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2013 and earlier Lexus ES 350 Lease Questions

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  • Hi Carman,
    Could you please let me know what is the current Lexus 350 lease promotion under this year-end event?
    I qualify for a Tier 1 credit.
    Thanks a lot.
  • I have been quoted a residual value of 55% and a .0023 money factor on a 3 year lease for a 2008 ES350 with 12000 miles/year? Any feeling as to whether these are high/low, reasonable/unreasonable numbers?
  • I understand that the next round of Lexus lease incentives is July. Does anyone know the difference between the July incentives and the December to Remember incentives? Will I get a better deal by waiting until July with their incentives plus near the end of the model year? Are they anticipating making significant changes to the ES 350 for 2009? When do the 2009's come out?
    Thnaks for info.
  • Those numbers are spot on.
  • I wanted to be sure of the post above. Is the Dec to Remember rates 55% and a .0023 money factor on a 3 year lease for a 2008 ES350 with 12000 miles/year?

    The IS money factor is .00155 so the ES would be higher?

    thanks..
  • also my lexus dealer says that the Money factor reduction is only .0008 with every multiple sec deposit.
  • Yes, 55% residual (36 mo/12k) .00230 buy rate MF on the ES.

    All models' money factors vary (set by the bank). The IS rate is much better than the ES right now.

    In regards to the MSD's. .00008 discount sounds about right. I've seen it from .00007-.00010. Unless LFS is paying you interest to hold "your money", no reason for a MSD. Just my opinion, of course.

    Good luck!
  • robpacrobpac Posts: 2
    Have they posted the new residuals and money factors for ES350? The local dealer website is still showing the "December to Remember" event although it says it expired 1/2/08.

    Thanks.
  • nomisnynomisny Posts: 11
    15k/year, one luxury package ($3,820) most options -- NO navi.
    MSRP = $38,405.00 incl. destination.
    Any ideas on what a good payment would be?

    I'm in the NYC area. Thanks.
  • Hi robpac. Lexus has published its new January lease program for the 2008 ES 350. Unfortunately it is not providing lease support on it this month. As a result, if you were to lease one through Lexus Financial Services right now, you would have to use its standard lease program. LFS' current buy rate standard lease money factor is .00255 for consumers who qualify for its Tier 1+ credit tier. Its residual values for the '08 ES 350 vary by term and mileage allowance. The 36 month, 15,000 mile per year for one without the Ultra Luxury package is currently 54%.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi nomisny. The car that you mentioned probably has a spread of around $4,400 between its full MSRP and its dealer invoice price. I will work up a sample payment for you, assuming that you are able to get it for around $1,000 over invoice. It will probably take a dealer discount of around $3,400 to get there. If you are in an area that has a decent level of competition, you may be able to do better than this. Make sure to stop by the "Lexus ES 350 Prices Paid and Buying Experience" discussion to see how much other community members have paid for similar cars lately.

    According to my calculations, if you were to lease a 2008 Lexus ES 350 that has an MSRP of $38,405 and a selling price of $35,005 through Lexus Financial Services right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $539.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi Guys - this is a wonderful forum. My last month of my current lease is April. I know intrest rates have fallen recently. Am I better off waiting to lease my new ES350 until April - or do it now when rates have dropped a bit? There is no penalty in the lease after March 5th... Can you advise the current MF's - and whether a 36, 42, or 48 month lease is best?

    Thanks
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    I'm glad that you enjoy this forum so much, skywalker3333. Here's Lexus' new lease program for the ES 350. If you were to lease this car through Lexus Financial Services prior to March 31st, its buy rate lease money factor and residual value for a 24 month lease with 15,000 miles per year would be .00155 and 60%, respectively. The numbers for an otherwise identical 36 month lease are .00155 and 54%. Its 48 month numbers are .00155 and 45%. If the vehicle that you are currently leasing is also an ES 350, you are eligible for a special $1,000 owner loyalty incentive if you lease a new one. Make sure to take this cash into account when negotiating your car's selling price. It is difficult to say what this car's April lease program will be like. There is a chance that LFS will enhance its money factor slightly, but I believe that it is scheduled to publish its second quarter residual values in April. Any drop in this car's residual values, which is likely, would at least partially, if not entirely, offset any improvement in the money factor.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • smith83smith83 Posts: 45
    Hi Car_Man.

    I have been offered the following deal on a Lexus ES 350:

    MSRP w/XM $37646
    Sale Price for March $35000
    Lease End Residual $18528.84
    Money Factor .00205
    36 mos. @ $619.59 w/$619.59 total down

    What do you think?
  • sextonmsextonm Posts: 1
    Hey Car Man,

    I'm in the process of evaluating a first time lease agreement and I wanted to run the numbers by you to get your opinion.

    For the 2008 ES 350:

    MSRP $42,300

    Sale Price $39,900

    term 36 months

    Residual money factor 54%

    Money Factor .00265

    The concern that I have is the money factor. Does this number look high to you? What's the typical money factor range and can this number be negotiated?

    Also, is it recommended to go with as little money down as possible?

    thanks,

    Sextonm
  • Lay it on me....is this a good one?

    24 month
    12000 miles
    MSRP 37,8000 (no Nav)
    selling at invoice of 33861,
    $1000 out of pocket,
    62% residual, .
    00155 buy rate on money factor,
    payment of 545.88 +tax = 588.10 inc tax.
    Offer ends by March 31.
  • Car_Man is a busy guy so I'll step up on this one...

    Residual value is correct. Current LFS base rate is .00155. If your credit is 720+, you qualify for LFS Tier1+ credit tier and should be given the above rate. You need to ask for it, otherwise they'll take advantage and "mark the rate up" as they have done thus far @ .00265.

    If you live in a competitive region, they need to reduce your cap cost (selling price) by another $2000-$2500 to get you right around invoice.

    Lexus charges a $600 lease acquisition fee on this vehicle and most dealers will cap the cost into your lease, however, you can pay it upfront or as part of your drive offs. The figures below represent payments with and without the acq fee capped into your payments.

    Judging by the numbers you've provided, they're probably quoting you between $638 and $655 + tax. Realistically though, with a more aggressive cap cost/selling price and utilizing the buy rate money factor, payments should be more in-line of $510 - $527 + tax.

    Do not make a down payment/cap cost reduction on a lease. Just pay your 1st mo. and dmv fees upfront. Again, you can pay the acq fee upfront too, or cap it into your lease. There might be a security deposit required. Have to check, but willing to bet it's waived for tier 1 + customers.
  • Numbers look pretty much right on... go for it!
  • From what I can tell, this appears to be a good quote - comments?

    ES 350 MSRP 37800
    $2,812 discount
    no NAV, but standard upgrade pack
    tax included
    acq fee rolled in
    no down
    1st payment included
    15,000 miles per, 48 months
    511.34 month
    central ohio
    by march 31
  • sprolisproli Posts: 1
    Am looking to lease in the Miami area this month, as my current car lease is up. Does anyone have figures for April? An incentives? Would like 36 or 39 month lease. No money down (advisable). Leasing prices, etc. Would appreciate any imput ASAP.. Thanks. Miami Gal
This discussion has been closed.