- #228 of 1570
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Re: How To Find Money Factor and Residual % [element3]
by Car_man HOST
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Sep 27, 2006 (1:43 am)
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Replying to: element3 (Sep 04, 2006 3:25 pm)
HI element3. The two main numbers that you should focus on when negotiating a lease on this truck are its selling price and its money factor. These are the two main profit centers for dealers on leased vehicles. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Negotiate a low a selling price as possible on the truck that you want and then have the dealer that you are working with calculate its monthly payment using Lexus Financial Services' buy rate lease money factor. It is important to insist that they use the buy rate because dealers are allowed to "mark-up" vehicles money factors to add additional back-end profit to deals. I believe that LFS' current buy rate for a 36 month lease of a 2006 RX 400h is .00190 for consumers who qualify for its "Tier 1+" credit tier.
Car_man
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- #229 of 1570
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Re: Lease Opportunity [prof_dave]
by Car_man HOST
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Sep 27, 2006 (1:51 am)
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Replying to: prof_dave (Sep 09, 2006 6:05 pm)
Greetings prof_dave. You never mentioned the selling price or MSRP of the RX 400h that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this truck's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what these numbers are.
Car_man
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- #230 of 1570
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Re: can anyone confirm money factor and residual for September ? [djdez]
by Car_man HOST
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Sep 27, 2006 (1:53 am)
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Replying to: djdez (Sep 19, 2006 9:44 am)
Hey djdez. According to the latest information that I have see, Lexus Financial Services' current buy rate lease money factor for the 2007 RX 350 AWD is .00175. Where did you hear that it is lower than that?
Car_man
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- #231 of 1570
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Re: 2007 RX 350 FWD SOCAL Lease Deal [xando05]
by Car_man HOST
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Sep 27, 2006 (1:58 am)
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Replying to: xando05 (Sep 23, 2006 1:20 pm)
Hi xando05. If I am not mistaken, the selling price that you were quoted for this truck appears to be below dealer invoice. That is a very good deal. Just make sure that the dealer you are working with uses the '07 RX 350's buy rate lease money factor of .00175 to calculate your vehicle's monthly payment and you're in business.
Car_man
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- #232 of 1570
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Re: Leasing during "Golden Opportunity Sales Event" [markish]
by Car_man HOST
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Sep 27, 2006 (2:00 am)
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Replying to: markish (Sep 23, 2006 2:33 pm)
Welcome aboard markish. I also came up with $512.10 per month, but I usually just round up payments to the nearest whole dollar amount when posting them in the forums.
Car_man
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- #233 of 1570
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Re: Lexus RX350 Lease Questions [val3ntin3s]
by Car_man HOST
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Sep 27, 2006 (2:04 am)
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Replying to: val3ntin3s (Sep 25, 2006 10:40 pm)
Hi val3ntin3s. It is likely going to be fairly expensive for you to get out of your ES 300 lease now if it is not scheduled to expire until April of next year. If I was in your situation, I would wait until I was closer to the scheduled end date of my current lease to get something new. If were to lease a base 2007 RX 350 AWD through Lexus Financial Services right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value would be .00175 and 56%, respectively assuming that you qualify for its "Tier 1+" credit tier. The numbers for an otherwise identical 48 month lease should be .00175 and 47%. LFS base lease acquisition fee is currently $600. I don't believe that it charges a disposition fee.
Car_man
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- #234 of 1570
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Is this a good deal ?
by mxv2003
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Sep 29, 2006 (10:52 am)
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Thanks Car_Man. Great service your performing and best site I've seen on the web so far.
Is this a good offer?
2007 RX350 AWD w/ NAV
MSRP $45683
Sell price $40450
MF .00185
Residual 58%
12K lease/36mons
Monthly $501.75
Tax upfront(7%) $1320.06
Due at signing: $2898.51
The Money Factor from LFS on this board is .00175, but the dealer is quoting .00185 for LFS. The numbers don't add up when I plug into my lease calculator. $501.75 sounds too low.
I'll be heading into the lion's den tonight so if anyone has any advice, please post ASAP.
Thanks.
-mxv2003
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- #235 of 1570
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Re: Is this a good deal ? [mxv2003]
by mxv2003
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Oct 02, 2006 (9:27 am)
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Replying to: mxv2003 (Sep 29, 2006 10:52 am)
Ok. I got the following deal
MSRP $45683
Base Cap $40353
MF .00175
Residual %58
12K/36Mo
Monthly $501.75
Due at Signing $2898 (includes tax,1st mon, Bank fee(I know), MV fees.
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- #236 of 1570
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What's wrong with this picture?
by jack1963
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Oct 05, 2006 (4:57 pm)
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Hi.
My local Lexus dealer gave me the following figures for a 2007 RX350 FWD, premium plus, navigation, heated seats, 18-inch tires:
MSRP: $44,306
Sell Price: $42,100 +TTL = $45,030
36 month/12K lease
Monthly choices: $780 with $0 down, 1st month due at signing; or $699 with $2641 down plus 1st month's payment
No other details were given (MF, residual). This seems way off from the other lease offers I am seeing here.
Can someone help me figure out what is going on with this deal??
Thanks!
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- #237 of 1570
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What is wrong answer
by prof_dave
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Oct 05, 2006 (5:07 pm)
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What is wrong with that is the sell price. people have been getting 41,200 or even lower.
the formula is pretty simple
Take the sell price + residual factor ( in your case 58% of the MSRP) then times that by the money factor .00175 if you have Tier 1+ credit (about a 730 or higher) if you have Tier 1 then you use a money factor of .00185.
Ok, you take that number then
take the sell price minus the residual factor divided by 36
add the two numbers together and then you have your lease basic cost.
If you say put 2500 down, you are basically subtracted from sell price. so if it was 42,000 for example, now you put in 39,500.
So, the sale price will dictate a lot.
it took me 5 or 6 dealers to finally get a price that I liked.
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