This was the deal agreed after a long story for other day.
They bought the previous car in what I was thought it was a different negotiation:
2019 NX 300
28k Miles
Payoff Amount: $19,871.76
Selling Price: $30,000 (Again after a long story)
Equity: $10,128.74
I agreed on used that equity for MSDS and $1500 to my deal so I received a check for $3,903.24, but then I see a whole restructuration of the contract including a trade in valued in the money I gave, I dont know why they did it this way but they payment was the agreed.
Not a good deal by any means , but did she got screwed by that way of putting the numbers by the dealer?..
More to do with the story i will post when I have time but includes yelling, manager owner bla bla bla lol… But yet still I dont see the number of the Selling price I saw when I agreed
WOW, that’s really really decent lexus discount I have ever seen since 2021. Is it a loaner? I can’t say no with this price even I don’t like new lexus design.
Yes this discount comes after a fight with a 15+ years costumer.
I just also say yes because of the discount but I still don’t know what they did with the contract
What you’ve written in your post vs. what is in the contract vs. what is in the calculator don’t match up (for instance, the contract states that the pay off was almost $24K, which is $4K than what you wrote).
Did your family member put another $2K as a cap cost reduction?
I haven’t leased b/f, but I don’t think they can do that. The payoff amount is a specifically defined amount. I assume that there could be some administrative or legal issues, if the listed amount was not correct.
You could ask the dealer to clarify why the payoff amount on your contract differs from what your understanding of what the payoff was supposed to be.
I am also still surprised by the discount. 15% (edit: 12%) for an NX seems… unreal. I know you said that there is some other story about it, but…
$507/mo by itself doesn’t sound so bad for a ~$40K car, but, including the listed down payment and possibly losing additional equity, it doesn’t seem like a good deal.
At any rate, maybe one of the more experienced posters will review your deal and post here. Something seems a bit (or maybe very) off your deal.
I have it at %12 Off MSRP and yes that’s why I came back to that dealer, I tried to find anything close to that but I wasn’t getting even an 8%
I don’t think I lost any equity, just because I have the check and MSDS and the payment was the agreed but let’s wait if someone can bring some more light to this
There is def some mystery in the way your contract is written. Your trade is listed as $23k buyout and it net you just over $6k in profit and $1500 in rebates on paper. MSD helped this deal and you got 10% before rebates. NX fwd is slightly less diserable but it is still a nice crossover. I would have done a onepay here and ride out that 2019 NX equity in the 2023 for the next 2 years.
Regardless, this will be a solid car for the next 2 years. 2.5l non turbo, pour that 87 octane in the tank and enjoy it.
Necromancing this in hopes to give you an answer, though hopefully youve stopped sweating over this 45 days later…
I’ve attached a breakdown of how to think about the your trade equity and where it went:
4725 to MSDS as a way to reduce the MF
3903.24 back to you in cash
1500 as cap reduction (cash)
As to what’s on the lease contract, the trade-in’s “payoff” is the result of 1) what they pay off to Lexus for your old NX, and 2) what they pay off to you (in cash). Whether this is the correct way to account for it on their end is another question, and one I don’t have the answer to. That said, it shouldn’t matter to you as all of your ~10k in equity went to cap reduction, MF reduction (deposit), or cash back to you (phew!)
I think you’re right, in which case they clearly subbed some rebate in and subtracted 1500 in value from the trade, right? Either way, there’s definitely 3k in Cash/Equity/rebates that is applied to the inception fees to arrive at the ~2100 CCR as I’ve shown. That would also explain the rebate/noncash credit that shows up on the contract
