I’ve been negotiating a Lexus NX200t (12% off the $48k MSRP) and arrived at the lease finance discussion stage.
Here are the residual % for 10k miles per months:
27: 68%
30: 66%
33: 64%
36: 63%
So far so good.
But then they offered me a tier 1 with a 0.00165MF (which i can bring down to 0.00098 with 9MSD).
tier 1+ is at 0.00105.
Based on what I’ve seen on this forum and what other dealers offered me I feel like they can improve that MF but their finance manager says the opposite.
Did anybody successfully lowered a MF with lexus and what did you get?
I work at a Lexus store and They may be able to get you a tier exception if they have any left to use for the month to get you there or run alternate credit bureaus to see if they can get you tier 1+. Now I don’t have my programs with me but I don’t think tier1+ is that low this month I thinks it’s around .00120 but I could be wrong have to confirm for you in the am.
So the only option is that “tier exception”, it means they have no way to offer a MF in between 2 tiers: it’s either 0.00165, or 0.00120, something like 0.00130 isn’t an option?
Have you ever seen somebody without any credit history but a good enough situation get a tier1+ through a “tier exception”?
I also have doubts about MSD. How fair are they about giving them back at the end of the lease?
All in all, with a ~$1k down payment (acquisition, plate, doc fees) and 9MSD, I’m at $425/month for 36months or $450/month for 27months.
I think your getting a good deal considering the Msrp your car is at. I would focus on getting to tier 1+ it is hard for them to give you the exception with limited credit but possible. Try to get as close to that deal as you can at tier 1+ with no msd
I leased a Lexus NX F-Sport in March from a FL dealer. I already qualified for top tier credit rate but I was able to negotiate residual and money factor based on 7.5K Miles 36mo for a 10K lease. The dealer showed me the table from Lexus Financial and it matched what I had already obtained from Edmunds forums.
MSRP was above 45K and I negotiated it to 39,112 but I managed to include all services and wear and tear warranty (about $1,300).
I ended-up paying $435/month including FL taxes. My drive-off costs were $4050 in MSDs and about $500 in license fees.
if you have excellent credit, will Lexus automatically give you tier 1+ or do they put you in tier 1 to try to make extra profit on the MF and only give you tier 1+ if you ask for it?
They can mark up the money factor but give you another tier like tier 1 won’t make much sense for them your more likely to see a more random money factor if it’s marked up not just another tier
