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2013 and earlier Lexus GX 460 Lease Questions

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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%.

    Car_man
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    Prices Paid Forum
  • 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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    Prices Paid Forum
  • 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%.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi smartshopper9. It sounds like you are new to the world of leasing, 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.

    Basically, the two most important numbers to focus on when negotiating a lease are your vehicle's selling price and the money factor that is being used to calculate its monthly payment. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Shop around and negotiate the lowest possible selling price for the GX 470 that you want and then have the dealer that gives you that price calculate its monthly payment using its buy rate lease money factor.

    Car_man
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  • mikem15mikem15 Posts: 2
    Have gotten what I feel is a good offer but would welcome other feedback. I am looking at the '07 GX 470 with the $8,736 package (this includes the navi, 3rd row seat, rear entertainment, tow package, chrome exhaust, lexus link, rear spoiler). The MSRP is is $56,086 and the dealer is offering to sell the me the car at $49,301. The truck is black onyx and I like the color but realize it probably is not the hottest selling color. They are quoting me a MF of .00265 for 15K/year, 36 month lease, 53% residual through Lexus financial. Lease fee up front of $600 with payments of $799 including tax (6.5%). Total due at signing of $1,100.

    By reading this forum, I feel the MF is good but am worried that the residual is low. With the entertainment package, shouldn't it be higher and around 56%? That of course would make a big difference in payments. Any one know of another leasing company or bank offering bettter MF or residual?

    This forum has been a great refrence source, much to the dismay of the dealer!! Thanks for helping the little guy win one!
  • Hi Hoggolfer,
    I am from Arkansas. Could you please give me the dealer and client advisor info in Dallas. It is ok to pm me. Thanks in advance
  • lexie23lexie23 Posts: 1
    Hi Car_man,

    I'm new to this forum, but glad I found you guys! I was offered this quote thru an internet fleet site.
    What do you think? They would order (approx. 6-7 weeks)
    for delivery. Seems there aren't many fully loaded
    in CA.? Keep in mind my FICO is over 700.

    2007 GX 470 Fully Loaded (excluding XM Sattelite)

    $56,717. MSRP

    $49,295. Cap Price
    $25,420. Residual Value (45%)
    .00202 Money Factor
    7.75% Sales Tax

    Base Payment: 654.29
    Total Monthly Payment: 704.99 (includes tax)

    Disposition Fee: 395.
    1 Month Payment: 704.99
    Fees & Ins: $416. (not sure what this is)
    Upfront Tax: $52.44 (not sure what this is)
    Cap Reduction (Cash) $626.57 (not sure what this is)
    Total Out Of Pocket: $1800. (doesn't add up?)

    12,000 Miles
    0.18 Excess Mileage Charge

    Thanks for any and all help! =)
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello mikem15. I'm glad that you have found this forum so helpful. It's amazing how much of a spread there is between this truck's MSRP and its dealer invoice price. The truck that you described probably has around a $7,800 margin between these numbers. You are being quoted a $6,785 discount on it, which is pretty good but you may want to stop by the following discussion to see how much other community members have paid for similar trucks lately before finalizing your deal: george05, "Lexus GX 470: Prices Paid & Buying Experience" #, 5 Sep 2003 4:02 pm.

    Lexus is not currently providing any lease support on the GX 470, so if you were to lease one through Lexus Financial Services right now you would have to use its standard lease program. Fortunately, the money factor that you were quoted is right in line with LFS' current buy rate standard lease money factor, The residual value is what it is. Individual dealers do not have the authority to alter banks' published residuals. Of course, you might be able to get a better residual value by leasing through an independent bank, but I have not heard of any that have a more attractive lease program on this model than Lexus Financial does right now.

    Car_man
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  • ddubzddubz Posts: 1
    i traded my RX 330 in with 9 months left on the lease. They took the car as a wash, so it didnt cost me anything. then:

    MSRP was just under 55k with nav and dealer installed chrome rims.
    Titanium silver with gray int. (pretty common color i think)
    negotiated sale price of 45800 (i think about 1k under invoice?)
    total drive off of $6500 at signing (high i know but included first mo payment, etc...)
    mo payment of 583
    12k mi/year
    48 months

    was this a good deal? i felt like it was at the time and took it on impluse.

    I love the car, but it doesnt have quite the intricate details of the RX. but it is so roomy!
  • vyacha1vyacha1 Posts: 8
    Hello Car_Man! Can you tell me what is the current deals for GX470? I am looking at 36/39/48m 10K or 12K for a GX with ML/3rd row seating.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi ddubz. Impulse buys are usually not a good thing, but a selling price of $1,000 below dealer invoice plus being able to get out of your current lease nine months early is an amazing deal, assuming that the money factor that you were charged is anywhere near this car's buy rate. You paid too much at lease signing though.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello vyacha1. Lexus is not currently providing any lease support that I am aware of on the 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. LFS' buy rate standard money factor may vary slightly by region and credit tier. The last time that I saw it, its buy rate for Tier 1+ customers was .00275. Its residual values for an '07 GX 470 without the entertainment system with 12,000 miles per year are 53% for 36 months, 50% for 39 months, and 43% for 48 months. The residual values for GX models that have the entertainment system are 1% lower.

    Car_man
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  • hunts1hunts1 Posts: 7
    Any idea of current residual value for GX with 18k miles/yr for 36 months? Thnaks.
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