First time using the site to help build a deal. How is this deal I’m receiving from the dealership?
Should I buy or can I get it better
2020 Lexus LS 500
MSRP: $78055
Selling Price: 70250
Monthly Payment: $828
Drive-Off Amount: $1880
Months: 36
Annual Mileage:10k
MF: 51
Residual: 51%
Incentives: $4860 Lexus Lease Cash
Region: South
Leasehackr Score: 8.4
Leasehackr Calculator Link:
Move your post to “Ask the Hackrs” and add the appropriate tag for your state.
@HersheySweet looks like that thread was closed.
Looks like 10% pre-incentive, which is decent for the LS 500. You can probably aim for 12-13% being that 2021s are already on dealer lots. Still, it might be better to look into purchase because you may be losing over $4,000 in cash incentives (I think it is still $9,000 total).
Besides the major difference in incentives with lease vs. purchase, look at the value of the LS 500 for the time and mileage you plan on putting on it. Unlike a 7-series or S-class, the Lexus tends to have better resale.
I was able to get it down to $64.5k
That’s $14k off including incentives
I am pleased with it
I moved on my 2019 Lexus
Had positive equity in it with Low miles
I have 2021 Audi RS7 Performance too
I do well with Leases
I looked into the purchase it, I’m only paying $37/more a month for the LS500
I couldn’t pass it up, I’m driving home in it now
Nice discount, Can you supply details and dealer info?
Help me understand why that’s important for next time. I plan on driving this vehicle about 600-750month.
I had 12k on my 2019, that I leased from Lexus. I think that’s why I was targeted was because of the positive equity I had in the vehicle and they could sell my car and make money instead of giving the money to me. I rolled that equity into my deal. One of the reasons why I leased the Lexus was for the flexibility and because this car resale value is always great.
I posted it in the Share Deal forum.
Dealer was great, John Sales Manager was easy to work with at Butler Lexus. Salesman was honest and responded to all my crazy demands. I purchased from my couch 500 miles away.
Congrats!! Enjoy in good health.
What I was mentioning was looking at if it costs more over. Your final pre-incentive discount was very good. Congratulations on the car.
Some vehicles lease better than they purchase. Others are the opposite. In this case, it really depends on if the increased purchase incentives work out better than the leasing incentives. To determine this, figure out length of ownership and total mileage and find resale values for a vehicle with those numbers of years and mileage. I would think the lease benefits a low mileage driver but the purchase benefits a high-mileage driver.
Then again, you may or may not have equity in the Lexus when it comes to true value of the vehicle versus the residual value. There are a lot of LH threads that talk about selling cars to VROOM, Carvana, etc. that discuss this in great detail.