Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!





2013 and earlier Lexus GS 350 / GS 460 Lease Questions

1568101147

Comments

  • 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
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    No problem, berisky.

    Car_man
    Host
    Prices Paid Forum
  • 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?
  • hausshauss Posts: 169
    It comes out to $740.13 and what I owe at delivery is $1197.36. There's no cap cost reduction but they require a $389 documentation fee (total crap) and they won't budge on it. I've heard from several others around Atlanta that Lexus dealers here will not budge on the doc fee so I'm okay with it I guess. The rest of the initial payment is the tag and title fee.

    I spoke with the other dealer making me an offer last night and he also said I got a great deal. I didn't tell him I had already left a deposit on the car but he told me straight up "get off the phone with me and immediately call your other dealer. That is a great deal and you don't want to lose it.". So, who knows if it's that great or not. It's $1000 over invoice and from what I've seen on here that's pretty common. But at least I can rest easy knowing I did my due diligence and didn't leave better offers out there on the table.
  • newcar28newcar28 Posts: 9
    Hello, I am still looking for to lease a 2007 GS350 and learning a lot from this site. Can you please tell me what to expect as far as the effects of the pricing sine I plan to turn in my current Lexus 330 ES (lease) early. I did a 39 month lease, 48K miles, set to end in June 2007, but I am nearing the 48k miles and plan on turning it in on April 1, in exchange for the new one. Thanks again
  • raj11raj11 Posts: 7
    Just picked up my new 2007 GS 350 Smoky Granite/Black from Newport Lexus. What an awesome car. Here are details
    MSRP - $48,997
    Cap Cost 43,998 (invoice plus $200)
    48 months
    15k per year
    drive off - $1352 (incl $250 cap reduction)
    pmt -$630.41 plus CA tax 7.75% = $679.27

    Even though this car has been my first love, I wasnt planning on going with the Lexus because it had not been leasing well (quotes were well over $720 incl tax on a 36-48 month lease with 15k. And no one was going below invoice plus $1000, even in So Cal which has at least 10 Lexus dealerships. I had set my mind on the Mercedes E350 Sport with P1, which is a nice car, but when it came down to pulling the trigger, I had to go with this car. It has great power and agility. I am coming off a lease on a 2002 Lexus GS300 and this car is no comparison to the 02 model.
    Newport Lexus was awesome and what a beautiful dealership. Bonus is that my work is 1 mile away and I can get a car wash anytime.
  • newcar28newcar28 Posts: 9
    Congratulations! It is such a gorgeous car!. Well I finally went on Fri to the dealer in Tampa and found the prices to be outrageous, compared to what I have read and the figures in LEasecompare.com. I got a quote of SELLING PRICE 48997.00 plus sales tax, registration, etc. = balance due of $52924.66. With 1500 down, the lease payments for 36 mo, 12k lease (which I wanted 15K) is $938.00. LEASECOMPARE.COM can get it for me for:
    Cap Cost of $43,081.00
    36 mos
    15k per year
    drive off $765.00
    pamt: $765.00 mo.
    turn in fee at end $395.00

    I ahve a 2004 lexus 330 due to end in June 2007. At the dealer, they suggested I stay in my lease and perhaps extend it until August when they would clear out the 2007 models.

    I found this ridiculous, particularly since the car is readily available through the leasecompare website at a much lower price -- which they ultimately will get from the same dealer. The dealers response as to their price is that the GS350 are in high demand and so the leases are really high priced. I found this very strange -- particularly when you have an interested customer with great credit, and willing to turn their current car in early.

    I left the dealership and told the lady that I would email her the leasecompare numbers. If they can beat it, great, if not I will go through the website.

    Thanks for the response!!
  • raj11raj11 Posts: 7
    You should be easily able to get below $700 per month with just 1st month and license. ($1100-1200) with 15k. I wouldnt pay more. $965 is outrageous. Lexus mf is .00174
    use this link
    http://forums.roadfly.com/forums/financing/8297460-2.html
    this has all the info on mf and residuals.
    Good luck!
  • khammerkhammer Posts: 3
    Just received a quote on the same car in Atlanta. $705/mo not including tax for 36 months, 36,000 miles and $1,500 drive off costs, which includes a $250 cap cost reduction. The salesman, which sold us our RX330, says this is basically "friends of the family" pricing. I haven't asked him about the details behind the number yet, but I was curious whether anyone thought this was a reasonable deal.
  • Could you pls give a CLEAR Simple explanation: What is residual %; is hi or low better (I just got 56% on a quote); What is "CapTax" (I just got 7.3750%). Thanks for your help
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi hauss. Was the deposit that you made supposed to be refundable? Even if it was, you may have a very difficult time getting the dealer that you made the deposit with to give it back to you. I can't tell you how many times I have seen dealers drag their feet in giving back deposits that were supposedly refundable. If you made the deposit with a credit card, you can always dispute the charge with your credit card company if it comes to that. I personally would not back out of this deal unless the new dealer that you are working with can beat it by a significant amount. You are already getting a good deal on this car and who knows what sort of bait and switch the new dealer will try to pull once they have you sucked in.

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Congratulations on your new car, raj11. You certainly got an excellent deal on it. Thanks for taking the time to share the details with everyone.

    Car_man
    Host
    Prices Paid Forum
  • hausshauss Posts: 169
    Car_man, as it turned out this was the best deal I could get with the car and I went with it. So, I didn't have to worry about the lost deposit. I even had several dealers just tell me straight up buy that car we cannot beat that deal. So, I'm satisfied that I got a great deal now. :-) We love the new car, BTW.
1568101147
This discussion has been closed.