I am currently trying to work out a deal for a 2021 Lexus GX460 in NY zip code 12446. I punched in the numbers on the calculator. Is this a good deal? Thanks!
It is practically impossible for us to tell you what a “good” monthly payment is for your specific lease as lease programs are highly dependent on region, personal qualifications, tax rates, etc.
We always recommend the following method before you ever contact a dealership. If you do all of the work up front, you’ll have a stress free dealer experience and set yourself for success.
- Read Leasing 101 (Blog | LEASEHACKR) to understand how to calculate a lease payment and the variables. Monthly payment is an output, not an input!!
- Pick a specific vehicle that you want to target
- Gather the current MF, RV and incentives from Edmunds forums for your zip code
- Research the LH marketplace and other deals that have been made recently on your vehicle - what was their pre-incentive discount? How did their lease terms differ?
- Plug your numbers into the LH calculator, and use a pre-incentive discount similar to what you have seen
- Create a target deal, this is what you’re trying to negotiate to. You can try different terms, selling price discount, etc. and see how your monthly payment is affected. It is also possible that different trims of your vehicle may have different MF and RV (i.e. this is very common with GM), so make sure that you look into that. Come up with a set of inputs that give you the output that you want - your desired monthly payment.
With a target price determined, you now have a deal to pursue and compare dealer offers against. More importantly, you have a solid foundation to work from.
Solid deal on this one. I see you followed @mllcb42 steps based on the calc.
I would look into seeing the difference on the 39 month term, there might be some value to be gained.
I am working on all the above. The issue I’m having is with number #4 I don’t see any recent deals on the GX’s
His calculator link is similar pricing. @86Mets is this an actual offer from a dealer, or is this what you are proposing?
This is what I was thinking of countering with. I don’t have all the specifics but their offer was 3 years 12k per $580 a month $3000 DAS
Decent deal with 12k a year. Tri-state dealer offered me $599 w/$1k das on a 39/7.5k $58300 GX460 and that included loyalty and grad rebate. You’re getting a healthy % off msrp.
This looks like a good (pretty aggressive) target that should be achievable, especially towards the end of March. Assuming MF/RV/rebates are verified and correct.
Keep this in mind when you are trying to match an out of state broker deal: The NY dealer is not getting an 899 doc fee and there is a broker fee. NY deal can be just as strong with a lower discount off MSRP.
I got the MF/RV/rebate off the edmunds forum so I believe they are correct
This is what the 39 months looks like. Any thoughts?
39 mo RV can not be the same as 36
I was just responding to the “no recent deals” comment.
The link I posted was the second result when searching for “GX460,” not counting this thread, and it’s in the Northeast.
It took just seconds to find a recent deal using the search feature.
Infiniti and a couple other brands did that in the past.
Sorry, rookie mistake. I’ll find out the RV on 39 months
Hmm. Interesting. But I highly doubt it’s gonna be the case here
I found that offer but I can’t find any actual deals from buyers
Why wouldn’t you use a current, valid offer as a data point for what the market’s doing?
I thought I did with what I put into the calculator. I am new to all this I’m trying to learn on the fly. When I changed the numbers on his calculator the deals were very similar