Thinking of leasing a 2014 IS350 AWD F-sport
02-03-14, 05:02 PM
#47
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Hey all,
I just got back from Lexus dealer where my friend worked there as a dealer. I'm just curious if im getting a good deal or not.
I first wanted the IS350 F Sport but they do not have the color(blue) i wanted so i decided to get the IS250 F Sport(Red). Since, i believe there ain't much difference between the 350 and 250 except the horsepower(correct me if I'm wrong) I drive in the city(New York) so not really necessary i believe and its like 5k difference.
Ok, for IS250 F Sport(My very first leasing as you can tell)
The sticker price is 45k but he said he could get it for me for 43k flat.
The leasing agreement is 27 months with 10k mileage per year
$314 per month with $6,200 down at first
Then after the leasing i can pay $32,000 to buy it off.
So, basically i have to pay $14,678 for 27 months of leasing on IS250 F sport fully loaded
and total of $46,678 to buyout the car including taxes.
Is that good?
Thanks
I just got back from Lexus dealer where my friend worked there as a dealer. I'm just curious if im getting a good deal or not.
I first wanted the IS350 F Sport but they do not have the color(blue) i wanted so i decided to get the IS250 F Sport(Red). Since, i believe there ain't much difference between the 350 and 250 except the horsepower(correct me if I'm wrong) I drive in the city(New York) so not really necessary i believe and its like 5k difference.
Ok, for IS250 F Sport(My very first leasing as you can tell)
The sticker price is 45k but he said he could get it for me for 43k flat.
The leasing agreement is 27 months with 10k mileage per year
$314 per month with $6,200 down at first
Then after the leasing i can pay $32,000 to buy it off.
So, basically i have to pay $14,678 for 27 months of leasing on IS250 F sport fully loaded
and total of $46,678 to buyout the car including taxes.
Is that good?
Thanks
02-03-14, 05:08 PM
#48
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Join Date: Oct 2005
Location: NH
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Hey all,
I just got back from Lexus dealer where my friend worked there as a dealer. I'm just curious if im getting a good deal or not.
I first wanted the IS350 F Sport but they do not have the color(blue) i wanted so i decided to get the IS250 F Sport(Red). Since, i believe there ain't much difference between the 350 and 250 except the horsepower(correct me if I'm wrong) I drive in the city(New York) so not really necessary i believe and its like 5k difference.
Ok, for IS250 F Sport(My very first leasing as you can tell)
The sticker price is 45k but he said he could get it for me for 43k flat.
The leasing agreement is 27 months with 10k mileage per year
$314 per month with $6,200 down at first
Then after the leasing i can pay $32,000 to buy it off.
So, basically i have to pay $14,678 for 27 months of leasing on IS250 F sport fully loaded
and total of $46,678 to buyout the car including taxes.
Is that good?
Thanks
I just got back from Lexus dealer where my friend worked there as a dealer. I'm just curious if im getting a good deal or not.
I first wanted the IS350 F Sport but they do not have the color(blue) i wanted so i decided to get the IS250 F Sport(Red). Since, i believe there ain't much difference between the 350 and 250 except the horsepower(correct me if I'm wrong) I drive in the city(New York) so not really necessary i believe and its like 5k difference.
Ok, for IS250 F Sport(My very first leasing as you can tell)
The sticker price is 45k but he said he could get it for me for 43k flat.
The leasing agreement is 27 months with 10k mileage per year
$314 per month with $6,200 down at first
Then after the leasing i can pay $32,000 to buy it off.
So, basically i have to pay $14,678 for 27 months of leasing on IS250 F sport fully loaded
and total of $46,678 to buyout the car including taxes.
Is that good?
Thanks
02-03-14, 05:21 PM
#49
Lexus Fanatic
Yeah $6,200 down is not a good idea. The payment is cheap, but you're better off putting that money into a savings account and paying payments or portions of payments out of that.
What is the money factor? It sounds like your plan is to buy the car at the end of the lease. Why are you leasing? You should just buy it from the get go, put your $6,200 down.
As for the difference between the IS250 and IS350. Drive them both and be sure. There are more than a couple members here who got the 250 assuming what you've said is true and traded it for a 350 shortly after. The 350 makes a huge difference in this car.
Aside from the engine you also get AVS in the 350...
If you trade out of the 250 early to get the 350 its going to cost you a whole lot more than just getting the 350 now.
What is the money factor? It sounds like your plan is to buy the car at the end of the lease. Why are you leasing? You should just buy it from the get go, put your $6,200 down.
As for the difference between the IS250 and IS350. Drive them both and be sure. There are more than a couple members here who got the 250 assuming what you've said is true and traded it for a 350 shortly after. The 350 makes a huge difference in this car.
Aside from the engine you also get AVS in the 350...
If you trade out of the 250 early to get the 350 its going to cost you a whole lot more than just getting the 350 now.
02-03-14, 06:45 PM
#50
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Yeah $6,200 down is not a good idea. The payment is cheap, but you're better off putting that money into a savings account and paying payments or portions of payments out of that.
What is the money factor? It sounds like your plan is to buy the car at the end of the lease. Why are you leasing? You should just buy it from the get go, put your $6,200 down.
As for the difference between the IS250 and IS350. Drive them both and be sure. There are more than a couple members here who got the 250 assuming what you've said is true and traded it for a 350 shortly after. The 350 makes a huge difference in this car.
Aside from the engine you also get AVS in the 350...
If you trade out of the 250 early to get the 350 its going to cost you a whole lot more than just getting the 350 now.
What is the money factor? It sounds like your plan is to buy the car at the end of the lease. Why are you leasing? You should just buy it from the get go, put your $6,200 down.
As for the difference between the IS250 and IS350. Drive them both and be sure. There are more than a couple members here who got the 250 assuming what you've said is true and traded it for a 350 shortly after. The 350 makes a huge difference in this car.
Aside from the engine you also get AVS in the 350...
If you trade out of the 250 early to get the 350 its going to cost you a whole lot more than just getting the 350 now.
And i've mentioned the MF along with the MSDS but he said that there wouldn't be any interest or whatsoever. So, there is no point of putting down deposits.
02-03-14, 06:58 PM
#51
Well everything does change once you meet with the bank to sign papers. All depends on your credit, Tier 1-4 lease rate. Your salesman can quote you on Tier 1 credit/lease rate, but when you meet with finance, the day you pick up the car. After running your credit, your actually a Tier 3 credit and your $613 a month your salesman told you can actually end up being $660 a month. IMO I wouldn't that much down on a lease, if it were to finance, sure why not!
Last edited by LexusFsprt; 02-03-14 at 07:10 PM.
02-03-14, 07:38 PM
#52
Lexus Fanatic
So it's an interest free lease? I would want to see a.000000000 money factor in writing. I've never seen an interest free lease from any manufacturer.
02-03-14, 10:11 PM
#53
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Not exactly sure if i had remember correctly
Maybe, he meant that deposit wouldn't lower the interest, perhaps?
He also mentioned that the dealer might take some of the deposit at the end of the leasing if any scratch\damage found on the car
Maybe, he meant that deposit wouldn't lower the interest, perhaps?
He also mentioned that the dealer might take some of the deposit at the end of the leasing if any scratch\damage found on the car
02-04-14, 10:43 AM
#54
Lexus Fanatic
You need to find out the MF so we can see if its a good lease or not...otherwise we really can't say one way or the other.
02-04-14, 03:14 PM
#55
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I have a 2014 IS350 F Sport loaded to MSRP of 49k. With 0 down it would have been $611 sign and drive. I ended up putting $8500 down because I hate carrying big payments and now I pay $328 a month.
02-04-14, 04:02 PM
#56
Lexus Fanatic
All that $8,500 does is prepay lease payments, its like putting a bunch of money down to rent an apartment. On top of that, that $8,500 is now at risk if the vehicle were to be totaled. The payee is the owner...LFS...not you. So, if you total the car tomorrow that downpayment is simply lost.
The better thing to do is to put the $8,500 into a savings account, and make the payments out of it until its gone, or make half the payments out of it, or something like that. This way the money remains yours and the end result is the same.
The better thing to do is to put the $8,500 into a savings account, and make the payments out of it until its gone, or make half the payments out of it, or something like that. This way the money remains yours and the end result is the same.
02-04-14, 04:31 PM
#57
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All that $8,500 does is prepay lease payments, its like putting a bunch of money down to rent an apartment. On top of that, that $8,500 is now at risk if the vehicle were to be totaled. The payee is the owner...LFS...not you. So, if you total the car tomorrow that downpayment is simply lost.
The better thing to do is to put the $8,500 into a savings account, and make the payments out of it until its gone, or make half the payments out of it, or something like that. This way the money remains yours and the end result is the same.
The better thing to do is to put the $8,500 into a savings account, and make the payments out of it until its gone, or make half the payments out of it, or something like that. This way the money remains yours and the end result is the same.
02-04-14, 04:51 PM
#58
Lexus Fanatic
Yes normally that is the case but here it lowered my payments by a large amount. As for the worried loss I am not concerned as I pay for an additional new vehicle coverage through my insurance. This insures that if the car is totalled they will provide me with the same model or 1 year newer.
As for the insurance you don't understand, and its important that you and others do before they decide to do this. I know exactly the type of insurance you are talking about. You have to understand you don't own this car, you are renting it. The leasing company owns the car. Your insurance is not going to pay off the vehicle's owner...the leasing company...and then BUY you a newer car. That sort of insurance policy is just a gimmick, the nuts and bolts of insurance are the same. The car is worth X, they pay X. Perhaps with your coverage they value the car at 1 year newer. In a lease you will not benefit from that.
When the car is totaled, there is a value assigned to it by the insurance company. That value is made payable to the leasing company when its a lease...because they own the car. When you are financing a vehicle YOU own the car, and thus are the payee if the vehicle is totaled. The insurance you have is of no value on a lease. if the car is totaled, the lease is terminated and you lease another car. Its just a long term rental car. No need for a car "1 year newer" you just go lease (rent) a brand new car.
If you total the car tomorrow, your $8,500 is gone.
http://www.realcartips.com/leasing/0...-leasing.shtml
DON'T: Put a Down Payment or Security Deposit
When possible, you should always try to lease a car without a down payment (also called a capitalized cost reduction).
In cases where a down payment is required, you can usually roll it into the monthly lease payment. The main reason you want to do this - if your car is totaled or stolen, the insurance company will provide a payout to the leasing company, but you will have lost your down payment.
Remember - the vehicle is not owned by you - you're just "renting" it from a leasing company. Your insurance company has no obligation to pay you for any money you lost as a down payment.
When possible, you should always try to lease a car without a down payment (also called a capitalized cost reduction).
In cases where a down payment is required, you can usually roll it into the monthly lease payment. The main reason you want to do this - if your car is totaled or stolen, the insurance company will provide a payout to the leasing company, but you will have lost your down payment.
Remember - the vehicle is not owned by you - you're just "renting" it from a leasing company. Your insurance company has no obligation to pay you for any money you lost as a down payment.
Last edited by SW17LS; 02-04-14 at 04:58 PM.
02-04-14, 05:22 PM
#59
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to SW13GS. You are absolutely correct! It's amazing to me with all the free information at people's fingertips, they don't take the time to do the least bit of research.http://www.leaseguide.com/lease01.htm
02-04-14, 05:30 PM
#60
Lexus Fanatic
Leasing is complicated, like you said you HAVE to do your research and learn.
It physically pains me this poster put $8,500 of his hard earned money at risk, and is paying for an insurance policy he can't take advantage of...
It physically pains me this poster put $8,500 of his hard earned money at risk, and is paying for an insurance policy he can't take advantage of...