Has anyone leased a CT lately in the States?

[shadows01]

Hi all,


This is my first post on this forum. I am doing some researches before I get the CT. I am leaning more on a lease than to purchase it now but I am still debating. I have seen a lease program from Lexus in December that they offer $2000 down with around $350/ month (this is without any packages though.) Earlier in January, I saw that they have raised the price to $3500 down with the same monthly payment.


I just want to get an idea on what people pay. If you did lease a CT, please post. The help is very much appreciated.


Please post:
1. Model with package (MSRP too if possible)
2. Your location (I am in So Cal)
3. Down + monthly payment




EC

[shadows01]

bump~

Anyone?

[Dblugoose]

Hi ec,

I was also like you in that I wasn't sure to lease or not BC I was unsure about the car and pricing. I ended up leasing.

1. 2012 ct fire agate with black nuluxe. Premium model, navigation, premium audio, accessory package.

2. Msrp was around 36500, but I got the price down to around 33200 (about 1k under invoice)
3. 1k down with 500$ monthly payment due to high mileage (18k miles a year cause I drive so much). It should have been 2k down but I got a 1k college grad rebate.
4. I think the key is to say you are purchasing, negotiate the price, and then say you want to lease. In all honesty, I was planning to buy it and in retrospect, I should have. I like the car.
5. I got the car in Torrance.

Good luck ec, I hope it helps.

[bondguy]

I purchased the car...I just got out of a lease on a Buick Enclave where I had a 15K/year mileage lease and went over and had to pay about $1,900 in overage miles. I got an Obsidian Black....got nothing off the sticker price because I purchased back in May of 2011 when there were waiting lists everywhere about 20 deep to get the car. Price was about $36,000 (I also got the 3M Clearbra dealer installed). I got a rate of 2 1/2 percent financing for 60 months...put cash down to get the financing to $30K and my payments are $532/month. The way I looked at it, I knew it's a car I would like to own. I am averaging about 48 MPG (much better than Lexus quotes)....that's actual real world mileage based on each fillip via Fuelly.com
I figure over any larger car or SUV I would have replaced it with, I am saving at least $350-$400 a month on fuel charges...other than a big down payment, the money I am saving driving this car almost covers my monthly payment and based on Lexus history, even in 5 or 6 years, this car will have some value when I decide to sell it to get another car...for me, leasing this car didn't make sense.

[shadows01]

Hi Dblugoose,

Thanks for the post. Is the $500 monthly including tax? I think that's a really great deal. I am not a recent college grad so I won't be able to take advantage of this rebate.

Also, which deal did you buy it from?

I am looking for the premium model without any packages as I may need some of the features but they also come with some extra that I don't need (and those bumped up the price a lot.) I don't really need leather and are currently use Google map from my iPhone primarily so not ready to spend extra 6000-8000 for leather/ navi/ other packages.

I was quoted for $420/ mon plus tax with 800 down. 36 months lease with 10k a year.

[shadows01]

Hi Bondguy,

48 MPG is really amazing. I did't expect it to be that high but I guess the more the better!!!
^_^

[Dblugoose]

Hi shadow,

I think you can go lower. If you don't count the 1k college grad, I would have put down 2k with 500 (including tax) a month lease. but the cost of the vehicle is higher than yours with the options and the lease is with 18k miles per year, not 10k. The dealer offered me a 2012 premium ct with only the accessory package (cargo net, back bumper sticker etc) for around 29700. So you should try to get the price down to that and then say you want to lease. I remember seeing a flier in the office for 350$ lease per month.

[shadows01]

Hi Dblugoose,

I did try to negotiate the price down at another dealership but they said they can't (or unwilling?) to match/ beat the offer I mentioned earlier, which led me to believe that it is close to their bottom-line. That is why I said you got a real good deal. When did you get it? I know that Lexus's December to Remember promo had better deals but too bad I missed it.

[shadows01]

Sorry, few more questions, if you don't mind. :P

1. How do you convert the negotiated price into lease monthly payment and residual value? (as the yearly mileage is not involved when negotiating the price.) Is there a formula to use? Use the $29700 number you mentioned, what would it transform into monthly payment, say with 1k down?

2. Which dealership did you get your car? and the name of your sales? (not sure if this would violate the forum rule for public talking about the names. if it does, please PM me the info.)

Thanks a lot for the help. I really appreciate it!

[lostchild]

Dblugoose got a great price. He got his car at Torrance, posted in another thread. I live in So Cal also and I went to 5 dealerships but I paid invoice which is $1000 more than Dblugoose. I didn't go all the way to Torrance though. I went to Lexus Riverside, Ontario, Longo, Cerrito, and ended up buying it at Westminster. As for leasing, once you got the price of the car, the other things like money factor and residual value don't change. They will just calculate the monthly payments for you.

You can also call up any Lexus dealership and ask them their numbers for Money Factor and Residual Value. Once you got those, you can calculate your payments by using any lease calculator on the web. I think the Money factor for a 36 month/12000 miles/yr lease for the CT is 0.0016 and Residual Value is 62%.