2020 Lease/Purchase
04-10-20, 04:39 PM
#241
Driver School Candidate
A part of me is kind of doubting 13% too because I also got an offer for LFS 4.5% for 84 who is ready to get paperwork in order for us to sign and then LFS 4.9% from another dealer. Both rates (4.5% vs. 4.9%) were pretty close to each other. But then, this 3rd dealer said that the 13% is also the rate offered by LFS to other 2 dealers and that they both are not being fully transparent with us so we're not entirely sure
04-10-20, 05:19 PM
#242
Lead Lap
Majority of the special apr offers on the current market are earmarked to a certain credit score unfortunately. Even external banks/CUs are doing their best rate (penfed has a 2.89/60) for tier 1 credit. Check out the details, or heck even contact LFS to see what number you qualify for if you are planning to use LFS.
The following users liked this post:
EnnK (04-10-20)
04-10-20, 05:57 PM
#243
Driver School Candidate
Thanks for your input. Is LFS able to tell me what I qualified for through them when I applied with different dealers or is that something they will limit revealing only to authorized dealers?
04-11-20, 11:33 AM
#244
Lead Lap
No harm in calling LFS, if they ran your credit I`d be hopeful they`d be able to provide that info.
04-14-20, 08:15 AM
#245
Lead Lap
13%???? Holy Christ. Don't do that.
The following users liked this post:
nuclearn8 (04-14-20)
04-14-20, 11:21 PM
#247
Driver School Candidate
@ coolsaber
Called LFS but no luck. According to them, the rep told me that they have underwriting dept who sets criteria that dealers use to give you APR and that dept has no direct number for consumers like us to call. The dealership is the only link between the buyer and LFS :s
I also spoke with the dealer again and they came back with an offer of 6% for 72 mos (still high). If they match the other APR of 4.5% fo 84, then I believe we're a go (unless circumstances change and prices drop even further). Will keep you guys posted. Thanks for all input. Appreciate it
Called LFS but no luck. According to them, the rep told me that they have underwriting dept who sets criteria that dealers use to give you APR and that dept has no direct number for consumers like us to call. The dealership is the only link between the buyer and LFS :s
I also spoke with the dealer again and they came back with an offer of 6% for 72 mos (still high). If they match the other APR of 4.5% fo 84, then I believe we're a go (unless circumstances change and prices drop even further). Will keep you guys posted. Thanks for all input. Appreciate it
The following users liked this post:
coolsaber (04-15-20)
04-15-20, 12:21 AM
#248
Lead Lap
@ coolsaber
Called LFS but no luck. According to them, the rep told me that they have underwriting dept who sets criteria that dealers use to give you APR and that dept has no direct number for consumers like us to call. The dealership is the only link between the buyer and LFS :s
I also spoke with the dealer again and they came back with an offer of 6% for 72 mos (still high). If they match the other APR of 4.5% fo 84, then I believe we're a go (unless circumstances change and prices drop even further). Will keep you guys posted. Thanks for all input. Appreciate it
Called LFS but no luck. According to them, the rep told me that they have underwriting dept who sets criteria that dealers use to give you APR and that dept has no direct number for consumers like us to call. The dealership is the only link between the buyer and LFS :s
I also spoke with the dealer again and they came back with an offer of 6% for 72 mos (still high). If they match the other APR of 4.5% fo 84, then I believe we're a go (unless circumstances change and prices drop even further). Will keep you guys posted. Thanks for all input. Appreciate it
Theyre probably doing some backroom deal (pardon the crudeness) to make some money on the backend of the finance deal. If 2 other dealers have offered you 4.x% from LFS, then I wouldnt budge on anything less. 13% is astronomical on a new car purchase, let alone the GX.
Keep us posted.
04-15-20, 12:23 AM
#249
Lead Lap
@Lee504 which dealership in Dallas was it? We live here and just today got an offer for 9K off MSRP on a Premium but wondering if we should push a little harder. Thanks!
04-15-20, 11:43 AM
#250
So far, I contacted a local dealer they are asking $56k before TTL.
The best I have so far is this price. $56k out the door with all the incentives but no 0.9,
if I choose the 0.9, I be around $58.5k..
should I hold off on it a little bit more or push for 56k and the 0.9
thanks
The best I have so far is this price. $56k out the door with all the incentives but no 0.9,
if I choose the 0.9, I be around $58.5k..
should I hold off on it a little bit more or push for 56k and the 0.9
thanks
04-15-20, 01:09 PM
#251
Driver School Candidate
I would push a little harder. I am in an area that has only one Lexus dealer, and without much pushing, they offered to take $5,000 off MSRP and still offer the Lexus incentives. (either $2,500 cash or .9% finance)
04-16-20, 04:23 AM
#253
Driver School Candidate
Bryan, have you matched the Leigh Valley offer with Northtown?
The way you translate their deals is a whole different ball game:
Typically the highest you should pay is Invoice of your particular build-lexus cash.
The deals that are possible are below invoice further reduced by the lexus cash. This means the GX has some sort of mfg to dealer cash that they arent disclosing.
Having said that:
The going rate on a purchase without using Lexus Financial Services (cash or outside financing) is 16% total as per poster above you (absolutely possible in NY being in the market currently).
The way you translate their deals is a whole different ball game:
Typically the highest you should pay is Invoice of your particular build-lexus cash.
The deals that are possible are below invoice further reduced by the lexus cash. This means the GX has some sort of mfg to dealer cash that they arent disclosing.
Having said that:
The going rate on a purchase without using Lexus Financial Services (cash or outside financing) is 16% total as per poster above you (absolutely possible in NY being in the market currently).
How did you get that? If I could get that deal, I would take it right now. I am getting close to buying and am going to try and push them a little harder when I am ready. Also, what dealership is that?
Last edited by penberth; 04-16-20 at 04:23 AM. Reason: added another sentence.
04-17-20, 02:32 PM
#255
Lead Lap
Again, you can not double dip. Its either Cash or the 0.9 from LFS. Might want to check your registration zip code on Lexus.com for confirmation though.
Calculations for the lazy:
Sticker (lets assume Premium):57,xxx
Discount before Rebates (lets assume this dealer is in the middle of your offers): 50,xxx
Sales Tax: 9.25
Reg $600
Down Payment: $0
Tradein: None
Cash back with outside Tier 1 Credit of 2.89% total loan amount: 56,441 over 60 months
No Cash back, but LFS sponsored Tier 1 Credit of 0.9% total loan amount: 56,498 over 60 months.
Net savings for choosing Cash back-> $57
my 2 cents remains the same, either way your better off saving yourself the run around and taking LFS over the cash for a measly $57.
Disclaimers:
The calculations CHANGE with the APR you qualify for.
If programs or dealers magically become generous this might change in either direction.
Calculations for the lazy:
Sticker (lets assume Premium):57,xxx
Discount before Rebates (lets assume this dealer is in the middle of your offers): 50,xxx
Sales Tax: 9.25
Reg $600
Down Payment: $0
Tradein: None
Cash back with outside Tier 1 Credit of 2.89% total loan amount: 56,441 over 60 months
No Cash back, but LFS sponsored Tier 1 Credit of 0.9% total loan amount: 56,498 over 60 months.
Net savings for choosing Cash back-> $57
my 2 cents remains the same, either way your better off saving yourself the run around and taking LFS over the cash for a measly $57.
Disclaimers:
The calculations CHANGE with the APR you qualify for.
If programs or dealers magically become generous this might change in either direction.
Last edited by coolsaber; 04-17-20 at 02:54 PM.