Hoosier605

Would you mind sharing the total out of pocket expense for fees and taxes, and how long ago you made your deal?

Hoosier605

The best residual value I’ve seen in the last month is 56% for 36/10. You would have to reach a sales price of around $38,000 on that $50,100 MSRP vehicle to get to a $468 per month lease with a money factor of .00030.

Or perhaps you had a trade in?

redraptor

No trade in, just a lease return with a 2016 IS350.

This was purchased last October 2018. I don't have the figures I paid on me but I did pay the sales tax and fees upfront so my monthly payment does not include this. For NY it's sales tax on the monthly payment, which is around 9%.

I'll check and see the paperwork for my rates for all the fine details.

gulshan

Once buyers finalize the monthly $ amount and upfront first payment they should imho ask the question.. 'What used NX with remaining warranty can I buy instead of lease for this same money ?" Granted you may not get full 4 years of warranty but depending on how long you plan to keep the car that may not be an issue. (since long term reliability of even the first year model 2015 NX's is already proven). Owning anytime beats leasing since you can mod it as per taste and not worry about miles, dings etc and have good trade in equity for next car..

coolsaber

Negotiate the sell price/cap cost first. That seems to be the biggest difference between your original quote you came up with and the dealer quote. Its certainly doable as the 20s are already on the lots. Payment shopping albeit "playing dumb" works to a certain degree. However it also invite those who promise the moon but can deliver nothing. Any luck you might be in an NX by the end of the weekend (end of q2)

Hoosier605

Dealer called this afternoon and we made our deal. They came around to my way of thinking and we leased it for exactly what I presented to them. $1733 out of pocket and $542.07 per month for 36/15.

The one we opted for had a slightly higher MSRP...that’s why the increase from $1400.

wallaceb

Do you mind sharing which dealer finally came around? I can't get a quote under $600 with $0 down and only first payment due at signing. Have tried for 30/12 which is a 58% residual.

Hoosier605

PM sent to you.

coolsaber

congrats. as predicted, end of q2 and month end, no time better then to make a deal.

Hoosier605

I was finally able to look through the details or our lease agreement.

I really don't care how they structured it, so long as my out of pocket and monthly payment were where I wanted. They got close enough...
Details Below:

36 / 15 NX F-Sport AWD
52% Residual Value
0.00030 Money Factor

$ 48,952.40 MSRP
$ 4,847.21 Dealer Discount
$ 795.00 Acquisition Fee
$ 496.00 Documentation Fee

$ 45,396.19 Negotiated Price

$ 1,500.00 Lexus Cash Incentive
$ 1,000.64 Down Payment

$ 42,895.55 Final Capitalized Cost

$ 25,455.25 Residual Value (Purchase price @ end of lease. $350 Detail Fee to walk away.)

$ 17,440.30 Deprec/Amort Amount
$ 738.19 Money Factor / Interest
$ 504.96 Payment Pretax
$ 35.35 Monthly Sales Tax
$ 540.31 Payment

$ 1,000.64 Down Payment
$ 175.04 Tax Due Upfront
$ 15.00 Title Fee
$ 2.00 License Plate Fee
$ 540.31 First Payment

$ 1,732.99 Total Due @ Signing

If I would have had the time to consider the details before signing, I probably would have pulled the $1000 down payment. That would have taken my monthly payment to approx. $570 and my total due at signing to $692.37. But we were leaving for vacation in the early AM and the dealership was closing. I'm unsure if the acquisition or documentation fees are negotiable or avoidable...if they are, I believe those two items are the only areas with any further room for negotiation. I'm satisfied with deal I made.

wallaceb

I just signed for white/black interior 2019 NX 300 F-Sport yesterday at a St. Louis dealer. I think I did ok, but did not get a bigger dealer discount like I wanted. Getting the college graduate discount helped enough, so I went ahead. With incentives and the dealer discount, I received 13% off of MSRP, which isn't great since only $3,536 was from the dealer. Dealers in the midwest were very tough to work with, no one wanted to move these cars.

Details Below:

36 / 15 NX F-Sport AWD (white/black interior)
51% Residual Value
0.00020 Money Factor

$ 48,387.00 MSRP
$ 3,536.00 Dealer Discount
$ 795.00 Acquisition Fee
$ 199.00 Documentation Fee
$ $76.00 License Plate Transfer Fee

$ 45,921.00 Negotiated Price

$ 1,750.00 Lexus Cash Incentive
$ 1,000.00 Lexus College Graduate Incentive
$ 0 Down Payment

$ 43,171.00 Final Capitalized Cost

My tax rate is 9.24% so that made my payment pretty high. $1,728 in taxes, or $48 per month.

$ 24,667.17 Residual Value (Purchase price @ end of lease. $350 disposition fee to walk away.)

$ 575.50 Payment

ONLY FIRST PAYMENT DUE AT SIGNING
$ 575.00 Total Due @ Signing

EminentNX

2000$ down, 416/month. 36/10k

The G Man

Car max trade in price was $3000 lower than kbb in my care and I got the dealer to pay KBB price for my trade. Car max is like that we buy ugly house company, it easy, its quick and you will lose money if trade your car in over there or use their numbers.

claarn

@TheGMan While what you said may be true in some cases (all depends on the appraiser, regional market etc for CarMax...), but what I have found is that CarMax does a very very good job in providing a very fair market value of vehicles. Obviously they are in the business to make money, just as a new car dealer is, so they will undercut you in some cases varying on your condition, market supply, months of supply at that location etc...
Consumers need to be cautious and understand that dealers will inflate the trade offer when purchasing a new vehicle in order to entice you to say 'what a great deal on my car, let's do the deal'... all the while they are holding back their maximum discount on the new vehicle price. This is a balancing act and numbers mind-game in order to get off-topic of the new sales price and make you feel like you are getting a fantastic deal (a scratch you behind the ear situation) since they are allowing you 'over market value' of your vehicle. Know where they are putting the money in your OTD price as they may be burying the extra (3k in your case) in the sales price of the new... thus, why you ALWAYS go into a dealership telling them that you are NOT trading anything in. then once you get them to their bottom dollar on the new vehicle, you throw in your trade. This will show you what THEIR fair market offer is on your trade... then you can compare the CarMax and KBB to see if it is in line... otherwise they are just playing the game with you...
I would love to see the structure of your deal...

Lex2000TL

On three occasions, over last few years, when I negotiated deals I never opened up about what I want to trade in until new car price is agreed on. Every time dealer offered much better deal on my trade in compare to CarMax' offer (valid for 3 days/300 miles). The difference is very significant between these two offers, although I negotiate hard on trade in as well.
CarMax is in business of buying low and selling high. Nothing wrong about it as long as you know what to expect.