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2013 and earlier Lexus ES 350 Lease Questions

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  • gb350gb350 Posts: 14
    Car_man,

    Edit to my post above, '11 ES350 Ultra package: 15k per yr/ 36 month.
  • gs100gs100 Posts: 4
    Can you tell me which dealer is offering the deal?
  • Hello,

    I am looking to lease a 2011 Lexus ES350. Could someone please tell me the money factor and residual for this month?

    Thanks.
  • 10sfan10sfan Posts: 136
    Hope they start dealing in January as their December ES sales numbers ewre down %13 and only up 1% for 2010?
  • I received an email from an internet manager today asking me to hold off 24 hours on making a decision to go with another manufacturer as they would have a much more competitive offer than what they gave me during the DTR time period. I'm unlikely to change my mind given that the 2011 is so similar to the ES I already lease, but I will listen and if it is a great program I will come back and share it.
  • Here's the latest info for you, gb350.

    Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2011 ES 350 with 15,000 miles per year are .00175 and 55%, respectively.

    Car_man
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  • Hey gb350. Adding the Ultra package to this car lowers its residual value to 53%.

    Car_man
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  • Here's the information that you're looking for, Rob. LFS' current buy rate lease money factor and residual value for a 36 month lease of a 2011 ES 350 with 15,000 miles per year are .00175 and 55%, respectively for consumers who qualify for its top aka Tier 1+ credit tier.

    The residual values for a lease with only 12,000 miles per year are 2% higher. The 10k residual would be 3% higher.

    Car_man
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  • Greetings edcasino. Please see my previous posts for the information that you're looking for.

    Car_man
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  • Does anyone know the the March 2011 lease deals on the ES? Thanks
  • guugosguugos Posts: 10
    I ma starting my negotiations with 2 dealers this weekend. will share what I get asap.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi lscnewport. I believe that Lexus Financial Services' March buy rate lease money factor for the 2011 ES 350 is .00175 for consumers who qualify for its top aka "Tier 1+" credit tier.

    Car_man
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  • scoot84scoot84 Posts: 21
    Hi Car_Man,

    I saw in your previous post you listed the March MF as .00175. Do you also know the residual for 36 months with 12k miles per year?

    Thanks so much.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi scoot84. Yes that money factor is correct. Lexus Financial Services' March residual value for a 36 month lease of a 2011 ES 350 with 12,000 miles per year is 57%.

    Car_man
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  • sjeedsjeed Posts: 39
    edited March 2011
    Car_man: Any chance that you have the money factors for Tiers other than 1+? Due to economic circumstances over the past couple of years I know that we are no longer at Tier 1+, or even Tier 1. I wish to rebuild our credit but don't want to be taken advantage of. We have already been pre-approved by Lexus Financial, but the dealer is quoting a MF of .00555 for a 36 month lease, which is the highest I have ever paid for a lease. That said, I believe FICO is not what it used to be, probably high 5's to low 6's. Thank you.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    I certainly do sjeed. A credit score in the high 500 to low 600 range probably qualifies for Lexus Financial Services' Tier 6 (609-580 score). LFS' buy rate for that tier is .00515. this is a little lower than what you were quoted, so make sure that the dealer uses that rate to calculate your payment.

    Still, this is a pretty bad interest rate. We're talking about a "special" rate that's over 12%. If I had to pay that high a rate, I personally would look into financing or leasing a less expensive vehicle.

    Car_man
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  • Can you please list the money factors for march for the other tiers 2-4 and what the score range is? Finally, aside from the $1000 rebate for the IS350 are there any other incentives. I'm looking to lease one today for 36 months.

    Thanks,

    Gator
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi Gator. Lexus Financial Services' credit tiers are as follows:

    Tier 1+ 720+
    Tier 1 719-690+
    Tier 2 689-670
    Tier 3 669-650
    Tier 4 649-630
    Tier 5 629-610
    Tier 6 609-580
    Tier 7 579-520

    Car_man
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  • Hello,

    Great forum here!

    I am getting close to pulling the trigger on a 2011 ES 350 with "Package B" (Nav, rear cam, etc.). List price on this is $41,470. Selling price is at $40,000 at this point.

    This is where I am before any real negotiating with the dealer:

    36 month lease
    .00220 Money Factor
    $3000 down (which covers fees and license). Cap reduction is only at $451.
    12k miles per year

    Payment $631.17 per month

    Money factor seems decent. How far down can I negotiate the price of the car? Might they go down to $38,000 with the options I've chosen?

    Any advice or input as to whether this is a good deal would be HUGELY appreciated!

    Thanks much!
  • sjeedsjeed Posts: 39
    edited May 2011
    I was about to do the same transaction in mid-April, and only didn't because I didn't want to spend that much money right now. That said, having owned and leased about 8 Lexus vehicles I feel I have a pretty good handle on these transactions and working with dealers.

    The deal I had was $500 above Invoice, for basically the same car, for which the MSRP was 41,460, and the selling price was $38,214. This was in Northern CA.

    You didn't state whether there will be a security deposit, but if you have been a prior customer of Lexus, they often times waive the security deposit (depending on your prior experience) and offer a $1,000 cash rebate for a new finance or lease. I believe the lowest money factor for Tier 1+ credit was .00175 in April. And the residual was 57% for 12k/yr miles.

    So, the bottom line is I think you can certainly do better on the selling price, and depending on your credit score you might be able to do better on the money factor as well.

    Hope that helps.
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