Lease Deal Help!!
10-22-14, 05:37 PM
#16
Lexus Fanatic
Do you mind sharing with us the deal you're looking for? We can help tell you if its reasonable or not.
10-22-14, 06:04 PM
#17
Driver School Candidate
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MSRP was $58k GS350 FSport Liquid Platinum
Dealer agreed on $50k
Trade value of 30k ( 5k negative equity on trade. I knew this before hand. I know it's not smart but I love the GS and was willing to roll into new vehicle)
at 15k miles per year w $1500 down they were at $760 per month
At 12k miles per year w $1500 down they were at $690 per month
My bottom line was 12k miles per year $1500 down at $625. So we are about $65-$70 apart.
What do you guys think?
Dealer agreed on $50k
Trade value of 30k ( 5k negative equity on trade. I knew this before hand. I know it's not smart but I love the GS and was willing to roll into new vehicle)
at 15k miles per year w $1500 down they were at $760 per month
At 12k miles per year w $1500 down they were at $690 per month
My bottom line was 12k miles per year $1500 down at $625. So we are about $65-$70 apart.
What do you guys think?
10-22-14, 06:17 PM
#18
Lexus Fanatic
I think thats a terrible deal.
First off...take your trade out of the equation and have them quote you just on the new GS. Also we need to know the term (36 months, 27 months, etc), the residual and the money factor. I'm certain money is being hidden in the money factor.
As for your trade, why are you trading it? Are you over miles? How much longer until the lease is up? Get some independent evaluations...take it to CarMax, etc. Do you know what the payoff is?
I know you love the GS, but sometimes the right thing to do is just wait until your situation is better. I almost pulled the trigger on a new ES, I waited 6 months and would up with a GS for less money because my trade situation was no longer upside down and the market had softened.
First off...take your trade out of the equation and have them quote you just on the new GS. Also we need to know the term (36 months, 27 months, etc), the residual and the money factor. I'm certain money is being hidden in the money factor.
As for your trade, why are you trading it? Are you over miles? How much longer until the lease is up? Get some independent evaluations...take it to CarMax, etc. Do you know what the payoff is?
I know you love the GS, but sometimes the right thing to do is just wait until your situation is better. I almost pulled the trigger on a new ES, I waited 6 months and would up with a GS for less money because my trade situation was no longer upside down and the market had softened.
10-23-14, 05:26 AM
#19
Lexus Test Driver
Well based on the info above:
$5,000 upside down on a 36m lease its about $140/m
27m lease $185
on a 36m lease: if the payments are $690/m - $140= $550 just for the car.
if its a 27m lease: $690/m - $180= $504 just for the car
Also, on your $30,000 trade you may have tax credit of roughly $1,500 (depend on the state)
It doesn't sound all that bad but we don't have all the details like MF used, was the TAX break applied etc..
To be at $625/m you would have to keep negotiating or better just go down there (more likely to get a better deal when you there), ask for more money on a trade, better MF perhaps, Ask them if they have a TAX break etc.
Another thing to keep in mind, you can post your vehicle for sale on Craigs List, but let the dealer do the transaction for you, they will take care of everything all you do is bring the customer there. I have done that in the past, the dealer charged $125 the buyer and that 's it.
$5,000 upside down on a 36m lease its about $140/m
27m lease $185
on a 36m lease: if the payments are $690/m - $140= $550 just for the car.
if its a 27m lease: $690/m - $180= $504 just for the car
Also, on your $30,000 trade you may have tax credit of roughly $1,500 (depend on the state)
It doesn't sound all that bad but we don't have all the details like MF used, was the TAX break applied etc..
To be at $625/m you would have to keep negotiating or better just go down there (more likely to get a better deal when you there), ask for more money on a trade, better MF perhaps, Ask them if they have a TAX break etc.
Another thing to keep in mind, you can post your vehicle for sale on Craigs List, but let the dealer do the transaction for you, they will take care of everything all you do is bring the customer there. I have done that in the past, the dealer charged $125 the buyer and that 's it.
Last edited by FastTags; 10-23-14 at 05:35 AM.
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