Just signed a deal in NV. Heard I could Lease to take advantage of $7500 Incentive and then buy out shortly thereafter.
First time doing a lease. Is this an OK deal? Buying out in 45 days or less.
2024 Lexus RX 450h+
MSRP $75875.00
$1000 off MSRP
$999 Doc Fee (Ouch)
$1300 added charge for Shipping from out of state to NV Dealer
$7500 Lease Incentive
36 Months, 7500 Miles a year. Was told this would give better deal for buyout.
Money Factor .00334
Residual Value $44007.50
Residual Percentage is 58%
Monthly Lease payment $1231.45
Paid $1232 Down
Did the Calculator: Lease Hacker Score is 5.6 Years.
Preapproved with Bank that will finance buyout after lease, they require me to wait 45 days for title to clear DMV.
First post, please let me know if you need any more information.
Is this car worth the discounts vs the gas & hybrid versions?
Can you back out of this deal still? Why would you sign this…
I was wondering how long it would take for you to post….
Time will tell, I wanted the plug in hybrid.
Wish I would have known about this site before I signed. Not able to back out. Done deal. Taking delivery in a couple of days.
Then enjoy the car!
What would be the payoff when you buy it out at 45 days? MF is high so the payoff may surprise you
Wish I knew. I was going to buy this vehicle before I heard about the lease and then buy option. Hopefully it will save us thousands. Is there any way to calculate the approximate buyout? Will have made 2 or 3 payments by then. I have heard I will need to call Lexus Financial and they will calculate the buyout then.
Is that MSRP or market value selling price?
That is the total price with all the factory options and the DPH. Base MSRP is $68730.00.
If you haven’t taken delivery yet it may not be a done deal.
Really? You mean we could still back out? Thought once we signed last Tuesday and they took the deposit we were locked in. We were planning to go pick it up Tuesday evening (12/19).
You can approximate by calculating like this: residual $ + (monthly payment before tax x number of months left)
Oh No! If that is the case it will cost more then just buying it outright in the first place. Not what I was told would happen, but I have never leased before and tried to research. So many variables, is confusing to say the least. I asked about the money factor. Was told it is set by Lexus and not something they could change.
in california the car is not yours til you drive off the lot
you better pray nevada is the same
I am afraid you wont save anything by leasing vs buying. If anything, you will pay more because all the lease fees and the 8.5% interest rate you are paying on the lease cost. Like others said, back off from the deal since you havent taken delivery.
Well, glad I found this out now. Will call them tomorrow and let them know it is not going to happen as a lease. I am already approved with enough to just buy it and put some down to get to 80% Loan to Value that the Credit union wants. Will have to get them to redo it with a better deal to purchase instead. I did not look at what it costs to ship vehicles that night, checked on it the next day, I am sure they are inflating the shipping cost by at least double.
If you get out of it, which it sounds like is a high chance since you havent taken possession then call or text me 3104053507
Just call @Jeff_BeachCitiesAuto after you back out the deal from these guys and not try to buy or do business with them