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2013 and earlier Lexus ES 350 Lease Questions

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  • randomjohnrandomjohn Posts: 9
    edited October 2011
    I picked up my 2011 ES 350 on Saturday, right at the beginning of an awful storm. For anyone else who's interested, here are the highlights:

    heated seats, no nav, wood trim, that stupid 3-piece accessory package with the wheel locks, and maybe one or two other minor things. I really didn't want any options.

    Invoice was $35,886, which they then applied the $1,000 dealer incentive to, so my sell price was $34,886. I traded in my old car for $4k, which I applied as a cap cost reduction (I know that's not recommended, but it wasn't cash out of pocket, made the wife happier with lower payments, etc.),

    so the payment is around $417 for 36 mo/10k miles. The dealer's doc fees were a little high, but I did get them to waive that ridiculous $199 "vin etching." All in all, I'm pretty happy with the deal. I waited until end of month, end of model year, and car_man's advice has been to aim for $500 above invoice, so even with the doc fees I think I did pretty well.

    Lexus of Westport.
  • Hey, Car Man

    Am interested in a 2012 ES350 3 year lease. Can you please provide the Lexus Financial Services' money factor (for top tier 1+ credit) and residual for 10K miles/yr and 12K/yr. Thanks!

    Howdyman
  • Hi snowman22. Generally speaking, manufacturers used vehicle lease programs aren't great deals. Consumers often find that they are able to lease a brand new vehicle for not much more than it would cost to lease an equivalent CPO model. As a result, I do not personally keep tabs on the details of manufacturers' used vehicle lease programs.

    Car_man
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  • You're very welcome qooraf.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    edited November 2011
    Oh I am very familiar with the storm that you speak of, randomjohn. What's the deal with snow in October :surprise: ?

    It sounds like you did very well. Congratulations on getting your new car and thanks for taking the time to share the details of your deal with us. Enjoy your new ride :shades: !

    Car_man
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  • I'd be happy to help you out Howdyman. Lexus Financial Services' November buy rate lease money factor and residual value for a 36-month lease of a 2012 ES 350 with 12,000 miles per year are .00150 and 59%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    The residual value for a lease with only 10,000 miles per year is 1% higher.

    Car_man
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  • After checking things out--you are correct--used car leases are not the best way to go. I'll stick with your earlier advice and wait for the December to remember programs. I gotta add one thing--in our area we only have one lexus dealer. They will not deal at all because they have the market to themselves.They say the great buying experience----not a chance--they are snooty beyond snooty. Could be I'll buy a ford--"only kidding"
  • What dealer snowman, South Jersey?
  • 10sfan10sfan Posts: 136
    Had a similar unresponsive problem with both Acura and Lexus dealers in a competitive market area. Owning two Acura's, thought I had an advantage.
    Since I was only going to keep this vehicle for 3 years with a low mileage lease to replace an Acura, I looked at all options in my price range.
    Again, Who is kidding who?
    No dealing with either of them. Ford/Lincoln makes a good vehicle, pricing was right and they wanted, yes wanted my business and made the best deal by far.
  • car_dude24car_dude24 Posts: 9
    edited March 2012
    Hi,

    I posted this in one of the other blogs but was redirected here.

    I am looking to lease a 2012 lexus or audi and would like your opinions. A friend of mine just got a lexus ES 350 touring edition (MSRP 40275) for 7000$ down and 300/month. Is that a good deal? This is in New jersey. While I am currently leaning towards the lexus I want to know if the above is a good deal and if I should try to get the same.

    What are your thoughts?

    Thank you for your help.
  • mustangcnjmustangcnj Posts: 1
    edited March 2012
    Hi Car_man,

    can you please provide tier 1 money factor and residual %age (36 months) for this month in NJ/NY area for ES350 and GS350.

    thanks!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I certainly can mustangcnj. Lexus Financial Services' March buy rate lease money factor and residual value for a 36-month lease of a 2012 ES 350 with 15,000 miles per year are .00095 and 59%, respectively for consumers who qualify for its top credit tier in your area.

    The numbers for an otherwise identical lease of a 2013 GS 350 are .00190 ans 63%.

    Car_man
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  • am09am09 Posts: 21
    Hi carman.

    Please provide the money factor and residual value for 10k/36 month lease. I am being quoted price of 35k for afar with MSRP of 39k. Does that look good? I am also being charged $700 bank fee and $300 dealership fee. I am being offered $1000 as a loyalty payment (I currently own a lexus).
    I am being told that the residual value is 58% and money factor is .00105. I am looking in northern Nj.

    Thank you.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I'd be happy to help you out, am09. Lexus Financial Services' buy rate lease money factor and residual value for a 36-month lease of a 2012 ES 350 with 10,000 miles per year are .00105 and 58%, respectively...just as you were quoted.

    A $4,000 discount on this car is pretty good.

    Car_man
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  • am09am09 Posts: 21
    Thank you carman. I finalized my deal today, got my car for $443 for 36 months no money down. I am happy with the car.
  • 10sfan10sfan Posts: 136
    Sounds like a great lease deal. What was the MSRP?
  • Sounds like a good deal AM09. Couple of questions - Is this for the model with navigation? Also, does the $443 include tax? Lastly, did you have to pay any other fees or was all of it taken care of by the loyalty bonus?
  • am09am09 Posts: 21
    Base model with about 1K worth of options - mats/wheel locks. etc.
    443 was with taxes (7%). 36 payments of $443, no other fees. Hope this helps.
  • ezericsezerics Posts: 25
    I have a sort of general question. I leased a 2011 ES 350 back in May of 2011. I ended up with 545 a month. I purchased on Long Island, NY. I visited a few dealers and they explained that the 'base' model around here typically includes wood trim and sunroof, leather, etc. So if that is the case how are you supposed to judge the price. Would you basically use the Edmunds base price and then add the price of the luxury package to that? I ended up getting the Nav system and paying 545/mo. I put zero down but I had some out of pocket cost for sales tax and various fees. I was happy at the time.

    Then in Dec. 2011 my boss leased the same vehicle from the same dealer and got it at 520/mo but claimed that he did not pay any sales tax. Ever since I've wondered how he paid nothing down or even sales tax. Is this possible? I've tried to look into it but I thought you were required to pay NYS sales tax up front.

    Could someone please explain how NYS sales tax works in a lease and what are the permitted acceptable fees that we should pay at the commencement of a lease.
  • kyfdxkyfdx Posts: 30,552
    The sales tax is paid upfront (in NY), but you don't have to pay it upfront, directly..

    The bank will pay it, and then add that amount on to the CAP cost of your vehicle..

    MODERATOR
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome, am09. Congratulations on getting your new ride! Enjoy :shades: .

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Kyfdx is absolutely right. Your boss definitely did not get out of paying sales tax...the dealer just baked it into the lease.

    Car_man
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  • msbevmsbev Posts: 3
    I visited a lexus dealer to inquire about the 2012 ES 350. with and without NAV

    for the no nav i was quoted 3157 down excluding taxes and fees with a payment of 389.00 with nav the price went to 4000 down and 529. per month. i am currently in a 2009 maxima lease with ends in september with 3 payments of 375. the dealer offered to excelerate the lease to put me in the lexus. i felt a little frustrated bc of the following:
    why is the lease mileage on 10000 per year?
    if the nav is only 2500 more why did the payment over 36 month total 5040
    with a credit score of over 700, I feel that I should have gotten a much better payment quote.
    please help. I would like to know what the common month payment for a 2012 es with nav is and what ke questions i should be asking..
    Thanks
  • msbevmsbev Posts: 3
    Hi Car Man- I am looking to lease a 2012 es350 with NAV.. my credi score is in the 7's..
    Can you tell me an acceptable down payment and monthly payment for this without me feeling as if im ripped off? ;)
  • car_dude24car_dude24 Posts: 9
    Thanks AM09
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi msbev. I can work up a sample payment for you, but the exact payment for the car that you want will vary depending upon how it is equipped.

    According to my calculations, if you were to lease a 2012 ES 350 with only Navigation that has an MSRP of $40,065 and a selling price of 38,052 ($500 over invoice) 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 $511.

    Car_man
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  • ga40ga40 Posts: 4
    Got quoted $580 with nav and msrp of 43k. This includes tax, title and licensing. 12k and first payment is free. 36 months with 12k /year

    Please share your thoughts.
  • msbevmsbev Posts: 3
    Thank you car man! Are there programs out now with zero down for the es350? everywhere that ive been has been asking for at least 3800 down.

    Thanks
  • ga40ga40 Posts: 4
    Bought car for 0 down, 12k/yr for 575 a month which includes tax of about 40 dollars a month. Msrp was 43400 with rear spoiler
This discussion has been closed.