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2013 and earlier Lexus GX 460 Lease Questions

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  • Hey JD. Lexus' "December to Remember" event officially began on November 14th. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 GX 470 with entertainment and navigation and 15,000 miles per year are .00225 and 54%, respectively for consumers who qualify for its Tier 1+ credit tier. This truck's 12,000 mile per year residual value would be 2% higher. The only option that has an impact upon this truck's residual values is the entertainment system. The residual values for units without his system is 1% higher than it is for units that have it.

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  • Hi freedonia. Lexus Financial Services' "December to Remember" buy rate lease money factor for the 2007 GX 470 is .00225 for any length lease for consumers who qualify for its Tier 1+ credit tier. Its residual values vary depending upon how long you lease it for. LFS' current 36 month, 12,000 mile per year residual for a 2007 GX 470 without the entertainment system is 57%.

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  • Hi moose08. Lexus Financial Services' "December to Remember" buy rate lease money factor and residual value for a 36 month lease of a 2007 GX 470 without the entertainment system with 12,000 miles per year are .00225 and 57%, respectively. I provided you with this truck's 12,000 mile per year residual value because I have never seen info for a LFS lease with 10,000 miles per year. It may not lease vehicles with that low a mileage allowance.

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  • I have a lease on an RX330 that ends in early March 2007 (which will be 3500 mi over). What kind of "deal" should I expect if I agree to lease a GX 470 now? I am considering other SUVs but would stay with Lexus if they offer a good incentive.
    I assume I could get the "December to Remember" deal (by 1/2) and take delivery later in January? Is this worth it?
  • First, thanks for the great advice on this board! The research really helped me with my acquisition. $342 over invoice with Dec to Remember rates, tax incentives.

    I just leased a 2007 GX470 $565 a month. Options: NAV,3rd row seat,rear spoiler, tow, preferred package
    Details:
    MSRP $53,894
    Aquisition Cost: $47,352 (includes Regional Mktg/Adv)
    12,000 miles annual
    36 months
    RV 57%
    9 security deposits
    MF .00133
    $0 down (no cap reduction)
    $600 acquisition fee
    Taxes,Title/Registration included
    Monthly Payment $565

    Hope this helps!
  • Wow! That sounds like a great deal. Thanks, I will use this as a benchmark.
    Can you clarify two things? What was the 9 security deposits you mentioned? Also, I assume the $565/month was excluding taxes?
  • With Lexus Financial Services, you can elect to apply up to 9 security deposits. Each security deposit lowers the money factor by $.0001 (from .00225 to .00135 in my case).

    The $565 excludes taxes. My taxes are paid as a part of the December to Remember.
  • Wow, sounds like a great deal. I am currently in the process of trying to lease a GX470 with the same options but am getting quotes of $900 a month so far. May I ask what dealership you leased your Lexus through and what city.

    Thanks and again, great deal!!

    Jason
  • $900 is crazy. I probably will go for a different SUV, but was offered $701/month for 36 months, 15K mi/yr, with $0 down (configured MSRP was about $52K), including 2 pmts on my current car.
  • SO, how much did the 9 security deposits cost you up front or total and what are they or what do they do. I have never heard of that before.

    Jason
  • LFS allows you to put additional security deposits down on a lease up to a maximum of 9. Each security deposit is equal to your monthly lease payment. More info is available on the Lexus website.

    In my case, the 9 add'l security deposits were about $4,500.

    I would highly recommend this approach vs. putting money down upfront. The reason being is that at the end of the lease you get your security deposits back...so at the end of my lease I get my $4500 back...where as with the down payment/cap reduction you lose that money.
  • WOW! $900 seems way too high for a 36 month lease on a GX470.

    I would recommend that you print out my earlier note with the lease detail, take it to your local Lexus dealer, and ask them to match this offer. We live in the Dallas metroplex and both delears were competiting for my business. Do your homework and be prepared to walk out the door.

    Good luck!
  • Jason,

    I rec'd a similar deal to Hoggolfer last January on a fully loaded GX minus KDSS. My payment is 635 total, but I did not pay the security fees or a down payment. My MF at that time was .0012/ vehicle was at invoice whether I bought or leased. Hoggolfer got a stellar deal too, and if you are willing to shop a few hungry dealers, you should be able to do just as well. Bought mine in SoCal.

    Have fun!
  • Wow, I was just quoted $737/mth for a 2007 GX with nav pkg and 12k/yr...$1400 down (fees and taxes).

    So, it looks like I can do much better, huh?

    What do I use as a negotiation tactic? I am so bad at this...
  • guestguest Posts: 774
    Hi, I just least a 2007 gx470 with nav pack for $615/mth including tax, with only first payment down. also did the multiple security deposits. with the deposits it took $77 off the monthly payments. well worth it. hope this helps. msrp was $53500.00
  • Today is the last day for December to Remember...Look at my earlier post on the details of my lease (that has all the info that you and your dealer needs). Take that info into you Lexus dealer and ask them to match. Use this information and be prepared to walk/shop other dealers.
  • Just curious, how much were your security deposits?
  • Security Deposit roughly equals one month payment. (it may be rounded to the nearest $25 increment). So if your payment is $500/month, each security deposit is $500.
  • Hi suviwai. Lexus' "December to Remember" lease program for the 2007 GX 470 wasn't too bad, but unfortunately it is no longer providing lease support on this model in January. If you are looking for a special lease program, this isn't the truck for you.

    Car_man
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  • Congratulations on your new truck, hoggolfer. Thanks for taking the time to share the details of your deal with everyone. Enjoy your new GX :) .

    Car_man
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  • pk13pk13 Posts: 2
    Hi Car_man,

    I recently requested lease quote for 36 Mo. 12K mi/yr and no down in So. Cal. for GX w/ Nav, Third row seat and DVD ent. I rec'd 3 so far: $777+tax, $754+tax and $710+tax. Do you think these are still too high? I own ML320 and I have no rush. What do you suggest? -- wait or go more aggressive?? BTW, what are current MF and LRV?
  • Just took a test drive and love it. I have to see what I want QX56 or the GX470.
    Residual Value
    The QX56 was quote at
    51% 36 months
    31% 48 months

    Does any one know what the residual is on
    The GX470 for 36 and 48 months. also what are the teir levels for Lexus on the credit. I have a 720 Am I on the low end?
  • pk13pk13 Posts: 2
    I'm negotiating a lease on GX470. So far the RV is about 51-55% for 36 months lease. Best quote so far is $617+tax w/ 9 security deposits (many thanks to hoggolfer!!!) - options: nav, 3rd row seat and DVD entertainment. $1088 down (tax+lic+1st payment) + 6K deposits. msrp is $55460.
    Hoggolfer -- do you think it's a fairly ok deal or should I try harder??
  • Carman, et al

    Can you please post the current March resdiual and MF for the GX 470. I am just about to start negotiations toward the end of this month and would like to be armed with current info. I need the rates for both RSE and w/o please.

    Thanks in advance
  • I would like to know the lease terms as well. We're looking for the GX470 adding only the 3rd row, no other options needed. Thanks.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello pk13. You never mentioned the selling price or MSRP of the GX 470 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 truck'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 work give you my opinion of this deal if you let me know what these numbers are.

    Lexus is not currently providing any lease money factor support on the 2007 GX 470. 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 buy rate standard factor varies slightly by region, but it should currently be around .00275 for consumers who qualify for its "Tier 1+" credit tier. Its current 36 month, 12,000 mile per year residual value for an '07 GX 470 without the entertainment system option is 56%.

    Car_man
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  • CarMan,
    I do not understand how to interpret those lease numbers. We are looking to lease an '97 GX 470 with no options other than the 3rd row. We have good credit, so I asssume we'll qualify for Tier 1.
    What exactly should we be asking the dealers and what numbers should we be looking at. We are starting competitive pricing now and want to take the vehicle by the end of the month. ALL HELP IS GREATLY APPRECIATED -- We are very confused!!!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi hbeltran. Your credit score is definitely not low. I believe that Toyota and Lexus Financial Services require lessees to have a score of 730 or higher though to qualify for their "Tier 1+" credit tier. Your score probably qualifiers you for their "Tier I" tier, which usually has factors that are .00010 higher.

    Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 GX470 without the entertainment system and with 15,000 miles per year are .00275 and 54%, respectively for Tier 1+ customers. The numbers for an otherwise identical 48 month lease are .00275 and 44%.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi pk13. You never mentioned the selling price or MSRP of the GX 470 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 truck'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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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello whittler2k1. Unfortunately, Lexus is not providing any lease support on the 2007 GX 470 this month. 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 buy rate standard lease money factor varies slightly by region, but it should currently be around .00275 for consumers who qualify for its Tier 1+ credit tier. This truck's residual values vary by term and 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. LFS' current 36 month, 15,000 mile per year residual value for an '07 GX 470 without the entertainment system is 54%.

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This discussion has been closed.