BarrettF77 Posted December 18, 2005 Share Posted December 18, 2005 I am in the Dallas area and currently own a Acura TL that I am completely unhappy with. I am leasing the car currently and it will expire in 5 more months. I have been looking at the IS and they are shooting me a price of about 42,000 on the car with the upgrades that I am looking for which is fine. I was wondering what others had paid and were making on thier monthly car payments, as well as those who may have decided to purchase and what they are paying. Credit is not much of a problem as I am in the 780's. But here is my problem. The dealer said that the car is 42,000. Running rough figures at 7% interest, they are saying that payments 0 down would be 650 to 700 / month. So if residual is 52% and I am paying approx. 21,000 over 48 payments, that leave the interest at about 10,000 dollars. I am no Einstien, but that is just rediculous. What do you all think and would you recommend. I am thinking about going to my credit union and seeing if they will do a lease. If so, I am sure I can get a much better interest rate. Feed back is much appreciated! And by the way, love the forums, much more mature than all the screaming children over on the Acura side of things! Quote Link to comment Share on other sites More sharing options...
BarrettF77 Posted December 19, 2005 Author Share Posted December 19, 2005 I am in the Dallas area and currently own a Acura TL that I am completely unhappy with. I am leasing the car currently and it will expire in 5 more months. I have been looking at the IS and they are shooting me a price of about 42,000 on the car with the upgrades that I am looking for which is fine. I was wondering what others had paid and were making on thier monthly car payments, as well as those who may have decided to purchase and what they are paying. Credit is not much of a problem as I am in the 780's. But here is my problem. The dealer said that the car is 42,000. Running rough figures at 7% interest, they are saying that payments 0 down would be 650 to 700 / month. So if residual is 52% and I am paying approx. 21,000 over 48 payments, that leave the interest at about 10,000 dollars. I am no Einstien, but that is just rediculous. What do you all think and would you recommend. I am thinking about going to my credit union and seeing if they will do a lease. If so, I am sure I can get a much better interest rate. Feed back is much appreciated! And by the way, love the forums, much more mature than all the screaming children over on the Acura side of things! All these views and not one reply. Cmon guys. Quote Link to comment Share on other sites More sharing options...
bartkat Posted December 19, 2005 Share Posted December 19, 2005 There are lots of variable involved. You might want to check out some of the threads in this forum. Some guys have done their homework and got some good lease deals on IS. http://my.is/forums/forumdisplay.php?f=87 Also do some searching here on LOC. There've been several discussions on pros and cons and lease deals. I can't help any cause I never leased one. Quote Link to comment Share on other sites More sharing options...
BarrettF77 Posted December 19, 2005 Author Share Posted December 19, 2005 Thanks for the feedback. I have done my searches and am still looking for any more info you guys can shine on this. Thanks. Quote Link to comment Share on other sites More sharing options...
bartkat Posted December 19, 2005 Share Posted December 19, 2005 Did you read the one where the guy took his laptop to the dealership and sat there and calcuated the best possible lease deal, and they gave it to him? Quote Link to comment Share on other sites More sharing options...
BarrettF77 Posted December 19, 2005 Author Share Posted December 19, 2005 No, would you list these cause I think you are looking somewhere different. Quote Link to comment Share on other sites More sharing options...
sightalignment Posted December 19, 2005 Share Posted December 19, 2005 I think your not getting responses because the specials that Lexus is having is on financing not on lease. Perhaps it might be cheaper to purchase than lease. No, would you list these cause I think you are looking somewhere different. Quote Link to comment Share on other sites More sharing options...
bartkat Posted December 20, 2005 Share Posted December 20, 2005 No, would you list these cause I think you are looking somewhere different. http://my.is/forums/showthread.php?t=275588&highlight=lease http://my.is/forums/showthread.php?t=271228&highlight=lease http://my.is/forums/showthread.php?t=274981&highlight=lease Above are some threads on leasing and buying. You just gotta read through and glean what info you can. Quote Link to comment Share on other sites More sharing options...
leonic Posted December 22, 2005 Share Posted December 22, 2005 take your money factor"interest rate for a lease" and multiply it by 24. This will give you a very close approx. for the interest rate. remember that in that payment will include taxes. All of it is not interest Quote Link to comment Share on other sites More sharing options...
bartkat Posted December 23, 2005 Share Posted December 23, 2005 There's some actual lease info in this thread. http://my.is/forums/showthread.php?t=271440 Quote Link to comment Share on other sites More sharing options...
BarrettF77 Posted December 24, 2005 Author Share Posted December 24, 2005 thanks for all the replies guys. I have also been doing some research on the car and purchasing options. Evidently the black on black is very popular here in dallas texas and am in talks with my local dealer on the car and what I am wanting to purchase. Fully loaded they are telling me it will be about 46,500 for everything on the car plus ttl I assume. Like the post started, I was considering leasing, and with all the talk about monthly payments of about 700 or so a month, I am thinking that it really is not the way to go. As if I put about 5,000 down on the car and then do a 78 month purchase on the car my rate will be about 6% approximately but I have found others as low as 4 1/4 % and am looking into them. At any rate, the dealer is stating that they can match these rates, and what confuses me is why they just don't find the best rate for me. I am seeing online that my payments would be approximately 550 ish in a purchase like this. What do you guys think and also had mentioned about previous owners getting a slight price cut off the cars. Right around 1000 dollars to 1500 for repeat buyers. I had mentioned this and they said they could take an additional .5 percent off the apr of the vehicle. Any thoughts on this? Quote Link to comment Share on other sites More sharing options...
Marty Posted December 27, 2005 Share Posted December 27, 2005 Dallas, eh? OK... since I used to live in the Metroplex and we both like the IS... here's a link to a great web site which should answer all your leasing questions. Check out the free spreadsheet ! Just load it up on your laptop, walk into the dealer and calculate your best deal -- that's what I've been doing. :D http://www.carbuyingtips.com/lease.htm Click on Part 3: Lease Examples at the bottom of the page. Happy Financing. Quote Link to comment Share on other sites More sharing options...
Lexdiamonds Posted December 29, 2005 Share Posted December 29, 2005 I would definitely purchase the car. Those numbers sound high for a lease. At least if you buy the car, you could trade it in in 4 or 5 years and still make money on it because they hold there value so well. You may still owe 10 or 15 thousand, but the car might be valued at 20 or 25. Quote Link to comment Share on other sites More sharing options...
BarrettF77 Posted December 30, 2005 Author Share Posted December 30, 2005 Exactly, I am just trying to find a bank with a low Apr. as toyota finance is being stupid. They are telling me to talk to the dealer. Anyways, any recommendations on Lexus dealers in dallas and a good saleperson to deal with that is more willing to negotiate? Thanks. Quote Link to comment Share on other sites More sharing options...
Vynson Posted February 4, 2006 Share Posted February 4, 2006 Buy vs. Lease. Always buy appreciating commodities. Buy a house. Buy a classic collector car. But with a depreciating commodity, a purchase is not a given. In fact, if you want to keep a late model sedan under your butt, leasing is a smarter option. If you want to pay it off and be without a payment for a few years, fine, buy... but at the rate they're adding bells and whistles, a driver who wishes to keep new wheels is better off leasing. Quote Link to comment Share on other sites More sharing options...
SW03ES Posted February 4, 2006 Share Posted February 4, 2006 78 month financing?!?! If you have to finance a car for 78 months, you need to buy a cheaper car. Quote Link to comment Share on other sites More sharing options...
Vegas Guy Posted February 20, 2006 Share Posted February 20, 2006 just purchased a black/black IS350 with MSRP of 46k. They took 1500 off MSRP to bring it to 44,759 My monthly payment is 789 with 0 down for 36 months, 12,000 miles per year. my credit score is 744. Sound high? Quote Link to comment Share on other sites More sharing options...
LEXIRX330 Posted February 20, 2006 Share Posted February 20, 2006 just purchased a black/black IS350 with MSRP of 46k. They took 1500 off MSRP to bring it to 44,759 My monthly payment is 789 with 0 down for 36 months, 12,000 miles per year. my credit score is 744. Sound high? Did you mean lease? Because if you purchased a $44,000 car for 28,404 (789x36) with no money down I'd say you got a great deal! I personally would rather purchase the car than lease it...unless I was getting a complete write off on my taxes. I write the mileage off and in 3 years I will sell it and get another. It is close to the same as the lease, but when I look at the figures it seems cheaper to buy and then sell or trade in on a new, than to lease. SW03ES Posted Feb 4 2006, 04:13 PM 78 month financing?!?! If you have to finance a car for 78 months, you need to buy a cheaper car. I agree with you Steve. It does not seem to make any sense why you would finance it over that long...What would the car be worth at the end of 6.5 years. I have seen alot of people that are doing it though!!! :whistles: Quote Link to comment Share on other sites More sharing options...
Vegas Guy Posted February 20, 2006 Share Posted February 20, 2006 sorry, yes i meant lease. however the car won't be at the dealership for another day. so i have been sitting up for hours tryiing to decide if i wanna lease, or purchase. I sold my car which was paid off for $12k, so i was going to put this money and an additional 3k down. so 15,000 down. But then again I'm being held back because on a lease, I can hold on to this money. At this point I'm having a hard time deciding which route to take. Quote Link to comment Share on other sites More sharing options...
LEXIRX330 Posted February 20, 2006 Share Posted February 20, 2006 sorry, yes i meant lease. however the car won't be at the dealership for another day. so i have been sitting up for hours tryiing to decide if i wanna lease, or purchase. I sold my car which was paid off for $12k, so i was going to put this money and an additional 3k down. so 15,000 down. But then again I'm being held back because on a lease, I can hold on to this money. At this point I'm having a hard time deciding which route to take. What kind of interest rate are they giving you on a purchase...take a look at this it should help. I would not put money down when doing a lease though...just me! Your not going to get it back it will just make your payments lower. I have heard about a kind of lease where the downpayment is held as a deposit and it would transfer to your next leased car. That may be something worth checking into... http://partners.leadfusion.com/tools/nasafcu/auto03/tool.fcs Good luck! Quote Link to comment Share on other sites More sharing options...
Vegas Guy Posted February 20, 2006 Share Posted February 20, 2006 i have a 744 score. They are offering what they claim to be the best APR of 6.25 through Lexus. They said any score over 730 qualifies you for the best rates. This is if i purchase. On the lease, they said since my credit is good, they could give me 0 down. But in most cases they said they would need a security deposit. Quote Link to comment Share on other sites More sharing options...
caraveli Posted February 26, 2006 Share Posted February 26, 2006 I've seen my friend with credit in the high 600's getting a 39,000 IS for 0 down and 585 monthly for 36 months. (lease) And when I am saying 0 down I mean 0 down. He paid the first month to drive off the lot. Is that good? Quote Link to comment Share on other sites More sharing options...
Aija Posted February 26, 2006 Share Posted February 26, 2006 leasing a IS is probably not a good choice. I forget their exact residual values, but i think its 54%. You are better off Buying. Quote Link to comment Share on other sites More sharing options...
Vegas Guy Posted February 26, 2006 Share Posted February 26, 2006 i agree. i had my friend who is a sales manager at a ford dealership punch in the numbers of my lease contract on the Lexus IS350. With a Adjusted cap cost of 45,600, 0 down, 36 month lease, 12,000 miles /year, they hit me at $789/mo My friend plugged the numbers in his lease profit scan which is supposedly accessible only to people in the business. He said the front gross was about 4k, and they were still trying to make 2k on back gross. they bumped up the buy rate. Like most have experienced on here, Lexus doesn't like to haggle on this vehicle since it is in high demand. I had my friend on a 3 way call with the GM of Lexus in Las Vegas. It was a truly professional car salesman phone call. These two were going at each other in tenacious fashion. It was amusing, I wish I tape recorded it. After all was said and done, the GM refused to budge on the price. We hung up and an interesting twist occurred. The salesman calls me back and lowers the monthly payment $25. From 789 to 764/mo! I still decided to pass. I think I will work out a better deal at a different dealership and instead of lease, go with a purchase Quote Link to comment Share on other sites More sharing options...
SW03ES Posted February 27, 2006 Share Posted February 27, 2006 Your first mistake is negotiating on the lease payment. You'll always come out ahead if you negotiate the price of the vehicle first, THEN get the payment. There are too many places the dealership can hide profit when you negotiate on the lease. Being better off buying is a relative thing. I've never seen a decent lease from Lexus itself, but private lease companies like LeaseCompare.com can have some good deals. If you can write your vehicle off as a business expense, you're definately better off leasing for instance even if the payment is the same. Quote Link to comment Share on other sites More sharing options...
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