COGF16

iTrader: (1)

I was just at the dealer last night and noticed an '07 350 AWD demo they had and it piqued my interest. Sales Manager told me she would sell it for $1000 below the invoice of $45000 It is a $50,600 car with nav and no ML 3800 miles. I would be trading in my '06 AWD, lease, essentially the same car, with 32k miles. I would do it basically for the bigger engine and better nav and bluetooth. What do you think? I need to evaluate any penalty I would incur for the early lease turn in and I think that $1000 below invoice is not enough. Thoughts??

Thanks

Yang1815

iTrader: (1)

Definitely not enough. Not even if it had less than 100 miles.

ek9vboi

iTrader: (3)

Yang is correct. We've had a few threads like this before and going with a demo car isn't just a good idea. Who knows what could have been done to the car within that amount of miles, what type of gas, etc.

For $45,000 I would go buy a brand new one. Given that I didn't buy an AWD model, but a RWD for $46,500 (including TTT.) Not to mention, it is fully loaded with navi, parking sensors, ML, etc... all of it.

I would suggest picking u[ a brand new car, a few grand isn't going to hurt your payments any. 10-30 bucks over a span of 3-5 years. IMO, its worth it or just stay with the current car you have. 06 GS300 AWD correct? Still a nice car.

flipside909

How much down did you put and did you have a trade?

ahearn

Furthermore, trading a leased vehicle is almost never a good idea. Lease payments being so low prevents your lease balance from catching up with a car's depreciation until near the end of the lease. The negative equity that you would have to roll into your next car would be very high -- or you would have to make a large down payment to offset the negative equity. Some dealers have been known tell customers they are "trading" when they really return the car to the lease company. A couple of months later the customer gets a huge bill from the lease company for an early termination.

ek9vboi

iTrader: (3)

That really had nothing to do with the purchase price of the car. BTW I put down $9k and no trade-in, but I could have also gone zero down like my cousin when he had purchased his like 2 weeks before me. Basically he did all the talking and I just walked in and got his deal. lol

GiSmo350

^ so u got the car for 46500 out the door w/ everything included? WOW...I need ur cousin to negotiate for me next time. Thats a smokin deal.

ek9vboi

iTrader: (3)

Yeah, keep in mind this is an 07, not an 08.

flipside909

It's a little misleading to say you got the car for $46500 out the door since you put a $9,000 down payment. It definitely has something to do with the purchase price of the car because no one can buy an almost $52k MSRP car for that amount of money you stated. Everyone has to pay TTL. You can't just expect anyone to buy a car that low out the door since invoice price on that particular GS is around $45,500 for 2007.

Edit:

If your GS MSRP was roughly $51.5 and you put $9000 down, that brings the purchase price of the car to $42.5. That amount plus taxes (depending on your state's tax rate and licensing fees) is roughly around $4-5k. This puts you on par with $46.5 depending if you added any items like extended warranty or whatever add'l charges the dealer tacked on.

socalJD

How much longer on your lease ? If you have <12 mos left, I'd ride the lease out and take your chances then. You just missed the D2R lease rates, so any lease now will have higher MFs and prolly lower residuals. The next lease promo will be the golden opportunity in Sept when Lexus tries to blow out the current MY. Remember when leasing, price is only 1 factor, you also need favorable MFs and residuals to make the lease attractive . . .

ek9vboi

iTrader: (3)

Trust me, I have nothing to hide. I bought the car on 11/15 (day before my b-day, lucky me) so it might have been something to do with end of the year type of sale. Yes it is a $51,300 car, but with a co-signer with a credit score of 8XX they were willing to let us walk out of the dealership with zero down. My cousin who is on this forum, thats exactly what he did. Given he had a high credit score, he also had a home, business, etc. Either way, once the car is financed, the dealer get their money.

We paid $46,400 out the door. no extras, except gap insurance. in fact, i still owe 36k or so on the car. it might be hard to believe, i didnt believe it myself when people were saying they had bought a GS350 w/ navi for 42-44k. I easily saved roughly $7500, if not more (did a rough calc on the tax) on a fully loaded gs350. the 9k was part of the payment towards the total of the car ($46,400)