Help, first luxury car purchase, first lease, need advice
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We are looking at getting into our first real luxury car. We like the GS350 AWD Luxury package and are looking to lease. Before I go to the dealer I need to get an idea of what negotiating points I should bring up (current or past incentives that they may still honor). The car has an MSRP of $59,412.00. This includes Luxury Package w/ Cold Weather Package, Blind Spot monitoring, Intuitive Park Assist, and Assy Pkg (Trunk Mat, Cargo Net, Wheel Locks). This price includes the $895.00 processing fee.
I have been researching leasing a vehicle and it seems like the main factors are sales price, money factor, residual value, and miles per year.
So here are the things I am hoping to get some input on:
- What ballpark price should I be able to negotiate this car to?
-What money factor should I be expecting (We have stellar credit), is money factor negotiable at all after it is stated from Lexus financial
-We are probably going to go with the 10,000 miles/yr lease because my wife will be driving the car and her job is about a 3 minute commute one way. What residual value should I expect on a 36 month and 48 month lease? Is residual value negotiable.
Sorry for all the questions, but with this being our first luxury purchase and lease I want to make sure I go back to the dealer with a full deck of cards to play with. We are in VA if that matters at all.
Thanks so much for your help, really looking forward to joining the GS350 Club!!
I have been researching leasing a vehicle and it seems like the main factors are sales price, money factor, residual value, and miles per year.
So here are the things I am hoping to get some input on:
- What ballpark price should I be able to negotiate this car to?
-What money factor should I be expecting (We have stellar credit), is money factor negotiable at all after it is stated from Lexus financial
-We are probably going to go with the 10,000 miles/yr lease because my wife will be driving the car and her job is about a 3 minute commute one way. What residual value should I expect on a 36 month and 48 month lease? Is residual value negotiable.
Sorry for all the questions, but with this being our first luxury purchase and lease I want to make sure I go back to the dealer with a full deck of cards to play with. We are in VA if that matters at all.
Thanks so much for your help, really looking forward to joining the GS350 Club!!
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Before negotiating a lease or finance, (or even your trade, if any), negotiate the lowest sales price possible.
Here is a lease calculator that will help you determine how goo the lease deal is:
http://www.ridewithg.com/calculator/index.html
In California, the money factor for the 2013 GS is 0.0005. I am not sure what it is in Virginia. Ask several dealers in your area.
Residual will vary depending on the vehicle, miles per year, and length of lease. I believe the GS residual is 62% on a 27 month lease and 57% for a 36 month lease with 15k miles per year. Add 2% for 12k per year and 3% for 10k per year. (my reference: http://www.ridewithg.com/index.php/2...tes-july-2013/)
Some other folks on here may have better resources, so they may be able to give you more accurate info for August.
Here is a lease calculator that will help you determine how goo the lease deal is:
http://www.ridewithg.com/calculator/index.html
In California, the money factor for the 2013 GS is 0.0005. I am not sure what it is in Virginia. Ask several dealers in your area.
Residual will vary depending on the vehicle, miles per year, and length of lease. I believe the GS residual is 62% on a 27 month lease and 57% for a 36 month lease with 15k miles per year. Add 2% for 12k per year and 3% for 10k per year. (my reference: http://www.ridewithg.com/index.php/2...tes-july-2013/)
Some other folks on here may have better resources, so they may be able to give you more accurate info for August.
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What lease deals should I be aware of in VA? I have heard that the first month's payment is being made. Also, I know earlier in the summer they were offering $2500.00 rebate. Basically trying to figure out what sales price I should be satisfied with.
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Howie,
What sales price were you able to negotiate to? Even though it is a lease, I have always been a believer of get the sales price right then we will figure out the payments.
What sales price were you able to negotiate to? Even though it is a lease, I have always been a believer of get the sales price right then we will figure out the payments.
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Xclusiv,
You think I should be able to shoot for a little under 10% discount before the $2500 incentive? I would definitely jump all over that car for $52,500-$53,500.
You think I should be able to shoot for a little under 10% discount before the $2500 incentive? I would definitely jump all over that car for $52,500-$53,500.
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Okay, starting negotiations with the dealer. Looks like I am settling in on the GS350AWD Luxury Package with Cold Weather Package, with Blind Spot Monitoring, Intuitive Park Assist, and Rear Spoiler.
Base Car: $49,800
Luxury Pkg w/ Cold Weather Pkg: $6,090
Navigation 12.3" screen: $1,735
Blind Spot Monitoring: $500
Intuitive Park Assist: $500
Assy Pkg (trunk mat, cargo net, $242
wheels locks)
Processing Fee: $895
MSRP Total: $60,157.00
Dealer is initially offering a discount of $4577.00 not including the $2500.00 lease incentive and Lexus covering the first lease payment.
I feel like it is a good starting point but really feel like i should shoot for 10% discount of MSRP which should be roughly $6000.00. What are your guys feelings? Is the dealer treating me good off the bat or do I need to go back playing hardball?
Base Car: $49,800
Luxury Pkg w/ Cold Weather Pkg: $6,090
Navigation 12.3" screen: $1,735
Blind Spot Monitoring: $500
Intuitive Park Assist: $500
Assy Pkg (trunk mat, cargo net, $242
wheels locks)
Processing Fee: $895
MSRP Total: $60,157.00
Dealer is initially offering a discount of $4577.00 not including the $2500.00 lease incentive and Lexus covering the first lease payment.
I feel like it is a good starting point but really feel like i should shoot for 10% discount of MSRP which should be roughly $6000.00. What are your guys feelings? Is the dealer treating me good off the bat or do I need to go back playing hardball?
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I think you should be able to get more. I'm in Cali and have worked my dealer down from $58,617 to $52,200 (not counting the $2500 lease incentive or 1st lease payment). That is a $6417 discount (10.95%). This is for an F-Sport w/ML, blind spot, and a few other goodies.
#13
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Thats SoCal. You can't replicate a deal in SoCal anywhere else in the country.
To the OP: Where in VA? I have several contacts from my multiple Lexus purchases in the DC area. One at Pohanka, one at Alexandria & one at Rockville (where I bought the GS)
To the OP: Where in VA? I have several contacts from my multiple Lexus purchases in the DC area. One at Pohanka, one at Alexandria & one at Rockville (where I bought the GS)
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SW,
I am in Mechanicsville, just north of Richmond. I have been working with the dealer in Richmond initially but was going to contact Alexandria also. Please let meh know if you have anyone I should contact that is ready to make a good deal with a serious buyer.
I am in Mechanicsville, just north of Richmond. I have been working with the dealer in Richmond initially but was going to contact Alexandria also. Please let meh know if you have anyone I should contact that is ready to make a good deal with a serious buyer.
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I will PM you with a couple names...