The final written offer I have on the 2020 GX460 LUXURY model is as follows:
$720/month (rounded) - all taxes and fees included
36 months/7.5K miles (adequate for us)
$0 down
Residual: $41K
MSRP: $68.5K
DAS: $200
With $0 down and given our credit score in 620s, this deal is better than any we are getting thusfar. Everyone else has quoted about mid-upper $700s-to-lower $800s per month even after back-and-forth negotiation.
Additionally, do you and others by any chance know if the vehicle comes with GAP insurance from the dealer (through manufacturer)? I spoke with the dealer and he has assured me that it is covered through the manufacturer just like all their new leased vehicles are but there is nothing in writing.
If you are okay paying $26.1k over the term of this lease, then go for it. There are better options out there at that price point. Have you looked at other cars in that segment?
With that credit score, I would save some cash to buy something less expensive and pay down personal debt.
I was recently given a monthly of ~550 with inceptions DAS and max MSDâs on a 36/12 and $61k MSRP. I thought that was a rip. Iâm currently paying $425 for a vehicle that was $3k more due to the sports package option in 2017. That said I may either extend another 6 months or buy a CPO Q7 3.0T⌠just my .02
I can assure you the 620s is not reflective of our true credit scores (we tend to stay in mid-700s). We just maxed out our cards on a long trip so naturally our scores dropped temporarily. I realize there are other cars that offer 3 rows etc for fraction of a price, but we only like a handful of SUVs (GX being liked by both of us). And if I am planning on keeping a vehicle for years to come, then Iâd rather go with SUV that I happen to like. And even if I went with a steal deal for this vehicle, I would still be paying closer to $500-600month with some money DAS for this same trim. While I truly truly appreciate your input and you are right that debt should be eliminated first, we are in a different group at the moment.
If your scores are usually in the 700s, then why not wait and pay the debt down. When youâre score is back where you say it should be, then look into a lease.
Just so some of my friends on this forum would stop going off topic and stop indulging in questions not directly related to the original question :- ) ,we are expecting our newborn in just few weeks and i feel the time is right to buy this present. Yes I know I would be paying extra compared to my peers who would otherwise pay less with better scores than ours at the moment, but my goal is to get as âbestâ (for lack of better term) of a deal I can get given my stats.
Now that we have cleared all that, can any volunteers shed some light on GAP insurance being offered by Lexus with all new leased vehicles but not directly included in writing? Many thanks and appreciate everyoneâs responses and assistance thusfar.
RV & MF are set. Dealer makes their money off of increasing MF. Your credit and payment history has nothing two do with these two factors.
As others have mentioned, get an Edmunds account, post in the forums under appropriate fees. You can gander at whatâs there, but its best to get your own & it takes less than 5 minutes and they respond quickly. Ask for MF,RV & incentives. Give them the specific trim , mileage, months & zip code.
MSDâs are helpful too! The Lexus dealer by me tried to say they donât do them much, which is crazy, itâs helps and they are returned at end of lease. They were being shady. Look up what they are to get informed, highly suggest it if you can swing it!
Thank you for your generalization. It also looks like you cannot read because I mentioned in one of my previous post that affordability is not the issue. I have a very good and stable salary. Just need to pick up GX within next few days as present and trying to see how much of a good deal I can get with the stats. Nothing wrong with that. Now if you cannot add anything productive to this thread, my humble request is that you just donât open it and move on to another thread which is more focused on what you are trying to accomplish. Appreciate you dropping by though.
Given the stress various lenders have coming in moving luxury items perhaps you will find more room in the coming weeks as Lexus a FinancialâŚ
Given your personal situation I totally understand where you are, had a new baby a few months ago and actually went out the night prior and just bought a new Expedition (after Lexus, Infinity and BMW test drives) and have been happy with it⌠Given where you are it sounds like you may just need to press if you can afford, the last version of the deal you presented may be as good as it gets until next monthâŚ
Weâre in a recession. It just wonât be officially announced for a while because the definition is backward looking. Youâve been in the job for only about a year or two which means youâre very replaceable which means youâre very expendable. Youâre drowning in CC debt. You canât afford MSD probably because your net worth is 0 or negative. And to top it all off, youâre about to have a baby.
And you think now is the time to indulge yourself with a âpresent for myselfâ? With $30,000 of more debt that âI can affordâ⌠for how long? 2 months without a job? 6? 12+?
Well said max_g⌠long time lurker here and I hate to see someone getting into this kind of situation. This reeks of bad decision making.
In an effort to be constructive though, have you considered a 3 year old GX? That way youâre at least not eating tens of thousands of depreciation w nothing to show. Sounds like you want to buy at the end of the lease so why not bite the bullet now and purchase a used one for about the same payment as the lease?
@Michael_B - OP wants what OP wants. I am no financial expert, but as some (including myself) have pointed out, the most recent numbers on this car are not the best. However, I wonât be driving this car.
I have made my point clear to OP. At the end of the day, they will be making that payment.
OP mind is already made up on the vehicle (hi @max_g, been a while for me, you have same good advice as always)
New grad, new baby, new âluxuryâ
OP is just asking non-financial questions like Gap insurance and stuff. Discount should be at least $10k to make this an âokâ deal with the regulars here. Has nothing to do with credit ⌠not sure what options are in AL in terms of dealers and the OP limited himself to this specific brand and model (only one they can agree on) so also not the âLH attitudeâ (best deal wins, should be flexible on brand/model/trim choices)
Why is everyone trying to give OP any kind of additional guidance or information? He only wants you to provide information related to this deal and this deal only. Shame on you all.
Lease transaction for a car that is going to be driven for yearsâŚ
Donât waste your collective breath trying to teach someone who doesnât want to learn.
OP has not done the necessary homework. OP has no intentions of doing the legwork to get a deal, just want a quick number that can be achieved.
If anything we can learn from this forum is no 2 deals are ever same (unless from a broker).
OP has no flexibility in terms of car or in terms of timing to negotiate. This is not going to be a futile negotiation.
RANT OVER
Sorry had to post cuz just couldnât stand the arrogance of ignorance.
