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2013 and earlier Lexus GS 350 / GS 460 Lease Questions

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  • beriskyberisky Posts: 35
    This seems like a VERY good deal to me. Seems like something's missing.

    Is it a 2007?
    If you build it on lexus.com, what is the MSRP?
    Your $3,500 down represents at least $111/mo savings (at 5% a year).
    So if I were going to lease that car in CA with no cap red, it would be about $770/mo...still an excellent deal.
  • drasdras Posts: 8
    I agree, it does sound like something's missing, the MSRP the dealer quoted me was $52,067 which is the same as the lexus website. He hasn't been forthcoming with how he's getting me to the deal he's quoted me, just promising me that he can do it, so I'm afraid when the car comes in he's going to try to re-trade, in which case I'll have to keep negotiating or walk. I should know if they keep their word in about two weeks, when the car comes in.
  • drasdras Posts: 8
    Quick update - I pushed the dealer for all the actual fees, I had a feeling they weren't being straight with me. There's also the $600 acquisition fee (has anyone ever negotiated this out?), $249 processing fee, $71 first year fees (what are those?) and VA sales tax, which must be paid up front. So my costs are considerably higher than I though, and my monthly payment is $624 (48 months, 15K miles). Based on the sales tax the sales price they've quoted me is $50,248.13, which is just $2,000 under MSRP, it doesn't sound like such a good deal anymore (car has Levinson Package), any thoughts? Thanks,
  • beriskyberisky Posts: 35
    It all sounds like a great deal. Driving a loaded Lexus for a little over $600/mo is alot better than most deals.

    Beverly Hills Lexus quick quoted me about $725/mo incl tax for a 36/36 lease on a RWD loaded.
  • No problem, allagaroo.

    Car_man
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  • Hi berisky. This car's lease program varies depending upon the term and mileage allowance that you choose. 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 430 with 15,000 miles per year are .00194 and 49%, respectively for consumers who qualify for its top credit tier. This program may vary slightly by region.

    Car_man
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  • Hi lexusmonkey. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 Lexus GS 450h with 15,000 miles per year are .00245 and 51%, respectively for consumers who qualify for its top credit tier. This program may vary slightly by region.

    Car_man
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  • Hi dras. You never mentioned the selling price or MSRP of the car that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this car's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what these numbers are.

    Car_man
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  • Oh by the way, dras. I just noticed that you are considering making a $3,500 capitalized cost reduction on this car. I personally don't think that this is a good idea. I always advise consumers not to make large down payments on leased vehicles because if their vehicle is totaled in an accident or stolen and never recovered, their down payment will disappear. Consumers can and should lease any vehicle that they are interested in without making any cap cost reduction.

    Car_man
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  • Hey dras. Lexus Financial Services charges a $600 acquisition fee on every vehicle that it leases. Individual dealers do not have the authority to waive this charge. I'm not sure what the "processing fee" that you mentioned is, but it looks like another name for want is commonly called a doc fee. Doc fees really aren't anything more for dealers to pad their profits on deals.

    A base 2007 Lexus GS 350 AWD has a whopping spread of more than $5,500 between its full MSRP and dealer invoice price. A $2,000 discount still leaves a lot of room to play with. I am not personally all that familiar with what the market is like for this model in your area right now, so it is difficult for me to say if you can do better than this but you may be able to get an idea if you can by visiting the following discussion: "Lexus GS: Prices Paid & Buying Experiences".

    Car_man
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  • drasdras Posts: 8
    Car_man, thanks for the feedback. The MSRP for the car, as quoted by the deal is $52,067.00, which matches up with the MSRP on the Lexus Website for the same options. I believe they are waiving the destination charge as part of the deal.
  • drasdras Posts: 8
    Car_man, the market in the DC area seems pretty tight, I've talked to three dealerships, only one had a car in stock with what I wanted, and the other two were waiting for more to come in. Seems like they're not easy to come by. Lindsay Lexus in Alexandria, VA just got the exact car I'm looking for in today, I'm going to look at it tonight and will let people know the deal I finally work out with these guys.
  • Anyone recently leased a GS350 in CA? or a GS430?

    I want to know the best deal for SoCal.

    Thanks.
  • Carman:

    Money factor & Residual on 36 month / 36k miles?

    Thanks.
  • You're welcome, dras. OK, so this car's MSRP is $52,067. What is its selling price? Is the "waiver" of this car's $715 destination charge the only discount that you are receiving? You should be able to negotiate a larger discount than that.

    Car_man
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  • Thanks for the information, dras. If the supply of this car is that tight in your area than you may indeed have trouble negotiating a decent discount on one.

    Car_man
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  • Here's the information that you're looking for, berisky. 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 12,000 miles per year are .00194 and 52%, respectively.

    Car_man
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  • drasdras Posts: 8
    Car_man:
    I ended up getting the car for $3000 below MSRP, got the delivery charge waived. They also screwed up when they quoted me the residual, they had quoted me for 12,000 miles when I had requested 15,000, they ended up giving me the 12,000 mile residual for a 15,000 mile/year lease.
  • Hey dras. A $3,700 discount on this car isn't bad, especially if it is in such short supply as you mentioned. It sounds like you did well. Enjoy your new car :) .

    Car_man
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  • I've seen a factory demo -- 6000 miles on the vehicle, but never registered -- they'll drop about 5000 from MSRP and offer it on the Lexus money factor -- seems quite good. 15K miles, 50% residual and 4 year lease. wouldn't mind seeing the formula for figuring out the lease payments when you know the residual, the price, and the money factor.

    myerslaw
  • Thanks Carman.

    Just leased (36/36) Black/Black 2007 GS350 2WD w/Mark Levinson, Spider Alloy Wheels ($), Sirius after market integrated into Nav, and tint for $840/mo - $1380 drive off.
  • newcar28newcar28 Posts: 9
    I am looking to lease this same car in Tampa, FLorida. what dealership/area are you in? Thanks!
  • beriskyberisky Posts: 35
    Los Angeles, CA
  • Car_man - 52% residual on a 36/15K lease seems low to me. Doesn't Lexus have any faith in their vehicle?
  • newcar28newcar28 Posts: 9
    has anyone used leasecompare.com?? How reliable are the numbers on the site? I found, in comparison to the first quote I got from the LExus Internet Sales rep, that they were much much lower> Should I rely on them for my negotitation> Thanks
  • I used leasecompare.com 4 years ago, when I leased the CLK 320 I have now. It was legitimate - they use banks (in that case it was US Bank), rather than the manufacturer's financing arm. When I went to the Mercedes dealer, I showed them that my bank leasing was better than their Mercedes Benz Credit Company leasing. Funny thing was that the finance manager at the dealer (MB of Escondido) realized that he had access to the same bank, so I let them arrange it and left leasecompare.com in the lurch. Not very nice of me, but it is the auto business after all.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi myerslaw. The problem that I personally have with demos is that dealers never seem to be willing to discount them enough for me to personally justify buying what is essentially a low mileage used vehicle that qualifies for new vehicle incentives over a brand new model. If I was in the market for a Lexus GS, I personally would need a selling price that's well below dealer invoice to justify purchasing a demo that already has $6,000 miles on it and a discount of $5,000 on a car that has such a big margin between its full MSRP and its dealer invoice is not well below invoice.

    Here is a link to the formula that you can use to calculate your car's lease payment: Calculate Your Own Lease Payment.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    No problem, berisky.

    Car_man
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  • hausshauss Posts: 169
    Car_man, I've got a question regarding a deposit to reserve a car for future purchase. I was made an offer last week from a local dealer for a GS350RWD with navi, 18" wheels and summer tires, ventilated seats, rain sensing wipers with the adaptive lighting, a power rear sunshade, XM radio, a rear spoiler, and the preferred accessory package.

    The MSRP is $49,483 and I got the dealer down to a selling price of $44,311. The dealer offered a money factor of 0.00225,a residual value of 52%, and no cap cost reduction or security deposit on a 36 month / 12,000 mile per year lease. They also add the $600 leasing fee to the cap cost and would not budge on requiring a $389 doc fee at signing.

    I felt I could get a little better plus I could avoid those fees. So, I went to work emailing this offer to 15 other dealers within a 250 mile radius. No one was able to match the offer after a few days and several bowed out immediately stating "that's a great deal, we can't beat it, enjoy your new car!".

    So, I accepted the dealer's offer last night and left a $500 deposit to reserve the car for myself and prevent someone else from taking it. The car is currently on a boat and due into port on the 19th.

    Now, I've got another dealer stating he can get me the car at a better deal. I haven't seen his offer yet but I'm curious that if it is a better deal am I tied into the one on it's way to port because I left a deposit?
  • So what was your lease payment came out to?
This discussion has been closed.