Lease question + offering for a 2018 GX 460 Premium
#1
Lead Lap
Thread Starter
Lease question + offering for a 2018 GX 460 Premium
Hope all is well! We are considering a lease for the first time and we are interested a GX 460 Premium. The first dealership offered us the following as part of their "December to Remember / Sign and Drive event." Historically, we purchased cars and kept them for about 4-5 years. With the lease, I don't mind keeping the car longer to reduce monthly payments and I have no interest in keeping the car after the lease and apparently we are able to end the lease 6 months early if we move on to another Lexus (very likely).
~60K premium car and 10k miles/year.
~$2000 at signing consisting of first month, all fees (dealer, title/tag, lease), and service contract for 3 years, and wear/tear contract
$559 a month for the following 44 months inclusive of taxes (contingent on Lexus holding on to $4800 that will be released to me at the end which would be my money factor, without this it would be $599 a month)
Would greatly appreciate people's thoughts and guidance. Thanks!
~60K premium car and 10k miles/year.
~$2000 at signing consisting of first month, all fees (dealer, title/tag, lease), and service contract for 3 years, and wear/tear contract
$559 a month for the following 44 months inclusive of taxes (contingent on Lexus holding on to $4800 that will be released to me at the end which would be my money factor, without this it would be $599 a month)
Would greatly appreciate people's thoughts and guidance. Thanks!
#3
Lexus Test Driver
Why do you need a service contract and Wear and tear contract?? that doesn't sound right and just unneeded extra money out of your pocket! You have a 5/60 warranty on the Lexus anyway, you do not need that other crap!
#4
Lead Lap
Thread Starter
Service would cover service for first 3 years and the wear and tear is up to $7500 including tires / body / interior damage that could happen. It was like $800 for both overall so I figured it wouldn't be too bad for a piece of mind...does the rest of the deal make any sense?
#5
Driver
iTrader: (2)
For reference, two weeks ago I leased a 17 GX luxury. The sticker was $68,925 with a dealer discount and lease cash from Lexus got $11500 off. Did a 36 month 10k lease with zero down and was $698 a month which includes taxes (PA) and tags. I declined the wear and tear and maintenance packages. I focused on negotiating the best price for the vehicle as the money factor and residual value are not negotiable.
Last edited by Yoder; 12-08-17 at 06:12 PM.
#6
I took wear/tear warranty on my C300 Mercedes lease but guess what never used it in 3 years just ended up paying extra for no reason besides u have factory warranty and vehicle insurance just in case. Gud luck. I won't take it for a Lexus vehicle a Bmw maybe but not Lexus.
#7
Lead Lap
Thread Starter
For reference, two weeks ago I leased a 17 GX luxury. The sticker was $68,925 with a dealer discount and lease cash from Lexus got $11500 off. Did a 36 month 10k lease with zero down and was $698 a month which includes taxes (PA) and tags. I declined the wear and tear and maintenance packages. I focused on negotiating the best price for the vehicle as the money factor and residual value are not negotiable.
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#9
The out of pocket money I paid to drive the car off the lot was the first payment ($698). With that said, they did charge a $795 acquisition fee and a $300 doc fee but they are rolled into the gross capitalized cost of the vehicle along with the title and registration fees.
#11
So, $559 x 44 + 2000 = $26596 total cost. 26596+ 37936 = 64532. 10,000 miles/yr or 900 miles/month so 44 months = 39,600 miles
The current market price for a used 2014 GX Premium with 39,600 miles is about $34k - $38k but you will get LESS than this if you trade it in or sell it yourself. I think this is Do-able; however, if you drive more than 900 miles per month then be on the look out...I will feel better if it is 12-15k miles per year
#12
Driver
iTrader: (2)
So, $559 x 44 + 2000 = $26596 total cost. 26596+ 37936 = 64532. 10,000 miles/yr or 900 miles/month so 44 months = 39,600 miles
The current market price for a used 2014 GX Premium with 39,600 miles is about $34k - $38k but you will get LESS than this if you trade it in or sell it yourself. I think this is Do-able; however, if you drive more than 900 miles per month then be on the look out...I will feel better if it is 12-15k miles per year
The current market price for a used 2014 GX Premium with 39,600 miles is about $34k - $38k but you will get LESS than this if you trade it in or sell it yourself. I think this is Do-able; however, if you drive more than 900 miles per month then be on the look out...I will feel better if it is 12-15k miles per year
#13
You are mixing up my lease with the OP. We don't know what his residual value is. My was for a 36/10k lease, 55% of the sticker price for a 17 luxury, he is looking at a 18 Premium. I don't know what the residual is for a 44/10 lease, but I think his residual will be lower than mine ($37936).
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