Cerulean99

I live in NY and came across the current lease promotion for the GS AWD:So I contacted the local dealership and asked them for the sale price, money factor, and residual:When I plug in these numbers in to the lease calculator at RidewithG, the monthly payment is still $90 higher than 469/mo, even after I deduct the $3099 from the cap cost. So what am I missing here? Can someone explain how they can come up with the $469/mo number?

SW17LS

I'm getting the same as you...$558.93...

rominl

iTrader: (4)

is the 469 including tax?

on the other hand, just in case, maybe check with them to make sure the residual value at 64% is with 10k miles/yr

NewSpace

seems like everyone is leasing. i envy you guys who can get away with a lease. i drive 25,000 miles/year, so it's a no-go for me.

SW17LS

Even without tax I get $558.93, adding in tax would make it more...

Checked the numbers at 66%, its $518.13, at 68% its $477.36.

flippd

Yeah, I think residual is higher for 27 / 10. It's 72% for the IS for 27 / 10, though that is newer.

rominl

iTrader: (4)

with that kind of mileage you are far better off buying anyway

Cerulean99

Thanks everyone for your input.

It seems they are doing some creative leasing terms. I went in to test drive the GS, and the person I previously contacted was on her day off. So I asked the same question about sale price, residual and MF to the other sales guy, and he comes with completely different sale price and residual - and that's from the same dealership. When I asked them about the discrepancy, they told me that they just put the numbers into the computer and it comes out that way and couldn't explain why. When I told them either set of numbers did not come out to a $469/mo payment on my lease calculator, they said my lease calculator was wrong - by more than $90/mo! The dealership is New Country Lexus of Westport, CT.

Also, does anyone know whether the current "Golden Opportunity" lease sale can be combined with the $2500 lease cash back? I asked them to combine the two, and they said I can either have one or the other, but not both.

SW17LS

Well, at least it's an error in your favor...

rominl

iTrader: (4)

that's how i think about it too

but on the other hand those are some pretty sorry lazy salesperson. if they can't even get the numbers to fall into place, how am i going to trust anything they say? very disappointing. i would just ask them to bring out one of their finance person to explain

those online calculators are actually quite accurate. bankrate one is always the one i use. for my previous leases, i actually got it accurate down to the dollar (with and without tax). cents were off but that's close enough

StonedCL

Are you using the $2500 rebate as cap cost reduction?
The add does not include taxes and fees..

SW17LS

The salespeople don't surprise me. In my experience in general they aren't very bright, and they don't actually understand leasing very well (to their credit, its complex...but it is a big part of what they do). I've even had the finance people make errors and I have had to correct them. Sometimes I think they were trying to pad the deal, sometimes I think they just calculated it wrong. I've had payments calculated by dealers over $100 more per month than they should be.

The online calculator can't be wrong...its just a calculator. Its as correct as the data thats put into it.

My fear for the OP would be he would get 90% to the end of the deal and then suddenly it would be $90 more per month. I had that happen on the GS, I knew they were wrong...and they caught it at the end (they were using the Premium residual on my Luxury lease). Since I knew that would likely happen I proceeded.