Hey guys, I’m located in Denver and just got back from the dealer regarding a 2017 ES 350 Lease. The dealer provided these information MSRP $47,225, Savings $2,536, Rebate $4000, Cap Cost / MVP $44,689, Sales Tax $2370.69, Dealer/State Fees $502.20 making the TOTAL PRICE $47,561.89. Customer Cash $3,000 and Drive Off is marked as $7000. The Residual Value is 51% and I’m planning to lease for 36 months with 10,000 miles annual. I kept telling the sales rep that the $3000 i wish to put down is MSD but she kept saying yes that’s the “down payment”. I know people recommend never putting down payment on a lease and to use MSD but i get the feeling my sales rep didn’t understand what those are. First questions is if this is a good deal? (monthly payment $487.86). Second is should I get the sales rep to mark my $3,000 as MSD in writing in the contract so i know I will be refunded at the end of the lease? Also, shouldn’t the rebate be applied to the TOTAL SALE price which lowers the price to $43,561.89? I think they combined my rebate with the $3000 that I wish to put down as MSD therefore allowing the TOTAL Price to be higher. Would love to get some feedbacks on if the numbers match up. I was told to come here for answers so thanks in advance!
Yup. You’re getting screwed. It looks like the current 2017 incentives on the ES are
Lexus Performance Cash $3000
Loyalty (You need a lexus registration) is $1500
College (Need Diploma) is $1000
So the dealer is only taking $2,536 off a 2017 model. That’s BS. Go on NADAguides and truecar to get the average selling price BEFORE incentives. On an MSRP of 48K, NADAguides comes back with a price of around $43500K before incentives.
After an additional $3K off, it would be $40k.
Also look at money factor. Don’t let them screw you there. The current buyrate is .00001 and 50% residual on 12k/36 which means you cannot use any more MSDs.
Wow thanks for the reply! So basically the car total price should be around the $40,000 range. I should also not be putting anything down since the MF Rate is already really low. If I can get them to negotiate the total price of the car to $40,000 and nothing down then I have a decent deal? In that case, would you happen to know approximately how much per month I should be paying? Once again, really appreciate you taking the time to help me out.
Some nice price [20]
Erm sorry, I’m genuinely not sure whether you’re being sarcastic or if you actually think that’s a good price. It would help if you can elaborate. Thanks!
Do I even need to?..
If you negotiate down to $40K before incentives SIGN ASAP. lol otherwise SIGN at 43.5K before incentives. 40K after.