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 
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.