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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: DTOM (Feb 10, 2009 7:40 am) It was about $900 to replace them at Discount Tire. If you are going to lease the car figure one tire change, maybe two. $1000 for the tire plan, plus the requirement to do all regular maintenance at the dealer sounds like a major rip off. |
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I've wanted the Lexus IS250 from the time it came out. I'm reminded of it everytime I see one on the road, which is very often to be honest, and I think I'm reaching my breaking point. There's no way that I could afford a $600 to $700 dollar monthly payment so, financing is out of the question. What about leasing? I know I would have to give it back at the end of my lease, but at least I will be able to drive it for a few years. What about financing the residual? That would be about 9 years of payments. Maybe I should just suck it up and finance for 6 years. What can I say, I've had the Lexus IS250 itch since 2006. Are there any hidden fees if I decide to finance the residual? I weclome all comments and constructive criticism. I would have to get the AWD because I live in Pa. Thanks in advance to everyone.
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Replying to: drseif (Feb 09, 2009 9:55 am) |
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Replying to: gardner5236 (Feb 11, 2009 5:58 pm)
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Replying to: kingpcgeek (Feb 12, 2009 8:07 am) The down side with leasing to me is: - It requires more education to understand the price you are paying. I had a spreedsheet with me at the dealer to convert MF to APR and see the rent etc. - Rolling from lease to lease means you never pay off a car, build equity, and enjoy a period of no car payments. However, I think I'm betting putting the difference between lease and loan payments into a CD will do better than building equity in a car. I've really don't like the hassle of selling cars and taking the risk on the residual value. My aversion may come from owning too many VWs that end up underwater.
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Replying to: DTOM (Feb 12, 2009 8:19 am) People say that the cost is much higher to lease and on paper that appears to be true, however in my real world experiences the cost is about the same. If you buy a car and try to sell it later or trade it in, you end up losing just as much money as the additional cost of leasing, plus the time and hassel if you try to sell the car instead of trading it in. The other benefit to rolling from lease to lease is that your car is always covered by the factory bumper to bumper warranty. You never have to worry about incurring a huge repair expense if something breaks. Plus you get all the benefits that come with getting a new car every few years such as safety improvements, better technology, more efficient engines, etc. By the way, any leasing expert will tell you that you should NEVER put any money down on a lease (i.e. cap cost reduction), not even the taxes. Yes, it reduces your monthly payment but if your leased car is totalled or stolen the day after you walk off the lot, your insurance company will NOT pay you the money back. The leasing company owns the car not you, so your insurance company will pay off the balance owed on the car to the leasing company. If you bought the car, the check from the insurance company would be made out to you and you'd have to pay off any loan on the car and then you can keep the difference. If it bothers you that you're be paying interest on the taxes if you put them in the lease payment, then take the money you would have used to pay the taxes and put it in a money market account or CD and earn some interest back. I know it will probably be less than the interest you'll be paying on the taxes but it's better than nothing. The other advantage to putting no money down is that you will have access to that extra cash in case you ever need it. |
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Replying to: Car_man (Feb 10, 2009 3:02 am) Thanks in advanced.
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Replying to: DTOM (Feb 08, 2009 9:33 pm) |
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| The one at the Fremont automall. I also went to the Steven's Creek dealership but they were not very easy to deal with (YMMV!) | |
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Hello, could you suggest current money factor/residual for IS 250 AWD (36mo, 10k/year lease). Thanks alot!
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