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Lexus GS 450h Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi linog. Wow that's a lot of money. Did the dealer mention what this car's selling price is? The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without knowing what this car's selling price is, it is difficult to tell how large a dealer discount, and in turn how good a deal you are getting. Find out what this number is and let us know. I am sure that either myself or another knowledgeable community member will be glad to give you their opinion on it.

    One thing that jumps out at me about this deal is the large down payment that the dealer is asking for. I always advise consumers not to make any sort of capitalized cost reduction when leasing. Those who make one risk losing part or all of it if their vehicle is totaled in an accident or stolen and never recovered. Even though it means that your monthly payment will be a little higher, you will be much better off going with a zero down lease.

    Car_man
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  • Hello CarMan. The date of your post is Feb 26, 2009, is the $6000 dealer cash you mentioned still going on? Nothing was listed when I looked at the incentives on this site. Maybe ended before March?

    I am looking to get a new car, preferably before the CA tax rate goes up on April 1. However, if other programs might kick in that would provide savings that offset the extra ~$550 in tax, I could certainly wait.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey vigorlover. Now that's a model that I haven't thought about in a long time. I had a friend who had an Acura Vigor. Despite the fact that it never really caught on, it was a pretty nice car.

    Yes, Lexus is still providing $6,000 dealer cash on the 2008 GS 450h. It is not providing any dealer cash on the 2009 GS 450h, but it does have a special lease program on it.

    Car_man
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  • Hey Car Man,

    I bought a 1992 Vigor GS the first weekend they were available for sale back in 1991. I had it for 16 years, over 165k miles. It was a great car.

    I ended up buying a 2009 GS450h in March for $56,000 (about $150 over invoice with all the options: Mark Levinson stereo, Nav, XM, run flat tires, Lexus Link, ...). I just beat the CA state sales tax increase by a couple days. I wonder if had I waited, maybe the dealers would have had new incentives that would have more than made up for the 1% tax increase. Oh well, I am happy driving my new GS450h.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Cool story vigorlover. It's always nice to see people who have a passion for particular vehicles. Thanks for letting us know how everything turned out. $150 over dealer invoice is an excellent selling price for an '09 GS 450h. You wouldn't have saved any money by waiting. Buying fast to beat the sales tax increase was the right call.

    Car_man
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  • So far so good with GS450h. I am taking it in for its 1k checkup tomorrow. I have been getting about 25.5mpg on each tank in my combination city/highway driving (where my 1999 A4 2.8 got about just over 21 and my 1998 Jag XK8 cvt got just under 21).
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I'm glad that you're enjoying your GS, vigorlover. Thanks for the update.

    Car_man
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  • dulnevdulnev Posts: 652
    It looks like there is a $2,500 dealer incentive right now on the 2009 GS 450h. Car_man, can you please post the current residual and MF for the 36 month lease with 12K miles? Thank you.
  • Hi dulnev. There was a $2,500 dealer cash incentive on the 2009 GS 450h. Unfortunately, Lexus decided not to extend that dealer cash when it introduced its new September program.

    Lexus Financial Services' September buy rate lease money factor and residual value for a 36 month lease of a 2009 GS 450h with 12,000 miles per year are .00030 and 43%, respectively.

    Having said this, I heard a rumor that Lexus had enhanced its lease program on all models yesterday. I'll look into that. If you'd like, post a reminder for me in this discussion in a day or two and I'll let you know what I have been able to find out.

    Car_man
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  • dulnevdulnev Posts: 652
    Car_man, please let us know if there's any news on this front. Thanks.
  • There is, dulnev. Lexus boosted its residual values on all models by 3% across the board through the end of the year.

    Car_man
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  • dulnevdulnev Posts: 652
    Car_man, I just went ahead and ordered the 2010 GS 450h. I believe I got a very good deal -- $1,000 over invoice. But now I will have to decide whether to buy the car when it comes in or to lease it. Have the lease programs for 2010 GS been released yet? Thank you.
  • I have had my 2009 GS450h since March (purchased for about the same deal you got), 7800 miles on it so far, and it has been great. Computer says overall 26.5mpg, which is a little better than the EPA ratings.
  • Hey dulnev. $1,000 over is a pretty good deal. I have seen the lease program for this car. Lexus Financial Services' October buy rate lease money factor and residual value for a 36 month lease of a 2010 GS 450h with 15,000 miles per year are .00255 and 53%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    Car_man
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  • dulnevdulnev Posts: 652
    Thank you very much for the information, Car_man! This is pretty encouraging. The residual I had on the 2007 GS450h was 52% with 12K miles. Do you happen to know how many percentage points Lexus adds to the residual for going with 12K miles as opposed to 15K?
  • You're very welcome, dulnev. Lexus Financial Services adds 2% to its 15,000 mile per year residual values for leases with only 12,000 miles per year.

    Car_man
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  • Found a 09 with 60 miles; selling for $51k. What can I expect for current money factor and residual? My wife is hesitant, but I think this is "killer" deal, your thoughts?
  • dulnevdulnev Posts: 652
    If it is a new 2009 from a dealer, then the dealer should be able to provide you with at least the residual numbers. I believe 2010 is in low 50s right now, so you should expect the 2009 to be in the low 40s. Meaning it would be a really terrible idea to lease it. If you believe the deal is great, then just buy it. The resale value on the 450h is very good, so you can easily sell it after 2-3 years if you get tired of it.

    You mention the price is $51K, but what are the options? For a 2009 you should not pay more than $1,000-2,000 below invoice right now.
  • I think I found the car; 09 GS 450h, verified 1 owner purchased at local lexus dealer 12/08 and traded in at local BMW dealer. Please give me your thoughts:
    Asking $42,995, 15k miles, Nav., ML, etc..It does have run flat tires (original) and I think I should ask for new tires (non run flat) as part of the deal. It does have spare. It has original warranty, but does anyone know if I can go to the Lexus dealer and purchase a platinum warranty? I drove over 30 miles and it was tight and I was surprised the tires were not actually nosier; Dunop 5000 run flates. Please give me some wisdom, anyone out their???
  • Hi kvaillancourt. This particular discussion is for community members to talk about leasing a new GS 450h. You will probably have better luck getting feedback on how much you should pay for the used GS 450 that you are interested in over in the "Lexus GS 450h Prices Paid and Buying Experience" discussion or the "Real-World Trade-In Values" discussion.

    You also might want to try looking up this car's value over in the Used Vehicle section of Edmunds.com.

    Car_man
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