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2013 and earlier Lexus GX 460 Lease Questions

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  • This is the first time I am considering leasing and any information/advice would be appreciated. I received the following quote and it seems like a decent deal:
    GX470 with MSRP: $53,536
    Includes:
    Navigation System / Mark Levinson Audio Package Includes:
    Backup Camera
    Cargo Net, Cargo Mat, Wheel Locks
    Exhaust Tip
    Rear Spoiler
    Third Row Seat With Rear Air Conditioner
    Tow Hitch Bracket

    Sale price $45,688
    Residual $29,444.
    MF .00275
    $1500 Total Drive Offs
    36 @ $735. Incl Tax.

    I asked for a quote based on 3 years/12,000 miles per year so I believe this is for 36,000 miles. I am trying to confirm this with the dealer. Will the December to Remember deals be better? Any chance I can negotiate a better money factor now and not wait until the end of November? I believe the money factor will go down to .00225 at that point in time.
    Thanks for any responses!
  • seems like a great deal. grab it.
  • Hi berisky. The truck that you described has a whopping spread of over $6,500 between its MSRP and its dealer invoice price. The $5,500 discount that you negotiated on the specific unit that you are interested in is a pretty reasonable price. It is probably equivalent to around $1,000 over invoice. Just make sure that the dealer that you are working with uses Lexus Financial Services' current buy rate lease money factor to calculate your monthly payment and you're all set. LFS' current buy rate for this model should be around .00275 for consumers who qualify for its top credit tier.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Welcome caligirl5. Since you have never leased before, 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 lease money factor that you were quoted good, it's right in line with Lexus Financial Services' current buy rate for this model. You are being given a huge discount on this truck as well. If you like it, I personally don't see any reason not to go for it.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Does anyone know the lease factor and residual that I should expect in the Texas market for GX470 in a 36 month lease with a 15k mile/year allowance?
  • Where did everyone go?
    I am looking for leasing information in Texas as well.
  • Hi Car_man,

    I'm looking for details on the December to Remember Sales Event. Specifically, I'm looking for cash incentives, taxes paid by manufacturer, money factor, and residual for a 36 month / 12,000 mile lease on a 2008 or 2007 GX 470 with navigation, third row seat, a rear seat entertainment system, both preferred accessory options, rear spoiler, and a tow hitch receiver with ball mount. I believe the entertainment package is the only option that changes the residual percentage. Also, I needed to confirm the money factor discount for multiple security deposits. Can you help?

    Thanks.
  • I'm also looking for leasing information for 3 years/ 12K miles per year on the same vehicle but a 2008 model only. So far I've received two quotes one with a .00295 money factor and the other with a .00255 mf. The residual given has been 56%. I doubt either of these dealers are giving the buy rate money factor.

    Car_man, any help is greatly appreciated.
  • 56% residual and a .00255 mf is better than the figures you posted in September, which is encouraging. I agree (hope) that the mf is actually lower during December to Remember. Is the 56% residual based on a GX 470 with or without an rear seat entertainment system?
  • Hi firstnten,

    The figures are for the GX470 with Mark Lev/Nav, third row, preferred accessory pkg plus dual screen RSE added to the headrests. Although the money factor is better than the previous quote I'm finding that the dealers are not taking as much off the MSRP now. Interestingly, I have a quote on a Mercedes GL 450 with the dual screen RSE and the monthly payment is coming out very close to the GX470 payment even though the GL450 cap cost is nearly 10K more than the GX.
  • Thanks caligirl5. Good info, especially since the GL is also on my list.
  • Hi firstnten. Lexus is not currently providing any cash incentives on the 2008 GX 470, but it does have $1,500 dealer cash on the 2007 model. As far as this truck's lease program goes, Lexus Financial Services' December to Remember buy rate lease money factor and residual value for a 36 month lease of a 2008 GX 470 with the entertainment system with 12,000 miles per year are .00255 and 56%, respectively for consumers who qualify for its Tier 1+ credit tier.

    LFS provides a .00010 money factor reduction for every additional security deposit lessees make, up to a maximum of nine.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Hi caligirl5. Lexus Financial Services' new December to Remember buy rate lease money factor and residual value for a 36 month lease of a 2008 GX 470 with the entertainment system and 12,000 miles per year are .00255 and 56%, respectively for consumers who qualify for its top credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Firstnten, check out the 39 month lease for the GL450. Currently MBF is offering a .00180 money factor on the vehicle for the 39 month term.
  • Thanks for the information Car_man!
  • Opps! It's the 33 month term with .00180 MF (not 39 months).
  • You're very welcome, caligirl5.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Thanks. That's a good MF. Mercedes, like Lexus, offers a discount on MF with multiple security deposits, which would really get the MF ridiculously low. You may have already found this Mercedes site, but it list the lease details along with residual values for the deal you mention. Mercedes Lease Deals

    (Sorry for the off topic post everyone, but I wanted to share this info with caligirl5 since she has been very helpful researching the GX and alternatives.)
  • Thanks Car_man. Do you happen to know the MF and residual for the 2007 model?
  • Car_man: Have the following numbers changed now that it is December? Money factor and residual value for a 36 month lease of a 2008 GX 470 with the entertainment system with 12,000 miles per year are .00255 and 56%, respectively for consumers who qualify for its Tier 1+ credit tier.

    Also, please disregard the request for the 2007 information. I could not get the options I wanted on the last remaining ones. Thanks.
This discussion has been closed.