Based off of this, what would be the accurate monthly payments?
That’s the only reason, the risks? What if you have replacement cost coverage on your insurance?
So your point is that this would be a good deal if I:
- Put less down
- Shorter term
- Used MSDs
This would result in a substantially higher monthly payment, no? So the general sense of a good deal is to pay more, but carry less risk? i.e., car being totaled?
LFS includes free GAP, so I see no point in getting replacement coverage.
Leases have a sweet spot and it’s usually 36 months. Did you run the deal at 36 month vs 45 months?
I think the dealer marked up your MF by a lot, unless 45 month terms have a much higher MF. Below is how I would have structured the deal.
Dude you need to read up on leasing. When the moment of enlightenment arrives, Nirvana
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Check out the market place. There is a deal on basically the same car for the same payment without 8k down.
You want
Assuming residual and incentives are the same in CA as they are in the Northeast, your terms were grotesquely, artificially inflated. Not a dealer is want to work with.
But, you have to arm yourself with knowledge before you walk through the door about the process before soliciting a quote. Salesperson smelled fresh meat. Hard to blame him/her.
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Unfortunately they are not. Residual is set to 50-52% here; and not the 59% seen in the tri-state area I guess. Money factor is different as well. And, these aren’t negotiable. Out of curiosity, how does a dealer artificially inflate things?
Minus putting money down, not sure how else I can negotiate a better deal? Seems as if that RX deal is still going to be in the mid 500’s after tax a month? Pretty on par with mine if I didn’t put anything down, or?
Anything in particular you think I’m not getting?
MF does not change depending on the term on the RX in my area.
They would be ~$480 a month INCLUDING tax. Still bad?
How do you know? Did you confirm the MF on Edmunds?
59% is for 36 months.
You are paying $30820 for the 45 month lease, then buying it out for $33469+tax+interest. That’s probably over $70k for what should have been under $60k OTD.
Check Edmunds. I have trouble believing the swing is that big. The residual may be right at 45 months – I’m seriously doubting it at 36 months.
MF can be inflated by, well, inflating it. The dealer can tack of their own percentage above and beyond as profit.
You’d be better off ordering from the broker referenced and shipping the car.
Did you check Edmunds yet?
Yeah, so, I don’t think you checked Edmunds.
According to the site,
“What’s the current lease cash, RV & MF for 2019 RX350 AWD 10k/36 in 98109. Thanks in advance.
.00075 MF and 58% residual
$2000 lease cash”
You’ll want to add another 1 percent for F Sport. That may not be your Zip code, but all you “9” people look alike to me. Likely the same where you are as in Seattle. You can post and ask specifically here:
Try to educate yourself a bit more on the process.
“Minus putting more money down…” dealers much love you. If you want a term that long do yourself a favor and buy it. Less likely you’ll get ripped off.