Advice Please

[JJBorrelli]

Here's my story, somewhat short. I currently lease a 2004 RX330 which my family has outgrown. Leased for $473 per month, expires August 2006. Looking at a brand new 2005 white GX470 with NAV. Sticker price 52K and change.

Dealer is offering me $655 per month, 36 months with zero down and getting me out of my RX330 which I still have 14 months remaining on. RX has 33K miles...

I would like my lease payment (with zero down) to be closer to $600 even. This is with 12K per year on the mileage which we wont exceed.

Can anyone offer some advice on if this is a "fair" deal or not? $655 is close but if I can get closer to $600 I would do it.

Thank you in advance.

John

[Unlisted]

Im sure some of those 14 payments are being added back into the new payment. Find out from another local dealer how much a real lease would be without the rx factor. $55. a month is alot of difference in a payment. That represents about a $2500. difference in price. Hard to find htat kind of pricing descrepency this time of year.

[JJBorrelli]

Excellent idea, I am checking lease payment without the RX factor now. Thank you.

Has anyone else leased theirs and would you mind sharing what deal you received?

[JJBorrelli]

Well, I only got one reply but I'll let you "all" know how it turned out anyway.

I ended up with a Pearl White GX470 w/NAV (for my wife) and I got out of my RX330 lease 14 months early. Payment of $599 w/$2k down, 15K miles per year. I opted for the autobahn protection as I do for all my cars, that was $495.

All in all, and especially after I called another dealer for quote not taking into consideration my RX, I feel I got a fair deal. By the way the other dealer quoted $720!!

[indiasfinest]

call me an idiot but what is an autobhan protection...

[JJBorrelli]

That is the clear film that covers the nose of the SUV and the back of the mirrors to protect from rock chips... Highly recommended on any new vehicle.

We picked up the GX today and after taking the family for a couple hour drive I am very happy with it. I was expecting more of a "truck" feel since we were used to the RX but surprisingly we found it quite comfortable.

[indiasfinest]

srry that was my son...jay shut up your an idiot...

[lenore]

srry that was my son...jay shut up your an idiot...

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I personally will never understand leasing. Consummers reports has ran many comparisons and proved a lease is a bad deal with your money, The dealership is the only one making out. If you are a credit union customer they will also have comparisons when leasing and purchasing. just my opinion. good luck

[lexus411]

thats crazy, leasing is the way to go in most cases based on 3 factors over a 3 year period.

one the money factor which is the lease version of the interest rate is usually between 3-4.5% hard to find loan rates comparable.

little down payment required and your only paying tax on the period your using the car for.

the residual value that bank sets as the value after depreciation is usually$2-3k more then what the car is actually worth at the the end of the term. Thats their loss not yours and by any crazy chance you only did 15k miles over 3 years and there is equity in the car, the buyout is $20,000 and the trade-in value is more , have the dealer treat it as a trade in and if they appraise it for more then they will cut you a check back for the equity.

and if the car is in an accident and there is alot of bodywork the bank again takes that loss when the car is re-sold. If it was a trade in and you owned it the dealer could deduct thousands depending on the amount of bodywork done.

[SilverGX]

I pay cash for my vehicles and was told that was best since if turnout

to be a trouble free unit dont get rid of it. Like the Avalanche 82000

miles no problems it isnt going any place.

But if like a new vehicle every three years and dont load up the milea

and have to finance, lease a consideration

[JJBorrelli]

I leased the GX470 for my wife, she doesn't work and we now have two children hence the need for a larger SUV (actually, she does work her butt off taking care of the children).. She wont go over the 15K miles per year.

For me personally I cannot lease due to the mileage I put on my cars (about 28K/year). If I could lease I would! For one major reason; I LOVE NEW CARS!

Leasing for my wife allows me to "trade in" the vehicle every 3 years or so (this one we did 14 months early on a 39 month lease). This helps "satisfy" my craving for that new car smell! Basically, what you are paying for is the depreciation on the vehicle over the period of the lease.

I agree that if you're buying a car pay cash or put as much money down as possible. Cars are a depreciating asset. More of a liability than anything else.

However, for me they are a passion (and I assume most who are on these boards feel the same way). My wife and I have been married for 7 years and we counted up the cars we've had since, 11... The GX is my 4th lease and it works out just fine for me.

Thanks for the input everyone! So far the GX has been great! No "clunking" yet from the tranny which I've read about. I'll keep my fingers crossed on that one...

- John