Aristanet

I finally picked up my new truck few days ago. I'm kind of curious what kind of deal i got. Lease on my LS430 is up in a couple of month and i'm thinking if i should go back to the same dealer.

Here is what i got: 07 GX 470 with Nav and 2 Screens DVD ent system from the dealer...36month/0down/taxes in payment/$810month + bank fee upfront

Is this good/bad/ok?

BurgBoxstr

If you're happy, that's what matters most. What you're asking is like going to an attorney and saying: "hey check this agreement I just signed for any problems or issues". There will always be people who got a worse deal and those who got a better one. For me, I never lease b/c it doesn't make financial sense due to mileage and especially due to PA law which mandates an add'l 3% sales tax. If you want a true evaluation of your #s, you need to provide more details:

miles per year
sticker price
cap cost
cap cost reductions (any trade, etc.)
money factor
etc.

YMMV and that's JM2C. Enjoy your new GX!

jjbodean

yeah, what he said up there!

how many miles per year? which leasing company?

Aristanet

miles per year - 12k per year
sticker price - $53k (not 100% sure)
cap cost - no clue
cap cost reductions (any trade, etc.) - no trades, no down payment
money factor - ?

Lease is thru Lexus/Toyota Financial. Mileage not an issue, since my wife will be driving this truck. Plus in 36 month she will destroy this thing

TexasGS

We got our 07 loaded without rear entertainment. $3K to pay TTL, 36 month, 12K/yr, $756/mth.

shodog

For about another $150 amonth and 3 more years you could be buying it. If your wife really is rough on cars then tell here to take it easy on it otherwise your going to be taking it in the a$$ when it comes time to turn it back in. They will ding you on every ding, stain and scratch.

jjbodean

actually, LFS is fairly liberal compared to most leasing companies i have seen when it comes to excess wear and tear

acomire

Since we are all talking about money....

Our GX was loaded with RSES, Navi, XM, 3rd row etc.... It had a sticker of 56k. I went through LFS and got a lease for 36 months, 15k miles a year and a total of $3300 out of pocket and I pay $750

AJ

Aristanet

Thanks for the feedback everyone – judging by all the responses, I guess I did get a pretty good/ok deal on my lease.

rxdriver

Dude... you're scaring me!!

"Cap cost", or capitalized cost, is the amount you actually paid for the car. I hope that's well below the $53K sticker.

"Money Factor" is lease-speak for the APR or interest rate. It's expressed as what sounds like a really, really small number (like .00246); multiply it by 24 (regardless of the term) to get the equivalent APR. (.059, or 5.9%)

LexGX

iTrader: (1)

When i first bought mine in dec of 04', i paid 49k out the door. I forgot what the sticker price was but it came with nav, 3rd row seat, rses.

llcc1975

I don't think it was too bad a deal, especially with putting nothing but first payment + acquisition fee up front. Just note that next time in leases, your dealer installed dual screen DVD option kind of hurt your payment more than it would have had it been a factory set up.

In a lease, any dealer installed option (even if a permanent accession to the vehicle) can NOT be residualized. So, in your case, if that DVD setup is being sold to you by the dealer for $1500, you are essentially paying ALL of that back in your 36 months worth of payments. Add the money factor on top of that and your payment was inflated about $45/month for this setup.

Whereas, if the factory setup cost $1500, you could residualize it (at say 52%) and you are only adding about $22/month. However, factory doesn't give you 2 screens, which is pretty cool to have in my opinion.

What matters most is if you and your wife enjoy the vehicle, then I wouldn't question the deal at this point (plus, it's not like you can do anything about it anyway).

Aristanet

Thanks for the input - only reason i wanted to know this is because my LS 430 Lease is up in few month. Now that i know i got a good/ok deal and was not "taken for a ride", i will go back and lease my next car thru them.

And you are absolutly right about dual DVD screens, its well worth the extra 20 bucks a month. Not only the kids are happy, but nothing blocks the rear view mirror as well.

Aristanet

I'm leasing the car for 36 month, all those numbers mean absolutly nothing to me. The only numbers i care about is 1. Monthly Payment and 2. Out of pocket cost.

GatorGX

Aristanet, I think the point rxdriver was trying to make was that not knowing or caring about those numbers (as well as residual) are exactly the thing that could burn someone in a lease. Someone who says I just want to put nothing down and have my payment just be blah could be exactly the target of an unscrupulous salesman who just screws with the money factor and residual and gives little discount on the selling price (cap cost) but makes the payments be where you want them to be. A good lease should be just an alternative way to finance a vehicle once you've settled on the best selling price you can get. Many don't even tell the salesman they are leasing until after a price is agreed upon. Anyway, you are probably fine, but since you are deciding whether to do future business with this dealership you may want to look into it a bit more to make sure. I think Edmunds has some good info on leasing and a calculator for how all the numbers work together. Good luck.