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2013 and earlier Lexus ES 350 Lease Questions

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Comments

  • snowman22snowman22 Posts: 109
    Just another example of arrogance gone wild. These dealers are nothing short of crooks. They rip off the public at every turn. Lie,Cheat and demean the buying public. As you can tell I have had it with these crooks. The auto manufactures should set better guidelines for dealerships. Those dealerships are a direct reflection on the makers. The manufactures could do much better by changing the attitudes and less than honest practices bestowed upon us. Greed is what it is all about--pure and simple. :mad:
  • zstevczstevc Posts: 1
    Can anyone tell me the difference between a Buy Rate vs a Discounted Mark-Up Rate? I sent an email to a sales associate in Texas asking for the current money factor / residual on an ES350 at 15,000 per year for 36 months. BTW - I am a returning customer and have tier 1 credit.

    I got a response was "The lease money factor for the 2013 ES 350 would be .00150 with approved credit. The residual value for a 3 year, 15,000 miles per year lease is currently 59% of MSRP.

    I then stated, "I thought the current money factor was .00120". He replied with, "That is what’s called the “buy rate” from Lexus to the dealers. The rate I gave you is a discounted mark-up rate.

    Can someone please explain? Am I getting screwed?
  • newcar28newcar28 Posts: 9
    this is my first time posting so, in advance, i would like to thank anyone for their advice. I am in St. Pete, FLorida and about to lease the following:
    2013 ES 350 (basic package with rear camera), 36 MO, ZERO DOWN, 15K miles/yr
    MSRP $40,071 - Discount ( $2,403.08) = Selling price $37667.92
    Starting fees (sales tax, dealer, tag)= $3563.59

    Offer: 36 mo @$552.00

    Using the money factor mentioned in this thread for march .00120 with 59% residual, i calculate a payment of $463/mo. I have asked the salesperson for the money factor and am waiting to hear back but he wants to close the deal tomorrow morning and, honestly, it is the best deal i have gotten so far. plus, i am turning my car in early and saving two monthly payments on top.

    any advice PRONTO would be soo very helpful!! :)
  • newcar28newcar28 Posts: 9
    edited March 2013
    Well, i signed my lease for a 3 yr/15k miles/yr, @$552 per month, with first payment made by Lexus, $0 out the door. Plus they waived my last two payments on my current Lexus Lease.

    My question now is: should I buy the prepaid maintenance package?
    I have in the past thinking I was obligated to under the lease but now I realize that I am not. I plan on getting the oil changed at my local toyota dealer. Lexus mentioned a "big service" at 45K miles that costs about $700.00 - i think it is ridiculous since their own guidelines say all the car needs is an oil change every 10K miles and tire rotation and minor checks every 5k miles.

    Car man, would you please provide me with some guidance?? I have always done prepaid maintenance so I am curious if Lexus requests documentation proving that you had their "specific maintenance" performed prior to surrendering the vehicle. I looked at the lease agreement and did not see any mention of it. So, as I see it, I can get the oil changed at jiffylube or anywhere else for that matter. Thanks
  • snowman22snowman22 Posts: 109
    I just can't figure out why most posts are for 36 month---15k per year---and many with no money down. What the heck gives in the Western NY area--Buffalo--they only offer 27 month--10k per year. Do the dealers set the perimeters or are they set by the Manufacturer.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi snowman22. The special .00120 money factor (Tier 1+) is available for the 27-month term as well. I'm not sure what the 27-month residual value is, but it's probably around 70%.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    HA, the dealer is telling you that they're marking up your car's money factor, they're just "discounting" the amount that they usually mark it up on your deal. That's a new one. At least they're being somewhat honest about it. Tell the dealer that you want the .00120 money factor or no deal and they'll likely use it to work up your payment.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Why do people think you should get th rate for what the dealer does? I don't mind if you can but don't feel you're entitled to it or they are crooks, they exist to make profit, period. Believe me you don't get your home mortgage or your credit card rate at the banks rate, so what's the difference?
  • toby51toby51 Posts: 4
    Just wanted to give an update...we just leased the Lexus ES 350 with luxury package (rear camera and blind spot detector etc). We only paid the taxes up front and have a lease payment of $425/month for 10,000miles/yr 33month lease. Most dealers wanted $445 for the same lease.
    Also they paid the first months lease as well as bought out our current lease which was ending next month.
  • snowman22snowman22 Posts: 109
    That sounds like a great deal---what am I talking about---that IS a great deal. Our less than wonderful Lexus dealer only offers up $0 down 27 months 10k a year--$499. Plus must pay all dealer fee's and costs. Bet that add's up. That's what you get at the Amherst NY lexus dealer. But they are the only dealer around the Buffalo area. I would jump,at your deal.
  • kainnyckainnyc Posts: 76
    They didn't waive $hit that's why just monthly payment is so high! They gave you the old bright lights little city move! You should have gotten a a GS for that price
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I don't think that I said that dealers are crooks, utjon8201978. Of course dealers are entitled to make a profit. You'll probably find that I am less tough on dealers than many people are.

    I didn't use a broker to get my mortgage, I went straight to the bank that I got the loan from and dealt with them. I equate the dealer's F&I department marking up rates to using a broker who has to profit from your deal by marking up your rate.

    What personally rubs me the wrong way is when a dealer tells me that they are selling me the vehicle that I want at $500 over invoice implying that they are giving me an amazing deal and then marking up the finance rates to pad their profit on the other end.

    In the end, I don't begrudge anyone trying to make a profit...the dealers just aren't going to make a huge one off of me when I get my new vehicle ;).

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • newcar28newcar28 Posts: 9
    It would be kind of you to share how you propose I get the lowest payment and avoid "getting ripped off". The deal I negotiated was for the best lease money factor .00120 and the correct residual value. Add to that the $1400 saved in the two months left of my lease Plus the initial first month payment on the new lease Overall, i got the payment under the correct parameters plus an extra $2000 off which nets to a monthly payment of about $496 including tax. According to my calculations, I got a phenomenal deal and not in the "bright lights big city".
  • mnz1999mnz1999 Posts: 12
    ES 350 4-DOOR SEDAN
    Model: 9000
    Year: 2013
    Interior Color: PARCHMENT
    Exterior Color: DEEP SEA MICA

    I was able to negotiate 2 year 12000 miles per year $420 a month $2500 upfront includes everything (including tax 8% NYS) drive off.

    MSRP of $43702

    here is the break down of options:

    Blind Spot Monitor w/Rear Cross Traffic Alert $500.00

    Luxury Package: Perforated leather-trimmed interior,
    Heated & ventilated front seats, Dark brown bird's-eye
    maple wood interior trim, Power tilt-and-telescopic steering
    wheel, Lexus Memory Sys for driver's seat, outside mirrors,
    & steering wheel, Remote Keyless entry-linked memory
    Hard Disk Drive Navigation system with Backup Camera, 8"
    VGA Screen, Lexus Enform with App Suite Destination
    Assist, and eDestination, Lexus Insider, Voice Command,
    Single DVD/CD Player, HD Radio SiriusXM NavTraffic,
    SiriusXM NavWeather, an SiriusXM Sports & Stock
    (includes 1-yr trial subscription) $2,625.00

    Rain Sensing Wipers with Deicer $155.00

    Intuitive Parking Assist $500.00

    Wood & Leather Trimmed Shift Knob and Heated Wood & Leather Trimmed Steering Wheel $480.00

    Accy Pkg: Trunk Mat, Cargo Net & Wheel Locks $242.00

    Total Optional Equipment $6,707.00

    Vehicle Base Model $36,100.00

    Delivery Processing & Handling $895.00

    Total MSRP $43,702.00

    i think it's a good deal. what do you think?
  • snowman22snowman22 Posts: 109
    That's the best deal yet. Super. What dealer in NY. I'm in Western NY.
  • mrtrancemrtrance Posts: 93
    Carman,

    What are the current lease numbers for 27 and 36 month leases on a 2013 ES350? Need the residual and MF for both terms if possible. Thanks.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Certainly mrtrance. Lexus Financial Services' April buy rate lease money factor and residual value for a 24-month lease of a 2013 ES 350 with 15,000 miles per year are .00095 and 68% for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical 36-month lease are .00095 and 58%.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • sjeedsjeed Posts: 41
    Carman: What are the MF & Residuals for an ES300h, 27 and 36 months, 12,000 miles? Also, are there any purchase interest rate specials to consider? Thank you!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi sjeed. Lexus Financial Services' April buy rate lease money factor and residual value for a 36-month lease of a 25-month lease of a 2013 ES300h with 12,000 miles per year are .00170 and 70% for consumers who qualify for its top aka Tier 1+ credit tier.

    The numbers for an otherwise identical 36-month lease are .00170 and 60%.

    I am not aware of any special financing rates or cash incentives on this model right now.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • insidecarbuyinsidecarbuy NYCPosts: 95
    This car is loaded up! Blind spot monitor w/ rear cross traffic alert, Xenons, 17" liquid graphite wheels, Power rear window shade, Luxury package, Navigation Intuitive Parking Assist, wood steering wheel, Rain sensing wipers and accy package.

    CUSTOMER DISCLOSURE
    Customer Name: Inside Car Buying, LLC WD Deal ID: 25196
    Sale Vehicle: New 2013 LEXUS ES 350 9000 4dr Sdn w/AC , Automatic , Odom: 0


    Payment Details
    Term 27
    Base Payment 427.81
    Total Payment 427.81
    Purchase Option 29,717.36
    MSRP 43,702.00
    Est. Miles Per Year 12,000
    Excess Mileage Charge 0.25



    Amount Due at Signing

    1st Month Payment 427.81
    Acquisition Fee 700.00
    Fees & Insurance 181.00
    Upfront Taxes 909.04
    Total Inception Fees 2,217.85

    Total Cash Required on Delivery 2,217.85


    Tax Information
    Customer State: New York Customer County: WESTCHESTER
    Type Amount Rate Paid
    Cashdown Tax 57.16 7.3750 Upfront
    Upfront Tax 851.88 7.3750 Upfront

    Fee Information
    Description Amount Paid
    Reg 83.50 Upfront
    Insp 10.00 Upfront
    Title 12.50 Upfront
    DocFee 75.00 Upfront
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