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Lexus LX 570 Lease Questions

10 messages,  Last post on Oct 25, 2009 at 6:04 PM

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What is this discussion about? Lexus LX 470, Lexus LX 570, Car Buying, Car Leasing, SUV

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#8 of 10 Car Man Any Advice? by dgltj May 29, 2009 (5:01 am)
So I after months of searching I finally find a vehicle I like (the LX 570). The price I've been offered is $83200 48 month lease with the Mark Levinson sound system, Lexus Link (both of which I believe are standard in this model), climate control seats, park assist and of course the iPod integration. After spending 3 hours in the dealership and having the finance guy try to work me the offer they came up with is a monthly payment of around $1300. But wait this is after they value my trade-in at about $5K and with me putting down $15K. I don't know what money factor they used, but I'm assuming it is tied to an individual's credit rating and mine is a solid B. I can't help but think that: a) I'm not getting any kind of discount on the MSRP, b) with the amount of money I'm willing to put down I should be getting a much lower monthly payment, and c) I'm being taken for a ride. What advice can you give me on my next steps with the dealer? Thanks. Replies to this message: Car_man (Jun 01, 2009 2:41 am) gryan (Oct 25, 2009 6:04 pm)
#9 of 10 Re: Car Man Any Advice? [dgltj] by Car_man HOST Jun 01, 2009 (2:41 am)
Replying to: dgltj (May 29, 2009 5:01 am) Hi dgltj. did you say that the dealer is asking you to put down $15,000 on this lease ? That definitely is not a good idea. I always advise consumers not to make large down payments when leasing. Those who make them risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered. If you have money that's burning a hole in your pocket and you really want to lower your truck's monthly payment you should use the cash to make multiple security deposits on the truck that you want. Lexus Financial Services will lower the money factor that they use to calculate your truck's monthly payment by .00010 for each additional deposit that you make, up to a maximum of nine additional deposits. The beauty of MSDs is that unlike capitalized cost reductions which just disappear with you actually get your deposits back at lease end.   Furthermore, while I am not intimately familiar with what the market is like for the LX 570 right now I would be very surprised if you had to pay full MSRP for one after comparison shopping with a few dealers.   Try shopping around with a few other dealers and look into making multiple security deposits instead of a large down payment.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum Replies to this message: gryan (Oct 25, 2009 6:04 pm)
#10 of 10 Re: Car Man Any Advice? [Car_man] by gryan Oct 25, 2009 (6:04 pm)
Replying to: Car_man (Jun 01, 2009 2:41 am) I am looking at leasing a 2009 that was driven by the sales manager for 5000 miles. The Msrp is 83,000 and they will sell it for $69,000 or lease it for $1100 per month. i believe i lose residual value because it has 5000 miles on it? Should I wait for a 201o

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