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2013 and earlier Lexus ES 350 Lease Questions

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  • tdoh --

    Thank you very much for your insights. Yes, the sales tax is a killer -- but, such is life here in PA. ;-)

    Does anyone else here have any thoughts about the whole "trade in on a lease" question that I have? I'd like to make a decision on this asap, but would love to hear from others who have been through this.

    Thanks!
  • Hi garsarno. The money factor that you were quoted for this car is right in line with Lexus Financial Services' current buy rate for it. This is a good sign because it means that the dealer you are working with is not marking your car's money factor up to add hidden profit to your deal. There is definitely over $2,000 in dealer profit left in your car, but I am not all that familiar with what the market is like for it right now so it is difficult for me to say if you will be able to get one for a lower price than the one that you were quoted. Try looking in the following discussion to see how much other community members have paid for similar cars lately: "Lexus ES 350: Prices Paid & Buying Experience".

    Car_man
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    Prices Paid Forum
  • Hi beltelmel. There's nothing wrong with trading in your existing car when leasing a new one. Just have the dealer that you are working with cut you a check for any equity that you have in your car rather than using the proceeds from it a s a down payment on your lease. You should be able to get an idea of how much you will have to pay to get this car right now by visiting the following discussion: "Lexus ES 350: Prices Paid & Buying Experience".

    Car_man
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    Prices Paid Forum
  • Welcome go21bucs. If the capitalized cost that you mentioned is this car's selling price, you aren't being given much of a discount on it. You should be able to do a lot better than a $500 discount on an '07 ES 330. The money factor that you were quoted does look a little high. Lexus Financial Services' current buy rate lease money factor for the 2007 ES 330 for consumers who qualify for its "Tier 1+" credit tier is currently .00275 in most areas. I believe that this car's "Tier 1" money factor would only be something like .00010 higher.

    If you have a vehicle that you have equity in that you can trade in you actually would be better off having the dealership that you are working with cut you a check for it instead of using the proceeds from your trade as a capitalized cost reduction for your lease. Consumers who make cap cost reductions risk losing them if their vehicle is totaled in an accident or stolen.

    Lexus Financial Services' current base lease acquisition fee is $600. This fee is set by LFS and all consumers who lease have to pay it. I'm not sure why it was $50 higher in one part of the quote you were given.

    Car_man
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    Prices Paid Forum
  • Car_Man,

    Do you have the Lexus Residuals and Money Factors for a 2007 ES350 (premium and nav) for a 15k lease for 36 months?

    Also, any word on when December to Remember will come out?

    Thanks,
    Mike
  • Just leased an ES350 in Atlanta, GA. I called all 5 dealers in the metro area and negotiated prices. Finally 3 of the 5 said no and two agreed to a Lease price of $579 plus tax on a Nav/Premium Plus unit with an MSRP of $41,500. Car Color is Obsidian with Cashmere.

    I am confident that that is at least close to the best you can do in Atlanta because everyone was willing for me to walk away below that number. Every dealer said they had a very small selection of cars available for sale most were coming in presold.
  • Thanks for the info. A few questions....

    What did you agree upon for purchase price?

    Did you put any additional money down outside of first payment and security deposit?

    What was the money factor and residual? Also, how long of a term are you leasing for? How many miles a year?

    Thanks!
  • $38422 Sale price + $600 Aquisision fee = $39022 Total Cap Cost, Just starts down(1st Payment and Security Deposit),36 months 12K miles, Residual of $24202.98.

    Not sure about money factor...sorry...I was negotiating based on Payment and so was not managing the money factor variable.
  • Here you go, Mike. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 Lexus ES 350 with 15,000 miles per year are .00275 and 57%, respectively for consumers who qualify for its Tier 1+ credit tier. While I have not seen any official word on when it will begin, I strongly suspect that Lexus' annual "December to Remember" sales event will begin on November 22nd. If I was in the market for this car, I personally would definitely wait until then to lease one.

    Car_man
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    Prices Paid Forum
  • sammys - I know I'm responding to a very old post, but this is my first time going thru these forums. So I thought I would put in my two cents on the affect of RV, money factor and msrp (or agreed-to price). This is something I had worked up this afternoon when considering a 36 month lease, $40K msrp, 0.00275 money factor and 58% RV.

    ** For every $500 reduction in price (all else constant), the monthly payment drops by approx $15

    ** For every $500 (or 2%) INCREASE in RV, the payment drops by approx $12

    ** For every 0.0001 decrease in the money factor, the payment drops approx $6

    Hope this is helpful. For me, I'm trying to focus more on negotiating the top line. I'm hesitant to allow them to jack up the residual value, since some lease agreements are open-ended. In that case, you would be stuck with the delta between the actual price in 3 yrs (vis-a-vis the negotiated RV).
  • Car_Man,

    It seems like most of the posts were from this summer, so I wanted to get your thoughts on how much better or worse the deals are currently for an ES350.

    1) Is it still resonable to expect $2-3K under MSRP? Does the "December to Remember" make it better or worse?

    2) How does one negotiate on the money factor? Beyond Lexus Fin Svcs, I don't even know who else could quote me a figure.

    3) Is there a website that publishes the geographic differences in the money factor or residual value? I have a "first round" quote from a sales person in Oregon that has 0.00289 and 58%.

    4) What other pitfalls should we watch out for? In particular, I'm concerned with open-ended leases and any fees due to wear and tear. Does the lessee have any leverage in negotiating those end-of-lease fees?

    Thanks in advance for your help and all of the useful info in this forum.
  • Hello I need some help and info on leasing Lexus RX 350. They have now December to remember and I was wondering if that deal can be negotated or that's it.
    Any idea what would be a good deal so the dealer don't take me to the cleaners. I am very bad in negotiating.
    I appreciate any good advice
  • Hi saprissa. Lexus is running its famous "December to Remember"' sales event right now. As a result, its lease offers on most vehicles are pretty good this month. This special lease program should not have any impact upon your ability to negotiate an attractive discount on this car's price. I would not be surprised if you were able to negotiate a $2,000 to $3,000 discount on one if you are in an area where there is a decent level of competition. Make sure to stop by the following discussion to see how much other community members have paid for this car lately: "Lexus ES 350: Prices Paid & Buying Experience".

    Vehicles' money factors are not negotiable, meaning that consumers cannot get dealers to give them a lower money factor on the vehicle that they want than the one that is published by the bank that they lease through. However, dealers are often allowed to mark up vehicle's money factors to add hidden back-end profit to deals. This is why it is important to know exactly what the buy rate is on the vehicle that you want before you agree to lease it. Right now, Lexus Financial Services' buy rate money factor for the 2007 ES 350 is .00245 for consumers who qualify for its Tier 1+ credit tier. Make sure that this is the factor that is used to calculate your car's monthly payment. There should not be any regional variation in this car's money factor or residual values right now.

    All vehicles today are closed-end leases, so you don't have to worry about your deal being open-ended. Most manufacturers' captive finance companies, like Lexus Financial Services, are very reasonable when evaluating the condition of vehicles at lease-end. The last thing that they want to do is nickel and dime lessees to death, make them mad, and possible cost their parent company a future sale. That would be penny wise and pound foolish. As long as your car is in decent shape at the end of your lease, you should be OK.

    Car_man
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    Prices Paid Forum
  • Hi vesines. If you need some tips on how to negotiate a c=good lease, make sure to check out the following article: 10 Steps to Leasing a New Car. Always remember that the selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Shop around and negotiate the lowest possible selling price that you can on this car and then have the dealer that you are working with use its "December to Remember" buy rate lease money factor to calculate its monthly payment. You should be able to get an idea of what sort of selling price you will be able to negotiate by visiting the following discussion: "Lexus ES 350: Prices Paid & Buying Experience". Lexus Financial Services' current buy rate lease money factor for this car is .00245 for consumers who qualify for its Tier 1+ credit tier. Let me know if you have any other questions.

    Car_man
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    Prices Paid Forum
  • I'm considering leasing the ES250 however there doesn't seem to be any special pricing/rates for the December to remember event. Does anyone forsee any incentives for January?
  • Since this forum tells about prices paid by others I am wondering where to find the price for New ES 350 2007 with Premium package & Navigation. I am in Northern Californiaand would appreciate if someone can post dealershis with good deals.
  • My current Lexus lease ends Jan 2. I'm considering the new ES350. (my 4th Lexus) What is the best current money factor rate (tier 1), 36 month residual (15k per year) and cap reduction I should be working with for a loaded ES 350 est. $44AK msrp).
    Ron
  • I have heard that you can really get a good deal leasing or buying a car in January or even better in February. Has anybody heard the same thing??? Appreciate any response. This dealers are getting to me. They advertise one thing but when you get there well that car usually they don't have and the price has jumped $200.00 Man I am sick of them. I hate buying/leasing a car. I feel like I am at the flea market even there I can't bargain. I need help
    Thanks
  • Hi atlantarose. Lexus is providing lease support on the 2007 ES 350 in January. If you were to lease a 2007 Lexus ES 350 through Lexus Financial Services right now, its buy rate special lease money factor would be around .00245. Keep in mind though that you have to qualify for LFS' top credit tier to receive this special factor and that Lexus' lease program varies slightly by region.

    Car_man
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    Prices Paid Forum
  • Hi mblover2. This forum is for community members to discuss leasing a Lexus ES 350. Try looking here for feedback on what sort of price you should pay for one: "Lexus ES 350: Prices Paid & Buying Experience".

    Car_man
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    Prices Paid Forum
  • Hi Ron. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 ES 350 with 15,000 miles per year are .00245 and 55%, respectively for consumers who qualify for its Tier 1+ credit tier. Lexus' lease program may vary slightly by region. For information on what sort of selling price to expect, check out the following discussion: "Lexus ES 350: Prices Paid & Buying Experience".

    Car_man
    Host
    Prices Paid Forum
  • Car Man,

    HELP!

    I’m new to this forum and looking for some guidance on leasing vehicle.
    I’m looking for any advice on how to terminate my current lease and either buy or lease new car. I have two leased cars, 2004 Lexus ES 330 and 2004 Honda Civic LX. ES330 with 60 month lease term with 23 months left on the lease with monthly payment of $523.69 (tax included) and Civic LX with 36month lease term with 7months left of lease with monthly payment of $247.89.
    I don’t have residual value on either vehicle…..I’m really not a savvy buyer/leaser….
    Also I just received a flyer from Jim Falk Lexus in Beverly Hills CA on special weekend promotion that they will buy all leased vehicle regardless of condition, terms, mileage, etc.
    Is this another sales gimmick? Would they both of my lease and work out great deal?

    Would any other dealer would consider buy out my lease and buy or lease new car or is this special promo?

    I really want to replace both cars with Infinity G35 Coupe (buy) and Audi A4 (lease current promotion).

    HELP!!!!

    Thank you!
  • If you are interested in an Infinity or an Audi why are you in the Lexus lease message center?
  • what should the money factor be on 07 es350? this is for a 36mth lease with 12k mi. do money factors change month to month?
  • Welcome vegasjoo. Unfortunately, as you have found out 60 months is way too long to lease a vehicle for. Most consumers who lease for 60 months end up wanting to or needing to get out of their lease early. I am sorry to say that it is usually fairly expensive to get out of leases well before their scheduled end dates. In order to do so, you need to purchase the vehicle that you are currently leasing from the bank that you are leasing it through. It often turns out that it costs more to do so than your vehicle is worth on the open market. Furthermore, many banks expect consumers who end their leases early to still make all, or at least the depreciation portion of their remaining lease payments. As you can see, this can get very expensive.

    You can determine approximately how much it will cost you to get out of your current lease by comparing its purchase price to its value on the open market at this time. You should place a call to the bank that you are leasing your vehicle through to find out its exact price. Once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". Some of our most knowledgeable community members often visit that discussion they are often kind enough to give others their opinions on vehicles' values. Don't forget to check to see if you are still on the hook for your remaining lease payments. The difference between your leased vehicle's current value and how much it will cost you to buy it plus any remaining lease payments that you are obligated to pay will equal the cost of getting out of your lease right now. You may find that you are better off waiting until you are closer to the scheduled end of your lease to get another new vehicle.

    Car_man
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  • Hi oscar8. Lexus' current lease program is only scheduled to run through February 28th. It is not currently providing any lease support on the 2007 ES 350. As a result, if you were to lease one through Lexus Financial Services, you would have to use its standard lease program. LFS' buy rate standard lease money factor varies slightly by region, but it should currently be around .00275 for consumers who qualify for its "Tier 1+" credit tier. Its current 36 month, 12,000 mile per year residual value for the 2007 ES 350 is 57%.

    Car_man
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    Prices Paid Forum
  • Does anyone have the money factors and residual for March on the ES350?

    36 months 12k miles
    48 months 12k miles
  • Anyone have these numbers?

    Does anyone have the money factors and residual for March on the ES350?

    36 months 12k miles
    48 months 12k miles
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi rwarrencfp. Unfortunately, Lexus is not providing any lease money factor support on the 2007 ES 350 in March. As a result, if you were to lease one through Lexus Financial Services right now, you would have to use its standard lease program. Its buy rate standard lease money factor varies slightly by region, but it currently should be around .00275 for all terms for consumers who qualify for its "Tier 1+" credit tier. Its current 36 month, 12,000 mile per year residual value for the '07 ES 350 is 57%. Its residual for a 48 month, 12k lease should be 47%.

    Car_man
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    Prices Paid Forum
  • Thanks Car_Man!
This discussion has been closed.