I don’t follow Lexus, or west coast deals in general, but brokers are offering 6% off preincentive in the east coast, so 10k off (8k since they are clawing back 2k in add ons) seems fine if it’s true. Even know you plan to buy right away you should still get accurate numbers in the calculator so you can get a ballpark payoff.
I adjusted your money factor to .00320 which is correct for this vehicle and added 2k in dealer fees for the add ons and getting $739 sign and drive. Still a bit of descrepency from the 750-800 they quoted you. Maybe a marked up mf? Not that it matters if you are buying it out.
At this price, you buyout would be about $40,600 plus taxes/fees, assuming you don’t make any lease payments.
Exactly…I don’t think he gets it…he needs to have a good understanding of what his cap is…they may be burying plenty of add ons there that will make buy out substantially higher.
If he isn’t going to reverse engineer the exact payment with calc I guess Pancho just needs to be absolutely sure of what his cap is on the ACTUAL lease contract…from above it looks like it should be 41365.
Yes, gohawk, you are correct, those numbers. As i plan on buying out quickly, should i be paying attention to, worrying about anything else? My only request was zero down.
I’d be prepared to really go over how the cap is built section upon signing and really reading the early payoff section so you know exactly how payoff is calculated. Tread carefully with finance guy on your plans as he isn’t going to be happy if you say anything about sub 3-4 month payoff and may play some games to get his $ elsewhere.
Got it. Lexus fin svs confirmed to me no pre pay penalty, anytime, and that buyout would be very very close to my cap cost if i buyout quickly (told them i’m moving to another state w/ a big signing bonus-hence, me buying out lease). The Salesman told me not to mention my plans to anyone else. These ev lexus’ aren’t selling, sitting on lots. Thank u to all the pros. Anything else to add?
If you intend to buyout the lease via bank finance, keep in mind the bank will most likely require the title in 20 days and often it will take longer then that for the leasing company to possess the title. If you will pay cash, you may still need to wait for the title work and registration to legally process the ownership change, but would be under no financial time constraint to do so.
In California, you get a printed out temporary license plate the day you take delivery of a car. I believe it is valid for 3 months. The real plates and annual sticker are sent to the lessee about a month or so later. You keep the same plates in California following a transfer of title, so there should not be an issue with expired temp tags.
OP didn’t research correct MF for calc and used default one that was a third of the correct one…so he got 500 instead of near 700 with correct MF of .302
Except half the people don’t bother replacing paper plates until they fall apart . Passive aggressive protest against not being able to drive around with old style dealer paper plates to show that you got a new car.
Hi. They are all (i.e. Crown, south county, tustin, riverside, westminster, south bay) offering these lease deals, but only lease & only on the ev’s. Not on gx’s or ice models. We’ve been looking at the rz, because the range is terrible (196mi), no frunk, limited fast charging, lexus screwed up w/ this car, all reviews are terrible, but we plan on using it only in the city. the range issue & lack of fast dc capabilities doesn’t bother us as we never go anywhere. Good luck.
So the deal isnt what he thought. By taking the time to figure out why the monthly is so far off, he would be able to work out where the disconnect is and hopefully identify things like that cap cost/buyout is still a good $1500 higher than the itemized deal listed because of the upfront taxes being ignored.
Just realized somthing when trying to calculate the potential buyout. When you check off 0 drive off, the monthly payment breakdown does not add up to the monthly payment. The breakdown adds up to $590. This was using my Calc posted above. To find the buyout I normally take depreciation x payments + residual, which wouldn’t be accurate with this breakdown. Does the Calc not function properly when doing 0 drive off? You seem to get a more accurate number assuming drive offs paid up front.
. Passive aggressive protest against not being able to drive around with old style dealer paper plates to show that you got a new car.