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Prices Paid: Buying & Leasing Experiences Lexus RX 350 / RX 400h Lease Questions
1530 messages, Last post on Nov 10, 2009 at 8:23 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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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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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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Replying to: prof_dave (Oct 05, 2006 5:07 pm) Am I doing something wrong with the math? I come up with about $571 as a monthly payment with $0 down (based on the figures given) rather than $780 using Tier 1+ credit. If I am figuring it right, my Lexus dealer would seem to be making a nice profit on such a deal. Thanks again! |
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Working on Leasing a new 2007 RX350...FWD, Premium+, NAV MSRP: 44,125 3Yr/15K Residual: 57% MF: 1.2% (I didn't understand what this meant) Went to the dealership, found the car, and tried to negotiate with the dealer, but he said he would not negotiate the purchase price of a leased vehicle. I then got an email from him reiterating his stance (added below). Looking for 1) How to respond 2) what a good target for negotiating price would be 3) what 1.2% meant for the money factor. Thanks for any help....chad Email from dealer ---------------------------------- Good morning Chad, I thank you for your correspondenceand hope you had a nice weekend. I am a bit confused on your intent because leasing is all about payment becuase you are not purchasing the vehicle, the bank is.
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Replying to: cknodle (Oct 16, 2006 6:13 am) Here's the deal I got over the internet. MSRP: $44,125 Cap cost: $39,500 Residual: 57% MF: .00175 Terms: 36mo/12K Lease: $539/mo with $800 inception cost I don't know if it was a good deal but that's the best I found down here in south Florida. I just wanted to post my numbers because it helped so much reading this thread. Is the calculations correct. For some reason when I did it, it was different from the Lexus finance guy (on his computer). Dan
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Hi CarMan, group! How does this deal look: RX350 w/ Premium, NAV MSRP: $45,683 Cap cost: $42,183 (Discounted $3,500 off list) Residual: 48% (is this right?) MF: .00175 Term: 48mo/12K Lease: $534/mo. + Tax/Fees/First-Month up-front. I can't help but think they can do better on the sale price, but they tend to sell fast inside the beltway. Also, How does the Totyota/Lexus MSD program work? The salesman was reluctant to explain the details ("..it won't make much of a difference"). How many deposits can I make? I calculated five MSDs (at $550/mo.) to be $2,750 deposited, which (at .00010 each) would bring the MF down to .00125 and my payment down to $502 (Goal!). Making 14% a year by letting them hold $2,750 sounds good to me... |
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Replying to: dannyly (Oct 16, 2006 9:02 pm) Residual: 44,125 * .57 = 25151.25 (39500 - 25151.25)/36 = 343.02 (39500 + 25151.25) * .00157 = 109.64 ------------------------------------- 452.66 Of course this is not including any TTL, but how can I be that far off? Can someone please correct me? Chad
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Replying to: cknodle (Oct 17, 2006 8:28 am) Acquisition fee $20/mo. Dealer fee (padding) $15/mo. Money factor (.00175, not .00157) $5/mo. Tax $35/mo. That just about does it.... When you are only amortizing extra costs over 36 months, it adds up fast..
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Replying to: kyfdx (Oct 17, 2006 8:40 am) I don't get the calculations. Do you always have to pay acquisition? I got them to get rid of the dealer fee. Thanks, Danny
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Replying to: mxv2003 (Sep 29, 2006 10:52 am) Car_man Host Prices Paid Forum
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