Hi everyone, just picked up my first lease ever! 2020 NX300
Can you guys check out my details and let me know if I got a decent deal?
Paid title, tag and dealer fee upfront. No first months, no additional downpayment, no taxes. Protection package and 2 years free maintenance. Intial payment was $427 but went up to $442 with protection packages.
If that’s a stripped NX, it seems like not the best deal. Why didn’t you post asking for advice first?
1 Like
Must be stripped, options push them into the 40k’s. Unfortunately, you could’ve done much better😕.
Next time ask first and hopefully anyone else reading this learns from OPs mistake.
1 Like
What does Stripped mean? Sorry new to leasing and the board.
The deal was based on Edmund’s with zero down at 427 a month. They matched it and I just added the 15 a month wear and tear package.
Stripped = bottom of the line. Few if any options.
Got it! Where could’ve I done better? I’m new to this.
Edmund’s showed it at 427 a month.
Where could I have done better? Would love to know for the future. I though no money down, no taxes and the couple of incentives was good at $427 a month.
You should still be able to cancel the Excess Wear and the Maintenance Agreement.
How much does it cost to just pay the maintenance out of pocket? Probably not $1,111.
How hard are you on vehicles?
I’m paying $15 a month for the protection package. For not paying taxes, first month, I thought I got a good deal. I’m a bit confused as for what type of deal Shouldve received.
I’m not familiar with deals on this vehicle at all. I was just pointing out that you spent $2,000 on two things that may have little or no value, and which you should still be able to cancel.
You are paying taxes. There is no way around paying them. The dealer really has you drinking the Kool-aid
1 Like
From your other post you put an MSRP of $38,828. Doesn’t look like much if any discount other than the lease cash incentive. And as @trism pointed out, the additional add on items are overpriced.
Search similar deals of your vehicle here and you’ll find them in the $300s as you should’ve been.
Did you confirm MF/RV with Edmunds? Did you get base MF?
Yea I found others on the tread for 375 month or so but with 3000 down or around that type of downpayment. I checked with Edmunds and it was 427 with zero money down. My previous post was based on $1000 down from Edmund’s. However the maintenance was supposed to be complimentary but I do see it on the agreement at $1111.
Why have you tagged BMW in this thread?
1 Like
Put all your numbers into a LH calc and post it so we can get a better look at your deal. Something isn’t adding up with what you’re saying so let’s get a better look, payment seems too high.
1 Like
My apologies it was a mistake.
Here is a copy of the Calculator however I don’t really know how to use it exactly. I paid 1299 out of pocket for reg, title and dealer processing fee. I didn’t pay a first month payment. My contract doesn’t show taxes either. Please correct me if I am wrong. Thanks a bunch.
Just compare it to this broker’s deal and you will realize that your deal is not as attractive!
Year, Make, Model, and Trim: 2020 Lexus NX 300 F Sport
MSRP: $40XXX
Monthly Payment: $ 334+ t OR $377+t
Drive-Off Amount: $ MSD only OR $0 DAS
Months: 36
Annual Mileage: 10K
MF: BASE
Residual: 57%
Available Incentives: College Grad / Military $1000 available
Region: FL RESIDENTS ONLY
Here’s the way your deal was structured from putting together the info you’ve shared.
Your MSRP is incorrect, I fixed it in my calc. You can see the 54% residual should match the worksheet at $20,967 on line d.
You actually did get a sticker price discount but you gave it right back in purchasing the add ons and they also rolled in the $795 acq so your actual cap cost is $37,589 not $34,788.
You did indeed pay first month, tax, title etc fees in your down payment of $4,299. The calc shows $5,024 drive off…
first month $424,
upfront tax $301
Down payment $4,299 (they applied the incentive of $3,000 there which is why you only paid $1,299 out of pocket at signing.)
Your MF was marked up from .00075 to .00100
Now I can see why they said they’d match Edmunds monthly payment. For next time, you shouldn’t go after a monthly payment since deals can be structured a million different ways to get there. Always work the selling price as low as possible but I’ve read FL is a tough place to lease. I stand by my original statement that you could’ve done better. Let us help you BEFORE you sign next time.
Ps. You should be able to get the add ons removed which will improve the deal
Edit:
5 Likes
Typically you want about 10-11% dealer discount then add in the incentives. That would be considered a good deal assuming base money factor. How much discount did you receive and what are the incentives?
1 Like