My thread here may be helpful - 2019 Lexus RX 450h Luxury - Good Deal + Help with Calculator - happy to help you with all that I have learned. This is my first lease, too. We are ready to walk - just getting 7.5% and I’ve been asking for 9% all along.
You’re lucky that you have so many Lexus dealers around you. Here in the Minneapolis area we just have two and they are linked - so getting discounts it pretty difficult.
thank you. i was following your thread for a while. edmunds forum is where i went first . I think my effort to getting quotes and getting them beat has made my dealers around me hate me…
from what i could gather longo is the only volume dealer and they are more likely to beat other smaller dealer’s quotes…plus i want the ultra white and not all dealers have ultra white so I haven’t contacted those dealers
i just get the best sale price before incentive from one, and i start emailing one by one with the new quote to be beaten. out of the 10 dealers I sent to 6 because the other 4 either dont have the color i want OR they just don’t reply at all
If you want a very specific car / combo it limits your ability to negotiate. You need to decide if you want the lowest price on a combo you like or you want to pay more for a combo you love. Personal choice, I usually go for the lower price, it is only 3 years then onto the next.
true. there’s a black on gray that now i’m warming up to in a dealer next to me. Can I use the quote for a different color car and beat it? same package but different color. I’d like to think it’s possible
If MSRP is the same then yes. I wouldn’t start out by emailing everyone your current quote. I usually request their quote first to get the conversation going then I reply with a detailed typed out offer that I am looking for.
ya somewhere along the line I learned to only discuss sales price before incentives/rebates. I didn’t mass email all dealers at once to get the first quote beaten but rather one by one. But ya the MSRP is the almost the same…slightly less on the black/gray combo
What brand is it? It’s possible they don’t have a msd mf reduction program? Bmw yanked it off the table for a while and then brought it back.
Never mind, I see it’s a Lexus and they do msd reduction. Also, I assume the mf is high enough so that the msd reduction will actually make a difference?
Work sheet shows 0.00 interest rate. Can you share a worksheet prior to the application of msd?
Okay, here’s my two cennts for whatever it’s worth…
SP = 55782
Lexus acq fee = 795… … dealer could have marked it up…
doc fee = 85 (could be different depending upon acq fee)
Gross cap = 56662
Cash Cap reduc = 2317.89
Net Cap = 54344.11
RV = 60% x 62704 = 37622.40
Money Factor = 0.00045
Tax rate = 7.75%
Term = 36
base payment = 0.00045 x (54344.11 + 37622.40) +(54344.11 - 37622.40)/36 = 505.87
Tax = 7.75% x 505.87 = 39.20
Lease Payment = 545.07
Due on Delivery (DOD) = 7010.35 = sum of the fees directly above the DOD field.
Six concerns: 1st. 5 MSD’s should be 2750 (I believe Toyota rounds the payment up to the next whole $50… so,
550 x 5 = 2750. Perhaps it’s really 6 MSD’s of 550 each. You need to get this resolved. 2nd. you need to determine the acq fee and documentation fee that the dealer is charging. 3rd. The difference between the MSRP and sell price is 6922. How much of that is rebate/incentive (2250?)? If the rebate is 2250 off MSRP, then that leaves a dealer discount of 4672 which is about 7.5% off MSRP. If that is so, then you should be able to do much better (10% - 12%?) Check to see what others are paying in terms of sell price. 4th. I have no idea where he 1500 cash down comes into play. You’re making a 2317.89 cash cap reduction (i.e., cash down). So, the 1500 appears to be a non-factor and, apparently, can be treated as 0. 5th. As suggested, do not make a cash cap reduction. Your cost of money is almost free… so, cap as much as you can in the lease.Furthermore, a car is a depreciating asset and, therefore, an expense, not an investment. Use the money for more productive uses. 6th. What is the MF buy rate? Is it, in fact, 0.00085 according to edmunds? I’ve seen lower MF’s posted on edmunds but it may be different for your region.
If the MF before applying the 5 (or 6) MSD’s is 0.00085, then the base payment would have been 542.66 compared with 505.87 @ 0.00045 for a monthly payment savings of 36.79 which is not bad.
There is no 1500 down it seems, it’s drive off. Also the 2250 is a tax incentive because the 1472 checks out. The only mystery seems to be 5 or 6 MSD and that is $7/month difference.
Make sure your DAS should be around 1500 + MSD amount. Seems like a pretty good deal.
thanks delta
hes very slow with responding emails but based on the first lease …whatever sheet is called it says it’s 0.00085 mf. 55712 is cap cost before cap cost reduction. I’m just confused on 5 MSD being 2750 but in his system it’s 3300.
on the previous picture i posted i didn’t think else because the non-tax fee its 1435.75 and he said that includes acquisition fee (assuming it’s 795) and dmv registration (which is ~630 in orange county) and other small fees that adds to be roughly 1435.
but just now i got another offer from another dealer for cap cost of 55,500 so i’m waiting to see if that dealer can get me base rate and not mark up anything
can you explain to me why the 1500 “cash down” is not really a cash down in this scenario. I know not to put any cash down when leasing cars because it’s like paying extra money to get the monthly payment down
Can’t understand why the gross cap would be any different regardless of the money factor unless the intent is to have the same payment. I think the MDS’s are 6, not 5.
“the non-tax fee its 1435.75 and he said that includes acquisition fee (assuming it’s 795) and dmv registration (which is ~630 in orange county) and other small fees that adds to be roughly 1435.”
Non-taxable? Acquisitions fees are taxable in Florida.
“can you explain to me why the 1500 “cash down” is not really a cash down in this scenario?”
Nope. It doesn’t make any sense as far as I can tell. It’s not used anywhere.
