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2013 and earlier Lexus ES 350 Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Certainly postman. Lexus Financial Services' August 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 .00060 and 54%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi sjeed. I haven't seen all of the numbers for the new 2013 models yet. I'll ask around and see what I can find out for you.

    Car_man
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  • Thanks car man

    One more question....what would the residual be @ 10k and 12k per year?

    Thanks
  • pvleckpvleck Posts: 4
    The 2013 buy rate lease money factor of .00180 sounds like THREE TIMES the 2012 buy rate lease money factor of .00060. Is that correct?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome thepostman. The residual value for a lease with 12,000 miles per year would be 2% higher than its residual value for a lease with 15,000 miles per year. The residual value for a 10k lease would be 3% higher than the 15k.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Yes that is indeed correct, pvleck. Lexus is focusing on clearing out the remaining 2012 models before it worries about the 2013s.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • sjeedsjeed Posts: 41
    Hi Car_man: Thanks for the money factor; doesn't surprise me since this is about what it was before the clearing out of prior year models, except the residuals were slightly higher, too. Any update on what the residuals are for the 2013 ES300h? Thank you again!
  • rapman1rapman1 Posts: 3
    I am looking at a loaded Lexus (MSRP $43,702, but have not started negotiating yet!). I asked dealer for lease rate on MSRP as a reference. He came back with $6000 down for my trade in, applied to taxes, tags, dealer fees and lien. He is offering a 36 month lease with 12,000 miles/year of $587/mo. I don't know what the residual is.
    Is this a good deal? How aggressive can I negotiate off the MSRP?
    Thanks to all from a newbie at leasing!
  • Negotiated '13 ES ($43702 MSRP) for $42,000 at NJ dealer. Taking delivery tomorrow. White/black. Very excited.
  • rapman1rapman1 Posts: 3
    Can you tell me where in NJ? I would drive an hour for $1762!!
  • dmor80dmor80 Posts: 1
    edited August 2012
    Thanks for the invaluable insight carman. I got some numbers that are throwing me off from my local dealership in Florida. I'm looking to lease a 2013 ES350 model base package at 12k/year. I asked for both 36 months and 48 month lease plans based on Tier 1 rating. Here's what I got:

    12K/year @ 36 Months : Residual value of 62%, MF .00180
    12K/year @ 48 Months : Residual value of 51%, MF .00180

    The residual value for 36 months seems very high. Does this sound right to you? I've read that leasing values really can't be negotiated and that only the price can for leases. Any tips would be greatly appreciated!
  • sjeedsjeed Posts: 41
    edited August 2012
    For what it is worth the 36 mo residual tracks with what I am getting, but the MF you are showing is being represented as Tier 1+; Tier 1 is being quoted at .00190. From what I have seen, the majority of leases are done at 36 months, after that the the market views the value of the car to have a steep decline. In addition for a period greater than 36-42 months, the argument to finance versus lease, could weigh towards financing depending on one's own personal situation. Perhaps, Car_Man can shed some further light on this...
  • Hi Rapman1,

    Can you provide me your email address and I'll send you details via a private message.

    Sabaka41
  • I too am negotiating a 2013 ES lease, no trade-in. Live in NJ, can you share dealer info with me? Been to cherry hill and Lawrence Lexus. Thanks.
    Mike M
  • Hi Mike,

    Got mine at Ray Catena Lexus of Monmouth. Dealt with Andy Siebert. Excellent car, excellent dealer. MSRP was 43702, purchased for 42000 + tax.

    Can't be any more happier with the car.
  • Just wanted to share this since it may help someone like me who was following this blog:

    Got a lease for 2012 ES 350, 17" alloy wheel, heated/air-conditioned front seats, HID lamps, Intuitive park assist, Leather seats, leather steering, Preferred accessory package.
    Sticker on the car was $41,000.

    Lease deal: $329.50/month, 36 months, 12,000 miles/year.
    Down payment $1450 + Taxes, Title, Registration, Bank Fee, Plates, First month payment.
    Disposition fee $350.
  • Hi,

    What was the selling price and what money factor did they use? Also what residual did they use since it was a 2012?

    Thanks

    I am also looking at a 2012
  • The sticker on the car is $40,342.
    But the priced used in the calculation of the lease is $35094.
    Residual value is $22591.
    I am not sure what money factor they used.
    Hope this helps.
  • Car Man,

    I am trying to work a deal on a new ES300h and they are offering the following numbers:
    MSRP - 46162
    Purch - 45162
    36 mth, 12k mile lease
    resd - 62%
    $ factor - .00229

    They claim that is for credit above 700 and mine is slightly above 800 according to my CU (the CU is offering long term rates for me at 1.75%). They also suggest that because it is a new model, Lexus is not offering favored rates at this time.

    I would like you to verify the numbers of possible - if they are accurate then I may need to consider the Audi A6 or BMW 528 which are offering better lease factors though the prices are a bit higher.

    Look forward to your reply and thanks in advance.
  • sjeedsjeed Posts: 41
    tambaydriver: for what it is worth I went through this same exercise at the end of August, when they were first coming on to the dealer's lots. The MF then was .00180 for Tier 1+ (which is a credit score of 720 and over), and the residual for 10K was 63%, which tracks with your 62% for 12K. I came to the same conclusion that because the car is too new that deals are not being done in any aggressive manner. The $1,000 off of MSRP was what I was getting. I think it is a great car, but I can afford to be patient. Hope this information helps.
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