Lease specialist! Please review! Your input appreciated

[nsxotic911]

Hi guys, I wanted to get your input to review a lease offer. I am looking at leasing a 2015 IS250. A demo vehicle with 250 miles on it. I was looking for discounted 2014s but everyone is out. No, not wanting to buy at this time. Maybe at the end of the lease.

Sales price: 34,000
Capt cose: $2,500
Rent charge: $3,550 (?? This is the money factor??)
Residual: $25k
36 mos / 12k / yr. $350 / mo.

This is in Texas. The rent charge seems high. Thoughts?? Is this a pretty good deal?? I got them to come down $6,000 from msrp which I feel is pretty good.

Thank you!

 

[docjohn]

the rent charge is the total amount you are paying over the sale price to lease.The money factor is like an interest rate built into the lease.your total out of pocket is 37,600.to buy it after lease is over.As an aside the final balloon payment is negotiable to the lein holder.

 

[Ritesh]

I wish I understood leases better. I have car ADHD and want to switch every couple of years. I would love to lease and run it through the business but I feel that I am getting screwed every time I have done it.

 

[nsxotic911]

Yeah, rather than using my down payment towards the purchase price, they are adding it on. So really, I'm paying over MSRP (of 36,500) wich is no longer looking like a good deal! Plus this is a demo too.. and the rent charge is like 10% or something (too lazy to do all the math). Working with them to lower it. And have another dealership too. Fun!

 

[docjohn]

where a lease is a 'good' deal is when the manufacturer offers a low money factor financed through their own lease corp.

 

[nsxotic911]

Thanks docjohn,

So I got an offer from a different dealer. $33,620 sale price, total payments of $11,794. My local dealer, after looking at it AGAIN, squeezed $3,000 in sales tax in a separate clause, so really, ut the door, I'd be payyinng 34,000 + 2,500 + $3,000 = $39,500. That's $5,000 just for a premium at my local dealership. Damn. I love playing one dealership vs another. This is fun.

 

[Bear]

Everything you need to know is here, including links to understanding how leases work.

http://www.edmunds.com/car-leasing/10-steps-to-leasing-a-new-car.html

Crunch numbers
http://www.edmunds.com/car-leasing/calculate-your-own-lease-payment.html

 

[rsm578]

IS250 does lack the power though, I test drove one last year and decided I would rather buy an NSX. IS350 is very good though