My Next Ride – Part 1

Today I began my test drives. As you saw on my previous post, I have been looking at the following:

2014 Chevy Volt (quoted)
2014 Ford Fusion Titanium
2013 Infiniti G37 Journey Sedan (quoted)
2014 VW Passat TDI
2014 Honda Accord EXL V6
2014 Volvo S60 T5 Premium
2013 Lexus CT200h (quoted)
2013 VW GTI Wolfsburg
2014 VW Golf TDI

UPDATE: Shooting for the Volt. My first American car. Second one I’ve driven since my sister got a Pontiac Grand Prix back in 1992.

After driving the CT200h, I have decided to drop it off my list along with the GTI and the Golf. They are a tad too snug, making it tough to love. It’s not a bad car and it gets great gas mileage, but I am simply not convinced it’s worth $35k.

I will start out with my impression on the G37 and Q50 (yes, I check it out too). The G37 just felt natural to me. I felt so comfortable in it. Love the exhaust note, fit and finish. the console display does look a bit more “aged”, but to be honest, not a bit deal. Love the “rawness” of the G37. It really a well balanced sports sedan. Inventories seem to be VERY high in some dealerships so may not be tough to get what you want. I feel confident  that I can get a Journey for about 1st month + $350s with tax for 36-mo/12k per year.  The Q50 is great, it’s a more refined and roomier G. Quieter, so the “rawness and power” feel isn’t as noticeable. Still a very nice car, but I feel the infotainment console is a bit sluggish. Kind of like how MyTouch was when it was first introduced. In contrast, the Volt’s console is a bit simpler and responsive (more on that later). Overall, the G37 is my “nostagic” choice that could potentially be a keeper in the long run. I’m keeping this car as my “safe choice”.

Now, let’s talk about the Volt, shall we? There’s been a lot of confusing information floating around. I’m not saying it’s wrong. But I think that there are just a lot of assumptions being thrown around and it’s really rough to get a “skinny” on how things are truly done.

First off, the Volt’s numbers for Dec 2013 are: residual value 39% for 36mo/15k per year and MF .00057 via US Bank. Don’t bother with Ally. US Bank rates are better.

Second, $7500 federal credit  is applied to boost the residual value, making your lease more affordable. Whatever that 39% is, boost the residual dollars by $7500 and that’s the new residual value for the lease. I have been quoted 0.00091 as the MF. However, a friend of mine decided to pull the trigger on a Volt today and he got quoted .00057 thru US Bank. I’m thinking his is the base rate and mine is the “padded” one.

Third, state rebates. In the state of California, we get a $1500 rebate on the Volt. This is given via a check, which arrives about 6-8 weeks after you lease the vehicle. As of today, there is about $27 million dollars left in the program or about 48% of the entire pot.

Fourth, Costco Rebate. $500 Costco Cash after you lease a GM vehicle between now and Jan 2nd 2014. You need to have a “code” which you get via the Costco Auto program website. This is only for participating dealers. Check with Costco before you get the car from whichever dealer you are working with. Get the car, do a questionnaire and a rebate will be mailed to you afterwards.

Last, my target goal. I’m looking at a $37k MSRP model, 1st payment due. Approx $340-$350 a month with tax. 36mo/12k a year. Then I would get the $500 from Costco and $1500 state rebate, or an additional $55 per month in savings, making my effective cost around $285-$295 per month after all is said and done. Is this possible? I don’t see why not, my friend’s offer is $1550 at signing, $323 a month for a 36mo/15k lease.

As far as the car itself. I think it’s acceptable. It’s got plenty of torque. It’s smooth and being able to run 40 miles with out gas is great. In terms of interior quality and design, I think that it’s a bit “all over the place”. It’s not very cohesive and the infotainment system is kind of “all over the place” as well. There is such thing as too many options. I am computer guy and I use an Android phone. With that said, I found the Chevy’s computer system a bit too “feature rich”. The good news is that it wasn’t as sluggish as the MyTouch or the Q50s.

Overall, the Volt is really a tough deal to pass up due to the sheer amount of rebates available. It’s tough for me to give up $2000 on the table just like that, so unless something unexpected happens, you all should see some Volt pics on the Wall by month end.

1112_lexus_gs350

2013-14 Lexus Lease Rates – September 2013

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LEASE RATES HAVE BEEN REMOVED. LEASE RATE POSTING HAS BEEN SUSPENDED INDEFINITELY.

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1111_lexus_logo

2013-14 Lexus Lease Rates – August 2013

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1103_lexus_ct200h

2013 Lexus Lease Rates – July 2013

Last month’s lease rates are good through the 18th of July. I have been given noticed that the rates will likely change mid-month. Please plan your negotiations accordingly.

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LEASE RATES HAVE BEEN REMOVED. LEASE RATE POSTING HAS BEEN SUSPENDED INDEFINITELY.

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1306-lexus-lf-lc

2013 Lexus Lease Rates – June 2013

Lexus lease rates have been updated. I received an update today and things have started to look a little better. Hurray for better money factors!

A huge “WTH” goes to LFS for jacking up the MF to .00170 across the board. Yes, there is lease cash available plus Lexus will make your first month payment if you lease one of their vehicles, but still…0.00170 is far from a “great deal” in terms of what you pay out of pocket for borrowing their money. If you end up leasing a Lexus this month, please drop in and share your experience with the rest of the readers.

I know there was this fiasco about the low MF on the CT last month. Please note, I post what I am given. If it’s different that what your local dealer is quoting you, then there are probably two possible explanations: 1) I got the wrong numbers OR 2) your dealer is padding the MF. Please conduct your due diligence when using these numbers. If you read my disclaimer, you will know that these numbers are for “reference only”. I do not sell cars nor cannot provide you with a loan. Therefore, you dealer has final say in all transactions. Thank you for your understanding.

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2013 LEXUS CT200H HYBRID PREMIUM
36 Month – Residual 59% of MSRP – .00095 Base Rate

2013 LEXUS IS250 AT SDN
36 Month – Residual 58% of MSRP – .00145 Base Rate

2013 LEXUS IS250 AWD AT SDN
36 Month – Residual 58% of MSRP – .00145 Base Rate

2013 LEXUS IS250 AT CONV
36 Month – Residual 57% of MSRP – .00170 Base Rate

2013 LEXUS IS350 AWD AT SEDAN
36 Month – Residual 55% of MSRP – .00145 Base Rate

2013 LEXUS IS350 CONV
36 Month – Residual 54% of MSRP – .00170 Base Rate

2013 LEXUS IS-F
36 Month – Residual 53% of MSRP – .00170 Base Rate

2013 LEXUS LS460 AWD
36 Month – Residual 55% of MSRP – .00170 Base Rate

2013 LEXUS ES350
36 Month – Residual 58% of MSRP – .00075 Base Rate

2013 LEXUS GX460
36 Month – Residual 51% of MSRP – .00095 Base Rate

2013 LEXUS GS350 AWD
36 Month – Residual 57% of MSRP – .00095 Base Rate

2013 LEXUS RX350 AWD
36 Month – Residual 56% of MSRP – .00075 Base Rate

2013 LEXUS RX450H AWD
36 Month – Residual 54% of MSRP – .00075 Base Rate

2013 LEXUS LX570
36 Month – Residual 51% of MSRP – .00170 Base Rate

1305-lexus-ls450

2013 Lexus Lease Rates – May 2013

Everything remains the same as April except for the IS250. Its starting to look like Lexus is going to start making room for the 2014 IS real soon. The CT practically being given away interest free right now. Per my calculations, if you can secure the the lowest sale price (per TrueCar estimates) on a $35k CT, you are looking at a payment in the low $300s per month with inception fees due at signing. That’s pretty darn good if you ask me.

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2013 LEXUS CT200H HYBRID PREMIUM
36 Month – Residual 59% of MSRP – .00001 Base Rate

2013 LEXUS IS250 AT SDN
36 Month – Residual 58% of MSRP – .00099 Base Rate

2013 LEXUS IS250 AWD AT SDN
36 Month – Residual 58% of MSRP – .00099 Base Rate

2013 LEXUS IS250 AT CONV
36 Month – Residual 57% of MSRP – .00170 Base Rate

2013 LEXUS IS350 AWD AT SEDAN
36 Month – Residual 55% of MSRP – .00145 Base Rate

2013 LEXUS IS350 CONV
36 Month – Residual 54% of MSRP – .00170 Base Rate

2013 LEXUS IS-F
36 Month – Residual 53% of MSRP – .00170 Base Rate

2013 LEXUS LS460 AWD
36 Month – Residual 55% of MSRP – .00170 Base Rate

2013 LEXUS ES350
36 Month – Residual 58% of MSRP – .00095 Base Rate

2013 LEXUS GX460
36 Month – Residual 51% of MSRP – .00170 Base Rate

2013 LEXUS GS350 AWD
36 Month – Residual 57% of MSRP – .00095 Base Rate

2013 LEXUS RX350 AWD
36 Month – Residual 56% of MSRP – .00075 Base Rate

2013 LEXUS RX450H AWD
36 Month – Residual 54% of MSRP – .00075 Base Rate

2013 LEXUS LX570
36 Month – Residual 51% of MSRP – .00170 Base Rate

1404-lexus-lf-lc

2013 Lexus Lease Rates – April 2013

Lexus changed numbers this month. Residuals dropped for most vehicles, but the interesting thing is how LFS bumped the MFs on their IS line. It doesn’t make any sense because a newly redesign IS is in the horizon so don’t they want to move as many of these units as possible? Anyway, the one notable rate change is on the CT200h. The residual is still high, but the MF got dropped down to the cellar (0.00001). I wonder why? Is the CT just not moving at all? One has to wonder…

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2013 LEXUS CT200H HYBRID PREMIUM
36 Month – Residual 59% of MSRP – .00001 Base Rate

2013 LEXUS IS250 AT SDN
36 Month – Residual 58% of MSRP – .00145 Base Rate

2013 LEXUS IS250 AWD AT SDN
36 Month – Residual 58% of MSRP – .00145 Base Rate

2013 LEXUS IS250 AT CONV
36 Month – Residual 57% of MSRP – .00170 Base Rate

2013 LEXUS IS350 AWD AT SEDAN
36 Month – Residual 55% of MSRP – .00145 Base Rate

2013 LEXUS IS350 CONV
36 Month – Residual 54% of MSRP – .00170 Base Rate

2013 LEXUS IS-F
36 Month – Residual 53% of MSRP – .00170 Base Rate

2013 LEXUS LS460 AWD
36 Month – Residual 55% of MSRP – .00170 Base Rate

2013 LEXUS ES350
36 Month – Residual 58% of MSRP – .00095 Base Rate

2013 LEXUS GX460
36 Month – Residual 51% of MSRP – .00170 Base Rate

2013 LEXUS GS350 AWD
36 Month – Residual 57% of MSRP – .00095 Base Rate

2013 LEXUS RX350 AWD
36 Month – Residual 56% of MSRP – .00075 Base Rate

2013 LEXUS RX450H AWD
36 Month – Residual 54% of MSRP – .00075 Base Rate

2013 LEXUS LX570
36 Month – Residual 51% of MSRP – .00170 Base Rate

1108_lexus_es350

2013 Lexus Lease Rates – March 2013

Lexus number have improved this month. Residuals remain steady and the MFs have dropped. This is a fairly predictable move by LFS. Historically, February is one of the worst months out of the year for leasing. There have been some exceptions, but not for Lexus. Anyway, things look better this month so if you held out for a better deal, now isn’t a bad time.

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2013 LEXUS CT200H HYBRID PREMIUM
36 Month – Residual 59% of MSRP – .00145 Base Rate

2013 LEXUS IS250 AT SDN
36 Month – Residual 59% of MSRP – .00145 Base Rate

2013 LEXUS IS250 AWD AT SDN
36 Month – Residual 59% of MSRP – .00145 Base Rate

2013 LEXUS IS250 AT CONV
36 Month – Residual 60% of MSRP – .00145 Base Rate

2013 LEXUS IS350 AWD AT SEDAN
36 Month – Residual 56% of MSRP – .00145 Base Rate

2013 LEXUS IS350 CONV
36 Month – Residual 57% of MSRP – .00145 Base Rate

2013 LEXUS IS-F
36 Month – Residual 55% of MSRP – .00145 Base Rate

2013 LEXUS LS460 AWD
36 Month – Residual 57% of MSRP – .00145 Base Rate

2013 LEXUS ES350
36 Month – Residual 59% of MSRP – .00120 Base Rate

2013 LEXUS GX460
36 Month – Residual 52% of MSRP – .00145 Base Rate

2013 LEXUS GS350 AWD
36 Month – Residual 59% of MSRP – .00120 Base Rate

2013 LEXUS RX350 AWD
36 Month – Residual 57% of MSRP – .00075 Base Rate

2013 LEXUS RX450H AWD
36 Month – Residual 55% of MSRP – .00075 Base Rate

2013 LEXUS LX570
36 Month – Residual 52% of MSRP – .00145 Base Rate