$52,490 Lexus ES350 Luxury
Michigan
I have Lexus Loyalty
15k Miles per year
$580 a month (includes tax)
$581 all in due at signing.
Like to get it to $550 a month without paying anymore at signing.
Possible?
What price do you get when you use the RV/MF/incentives from Edmunds for your region with comparable pre-incentive discounts from other deals you have researched here? How does that number compare to you $550/$0 das target?
I apologize for my ignorance, but I don’t really know what that means. I have been working with the same guy for my last 6 cars… I haven’t price checked him against anything or anybody. All I have is the door sticker and the payments he told me about.
It means your best bet is to step back from talking to any dealers until after you’ve spent a little while reading through the leasing 101 articles on here and doing some research. Basically, before you ever talk to a dealer, you should know what the vehicle should be leasing for based on the current terms that apply to your situation and research into comparable pre-incentive discounts. The key to a good deal is being overly educated on every aspect of the deal.
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Hold on here. Did you get this information from an advertisement or from a dealer?
First, don’t negotiate the monthly payment.
This info was provided to me by my dealer… my lease is up in May on my RX350, so my Sales Guy is looking to me to pull me ahead. We have been communicating via text… I am open to other vehicles though… I looked at the Volvo s90, but the price was high in January (no demos or incentive in the TROY, MI location). I also looked at the Cadillac CT6, and that was about $660 a month with $1k due at signing (MSRP bear $76k). The CT6 had a crazy residual of 70%. Any help you can provide would be helpful. I’d be willing to pay broker fees if people can get me a good deal too.
Part of the problem with providing feedback is that the info you’ve posted is insufficient, which is what others are suggesting.
For one thing, your original post doesn’t even specify the term (I’m assuming this isn’t a 96-month lease, but beyond that I’m not sure).
This article explains how lease payments are calculated (hint: don’t shop on the payment).
Whether you decide on the ES or something else, take the time to understand how the deal is constructed.
There are lots of ways to get screwed on a lease (even more than on a purchase), and the surest way to fall into every trap is by only looking at the payment.
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Don’t go into dealer without spending 1-2 days on forum. Try to get some sale price on truecar to compare-negotiate
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Thank you. I appreciate the info. This was for 36 months, 15k miles per year.
Are you sure that the “pull-ahead” on the Lexus is a pull-ahead program or is the dealer pushing your remaining payments into the new car. If so, I would just wait until then end of the lease.
The CT6 has a higher residual. You need to look for discounts and rebates. Negotiate the discount first and then add in rebates.
At first I thought this was a crazy statement, but I went to Edmunds to check and oh lord Cadillac is seriously inflating that residual a lot… for the same term as an ES 350 is almost a 10 point different… insane.
Stop going off initial dealer quotes to base what a car should lease for.
And whatever dealer told you that there were no incentives on an s90 in your region is full of it.
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You need to find out what discount you’re getting before incentives, what incentives they’re applying and what MF and RV is for 36/15.
There is really no excuse for ignorance since everything is already explained on this site.
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Once you’ve mastered the payment calculation methodology (link I posted above), you can run some what-if scenarios on the dealer discount to see what would required to get you to your stated payment goal (to see if it’s even reasonable).
Post a request on Edmunds for the MF, RV and incentives for your location.
You might also check out some recent ES deals posted by others and use those as comps.
I know this seems like pushing a rock up a hill at first, but once it all clicks the knowledge is incredibly liberating.
You might also consider using a broker if you don’t have the time or interest.
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I think this might become a very hackable lease in the future.
I couldn’t think a CT6 is hard to get 12% or more off of pre-incentives.
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Thanks for the info… I really appreciate everyone’s help. Hopefully I can get some more details from my dealer. I tried to go to edmunds to ask, but I think I need an account in order to ask questions.
If you all have any Michigan specific deals on Luxury cars, please let me know. I am willing to pay a broker fee.
The dealer is not a good resource for details. You shouldn’t speak to them about numbers until you already have that all sorted out.
Conversations with the dealer are for finding one that will do the deal that you want, not for figuring out what that deal should be.
Gotta love keyboard warriors. Have a blessed day my friend.
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This site is a fantastic resource to learn to fish. The instructions are all there for everyone to read and learn from if they take the time to learn instead of just demand others fish for them.