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2013 and earlier Lexus ES 350 Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    You're very welcome, vchad.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi charliern9. The easiest way for me to evaluate this deal is to look at this car's selling price in relation to its full MSRP. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without these numbers, it is more difficult to tell how large a dealer discount you are being given, and in turn if there is any room left to negotiate. Let us know what they are and I'm sure that either myself or another helpful community member will gladly tell you what they think.

    Car_man
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  • charliern9charliern9 Posts: 22
    Hi Car man,
    Thank you for your reply and I will get the information you mentioned and post thereafter. I appreciate your help!!!
    Charlie
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    You're very welcome, Charlie.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • charliern9charliern9 Posts: 22
    Hi Car man!
    I just got an email today giving me the information we both wanted to see. The MSRP is 39,771 and my price is 35,335. The optional equipment is heated seats, wood & leather steering wheel, preferred accessory package and navigation which includes a back up camera (probably a nice feature to have since visibility in the ES isn't great). Again, my monthly lease payment would be $515., with residual value 19,090 (56%) and $1250. at lease inception (includes first month's payment, tax, tag & title. Would you say this wa a good deal for the Atlanta area? Thanks buddy-appreciate your time and expertise.
    Charlie
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Thanks for the additional information, Charlie.

    OK, so you're interested in a 2010 Lexus ES 350 that has an MSRP of $39,771 and a selling price of $35,355. That's a $4,400 discount on a car that probably has a spread of around $4,000 give or take...which needless to say is an excellent deal.

    Just make sure that the dealer uses Lexus Financial Services' current buy rate lease money factor of .00160 (for Tier 1+ customers) to calculate your monthly payment and you're in business.

    Car_man
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  • Thanks a million Car Man! It's so much more reassuring to get feedback from an expert. Since my initial post I requested some new figures because I wanted 2 features added to the car, which were xenon lights and a rear sunshade. It increased my monthly lease payment from $515. plus tax to $520. plus tax and the residual value increased from $19,090 to $ 19,920. The money factor was .00200 - is there enough of a difference between that amount versus what you suggested, .00160? I am definitely in the Tier 1 category with an extremely high credit rating. I'll wait to hear back from you and once again - thank you!!! Incidentally, I am working with Nalley Lexus in Smyrna, GA. in case that means anything to you.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    You're very welcome, charliern9. I definitely would make sure that the dealer uses the .00160 rather than the .00200 money factor to calculate my monthly payment if I was in your situation.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • 10sfan10sfan Posts: 136
    Hi Car man, appreciate your numbers for leasing a ES350. Have leased several vehicles in the past for business reasons. Just purchased my MDX off lease. Considering a low mileage lease new or purchasing a 2 - 3 year old ES350. Would consider a certified vehicle or purchase a Lexus extended warranty. Not sure which is more cost effective. Appreciate any feedback.
  • pazzo1pazzo1 Posts: 11
    Hi,
    Could anyone tell me if they have any information on a company called VIP auto leasing located in Staten Island, NY? If so, your thoughts....
    Thank you in advance!!
  • pazzo1pazzo1 Posts: 11
    If someone could give me feedback on a price that was given, greatly appreciated.
    W/Nav package (not ultra luxury)
    12k/48 months/$490/mth (including tax)
    1st month payment only due at signing 490. (No reg/bank fee/sec dep etc)
    MSRP: 41215
    Selling: 34776.73
    $factor: .002150
    Residual: 19371.05
    They are taking my old lease from me early.

    Let me know if this is a good deal.

    I prefer to have a 36 or 39 mth instead. Should I be hung up on this?

    Another offer was:
    10K/36mth/$500/mth
    Residual: NA
    $factor: .0016

    Do not have other specifics, b/c really do not want 10k miles.

    Thanks in advance for any feedback!!
  • geojregeojre Posts: 12
    Hi carman, I am considering a lease on an 2010 es350 no nav. 36months 10 or 12k per year. can you please provide me with residuals?

    I am assuming the mf of .00160 applies throughout. What is the rate for the next tier down? (just in case)

    Also is there any program for a repeat lexus lessee? I read another post of a buyer getting an extra $k, last I knew they only offered waived security. I live in pittsburgh.

    As always, thanks for your help.
  • kenb757kenb757 Posts: 149
    Called them awhile back when they were advertising ridiculously low lease prices on Swap a Lease. Have to have car shipped to you or pick it up and drive it home. Think they're no longer advertising the super low prices; too good to be true prices. Maybe someone finally challenged them on it. Call them, and see what they're "offering" now. I'm curious.
  • pazzo1pazzo1 Posts: 11
    Well I inquired about a Lexus ES350. The initial offer seemed good but I received a better quote direct from dealer. Checking to see if they will beat that price (see my quote under my other post pazzo1, Lexus ES350 thread, would like to hear feedback). Representative from VIP explained to me that they deliver the car with paperwork from Lexus. There was no discussion of paying VIP though? Just not sure I could lease a car without sitting with a representative of the car dealer....
  • pazzo1pazzo1 Posts: 11
    Incorrect Selling price above.

    Adjusted selling price is $36918.95

    Hope someone can give me feedback. Thanks.
  • kenb757kenb757 Posts: 149
    edited August 2010
    Thought $7k off was great, but your correction makes it more realistic. I really don't believe in leases that last more than 36 mos., you might as well buy the car. I went to Swap a Lease and it seems VIP is no longer advertising the low payments and low down they used to. I would bet the next generation ES, Avalon, and Camry will be much better cars considering the quality problems Toyota is having with the current vehicles, which is another reason to go with a short lease and the early buyout Lexus/Toyota may offer to get you into the new model. At least that's the way I see it. Interesting comparo on Swap a Lease: Avalon is significantly more expensive on a lease than the ES 350. Go figure.
  • pazzo1pazzo1 Posts: 11
    I was not looking for the 48mth lease on the other hand I would not have to go car shopping for a bit. Lexus also said that they will get you in a new car b/f the lease is over. So at 39 months it is possible to get into another.

    Do you think think that the offer is good or can a better be done?
  • 10sfan10sfan Posts: 136
    The Avalon is an excellent vehicle offering great room, reliability and mileage. The ES350 has better residual value which can make a difference on a lease. Both are viable new to lease or used to purchase, especially if they are lease backs.
  • pazzo1pazzo1 Posts: 11
    Has anyone ever leased on with putting down a security deposit to lower the money factor? Dealer explained that the entire security deposit would be reimbursed at end of lease provided not over miles, no excessive damage etc. This is just another way of leasing a car.

    Any feedback appreciated.
  • If I could get a quick response I would greatly appreciate it! MSRP $44,360 - purchase price $39,667 --- tax 7.25 - 36 month lease $704 - 39 $715 - total cash price all in $42,800. What do you think - buy because of discount or lease?
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