Does anyone know if this is a good time to buy a lexus during this sales event? Or is it just another sales day? Any info would be good....

 

I was at all of my local Lexus Dealers last Christmas. I was looking for a CPO RX. It seemed to me that they were just trying to clear out the older models. To make room for the newer models. I never got any quotes on the 330s as I was looking for a 300.

I did notice the last time I was at dealer. That they were paying 2 or 3 thousand over Blue Book prices for used ones. This may be to get people to trade in early. Get them into a newer model. Were you looking to lease or buy?

 

I am looking to lease and I might be trading in a car as well. I got a lease quote of $900 down with a of monthly of $625 that's with my trade... for 4 years with 12k miles. Does that sound like a good deal or should I keep looking?

 

I wouldnt know about leasing a RX. As I put way to many miles on mine. I have 5 Lexus dealers within 100 miles of where I live. I went looking for the best quote on a CPO RX. And just went a round and round with all the dealers. Till I got the best price on the one I wanted. Not sure but you might try the same thing. On the CPO 2001 RX. They were all basically the same. Just the color, miles and price was all I had to work out.

 

I really like the newer body style I just have never leased before, but we get tired of cars after a few years so thought we would try to lease this time. Thanks for the info though...

 

Being the skeptical and suspicious guy that I am plus knowing that Lexus sales staff, for all their polish and manners relative to the slickedbackhair guy at Joe's "If you got a paystub, we got a car" SaturnDodgeFord lot, are just as good at playing with numbers, I'd have to say that it's likely that what Uncle Lexus giveth in the December to Remember (which they do every year), the salesperson taketh away. IOW, you probably end up with the same deal that you could have negotiated in, say, September. (Sorry for the long sentence; I've been drinking again.)

As far as the lease, you don't have enough numbers there to say. I don't lease because I don't fit most of the criteria (don't need new car every 3-4 years, don't finance anyway) that make leasing a reasonable alternative to ownership AND leasing gives them a lot more numbers to play with to get YOUR money but you/we need a lot more info. For instance, what's the cap cost? What's the money factor? What's the residual? (I can already hear the "Do what???")

That's not to say that there's anything wrong with leasing, just that there are more ways to get hosed.

So, I'll bow to some of our members with far more knowledge in this area and/or you can go over to Edmund's.com (among other places) for a comprehensive discussion of what you need to know to negotiate a decent lease.

 

This quote was from a car broker I have not gone to Lexus as of yet because Of my friend being a broker but I have not found out the other info that you mentioned the cap, and money factor I know should be around 20k and MF to be 1:8. I was actually more concerned on what they would give me on a trade in. That determines if I am going to trade or just wait out the selling myself option. I am just trying to see what's out there that may be a good deal that I may not live without....

 

A little less than a year ago I got:

- Base RX330 FWD (with premium/luxury package.. MSRP was 39K or so)
-13,500 miles/year
-39 months (3.5 years)
-$480/month with 0 down and no trade in

This was of course with excellent credit, and the dealer did not finance with Toyota Credit, the did the financing through US Bank.

 

desirusso,

please check your pm's....

 

Sounds high. I got:

$46,800 msrp
$40818 purchase price
$1200 down (no other cash or trade)
$585/mo 36 months, 12k miles p/year allowance

Your numbers depend on a lot of factors (credit score the biggest), but I would contact the Internet Sales Dept of your local Lexus dealer for a price and lease quote. That's how I got mine.

 

wowo flintrx, u got a really good price. i just got my '05 rx330 for $41,750 w/ everything u have but fwd instead. 380/mo 60 months

 

flintrx
which dealership did you use? I am not going to trade in,but my credit score is 700+. it seems that it varies so much....

 

If your credit score is over 720, you're considered "tier 1" and entitled to the best rate. No difference between 721 and 850.

Do shop around. Peoplefirst.com sometimes offer better rate than the dealerships. Also haggle with the finance manager. Many buyers don't realize that finance term can be negotiated, too. Best way to do it if you have the means: "The rate is too high, I'll just pay cash." That'll make the finance manager really nervous and give you the best rate possible.

Good luck.

 

Heh, that was the no-haggle price from the dealer, which shocked me. I also got very lucky with the APR - US Bank was having some kind of special rate at the time I bought it.

 

Tustin Lexus in Orange County. The internet salesman Yousef was very cool, friendly, and up-front with me, but I don't think he works there any more. My credit score was a hair less than 700 when I bought mine. Lease APR rates change almost daily, sometimes you get a good one, sometimes you don't.