A story about a new 2011 IS350AWD...
12-19-10, 08:30 AM
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A story about a new 2011 IS350AWD...
Hello,
So I wanted to tell my story of leasing a new 2011 IS 350 AWD. Besides recounting my story, I wanted to provide a few tidbits of information people may find useful. This is located at the bottom of the post.
I purchased a 2008 IS 250 AWD in August of 2008. While I liked the 350 at the time, I felt comfortable with getting AWD first.
I have been watching TV and I kept seeing the December to Remember commercials. I figure, “Hey maybe I can get a new 350 with some money back with these lease specials.” I recently bought a house (June) and the extra cash would be very helpful AND I could get into a 350. Win win, right? I figured my car is worth around $23,000 (according to KBB). In early 2009 I got into a fender bender and had to replace the back bumper and the metal plate that holds the spare. I knew it would be a little less since I got into an accident. I had the body work done at the dealership I purchased the car and I was returning the same dealership. So the accident could be mitigated a bit because of those factors.
At this point, I made plans to go visit the dealership that I originally purchased my 2008 from (same sales person, too). I exchanged emails and phone calls and got some information about what they had. There was only a single 350 on the lot, so that is what I had to choose from. It had the luxury package, navigation (no ML), obsidian exterior and ecru interior . I have never been a fan of the tan/brown/beige interior so I was really worried about this. I figured I would sit inside and see how I like it before making a judgment on it.
I live around 4 hours away, so it is quite the trek. I was hoping to get a good deal. I think I did.
My initial hopes was to pay no more than $400 a month (only a little more than what I pay now), and walk away with $4,000-7,000 in cash (depending on how well I can haggle/etc).
I arrived Friday and I spoke to the sales person, and it was a nice conversation. She listened to my rant about the dealership that is near me – they are OK, but do small things that are super annoying and build up over time.
Then we went on to the test drive! I drove the 350 around the lot and then on the highway.
It is HUGELY better than my 250. The engine is perfect for the weight of the car. The transmission was smooth as a baby's bottom. I was very very happy with the performance. At one point, I was on the highway and I seamlessly passed some people while going 80 mph (was gonna miss an exit :P ). The brakes and tires were very good. Also, I was driving on some service roads that had slush on them and performed very nicely. Overall, I was happy with the performance aspect of the test drive.
I have a pinched nerve in my back so I noticed the seats also seemed to have much more padding in them and were more comfortable. This is very important to me as long distance drives are painful.
Another thing is, they apparently put in a SOS button where the moon shade controls used to be (at least in the 2008s). You press it and it will automatically calls a service center. It also prompts you to hit it again to cancel. So it is pretty cool. This cost a yearly subscription, and I think it is around $300 a year? I don't remember. They put in two buttons to operate the moon shade next to the SOS button.
The interior seems to be quite a bit better than my 250. I do like the two pieces of silver trim on the steering wheel and the glove box. I think it adds a nice touch while not being over the top.
I mentioned earlier that I wasn't a fan of the tan/etc interiors and I must say, I don't really mind it that much in the 350. In way, I think it is actually better than what I have now – black interior. My car is pretty much strictly one color and everything looks the same. There are no contrasts, can't see the lines, etc. With the ecru interior, everything is easier to see because there are black highlights and the silver trim, and I am able to actually see how everything comes together with the lines and the design philosophy. As such, I am just fine with the ecru interior.
Anyways, to make a really really long story short, I haggled for a long time Friday (4 hours). It was all in a very mature and professional setting. I never felt pressured to buy. The sales person was very patient with me and really tried very hard to meet my requirements. At on point, I sat there for almost an hour toiling over a deal. At the end, the lowest I was able to get them to go was $3,500 cash back, $450 a month and 10,000 miles for 3 years. I told them that I could not take this deal. They asked me “What would you take?” and I said: “$400 a month payment, $4,000 back, 12k a year.”. Unfortunately, they were not able to do this. I left in a mature and professional manner (I planned to come back when I was able to do a purchase). I thought to myself: “Maybe next time and you can't win it all!”.
The next day (Saturday), they called me in the morning to touch base with me. They wanted to see if I changed my mind and if I was not upset/sour towards them. I informed them I wasn't and I now know what it takes to get into this car under what I need financially. We both agreed not buying was the best thing at the moment. They also said, because I do not buy today, doesn't mean I won't buy tomorrow – which is right. I felt good and then I started to drive home (4 hours away). About 20 minutes after, my cell went off and it was from the dealership. I thought this was interesting they were calling me again. I picked up and they said that they were able to do what I wanted ($400 month, $4,000 cash back, 12,000 miles/yr, 3 years). Oh, I did use my Lexus reward points – about $350 worth so that came in handy. So I had to turn around and head back to the dealership. I was very happy and it was a very nice surprise. I went and signed the paper work and everything went through with no problem. I made plans to pick the car up ton the 27th of this month.
So that is the majority of my story. If anyone lives in the Central NY area and want to know what dealership this is and am in the market of a new car – PM me and I can give you more information.
Now I shall present some tidbits!
(Tidbit 1) One thing that actually played in my favor is that, it appears, All State Insurance, will give you a discount on your insurance if you give them 7 days notification before picking up the car. This discount is fairly noticeable. So if you have All State Insurance, try to manage to do pick up 7 days after the sale. Call your agent for more details!
(Tidbit 2) The residue value for the IS350 AWD is 59.5%, which is pretty good.
(Tidbit 3) I'm sure others knew this but it wasn't apparent to me because I never leased before, but the lease specials on TV do not count any tax, so add around $60 to whatever monthly payment they show to get the “real payment”. For example, the IS250 deal says $349 a month, but it really comes out to around $404 a month.
(Tidbit 4) I managed to get around $4,000-5000 off of MSRP, so I was happy about that. I also managed to get them to talk up my trade a bit more, but it was very difficult – they had to call around to get someone that actually wanted the trade in soon. It just goes to show how easy it is to work with this dealership.
(Tidbit 5) I was told that Lexus is going to start putting some sort of lease return fee starting in 2011. This fee is around $350-500 or so. It appears other companies already have this fee and Lexus hasn't been asking their buyers to pay for it...but that is going to change.
I shall post pictures when I get the car!
Thank you and good bye!
Day
PS: Always buy the 350!!
PS2: My computer is having some issues. Apparently the 400 Series graphic cards are not really compatible with many MB's out there and they freeze the display (the computer is actually still running fine – so you could press the key strokes to log out of windows if you wanted) at random times. As such, I may or may not be able to get to this post very often. I disabled my video card and am using the default VGA drivers right now, haha.
So I wanted to tell my story of leasing a new 2011 IS 350 AWD. Besides recounting my story, I wanted to provide a few tidbits of information people may find useful. This is located at the bottom of the post.
I purchased a 2008 IS 250 AWD in August of 2008. While I liked the 350 at the time, I felt comfortable with getting AWD first.
I have been watching TV and I kept seeing the December to Remember commercials. I figure, “Hey maybe I can get a new 350 with some money back with these lease specials.” I recently bought a house (June) and the extra cash would be very helpful AND I could get into a 350. Win win, right? I figured my car is worth around $23,000 (according to KBB). In early 2009 I got into a fender bender and had to replace the back bumper and the metal plate that holds the spare. I knew it would be a little less since I got into an accident. I had the body work done at the dealership I purchased the car and I was returning the same dealership. So the accident could be mitigated a bit because of those factors.
At this point, I made plans to go visit the dealership that I originally purchased my 2008 from (same sales person, too). I exchanged emails and phone calls and got some information about what they had. There was only a single 350 on the lot, so that is what I had to choose from. It had the luxury package, navigation (no ML), obsidian exterior and ecru interior . I have never been a fan of the tan/brown/beige interior so I was really worried about this. I figured I would sit inside and see how I like it before making a judgment on it.
I live around 4 hours away, so it is quite the trek. I was hoping to get a good deal. I think I did.
My initial hopes was to pay no more than $400 a month (only a little more than what I pay now), and walk away with $4,000-7,000 in cash (depending on how well I can haggle/etc).
I arrived Friday and I spoke to the sales person, and it was a nice conversation. She listened to my rant about the dealership that is near me – they are OK, but do small things that are super annoying and build up over time.
Then we went on to the test drive! I drove the 350 around the lot and then on the highway.
It is HUGELY better than my 250. The engine is perfect for the weight of the car. The transmission was smooth as a baby's bottom. I was very very happy with the performance. At one point, I was on the highway and I seamlessly passed some people while going 80 mph (was gonna miss an exit :P ). The brakes and tires were very good. Also, I was driving on some service roads that had slush on them and performed very nicely. Overall, I was happy with the performance aspect of the test drive.
I have a pinched nerve in my back so I noticed the seats also seemed to have much more padding in them and were more comfortable. This is very important to me as long distance drives are painful.
Another thing is, they apparently put in a SOS button where the moon shade controls used to be (at least in the 2008s). You press it and it will automatically calls a service center. It also prompts you to hit it again to cancel. So it is pretty cool. This cost a yearly subscription, and I think it is around $300 a year? I don't remember. They put in two buttons to operate the moon shade next to the SOS button.
The interior seems to be quite a bit better than my 250. I do like the two pieces of silver trim on the steering wheel and the glove box. I think it adds a nice touch while not being over the top.
I mentioned earlier that I wasn't a fan of the tan/etc interiors and I must say, I don't really mind it that much in the 350. In way, I think it is actually better than what I have now – black interior. My car is pretty much strictly one color and everything looks the same. There are no contrasts, can't see the lines, etc. With the ecru interior, everything is easier to see because there are black highlights and the silver trim, and I am able to actually see how everything comes together with the lines and the design philosophy. As such, I am just fine with the ecru interior.
Anyways, to make a really really long story short, I haggled for a long time Friday (4 hours). It was all in a very mature and professional setting. I never felt pressured to buy. The sales person was very patient with me and really tried very hard to meet my requirements. At on point, I sat there for almost an hour toiling over a deal. At the end, the lowest I was able to get them to go was $3,500 cash back, $450 a month and 10,000 miles for 3 years. I told them that I could not take this deal. They asked me “What would you take?” and I said: “$400 a month payment, $4,000 back, 12k a year.”. Unfortunately, they were not able to do this. I left in a mature and professional manner (I planned to come back when I was able to do a purchase). I thought to myself: “Maybe next time and you can't win it all!”.
The next day (Saturday), they called me in the morning to touch base with me. They wanted to see if I changed my mind and if I was not upset/sour towards them. I informed them I wasn't and I now know what it takes to get into this car under what I need financially. We both agreed not buying was the best thing at the moment. They also said, because I do not buy today, doesn't mean I won't buy tomorrow – which is right. I felt good and then I started to drive home (4 hours away). About 20 minutes after, my cell went off and it was from the dealership. I thought this was interesting they were calling me again. I picked up and they said that they were able to do what I wanted ($400 month, $4,000 cash back, 12,000 miles/yr, 3 years). Oh, I did use my Lexus reward points – about $350 worth so that came in handy. So I had to turn around and head back to the dealership. I was very happy and it was a very nice surprise. I went and signed the paper work and everything went through with no problem. I made plans to pick the car up ton the 27th of this month.
So that is the majority of my story. If anyone lives in the Central NY area and want to know what dealership this is and am in the market of a new car – PM me and I can give you more information.
Now I shall present some tidbits!
(Tidbit 1) One thing that actually played in my favor is that, it appears, All State Insurance, will give you a discount on your insurance if you give them 7 days notification before picking up the car. This discount is fairly noticeable. So if you have All State Insurance, try to manage to do pick up 7 days after the sale. Call your agent for more details!
(Tidbit 2) The residue value for the IS350 AWD is 59.5%, which is pretty good.
(Tidbit 3) I'm sure others knew this but it wasn't apparent to me because I never leased before, but the lease specials on TV do not count any tax, so add around $60 to whatever monthly payment they show to get the “real payment”. For example, the IS250 deal says $349 a month, but it really comes out to around $404 a month.
(Tidbit 4) I managed to get around $4,000-5000 off of MSRP, so I was happy about that. I also managed to get them to talk up my trade a bit more, but it was very difficult – they had to call around to get someone that actually wanted the trade in soon. It just goes to show how easy it is to work with this dealership.
(Tidbit 5) I was told that Lexus is going to start putting some sort of lease return fee starting in 2011. This fee is around $350-500 or so. It appears other companies already have this fee and Lexus hasn't been asking their buyers to pay for it...but that is going to change.
I shall post pictures when I get the car!
Thank you and good bye!
Day
PS: Always buy the 350!!
PS2: My computer is having some issues. Apparently the 400 Series graphic cards are not really compatible with many MB's out there and they freeze the display (the computer is actually still running fine – so you could press the key strokes to log out of windows if you wanted) at random times. As such, I may or may not be able to get to this post very often. I disabled my video card and am using the default VGA drivers right now, haha.
Last edited by dayrinni; 12-20-10 at 04:54 PM.
12-19-10, 09:23 AM
#3
Great story man, glad to hear everything worked out at the end. I was contemplating with the girl friend about putting together a special order IS350 F-Sport, I'm very tempted but I figured it would have to be later as I'm not planning to sell the IS250.
Hope you really like it and enjoy it. I think you got a pretty good deal, pretty much what you went in there working with. Enjoy the new ride
Hope you really like it and enjoy it. I think you got a pretty good deal, pretty much what you went in there working with. Enjoy the new ride
12-19-10, 12:21 PM
#7
Great post. That is how to negotiate (not the 4 hour part), but being able to walk away from the deal. If you are not willing to walk away, you will never get a great deal.
The best tip? Alwasy buy the 350, lol.
The best tip? Alwasy buy the 350, lol.
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12-19-10, 08:34 PM
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Thanks for the replies! I have made this a December to Remember!
Does anyone know what the differences between the transmission are? It was very easy to tell that there was a difference. Would be nice to get some more information on it.
I forgot to mention that their initial offer was: $600 a month, $4,000 down, $5,000 back and 3 years with 12,000 miles a year.
Does anyone know what the differences between the transmission are? It was very easy to tell that there was a difference. Would be nice to get some more information on it.
I forgot to mention that their initial offer was: $600 a month, $4,000 down, $5,000 back and 3 years with 12,000 miles a year.
I picked mine up in November and absolutely love the AWD!
12-20-10, 04:56 PM
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Thanks again for the replies. I am super excited.
A question to anyone reading this who leases...
This is my first lease...do you guys and gals usually just turn the car in and get a new one or you do buy it out? Would you buy out your IS?
Just so ya know, metal, I have been on CL since I purchased my first IS but HEY! No worries! I'll take a welcome any day of the week!
I have a few extra tidbits I forgot...
(Tidbit 5) I was told that Lexus is going to start putting some sort of lease return fee starting in 2011. This fee is around $350-500 or so. It appears other companies already have this fee and Lexus hasn't been asking their buyers to pay for it...but that is going to change.
And, my insurance only went up $50 A YEAR! All State ROCKS!
I bought a new video card, hopefully it will work better than my current one. We shall see!
A question to anyone reading this who leases...
This is my first lease...do you guys and gals usually just turn the car in and get a new one or you do buy it out? Would you buy out your IS?
Just so ya know, metal, I have been on CL since I purchased my first IS but HEY! No worries! I'll take a welcome any day of the week!
I have a few extra tidbits I forgot...
(Tidbit 5) I was told that Lexus is going to start putting some sort of lease return fee starting in 2011. This fee is around $350-500 or so. It appears other companies already have this fee and Lexus hasn't been asking their buyers to pay for it...but that is going to change.
And, my insurance only went up $50 A YEAR! All State ROCKS!
I bought a new video card, hopefully it will work better than my current one. We shall see!