What kind of lease deals are you folks getting lately
#16
Driver School Candidate
I just leased for $2k down $475/mo OTD. Sticker was $56k with Navi, heated/cooled seats, blind spot monitor and rear cross-traffic alert. Pretty happy with the deal. Same as simer about $8k off sticker. I'm in SoCal
#17
yes, your number is about right with $3k less vehicle compared to $59-60k.
#18
Pole Position
Thread Starter
Latest lease promotions are pretty crappy. $459/4000 on a $53k MSRP. Dealer insists i go in to chat. It will probably be a very short discussion since I dont plan on budging from a 400-425/2400 out the door on a $59k MSRP.
#19
for those who lease, are you planning to purchase it at the end of lease? Can you negotiate the end lease purchase price?
#20
Lexus Test Driver
iTrader: (1)
Residuals are set by the bank that’s leasing you the car. Higher the residual better the lease payment. Not sure you’d want it lower. When it’s time to return the lease at the end of the term, I’ve heard that Toyota has negotiated the sale price of the vehicle since the manager knew someone at TFS. But I don’t believe you can negotiate... but give it a shot.
#21
Lead Lap
Residuals are set by the bank that’s leasing you the car. Higher the residual better the lease payment. Not sure you’d want it lower. When it’s timte to return the lease at the end of the term, I’ve heard that Toyota has negotiated the sale price of the vehicle since the manager knew someone at TFS. But I don’t believe you can negotiate... but give it a shot.
Last edited by coolsaber; 08-06-18 at 08:30 AM.
#22
Driver School Candidate
I've always been under the impression that the price of the vehicle is set at time of lease by the "residual value". They already lowered the sticker for my GX by $8k when I leased it.
#23
Driver School Candidate
My experience with both Toyota and Lexus leases is that the residual is preset as part of the lease contract. In all cases, my residual has always been lower than market value. So, I have never returned a leased vehicle. I have always sold privately and walked away with some cash.
The best way to get a good lease deal is to forget about what monthly payments you want to make. Negotiate the sale price of the care like you were negotiating a cash purchase. A good sale price will always result in lower monthly payments - interest rates and residual being constant (Toyota Financial Services). Understanding things like invoice pricing and current manufacturer rebates helps you negotiate the best price. Never get into the monthly payment debate with a dealership - it is one argument you will lose. Focus on the final price.
In OP's case he might also qualify for some loyalty programs since he is moving from a GS. I wants got 2 percentage point loyalty reduction on interest rates when I upgraded. from a Toyota to a Lexus.
The best way to get a good lease deal is to forget about what monthly payments you want to make. Negotiate the sale price of the care like you were negotiating a cash purchase. A good sale price will always result in lower monthly payments - interest rates and residual being constant (Toyota Financial Services). Understanding things like invoice pricing and current manufacturer rebates helps you negotiate the best price. Never get into the monthly payment debate with a dealership - it is one argument you will lose. Focus on the final price.
In OP's case he might also qualify for some loyalty programs since he is moving from a GS. I wants got 2 percentage point loyalty reduction on interest rates when I upgraded. from a Toyota to a Lexus.
Last edited by Roughneck; 08-06-18 at 06:11 PM.
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