350 Luxury
MSRP $52,008
Disc. + Rebate = $11,382
Purchase price $40,626
$491 / mo. tax included
36 mos 7.5k (miles per year)
$0 DAS (due @ signing)
ky tax included. 6%
Deal date: Dec. 30th 2019
03-05-22, 02:37 PM
#3
Instructor
It occurred to me that as most Lexus dealers are selling @ or slightly above MSRP with little to no discounts available. It would appear that now would present a time in the automotive game that most buyers are paying pretty close to the same as others when comparing models, trims, and features. Any other time before this current market, for people like me, the battle for the deal was a welcomed challenge. The quest for the elusive "unicorn" deal as I like to call it. Now, the playing field for some and the battleground for others, has mostly been leveled by current market conditions as most, if not all dealers are asking about the same. There are obviously those dealers that are tacking on options and mark-ups but unfortunately, they still count at the end of the day on that MSRP. Basically the fluctuations for landing a great deal are pretty much gone for most and I thought this was a good time to gauge the pulse of what others have paid around the country. Whether leasing or financing, there can still be some fluctuation there depending on region, rates, incentives, and those annoying add-ons.
So whether leased or financed what deal did you get? If you are waiting on a special order, obviously you won't have the exact calculations of the deal due to fluctuating incentives, APR’s, Money Factors, and residuals possibly changing every month. However, the selling price should be established even if the final deal hasn't been signed. It’s important to make sure you have documentation or a quote sheet of selling price or deal parameters. If nothing else, you should hopefully have a ballpark of what to expect. Regardless, anyone that has a vehicle on order should have some awareness of what kind of deal they are going to get, even if approximate. So share what you can with that regard so that others, who are considering that option in the future, might have some insight as to what to expect.
The factors to list separately if possible, would be a trade-in or any money due at signing. (DAS). List separately so that the whole picture is established, especially for those cases where money down has significantly impacted the monthly payments. That could be misleading without the whole picture of the deal. Basically what this does is allow for a better gauge of the Effective Monthly Payment, whether leased or financed. Not everyone will know how to calculate the EMP so reach out to someone if you have questions. I realize that it might be difficult to separate the trade-in/money down and adjust the payment amount to reflect an Effective Monthly Payment. Put what you can and if someone has questions i’m sure they will ask. Be as detailed as you like with pertinent information. You can include your APR and term, if financed or Money Factor and Residuals, if leased. Go for it. If you are one of the fortunate people that bought your car out-right, you can still list your final selling price.
One other important reason to understand the Effective Monthly Payment is that you get a more accurate measure of what you are truly paying per month. When it comes to leasing a new car, whether you should or shouldn’t make a down payment depends on your individual situation. A down payment doesn’t help you save money on the overall cost of a lease like it does for an auto loan. However, it does reduce your monthly payment.
On that note, I’ll leave it there as there is way too much information I could go into but I want to keep this thread straightforward.
I want to STRESS this point- this thread is NOT meant to be a debate thread between Leasing Vs. Financing and/or the pros and cons of each. This is strictly meant as a thread for those who would like to share their deals with the group. If possible help others gain insight to the market and help manage expectations. So please do not hijack this thread with that discussion. Trust me there is plenty to be said on the subject so let’s not deviate too much. Just start a new thread! :-)
** If I’ve missed something or something isn’t clear and needs clarifying, please ask. I have reviewed this multiple times and it’s starting to become a bit of a blur!
Lastly, include the date of when the deal was completed so as to get the complete picture. Also, for comparison purposes, only list new car purchase/lease deals. Used and CPO vehicles should not be included.
As an example: My last 2 auto deals
Lease:
2022 ES 350 Ultra Luxury
MSRP $54,265
Disc. $4873 + Rebate $1500 = $6373
Purchase price $47,892
$701 / mo. tax included
36 mos 7.5k (miles per year)
$0 DAS (due @ signing)
ky tax included. 6%
Deal date: January 2022
Lease:
2019 ES 350 Luxury
MSRP $52,008
Disc. + Rebate = $11,382
Purchase price $40,626
$491 / mo. tax included
36 mos 7.5k (miles per year)
$0 DAS (due @ signing)
ky tax included. 6%
Deal date: Dec. 30th 2019
So whether leased or financed what deal did you get? If you are waiting on a special order, obviously you won't have the exact calculations of the deal due to fluctuating incentives, APR’s, Money Factors, and residuals possibly changing every month. However, the selling price should be established even if the final deal hasn't been signed. It’s important to make sure you have documentation or a quote sheet of selling price or deal parameters. If nothing else, you should hopefully have a ballpark of what to expect. Regardless, anyone that has a vehicle on order should have some awareness of what kind of deal they are going to get, even if approximate. So share what you can with that regard so that others, who are considering that option in the future, might have some insight as to what to expect.
The factors to list separately if possible, would be a trade-in or any money due at signing. (DAS). List separately so that the whole picture is established, especially for those cases where money down has significantly impacted the monthly payments. That could be misleading without the whole picture of the deal. Basically what this does is allow for a better gauge of the Effective Monthly Payment, whether leased or financed. Not everyone will know how to calculate the EMP so reach out to someone if you have questions. I realize that it might be difficult to separate the trade-in/money down and adjust the payment amount to reflect an Effective Monthly Payment. Put what you can and if someone has questions i’m sure they will ask. Be as detailed as you like with pertinent information. You can include your APR and term, if financed or Money Factor and Residuals, if leased. Go for it. If you are one of the fortunate people that bought your car out-right, you can still list your final selling price.
One other important reason to understand the Effective Monthly Payment is that you get a more accurate measure of what you are truly paying per month. When it comes to leasing a new car, whether you should or shouldn’t make a down payment depends on your individual situation. A down payment doesn’t help you save money on the overall cost of a lease like it does for an auto loan. However, it does reduce your monthly payment.
On that note, I’ll leave it there as there is way too much information I could go into but I want to keep this thread straightforward.
I want to STRESS this point- this thread is NOT meant to be a debate thread between Leasing Vs. Financing and/or the pros and cons of each. This is strictly meant as a thread for those who would like to share their deals with the group. If possible help others gain insight to the market and help manage expectations. So please do not hijack this thread with that discussion. Trust me there is plenty to be said on the subject so let’s not deviate too much. Just start a new thread! :-)
** If I’ve missed something or something isn’t clear and needs clarifying, please ask. I have reviewed this multiple times and it’s starting to become a bit of a blur!
Lastly, include the date of when the deal was completed so as to get the complete picture. Also, for comparison purposes, only list new car purchase/lease deals. Used and CPO vehicles should not be included.
As an example: My last 2 auto deals
Lease:
2022 ES 350 Ultra Luxury
MSRP $54,265
Disc. $4873 + Rebate $1500 = $6373
Purchase price $47,892
$701 / mo. tax included
36 mos 7.5k (miles per year)
$0 DAS (due @ signing)
ky tax included. 6%
Deal date: January 2022
Lease:
2019 ES 350 Luxury
MSRP $52,008
Disc. + Rebate = $11,382
Purchase price $40,626
$491 / mo. tax included
36 mos 7.5k (miles per year)
$0 DAS (due @ signing)
ky tax included. 6%
Deal date: Dec. 30th 2019
03-05-22, 02:44 PM
#4
Instructor
Thread Starter
A 36month/15,000 mile per year lease:
Leasing a 2022 Ultra Luxury ES350 today with $7,000 down payment would cost $880 plus tax. There are also fees included on top of the $7,000 down payment which are around $3,500 making the total down payment to be around $10,500.
A purchase:
Purchasing this same car with a $10,000 down payment with a 4 year loan at 2.9% would cost $1,026 per month.
Best solution would be to purchase the vehicle and pay it off at the end of 3 years and use its 50% residual resale value of $27,000 to $28,000 as a cash down payment to purchase a brand new 2025 ES350 Ultra Luxury.
Leasing a 2022 Ultra Luxury ES350 today with $7,000 down payment would cost $880 plus tax. There are also fees included on top of the $7,000 down payment which are around $3,500 making the total down payment to be around $10,500.
A purchase:
Purchasing this same car with a $10,000 down payment with a 4 year loan at 2.9% would cost $1,026 per month.
Best solution would be to purchase the vehicle and pay it off at the end of 3 years and use its 50% residual resale value of $27,000 to $28,000 as a cash down payment to purchase a brand new 2025 ES350 Ultra Luxury.
I cannot begin to find the words to explain how completely inaccurate your figures are, especially relating to a lease! That’s why it’s about sharing your experience with a deal or upcoming deal. You did not specify any criteria re: MSRP so there is no relevant starting point for your figures. I can’t even fathom how you arrived at your lease numbers and I can’t even humor a response for that. Your finance numbers aren’t out of the realm of possibility. Even though there isn’t a price point with an MSRP for your finance answer, it is much more feasible of a figure, however. It’s still conjecture primarily because of how you’ve presented the information. But also with how you tend to communicate information and present your answers in a way that tends to lessen your credibility. We are all adults here and even if some tend to gloss over the details and provide pointless posts. There are others who are trying to learn or share experiences to help others by arming them with real experiences and answering relevant questions with helpful answers. It’s tough enough navigating through the car buying/leasing experience even before the pandemic. Now there are even more layers and challenges. I am not an expert and have never claimed to be. With my collective experiences and knowledge of the industry I have been able to be of significant benefit to many so it’s something I enjoy. My advice is never rely on 1 source of info, try to find the answers yourself, then ask for help. In the auto industry so many things are fluid, never assume anything until it’s a done deal. Take the advice and heed the feedback from those that present as respectable and humble. This one is important. It’s ok to sit back and just listen. It’s not always necessary to give feedback unless it’s proven or relevant feedback based in your actual experiences. Trust me, there are plenty of self-perceived experts who love to chime in needlessly. If you have something meaningful or relevant to add or an experience to share, that’s when you should. If it’s conjecture or something that’s been repeated to death maybe scale back. And now I’m going to take my own advice but before I do.
NO ONE is getting good deals financed, leased or otherwise. So there are only bad deals and deals that are the best given the circumstances in this market. I’ve gotten some pretty good deals. Better than just about anyone given this market and this car. Does that mean that the best deal someone gets is always a good deal, of course not. But anyone who touts otherwise or comes to the table with criticism or calls your decision making into question better back it up or risk looking foolish. At the end of the day. It’s my money my choice and I know where it stands.
Last edited by UltraLux22; 03-05-22 at 05:43 PM.
03-05-22, 02:51 PM
#5
It is still still unclear to me why people lease those cars.
03-05-22, 03:16 PM
#6
Instructor
Thread Starter
Anything to add that’s relevant to the original post? If you have a deal to add, I’d love to hear about it. Especially if it’s a better deal!
03-05-22, 04:14 PM
#7
Instructor
Thread Starter
The following users liked this post:
Stoodo (03-06-22)
Trending Topics
03-05-22, 04:25 PM
#8
Instructor
Thread Starter
Not relevant to the original post but since we are here. I would love to get your take on exactly what vehicles at the same price point AND a step up in class that I should look at instead?! I mean that’s not what the intent of this thread was for but you’ve got me genuinely curious as to what examples you are going to provide..
The following users liked this post:
LexFinally (03-05-22)
03-05-22, 04:47 PM
#9
It occurred to me that as most Lexus dealers are selling @ or slightly above MSRP with little to no discounts available. It would appear that now would present a time in the automotive game that most buyers are paying pretty close to the same as others when comparing models, trims, and features. Any other time before this current market, for people like me, the battle for the deal was a welcomed challenge. The quest for the elusive "unicorn" deal as I like to call it. Now, the playing field for some and the battleground for others, has mostly been leveled by current market conditions as most, if not all dealers are asking about the same. There are obviously those dealers that are tacking on options and mark-ups but unfortunately, they still count at the end of the day on that MSRP. Basically the fluctuations for landing a great deal are pretty much gone for most and I thought this was a good time to gauge the pulse of what others have paid around the country. Whether leasing or financing, there can still be some fluctuation there depending on region, rates, incentives, and those annoying add-ons.
So whether leased or financed what deal did you get? If you are waiting on a special order, obviously you won't have the exact calculations of the deal due to fluctuating incentives, APR’s, Money Factors, and residuals possibly changing every month. However, the selling price should be established even if the final deal hasn't been signed. It’s important to make sure you have documentation or a quote sheet of selling price or deal parameters. If nothing else, you should hopefully have a ballpark of what to expect. Regardless, anyone that has a vehicle on order should have some awareness of what kind of deal they are going to get, even if approximate. So share what you can with that regard so that others, who are considering that option in the future, might have some insight as to what to expect.
The factors to list separately if possible, would be a trade-in or any money due at signing. (DAS). List separately so that the whole picture is established, especially for those cases where money down has significantly impacted the monthly payments. That could be misleading without the whole picture of the deal. Basically what this does is allow for a better gauge of the Effective Monthly Payment, whether leased or financed. Not everyone will know how to calculate the EMP so reach out to someone if you have questions. I realize that it might be difficult to separate the trade-in/money down and adjust the payment amount to reflect an Effective Monthly Payment. Put what you can and if someone has questions i’m sure they will ask. Be as detailed as you like with pertinent information. You can include your APR and term, if financed or Money Factor and Residuals, if leased. Go for it. If you are one of the fortunate people that bought your car out-right, you can still list your final selling price.
One other important reason to understand the Effective Monthly Payment is that you get a more accurate measure of what you are truly paying per month. When it comes to leasing a new car, whether you should or shouldn’t make a down payment depends on your individual situation. A down payment doesn’t help you save money on the overall cost of a lease like it does for an auto loan. However, it does reduce your monthly payment.
On that note, I’ll leave it there as there is way too much information I could go into but I want to keep this thread straightforward.
I want to STRESS this point- this thread is NOT meant to be a debate thread between Leasing Vs. Financing and/or the pros and cons of each. This is strictly meant as a thread for those who would like to share their deals with the group. If possible help others gain insight to the market and help manage expectations. So please do not hijack this thread with that discussion. Trust me there is plenty to be said on the subject so let’s not deviate too much. Just start a new thread! :-)
** If I’ve missed something or something isn’t clear and needs clarifying, please ask. I have reviewed this multiple times and it’s starting to become a bit of a blur!
Lastly, include the date of when the deal was completed so as to get the complete picture. Also, for comparison purposes, only list new car purchase/lease deals. Used and CPO vehicles should not be included.
As an example: My last 2 auto deals
Lease:
2022 ES 350 Ultra Luxury
MSRP $54,265
Disc. $4873 + Rebate $1500 = $6373
Purchase price $47,892
$701 / mo. tax included
36 mos 7.5k (miles per year)
$0 DAS (due @ signing)
ky tax included. 6%
Deal date: January 2022
Lease:
2019 ES 350 Luxury
MSRP $52,008
Disc. + Rebate = $11,382
Purchase price $40,626
$491 / mo. tax included
36 mos 7.5k (miles per year)
$0 DAS (due @ signing)
ky tax included. 6%
Deal date: Dec. 30th 2019
So whether leased or financed what deal did you get? If you are waiting on a special order, obviously you won't have the exact calculations of the deal due to fluctuating incentives, APR’s, Money Factors, and residuals possibly changing every month. However, the selling price should be established even if the final deal hasn't been signed. It’s important to make sure you have documentation or a quote sheet of selling price or deal parameters. If nothing else, you should hopefully have a ballpark of what to expect. Regardless, anyone that has a vehicle on order should have some awareness of what kind of deal they are going to get, even if approximate. So share what you can with that regard so that others, who are considering that option in the future, might have some insight as to what to expect.
The factors to list separately if possible, would be a trade-in or any money due at signing. (DAS). List separately so that the whole picture is established, especially for those cases where money down has significantly impacted the monthly payments. That could be misleading without the whole picture of the deal. Basically what this does is allow for a better gauge of the Effective Monthly Payment, whether leased or financed. Not everyone will know how to calculate the EMP so reach out to someone if you have questions. I realize that it might be difficult to separate the trade-in/money down and adjust the payment amount to reflect an Effective Monthly Payment. Put what you can and if someone has questions i’m sure they will ask. Be as detailed as you like with pertinent information. You can include your APR and term, if financed or Money Factor and Residuals, if leased. Go for it. If you are one of the fortunate people that bought your car out-right, you can still list your final selling price.
One other important reason to understand the Effective Monthly Payment is that you get a more accurate measure of what you are truly paying per month. When it comes to leasing a new car, whether you should or shouldn’t make a down payment depends on your individual situation. A down payment doesn’t help you save money on the overall cost of a lease like it does for an auto loan. However, it does reduce your monthly payment.
On that note, I’ll leave it there as there is way too much information I could go into but I want to keep this thread straightforward.
I want to STRESS this point- this thread is NOT meant to be a debate thread between Leasing Vs. Financing and/or the pros and cons of each. This is strictly meant as a thread for those who would like to share their deals with the group. If possible help others gain insight to the market and help manage expectations. So please do not hijack this thread with that discussion. Trust me there is plenty to be said on the subject so let’s not deviate too much. Just start a new thread! :-)
** If I’ve missed something or something isn’t clear and needs clarifying, please ask. I have reviewed this multiple times and it’s starting to become a bit of a blur!
Lastly, include the date of when the deal was completed so as to get the complete picture. Also, for comparison purposes, only list new car purchase/lease deals. Used and CPO vehicles should not be included.
As an example: My last 2 auto deals
Lease:
2022 ES 350 Ultra Luxury
MSRP $54,265
Disc. $4873 + Rebate $1500 = $6373
Purchase price $47,892
$701 / mo. tax included
36 mos 7.5k (miles per year)
$0 DAS (due @ signing)
ky tax included. 6%
Deal date: January 2022
Lease:
2019 ES 350 Luxury
MSRP $52,008
Disc. + Rebate = $11,382
Purchase price $40,626
$491 / mo. tax included
36 mos 7.5k (miles per year)
$0 DAS (due @ signing)
ky tax included. 6%
Deal date: Dec. 30th 2019
03-05-22, 05:20 PM
#10
Driver School Candidate
Lease to Purchase
It occurred to me that as most Lexus dealers are selling @ or slightly above MSRP with little to no discounts available. It would appear that now would present a time in the automotive game that most buyers are paying pretty close to the same as others when comparing models, trims, and features. Any other time before this current market, for people like me, the battle for the deal was a welcomed challenge. The quest for the elusive "unicorn" deal as I like to call it. Now, the playing field for some and the battleground for others, has mostly been leveled by current market conditions as most, if not all dealers are asking about the same. There are obviously those dealers that are tacking on options and mark-ups but unfortunately, they still count at the end of the day on that MSRP. Basically the fluctuations for landing a great deal are pretty much gone for most and I thought this was a good time to gauge the pulse of what others have paid around the country. Whether leasing or financing, there can still be some fluctuation there depending on region, rates, incentives, and those annoying add-ons.
So whether leased or financed what deal did you get? If you are waiting on a special order, obviously you won't have the exact calculations of the deal due to fluctuating incentives, APR’s, Money Factors, and residuals possibly changing every month. However, the selling price should be established even if the final deal hasn't been signed. It’s important to make sure you have documentation or a quote sheet of selling price or deal parameters. If nothing else, you should hopefully have a ballpark of what to expect. Regardless, anyone that has a vehicle on order should have some awareness of what kind of deal they are going to get, even if approximate. So share what you can with that regard so that others, who are considering that option in the future, might have some insight as to what to expect.
The factors to list separately if possible, would be a trade-in or any money due at signing. (DAS). List separately so that the whole picture is established, especially for those cases where money down has significantly impacted the monthly payments. That could be misleading without the whole picture of the deal. Basically what this does is allow for a better gauge of the Effective Monthly Payment, whether leased or financed. Not everyone will know how to calculate the EMP so reach out to someone if you have questions. I realize that it might be difficult to separate the trade-in/money down and adjust the payment amount to reflect an Effective Monthly Payment. Put what you can and if someone has questions i’m sure they will ask. Be as detailed as you like with pertinent information. You can include your APR and term, if financed or Money Factor and Residuals, if leased. Go for it. If you are one of the fortunate people that bought your car out-right, you can still list your final selling price.
One other important reason to understand the Effective Monthly Payment is that you get a more accurate measure of what you are truly paying per month. When it comes to leasing a new car, whether you should or shouldn’t make a down payment depends on your individual situation. A down payment doesn’t help you save money on the overall cost of a lease like it does for an auto loan. However, it does reduce your monthly payment.
On that note, I’ll leave it there as there is way too much information I could go into but I want to keep this thread straightforward.
I want to STRESS this point- this thread is NOT meant to be a debate thread between Leasing Vs. Financing and/or the pros and cons of each. This is strictly meant as a thread for those who would like to share their deals with the group. If possible help others gain insight to the market and help manage expectations. So please do not hijack this thread with that discussion. Trust me there is plenty to be said on the subject so let’s not deviate too much. Just start a new thread! :-)
** If I’ve missed something or something isn’t clear and needs clarifying, please ask. I have reviewed this multiple times and it’s starting to become a bit of a blur!
Lastly, include the date of when the deal was completed so as to get the complete picture. Also, for comparison purposes, only list new car purchase/lease deals. Used and CPO vehicles should not be included.
As an example: My last 2 auto deals
Lease:
2022 ES 350 Ultra Luxury
MSRP $54,265
Disc. $4873 + Rebate $1500 = $6373
Purchase price $47,892
$701 / mo. tax included
36 mos 7.5k (miles per year)
$0 DAS (due @ signing)
ky tax included. 6%
Deal date: January 2022
Lease:
2019 ES 350 Luxury
MSRP $52,008
Disc. + Rebate = $11,382
Purchase price $40,626
$491 / mo. tax included
36 mos 7.5k (miles per year)
$0 DAS (due @ signing)
ky tax included. 6%
Deal date: Dec. 30th 2019
So whether leased or financed what deal did you get? If you are waiting on a special order, obviously you won't have the exact calculations of the deal due to fluctuating incentives, APR’s, Money Factors, and residuals possibly changing every month. However, the selling price should be established even if the final deal hasn't been signed. It’s important to make sure you have documentation or a quote sheet of selling price or deal parameters. If nothing else, you should hopefully have a ballpark of what to expect. Regardless, anyone that has a vehicle on order should have some awareness of what kind of deal they are going to get, even if approximate. So share what you can with that regard so that others, who are considering that option in the future, might have some insight as to what to expect.
The factors to list separately if possible, would be a trade-in or any money due at signing. (DAS). List separately so that the whole picture is established, especially for those cases where money down has significantly impacted the monthly payments. That could be misleading without the whole picture of the deal. Basically what this does is allow for a better gauge of the Effective Monthly Payment, whether leased or financed. Not everyone will know how to calculate the EMP so reach out to someone if you have questions. I realize that it might be difficult to separate the trade-in/money down and adjust the payment amount to reflect an Effective Monthly Payment. Put what you can and if someone has questions i’m sure they will ask. Be as detailed as you like with pertinent information. You can include your APR and term, if financed or Money Factor and Residuals, if leased. Go for it. If you are one of the fortunate people that bought your car out-right, you can still list your final selling price.
One other important reason to understand the Effective Monthly Payment is that you get a more accurate measure of what you are truly paying per month. When it comes to leasing a new car, whether you should or shouldn’t make a down payment depends on your individual situation. A down payment doesn’t help you save money on the overall cost of a lease like it does for an auto loan. However, it does reduce your monthly payment.
On that note, I’ll leave it there as there is way too much information I could go into but I want to keep this thread straightforward.
I want to STRESS this point- this thread is NOT meant to be a debate thread between Leasing Vs. Financing and/or the pros and cons of each. This is strictly meant as a thread for those who would like to share their deals with the group. If possible help others gain insight to the market and help manage expectations. So please do not hijack this thread with that discussion. Trust me there is plenty to be said on the subject so let’s not deviate too much. Just start a new thread! :-)
** If I’ve missed something or something isn’t clear and needs clarifying, please ask. I have reviewed this multiple times and it’s starting to become a bit of a blur!
Lastly, include the date of when the deal was completed so as to get the complete picture. Also, for comparison purposes, only list new car purchase/lease deals. Used and CPO vehicles should not be included.
As an example: My last 2 auto deals
Lease:
2022 ES 350 Ultra Luxury
MSRP $54,265
Disc. $4873 + Rebate $1500 = $6373
Purchase price $47,892
$701 / mo. tax included
36 mos 7.5k (miles per year)
$0 DAS (due @ signing)
ky tax included. 6%
Deal date: January 2022
Lease:
2019 ES 350 Luxury
MSRP $52,008
Disc. + Rebate = $11,382
Purchase price $40,626
$491 / mo. tax included
36 mos 7.5k (miles per year)
$0 DAS (due @ signing)
ky tax included. 6%
Deal date: Dec. 30th 2019
Updated numbers! We leased our 2020 ES350 Luxury in January of 2020, and thought we would just replace the ES350 every three years. My wife sells real estate so it is a business write off. The sticker was $47100. The capitalized cost was $46,127 with addition of a security system we did not want. Based on $3124 down out payment is $527 before taxes, after tax $568, (California state and local) with residual of $24,492 on a 3 year, 10K mile per year lease. This coming January 2023 we will purchase the car as the values have shot way up over the last two years due to supply chain issues on new cars. Additionally, we are way under on the mileage, due to Covid, so we should be around 18K miles by next January. I hope we got a good deal, we have purchased a few cars from this dealership. You tell me!
Last edited by Solana; 03-06-22 at 02:00 PM.
03-05-22, 05:50 PM
#12
Instructor
Thread Starter
We leased our 2020 ES350 Ultra in January of 2020, and thought we would just replace the ES350 every three years. My wife sells real estate so it is a business write off. The lease was based on $43K, $2500 down, $568 per month, tax included in California, (California and local taxes are 8.75%) with residual of $24K on a 3 year, 10K mile per year lease. This coming January 2023 we will purchase the car as the values have shot way up over the last two years due to Covid, approx. $10K on new ES. Additionally, we are way under on the mileage, also due to Covid, so we should be around 18K miles by next January. I hope we got a good deal, we have purchased a few cars from this dealership. You tell me!
Last edited by UltraLux22; 03-05-22 at 11:18 PM.
03-06-22, 10:40 AM
#13
Lexus Test Driver
A 36month/15,000 mile per year lease:
Leasing a 2022 Ultra Luxury ES350 today with $7,000 down payment would cost $880 plus tax. There are also fees included on top of the $7,000 down payment which are around $3,500 making the total down payment to be around $10,500.
A purchase:
Purchasing this same car with a $10,000 down payment with a 4 year loan at 2.9% would cost $1,026 per month.
Best solution would be to purchase the vehicle and pay it off at the end of 3 years and use its 50% residual resale value of $27,000 to $28,000 as a cash down payment to purchase a brand new 2025 ES350 Ultra Luxury.
Leasing a 2022 Ultra Luxury ES350 today with $7,000 down payment would cost $880 plus tax. There are also fees included on top of the $7,000 down payment which are around $3,500 making the total down payment to be around $10,500.
A purchase:
Purchasing this same car with a $10,000 down payment with a 4 year loan at 2.9% would cost $1,026 per month.
Best solution would be to purchase the vehicle and pay it off at the end of 3 years and use its 50% residual resale value of $27,000 to $28,000 as a cash down payment to purchase a brand new 2025 ES350 Ultra Luxury.
The following 2 users liked this post by mikemu30:
dklanecky1 (03-07-22),
mattsrs (03-06-22)
03-06-22, 01:00 PM
#14
Driver School Candidate
Correction
Thank you for sharing. However, MSRP for an Ultra luxury would be much higher than 43k. It’s important for reference purposes to start there. And provide how your deal went from MSRP of at least $50’s TO 43k. and then minus rebates or discounts. So sounds like something is missing. Was there a trade? Rebates and discounts tend to be less at the beginning of a new year but there are times when the very first part of the month of January that still could count' for the previous year for a dealer so it very well could be they needed those last few sales. However, I am not as familiar with California processes as they have some quirky tax situations but regardless. I appreciate you sharing your deal. The bottom line is, if you have a great relationship with your dealer and you are happy with your choice, that is what matters. The Lexus experience can be much more than just the car itself, it is an experience that is different than other brands I've worked with before. Good luck!
Last edited by Solana; 03-06-22 at 02:12 PM.
03-06-22, 03:39 PM
#15
Instructor
Thread Starter
I do need to correct my post we did not go for the Ultra, we did not feel we needed the HUD, kick trunk release etc. We leased the luxury with panoramic sunroof. So my numbers may not reflect what your planning to purchase. See attached for our details. Although since 2020 prices have increased.
I've noticed there is still quite the disparity in people's perceptions and expectations for the current car market versus what they were accustomed to before the pandemic. Since this is the ES forum, I felt those in the market that might not know what to expect could benefit from other's experiences and interactions. This would be a great chance for forum members that have recently purchased or leased a new ES to share real world deals and prices.
To my knowledge, market conditions have never seen such unprecedented times. Where customers are paying such similar prices to each other as most autos are being sold at MSRP or higher.
Considering how many posters have mentioned getting 2022 models, especially those getting their new Ultra Lux.'s. Hopefully some will provide some helpful info to others who might need it.
Last edited by UltraLux22; 03-06-22 at 10:27 PM.