SW17LS

As long as you are comfortable with the fact that if you total the car you will loose the downpayment. You're trading one risk for the other.

Nobody is arguing against leasing, we're just trying to make sure that everybody has factual information so they can make good decisions. We're all leasing...which is why we're having this discussion.

As long as you are comfortable with the considerable risk you are taking on by relieving the leasing company of the risk of loss if the vehicle were totaled or stolen, then thats fine.

To me, I'd rather have that $31,000 in a savings account under my control and have the payments pay out of it. THAT is security comfort IMHO...

I hope you got some MF reduction for that one pay lease...

mso4

iTrader: (1)

It's sad to see people putting money down on a lease. Like someone said earlier, if you have extra cash, put it toward MSD.

BUT NEVER PUT MONEY DOWN WHEN YOU LEASE A CAR!!!

Even if you don't want to put money toward MSD, just keep the cash in an online account (~0.8% interest) and use money toward your payments.

JHooks

Yes I did get some MF reduction. I also appreciate the detailed information you provided. I was not arguing the point just stated the reasoning behind my first post.

At the end of the day everyone has there own thoughts and reasoning behind their actions and I appreciate the different perspectives provided.

zanka06

I made a screen name right now just to post this question in this thread. Just left the lexus dealer and fell in love with a white is350 f sport. They told me $0 down, 48 months/10k miles a year at $479 a month. Based on the numbers that I was reading in this thread it seems like a good deal. Any thoughts on how I might be able to get them to go lower? Negotiate the sticker price down?

oghowie

48 months is a really long lease. The deal sounds pretty good though.

zanka06

Ya, I think I should see how much it would be for a 27 or 36 month lease. I just wanted to get others opinions on this since I had no clue about leasing before i read this thread. Still not an expert but this thread has been very educational

Bps0517

Folks

I test drove is350 f sport AWD and loved it. Looking to lease one fully loaded but without ML system since it is not available in chicago area. Invoice price is about $49.5k. Lease price I have with zero down for 3yr/36k miles is $570 per month. Tax is rolled into the lease. Is this a good deal?

Would love to have ML system but will have to special order it so won't get the same deal.

oghowie

To give you an idea, I will be picking up a $48,062 FSport Nav, ML, BSM tomorrow for $949 drive offs, $475 / month, 10k miles, 27 months. Normally on a lease you don't really go over 39 months.

SW17LS

The downside to a 48 month lease is that it could potentially get out of warranty, although as long as you truly only drive 10k miles that won't happen, and the potential to have to replace wear components increases...tires...brakes...etc. Its a little less of a concern with these low profile tires that wear out to soon, you likely will have to replace them even with a 36 month lease, and maybe at the end of 27 months, but with 48 months you might have to replace them twice.

Generally Lexus' payments are better with 36 month leases and these new 27 month leases are also good.

I and others are happy to help analyze your leases for you guys

BUT

By just looking at the payment you're falling into a huge dealer trap. Dealers want you to negotiate based on the payment, that way they can hide profit all over the deal. In order to tell you if its a good lease we need to know (and you ALWAYS need to know):

MSRP
Sales Price of the car (after negotiating)
Residual
Money Factor (interest)
Term
Upfront costs rolled in or paid out of pocket (taxes depending on the state, tags, acquisition fees, etc)

You need to negotiate all of these terms individually...and the net result will be a great lease. Even if a payment looks okay, if the car is being sold at too high a price or the MF is inflated...you can do even better.

I've never been presented with a lease by a dealer that I haven't shaved at least $50 a month off once I was disclosed the terms and saw that the deal was padded where we hadn't discussed it. On my latest GS lease the payment was $100 more originally (after the price was negotiated) than it was when I drove off.

LexusFsprt

Yup same here, speaking with finance, we start discussing the lease contract. My final lease was $110 more than originally negotiated. I was like wtf? after hearing that, I told him, I'll put down an extra $1000, so $1500 in total. Only dropped the payment $11.... So I said never mind. I used to be in the Tier 2 rates till the bank ran my credit about THREE TIMES. so I sat there for about 10 mins thinking, would it be a **** move to just walk out on this deal, I already saw the car, I love it, is it really worth it? eh what the heck I signed the papers.

motorpurr

SW13GS,

Looks like President's day weekend was the place to get deals. Want to see what you all think of this deal, my GF and I both got new leases from Lexus yesterday:

Mine - '14 IS350 F Sport - $48K MSRP, $1,800 Drive off, they said this was minimum I could do... 27 mo, 12K miles, $454.96/mo.

Hers - '14 GS350 W/ Nav - $54K MSRP, $2,000 Drive off, 27 mo, 15K miles, $550/mo.

How do these deals compare? did we make the right decision?

SW17LS

Hard to say without seeing the sales prices and all, but the payments look in the ballpark...

motorpurr

The IS had no incentives or "customer cash" so they told me they had to go below invoice to get the deal done.. whether or not that is true I have no idea. Talking with the finance guy he said they were losing money on the deal, but we all know they get money back at the end of the year from Lexus.

SW17LS

They don't loose money on deals lol

motorpurr

I know, but still I felt the $450/mo. on it was pretty good, especially considering there was $0 downpayment.