I have been looking for a Lexus IS300 F sport for awhile now. I have an online quote that id like to share with the experts. Is this quote reasonable or can I get it cheaper? I really dont want to go over 400 a month but im assuming I will have to in order to get this car. Please let me know, any advice would be great.
Standard advice:
- Verify the MF and residual at Edmunds and compare to your deal
- Research other deals on here, how does this compare?
- Research broker listings, how does this compare?
For starters a quick search reveals the following deal signed earlier this month:
Updating my post with this:
I am located in PA
12,000 miles
MSRP $45,935
Dealer price $43,179
Residual 51% $ 23,427
Rebate $3259
College grad $1000 (I should be able to get this if I can get the paperwork ready)
I dont want to go over $400 a month. After reading all of the leasing 101 tips, here is my plan. Im going to negotiate the MSRP first, I want to try and get around 10-12% off. (is this reasonable?) Then negotiate the MF (if they mark it up) and then negotiate the monthly payment. Lexus also has an offer for this car right now that is 359 with 3999 DAS. Im thinking if I only do $2000 DAS that this may be reasonable
A little abbreviated, but you get the idea…
MSRP isn’t negotiable. It is what it is.
Discount is negotiable, but there’s no point in trying to negotiate line item by line item. They may agree to the discount that you want, but do so with a marked up MF. Trying to attack one without the other is a waste of time.
If you have all the lease details negotiated, there’s nothing to negotiate on the monthly payment. It is what it is based on the details.
Rather than look at dealer/manufacturer ads for the car, take the time to determine what the current lease details are and run the numbers based on what you qualify for and reasonable pre-incentive discounts based on your research here and see where that puts you.
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I meant to say dealer discount. My fault. I ran all the numbers, except for MF. I’m not sure what the current MF is, im waiting to hear back from someone on edmunds. So what do I walk into the dealer saying? I’m planning on going later tonight. Am I crazy to think I can get a payment of $400 a month? with no more thne 2000 DAS
You don’t.
Get the info you need to figure out the details and then negotiate remotely.
I have no clue. You need to run the numbers with all the data to sort this out.
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Step back and ask yourself if you can approximate all the pieces to a solid-great deal right now - based on your post I think you can answer this question in under 5 minutes. You have most of the pieces to do so:
- Pre-incentive 12% - run with it.
- While you are waiting for edmunds go see what edmunds has posted for RV, buy rate MF, lease cash for others with a zip near you - if you live in a big city there is a good chance by 7/28 someone has asked the same question you are waiting to be answered.
- Conditional incentives, you know what you qualify for.
- Basic fees, taxes and expenses - you should have a feel.
Run a calculator and post it.
Yea, going to the dealer in person tonight without knowing all the numbers and what a good deal would be is a disaster waiting to happen.
You’ll either end up signing for too much just because you’re there, or your offer isn’t realistic and it will be a waste of time.
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Thank you for helping. Here is the calculator link, this is with the current dealer discount (6%) and $2000 DAS Link
Here is the link for the calculator if I were to get 12% dealer discount. link (is that possible?)
The best I could do recently on an IS300 F-Sport was 10% off MSRP with $3500 in incentives. I don’t have Lexus loyalty, otherwise that would add another $1000. Most here will not suggest a down payment. Paying all taxes and fees upfront, you should be around $385-$425 with $2500 DAS.
Thanks for the info, I appreciate it. It’s nice knowing someone else has gotten similar to what I would like. If I can get to $400 I would sign. I’m going to shoot for 12% but I will be happy with 10. I should be able to get $1000 for college graduate, hopefully I have the right paperwork.
Goods stuff - your calculator is a good working model. Minor point - Dealer fees and taxes are off in your calculator. Are you familiar with fees and taxes for your state/city. If not, you can use the #s in the dealer ad that was part of your original post.
One additional point you have heard from others I want to reiterate - you do NOT negotiate monthly payment and DAS. You are negotiating a selling price at the buy rate MF. Plus you want the incentives you qualify for. Monthly and DAS is a simple math calculation from there.
Consider MSDs.
Rethink the need to put money down.
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Thank you for the feedback. What do you mean by rethink the money the DAS? I just wanted to
Pay taxes, etc. does $400 a month look like something I can achieve?
Your calculator has $1,000 down to reduce your cap cost.
Oh, I see now.
I found that the saws tax in PA is 6% but I’m a NJ resident so not sure if that would affect me and cause it to be 6.625%
PA counties add on 3-4% on top of the state’s 6% but as an NJ resident you would pay NJ rates (6.625%)*
*plus luxury surcharge of 0.4% of the selling price if it’s above $45,000