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2013 and earlier Lexus ES 350 Lease Questions

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  • caliman3caliman3 Posts: 1
    Here is the deal that I got: premium only, 10k/36 mo, $2k down, $459 including tax (CA tax of 9.75%), Can I squeeze a little more?
  • I am trying to lease a 2009 Lexus 350ES and not sure if I am getting a good deal or not,
    the quote is for 36 months, 12,000 miles per year, but the money down has skyrocketed....
    $2,500 down, $1,100 sales tax, $227 M.V. Tax, $249 document fee, $700 bank fee,
    $420 first month payment, $15 =?,

    is this a good deal or should I shop another dealer?
    any help is greatly appreciated
    thanks
  • Lexus is running a Golden Opportunity Sales Event for a 2009 Lexus ES350. Listed below is the ad that includes key information pertaining to the lease BUT it does not provide the money factor.

    I have called multiple Lexus dealers and get the run around when I ask for the money factor. One said .00020 and another said .00040 is being used in this lease.

    Given this lease promotion description is there a way to calculate the money factor on my own? Looks to me like all of the key details are included in the ad to calculate cap reduction and residual but I just can't get any lease calulator to give me the money factor that Lexus is using in the ad.

    If you know how to do this please let me know the math you used.

    I realize that the $389 monthly payment does not include sales tax, document fee, title, etc..

    All I want to be able to do is run this basic lease promotion through the Edmunds Lease Calculator in order to come up with the $389 lease payment. Then I can add sales tax, etc, etc....

    Here is the Lexus Lease ad:

    "2009 ES 350 Lease Offer.

    $389mo 36 mos. $3889 due at signing"

    The ad footnote goes on to say:

    "Offer based upon MSRP of $37,710 including delivery, processing, and handling. 36 monthly payments total $14,011. 12,000 miles per year. Lease end purchase option $18,478"
  • billmvbillmv Posts: 145
    John, Can you use Excel? If so, you can back into the money factor, IF you know the MSRP, the cap cost, the length of the lease, the cap cost reduction, the bank fee, (whether it's paid up front or wrapped into the cost) and the residual percentage. So you need to be able to break down the $3889 due at signing.
  • billmvbillmv Posts: 145
    John, I just ran some numbers. With a $2500 cap cost reduction as part of the $3889, a $3090 discount from MSRP, using a .00020 MF, and no bank fee wrapped into the cap cost, the payment comes out to $389.07, pre-tax.

    Hope that helps.
  • smarty666smarty666 Posts: 1,503
    I was hoping anyone with a 2009 ES lease could tell me if LFS charges a disposition fee on their leases if you decide to return your vehicle and not buy it or not lease a new Lexus when your lease is up? Any information would be helpful!!
  • 10sfan10sfan Posts: 136
    I agree with the numbers posted in breaking down the $3889, what was the $1000 for after the cap cost of $2500 and first months payment of $389.07?
  • billmvbillmv Posts: 145
    probable for a security deposit, title, paperwork, registration, etc.
  • Just got this quote, any ideas on if its good?

    2009 ES350 with Premium Plus Package and Navigation (no Mark Levinson -- Ultra Luxury Pkg)

    $556/month including taxes, $900 down (includes first payment) for 42 months

    Was looking at the 2009 C300 Sport 4Matic and got a quote on that for 39 months, zero down, $565/month with a Premium 2 Package including AMG sport package, original MSRP $42K

    Which is a better deal?
  • What was the residual and money factor on the 2009 ES for September for the Texas area?
  • Hi txwebdesigner. You never mentioned how long you want to lease for or what mileage allowance you need, so I had to make some assumptions. Let me know if you want something different.

    Lexus Financial Services' October buy rate lease money factor and residual value for a 36 month lease of a 2009 ES 350 with 15,000 miles per year are .00075 and 50%, respectively for consumers who qualify for its top aka Tier 1+ credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • does anyone have the residual and money factors for a 2010 ES350 in OH?
    15K a year 36 month. Thanks
  • I'm looking for money factor and residuals in IL on 36 month 12k.

    I recieved a quote today for 2010 ES350 with Ultra/Levinson MSRP $44,414.

    Cap - $42,654 MF .00245 and residual of $26,648. No money down, monthly payments of $735. I have never leased a car before, but something doesn't smell right with this deal. I have done some research and the residual seems high.

    What does anyone think? Thanks.
  • billmvbillmv Posts: 145
    lexlease.....that residual is 60% of MSRP. That's set by Lexus Financial Services for a 36 months/12,000 per year lease. A high residual is a good thing. The higher the value at the end of the lease the lower your payment will be.

    Work on getting your cap cost (selling price) down. That will help the most. And make sure the money factor is what the dealer is paying LFS. The dealer can mark that up. You want the "buy rate" money factor.

    Good luck!
  • msf83msf83 Posts: 10
    $735 for a $42,000 car sounds way too high. How much is your drive off?
  • Bill - Thanks for the response. I didn't mean for my post to sound like I wasn't pleased with the residual. I know the higher the better, but I haven't seen one at 60% in the limited time I have been researching leasing. I was wondering if it was part of some numbers game the dealer can play.

    msf83 - The quote was for no money down so the drive off should be first payment and TL fees. I believe he said it would be right around $900.

    Thanks.
  • I just was offered (from LEXUS of Queens, NY) a deal for 2010 ES 350 :
    36 mo., 10,000 mi., Standard plus a few extras such as Heated/Ventilated seats, HID headlights w/adoptive front lighting system, Wood & leather steering wheel.
    Out of pocket: $1,412.00: Bank+T/MV+1st payment. Purchase option $23,103.75.
    For $515/mo. Infortunately, I don`t know any other numbers for calculation.
    Can any one tell me, if this is desent deal, with the limited info provided?
  • mikefurm, what's the MSRP and your Negotiated Price on this car?
  • Dear Carbuyer:
    The base price for 2010 ES 350-$34800 plus $1785 for options. I only negotiated
    for the amount of monthly payment-$515 (tax included) with zero downpayment.
    The other dealer offered $540 and $1650 out of pocket
  • I have never leased before so I want to be sure this is a good deal.
    For a 2010 Lexus ES350 with all the extras including the Navigation package sticker is $39,000 in the Boston area. The yearly mileage allowed is 15,000. We have A+ credit, and traded in an old 2001 lexus for $7000 (KBB said $5400 to $6400, and it was in a bad accident, so we were happy with that.) They also noted on the paperwork a $1500 rebate. We put no money down and they covered the first payment. The residual value is going to be $22,480 which we were fine with because we have no intention of purchasing it. The monthly payment quoted for this is 35 payments of $399. I don't know what they used for a rate or money factor, so now that I'm reading up on leasing more I'm not sure if this is as good as it sounds. Any input is very appreciated.
  • Hi lhatten. Lexus Financial Services' October buy rate lease money factor for a 36 month lease of a 2010 ES 350 with 15,000 miles per year are .00075 and 50%, respectively.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Here you go, lexlease1. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2010 ES 350 w/Ultra and 12,000 miles per year are .00235 and 58%, respectively.

    I realize that the car that you're interested in is equipped with the Ultra package, but still $700+ per month for a Lexus ES is nuts. There's lots of better cars out there that you could lease for less than that.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Thank you very much Car man. What do you think a fair payment for this car would be?
  • About to go pick up a 2010 Lexus ES350 w/ Nav. MSRP is $40,080 or something around there. 36 months, 12,000 per year., $0 drive off w/ a payment of $536/month. They also included free maintenance. Is this good???
  • So here are all the numbers on the 2010 Lexus ES350 w/ Navigation and other smaller options with $0 drive off I just picked up.
    MSRP $40,025
    Invoice $36,021
    Cap Cost $36,479
    Residual $24,015 (60%)
    MF .00235
    Term 36 Months
    Miles 12,000 per year
    Payment $536 per month
    They also paid $1,092.14 which included first payment, tags and fees. Leaving me with only 35 payments. Do you guys think I did okay on this?
  • fredm6fredm6 Posts: 51
    Hi,
    This deal sounds fabulous. My wife is looking and we have been to a couple of dealers and are getting quotes not that good on a $37060 MSRP. Would like one just like yours. What state are you in??? These are our first quotes, so I know they still have some room to deal. What packages did you get to make that MSRP in addition to the NAV.
  • I'm in Los Angeles... I also had parking assist, rear shade, wood trim and something else added in to the MSRP.
  • You're welcome, lexlease1. What a fair payment for this car is will depend upon that its MSRP is. I would be happy to use Lexus' current lease program to work up a sample payment for you if you provide me with this car's MSRP and approximate selling price, or MSRP and dealer invoice price. You can find this data over in the New Vehicle Pricing section of Edmunds.com.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Car man, The MSRP for the car is 44,414 and the invoice is right about 40,000. Thank you.
  • No problem, lexlease1. Thanks for the additional information. Let's crunch some numbers and see what we come up with. According to my calculations, if you were to lease a 2010 ES 350 w/Ultra that has an MSRP of $44,414 and a selling price of $40,750 through Lexus Financial Services right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $560.

    I assumed a selling price of $750 over invoice for this exercise, a higher selling price would cause the payment to rise and vice versa.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
This discussion has been closed.