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2013 and earlier Lexus GX 460 Lease Questions

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  • I leased this on New Years Eve

    GX470 Black MSRP: $51,605.00
    Includes:
    Navigation System / Mark Levinson Audio Package
    Backup Camera
    Cargo Net, Cargo Mat, Wheel Locks
    Third Row Seat With Rear Air Conditioner
    Tow Hitch Bracket

    Lexus Financial Services
    12k miles per year
    0 security deposits
    no lease end fees

    43,588.02 Gross Cap Cost
    93.77 Cap Cost Reduction
    43,494.25 Adjusted Cap Cost
    24,770.40 Residual Value
    596.24 Base Monthly Payment
    38.76 Monthly Sales Tax
    635.00 Total Monthly Payment

    The inceptions of $1621.00 were picked up by the dealer so I only have to make 47 payments

    Good Deal?
  • Looks like a great deal....just for clarification was this on an '07 or '08?
    and that the actual selling price is 43,588.02? That's over 8,000 off of sticker. Sounds like a good deal.

    May I ask what dealership?
  • It was an 08 with 9 miles on the odometer.

    I had spent 2 hours at JM Lexus in South Florida but they didn't have the car in Black and their price was much higher. I called Lexus of Palm Beach from the JM showroom and they said they had the car and would work for the sale. They were great to work with.

    It was about 1.5 hours after the dealership had officially closed on New Years Eve and they wanted the sale. When my wife started backing away they offered to pick up the incentives. I signed about 10 seconds later.

    They insisted it was a money loser for them and for once I actually believed the dealer. I highly recommend the dealership.
  • It was actually a little better than $8000.00 off.

    The paperwork was all written up with
    51605.00 MSRP
    - 43588.02 Selling price
    = 8,016.98 off of the MSRP

    But after the paperwork was all complete the dealer kicked in the $1621.00 for incentives.

    My actual cost was 41967.02 for a savings of $9,637.02 off MSRP

    I enjoyed my New Years Eve.
  • slojoslojo Posts: 6
    Does any one know the January MF and Residual for 12K/26mo on the GX470?
  • Hello slojo. Here's the information that you're looking for. Unfortunately, Lexus is not providing any lease support on the 2008 GX 470 in January. As a result, if you were to lease one through Lexus Financial Services, you would have to use its standard lease program. LFS' current buy rate standard lease money factor is .00255 for consumers who qualify for its Tier 1+ credit tier. Its 36 month, 12,000 mile per year residual value for an '08 GX 470 without the entertainment system is currently 56%.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Here is the Deal I made last night from Crown Lexus:

    MSRP: $52,668
    Neg price: $46,800
    Net Cap $47,400. Bank Fee added
    MF .00255
    15000/year
    48 Months, 45% residual
    Drive off $ $1179

    Payment $675 + tax.

    Black w/gray int: what a nice Vehicle. We replaced our 2001 Sequoia Limited.

    Dan
  • Hi there,

    I am not happy with the Lexus Dealers in MN. Want to buy/lease a 2008 470 and the sales people are slow, no inventory, and not motivated to make a deal---there are 3 or 5 cars in the state now, as they trickle in up here. I travel to Palm Beach quite a bit. If they have inventory and are eager to make a sale, what is the downside to purchasing in FL? (other than the drive home).
  • I don't know about the downside, but I can tell you the upside.

    I leased from Palm Beach Lexus and got an amazing deal (closing time on New Years Eve helped). They had a large inventory and were great to work with. You should also check JM Lexus about 30 miles south. JM is the largest Lexus dealer in the Country and easily leads in sales every month.

    The way it was explained to me is that JM Enterprises basically controls the Port in Jacksonville where the cars come in. They pick what they want and distribute the rest. Their showroom is 30,0000 SF and they have row after row of the GX-470's. When I purchased they didn't have black, but they probably had more than 100 in other colors.
  • Hello Dan,
    What was the money factor on your deal? Did you pay any down?
  • Hello Car_man,

    Do you know if the money factory (.00255) and the residual value (58%) negotiable? or they are fixed?
  • MF was .00255

    Nothing down, just the drive-off of $1179

    I think I got a good price on the GX, but the MF isn't the best, but that was the deal. I am now looking at a is250 and the MF on those are much better: .00135.

    Dan
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi neelkamal. Vehicles' residual values are set by banks and individual dealers do not have the authority to alter them. On the other hand, while dealers can not lower banks' buy rate lease money factors they are often allowed to mark them up to add additional, hidden profit to deals. That is why it is important to always find out what the buy rate is for the vehicle that you are interested in leasing. Lexus is not currently providing any lease support on the GX 470, however Lexus Financial Services did recently lower its buy rate standard money factor to .00235. Make sure that the dealer you lease from uses this factor to calculate your payment.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Just stopped by a dealer in dallas to work out a deal on the GX470. they said the money factor was .0035 and the payment was 810 a month for 48 months with tier 1 credit. Does that seem high?
  • topgun26topgun26 Posts: 16
    Here is a deal I recieved on a 08 GX470 with nav, dvd, and sat radio
    $743 per month, taxes in payments and no money down, just security bank fee, dmv and 1st month. its for 36 months and 12k miles. Any opinions of this deal? Thanx!
  • louiesmomlouiesmom Posts: 10
    I am going tomorrow to finalize a lease that I have been 'working on' all week.
    Here are the numbers:
    08 GX470
    MSRP: $52589
    Neg Price:$45419

    12k/year 48 months
    Nav, Mark L audio (bluetooth, back up camera etc), towpkg, 3rd seat, mats, spoiler, pref accessory pkg.
    Blizzard Pearl w/ Grey interior

    MF:0.00160
    Residual: 46%
    FICO score is 800

    Due @ signing:
    $599.99 (1st months pymt)
    $12.50 tire disposal
    $700 (cap cost red)
    $60.30 (sales tax on cap cost)
    $795 (Acquisition fee)
    $10 Inspection fee
    $45.00 (dealer fee??)

    total @sign= $2222.87

    (taxes are rolled into lease) payments are $599.99/month

    i really love this truck and I have been negotiating for some time with various dealers. this is the best price I have been able to get.
    this forum has helped me SO much. thank you all for your numbers and comments. i wish i had known about this site when i negotiated my last 2 leases!
  • gomavsgomavs Posts: 1
    louiesmom,

    Was that MF from LFS or an outside lender?
  • louiesmomlouiesmom Posts: 10
    No, Lexus almost never has MF's so low....This one was from Wells Fargo
  • lalawlalaw Posts: 1
    Looking to Lease a 2008 GX 470. Went to one dealer with disappointing results. Looking for a well loaded model with Nav/Audio pack, 3rd row seat, rear spoiler, head rest DVD, XM radio. Got a MSRP of $53K. Dealer discounted $1,500 and included dual DVD headrest at no cost, basically a $3,500 discount. On a 36 month/15,000 mile lease, monthly payments are close to $1,000 per month. It appears that the money factor was 2.95. Residual at 52%. Credit score is not a problem, currently at 796.

    This does not seem right looking at the other postings. I have a current lease on a Volvo that runs out at the end of September. Should I wait till July, August or September or is this dealer full of it.

    HELP, PLEASE
  • louiesmomlouiesmom Posts: 10
    That price does seem kind of high. Was that money factor from Lexus financial? What made the difference for my deal was getting a lower money factor from a different bank. I only picked up the truck last week so, you should be able to negotiate a better money factor. Is this price of $1000/month with 0 due at signing? That does seem very high.
    My Volvo lease was up in July and I just turned it in because I was over on my miles. Are you over on mileage? If not, you may want to wait until July or August. I am sure you will be able to get a great deal if gas keeps going at this rate.
    Good Luck. It's a great truck!
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