New Lexus ES300h F Sport With Takumi Pack

[STE041]

So, opinion needed....

I received a phone call a few weeks ago from a Lexus Dealer offering to swap out my ES for a new one for no deposit or extra payment. Naturally I ignored it with mine being an ES300h F Sport with Takumi pack with apple Car Play and a Dash Cam fitted. I didn’t see the point as mine is a September 2019 registered car which has only just turned 10k miles.

Today I receive an email from the same dealer offering the same offer but with a bit more detail:

Highlights of deal include:

• No deposit from you compared to the £xx you put in last time.
• New lower APR now 3.9%, you are currently paying 5.9%
• Price includes the Tyre and Gap insurance.
• New additions to the F-sport Takumi features including blind sport and bigger nav screen.
• Brand new apple car play and Android auto capability.
• £1 extra per month

if this was you, with the extra gained items being 2019 / 2021 model year changes, the 2% lower APR on the finance and you end up with a new model, what would you do?

Yes it resets the payments I have made since 2019, and I have a choice of colours (currently mine is Graphite Black) and I also have the wife saying do what you need to....

Thoughts??

[Phil xxkr]

12 hours ago, STE041 said:

So, opinion needed....

I received a phone call a few weeks ago from a Lexus Dealer offering to swap out my ES for a new one for no deposit or extra payment. Naturally I ignored it with mine being an ES300h F Sport with Takumi pack with Apple Car Play and a Dash Cam fitted. I didn’t see the point as mine is a September 2019 registered car which has only just turned 10k miles.

Today I receive an email from the same dealer offering the same offer but with a bit more detail:

Highlights of deal include:

• No deposit from you compared to the £xx you put in last time.
• New lower APR now 3.9%, you are currently paying 5.9%
• Price includes the Tyre and Gap insurance.
• New additions to the F-sport Takumi features including blind sport and bigger nav screen.
• Brand new Apple car play and Android auto capability.
• £1 extra per month

if this was you, with the extra gained items being 2019 / 2021 model year changes, the 2% lower APR on the finance and you end up with a new model, what would you do?

Yes it resets the payments I have made since 2019, and I have a choice of colours (currently mine is Graphite Black) and I also have the wife saying do what you need to....

Thoughts??

Intriguing offer Steve, you need a cash flow spreadsheet 😎are you HP or PCP? If the former, you have effectively been renting the vehicle and covering off depreciation. Money is very cheap today providing your Experian rating is there even 3.9% is expensive. What's the offer on a service plan? 

[Shahpor]

This is an interesting situation.

Like Philip says, are you on HP or PCP?  If so, did you plan to pay off any balloon payment at the end and keep the car?

Ultimately, I don't think there would be much in it financially speaking, so I think it comes down to what you want to do.

[Gramate]

I was offered a similar deal last month by my local dealer to entice me out of my 2019 IS300h F Sport with Takumi pack with only 12k on the clock.

I was sceptical at first but the deal kept getting better and better.  When I checked the value of my IS against the payments I make each month it was devaluating faster than I could pay it off.

The move to a new ES300h F Sport with Takumi pack for no extra deposit, lower payments than I was currently paying, and dash cams, Supagard, boot liner, reduced service plan etc, etc.  Too good to say no.

I was planning to purchase the IS next year, but having had the ES for 48 hours, it was an easy decision to let it go.

Having had the ES for a few days, it is a completely different drive to IS and I'm very happy with it.

 

[STE041]

I decided to take the plunge today. My existing 2019 ES is on a PCP, PCP gets cleared to start a new PCP on the new MY21 ES F Sport with Takumi pack. I had planned to by the existing one at the end of the lease however the main reason for change is the APR% dropped, no deposit needed, no drop in annual mileage and no additional monthly fee. Service place also for the next 2 services and my dash cam transferred for no cost also. 
 

All of this came about as I considered putting the private plate on my existing car, plus it needs a wash!

New car is due in at the end of the month, same colour and interior as I already have, with delivery mile only so also zeros the clock on the 10k on mine. I also now won’t want to put the private plate on for a while on a new 21 plate.

Pics to follow when it lands as I will be able to update between the MY19 and 21 not just in terms of changes but also with running costs.

[Phil xxkr]

7 hours ago, STE041 said:

I decided to take the plunge today. My existing 2019 ES is on a PCP, PCP gets cleared to start a new PCP on the new MY21 ES F Sport with Takumi pack. I had planned to by the existing one at the end of the lease however the main reason for change is the APR% dropped, no deposit needed, no drop in annual mileage and no additional monthly fee. Service place also for the next 2 services and my dash cam transferred for no cost also. 
 

All of this came about as I considered putting the private plate on my existing car, plus it needs a wash!

New car is due in at the end of the month, same colour and interior as I already have, with delivery mile only so also zeros the clock on the 10k on mine. I also now won’t want to put the private plate on for a while on a new 21 plate.

Pics to follow when it lands as I will be able to update between the MY19 and 21 not just in terms of changes but also with running costs.

Phenomenal vehicle Steve, I am sure you will get great enjoyment from it. So on a PCP you have/are effectively renting the car. And I would guess your last two years have cost around 10/12k equivalent in round figures to £1 per mile which does not seem so bad for such a chariot. Incidentally has your VED changed? Also be interested to know what the dealer has your old car up for. I personally think more and more of these financially aggressive deals will become available as the post pandemic effects bite such as ending of furlough in September. I have just read about Barclay card reducing its debt exposure, guessing again it won't be the last. 

[STE041]

13 hours ago, Phil xxkr said:

Phenomenal vehicle Steve, I am sure you will get great enjoyment from it. So on a PCP you have/are effectively renting the car. And I would guess your last two years have cost around 10/12k equivalent in round figures to £1 per mile which does not seem so bad for such a chariot. Incidentally has your VED changed? Also be interested to know what the dealer has your old car up for. I personally think more and more of these financially aggressive deals will become available as the post pandemic effects bite such as ending of furlough in September. I have just read about Barclay card reducing its debt exposure, guessing again it won't be the last. 

The plan for the current car was to do the PCP then but the car with the final payment. The current lease excluding 1 service has cost 88p per mile of which I claim back 22p per mile for mileage at work. Take into account the car allowance for work I get and insurance, the cost per mile reduces to 0.09 p per mile so I really cannot complain. This doesn’t include the first VED I paid which, yes, clobbered by HM Gov went up to 450 for a year - this stays for the 1st 6 years of the life of the car. So including the 450 tax disc it still only equates to 12/13p per mile out of pocket. The existing car was PX’d on paper as part of the deal for £28.5k with 10k miles on it so if this was HP I’d be a tad miffed at the depreciation. Given this is essentially a rental unless I buy out the ballon payment at the end of the lease it is relatively cheap motoring.

Currently awaiting finals on finance for signing with a due delivery date at the end of this month. I tend to agree with you on the finance deals at present, once furlough ends and a percentage of people find the are out of work, these deals will get better Q2/3 21 and I reckon they will then flatten out

[e-yes]

Hi Steve,

Just curious. Has the final payment on the new PCP increased by much ?

Cheers,

--E

[STE041]

7 hours ago, e-yes said:

Hi Steve,

Just curious. Has the final payment on the new PCP increased by much ?

Cheers,

--E

I’m awaiting finalized paperwork at the moment, will update further when I have the final figures.

[STE041]

On 4/22/2021 at 7:16 PM, STE041 said:

I’m awaiting finalized paperwork at the moment, will update further when I have the final figures.

So, on the 69 plate the final payment was £15,615, on the new agreement for the 21 plate the final payment is £15,142. Not too much in it, however the monthly payment has also dropped by £20 per month also. Delivery date is currently 4th May 21.

[e-yes]

That's an excellent deal Steve. Well done 👍 

I was thinking maybe the final payment went up by some logic (of finance) and that may need careful deliberations.

Cheers,

--E

[STE041]

Took the plunge....

[e-yes]

14 hours ago, STE041 said:

Took the plunge....

Congratulations 🎉 

I see that you are in Berkshire, did you buy it from Twickenham?

Due to the Covid situation, I had to take the delivery outside so didn't get to see the car in diffused lights. My ES is also Graphite Black and that color changes shades depending on the ambient light.

Cheers,

--E

[STE041]

7 hours ago, e-yes said:

Congratulations 🎉 

I see that you are in Berkshire, did you buy it from Twickenham?

Due to the Covid situation, I had to take the delivery outside so didn't get to see the car in diffused lights. My ES is also Graphite Black and that color changes shades depending on the ambient light.

Cheers,

--E

I bought mine from Lexus Reading - been with them over 3 cars now since 2016 - top service with no issues