[DBPA]

I've been reading this forum for awhile now and would like some advice on whether I should wait for the 2002 model or jump on the offer that I was given for a fully loaded 2001 (LSD, heated/power seats, moonroof, leather, spoiler)?? MSRP on the car was for 35,800. I got this reduced to 32,800 with a 54% residual. After taxes, the payments are for $498/month(including taxes) for 39 months with about $1k down (bank fees, tax, title, etc...). Thanks in advance!

 

[E-shift]

Your getting a 2001 with a spoiler?? I think thats not a bad deal, I got a 2001 IS3 2 weeks ago with Leather and moonroof for $420 per month (39 months) and $1800 total out of pocket. Now keep on mind this is without the spoiler or the LSD. If you wait for the 2002 you will be paying a lot more. I think if you want the auto get the 2001, you only lose out on the armrest and curtain airbags. But believe me, if you wait for the 2002 you will be paying at least $50 more per month. Unless your willing to wait till late winter or early spring when the prices will start to come down again.

 

[Todd]

You're going to buy a year old car (model year) for $32,800 and the dealers are buying back the same model year car for $25-$27K. You do the math!

 

[DBPA]

I agree Todd, however I live in an area in which there is only one Lexus dealership within one hour of my house. Therefore, the dealership is at an advantage as the demand far outweighs the supply in my situation. I have only been able to find one IS3 that has all of the options/color combo. that I would like. But, I think I'm going to take my chances and hold off until at least month's end when the dealership will be trying to get rid of any left over 2001's, in order to start selling the new model.

 

[Todd]

Don't wait too long.

 

[merlin3008]

well purchase price isn't the only factor which has an effect on the lease prices. the interest rates and money factors play a huge part as well. in fact oftentimes these items have an inverse effect to what you would imagine. provided that purchase price is a constant, it is generally better to lease a car right when it comes out or soon after. the reason behind this is simple. when you lease a 2002 in august of 2001 for three years, the bank gets that car back in 2004. At that point it is only two model years old with a higher residual value and is more marketable on the resale market. lenders are often more aggressive with early release leases. the problem is that purchase prices are never a constant and the dealer won't let the car go for as low as at the end of the model year. there's gotta be a happy median somewhere.

 

[DJ]

Yeah, that might be true. When I got my car last July, my residual was 65%.

Originally posted by merlin3008:
well purchase price isn't the only factor which has an effect on the lease prices. the interest rates and money factors play a huge part as well. in fact oftentimes these items have an inverse effect to what you would imagine. provided that purchase price is a constant, it is generally better to lease a car right when it comes out or soon after. the reason behind this is simple. when you lease a 2002 in august of 2001 for three years, the bank gets that car back in 2004. At that point it is only two model years old with a higher residual value and is more marketable on the resale market. lenders are often more aggressive with early release leases. the problem is that purchase prices are never a constant and the dealer won't let the car go for as low as at the end of the model year. there's gotta be a happy median somewhere.

 

[smoke_this]

that's not really too much of a deal.
i'd wait b/c i'd want the stick.
but if you're going for an auto anyway...go for it. they're basically the same car except the armrest.