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Prices Paid: Buying & Leasing Experiences Lexus IS 250 / IS 350 Lease Questions
1165 messages, Last post on Nov 17, 2009 at 6:18 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: greeneyespsu (Apr 29, 2009 12:58 pm) I've learned a lot over the past few days, and it's all starting to sink in, and I'm getting the concept down. HOWEVER, the monthly payments, still aren't quite adding up, according to my math.... Let me use greeneyes deal for an example.... Here are green's figures: --------------------------------------------------------------- MSRP $37,656 (IS250 RWD, Nav, Prem, 18" summers) Selling price $32,448 (under invoice, with no rebates/incentives at the time) 36mo/12k (53% residual) MF lowered to .0006 (.114%) with 9 MSD (now I wonder, could I have made it .0000 with 10??) Down $4680 (I think) -- $3825 of that was the MSD -- no cap reduction. Got $1000 from trade -- '98 Chevy Cavalier with 122k+, fair condition (I thought this was fair considering it had scratches, some rust underneath, broken A/C, cracked head gasket causing overheating, though I'm pretty sure they only knew about the scratches) 35 months at $411.xx, but now increased to $415.xx because of tax increase. ================================================== The net cap here is $31,593 ($32,448 minus the down amount that wasn't part of the MSD). The residual is $19,581 So the Depreciation fee is $333.66 ($31,593 - $19,581/36 months) (Net Cap - Residual / term) The Finance fee is $30.70 ($31,593 + $19,581 x .0006) (Net Cap + Residual x Money Factor) Adding these two together we get $364.36 for a monthly payment (without taxes), yet green's quoted price was $411 (without taxes). Did green get ripped off???
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Replying to: valuehunter07 (May 01, 2009 11:52 am) With my numbers on JUST the car, the depreciation is $357.41 ($32,448 - $19581.12/36 months) multiplied by 1.0825 sales tax = $386.90 per month. Add in acquisition fee of $700 = $406.34. Plus interest and any other little fees I'm missing would probably equal the $411.xx per month. Also, my residual was 52%.. I was wrong in my previous post. I thought it was 53% last month on 12k/36 but the $19581.12 is 52% of the MSRP ($37,656).
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Replying to: kingpcgeek (Apr 30, 2009 10:42 am) Just wanted to say thanks for sharing this format/letter. I think it's pretty straight to the point and well done. I also think I'll use it, or something very similar. Thanks so much. |
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Replying to: greeneyespsu (May 01, 2009 6:16 pm) Thanks (again  ) for all of your help. This really does help a ton. |
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Replying to: Car_man (Apr 28, 2009 2:24 am)
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Replying to: Car_man (Apr 06, 2009 3:00 am) I'm guessing this was no money down? I saw greeneyes got a money factor of .0006, but of course she put down $3200. If anyone can help me with further info on this figure, I'd really appreciate it. I'm trying to calculate my potential lease. thank you very much |
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Replying to: valuehunter07 (May 05, 2009 5:33 pm) In the case you stated it doesn't make any sense to me to do it. Without MSD interest rate was 3%, after MSDs it was 1.44%. That is a difference of 1.56%, but they hold onto your $3200 for three years. I can get a better rate putting the $3200 in a ING savings account. |
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Replying to: valuehunter07 (May 05, 2009 5:33 pm)
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Replying to: mmarketos (Apr 28, 2009 1:07 pm) This is NOT a good deal. Sorry I didn't see your message til now or I would have responded before. I got a 2009 IS 250 RWD with premium, navigation and 18" for almost $25 less than that per month, including tax (9.25% in CA). Granted, I did put down 9 MSDs to lower the interest rate (no cap cost reduction -- plus I rolled up my acquisition fee), but for that price per month you should at least have the navi and 18" wheels too! |
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Replying to: greeneyespsu (May 06, 2009 3:09 pm) |
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