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2013 and earlier Lexus IS 250 / IS 350 Lease Questions

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  • cc12359cc12359 Posts: 31
    IS350, through Lexus
    3 yrs 36k miles
    MSRP $43909
    Cap Cost $40500
    Down :$1292
    Money factor .00195
    Monthly payment $571 + tax $49
    Residual $26500
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi riemu7. the highest mileage allowance that Lexus Financial Services publishes residual values for is 15,000 miles per year. If you need to drive more than this, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until lease-end and have to pay an excess mileage penalty.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings Ernest. I would be happy to answer any questions that you have. Keep in mind though that Lexus' current lease program is only scheduled to run through June 30th. If you lease your new car after that date, its lease program will be different. If you were to lease a 2006 Lexus IS 250 2WD with an MSRP of $33,234 and a selling price of $33,234 through Lexus Financial Services right now for 36 months with 15,000 miles per year, its zero down, pre-tax monthly payment should be around $522. You are correct, paying for your entire lease in advance reduces its money factor by .00100. If you chose to do this, your vehicle's monthly payment would drop to around $470, for a total advance payment of around $16,889 before tax.

    The December to Remember sales event is an excellent time to lease a new Lexus. Over the past several years Lexus has offered very attractive money factors on its vehicles at the end of the year. If I was in the market for a new Lexus now, I certainly would not wait until then to get one. However, if I was considering a Lexus later on this year I probably would.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Don. If you were to lease a 2006 Lexus IS 350 through Lexus financial Services right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00255 and 58%, respectively. The money factor would be the same for a lease with only 12,000 miles per year, but the residual value would increase by 2%. The aforementioned money factor assumes that you qualify for LFS' Tier 1+ credit tier.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello Mario. According to the latest information that I have seen, if you were to lease a 2006 Lexus IS 250 2WD through Lexus Financial Services in most areas right now for 48 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00255 and 48%, respectively. The residual value for a lease with only 12,000 miles per year would be 2% higher. The aforementioned money factor assumes that you qualify for LFS' Tier 1+ credit tier.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi realtorgrl. I am not personally all that familiar with what the market is like for the Lexus IS right now, but you should be able to get a good idea of what sort of selling price you can negotiate for the car that you want by visiting the following discussion: "Lexus IS 250/IS 350: Prices Paid & Buying Experience".

    Let's work up a sample lease payment on the car that you are considering and see what we come up with. According to my calculations, if you were to lease a 2006 Lexus IS 250 AWD with an MSRP of $35,690 and a selling price of $34,500 through Lexus Financial Services right now for 39 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $525. A $3,000 down payment would reduce this car's monthly payment to around $434. However, I normally advise consumers against making large down payments on leases. I do so because if your leased vehicle is totaled or stolen your down payment essentially disappears.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi kgk3. Vehicles' residual values are set in stone and individual dealers do not have the authority to alter them. Vehicles' money factors are a little different. Dealers do not have the authority to lower banks' published buy rate lease money factors for vehicles. However, dealers often have the authority to "mark-up" vehicles' money factors to add additional hidden, back-end profit to deals. If you are going to lease a 2006 Lexus IS 350 through Lexus Financial Services right now, make sure to insist that the dealer uses its current buy rate of .00255 to calculate your car's lease payment. This factor assumes that you qualify for LFS' Tier 1+ credit tier. If you don't your factor will be a little higher.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Congratulations on your new car, riemu7. Thanks for taking the time to share the details of your deal with everyone. Enjoy!

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi p996. Lexus is not currently providing any sort of lease support on the IS 350. As a result, if you were to lease one through Lexus Financial Services right now, you would have to use its standard lease program. Its current buy rate standard lease money factor for consumers who qualify for its Tier 1+ credit tier is .00255. This car's residual values vary depending upon how long you lease it for and how many miles per year you need to be able to drive it. If you provide me with this information, I can tell you what its resid should be right now.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi ben833. The residual value that you were quoted in April is only 1% lower than the one that you were quoted last month. A one percent drop in vehicles' residual values from month to month is fairly common. Unfortunately, banks will not negotiate vehicles' residual values. I am not sure of the exact credit score that is need to qualify for Lexus' Tier 1+ credit tier, but I suspect that it is around 730 or so.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Congrats on your new car, yeungj1. It sounds like you got a good deal. Enjoy!

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Yes, timecurve, your vehicle's residual value is directly related to its mileage allowance. The more miles per year you are allowed to drive, the lower your vehicle's residual value will be. The highest mileage allowance that Lexus Financial Services publishes residual values for is 15,000 miles per year. If you need to drive more than that, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until lease-end and have to pay an excess mileage penalty.

    Most IS models in dealer stock probably come equipped with the premium package, but I suspect that there are a few stripped cars floating around out there.

    You definitely should be able to negotiate some sort of discount on this car. The more competition there is in your area, the better the price you will be able to negotiate. You should be able to get an idea of how much you will have to pay for this car right now by taking a look at the prices that other community members have paid lately in the following discussion: "Lexus IS 250/IS 350: Prices Paid & Buying Experience".

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  • lop868lop868 Posts: 7
    I'm paying 42,300 on a black on black is 350,with nav,adaptive lights,inuitive parking,accessory package as well as sport package...been waiting for about a month cuz apparently it was a special order,anyone else waiting as long as me...i called all the area dealerships and they all told me the same thing,i did like the buying experience although,lexus of englewood was the best service...ask for Harv also wondering wut othern people are paying for about the same options I got with taxes and all...how do people feel about the spoiler?
  • cc12359cc12359 Posts: 31
    What's the tax rate?
    So you've got it 5k under MSRP? if 42300 is after tax.
  • lop868lop868 Posts: 7
    not sure, I am financing about 12,000,i paid 30,000 down...I know taxes are cheap in jersey but bottom line,fromthe reading,I think i got a great deal with great customer service,I never even had to go in,everything done over the phone,just waitin for the call to come pick up the car...
  • timecurvetimecurve Posts: 8
    Test drove IS 250 RWD with MT, and .... got very disappointed with performance. It is nice inside and out, top of the line features and options, but it is sloooowwww.... in comparison with my Acura RSX Type S, which has the same 200 horses on a V4 engine. I expected a lot more from V6. It is really underpowered. Even at hi RPM's it is not responsive. I pushed it to about 5500 rpm and...felt nothing. My RSX really kicks in at about 5.5 - 6K RPM's. If you're looking for a thrill, look elsewhere.
  • from_flfrom_fl Posts: 113
    "V4" engine?!! Wow cool. I don't know anyone is make such engine. Are you sure?

    RSX's HP/WT ratio is 14.1.
    IS250 HP/WT ratio is 16.8.
    IS350 HP/WT ratio is 11.5.

    Try compare car within same HP/WT ratio.
  • timecurvetimecurve Posts: 8
    what do you mean no one makes 4 cylinder engines? I don;t get your sarcasm buddy :(

    Who cares about HP/WT ratio, it does not change the fact that this car is weak and underpowered.
  • from_flfrom_fl Posts: 113
    Who is making "V"4?
    Don't buy it.
  • lop868lop868 Posts: 7
    hi im waitin on my is350 to arrive just curious as to is it easy to hook up with bluetooth, I have a treo 650 with sprint/nextel...also how do people feel about the spoiler,better with or without?cuz I am debating but haven't seen any with & can't find pics either...
  • timecurvetimecurve Posts: 8
    Hooking up Treo 650 is problematic and not smooth at all. The trick is, to follow the instructions in the manual, and connect to the car from your phone. Once connected simply place a call from your phone while on "Connecting" screen on the car display. This completes the connection. This step is NOT mentioned in the manual however.
  • lop868lop868 Posts: 7
    just wondering, I have an ipod nano, how exactly does the is350 hook up to the ipod,is there something i need to buy,usb port,etc?cuz in the pics I seen,it looks like it attaches with a jack(headphone) but I am just wondering and how well it works with the system,does it all load onto the screen or is it more complicated?
  • timecurvetimecurve Posts: 8
    Don't have an iPod so cannot try. You are correct however, the jack inside of the middle storage console looks like standard Audio jack. This jack has Aux written on it. I highly doubt that you'll get to see on the screen the files/folders loaded to your iPod, since the connection between the two is only through Audio.... There is a button on the Stereo called "Aux" that switches to that audio port in the console.
    I tried however playing an mp3 CD-R, and it is nice, you get the whole folder and file structure on the screen, you can move through folders and files etc... it is like a mini Windows Explorer on PC.
  • liverichlyliverichly Posts: 25
    Hi Car_man, you seem to know quite a bit about the IS & Lexus' lease programs. I am in the 92656 area code (So.Cal) and am in the market for an IS350 with sport, nav & ML, $0 down but will pay out of pockets. I had applied with US Bank for a good lease rate (.0024) but was denied due to insufficient auto history & a 694 score, wondering what category that would be me in at Lexus Financial if you know. I'd be looking for a 4 or 5 year lease with 15k miles a year. My taget cap cost is $41k. Do you know what the residual would be and what credit tier I'd be in? Thanks for your time.
  • from_flfrom_fl Posts: 113
    Perhaps, you should lease some thing less expensive....
  • jpstephensjpstephens Posts: 6
    What is the average price on a 15,000 mile lease is250 w/navi for 36 months. The dealership I just got back from quoted me first at 569 with 5000 down...didnt make sense how the car has a 57% residual or something along those lines and can end up being more money then the quote I got on an acura TL with less residual value.

    What is a good price I should be paying for this car, I essentially want >$2000 down and under 500 a month is this possible?
  • liverichlyliverichly Posts: 25
    Does the amount of lease you are trying to qualify for effect your approval chances?
  • osoirieosoirie Posts: 1
    Im trying to figure out if this is a good deal. I've been looking for the best 36 month lease for the past two weeks and this is the best quote I've gotten:
    IS 250 no navigation
    $3,000 down
    20,000 miles
    $486-includes tax
    Should I take it or is there a better deal. I've been told I can get a lower payment.
  • beautiebeautie Posts: 7
    250 AWD with luxury package and nav
    36 mo., 36K mile lease
    $0 down
    $800 drive-off (first month payment and reg fees)
    $549 a month (includes 8.25% sales tax)

    Is it fair? Or too good to be true? In Southern California.
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