Hi, just wondering how I did. Hopefully you guys will tell me I have a december to remember moment with this deal. Wish I knew about this site sooner. Thank you to everyone who replies with any advice.

2015 GS350 F Sport

Ultra White / Cabernet

36 month / 10k yr

MSRP $58,500

Lexus Rebate $4,500

$0 down, I paid dmv & reg fees of $160

NY sales tax 8.625% built into my monthly payments

$509 per month

Thank you again!
EDIT: lexus paid first months payment of 509

 

So the only drive off fees you paid that day was $160 correct? Everything else was rolled into the lease payment like $700 Acq fee etc.? What was your net cap cost?

 

Correct, I only gave the dealership $160 and everything else was built into the monthly payment such as acquisition, bank, etc fees. I don't know my net cap cost off the top of my head but I do know my purchase option is around $33,500 at lease maturity and .25 for excess mileage. I'm new to this so forgive my ignorance. Thank you

 

That's a good deal.

 

Since you did 36/10K the residual should have been 58% which gives a residual of $33930. $33,500 is at 57% which would be 36/12K. Did you do 10K or 12K? Based on you numbers your net cap cost was around $48,300. What was the money factor that they used?

 

Did you trade any vehicle for it?
if you're not buying it in the end, then that's a good deal

 

Just spoke to my sales rep and he said my cap cost off the top of his head, which is the selling price used to base my payments off of is about 51-52k. He was with a customer and he said I got the car below cost and I did very well........ not like he's gonna say I did bad lol

 

I did 10k miles. Yes, my original residual (purchase option on my customer disclosure sheet) was around $33,932 at a monthly payment of 517 but then I renegotiated the monthy payment down to 509 so i just guessed the new purchase option of 33,500. I don't know my money factor, sorry. As you can probably tell I'm new to this, are you able to figure it out by back tracking the figures I have provided?

 

I didn't trade anything in. They offered to make my last month's payment on my current non-lexus lease but I had already made. No plans to buy the car I'll just lease another car.

 

Remember when the lease period is completed and you elect to purchase the car you can work with the dealership to lower the price. You haggle just as if you were buying a used car.
Sometimes people who lease forget to haggle CAP or MSRP before leasing and after leasing to purchase the car. When I leased my first MBS E350 SPort (2012) the MSRP was $58K and I was able to get $10K off. When I returned, I was asked if I wanted to get into another lease or purchase (via through MBZ financial) I asked MBZ how much for purchase and they said I would have to negotiate a deal. I decided to lease a 2014 instead but the lease deals ended and the price went up $100 bucks a month.

 

I asked my last leasing company (honda) about negotiations on buying my car out at maturity and they said no negotiations because I had a closed end lease.

 

I doubt it. But you did get a good deal. Congrats on the new car!

 

Which dealership did you go with?

 

I didn't know about money factor until now, what would a fair percentage be for someone with excellent credit?

 

I doubt it. But you did get a good deal. Congrats on the new car![/QUOTE]

Thank you