2017 RX Best Prices So Far?
08-25-17 | 03:43 PM
#557
Driver
Joined: Mar 2010
Posts: 184
Likes: 3
From: nyc
Picking up my new rx tomorrow at Lexus of Brooklyn white on red fsport waited about 2 weeks for it. Found this deal while shopping around https://www.cars.com/vehicledetail/d...5399/overview/
08-28-17 | 07:41 AM
#559
Pit Crew
Joined: Jul 2017
Posts: 103
Likes: 19
From: ON
I have a question about lease to buy strategy.
If you plan to lease the car for 3 years and then buy it out, does residual value really matter?
for sake of simplicity let's say a MSRP of car is $40000 and residual value is 50%. (we lease out taxes and fees for this example - also assume lease interest rate is %0)
It means lease end value would be $20000 and your lease monthly payment would be 20000/36 = $556
so at the end you pay $40000 for car.
now if residual value is %60, lease end price will be $24000 and monthly payment of 16000/36 = $444
again at the end you paid $40000 for the car. (dealers do inflated residual value in order to lower the lease monthly payment)
now the question is because you have to pay for the car one way or other, does residual value matter in you negotiation with dealer, OR you should focus on negotiating MSRP to lower it hence the residual value will be lower too.
the above is about lease to buy plan, not lease and return plan. (I know residual is important if you want to lease the car and return it)
If you plan to lease the car for 3 years and then buy it out, does residual value really matter?
for sake of simplicity let's say a MSRP of car is $40000 and residual value is 50%. (we lease out taxes and fees for this example - also assume lease interest rate is %0)
It means lease end value would be $20000 and your lease monthly payment would be 20000/36 = $556
so at the end you pay $40000 for car.
now if residual value is %60, lease end price will be $24000 and monthly payment of 16000/36 = $444
again at the end you paid $40000 for the car. (dealers do inflated residual value in order to lower the lease monthly payment)
now the question is because you have to pay for the car one way or other, does residual value matter in you negotiation with dealer, OR you should focus on negotiating MSRP to lower it hence the residual value will be lower too.
the above is about lease to buy plan, not lease and return plan. (I know residual is important if you want to lease the car and return it)
08-29-17 | 02:35 PM
#560
Driver School Candidate
Joined: Aug 2017
Posts: 6
Likes: 0
From: new jersey
https://www.cars.com/vehicledetail/d...5399/overview/
I checked this out...$53,000. plus docs $419. Tax $3,672.56, NJ supplemental titling fee $212., Registration/title fee (Estimated) $376., Rebate $1500., OTD $56,210. Is this a good buy?
I checked this out...$53,000. plus docs $419. Tax $3,672.56, NJ supplemental titling fee $212., Registration/title fee (Estimated) $376., Rebate $1500., OTD $56,210. Is this a good buy?
Last edited by ny2nv911; 08-29-17 at 02:37 PM. Reason: copy paste
08-29-17 | 03:07 PM
#562
Driver School Candidate
Joined: May 2015
Posts: 30
Likes: 3
From: NJ
08-29-17 | 03:32 PM
#563
Driver School Candidate
Joined: Jun 2017
Posts: 17
Likes: 8
From: New York
http://www.lexusofedison.com/Vehicle...-NJ/3033318913
If he purchases for $ 53,000 that is 11.8% off MSRP.
If he purchases for $ 53,000 that is 11.8% off MSRP.
08-29-17 | 04:14 PM
#564
Driver School Candidate
Joined: Aug 2017
Posts: 6
Likes: 0
From: new jersey
Computation
[QUOTE=VroomZoom;9968342]http://www.lexusofedison.com/Vehicle...-NJ/3033318913
If he purchases for $ 53,000 that is 11.8% off MSRP.[/[img]webkit-fake-url://97a5b030-984b-492c-84c2-a124c22e0720/imagepng[/img]
If he purchases for $ 53,000 that is 11.8% off MSRP.[/[img]webkit-fake-url://97a5b030-984b-492c-84c2-a124c22e0720/imagepng[/img]
08-29-17 | 04:17 PM
#565
Intermediate
Joined: Jul 2011
Posts: 273
Likes: 21
From: Ohio
http://www.lexusofedison.com/Vehicle...-NJ/3033318913
If he purchases for $ 53,000 that is 11.8% off MSRP.
If he purchases for $ 53,000 that is 11.8% off MSRP.
08-29-17 | 05:53 PM
#566
Driver School Candidate
Joined: Aug 2017
Posts: 25
Likes: 3
From: Ohio
https://www.cars.com/vehicledetail/d...5399/overview/
I checked this out...$53,000. plus docs $419. Tax $3,672.56, NJ supplemental titling fee $212., Registration/title fee (Estimated) $376., Rebate $1500., OTD $56,210. Is this a good buy?
I checked this out...$53,000. plus docs $419. Tax $3,672.56, NJ supplemental titling fee $212., Registration/title fee (Estimated) $376., Rebate $1500., OTD $56,210. Is this a good buy?
08-29-17 | 06:39 PM
#567
Driver School Candidate
Joined: Aug 2017
Posts: 6
Likes: 0
From: new jersey
So is that good? fair? It could be better. That's the only one they have. It's actually $51,500. including rebate plus tax and fees $56,210.
$60,128. discount $7,128. Sale price of $53,000.
$60,128. discount $7,128. Sale price of $53,000.
Last edited by ny2nv911; 08-29-17 at 06:45 PM.
08-29-17 | 06:58 PM
#568
Driver School Candidate
Joined: Aug 2017
Posts: 25
Likes: 3
From: Ohio
Yes. If you got $7128 off of the MSRP of $60,128, that's 11.85% off. Deducting the $1500 cash buy incentive, that's a total of $14.35% off. I would go for it unless you think there is more play there?
The following users liked this post:
ny2nv911 (08-30-17)
The following users liked this post:
ny2nv911 (08-30-17)
08-30-17 | 05:34 AM
#570
Driver School Candidate
Joined: Aug 2017
Posts: 6
Likes: 0
From: new jersey
That is the lowest they can go. It started with $55,210, made an offer of $48,000. They dropped it to $52,210. Told them to meet in between. The best they can do is $51,500. I don't think it can go any lower than that.
There is a silver/black 2016 panoramic on the lot with 8000 miles on it selling it for $52xxx. Mint.
There is a silver/black 2016 panoramic on the lot with 8000 miles on it selling it for $52xxx. Mint.
Last edited by ny2nv911; 08-30-17 at 05:38 AM. Reason: wrong figure