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Thread: Shak, I found your new car

  1. #81
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    Quote Originally Posted by Team_Mclaren View Post
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    EXACTLY, all things equal it's a better deal to just walk into a dealer with that kind of cash down than taking over your lease. Not only it's cheaper, it's also brand new. $333 is also selling @ MSRP, you can easily get that down to 250/month with 14k down (say 3k off?) .
    ^ I don't understand how that makes sense? First, my dealer is telling me that they are not doing any discounts on 2020 at all. But regardless of that, with $14K down you're getting the vehicle for $333. But with half of that down, your payments only go up $50. Sure it's a new car, but other than 3-4K km's there's virtually no difference. Plus you get all the extras I am including. Tire protection costs $$. 2 services cost $$. Wheels cost $$. 3M cost $$.

    You walk into the dealer with $7K cash (which is what I am asking) and your payments are going to be well over $500 (just ran the equation without any of the extras I've got and it's $538.52 per month). You misunderstand Aleks, he's saying putting $14K down plus $3K is being offered as an incentive = $17K and THEN the payments come to $333 a month.

    Where as, with only $7K (negotiable) down, you're at $385 without any of the extras even. I fail to see how that is a better deal other than the fact that it's a 2020 version which has absolutely no difference.

    EDIT: So I just ran the build with the actual details on EVERYTHING on a 2019 model that is also available on Lexus.ca. After adding all the options I've got on mine (minus the wheels and 2 included services) for 3 years and 12K km's, $5K incentive offered by dealer, 0% interest that they now apparently have on 2019's AND $7K down, the payments are $575.98 a month. So if someone gets exactly that at $385 a month, that's not a good deal?

    Like damn...people have massive expectations these days.
    Last edited by shakalaka; 05-28-2020 at 06:53 PM.

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    Quote Originally Posted by shakalaka View Post
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    Sure it's a new car, but other than 3-4K km's there's virtually no difference.
    Are we talking to the same guy who needs a new car every 3 months?
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    fact.

  3. #83
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    Attached Images Attached Images
    Last edited by shakalaka; 05-28-2020 at 07:03 PM.

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    I'm always impressed when people trying to sell a car insist that the market must be wrong.

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    I still think that this is a good deal for the right person. People are really not buying anything right now though unless it’s a screaming hot deal hence the $0 offers to take over the lease. I was actually seeing what I could get for my car and jumping on your deal but I don’t think I would get what I want for it at the moment.

    It all comes down to how bad you want to change vehicles, what did ford offer you for a trade in?

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    Quote Originally Posted by redblack View Post
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    ...

    It all comes down to how bad you want to change vehicles, what did ford offer you for a trade in?
    It's a leased Lexus. How could he trade that in?

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    Quote Originally Posted by ThePenIsMightier View Post
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    It's a leased Lexus. How could he trade that in?
    Same way as a financed car.

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    Quote Originally Posted by shakalaka View Post
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    EDIT: So I just ran the build with the actual details on EVERYTHING on a 2019 model that is also available on Lexus.ca. After adding all the options I've got on mine (minus the wheels and 2 included services) for 3 years and 12K km's, $5K incentive offered by dealer, 0% interest that they now apparently have on 2019's AND $7K down, the payments are $575.98 a month. So if someone gets exactly that at $385 a month, that's not a good deal?

    Like damn...people have massive expectations these days.
    It is a decent deal by just looking at numbers. However, for it to be a decent deal, someone would have to keep it for 20 months to get back on par vs simply going to dealer and keeping that 7 grand in their pocket. Say you did 0 down and got $750 per month lease vs your $388 and 7k down. I think that is where the struggle is.

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    Quote Originally Posted by shakalaka View Post
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    Like damn...people have massive expectations these days.
    Time will tell if you are right or not. Good luck with sale.

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    If someone was in the market...they are getting a vehicle for the monthly cost with $7K down that they normally would have to put $17K down for.

    Blows my fucking mind. Anyway, yea the timing of course isn't right with the economy and all. We are getting a little hot on Kijiji side though, still far from what I am asking but we are getting better than no cash offers. Like I said, I am not desperate so I don't give a shit if I have to keep it.

    I haven't gotten a trade-in value from the dealer yet, I know they always fuck you over so that would be my absolute last option. But truly can't be worse than 'I will take over the lease, without any cash down.' lol.

    - - - Updated - - -

    Quote Originally Posted by Aleks View Post
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    It is a decent deal by just looking at numbers. However, for it to be a decent deal, someone would have to keep it for 20 months to get back on par vs simply going to dealer and keeping that 7 grand in their pocket. Say you did 0 down and got $750 per month lease vs your $388 and 7k down. I think that is where the struggle is.
    I hope not everyone has the same issue as me of wanting to switch cars quickly and can keep the car for the entire term. Which if they do, at the end of it, they'd be $10K approx ahead when the vehicle would be worth more than the residual.

    - - - Updated - - -

    Quote Originally Posted by ExtraSlow View Post
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    I'm always impressed when people trying to sell a car insist that the market must be wrong.

    You gotta elaborate bro. Tell me how I am insisting on something that's wrong. It's the freaking MATH! lol

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    Can this be thought of as taking the 7000 he wants, divided by how long is remaining on the lease to see what the "0 down" cost would be? So in reality this is costing someone 612$ ~per month

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    The residual is way better on a 2020.

    Your $17K deposit is only worth $11K on a 2020. Gets the payment to $339 over 36 month at 12,000 KMs.

    $7K on a 2020 gets you to a $450 ish payment. That’s all at MSRP. If you can get $3K off a 2020, suddenly, $7K gets you a newer model year for the same payment.
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    Quote Originally Posted by benyl View Post
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    The residual is way better on a 2020.

    Your $17K deposit is only worth $11K on a 2020. Gets the payment to $339 over 36 month at 12,000 KMs.

    $7K on a 2020 gets you to a $450 ish payment. That’s all at MSRP. If you can get $3K off a 2020, suddenly, $7K gets you a newer model year for the same payment.
    I must be going crazy here...

    $7K on the exact same car with same options being 2020 and WITH $3K incentive added in (so essentially $10K), the payment is showing up $570.44. Not sure where $450 ish is coming from? That includes the 3K off already...and they aren't discounting 2020's anymore, at least based on what the dealer told me.

    With $11K down on 2020, it's showing $453.10 not $339? Also $3K automatically included in.
    Last edited by shakalaka; 05-28-2020 at 09:38 PM.

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    Quote Originally Posted by shakalaka View Post
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    You gotta elaborate bro. Tell me how I am insisting on something that's wrong. It's the freaking MATH! lol
    Ya know I love ya, and I love your cars, but the demographic for people who a) have $7k cash laying around, b) want to sign into a lease c) care at all aboutnthe "extras" and d) want a used Lexus sounds vanishingly small.

    It may be a good deal, but it's a difficult and complicated deal, and frankly beyond the math skills of most people to even evaluate.

    I hope you get a buyer, because I love what you'll buy next, but it's not a slam dunk.

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    Quote Originally Posted by shakalaka View Post
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    I must be going crazy here...

    $7K on the exact same car with same options being 2020 and WITH $3K incentive added in (so essentially $10K), the payment is showing up $570.44. Not sure where $450 ish is coming from? That includes the 3K off already...and they aren't discounting 2020's anymore, at least based on what the dealer told me.
    I think it’s supposed to be like this
    3k incentive
    7k cash down
    3k kickass negotiations skills

    = $450/month

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    I put $11K in the deposit box and get this:

    6B244D35-5E4A-46B3-B886-BE3B10B3DAEF.jpg
    My Tesla referral link: https://ts.la/moon14483

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    Quote Originally Posted by arcticcat522 View Post
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    Can this be thought of as taking the 7000 he wants, divided by how long is remaining on the lease to see what the "0 down" cost would be? So in reality this is costing someone 612$ ~per month
    Let me try this again.

    The payments I've got were ONLY achieved because there was $17K equity in the vehicle. I am willing to let someone have the same payments with $7K only (instead of $17K). So someone would be getting the payments with $7K down, which otherwise they would have to put $17K down on.

    And now with the incentives $14K as Lexus is offering $3K.

    At the end of the term, the vehicle will be in $10K positive equity position which can also be made. So, you enjoy the vehicle for the payments as if you paid $17K for it, by only paying $7K and in the end if it's sold for what the market is showing, i.e., $10K more than the residual value, then your 'downpayment' actually ends up being $3K back to you. Your original $7K is returned to you and you get $3K on top! And you had a vehicle for the entire term at payments that were setup with $17K down.
    Last edited by shakalaka; 05-28-2020 at 10:03 PM.

  18. #98
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    Quote Originally Posted by benyl View Post
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    I put $11K in the deposit box and get this:

    6B244D35-5E4A-46B3-B886-BE3B10B3DAEF.jpg

    Let's compare Apples to Apples. You must not have the 'include taxes, PDI' box checked in and also didn't include the options that the vehicle has: 3M, tire protection....here's where it's at with $11K down.

    - - - Updated - - -

    Quote Originally Posted by ExtraSlow View Post
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    Ya know I love ya, and I love your cars, but the demographic for people who a) have $7k cash laying around, b) want to sign into a lease c) care at all aboutnthe "extras" and d) want a used Lexus sounds vanishingly small.

    It may be a good deal, but it's a difficult and complicated deal, and frankly beyond the math skills of most people to even evaluate.

    I hope you get a buyer, because I love what you'll buy next, but it's not a slam dunk.
    Haha yea that's fair bro. To me it feels like a no brainer but of course everyone has their own thought process. Well it is what it is, we shall see I suppose.
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    I don’t have much to add other than I’m learning quite a bit about leasing here.

    Never leased, always hard cash incentives.

    Hmm. Still don’t think leasing is for me, can’t quite see the benefit.

    Please, carry on
    "The most merciful thing in the world, I think, is the inability of the human mind to correlate all its contents... some day the piecing together of dissociated knowledge will open up such terrifying vistas of reality, and of our frightful position therein, that we shall either go mad from the revelation or flee from the light into the peace and safety of a new Dark Age."

    -H.P. Lovecraft

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    In the end, no one wants to put $7k down on a lease.
    That is the main issue here. I know I wouldn't.

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