I’m reading “additional reduction” as the actual dealer rebate and the near 4K as his down payment.
You still haven’t clearly listed the dealer discount before ANY incentives.
The “cap reduction” and “additional reduction” you list are how your rebates are being applied (to cover inceptions and remainder used as CCR).
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Post a picture of this quote sheet. You may have transcribed something wrong.
Here is the email.
Sale Vehicle: New 2021 LEXUS RX 350 2WD 9430 4dr Wgn L w/AC , Automatic , Odom: 6 , Stock No: 2212120
Payment Details
Term 36
Base Payment 467.75
Total Payment 504.01 (includes sales tax 7.75%)
Purchase Option 32,769.30
MSRP 57,490.00
Est. Miles Per Year 7,500
Disposition Fee 350.00
Excess Mileage Charge 0.25
Amount Due at Signing (all fees and 1st months payment included)
1st Month Payment 504.01
Fees & Insurance 751.75
Upfront Taxes 311.67
Total Inception Fees 1,567.43
Rebate as Cap Reduction 3,936.57
Total Drive Off 5,504.00
How Inception Fees are Paid
Rebate as Drive Off 1,567.43
Total Credits 1,567.43
Remaining Due (Still Owed) 0.00
Total Cash Required on Delivery 0.00
| Stock Number | 2212120 |
|---|---|
| Model Year | 2021 |
| Model Description | RX 350L 5-DOOR SUV 4X2 |
| Exterior Color | 0085 EMINENT WHITE PEARL |
| Interior Color | EA23 BLACK |
| Body | 5-DOOR SUV 4X2 |
| Number of Cylinders | 6 |
| Engine Number | 2GR- K886327 (J) |
| Labeled Weight | 6.1 |
| Tradeable | YES |
| LCCS | NO |
| Damaged | NO DAMAGE |
| Fleet | NON-FLEET |
| Port PDS | NO |
| Lexus Enform | YES |
| XM Radio | YES |
| Connected Services | ENFORM AUDIO PREM CY19 |
| Additional Services | L2 FOR US |
| Remote Customization | NO |
| Allocation Number | 011 |
| Order Number | 7171361 |
| Temp Serial Number | M102CC02 |
| Category | G |
| Current Dealer | 310-60402 |
| Wholesale Dealer | 60402 |
| Previous Dealer | 00310 |
| Activity Status | |
| Location Date | |
| Invoice Date | 2/10/2021 |
Packages
Accessories
F CG Wireless Charger
F FV 20" Dark Alloy Wheels with Machined Finish
F HS Heated and Ventilated Front Seats
F NW 12.3" Navigation System/12-speaker Premium Audio Audio
F PB Touch-Free Power Rear Door with Kick Sensor
F PJ Premium Paint Charge
F PM Premium Package Includes: Power Tilt/Slide Moonroof, Wood Ornamentation, Driver Seat Memory
F RP Panoramic View Monitor with Intuitive Parking Assist and Rear Cross Traffic Braking
F WU Heated Wood & Leather Steering Wheel
P C1 Carpet Cargo Mat
P GN Cargo Net
P KG Key Gloves
STANDARD FEATURES
3.5 Liter 290HP V6 Engine 8-Speed Automatic Transmission 18" Aluminum Alloy Wheels Lexus Safety System+ 2.0: Lane Tracing Assist, Road Sign Assist, Pre-Collision System with Pedestrian Detection, Dynamic Radar Cruise Control, Lane Departure Alert with Steering Assist, and Intelligent High Beam Headlamps Blind Spot Monitor with Rear Cross Traffic Alert 10 Airbags, Brake Assist, Smart Stop Technology SmartAccess with Push-button Start/Stop Bi-LED Headlamps LED Taillamps, Illuminated Door Handles, and Daytime Running Lights Lexus Enform Safety Connect (3-Yr Trial Included) Lexus Enform Service Connect (Included for the First 10-Years of Ownership) 9 Speaker Lexus Multimedia System/6 USB Ports Apple CarPlay and Android Auto Compatible Lexus Enform Wi-Fi (4GB/3-Month Trial Included) Lexus Enform Remote (3-Year Trial Included) Compatible w/Smartphone, Smartwatch or Devices Enabled with Google Assistant or Amazon Alexa Lexus Enform App Suite 2.0 w/Amazon Alexa Integration 4.2" Color Multi-Information Display SiriusXM Satellite Radio (3-Month All Access Trial Included) Power Tilt-and-Telescopic Steering Column Power-fold Auto-dim Outside Mirrors with Memory Rear View Mirror - Auto-dim, HomeLink Garage Door Opener Rain-sensing Wipers Auto Tri-Zone Climate Control w/Rear Ctrl Panel Reclining/Sliding 40/20/40 Split 2nd Row Seat Power-fold Third-row Seats Power Back Door, Aluminum Roof Rails First Aid Kit/Carpet Floor Mats
Show Dealer Price
| Retail Price | Total Price | |
|---|---|---|
| Vehicle Base Model | 48,000.00 | 48,000.00 |
| 12.3" Navigation System/12-speaker Premium Audio Audio | 2,285.00 | 2,285.00 |
| 20" Dark Alloy Wheels with Machined Finish | 1,130.00 | 1,130.00 |
| Heated and Ventilated Front Seats | 640.00 | 640.00 |
| Heated Wood & Leather Steering Wheel | 450.00 | 450.00 |
| Panoramic View Monitor with Intuitive Parking Assist and Rear Cross Traffic Braking | 1,365.00 | 1,365.00 |
| Premium Package Includes: Power Tilt/Slide Moonroof, Wood Ornamentation, Driver Seat Memory | 1,580.00 | 1,580.00 |
| Premium Paint Charge | 425.00 | 425.00 |
| Touch-Free Power Rear Door with Kick Sensor | 150.00 | 150.00 |
| Wireless Charger | 200.00 | 200.00 |
| Cargo Net | 75.00 | 75.00 |
| Carpet Cargo Mat | 140.00 | 140.00 |
| Key Gloves | 25.00 | 25.00 |
| Total Accessories | 8,465.00 | 8,465.00 |
| Destination Charge | 1,025.00 | 1,025.00 |
| LDA | ||
| Total Price |
Asked for 10% before incentives and i got it. I don’t quite understand the math but it is 500 a month with zero due at signing. the difference here I see is that it is 10K miles a month vs 7500. which was probably way too low for me anyways.
I plugged it into the calculator and it is 18.5% off MSRP.
detail below.
I am not put any money out at all! zero drive off.
Sale Vehicle: New 2021 LEXUS RX 350 2WD 9430 4dr Wgn L w/AC , Automatic , Odom: 6 , Stock No: 2212120
Payment Details
Term 36
Base Payment 463.79
Total Payment 499.74 (includes sales tax 7.75%)
Purchase Option 32,194.40
MSRP 57,490.00
Sell 51,741.00
Est. Miles Per Year 10,000
Disposition Fee 350.00
Excess Mileage Charge 0.25
Amount Due at Signing
1st Month Payment 499.74
Fees & Insurance 751.75
Upfront Taxes 311.61
Total Inception Fees 1,563.10
Rebate as Cap Reduction 3,935.90
Total Drive Off 5,499.00
How Inception Fees are Paid
Rebate as Drive Off 1,563.10
Total Credits 1,563.10
Remaining Due (Still Owed) 0.00
Total Cash Required on Delivery 0.00
Your calculator doesn’t have any of the incentives itemized out, making it very difficult to verify the numbers. Your breakdown has the selling price clearly listed. Conflating that with the incentives doesn’t do you any good.
Sorry, I will try to lay it out as best I could. MF-.0001 residual - 56%
Incentives-
2500-RXL
1500-Loyalty
1000-Grad
3935- Not sure but I think it is their price discount.
1563- Not sure but I think it is their price discount.
10498-total but that amount is too high.
If I plug into the calculator the discount amount should be 9888.28 (17.2%) to get 499 tax included zero out of pocket. with MF at .0001 residual- 56%
These aren’t their discount. This is just them explaining how the rebates are being applied (top amount as a cap cost reduction, bottom amount directly to drive offs)
Take it as this, if the final number matches your target deal/price you wanted to pay on the vehicle build you wanted then sign and move on.
if not, on to the next dealer.
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Thank You all for the advice. I have learn a lot. Just e-signed my deal. my car is getting delivered on Tuesday.
ended up with a RX350L AWD
MSRP-59750
3 years/ 10K a year.
zero due at signing and 522.55 a month.
MF-.0001
Residual-56%
Discount-18.9 percent off MSRP? not 100% sure on this.
my incentives -
-2500 Lexus lease cash
-1500 Loyalty
-1000 grad
Discount-5874.5 ??? not 100% on this one…
Why did this go up from the $499 you had before?
Edit: looks like you switched cars
I have noticed a good amount of 7500 mile leases lately. Is this a new trend? Or was I just not observant before.
I think it’s more that a lot of people aren’t driving near as much because of covid, so they don’t feel they need as many miles.
The incentives don’t count when normalizing the dealer discounts, since not everyone can qualify.
Having said that 9.83% is still a good deal.
Congrats
The price went up from 499-522 because I got the AWD and 10K miles per year vs originally 7500.
Well the 2500 should count as dealer discount as everyone gets that one. It is attached to the RX350.
Well two fold.
- Lease Cash is regional. $2500 in Cali might be $1750 in Nevada.
- Dealer discounts vs Factory incentives offer a different tax burden. I could be mistaken here, but factory incentives usually have a tax burden, while dealer discounts do not.
For the purposes of sharing with the community, the pre-incentive price allows folks a simple target to get to.
It’s only a dealer discount if it’s a discount from the dealer.
An incentive from lexus is an incentive from lexus. The dealer is not involved.
In California, incentives are subject to sales tax.
Some are, some are not. Depends on if it’s a direct to dealer incentive or not.