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Prices Paid: Buying & Leasing Experiences Lexus ES 350 Lease Questions
466 messages, Last post on Nov 02, 2009 at 2:33 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: Florida52 (Dec 13, 2008 9:54 am)
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Replying to: travispete1 (Dec 13, 2008 10:30 am)
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Replying to: Florida52 (Dec 13, 2008 11:08 am) There are simple lease calculators online. Of course, if you are rolling the premaining volvo payments into the lease, then the number makes sense.
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I'm new to the leasing side of car deals, and was wondering how the current December to Remember lease specials stack up? The 2008 ES350 with Premium Plus package is advertised at $369/month with $3919 due at signing. Term is 36 months with 12K miles a year. MSRP is listed as $37,950, and the purchase price at lease end is $18,596. Is this a "deal" or not?
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Replying to: travispete1 (Dec 14, 2008 5:31 am) MSRP $42,795 x .53 (residual) = $22,681.35 $37,000 - $22,681.35 = $14,138.65 $14,318.65 / 36 = $397.74 payment w/o interest or tax ($37,000 + $22,681.35) x .0009 (money factor) = $53.71 interest $397.74 + $53.71 x 7% tax = $483.05 total payment However, when I went today to the dealer they had some totally different numbers. They had the same msrp, selling price, residual of .53 and money factor of .0009 as I did yet had my total payment at $527.16 !?!?!?!?! The internet sales manager which I had negotiated with was off today so I didn't get a chance to speak with him, however, I don't understand why such the drastic difference. They also had a Bank fee of ($700,) Doc Fee of ($699) Gov't Fee ($293.50) and Taxes of $1,2464.66 which they had calculated out of pocket I had to pay $826 to the dealer, which included first month, tax and title. The sales manager on the floor said his hard cost on the car was $38,060. I told them to fly a kite and I would go to another dealer. Are my calculations correct? or am I way off base? PS. The amount owed on the Volvo was not used in any of my calculations since I found someone to take over that lease.
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Replying to: Florida52 (Dec 14, 2008 4:01 pm) Also, I believe the difference in the price is due to all the fees that they have my incurring. Bank Fee, Doc Fee, Gov't Fee, Taxes. Can anyone confirm?
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Replying to: Florida52 (Dec 14, 2008 5:31 pm) Try that link |
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Replying to: michael123 (Dec 08, 2008 5:09 am) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: bandj (Dec 10, 2008 7:49 am) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: sebast23 (Dec 10, 2008 6:56 pm) As far as this car's selling price goes, shoot for as close to dealer invoice minus any available cash incentives as possible. You can look up this model's exact dealer invoice price over in the New Vehicle Pricing section of Edmunds.com. December is turning out to be a terrible month for new vehicle sales, even for Lexus. The sales at one local Lexus dealer that I spoke with are off 50% from December of last year. This works to your advantage in negotiations. The last time that I checked, LFS charged a $600 acquisition fee on every vehicle that it leases. You can either pay this fee at lease signing or have it rolled into your car's capitalized cost to bake it into your monthly payment. If the dealer is trying to charge a $599 "dealer fee" on top of this, it is nothing more than a way for them to try to add hidden profit to your deal. Try to have them eliminate the fee. If they give you the whole, legally we have to charge it to everyone pitch just have them lower your car's selling price by that amount. Car_man Host Prices Paid: Buying & Leasing Experiences Forum
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