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Prices Paid: Buying & Leasing Experiences Lexus RX 350 / RX 450h Lease Questions
1568 messages, Last post on Nov 23, 2009 at 11:26 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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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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Replying to: mxv2003 (Oct 02, 2006 9:27 am) Car_man Host Prices Paid Forum |
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Replying to: jack1963 (Oct 05, 2006 4:57 pm) Car_man Host Prices Paid Forum |
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Replying to: dannyly (Oct 17, 2006 5:08 pm) Car_man Host Prices Paid Forum |
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