moolman

Hi folks,
Was about to pull the trigger on a GX or LX but its being put on hold until next month. I'll be buying a H250 probably today.

Here's what I found for rates and incentives, if anybody is aware of anymore, please post.

Current Lease rates for Tier 1+
0.0015 MF, 61% residual 12K

Finance deals
0.9% up to 60 months

Customer Loyalty rebate
$1000

I get the feeling that there are hidden dealer incentives going on right now, I think $1000, that does not include the customer loyalty rebate, but this is just speculation.

acheparev

There was a $500 rebate that I received a week ago on my HS250h. I don't know what it was called.

moolman

Here's my deal,

HS250, I paid invoice +TDA ($561), the TDA is the regional ad fee, if you read edmunds and other website, this supposedly is a legit fee imposed on Lexus and Toyota cars, obviously, it is negotiable, just like anything, but when dealers speak of invoice, most of the time, they mean the invoice you see on edmunds, plus the ad fee, which varies by region.

So Invoice +TDA minus $1500, minus $1000 loyalty bonus, I own a different Lexus.

To quantify my purchase because others claim to buy at a certain price and then get ripped off on the trade in, extended warranty, etc.

I bought nothing extra, no trade in, no warranty, no lojack, no paint protection nothing. I leased the car, paid $700 for the acquisition fee. Tier1+ credit 0.0015 with 61% residual for the 12K.

The price I got was very common in NoCal, bear in mind that this car just isn't selling well here. I think its not selling well in general everywhere.

I also used the 9 MSD to bring down my money factor to 0.00078.

Payments are about $440 a month, after my 9% tax. Nothing to bring the cap cost, just paid upfront, the license fee, tire fee $8.75, doc fee $45, which are all legit fees at the correct prices. Of course I did pay the refundable security deposits to bring down the money factor down.

If you don't understand what a MSD is, please do a search for my username in the GS forum, I explained it step by step when I leased that 2.5 years ago.

acheparev

I paid Invoice - $600, for the HS with premium package plus some extras. Lease Payments are 423 a month, no cap reduction. Just paid taxes and fees upfront, which came to be $2200.

moolman

It may vary by state but why so much up front fees? I guess you paid the acq fee upfront then, cause my fees came out to about $1100 with the first months payment, license, tire fee, doc fee, just the normal fees required by law, nothing extra.

I guess I should explain my $440 a month payment too, so this is after the 9% tax. I bought a HS fully loaded except for the ML and the LED lights. The MSRP was a bit over $46000 cause it had the remote start and Glass breakage sensor.

And the most retarded PIO of them all, PREMIUM Floor mats, just thicker floor mats that they charge for when the car already has regular floor mats. Sure the Lexus logo is in metal, not stitch on but come on, now I have 2 sets of floor mats when I prefer all-weather floor mats.

acheparev

I paid taxes upfront too. The lease was calculated just on the sell price, i didn't want to pay interest on anything else. Plus, in NY sales tax is pretty high, i think it's 8.675%.

YotaCarFan

Is the $1500 rebate still available? Edmunds only shows the $1k repeat Lexus buyer rebate, and the 2 dealers I asked for quotes claimed not to know of the $1500 one.

moolman

Just for kicks, I signed up for the consumer reports car buying guide thing, that supposedly tells you of any incentives, it just told me the regular stuff I found over the internet.

Maybe there is a $1500 incentive, hence me being able to get $1500 under invoice. I didn't find that anywhere on the internet though.

acheparev,
Why would you pay the taxes up front, maybe it's a NY thing, so things could be different. But I pay sales tax 9% on every lease payment. Yeah, I guess I could pay the tax up front in the beginning but there would be no benefit, sure my payments would be lower every month but I would lose the time value of money by paying the taxes early. The taxes at least for me, are the same regardless of if I pay upfront or monthly.

acheparev

If you roll taxes into your lease, you pay interest on them.

moolman

hmm... I think we're calculating the lease differently, you're in NY, maybe leasing is different.

I calculate my own lease payments with my trusty calculator, so I that I know that there is no funny business, the saleman commented to me, that he has a 3-4 million dollar system, so why I am using a $5 calculator to figure out the payments.

Here is CA, the lease has no taxes to roll in, even if you wanted to roll it into the loan, I don't think you can, because the taxes are due when you make a payment. So every month on the lease, you pay the depreciation spread over the 36 month lease, and then the rent charge, which is essentially the interest on the car. Then you tax both at your tax rate to get your final payment, so my payments before taxes are about $400, so every month I pay $440 or so because of sales tax. There's no way I can roll in that $40of tax, since its not charged to me until I make a payment. Now you can roll in your license fee, acq fee and other upfront costs, but sales tax, I don't see how you can.

acheparev

In New York I've always had to either pay taxes upfront or have the option to roll them into the lease calculation, which I would have to pay interest on. I did hear other states do it differently.

YotaCarFan

I'm amazed you were able to get the car for $1500 under invoice! Dealers here in MD are just offering me MSRP.

Are sales taxes 9% in New York?! That's outrageous! I guess I can't complain so much about MD jacking taxes from 5% to 6% a year or so ago.

moolman

That's the difference, I vaguely remember someone mentioning that NY is one of the states that leasing is different in.

Lexus is always cheaper in CA, many, many dealers here and lots of competition, also this car isn't selling. I'm going to smaller town Lexus dealers and they have tons of HS sitting in the lots, I mean rows and rows of them, no joke. When the podunk Lexus dealers have tons, that's a problem. I ended up buying from a big city dealer cause they had a car that wasn't test driven, still had the PDI things on it.

tonyscv

That's right... every state is different. California for example charges sales tax on the monthly payment itself. You don't prepay any taxes, you only pay taxes on the payments themselves month to month.

acheparev

I got a question though. If you pay taxes on the monthly payment, don't you pay taxes on the interest they charge you? If they let you pay taxes upfront, won't you save some money? Not much, but still...