Jensennn

Hey everyone, so I am new to leasing, I usually finance my cars but I have noticed that after 2 years or less I end up getting rid of so I'm trying my hand at leasing.

I have a car with about 10k worth of equity in that I'm looking to get rid of. I have good credit and the the local dealership is telling me that if I trade in my car they can work out a deal for 12k miles/36 months for an RC-F. $500 a month, maybe even better.

Is this a good deal? Would it be a better deal pushing for something fully loaded with the cf options and all that to make it better? or is this too much of a down payment on a lease?

I like the car so who knows, maybe I'll end up buying it after the lease is up but any advice is great.

Thanks.

toyotatom

Whats the MSRP of the RCF and what are they offering it to you for. $500 a month or cheaper for an RCF listing around 70K is pretty cheap with only $10,000 down. Your not talking about an RC 350 by chance are you?

DrRick

the general rule with leasing is put as little as possible down. definitely dont trade in a car that has so much positive equity unless you just need the payments to be lower. youre basically losing $10K on this deal...

DougHII

You should have a 58% residual. What is your money factor and what is the purchase price? That is the only way to tell if you are getting a good deal. Negotiate the mf and the purchase price. The cf car will not lease out any better and will have a higher note.

Lol, the 10K trade in is gone whether you lease or purchase. If your comfort level is a smaller note and you want an RC F, go for it. Enjoy life. Cars like these are not an investment. Just something to make you smile and you cannot take any of this bs to grave.

That said, the interest rates and money factors Lexus is offering are so low that it does make sense to finance the full amount and invest the 10k (although appears we have been experiencing some resistance level bounce since late December) if the note without the down payment is within your comfort zone. If not and you really want the car, then trade that sucka in and drive away in one sweet ride at an incredibly low note. Some things have more intrinsic value than mere $$$.

MGB1120

Great advice, I always wanted a sports coupe and fell in love with the RCF, $500 seems really low for a RCF lease, lowest estimate I got was $940, 24 month lease, $72,000 UW/RR, basic 5 spoke gun metal wheels, love it can't wait to get it.

ghoffner

I had a quote done on a $73,000 MSRP RCF. 36months & 7,500 miles/year came out to be $1290/month. Residual was 60% and mf was 0.0028. I laughed and said no chance. 48month lease had a residual of 51%.

Personally, I would wait until after December and pick up a CPO for $60,000 flat. I'm seeing more and more used RCF's online for low 60's (autotrader), so I figure after the new year they should be even lower or possibly high 50's. Just my opinion.

DougHII

Top tier credit mf much, much lower and mf is negotiable diwn to base rate if top tier credit. That mf is killing you and what was the negotiated price?

toyotatom

You either lose 10K on the car or 10K in payments out of your checkbook over the term of the loan without the trade, so it kind of equals out to the same thing. In fact the total cost of the lease would be slightly cheaper because you would not be paying the finance charge on the 10K trade in. I guess it whatever you are comfortable doing

Jensennn

The salesmen wouldn't give me any info. I was connected to him through a friend, he claimed there were a lot of rebates going on for the RC-F, how he's the best salesmen, yadda yadda, he claimed that withy my trade in he could get me into an RC-F for $500 a month...maybe better. Possibly even able to get me the upgraded cf package as well, he just has to ***** out his car more lol.

They have about 20+ RC-Fs at this dealership so I assume sales haven't been stellar and they're trying to move product?

What are some good numbers I should be expecting, I will stop by tomorrow to talk with him more.

MGB1120

PM if you don't mind! Would like to know if I can get a deal too

DrRick

But you could invest that $10k and let it work for you for 3 yrs. just my opinion. If it were a straight trade in...sure because it's something that you own, although still a depreciating asset. You would still be creating a certain amount of equity in the vehicle.

No big deal, tho. I'm just of the opinion that you put as little money down on a lease as possible.

Jensennn

I get where you're coming from just cause you go from owning something with equity to nothing. I was also contemplating the idea of a GS350 Fsport just because I was told it's possible to get with 1.5 down and about 300 a month with the same lease terms. Then I could always sell my other car and reinvest the money elsewhere....but that RC-F thoooo.... lol

I'll keep you guys updated on the decision. Thanks for the info so far!

johnnyreb

Yep, i've always heard that it's Best Not to Put ANY Cash Down if you're going to do a Lease.

DrRick

Another idea is multiple security deposits. You would basically be using your trade in as several months' payments up front. That will lower your MF and may get your payments close to where you want em. And then you get the money BACK at the end of the lease. We thought about doing that with my wife's M4 but the tax situation in Georgia just make leasing a bad proposition. See if Lexus lets you do MSD's.

In the end...it's just money, tho. Life is short. And if you have your heart set on it...GO FOR IT!!! As long as you're not taking food off your family's plate...make yourself happy!!!

Jensennn

I've heard of that too, just cause any money you put down, say the car is totaled, well, you're essentially S.O.L.

I like the idea of MSDs, I read before it can be tricky getting that money back from the dealership at turn in just cause they may nickel and dime you for wear and tear and take the money from there and what not...unless I plan on purchasing another vehicle or the same one from that.