claarn

would definitely need msrp at the least for the one your talking about and could evaluate with just that. but to really get a good idea if it's a good deal, would need all of the above mentioned figures

one notable is that you NEVER want to put money down on a lease. EVER! I wouldn't even like to roll in my equity from a trade to be honest... see my post above from a few days ago for explanation...

ryanb32

cezar9

I still don't understand why you don't want to do 36 months. With 39 months you may have to pay for an extra year of registration plus other maintenance items.

claarn

It doesn't sound like a terrible deal but I wouldn't feel like jumping out of shoes to go get it. To @cezar9 's point, the only reason that they are going to push you to a 39 month lease is because it's going to lower the payment which isn't a terrible idea but they are still running off of the 36month residual calculation...
you need to clarify with them on the mileage usage details. I estimate your deal to have a net cap cost ( or termed 'lease price' ) to be in the 35-36k range...
Right down to it, I think you can find a better deal...

ryanb32

claarn

GreyGooseNX

@claarn I will have a trade in..my 2011 Lexus IS250 F Sport. It has low mileage and in good condition. You mentioned my post earlier was a good deal as long as no trade in was involved. Since I do, you think it's not? I figure as long as they give me kbb value then it's good or should I ask for more? I don't plan on dropping the trade in info on them until we agree on a final price. Feel free to PM me if that's easier.

claarn

KBB is just OK but I don't use it make a deal based off of what it generates. Run it to CarMax to get a fair market value and use that as your trade offer. If the Lexus dealer comes within say 5% or so of CarMax's offer then I would definitely take it because it will save you on sales tax on the new deal (assuming you have equity in the trade of course).

GreyGooseNX

I do, it's completely paid off. I'm the original owner. Bought it brand new. Lol

caladin

New to the game. Wife would like a NX300. We have $2500 trade in value car and +700 credit.

Are there any dealers in So Cal that are willing to do a $350 /36month no money down lease at 12/15k miles? Will most likely purchase at end of lease.

Thanks all help welcome. I am new to the lease game but its the only way I think we can afford this car.

claarn

In my opinion, I think you can get pretty damn close with that ~2500 trade by way of using it towards MSD's. As I mentioned in a previous post (somewhere), I never like to give money in any form or fashion towards a lease (with the exception to a refundable MSD). Whether it be cash down or even positive equity in a trade. Always take your trade elsewhere because dealers like to use that money in your trade and 'play' with it in their calculations too much by overvaluing it and making it look like a pretty blonde sitting at the end of the bar ... Don't fall in that trap. Straight lease / no money or trade down!!

My suggestion to you is (and what I would do) is...
1. Go get a couple offers from the surrounding dealers. Make sure not to tell them that you have a trade and that this is a flat out lease / no money down deal. I estimate that they are going spit out a >390 a month payment. To get you close to a 350$ / month payment (and with your negotiation skills) ,you are going to have to look at the base NX @ around 37-38k'ish... This payment estimation is based on a rough 60% residual & .00045 money factor (or 1.08% interest rate) w/ an MSRP of 37k & salesprice of 33k (11% off MSRP - ideally you need to target a 10-13% discount from MSRP if that's even feasible in SoCal idk)
2. Once you have your offers in hand, take your trade to CarMax, see what their offer is. If you think that it's beyond fair (sure it will be), then let them pay you. Then go back to the dealer of choice and time to wheel & deal. Use the Carmax money to apply to approx 5 MSD's (multiple security deposits) in order to lower your interest rate / payment (these msd's are refundable at the end of the lease) I assume this program is still in effect but might need to check on that...
3. Circle back around when you get some offers and additional details. Would like to hear what they are providing considering their NX sales for March was a decline YoY...

Make sure you get this info from the dealer when you're out there hunting...
1. MSRP
2. Salesprice (also referred to as net cap cost)
3. RV (residual)
4. MF (money factor)
5. Payment

Hope that makes sense...

caladin

Thanks for the great info. Can you get msd's back even if you purchase the vehicle?

claarn

I can't answer that question for sure but... I would imagine that they would attempt to keep that money and use as a 'down payment' to roll into the finance contract...
Again, I'm not a big proponent of putting any cash down on a lease. I like MSD route but... if the rate (or MF) is already good and you're looking to save just <20/mth, it would be better IMO to keep the money in the bank. If it is a significant reduction then go for it if you're comfortable with it but ensure you read the fineprint on say if the car is totaled etc as to what happens with MSD's. Also, they will likely try to keep those MSD's if you don't purchase the vehicle at the end thru excess wear / tear. Just weigh the value of adding any MSD's.

cezar9

The only way Lexus could possibly have a claim on your MSDs is if you return the vehicle with excessive wear. If you buy the vehicle at the end of the lease I would think that you will get your MSDs without any problem. Everything that Claarn said is spot on so just follow the steps that he's outlined and you will do fine. If you want PM me and I can connect you with my dealer in SoCal who will give you a super aggressive offer and save you a lot of time and effort. Just as a rule of thumb for Lexus I typically target 0.9% (or less) of MSRP as a monthly payment with zero down and some MSDs.

localhostg

Lexus NX300 with comfort package Atomic Silver in TX
MSRP: $41208
OTD: $40250

Should I take it?