skibots

New to the Forum and I'm going to sign the paperwork tomorrow for a 2016 IS 350. Standard features, plus Blind spot monitoring, Dynamic radar cruise w/ pre collision, Navigation, Accy Package, F sport.

Hows this deal look?

2016 IS350 F sport
MSRP: $49,700.00
Selling Price: $45,267
Net Cap. Cost $45,601.23
10,000 miles per year
1st payment and DMV ($195) total out of pocket
36 months and $456 per month (inclusive of taxes and monthly fees)
Dealer and bank fee rolled into the payment ($499/$700)
Money factor is 0.00105 and the residual value is 64%.

Just want to make sure I'm getting a good deal.

Vivid101

Just picked this up yesterday:

2016 IS 350F
Black/Red
12k/year
36months
470/month
put down $470 for first months payment and drove off.

gtmassive

Pick up an IS300 Fsport in Long island, NY..
msrp --46777
selling --43062
$1000 down
$450mth
66RV
.00085MF
Maybe could have done better, by saving another $30

blarf

here's the offer I got:
2016 IS350F Sport
MSRP of the vehicle is $49,524.00
Your price is $44,459.00
Your lease is for 36 months, 10,000 miles per year and you will be required to give us $1,000 at signing.
Your total payment including tax is $440.00 a month.

Good deal or not?

gtmassive

Whats your MF snd Residual?--
Look out for when the finance guy/gal tell you that you dont have Lexus tier 1 plus credit and they jack up the MF and payment-- at that point you tell them "thank you for letting me not buy a lexus" and leave. Thats all Lexus dealers trick.

blarf

65% residual
.00075 money factor

gtmassive

So according to calculation your base price should be $397 a month. If you rolling taxes in, just multiply whatever % you pay in state tax by 397 and then add it to 397.
Lets say your tax is 9.5%--397+38= $435
I'm assuming your $1000 is 1st month, Bank Fee and DMV. You're getting almost 11% off MSRP.

Make sure they dont jack up the MF.

blarf

So I'm assuming it's a decent deal?

gtmassive

yes much better than mine..

blarf

sealed the deal today. MF stayed at 0.00075. $1000 drive-fee (including 1st month), Monthly payment is $390 (tax included). I'm happy

2ndName

I have a question, a noob one at that. Is it better to lease a Lexus or something? I'm looking to gauge pricing but seems like majority of the posts refers to leasing deals. Am I missing something? Lease to buy is better than straight financing with high down?

nathantse

Depends what you want. If you want to drive a new car every 2-3 years, AND have a car payment every month for however long. Then... yeah lease.

But, if you want to own and pay off a car, then have no car payment once the car is paid off. Then buy the car.

It all comes down to preference. Like they all say.. "Buy Japanese, Lease German".

2ndName

Thanks. Although having a new car every 2-3 years sounds appealing to me, I think the constant monthly payment will turn me off. Just thought I was missing out on some backdoor trick on getting a good deal or something, haha

nathantse

Well in a sense, you would be paying a lower monthly payment than someone who is financing the car..Some dealers do promote leases with good deals. (easier to negotiate then to finance I'm guessing)

For example, I'm paying $507/month for 3 years with 30k down on a ~$50,000 msrp. But after 3 years, the car is mine and I won't have to budget in a car payment.

However, with a leased car, you see people pay ~$400/month for the same car. But you just gotta factor in that $400 to your budget for as long as you lease. so yeaaaaaaaaaaaaaaaaaaaaaaaaaaaaaaah

gtmassive

If you're a 1 car person for life, buy it, as other say if you like changing cars lease. German cars which are very expensive is cheaper to lease than finance outright. After 3yrs is if you still like the car you can buy it, or just turn it in and get another.
I personally think putting money down on a car is waste of your money, you can make that $$$ do something else for you.

I have been financing my new cars and never kept none for more than 3yrs, until 2013 when i lease a BMW, then another and now a Lexus. It all comes down to what you can afford in your monthly budget.
PS: God forbid, if i loose my job tomorrow, i put that Lexus and BMW on the street and have the bank pick it up-- i still have all my money to help me through the hard times. If you take $10k to put down on a finance thats money you will need if hard times hit.
Just my thinking.
I like to change cars often.