Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!





2013 and earlier Lexus ES 350 Lease Questions

patpat Posts: 10,421
edited January 30 in Lexus
Want to lease an ES 350? Ask your questions here.
«13456729

Comments

  • ghstudioghstudio Posts: 960
    What are the Lexus finance MF and residual values on a 24 month/36month/39 month lease on the ES350?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi ghstudio. If you were to lease a 2006 Lexus ES 350 through Lexus Financial Services right now for 24 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00255 and 66%, respectively. The numbers for an otherwise identical 36 month lease should be .00255 and 60%. The numbers for an otherwise identical 39 month lease should be .00255 and 57%. These money factors will vary slightly depending upon what part of the country you are in and they assume that you qualify for LFS' "Tier 1+" credit tier.

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • adrianeadriane Posts: 1
    Hi Car_man,

    I began negotiations on an ES 350 today. I'm a 27 yr old woman and being nervous that I would be taken advantage of by the experienced salesman, I began my search through the dealer's internet sales dept. I emailed the model,trim,and options that I'm interested in. Each quote from the dealer was $1500 below MSRP. According to buyers in other areas, this is good, but I keep thinking of the invoice price, and I just don't want to pay that much. I counter offered with a price of 90% of the MSRP and figured we can take it up from there if needed. I am willing to pay no more than 95% of MSRP. My first question is, do you think this is reasonable of me, or am I wasting my time?

    Second question: I plan to lease the vehicle for 36 or 39 months with 15k miles. Do you know the current money factor and residual values?

    Third question: Once we settle on a price I'll bring up my trade in. I have calculated that I have $3,000 "negative equity". I am not interested in rolling this over to a new loan. I am willing to pay up to $1500 of it, but any suggestions on how to get the dealer to offer more for the trade? Selling it on my own isn't an option, as that's the only vehicle I have and I can't be without one.

    Thanks in advance for your help.
  • I want to lease a 2007 Lexus ES350 UL Package (approx. 43,000.)for 36 months, 15,000 miles per year, good credit? What is a reasonable monthly payment? What is the residual after three years? I was told in another forum not to put any money down. Originally I wanted to put down 5,000. to keep the payment down. What do you think?
  • jpfivejpfive Posts: 37
    I test drove an ES350 and the salesman offered $500 off MSRP. He said that's the internet sales price right now. I was in Jacksonville Florida. I didn't press because it was just for fun.
  • mnokermnoker Posts: 28
    Anyone have the Residual and MF for this month on the ES350?
  • mnokermnoker Posts: 28
    Noo one has the numbers??
  • sgtslatesgtslate Posts: 16
    Here ya go Mnoker. I found these on another leasing website. I think these are current....

    2007 Lexus ES350 4dr Sedan

    24 mo/15k mi – Residual Value 66% of MSRP – .00245 Base Money Factor Rate
    36 mo/15k mi – Residual Value 60% of MSRP – .00245 Base Money Factor Rate
    48 mo/15k mi – Residual Value 50% of MSRP – .00245 Base Money Factor Rate
    60 mo/15k mi – Residual Value 41% of MSRP – .00245 Base Money Factor Rate

    36 mo/12k mi – Residual Value 62% of MSRP – .00245 Base Money Factor Rate
    48 mo/12k mi – Residual Value 52% of MSRP – .00245 Base Money Factor Rate
    60 mo/12k mi – Residual Value 43% of MSRP – .00245 Base Money Factor Rate

    2007 Lexus ES350 4dr Sedan Ultra Luxury

    24 mo/15k mi – Residual Value 66% of MSRP – .00245 Base Money Factor Rate
    36 mo/15k mi – Residual Value 60% of MSRP – .00245 Base Money Factor Rate
    48 mo/15k mi – Residual Value 50% of MSRP – .00245 Base Money Factor Rate
    60 mo/15k mi – Residual Value 41% of MSRP – .00245 Base Money Factor Rate

    36 mo/12k mi – Residual Value 62% of MSRP – .00245 Base Money Factor Rate
    48 mo/12k mi – Residual Value 52% of MSRP – .00245 Base Money Factor Rate
    60 mo/12k mi – Residual Value 43% of MSRP – .00245 Base Money Factor Rate

    Enjoy

    Slate
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi adriane. I am not personally all that familiar with what the market is like for the '07 Lexus ES 350 right now, but if I was in the market for one I personally would shoot for $1,000 over dealer invoice. Make sure to stop by the following discussion to get additional feedback on how much you should pay for this car right now: "Lexus ES 350: Prices Paid & Buying Experience".

    If you were to lease this car 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 60%, respectively. The numbers for an otherwise identical 39 month lease should be .00255 and 57%. This is LFS' standard lease money factor for consumers who qualify for its top credit tier. It varies a little depending upon what part of the country one is in.

    Your trade is worth what it's worth. If you are getting a good deal on your new car, there won't be much room for the dealer that you are working with to over allow on your trade. If you don't feel as though the price that you are being offered for your trade is fair, you can always sell it yourself or sell it to another dealer, like a local CarMax. You should be able to get an idea of your current vehicle's value by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values".

    Car_man
    Host
    Prices Paid Forums
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi cablondeblue. I can't tell you what a reasonable monthly payment for this car is without knowing approximately how much you are paying for it. Let me know and I'll run some numbers for you. As far as its residual value goes, if you were to lease an '07 Lexus ES 350 through Lexus Financial Services right now for 36 months with 15,000 miles per year, its residual value should be 60%. It definitely is not a good idea to make a large down payment when leasing. By doing so, you risk losing your money if your car is totaled in an accident or stolen.

    Car_man
    Host
    Prices Paid Forums
  • mcasomcaso Posts: 3
    Has anyone checked into or used lease- by-tel. They seem to be legit and the quotes they gave me are about 20% lower than dealer prices.
  • forthillforthill Posts: 31
    Today I was just quoted a money factor of .00255 for LFS by a dealer in NY.

    forthill
  • gsensegsense Posts: 1
    Hi Slate,

    I was just wondering where you got these residual values. If you don't mind telling me the website you got them from, I would love to prove to my salesperson that the residual values she's been quoting me have been, as I suspected,low all along.

    Surprise, surprise.

    G
  • forthillforthill Posts: 31
    The dealer I went to said that come July the residuals will all be adjusted downward.

    forthill
  • squigglysquiggly Posts: 1
    My dilemma:
    My cash is tied up in real estate so until I sell should I lease 24 or 36 mo. then pay cash to buy the car at the end of the lease? I keep cars for 5-6 years. 15,000 miles/yr.
    Would I save more by financing 100% of the purchase for 2 yrs then paying it off?
    Lease Term
    Purchase price: $39,000
    Residual 24 mos. $25,740
    Residual 36 mos. $23,400
    Money Factor: .00245
    Security deposit: $9000
  • forthillforthill Posts: 31
    I managed to catch the very tail end of a TV commercial here in NY about the ES350 and some 'attractive leasing deals'. Did anyone see the commercial or know if there is indeed any leasing deals on the ES? *Not sure if it would be a regional thing.

    Thanks,
    forthill
  • I look at this quote as just the winning dealership to get me in the door to begin to negotiate. (LOL) Let me know what you think? How much better can I do?

    36 Months
    15,000 miles
    MSRP: $43,788.00
    Residual Value (60%) $26,272.80
    Dealer Cost (Supposedly): $38,563.00
    Selling Price: $39,763.00
    Total Cap Cost: $40,363.00
    Vehicle Mark-up: $1,200.00
    Buy Rate (Money Factor): .00275 (I have been quoted .00265 elsewhere but not with the same numbers.)
    Payment $574.64 + 8.25% Tax + $622.05

    I know people don't recommend putting money down but maybe just a little would get the payment down even further.

    Also, someone in another forum wrote this: (Let me know your thoughts.)

    "One way to go is if your dealer allows you is to make multiple security deposits at signing. What I'm doing is leasing mine at cost, laying out around $5K at signing. $1,500 is out of pocket that I wont be getting back. The remaining money makes up 8 or 9 security deposits. These will be refunded to me when the lease is up. So basically by investing this extra money I will be lowering my payments by almost $100 per month, resulting in about a 20% return on my deposit. It's a good deal if you can afford to lay out the cash for the term of the lease. My monthly payments will be just above $400/mo."

    I think that is enough Math questions for one day? (Brain overload) :confuse: LOL
  • maximafanmaximafan Posts: 592
    cablondeblue, I'm not sure what that $1200
    mark-up is. Maybe you could negotiate that
    part out? Also, is this with $0 down?
  • I believe the $1200. is money I bring in at leasing signing. I haven't talked to this salesman about it yet. This is just what he faxed me. The salesman at my local dealership said that he would beat any quote I receive, so I just wanted to know if this was a good quote to beat and if I could do any better.

    :)
  • forthillforthill Posts: 31
    I was able to use my HP12C many years ago for lease calculations but for the life of me I cannot quite get it right any more (must be age-related). Anybody using an HP12C that can give me the correct key strokes for doing the calcs? (given msrp, sell price, rv, term, etc)

    *Or point me somewhere where I can view the user guide which I think has lease examples in it.

    Thanks!
    forthill
  • Is this what you are looking for?

    http://www.edmunds.com/advice/leasing/articles/48365/article.html

    It took me a while but I think I have master it. I also put it on a spread sheet so that it calculates the payment for me.
  • newkid300newkid300 Posts: 18
    Car_man I am in NYC and looking to lease an ES350 for 36 months, 15,000 miles. I really don't want to put anything down except security and first month. I know the money factor is .00245 and the residual is 60%.
    On the lexus site the MSRP for the following is $37,690.00 (actually $37,685.00) and the TMV on Edmunds is $37,690.00.
    The package is the Premium package which is
    High intensity headlamps, heated and ventilated front seats, wood and leather trimmer steering wheel and shift know, bluetooth, FS spare, rear seat airbags.
    The website includes a delivery process and handling fee of $695.00 to get to the $37,685.00. Price. What would a good lease deal be? Thank you.
  • Car_Man overlooked my last leasing question I posted over a week ago. Hopefully he will not do the same to yours. I don't think this Leasing Thread is a very popular one or not many people view it. I will be leasing an ES in the next couple weeks or sooner and need all the information I can get. :)
  • newkid300newkid300 Posts: 18
    Cabloneblue,

    I spoke to a dealer this morning. Offer was $589.00 per month with taxes in the payments. Car has premium package, sunroof pkg, park assist, wood/leather wheel/ rear A/B, wheel locks, cargo net and all weather mats for MSRP per him of $38,379.00. He told me the Net Cap at $37,579.00. TMV said vehicle would not go under MSRP. Think I also can get him down prob $10-15 per month to close the deal. Lease is 36 months, 15K miles
  • Wow! I think that is pretty good. I am going for the UL Package so the numbers are going to be different. I would recommend getting some other quotes in writing from other dealerships. You may receive a better offer. Go back to the dealer that is closest to you and see if they will beat it.

    Thanks for your response. I feel loved again. LOL
  • newkid300newkid300 Posts: 18
    Now I am confusing myself as the SUV has a lease special which may be better than the car. Also, reconfigured for 2007. I really hate this nonsense.
  • You? I am down right embarrassed at how I have been going back and forth with picking a color. I don't even post half of the turmoil I have been going though in the main thread because people would think I am nuts. :D
  • newkid300newkid300 Posts: 18
    So here's the deal I did this afternoon. 2007 ES with NAV, and Premium package. MSRP was about $40,300. Sell price was about $39,600/ With 1400 out of pocket, 36 months comes to $608.00 per month with 8.375% tax in the payments. Up front is bank fee, ($600), MV and plates, reg and first month. No security. Getting 15,000 miles. Got black on black. Money factor was .00161. Think I got a pretty good deal - Car_man?
  • Wow, a money factor of .00161? What is that...an interest rate of 3.8? (If I calculated that right.) How can that be. You must have amazing credit to get it that low.

    So last time I chatted with you this morning, you were thinking of leasing the SUV. LOL What happened? You moved in pretty fast on that one.

    Black on Black. Nice!
  • forthillforthill Posts: 31
    Yes, how is that possible? Even for returning LFS customers the money factor was .00255 (that was before July 1st, I think they have gone up since then).
    Also, the residuals were to have gone up on July 1st.

    forthill
«13456729
This discussion has been closed.