SAFNYC

I got this lease offer last week from my dealer on Long Island. I double-checked the numbers by calculating the least on paper myself, and everything adds up accurately, so I know there are no hidden fees or mark ups.

2008 IS 250 AWD
Options ($4485 package from website)
Navigation
Premium Package
HID Lamps
Trunk Mat,Cargo Net,Wheel Locks

MSRP (Sticker) $38,670
Negotiated Price (Cap Cost) $35,493
Cap Reduction $0
Lease Term 36 months
Miles 10K/year
Residual 59%
Money Factor .00185 (4.44%)

Monthly Fee: $460

Cash at Delivery $2601
(Includes sales tax, delivery charge, bank fee, inspection fee, dealer fee, etc)

In my opinion this ain't a bad deal. I mean, the dealer is taking more than $3,000 off the sticker price.

How does that compare to other lease offers?

SAF

Joeb427

iTrader: (1)

SAF,why would you sell the wheels of a lease car on EBay and get Spiders and tires like you posted in another thread?
In my area a base $35K 250 AWD is $359 with $3K down 10K miles.
Your lease is $100 more with $4K more in options.
$460 seems like a so-so deal..

z4frosik

Im in LI also, what dealer are you getting it from.. i think you can bargain him down a bit on the monthly payment 460 is a bit high.

SAFNYC

Oh yeah, I completely forgot that I am leasing this car. I can't sell the stock wheels and tires. Whatever, I'll hold on to the stock wheels until the lease is up.

In your area, a base IS250 AWD is $359/month. Is the $3K a cap reduction, or is it just sales tax and other fees? By the way, a base IS 250 AWD is $34K, not $35K

SAF

Joeb427

iTrader: (1)

Add in destination fee and you're at just under $35K.
$34085 + $765 Destination Fee.

Looks like $2929 cash down all fees.

http://www.tricountylexus.com/MiscPage

SAFNYC

The reason why that monthly fee is so low is because Lexus' year end specials for "December to Remember" include base model cars only. Once you start adding options the discount disappears. But that is not to say the dealer won't be willing to negotiate, most likely he will.

SAF

Joeb427

iTrader: (1)

That $359 or a $369 number has been around for awhile on a base 250 AWD..List price $35047 is base.

SAFNYC

Lexus of Massapequa.

Why do you think $460/month is high? The invoice on the car, at least according to Edmunds, is $34,000. So after getting the price down $3,000, the dealer is making $1,500. I am not putting any money toward a cap reduction.

Even if I got the dealer to go down another $1,000, it would reduce the monthly payment by $30 to $430, and reduce his profit to $500, which I don't think he will go for.

What kind of deal are you getting? Are you also leasing?

SAF

SAFNYC

Hmm, then the residual and money factor are most likely different for a base model, because using the same numbers I am getting for my car with the options, the monthly depreciation fee alone on the base model is $398, and that's not even including the financing.

We are not comparing apples to apples here. I need to find someone who leased the same exact car as I am.

Thanks!
SAF

Joeb427

iTrader: (1)

I thinks it's more list price .

Yay-Z

looks like an okay deal to me, I have like 15,000 miles/year and pay about $70 more than you though... Good luck

mark5

I pay 485 (nyc tax) a month, 12k miles a year. no navi and i put down $950 (1st month, dmv and something else)

SAFNYC

Only $950 down? What did you do about the sales tax and bank fee? Those fees alone would amount to about $2,000. Did you roll them in to the lease?

SAF

Joeb427

iTrader: (1)

You only pay sales tax on your monthly payment.

SAFNYC

The monthly payment for a lease consists of, at least, the monthly depreciation fee and the finance charge from the leasing company. Sales tax is definitely paid on the sum of these two fees. You may not want to roll the bank fee and other dealer/DMV fees in to the monthly fee, but that does not mean you won't pay taxes on them. So I would not look at sales tax by saying "you only pay tax on the monthly payment", because, as in my case, I am paying the bank fee and other dealer/DMV fees upfront but I am also paying tax on those fees.

SAF