ericg320

I've never leased a car before so this is all new to me.

I got an original offer of $5400 at signing $540/month 36 months 12K/per MSRP $52,500 for a 2013 GS350.

I then had a friend call some one he knew at Lexus and have been offered this:


$4000 $550/month 36months 12K MSRP $59,800





Also wondering if I can ask them to place the non luxury package split 5 spokes on there instead of the 9.

Any other comments or suggestions are really appreciated.

600rr05

iTrader: (9)

seems like a good deal but Lexus is having the following offer http://www.yourlexusdealer.com/San_Diego/index.html

ericg320

Thanks but don't each states have their own lease specials?


I'm trying to close this deal tomorrow.


Any help would be greatly appreciated.

LexFather

What is the money factor? It should be very low for the GS in the .0015 range or even lower. For a lease you never put money down unless you have to. I think they are asking for too much down.

I thought there was a nationwide premium lease for $529 or so with 2k down and Lexus pays the first payment. Make sure your dealer is up to date with all the offers for December to Remember as they are aggressive.

SW17LS

Yeah and not all dealers are abreast of the incentives, especially on a lower volume car like the GS. The salesman I spoke to yesterday was totally unaware of the $1,500 loyalty rebate on the GS, although he knew of the one on the RX...since he sells way more of them.

Does anybody have a good idea of what the money factor indeed is on the GS? Residual for 15k @ 36 months is 60%. I was told .0020 but that didn't come from the finance manager, seems a little high to me. Waiting on an email with an official offer in writing.

1sWt2GS

iTrader: (6)

have you thought about buying a used 4th gen?

it'd be cheaper down the line at least IMO

1111GS

I think that's a great deal. I bargained with my dealer a deal higher than this and they basically said something similar to "get lost". I thought that was insulting. I'm sure your friend had something to do with it. 4000 is not bad for a down payment. Yes, I don't want to pay up front too much when you lease, but when you want to lower the monthly payment to your comfort level, you'll have to pay a little more up front. It's either you pay up front or spread it out the lease term. Just make sure you do your math and won't let them fool you around with these numbers. I bring calculator with me when I deal with them. I paid 2500 as total drive off. Some people will throw rocks at me, but to me, when I lease, I don't plan to buy the car at the end of the lease, so I only care for a few numbers: mileage allowance, lease term, down payment, monthly payment. If I'm comfortable with those numbers, I'll take the deal. I would care less for other numbers (residual values, interests, money factors...) But that's just me. Good luck!

ericg320

That's for a 52K premium(10K miles) this is a 60K fully loaded luxury (12K miles)

I called 2 other dealerships and they said they couldn't get me under 600+ per and $5400 down

Seems like a great deal.

ericg320

Oh and my guy said it was .000783

He said the equivalent of less than 2% APR

Anyone know?

faifai83

1.88% APR is okay.

Are you doing multiple security deposits?

ericg320

Can I get better?

No security deposit

faifai83

Yes, you can do much better, if you're willing to take your down payment and use towards MSD.

Request for $0 down payment and put down up to 7 MSD to reduce money factor.

SW17LS

No, they will pay your first month's payment up to $850 on any lease on the GS, its part of the December to Remember deal, they also will give you $1,500 conquest or loyalty rebates.

If you can get $5k off the luxury including the loyalty (which they had literally written on the car...no negotiating at all...I think I may be able to even do better than that), at 12k miles per year the residual is 61% I believe, if the money factor is .000783...

With $5400 down I get a payment of $440.43, not including taxes (since I don't know where you live or how they handle taxes there on a lease). That does include wrapping the $700 acquisition fee in as well as $300 for tags. I attached a printout below.

I also did a calculation with you paying full sticker price and that came out to $600 a month with 5400 down.

So...this is why you have to negotiate the terms and not just the payment. When you get the terms down as good as you can get them...the low payment comes from that...

faifai83

Do $0 down payment...Would you put a deposit down for an apartment to reduce your monthly rent?

Use your down payment as MSD to reduce your money factor. You will get a refund at the end of your lease.

SW17LS

Right...if you're comfortable with $600 a month, don't put the $5,400 down...just negotiate $5,400 off the price of the car and there you are.

Now, obviously taxes factor in there...but the money factor they are offering is VERY low. My guess is thats what they are doing, reducing the money factor because they're making a killing on the car.