Lexus GX460 lease

I agree… Since I got absurd lease numbers on a base 4Runner, the GX460 is looking better and better. (since no one is helping with a AWD Equinox or Terrain)

The above is directly from the deal sheet, so not much more to add. As I mentioned, this included $3600 in MSDs (realizing that is higher than normal 8x multiple… not sure how they were able to do that… all I said was that i was looking for maximum MSDs and that’s what they came with to the table).

When we first started talking, they came in with a 36/10 offer of $489 but I thought i could get a better deal on a 45. The dealer was in NJ.

i wouldn’t consider extending lease term for a cheaper payment to be “a better deal”, it’s just a trade off, one that i personally wouldn’t do for many reasons incl possibly having to buy another set of tires, wanting a new car sooner etc.

Good points all, especially the tires, which I did not consider at the time but you’re right, they will be at best at the end of their useful life.

Looking at autobytel, is there a $4000 and $1500 incentive? Total of $5500?

https://www.autobytel.com/lexus/gx-460/2017/incentives/

$4k is probably for purchase/financing.

Yep, I just went and test drove a gx today… $1500 lease and $4k purchase rebates.

I got lease numbers, but they were in the $800 range per month ($0 down, 10k miles, 24 months) Nothing leasehackr worthy. I didn’t really negotiate, because we really are not ready to pursue one particular vehicle yet. Trying to find a leasehackr worthy deal up in AK is challenging…

Good Morning,

I have a deal on the table I am very close to signing today and after calling around to multiple dealerships, would like the blessing from this site.

2017 GX 470 MSRP $59,413

$2000 Total Down
39 Months/10K Miles Per Year

$492 PM including 6.25$ Mass Sales Tax.
Base Payment is $463

I love the deal. Do you guys agree?

Sorry meant to type GX460 above

Do a 36 month lease and do MSDs instead of any down payment.

Hey Jon,

Thank you.

I’ve never done MSD on a lease before. Can you explain why do that?

The $2000 total down covers first payment, acq, dealer doc, etc…

What I may do is 36/10 with $1000 total down at $528 per month instead.

Love the money factor at .0004 or .96% APR.

Do you like this deal?

Thanks for the help,
Mike

No, there have been better deals on the GX460 posted.

Hm. The best one I found prior to this was low 4s but it had no options ($53K MSRP).

Ill have to search around for potentially better ones, thanks.

When I spoke to the dealer, they told me MSDs arent worth it because the interest rate is so low. Strange.

I did all of this over the phone so far and am leaning towards 36/10 with 1000 total down for 528 as a starting point once I get there. I have no idea how the above person stated they got 6 months paid for. That’s pretty incredible.

The salesman I spoke to over the phone said once I come in, there’s probably more to be done here.

I may shoot for $1000 total down with 500 per month even at 36/10.

Don’t take incompetent dealers’ word for things. They don’t care if you save money with MSDs or not. They just want the deal done as quickly as possible.

Your immediate follow-up question to dealer regarding MSDs aren’t worth it is: “What is the money factor?” You should know in advance what the money factor is and how many security deposits it takes to get the money factor near zero, and how much per month that lowers the payment. If you feed them the numbers you are in control - if it is the other way around, you lose.

Also, if you go in to the dealer to “probably more to be done here”, leave with hard numbers in-hand without buying (you could say, I’d like a “lease worksheet”). Report your detailed numbers here and get feedback and then complete the lease paperwork at a different time. They will wear the hell out of you if you aren’t sure if you’re buying that day or not, and you might screw it up.

I leased one last month. The money factor is low, so I was allowed to put down 6 MSD max, but that lowered my payment by about $48. You should shoot for $460 with tax putting max MSDs and paying nothing else upfront, have them role everything in including 1st month payment. MSRP was $58,740.

2 Likes

You guys are great.

Here now thanks!

Thanks for everyone’s guidance.

I ended up walking because I questioned the SM and he got arrogant and said I was stupid for not taking it. F*ck him. Will never do business with them again,

On my way home and will speak with Herb Chambers in Sharon MA tomorrow who said they can beat the deal by $20 per month and then I’ll ask about MSDs too.

Honestly, you should be just negotiating the sales price before incentives. Then just make sure you get the base MF and no dealer add-ons.