- #77 of 173
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Re: Should I take this? [wkalexand]
by ocautoseeker
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Feb 25, 2008 (2:16 pm)
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Replying to: wkalexand (Feb 25, 2008 6:08 pm)
Looks like a great deal! They were very aggressive on the cap cost! The base rate mf is .00245 for LFS Tier 1+ credit, so at .00255. you're either below the required FICO for the base rate or they marked it slightly.
Either way, the deal looks good... quetion them about the rate before signing, but if they don't budge, know the deal is still worth taking.
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- #78 of 173
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Re: Should I take this? [wkalexand]
by gryan
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Feb 25, 2008 (7:42 pm)
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Replying to: wkalexand (Feb 25, 2008 6:08 pm)
i also was told the factor was .00245 and as a previous customer i could get.00235 you can also put down 9 payments or as they call them multiple security deposits. this would lower the money factor to around .00175 then your payment would be much lower and you get the 9 payments back at the end. i did this with my 2004 ls 430. you may be able to get down to grand per month
i do feel that $9000 off msrp is great my dealer offered $8000 and i really had to push for that
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- #79 of 173
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Re: LS 460 lease [gryan]
by Car_man HOST
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Mar 06, 2008 (3:20 am)
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Replying to: gryan (Feb 24, 2008 4:06 pm)
Hi gryan. Making multiple security deposits on a Lexus is a much better way to reduce your monthly payment than making a capitalized cost reduction. Lexus Financial Services provides a .00010 money factor reduction for each additional deposit that lessees make, up to a maximum of nine. If I was in the market for a Lexus, I definitely would consider going this route. You're definitely getting a better rate of return here than putting your money in bonds, CDs, or a savings account right now. LFS also has an advance payment option on leases. It provides a money factor reduction of .00100 for consumers who pay for their entire lease in advance.
Car_man
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- #80 of 173
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Re: Should I take this? [gryan]
by Car_man HOST
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Mar 06, 2008 (3:33 am)
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Replying to: gryan (Feb 25, 2008 7:42 pm)
For those of you who are interested, I believe that Lexus Financial Services lowered its standard lease money factor, what you would have to use to lease an LS 460 right now, to .00235 for customers who qualify for its top credit tier at the end of February. This may vary a little by region though.
Car_man
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- #81 of 173
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Multiple Security Deposits
by rorser
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Mar 13, 2008 (8:11 am)
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Say, I'm being told entirely different things by two Lexus dealers. One says multiple Security Deposits means multiple monthly payments, the other says $500 per Sec Dep. That is a big diff. If I make 9 X $500 vs. 9 X $1,400 up front to reduce my money factor. Who is correct? Thanks. R
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- #82 of 173
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Re: Multiple Security Deposits [rorser]
by gryan
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Mar 13, 2008 (8:21 am)
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Replying to: rorser (Mar 13, 2008 8:11 am)
I am told it is the equivelent of your monthly payment rounded up to nearest $25 of course by doing it your payment will go done from 1400 because the money factor will now be lower, hope this helps. one other thing is NY does not allow this.
Good luck
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- #83 of 173
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Re: Should I take this? [Car_man]
by rorser
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Mar 13, 2008 (8:33 am)
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Replying to: Car_man (Mar 06, 2008 3:33 am)
I am being told by my N. Calif Lexus dealers that for each SD I make, up to 9, that the MF will be reduced by .008 for a total of .072 reduction. I believe you quoted a different figure. Also, I am being told that a SD = one month's payment, which seems odd to me. If my payment for a LS460-L is $1,300, that's a 12 grand deposit. Can you clarify Car_man?
Richard
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- #84 of 173
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Re: Should I take this? [rorser]
by rorser
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Mar 13, 2008 (8:36 am)
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Replying to: rorser (Mar 13, 2008 8:33 am)
Thanks. That seems to be what most dealers are telling me, but there is one who absolutely insists that each SD = $500. I'll call him again. Thank you.
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- #85 of 173
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Re: Should I take this? [rorser]
by ocautoseeker
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Mar 13, 2008 (5:45 pm)
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Replying to: rorser (Mar 13, 2008 8:33 am)
We've seen this number vary, but the discount should be anywhere from .00007 - .0001 for each additional SD.
MSD's are made up-front.
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- #86 of 173
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Re: Should I take this? [ocautoseeker]
by rorser
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Mar 13, 2008 (8:01 pm)
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Replying to: ocautoseeker (Mar 13, 2008 5:45 pm)
What constitutes a Security Deposit? I have been told everything from $500 to the lease payment amount rounded to nearest $50. This is a huge range. I have heard that each SD reduces the MF by .00008 and that you can pay 8 or 9 of them.
But, what constitutes a SD?
I am being offered a MF of .000310 on a 48 mo. lease with a Cap Cost of $77,330 which includes the $600 Acquisition Fee. Any way I might get my payment down beside the $1,400 SDs?
Thanks, R
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