- #91 of 1587
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Re: Multiple Security Deposits [malenky]
by rxcrazy
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Dec 27, 2005 (2:16 pm)
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Replying to: malenky (Dec 23, 2005 4:58 pm)
Malenky
I am looking to lease within a week from NJ. The deal you've got seems to be pretty good. Can u give me the details on Color/Options/etc. for this one. Can I use your name(I need full name or last name or some reference) if asks for.
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Just got 2006 RX 330 from Lexus of Englewood in NJ. $449 a mo / 36 mo 12K per year with LFS and $1350 out of pocket. $4050 security deposit (9x$450). MSRP $43,404.00, sale price #37,500, a few hundred below invoice.
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- #92 of 1587
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Lease payments
by sued2005
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Dec 27, 2005 (2:58 pm)
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After a couple of months researching, we are ready to buy the RX330. I was able to get a quote of 40,988 on an MRSP of 45,753 and 42,579 on an MRSP of 48,573. My question is what type of pmt would I be looking at for a 36 or 39 months lease with 15k mileage per year? Now that I reached my targeted price I don't want the dealer to do anything weird when I tell them I want to lease the car vs purchasing it. Thank you for your time!
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- #93 of 1587
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Re: Lease payments [sued2005]
by sued2005
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Dec 27, 2005 (11:17 pm)
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Replying to: sued2005 (Dec 27, 2005 2:58 pm)
Tonight we went to the local dealership who promised via email that they could match another dealer's price. However, when we arrived, they showed us the invoice and said that the other dealer was giving us $300 under invoice and that they could only offer $500 over invoice. The price is still fair, but I am questioning their original promise. I have not picked up the car, just did the initial paperwork and will be handling the financing tomorrow and pick up of the vehicle. The MRSP is 48,573 and I am getting 43,179 locally. Or I could drive 2 hours to the Bay Area to save $600 and get a price of 42,579.
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- #94 of 1587
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Re: Lexus RX 330: Lease Questions [Car_man]
by footwood
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Dec 28, 2005 (9:03 am)
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Replying to: Car_man (Aug 31, 2005 3:29 am)
I am going to Ray Catena Lexus of monmouth on Friday to look at the Lexus RX330. I am always cautious when going to a dealer. What should I look for as far as a lease. I have looked at the prices people were getting on there cars. I just don't want to get nailed.
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- #95 of 1587
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Re: 2006 RX 330 AWD with Prem. Plus. Fair deal? [Car_man]
by lex123
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Dec 28, 2005 (12:34 pm)
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Replying to: Car_man (Dec 15, 2005 4:04 am)
Car Man, can explain why the multiple security deposits is a good deal? Yes, it lowers your monthly lease payment but you essentially tie up a huge amount of money that is better off invested elsewhere (i.e. ING, a 4% one year CD). From what I understand, you are lowering your money factor slightly by doing this. Let me know what I'm missing.
Thanks
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- #96 of 1587
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Re: 2006 RX 330 AWD Premium Plus w/Navigation [vt100]
by Car_man HOST
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Jan 03, 2006 (3:13 am)
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Replying to: vt100 (Dec 15, 2005 4:21 pm)
Hello vt100. You never mentioned the selling price of the RX 330 that you are interested in leasing. This is an important number 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 the price of the truck that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be more than happy to work up a sample lease payment on the truck that you are interested in for you if you let me know what its selling price is. You should be able to get an idea of how much you should pay for this truck by visiting the following discussion: "Lexus RX 330: Prices Paid & Buying Experience".
Car_man
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- #97 of 1587
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Re: Lease vs. Buy [rlb1957]
by Car_man HOST
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Jan 03, 2006 (3:19 am)
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Replying to: rlb1957 (Dec 22, 2005 10:40 am)
Hi rlb1957. Lease payments are made up of two main parts, the interest portion and the depreciation portion. The depreciation portion is the difference between your truck's MSRP and what Lexus believes it will actually be worth three years from now (or however long your lease is for) divided by the number of payments. It is difficult to predict exactly what the future resale value of this truck will be. However, theoretically assuming that you pay the same interest rate you should come out about the same by leasing this truck for three years and by financing it for three years and then selling it or trading it in.
Car_man
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- #98 of 1587
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Re: RX 330 in CT [lexusct]
by Car_man HOST
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Jan 03, 2006 (3:25 am)
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Replying to: lexusct (Dec 22, 2005 3:33 pm)
Hi lexusct. All you need to do to make additional security deposits on your lease is tell the dealer that you want to make them. Most banks provide some sort of discount in the lease money factor that is used to calculate the interest portion of leases for each additional deposit. I am not sure of the exact reduction in money factor that LFS provides, but I suspect that it is around .00005 to .00010.
Car_man
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- #99 of 1587
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Re: Lease payments [sued2005]
by Car_man HOST
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Jan 03, 2006 (3:37 am)
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Replying to: sued2005 (Dec 27, 2005 2:58 pm)
Hi sued2005. Let's work up a sample lease payment on these trucks for you and see what we come up with. According to my calculations, if you were to lease a 2006 Lexus RX 330 4WD without the navigation or entertainment systems options with an MSRP of $45,753 and a selling price of $40,988 through Lexus Financial Services right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $566. The payment for an otherwise identical 39 month lease should be nearly the same. For a similar truck with an MSRP of $48,573 and a selling price of $42,579 I estimate that the 36 month, 15,000 miles per year payment should be around $572. Again the 39 month payment would be about the same.
Car_man
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- #100 of 1587
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Re: Lexus RX 330: Lease Questions [footwood]
by Car_man HOST
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Jan 03, 2006 (3:40 am)
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Replying to: footwood (Dec 28, 2005 9:03 am)
Hi footwood. If you are not all that familiar with leasing and how it works, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.
As far as what to look for goes, make sure to negotiate as low a selling price as possible for the truck that you want and that the lease money factor that is used to calculate your lease payment is in line with Lexus Financial Services' current buy rate money factor of .00225 (this assumes that you qualify for its top credit tier).
Car_man
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