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2013 and earlier Lexus IS 250 / IS 350 Lease Questions

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Comments

  • aongaong Posts: 10
    edited May 2013
    Lexus has announced the pricing for the 2014 IS

    http://lexusenthusiast.com/2013/04/29/lexus-usa-announces-2014-lexus-is-pricing/- -

    The MSRP price is about the same as the 2013 IS. It depends on how much incentives or discount you would get from the dealerships.
  • xfsxfs Posts: 6
    Has anyone seen any offers/availability on the 2014 yet or heard about any Memorial Day weekend promotions?

    Thanks
  • straightdopestraightdope Posts: 20
    edited May 2013
    I just leased a 2013 IS250 sedan with Premium Package Value Edition in southern California. Here are in numbers:

    36 months at $335+ tax/month. $0 Drive offs.
    MSRP :36,640
    SALE PRICE 30,900
    Cap Cost: 31,537
    Residual Value: 61% /22,350
    MF: .000145
    10,000 milage allowance annually
    $350 Lexus Lease Disposition Fee

    This deal is way better than the advertised lease special. I urge people to shop around if you are in southern California, especially if you are looking at the IS 250. The new model is coming in July and they are moving these things. There is $2500 Dealer Cash, and probably are some hidden incentives, too. My first payment and DMV costs were credited to me at closing so I paid nothing out of pocket; so my monthly is really lower than $333/month since I only have 35 payments to make. The dealer was about $50 a month less than the next best offers I had from competing Lexus dealers.
  • liiveriliiveri Posts: 4
    edited May 2013
    With the 2014 launching in July, I figured it might be a good time to pick off a 2013. Had a few emails back and forth with 3 dealers, and so far the best offer for an IS250 AWD:

    MSRP: $39,850
    Offered: $34,150
    Discount: $5700

    Looks like the poster above me got $5700 off as well. Anyone getting better offers? I'm buying in NY.
  • kainnyckainnyc Posts: 76
    Typically I would be better to wait until it actually comes out! But the deals isn't bad! But you have the advantage get the car at that price with 15 k miles
  • dinnerdinner Posts: 1
    What's the best way to determine the residual value of an 2013 IS 250? I've been playing with the numbers the dealer gave me & it looks like something close to 61%. Does that make sense?
    Also - I've been reading that the money factor (ie interest rate) should not be higher than your APR. If that's the case, is there room to negotiate the money factor down? Dealer just told me money factor was .00237.
  • kainnyckainnyc Posts: 76
    That can't be true bc the the rent aka mf is bases on how the car is selling! They need to push this model bc it's new model is coming out June! I would wait and not take a mo eh factor less than .000XX, I got a Benz at .00077 for a quote so why get less! Plus Lexus has thee highest residual value! 61% means the car is being lease for 36 mo @ 12k miles a year!
  • ranjohnranjohn Posts: 17
    I know money does play a big factor here and I know the 2014 models are only receiving cosmetic changes (which is very unfortunate, 28 mph on the highway and 0-60 in 7.7 secs seem almost handicapped comparing to the A4, F30, Q50 or C300. But the interior definitely has improved a lot ( i mean look at the nav screen! http://www.lexus.com/models/IS/features/options/ very high resolution!) But all i'm saying is that you want a nice car because it's nice, not because you can get it at a lower price (otherwise you'd be looking at toyota or ford). So imo, the interior quality and the exterior design are worth to be stressed and I would rather pay a slightly higher price for a standard 2014 IS than an outdated 2013 model with options. Just my two cents and I would also like to know the price/incentives for a 2014 lease, I really don't want a 3 series anymore.
  • gd0tgd0t Posts: 4
    I'm in the same exact boat as you. Initially wanted the 320xi but now I'm going full throttle on the MY14 IS 250 AWD. If I don't get the color combo I want I guess I'll have the 320 as my fallback option.
  • albiessalbiess Posts: 1
    Hi straightdope,

    you got a great deal. Can you tell which dealer is aggressively unloading car in southern cal. I would like to pick up one.

    Thansk,
  • km38iakm38ia Posts: 16
    Just test drove the 2014 IS here in So Cal. Smooth ride, nice handling, back seat space got much bigger...... the plain black dash looked kind of cheap. that's my only complain. They're having a Intro Party for the car next week. Will have some numbers then. Can't wait to lease one!!
  • vinayg1vinayg1 Posts: 28
    I am going to look at the 2013 IS250 AWD in central NJ, but dealers here do not have much stock left now, so not sure I will get a great deal. Maybe end up getting a ES350 (problem is my garage is a tad small, and ES is a tight fit).

    What my dealer told me on my last visit is you can get a discount of .00072 in the MF if you put down 9 Security Deposits. This reduces your monthly payment by about $50. Since you get the money back at the end of your lease, that is a great return on your investment (about $1800 over 3 years for $4000). Money saved is money earned. And it is tax free too. I knew BMW did it, but didn't know Lexus did it too. So, if you have $4000 to lock up for 3 years, seems like a great option.

    Any cons?
  • kainnyckainnyc Posts: 76
    I believe that MF is wrong by one zero!
  • brianbbbrianbb Posts: 9
    I Just got the same deal. Originally they offered it to me for 32,800 but I told them my "friend" got this deal and they came back with the same thing 30,890 0 down, .00145 money factor and with taxes and everything the payment came out to be around 380, The dealer I went to was Lexus of Valencia. I'm sure any dealer you go to would match it.
  • bd307bd307 Posts: 2
    edited July 2013
    Looking to lease a 2014 IS250 with F sport package. Anyone has some quotes they received from dealers? What are the numbers I should be expecting?

    Got quotes from 2 dealers which are both in upper $500/month which is not a deal at all.

    I am located in SoCal.
  • mpasha2mpasha2 Posts: 1
    I live in Georgia and I'm currently entertaining the idea of leasing a 14' IS 350 F-Sport. Has anyone inquired on what the numbers look like at the moment?

    The MSRP comes out to about $48,900 but true market value lists it around 47,500.

    I appreciate in advance any input that is provided!
  • aongaong Posts: 10
    I went to test drive the 2014 IS 350 F Sport in SoCal and I got a quote from a dealer. The MSRP is 48342 and his offer is 47842 which is $500 off the MSRP. I might wait for a little bit longer.
  • vinayg1vinayg1 Posts: 28
    What is the current MF & Residual for 2014 IS 250 - 24 and 36 months, 10K miles?
  • mannypol2mannypol2 Posts: 3
    Need advice... JM Lexus in Margate,FL

    Looking to get a 2014 IS250 FSPORT and dealers MRSP is $41,123

    Is that good? What is the residual value?

    What questions should i ask?

    <-- Rookie... any advice helps... thank you all. :) :cry:
  • amsenamsen Posts: 27
    Carman will be the right person to ask Current residual value. We can't say if the MSRP is good. Because MSRP is standard. Negotiate a selling price and then we can provide input as good or bad. Good luck..
  • mannypol2mannypol2 Posts: 3
    UPDATE...
    MSRP 38,871
    Residual value 46% - 17880.66
    60 months
    Tier 2 financial because of my credit. 8%

    They want 1,500 (includes misc fees and 1st payment) and $579 (incl taxes).

    What do you guys think? :cry: :(
  • petermanpeterman Posts: 11
    Sorry, that sounds like an insanely awful lease offer. 60 months?! Those terms are almost usurious and I would think you should be able to finance the car for little more than the numbers you're giving..

    I have an IS350, which was about $10,000 higher in MSRP than the car you're looking at yet I paid less than your monthly number when leasing it for 36 months. Granted, my lease was with tier 1 credit and took place two years ago, and the 2014 will probably not be heavily discounted right now even with the golden opportunity sales event, but with numbers like what you're mentioning, I would recommend walking out, or running from that dealership.
  • isloverislover Posts: 32
    edited July 2013
    I agree

    These numbers are horrible

    I actually live in this area, and visited JM Lexus myself over the 4th of July weekend - despite the fact this dealer claims to be the "#1 Lexus dealer in the world!" I find their sales tactics and dealer behavior to be shady and dishonest

    I didn't buy a car because if you don't have Tier 1 credit - they treat you like a second class citizen. It was all "sunshine ponies & rainbows" until they found out I didn't have perfect credit (which I already told them I didn't! - yet I have financed several vehicles through LFS - should count for something, right? NOPE) I actually had the cash to pay the lease up front - and was looking at the GS so it was over 10k for a 24 month lease - they still treated me like dirt - even though I was paying them up front! My salesman didn't call me back, and the finance didn't either - I had to call them to see where everything was at! Also - they completed my survey FOR ME - as in - WITHOUT my permission. They had sent me an email with a link, when I clicked on it, it said it had already been completed. I even emailed my salesman and the finance guy to ask for my survey - guess what? NO response! The only way they get those high ratings with Lexus is because they aren't submitting the true opinion of the customer or of their sales experience with this dealer! In other words F JM Lexus - look at what you are dealing with

    Anyway -

    Here is a link to their current "specials"

    http://www.jm-lexus.com/lexus/new-car-specials/?masterpage=lexus-dealer

    I was told by the finance guy that it doesn't matter to Lexus whether you do a regular pay lease or a one pay - so even though they only have one pay leases listed - you can negotiate something similar. It is to your advantage NOT to do a one pay lease - as all of your $ is in the car and if something happens (accident/total) you lose EVERYTHING.

    DO NOT ever do a 60 month lease!

    Why would you want to do that? As another poster said, if you are considering this - just finance. In addition to being an extremely long lease, you are extending the lease beyond the warranty for the car - if something should happen to the vehicle after 48000 miles - it's out of your pocket.
    The residual value also seems very low for a car that is around the $40k mark.

    In order to correctly calculate ANY lease - you need the selling price of the car, residual value, and money factor - you can find a lease calculator anywhere online and do it yourself to figure out what you are really getting

    You can go on the regular Lexus website and it lists all the incentives for this area - Southeast.

    Here is the link: http://www.yourlexusdealer.com/Miami_Ft_Lauderdale/index.html

    They list a 2014 IS - 27 month lease for $349/month with $3769 due at signing (which is horrendous). If you add in the $3769 to the $349/month payment - in actuality you are paying $13192 for a car lease for 27 months - which is $488.60 per month.

    This is just one example of an available lease at ANY South Florida Lexus dealer. There are always different lease scenarios available - this is just the one they advertise. If you go to the dealer and tell them what you want (miles per year, $ down, length of lease - they will come back with #s for you - don't let them control the sale - if you are smart and educated - YOU control it)

    The 2014 GS lease is better than the IS lease - and it is 10x the car. The 27 month lease on that is: $449/month with $2600 down. Which is equivalent to paying $14,723 over the 27 month lease, or $545/month

    Both of these deals include complimentary first month's payment - and no security deposit - (the $700 acquisition fee is included in the adjusted capital cost reduction). READ THE FINE PRINT in all lease offers. period.

    Even if you don't have all the cash to put down - you can roll it into the lease - that is what I did with the above examples - all the down payment cash rolled into the lease. It IS possible for you to do $0 down with Tier 2 credit - you just have to say that is what you want - then you aren't paying it upfront - but over the lease period.

    If you have Tier 2 - if they have a good finance guy - which every dealer should (including JM Lexus) he should be able to call a favor into Lexus and ask to bump you up to the next credit tier - it is done all the time.

    I would try Lexus of Palm Beach. It's a smaller dealer and easier to deal with in working something out.

    Sorry for the long post - but I am an experienced Lexus buyer and have bought multiple vehicles and have a lot of knowledge about leasing, Lexus Financial Services, sales tactics, shady dealers, etc...

    Hope this helps & you drive away with a new Lexus - in my opinion - the best car on the market
  • steverstever Viva Las CrucesPosts: 41,312
    A reporter is looking for new car lessees. If you leased a new car in the past few months, and would like to share your story, please email your daytime contact information to pr@edmunds.com.

    Moderator
    Minivan fan. Feel free to message or email me - stever@edmunds.com.

  • mannypol2mannypol2 Posts: 3
    WOW... i can't thank you enough for the post.

    It was extremely informative. :)

    I will update the post with my visit to Palm Beach. ;)
  • kainnyckainnyc Posts: 76
    They list a 2014 IS - 27 month lease for $349/month with $3769 due at signing (which is horrendous). If you add in the $3769 to the $349/month payment - in actuality you are paying $13192 for a car lease for 27 months - which is $488.60 per month.

    this doesnt include tax, or fees which are another few grand plus who drives only 10k miles thats another 50 x 27 mo.
  • isloverislover Posts: 32
    edited July 2013
    true

    taxes do add more to the monthly payment and i would never personally get a 10k per month lease - you will always pay in the end

    was just trying to show this person what the monthly payment would be w the down payment rolled in - in comparison to what the dealer is advertising as the monthly payment

    thanks for additional input
  • jules9971jules9971 Posts: 1
    For information purposes, just thought I'd share the terms I received from Houston dealership this weekend on a new 2014 IS250 RWD F Sport with Navigation. They are selling these models before they even hit the lot, so they aren't offering any discounts off MSRP and are openly charging a high money factor. They really didn't care about giving me a deal because they knew they could lease it to someone else just as quickly.

    MSRP: 42,973
    Trade-in: 3500
    Net Cap Cost: 41,648 (I didn't get exact amount on fees other than base dealer fee, but you can back into it)
    Residual: 66%
    Money Factor: .0023
    Term: 36 months
    Tax: 6.25% tax in Houston
    Total Monthly Payment: 598.60 (with no money down other than trade-in value)

    The lowest I got them was to .00205 on the money factor, which brought the payment down to $581.10. Also asked about tax credits (which may be unique to Texas, not sure), and they said they aren't offering anything because no incentives are being offered on this model right now. I'm probably going to go with the Audi A4 instead, and if I do go with Lexus, I'll have to try another dealership first because I'm not going to accept these terms as is.

    By the way, I don't know how people are getting .000xx money factors because I saw nothing even remotely close to that in the 5 different cars I looked at (Audi, Lexus, Cadillac, Mercedes, Volvo). One dealer said .0010 is the buy rate and can't go below it. SoCal must be very different in that respect...
  • That is NOT a good deal... if you add your payments, it comes to $20,916. I know there is probably tax in there, but if you multiply your net cap cost by (1-.66) you get $14,160. They basically got $6k out of you on this lease. You should be paying approx $400 for this car.
  • kmurkmur Posts: 36
    Hopefully he is at least enjoying the car.

    Out in Los Angeles, the Internet salesmen are knocking $1500 to $2k right off the top of the IS350, without any negotiation required.
This discussion has been closed.