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Lexus GS 450h Lease Questions

CarMan@EdmundsCarMan@Edmunds Posts: 38,515
Hi everyone. Please use the following discussion to post any questions that you have about leasing a Lexus GS 450h. Thanks.

Car_man
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Comments

  • bmwconvertbmwconvert Posts: 75
    Car_man, the original 450h forum isn't all that active. Did it really make sense to create two additional groups for leasing and buying? Those two are just a financing choice that are two sides of the same coin, and arguably all of the topics related to this car would make more sense in the same bucket, given the light traffic.
    Just a suggestion.
  • eccentric2eccentric2 Posts: 4
    HI All,

    Got a few questions about leasing this car, as I was called yesterday that my car has come in a cool black gs450h, but when we started to work out the numbers it seemed way too expensive, we discussed multiple security deposits(can these be lost if the car is stolen or totaled?) I was looking at a MSRP of $60,049, no discount since it isn't readily available, but given a $1060 a month on a 36 month, 15k mile lease. (I just leased a cls 500 with sticker of 74k for $1080 a month). What would be a fair price and what should the residual and money rate be. Was excited to get the car but seems very expensive for a $60,000 lease.

    Thanks in advance for any help.

    Eccentric2
  • bushsux1bushsux1 Posts: 6
    Eccentric2,
    I got the same quote. How did you work your deal out?? :confuse:
  • eccentric2eccentric2 Posts: 4
    I havent bought the car yet, its more expensive to be green then it might be worth with this car, I am considering buying for cash though. Otherwise I have another one at another dealer that should be in in about a month and maybe lexus will have a handle on the lease. But I will never buy anything from Countyline Lexus after my experience today! They just didnt care to even explain to me their numbers!! If anyone knows what the money rate and residual should be please post, as I was quoted .0028 and a 53% residual. I think I might get another cls 500 or an audi a6 4.2. So much for trying to be enviromentally friendly :(

    Best of luck.

    David
  • shoesshoes Posts: 131
    I had exactly the same experience- fully loaded GS540h was quoted in the neighborhood of $1400/month for 36 months. You think this is bad, you should ask the Jaguar dealers how much their new XK8's lease for.

    Since most of these high end cars are leased and not purchased and since money does matter, maybe Lexus doesn't have that many GS 450h's to sell and therefore won't offer attractive leases.

    Of course, when Mercedes releases the new engines for the CLS, I suspect their leases won't be so attractive either.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi eccentric2. Multiple security deposits are an excellent way to lower your vehicle's lease payment. They certainly are a whole lot better than making a down payment because you will get them back at the end of your lease and you should be able to get them back if your vehicle is considered a total loss for insurance purposes. If you were to lease a 2006 Lexus GS 450h without any security deposit 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 55%, respectively assuming that you qualify for its "Tier 1+" credit tier.

    Car_man
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  • dulnevdulnev Posts: 652
    I'm about to lease a 450h and I know there is a special lease rate in effect until April 2, 2007. But the Lexus web site only mentions that there is a special offer, without providing any details. The dealer I'm leasing from says the special money factor is 0.00255 (that's for the top tier credit quality - over 730 FICO score), which translates into roughly 6% APR, as opposed to the normal rate of 0.0028, which translates to 6.7%. The 6% rate does not appear to be special at all! Does anyone have any information on the actual offer?
  • Hello dulnev. The special lease money factor that you were quoted for the 2007 GS 450h looks about right to me.

    Car_man
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  • dulnevdulnev Posts: 652
    I actually got a bit more information on another forum, and it turns out that the best money factor available is 0.00245 for borrowers in the top credit tier (over 730 FICO). The difference in the monthly payment from the originally quoted 0.00255 factor (for borrowers in the 690-730 bracket) is only $8 a month.
  • Eccentric the only green thin about the GS is the amount of money one myst pay to drive them. Are they really that green with 300 ponies! ;)
  • Eccentric the only green thing about the GS is the amount of money one must pay to drive them. Are they really that green with 300 ponies! ;)
  • I have made tons of calls to fleet managers, etc. and it seems that the gs450h, leases for a tremendous amount more than commensurate cars in its class. Granted, its the only hybrid in its class, but if you build a 2008 535i and get it to just about the same equipment level of the gs450h, and they have a very similar msrp, the 535i leases for a tremendous amount less. Not to bore you with all the specifics, but on minimum drive off leases, on a 36 month 12k lease the price difference is around 150 dollars more per month for the gs hybrid. I am trying desperately to lease this car but feel its a rip off because Lexus sets its residual value so low. Couple this with the fact that bmw pays for brake pads, etc. and i have a hard time pulling the trigger.
    My questions is what is the secret to leasing this great car at a price more in line with what bmw is leasing its cars at? Or do i just bite the bullet and buy the car?
  • eights38eights38 Posts: 137
    juanbron - Let's see what Lexus and BMW do in February. Just a note, BMWs lease well because they typically have very strong residual values, so the depreciation expense in significantly less. If you need more help, please feel free to email me.
  • I have an '07 with 18k miles that I took delivery of back in May 2006 (one of the 1st delivered). Willingly paid sticker to get it when it came out, so can't complain about the price. What has upset me is that the value has dropped precipitously. I recently asked my Lexus dealer and a Mercedes dealer where I was considering a swap, to get me a quote on the car. Lexus came back with a $38k bid and Mercedes with $43k (higher no doubt because they were going to make money on the sale of the new car to me, and generally a more aggressive dealer).

    The explanation I received from both dealers is that there is NO resale market for this car, therefore few wholesalers are interested in bidding for it. It worries me for a year or two down the road with what it's going to be worth. I also think people are scared about how the batteries are going to hold up.

    I kept the car and remain reasonably happy with it. Nothing I can do about the value now, but it's something that new buyers and leasers should consider. There's obviously a reason why Lexus is putting the residuals so low on the leases. It appears to reflect reality.
  • The Market looks like it may be droping now. I talked to a Leasing Company in Ohio (Thompson and Ward Leasing) I found by searching New GS450h on Autotrader in Columbus. A new 08, MSRP $60,350, Said he would sell it for $55980, AND could get a .00234 mf on the car. I passed because the car was red and I want black, but I think it shows the direction of the Market.
  • socaljdsocaljd Posts: 6
    Hi CarMan,

    What is the current MF & residual on a 36mo/12k term for a '08 450h ?
    Is the MSD program for Lexus still the same (.00008 MF reduction for each SD) ?
    Due to the current economy, do you think a 450h can be had for under invoice (in SoCal area) ??

    TIA - socalJD
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here's the information that you're looking for, socalJD. According to the latest information that I have seen, Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2008 Lexus GS 450h with 12,000 miles per year are .00155 and 47%, respectively.

    It is difficult to say how low the dealers in your area will be willing to go on this car, but I personally doubt that you will be able to get one for under invoice. I personally would shoot for a couple hundred dollars over. Try stopping by the "Lexus GS 450h Prices Paid and Buying Experience" discussion for additional feedback on this car's pricing.

    Car_man
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  • nemianemia Posts: 1
    Anyone know what the current lease rates for the GS450h are, including the mf and residual for the 08 for a 36 mo lease w/12k mi per year?

    Thanks!
  • Hi nemia. Here's the information that you're looking for. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2008 GS 450h with 12,000 miles per year are a terrible .00285 and 41%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    The lease program is bad, but Lexus is providing $6,000 dealer cash on this car right now. Make sure to take it into account when negotiating the selling price.

    Car_man
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  • linoglinog Posts: 1
    I went to the lexus dealer in the san fernando valley in californa and thier giving me a lexus gs 2009 450h for 1050.00 a month- 12k min per year- 36 months and- 6,500 down they said the car is fully loaded total with tax the car costs 71,000.00 the guy said what do you
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