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2013 and earlier Lexus GS 350 / GS 460 Lease Questions

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  • I am in the market for my first LEASE program and wanted to make sure I make all the right moves. The car I Am interested in is the LEXUS GS350 with navigational features.

    Since I know nothing about dealing with scummy salesmen, I wanted to make sure I have all my ducks lines up. My questions to you is how do I know what a good deal vs a poor deal is? What should I look out for? Also regarding how much to put down, do you always have to put 2-5k down on a three year? I am very confused with all this information and was hoping you could shed some light on the situation. I want to be in the 600-800/m category. But I don’t know to figure it all out and what to base things on. Can I talk down the selling MSRP of the car to lower my payments? What is the best way to negotiate a deal so it works in my favor since I am indeed the buyer J Thanks a lot for your help I hope you get this message and can shed some light. I appreciate your assistance. Thanks

    PS below is what I want to get.. What should I expect to pay on something like this ?? THANKS


    Base MSRP*

    $44,150.00

    • Standard Features



    Available Packages

    $4,132.00

    •
    18-in summer tires with spare with Additional Options

    -
    18-in summer tires with spare




    -
    Lexus voice-activated DVD Navigation System with backup camera




    -
    Rain-sensing variable intermittent windshield wipers with mist control, headlamp washers and Adaptive Front Lighting System (AFS)




    -
    Ventilated front seats




    -
    Rear spoiler




    -
    Power rear-window sunshade




    -
    Preferred Accessory Package (includes Cargo net, Trunk mat and Wheel locks)







    Accessory Options

    $0.00

    •
    18-in summer tires with spare[12]

    Included

    •
    Rain-sensing variable intermittent windshield wipers with mist control, headlamp washers and Adaptive Front Lighting System (AFS)

    Included

    •
    Ventilated front seats

    Included

    •
    Rear spoiler

    Included

    •
    Power rear-window sunshade

    Included

    •
    18-in G-Spider alloy wheels[12]

    (see dealer)

    •
    Preferred Accessory Package (includes Cargo net, Trunk mat and Wheel locks)

    Included





    Delivery, Processing & Handling Fee†

    $715.00



    Total MSRP**

    $48,997.
  • mousiemousie Posts: 6
    Can you tell me if this is a good deal....

    2007 GS350 not awd

    Nav, 18" wheels, spoiler, sunshade, rain sensing wipers, ventilated seats, wheel locks, mats

    sticker: 48977 cap cost 45500 residual 19370

    47 month lease $743 + tax. 17K miles per year (yes, I need that many miles). Los Angeles area.

    Is this good?
  • If you are so inclined, you can figure out much of this yourself. Try the Roadfly leasing forum and you'll find the Lexus residuals and mf for Oct. Then go to a good lease calculator (like at leasingguide.com) plug in the numbers and you'll know for yourself. The key numbers you'll need to know are the MSRP for the car you want and the Cap Cost (what the dealer will really "sell" the car to you for. From my experience, dealers often mark up the mf and try to not reduce the cap cost too much. Or, they'll tell you they can't provide those numbers. If they don't, watch your wallet.
  • No problem, djdez. Unfortunately, Lexus is no longer providing lease support on 2006 models. It is however providing $2,000 dealer cash on leftover 2006 GS 300s. If you really want to lease one, you can use this cash to help you negotiate an attractive capitalized cost and then lease one through Lexus Financial using its standard lease program. Its current buy rate lease money factor and residual value for a 24 month lease of a 2006 GS 300 with 12,000 miles per year are .00275 and 53%, respectively.

    Car_man
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    Prices Paid Forum
  • Hey wantabentley. This is probably because BMW and Mercedes-Benz are likely artificially inflating the residual values of the 5-Series and E-Class (they'll deny it until they are blue in the face but they do provide residual value support on certain models), but Lexus does not currently feel the need to provide any artificially inflated residuals on the new GS 350.

    Car_man
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  • Hi ashleaselexus. Since this is the GS discussion, I assume that you mean the GS 350. This car's lease program varies depending upon how long you lease it for and its mileage allowance. For now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 GS 350 with 15,000 miles per year are .00275 and 51%, respectively.

    Car_man
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  • Hi randomact. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment. The short version of what these articles contains is that to get a good deal on a lease you need to negotiate as low a selling price as possible on the vehicle that you want and then have the dealer that you are working with use its buy rate lease money factor to calculate its monthly payment. You may be able to get an idea of what sort of price you should pay for this car by visiting the following discussion: "Lexus GS: Prices Paid & Buying Experiences". Lexus is not currently providing any sort of lease support on the 2007 GS 350. As a result, if you were to lease one through Lexus Financial Services right now, you would have to use its standard lease money factor. Its standard factor varies slightly by region, but it should be around .00275 for consumers who qualify for its top credit tier and pay a security deposit at lease signing. This pretty much sums it up, but let me know if you have any other questions.

    Car_man
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  • Mousie, The car that you described has a spread of around $6,000 between its full MSRP and dealer invoice price. You were quoted a discount of just under $3,500 on it, which isn't bad for a new model. Make sure to stop by the following discussion to see if any other community members have purchased similar cars lately: "Lexus GS: Prices Paid & Buying Experiences". Also, make sure that the dealer that you are working with uses Lexus Financial Services' current buy rate lease money factor to calculate your car's monthly payment. It is currently around .00275 for consumers who qualify for its Tier 1+ credit tier.

    Car_man
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  • Can anyone give me an indication of how good the "December to Remember" sales really are?

    I am close to leasing a GS350AWD but would like the Mark Levinson version. This is about $60 more per month (36 month lease).

    Is it possible that the sale in December lower my lease payment by $60 per month? or is that asking too much?

    If not, I may just move forward and lease a non-ML one right now.

    Thanks for your input,
    Dave
  • I am looking at a 2007 Lexus GS 350 in the Dallas area. I was wondering if anyone knows what the current residual value and money factor are for a 2007 GS 350, 15k miles per year (36, 42 and 48 months). Thank you.
  • Hi Dave. I doubt that anyone, probably not even dealers, knows exactly how good Lexus' "December to Remember" sales event is going to be yet. I can almost guarantee you though that its soon to be announced new lease program for the 2007 GS 350 AWD will be more attractive than its current program for it. If I was in the market for this car, I definitely would not lease one until I found out what the "December to Remember" sales event is like. Lexus is not providing any lease support on this model now, so it's not like you're risking missing out on anything by waiting.

    Car_man
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  • Hi craigf14. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 Lexus GS 350 2WD with 15,000 miles per year are .00275 and 51%, respectively. The numbers for an otherwise identical 39 month lease are .00275 and 48%. The numbers for an otherwise identical 48 month lease are .00275 and 42%. As I mentioned in my previous post, if I was in the market for a GS right now I definitely would wait until later this month to get one. Lexus will probably introduce its "December to Remember" sales event then.

    Car_man
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    Prices Paid Forum
  • Car Man,
    I have been told by 2 dealers that the "December to Remember" has begun. Can you confirm this?
  • Hey Car man do you know if Lexus Financial Services offers any 24 or 27month leases. If they do can you tell me the residual and money factor for 12k a year.
  • I have been driving a 2006 BMW 530i for the past 18 months and am tired to taking it back to the dealer for repairs. I am thinking about the GS 350.

    Would appreciate any feedback.

    I live in Oklahoma City .....anyone have any experience buying in OKC and what I can expect to pay over invoice?

    How is their service department?

    Thanks
  • cwa318cwa318 Posts: 51
    Does anyone have the residual values and money factor for a new 2006 GS 430? Thanks
  • Car Man,
    was offered 1 Dec, gs350, rwd, 36 mo, 15k / yr, 51% resid with .00325 factor, in Houston. factor seems high for tier 1 credit - no security dep. can you advise Dec lease details for 36mo / 15K from LFS ?
  • Hi,

    Please advise latest money factor and res. % for a GS 350 w/ AWD for a 12,000 mile lease 36 months. Unless there is a sweet spot anywhere up to 48 months.

    Thanks

    According to Roadfly.com Dec. #'s for 12000 miles 36 months is 56% res. and .00201 MF. Does that concur with your #'s.

    Thanks
  • Yes, davieravie, the "December to Remember" sales event officially began on November 14th.

    Car_man
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  • Yes, kunalb, Lexus Financial Services does offer 24 month leases of vehicles. I haven't seen any info on 27 month leases through LFS through. If you were to lease a 2007 Lexus GS 350 2WD through it right now for 24 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00225 and 59%, respectively for consumers who qualify for its Tier 1+ credit tier.

    Car_man
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  • Hi cwa318. this car's lease program varies depending upon how long you lease it for and its mileage allowance. For now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Lexus is no longer providing lease money factor support on 2006 models, but it does have $2,000 closeout dealer cash on the 2006 GS 430 right now. Make sure to take this cash into account when negotiating your car's capitalized cost. If you want to lease this car through Lexus Financial Services' right now, you will have to use its standard lease program. I believe that its buy rate standard money factor varies a little by region, but it should currently be around .00275 for consumers who qualify for its Tier 1+ credit tier. This car's 36 month, 15,000 mile per year residual value is currently 44%.

    Car_man
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  • Hi dano16. Is this for a 2007 model? The money factor that you were quoted is a little on the high side. According to the latest information that I have seen, Lexus Financial Services' current buy rate lease money factor for the 2007 GS 350 2WD is only .00225 for consumers who qualify for its Tier 1+. As you can see, this is a lit lower than the factor that you were quoted. It wouldn't hurt to shop around with another dealer or two to see what sort of money factor they quote you for this model.

    Car_man
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  • Here's the information that you're looking for, allagaroo. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 GS 350 AWD with 12,000 miles per year are .00225 and 54%, respectively for consumers who qualify for its Tier 1+ credit tier. This car's money factor is the same for 39 and 48 month leases.

    Car_man
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  • Thanks car_man. Because the MF stays the same for 48 month leases and the residual drops to 45% it is the only LPS that has a very attractive 48 month lease. I don't know what the res. is for 39 months. If you are not tier 1 they are quoting .00235 MF. I like the car except for a hump on the inside of the center console that was rubbing against my leg????????

    J
  • jdl300jdl300 Posts: 11
    Our dealer added something called "First Payment Capitalized" to the gross cap cost

    We already paid the first payment when picking the car up and I wasn't there the other day when my partner went there so I am not really clear what that is

    'Cause to me it sounds like we paid the first payment with credit card and are paying it again in the gross cap cost

    Thanks
  • kyfdxkyfdx Posts: 31,194
    Look for another line that has "Net Cap Cost". That should reflect any payments that you made upfront (including the 1st payment).

    If it doesn't, then you might have a problem. It seems they go out of their way to make leasing paperwork confusing.

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • jdl300jdl300 Posts: 11
    Hm
    net cap cost is from including the trade-in value, first down payment seems to not have been added

    Is the total amount due at lease signing supposed to be added to capitalised cost reduction? or just the trade in?

    What I have is:
    Amount due at lease signing: $3978.17 ($3300 trade-in + 678.17 cash first payment)

    Gross Capitalized Cost:
    $40,962.50 the agreed upon value (dealer fee+wear and tear waiver included)
    +$678.17 first payment capitalized as per what the sales manager said
    +$216.83 of something, he says sales tax, not clear on what
    -----------------------------------
    $41,857.50 gross cap cost total
    -$3300 trade-in adjusted cap cost
    -----------------------------------
    $38557.50 - Net cap cost (adjusted cap cost is what they call it)

    In the end they said
    $607.67 + 66.50 title + $3.99 sales tax = 678.17 cash at the dealer before taking the car ($626 actually before we re-did the lease due to false internet price they quoted us)

    Advice to anyone out there about to buy:
    Check the itemization box in the Gross Cap Cost so you can see how they arrive at the total price, because things can get slipped in there

    AND

    make sure you are getting any specials and so on so you won't have to go back like us and point out we didn't get what they told us we got

    thanks kyfdx
  • Carman:

    Money factor and Residual for GS430 right now?

    Thanks.
  • Happy New Year Carman,

    Any money factors and residuals for a 36 month 15K miles lease for the hybrid GS that LFS is offering?
  • drasdras Posts: 8
    Can someone tell me if they think this sounds like a reasonably good deal:

    GS 350 AWD
    Mark Levinson Pacakage
    Ventilated Seats
    Rear Spoiler
    $3,500 down (all cap reduction)
    $600 per month (pre-tax)
    36 month
    15,000 mile/year leaes

    I can't remember the money factor, but residual was 53%. Any thoughts?
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