I took my 2019 Lexus ES 350 F Sport W/O Nav for service today 03/04/2021 (15k miles) a 2 year lease. And guess what ? I end up with a brand new one Black Line Special Edition W/ Navigation higher MSRP and I should get a 2-Piece Luggage Set at home soon for the same $500/month & Zero Down (tax included).
They bought my car for $32,500.00, payoff was $30,583.46, so basically that was the magic.
I’m having a hard time putting together the lease hack calculator, so if someone wants to help please be my guess, I will post the lease docs here …
Year: 2021
Make: Lexus
Model: ES 350 (White / White Interior)
Trim: F Sport Black Line Special Edition W/ Navigation
MSRP: $50,725.00
Monthly Payment: $500 w/tax
Drive-Off Amount: $500 (First Payment)
Months: 36
Annual Mileage: 10
Region: Southeast - Florida
@Roger_Ambar please don’t take our critiques personally. The intent really is to get you to step back and not rush in next time, not to attack you here.
Thanks, I posted here to help and see exactly the leasehackr calculator score.
I don’t mind about negative comments, I do think it’s a good deal for the car as they hold their value a lot…
I hope someone can put together the numbers so I can confirm the BAD DEAL lol
IMO: The reason I think it’s not a “bad deal”, it’s because I was leasing the same car, without Nav, not a special edition, lower MSRP and paying the same $500. So probably a worse deal, but even with that crap deal after 2 years with it I wasn’t under water anymore.
You can put them in yourself to learn my friend. The score doesn’t matter honestly. All it is, is MSRP divided by payment. It’s totally meaningless.
Yes used car values are insane right now, so it’s definitely not a bad idea to take advantage, but having equity is the same as having cash in your hand.
My S2K is worth about $20k trade in…should I walk into the Honda dealer tomorrow and have them pay me to lease any car on the lot?
My Accord has about $10k positive equity in it…same question, but my selection is much more limited
Having $1,916.54 of trade equity and rolling it into a new lease is no different than putting $1,916.54 of your own money down. It’s your money. And who knows if a Lexus (or other) dealer across town would have given you more for it, let alone all of the easy online options.
Just enjoy the new ride and learn for next time Thank you for posting the contract to analyze!
Most LeaseHackrs would not have walked into a dealership and walked out with a new car, without having done their homework (i.e. knowing what incentives were available, what pre-incentive discount was achievable and all the other details).
Since it sounds like your goal was to remain at the same monthly payment, it might look like a good deal to you. To the rest of us, you probably left some money on the table. How much? No clue, but since your deal is already signed there is no point for me to even comment further on your deal.
