Looking to lease a 2017 Lexus is350 F sport with a MSRP of $51,200
i was quoted $584 a month after tax from the dealership, which was very high. The lease calculator showed a value closer to $440.
Any help?
You could ask them to show you how they got to your $584 monthly.
The monthly payment is composed of 3 main parts
(1) Depreciation: this is the amount between the selling price and the residual divided by 36 (months). So your residual is $51,200 * 0.62 = $31,744. Based on your info, it seems like the sell price is $51,200 - $2000 - $500 - $1000 = $47,700 … ~$443/mo
(2) Interest: With the MF of 0.00038, that is < 1% interest so a couple of bucks a month
(3) Tax: 9-10% (WA?) * your monthly so maybe $40/mo
If you can figure out what is going on with each part broken down, it will be easy to see where you can get to $440. It seems like the best place for you is to figure out the actual discounts you are getting from MSRP - how much are they going to sell the car to you for? That will drive down (1) Depreciation … everything else is already good specially with the MF with your MSDs
It would be around $30/month rent charge, based on the numbers provided here.
I get to exactly $584/month incl 9% tax:
This assumes no discounts on the selling price except the combined $3,000 in rebates, which is probably what the dealer is doing.
How did you get to $440?
I re-did the number, I accidently did a residual of 67, when its 62 . I got a Montly paymen of 498.
What is a fair Sales Price of the car? I want to have a montly as close to 439 which is what Lexus website is showing for that model.
How should i negotiate the price of the car since its so new? KBB doesnt even give me a number. Truecar give me a market average of $48,916 which seems high
Absolute numbers are less relevant than % (off MSRP before incentives)
You should be aiming for below average (by definition, half the people paid below avg). Where you end up depends on how competitive your local market is.