Lee504

I just purchased the 2020 GX 460 w/ sport package
msrp $61025 for $50200. That price includes $3500 in rebates ($2500 Lexus cash $1000 military)
I only got this offer in Atlanta and Dallas. But delivery to my home is free. (Hope it arrives this week)

supra725

Lee,

what packages does your comes with?

thanks

coolsaber

April Programs look identical to March at least on the consumers side. Dealer side incentives is anyones guess.

See link for ref

https://www.clublexus.com/forums/gx-...l#post10750474

supra725

Got another quote today.

2020 gx460 with premium package, captains chair and sport package,

otd is about $56k. Is that an okay price for it? Or should I push a little bit?

cploy

I got one yesterday for $9,500 off a Premium trim MSRP $57,650 in Atlanta, GA. Approx. $53K out of door. My good friend bought one with same MSRP in January for $54K OOD without much haggling. $1K lower than January. I don't think it is a good deal at all in this business environment. Lexus dropped >40% in sales in March. I think April will be even worse when most of the country is under stay at home and small businesses are laying off people. I believe Lexus will come out additional incentives to boost sales. I will hang tight until May. I am shooting for $50K OOD for a $57,650 MSRP GX.

nuclearn8

It's hard not to imagine every automobile manufacturer doing some crazy deals thru Q3 2020. If you can afford to wait, I would....

EnnK

Sorry for duplicate post. I posted this in my thread too and then came to this thread. Been working on getting GX for awhile.

Credit score currently 620-630 (usually stays in 700s. Decrease which occurred a few months back in scores is a long story. My guess of bounce back is probably 10-12 months to hit low-700s again)

Have few offers on the table for new 2020 lease/finance based on scores of 620-630 after credit was pulled by all 3

Dealer #1:
2020 Luxury trim lease
MSRP $68.5K
10K miles / 36 months
Residual of about $40K
$720/month ($200 due at signing)
$0 down

Dealer #2:
2020 Premium finance
MSRP $58K
OTD $52.5 K
LFS APR 4.5% for 84 months (stated by Finance manager)
$0 down

Dealer #3:
2020 Premium finance
MSRP $58K
$47.5K + my taxes (about $2.4K) so OTD is about $50K
LFS APR 13%
#0 down

The $47.5K + tax (DEALER #3) is obviously the best deal. However, they state they they are offered 13% by LFS even though DEALER #1 offered 4.99% LFS for 72 months if I buy instead if lease and DEALER #2 offered 4.5% for 84 months.

Who should we believe? The dealers are quite far apart so I can't just go in and pretend I'm ready to sign paperwork to look at real rates. Any advice would be greatly greatly appreciated. Thank you so much

hzhao

LFS 13% didn’t sound right. LFS is very conservative and usually don’t even offer anything to none perfect credit score buyer at all. Of course now days it may have changed a bit. But 13% APR on new car just does not sound right.

EnnK

We're not sure either. The dealer offering 13% keeps stating that 13% is what's being offered by LFS and that it is also what is showing up as the APR being offered to the other 2 dealers as well but the other 2 dealers are stating 4.5 - 4.99%.

The dealer offering 13% also stated that he wasn't sure why LFS would offer a different rate to them than the other 2 dealers. The finance manager offering 4.5% sent me my credit file which has LFS approval page on there which shows "customer rate" of 8% before she was able to give us approval for 4.5% few days later over the phone (we showed that to the dealer offering 13% and he still wasn't sure why he is being offered 13% by LFS).

??

supra725

How you can close to $11k off msrp?

EnnK

I'm guessing you're asking how we got them to take off $11K from MSRP? If so, it was negotiating with many different dealers and educating ourselves a little bit on the market (a city with 1 dealer vs. a city with more than 1). Back and forth negotiating led to final sale price of $47.5K (in writing) which we have agreed upon but the APR of 13% is what is holding this deal back. Plus, a lot of dealers are now wanting to move out more inventory due to the Pandemic

supra725

Which dealer did you went though? The most I have right now is $9300 off. But is either $6800 with 0.9 or $9300 off with higher interest.

coolsaber

Best thing you do is ask your local Credit union or financial institution for their auto loan products (specifically and not Line of credit or some other nonsense) and ask for there best rate. Currently the offer for Tier 1 credit is 0.9/60 from LFS. 13% while unheard of normally, maybe a thing with the credit score.

coolsaber

Piece of advice for all buyers who intend to finance over a cash purchase...dont take the Lexus cash.
Until we see Lexus offer more money, it makes little sense to take the measly $2500 over a better APR. There are some exceptions, such as if you intend to pay off the loan faster.

EnnK

I get where you are coming from and are not entirely wrong. Is that 0.9 tied to good credit scores?