I am looking at a 2019 Lexus 350L. The dealer has me at a $659 pymt including tax, etc. I am puzzled because the calculator pasted below is giving me $628. Can you tell me what you think about this deal?
msrp $57,667
discount $4,724
sale price $52,943
total rebates $6,000
admin fee $199
acquisition fee $795
residual amt $32,870
mf .00041
mileage 12k
terms 27 months
I’ll be honest, this is not a very good deal. You should look got at least 11% to 13% max discount before incentives, especially on a 2019 model. Honestly, you should consider looking into the 2020 RX350L, the upgrades from the 19 to 20 are subtle but make a big change to the person. Apple CarPlay, android auto, touchpad, touch screen, update to navigation, screen much more crisp, the suspension is tighter and road noise is reduced.
The MF and the residual value is much better on the 2020 as well, I believe MF is .00005 and the RV is 63% from what I remember. If you can get anywhere from 8 to 11% discount ( if you are in cal, 11% is more achievable)before incentives on 2020, you are solid and your monthly payments will be significantly lower than the 2019 you are being quoted or similar pricing but a 2020 car rather than the 2019.
Is there a reason why you are looking at a 2019 and not the 2020? The bigger incentive is deceptive as the RV is 57%, MF is closer to 1% and the 6k incentive doesn’t compensate enough for it.
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This is so helpful! I thought we’d get a better deal on the 2019 but what you are saying makes a lot of sense. And I would prefer having Apple CarPlay if possible. I am in the Midwest and new to leasing. There aren’t a lot of dealers in my area and it’s rather frustrating not being able to nail down a price easily. (Honestly, it is easier to buy a house. LOL)
The best is to lay out your expectations in your email to the dealer, just saying you are looking on closing a deal on a lease by end of year and do not want to go back and forth and waste each other time. Then state what you are looking for and make sure you have the stock number car you want.
11% discount before incentives , buy rate MF etc… and see which ones are willing to budge. If they say come in and let’s discuss. Say you are very busy with work and end of year close. So you would like to get as close as possible before you go to the dealership. See how that goes.