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2013 and earlier Lexus ES 350 Lease Questions

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  • Hey 10sfan. Whether to get a new or a used Lexus depends upon what sort of pricing you can get on the used vehicle. many people swear by purchasing used vehicles because by doing so one can often avoid the massive depreciation hit that new vehicles experience during their first year of ownership. I am not intimately familiar with what the pricing is like for CPO ES 350s right now, but I have heard that used vehicle prices are very strong in general. CPO vehicles tend to command a premium over non-certified vehicles as well.

    From my perspective, unless I was realizing a significant savings by going with a CPO vehicle, I personally would probably rather go with a brand new one...but that's just me. Again it really would depend upon how cheaply I could get the used ES.

    Car_man
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  • I'd be happy to help you out, geojre.

    Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2010 ES 350 with 12,000 miles per year in your area are .00160 and 55%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    One needs a credit score of 720+ to qualify for the Tier 1+ tier. The straight Tier 1 tier is for consumers with scores from 690 to 719. The factors for that tier are usually .00010 higher.

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

    Lexus is running a special program that provides an enhanced money factor for loyal customers in its Eastern region right now, .00100 instead of .00160, but I don't know if Pitt is in the Eastern or Central regions. I'm sure that your dealer can tell you which one it's in.

    Car_man
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  • Hi pazzo1. While technically one could get into a new car only 39 months into a 48 month lease, more likely than not it will not be free to do so. Unless an automaker is running some sort of official early lease termination program, it is usually fairly expensive to get out of leases early.

    It's never a good idea to enter into a long lease with the intention of getting out of it early. If you only want a 39 month lease, sign up for that from the beginning.

    Car_man
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  • Hey pazzo1. You're talking about a multiple security deposit program. Many banks, particularly the ones that are associated with luxury automakers, offer allow lessees to make MSDs.

    I haven't looked into Lexus Financial Services' specific policy on this matter in some time, but the last time I checked LFS provided lessees with a .00010 reduction in the factor that is used to calculate their vehicle's monthly payment for every additional deposit they make, up to a maximum of nine.

    Car_man
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  • Hello marckschwartz. The car that you're interested in probably has a spread of around $4,700 between its full MSRP and its dealer invoice price. You were quoted a discount of $4,693...which is probably right around dealer invoice.

    This looks like a very good selling price to me. Just make sure that the dealer uses Lexus Financial Services' buy rate lease money factor to calculate your payment and you're in business.

    Car_man
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  • 10sfan10sfan Posts: 136
    Thanks Car Man, this is the delima. Living between the Milwaukee, WI and Chicago metro markets, I have great options in both regards. Unfortunately, with residuals still high, the used car market for this popular model is great and with that comes higher used car prices. Since it is my wife's vehicle, it would be driven 8-10K per year. With low mileage usage, it may make leasing a new ES 350 not as cost effective. Again, your correct in how cheap one can get the vehicle 2 -3 years old. Will follow the future posts and let you know how it works out..
  • Do you know if the dealer cash incentive and lexus lease rates are exclusive offers? or can they be combined?

    Thanks so much for your help!
  • abw123abw123 Posts: 1
    Carman, can you help me too? Really appreciate it. Can you comment on this deal in Texas:

    2010 Lexus ES 350
    12k miles / 48 months
    $41,500 MSRP, $34,700 sales price
    $600 out of pocket and $499 a month

    Does that look like a good deal? Also, what residual % should I assume for a 4 yr lease and what money factor for October?

    Thanks in advance.
  • Hi cartman13. Lexus raised its dealer cash on the 2010 ES 350 for the month of October to $3,000, but it eliminated its lease money factor support. You can still lease a '10 ES through Lexus Financial Services, you just have to use the dealer cash and its standard lease program.

    Car_man
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  • I'd be happy to help you out. The car that you are interested in probably has a spread of around $4,200 between its full MSRP and its dealer invoice price. Lexus is providing $3,000 dealer cash on it on top of that, giving you a total of around $7,200 to work with during your negotiations.

    You were quoted a $6,800 dealer discount on this car. That probably puts you at less than $500 over invoice...which is a good deal.

    Just make sure that the dealer uses Lexus Financial Services' current buy rate lease money factor of .00210 (for Tier 1+ customers) to calculate your monthly payment and you're in business.

    LFS' 48 month, 12,000 mile per year residual value for this car is currently 43%.

    Car_man
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  • geojregeojre Posts: 12
    Hi carman can you tell me more on the lexus lease loyalty program? Is that MF of. 1 still valid in the eastern region in october? Also does it apply to other cars like the rx 350?
  • Hi geojre. Unfortunately, Lexus pulled the plug on its lease money factor support on the ES 350 for October. On the positive side, it raised its dealer cash on the 2010 ES from $1,000 to $3,000.

    Lexus is not providing any lease money factor support on the 2010 RX in October either. Lexus Financial Services' buy rate standard lease money factor for both of these vehicles is currently .00210 for consumers who qualify for its top aka Tier 1+ credit tier.

    Lexus is providing $2,000 dealer cash on the 2010 RX 350 this month.

    Car_man
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  • 2008 ES 350 with residual value of $22K and only 20,000 miles on a 12K miles lease. This has the 1st level of options (no GPS) I will be swapping for a 2011 ES 350 similarly outfitted. A 2008 with similar stats sells for 28K to 30K in the Houston area,
  • Earlier this year I reviewed quite a few posts here and it seems like 7% was about the most Lexus dealers would drop from the MSRP on a new ES 350. This is not counting any dealer cash deals.

    So, what can I expect in December? MSRP - 7% - xxx Dealer Cash? What can I offer on a 2011 ES 350 that they will reasonably condsider?
  • In South Florida, I'm in a 2008 es w/ nav and pay $600/mo for 36mo/12k & prepaid maintenance incl

    I walked in to my dealer since I have 6 months and a few hundred miles until 36k and I'd heard Lexus waives the last 6 months of your lease if you get another one.

    For a base 2010 es (i'll skip the nav as the base model is nicely equipped) they offered me 36 mo/15k, maintenance included for $535/mo sign n drive, no money down.
    Basically 35 payments of 535 - I told him I need to sleep on it...seem like a good deal to you guys?

    1 of the 6 remaining payments is due 11/1 so i'm kinda anxious to move on it. Will I get a good price if I buy before the end of the month?
  • During December I've been given an offer for a lease on a 2011 ES which I believe to be a very good deal. It's a 36 months/10,000 miles for $515., tax inclusive with $1325. at lease inception - which includes first month's payment, tax, tag and title fees. The money factor is .00155 which equates to 3.72% - residual value is $24,523. Unbeatable???
  • Looking for 36 month, 15K mile lease. Level 2 nav system package, heated seats, wood trim, hi intensity head lamps, intuitive park assist and full size spare. They are quoting $495/month, nothing down. (This may include the owner loyalty.) How does this sound, what would you ask them to do better on?
  • They do want $1500 down, which includes the first payment. Is this a good deal? It seems that, despite the rhetoric about great end of the year deals, Lexus dealers have not offered much of anything this week, except the Lexus Loyalty $1,000 by 1/3/11. Thanks.
  • gb350gb350 Posts: 14
    Car_Man,

    Can you give me the December to Remember Lease rates for an ES350 @ 15K for 36 months?
  • rhk1rhk1 Posts: 8
    Looking to purchase a 2011 ES350 this week and would like to get the real LFS residual value for 10k, 12k and 15k miles per year, 36 month lease and top tier money factor.
    Thanks,
    Rob
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