Somehow I don’t believe this is a good deal at all? Is it? Since I read here and other forums having a greater discount on Vehicle Price which would lower your lease payment (aka one-pay lease as well).
Thus, my other question is, what would be a good one-pay lease deal for this particular RX350?
If I’m understanding your numbers correctly, it’s effectively $469/mo with $0 drive off…if that’s the case, that (at least to me) is a very attractive deal.
$469/mo seems about average on a $53k car, but the RX are in high demand. Unless some of that comes back to you in the end? If part of it is a deposit, then this deal may appear much better.
Isn’t there significantly more risk when you pay for a lease upfront in full? Seems super risky to drop $17k on a lease on day 1. The payment seems okay (under 1%) but unless I’m mistaken, I don’t think it’s near good enough to offset that financial risk.
Nope it’s one payment lump at day one - nothing comes back at end -
What is consider a good deal for 2017 RX350 on the MSRP 53k?
Or say what would be a deal that I shouldn’t need to negotiate further ? I have to negotiate down the vehicle sell price first correct? But what is consider a good deal (not average)?
13% off MSRP - gotcha ! Thank you for the tip . Meeting with sales guy this weekend again.
I believe sales guy mention something of cap insurance (or something I can’t recall) but protects lessor and lesser if anything happens to the car. But I thought that’s also covered under driver insurance no? I didn’t think much into that.
I was shopping the RX 350 yesterday and had the finance guy run me the numbers for a one-pay lease. He claimed that if I totaled the car Lexus does not reimburse me and I would be out all that cash. I know I’ve seen on this forum that GM and others will make you whole. Is there anywhere I can look to see if what he said is true? I know the cardinal rule of leasehackr is zero down, but it’s important that I keep my DTI low.
Btw, I got quoted $18k for a one-pay lease, similar MSRP of $55k. I wasn’t sold on the car so I didn’t bother negotiating.
I was told just like your own car insurance - you need to make sure you have a full auto insurance. Insurance will pay off the car for you - etc as if I own the car. So yes what you said it’s sorta-true. No different then if you finance to purchase the car or buy the car off the lot or just leasing X number months.
I’ve done a one pay lease with mercedes and Audi. Mercedes has a program where they will reimburse you a prorated amount to make you whole (it’s written in the contract), Audi does not.
I do not think gap insurance helps, as gap insurance is designed to cover the difference between current value of a car and the payoff; the assumption being that the value is less than the payoff.
in a one pay lease, the pay-off is the residual amount, so the value of the car will be higher than the payoff during most, if not all, of the lease term.
without having special language in the contract (i.e. with Mercedes), the biggest risk is totaling the car early on. the key for being made whole, or as close to whole is possible, is the valuation on the car by the insurance company. If the insurance co. feel the car has depreciated by $5k just by you driving it off the lot, and you have only used it for a month before its totaled (and only used $500 or so of your pre-paid amount), you’re going to take a big loss.
edit- I saved a ton by one paying my last 2 leases.
