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2013 and earlier Lexus ES 350 Lease Questions

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  • closer43closer43 Posts: 11
    My monthly payment is $498, lease term is for 36 months, 12,000 miles a year. I used money from my trade in of $5,000 to cover tax,title etc. I read that it is not a good idea to put so much down on a lease, but I wanted to get the payments down and I don't put alot of miles on the car. As in the case of the car I traded in, it was also a lease and worth quite a bit more because of low mileage, etc. Thanks again for your forum with so much information.
  • zona330zona330 Posts: 1
    Hi Car_man,

    I have two questions for you, most helpful of board moderators:

    What is the highest Lexus goes on annual mileage for a lease?

    Could you tell me the buy rate on the MF and the residual value % for a 24 month lease on a 2007 ES 350 for the highest they will go on the miles? 20K is perfect.

    Thanks,
    Zona330
  • closer43closer43 Posts: 11
    I picked up may car today. The payments were actually 458.00 a month not 498.00. Wanted to make sure I had that correct in case anyone else was looking for a Lexus ES350 in Florida. I had the best experience I've ever had buying a car with Jack who is the internet dealer at Wilde Lexus of Sarasota. No surprises everything exactly what we agreed to. Highly recommend them and they gave me a great deal. See previous thread. Thanks
  • sparky33sparky33 Posts: 5
    Can anyone advise?? Thanks in advance.

    I might not have enough info to get an answer - I've been to my local dealership (where I leased an ES330 39 months ago which I'm selling to a 3rd party) and also have talked to a dealer on the phone - 200 miles away.

    The local guy said:
    2007 ES350 smoky granite w/black interior & premium package
    MSRP (edmunds)= 36665
    sticker at dealership = 38800
    selling price = 36202
    48 months / 12K
    pmt = 527.50 with 2334 drive-off (no sec dep / no cap red)
    or pmt = 551.76 with 1334.76
    those drive-off figures include 1st month + tax (.0275%) + tags + dest chg -- not sure what else or exact breakdown

    Talked to guy in NJ (200 mls away so that's a pain)
    same car
    same 48 mo / 12K
    499 pmt / 1453 drive-off (1st month + 600 bank fee + 155 tags + 199 doc fee)

    Before I tell the local guy how low he needs to go to beat the distant guy I wanted to see if that 499 / 1453 sounds okay. Let me know if I need to give more info. I don't know the residual either is using. My credit is top tier. Thanks for any advice.
  • telman1telman1 Posts: 4
    Just started looking for ES350 base w/Nav $41,822 MSRP. Have been quoted $37,122 cap (Seems too high), $2000 down, 15K-3x
    drive off 550.65 plus OC tax= 593.33...do not have the time or patience to deal with all the dealership drama.. What is the right lease price, anyone have a pleasant experience in Orange County, CA
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome, closer43. Thanks for the kind words. Congratulations on getting a good deal on your new car. You did a great gob negotiating. Enjoy your new ride :) .

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello znelson32. According to the latest information that I have seen, Lexus Financial Services' buy rate lease money factor and residual value for a 48 month Tier 1+ lease of a 2007 Lexus ES 350 with 15,000 miles per year are .00275 and 44%, respectively. This car's monthly payment will depend upon what its MSRP and selling price are. If you provide me with these numbers I will gladly run a sample lease payment for you. You may be able to get an idea of how much you will have to pay for this car right now by visiting the following discussion: "Lexus ES 350: Prices Paid & Buying Experience".

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey Zona330. The highest mileage allowance that Lexus Financial Services publishes residual values for is 15,000 miles per year. One can lease a vehicle through it with more miles than this, but in order to do so they have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until the end of your lease and have to pay an excess mileage penalty.

    According to the latest information that I have seen, Lexus Financial Services' buy rate lease money factor and residual value for a 24 month lease of a 2007 Lexus ES 350 with 15,000 miles per year are .00275 and 60% for consumers who qualify for its Tier 1+ credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi sparky33. Why is this car's sticker price so much higher than the MSRP that is listed for it on this site? Does it have dealer installed equipment or ADM (Additional Dealer Markup)? This prices should be pretty close. It is important to have the MSRP right, because the selling price that you were quoted either represents a $2,000 discount or almost no discount at all. There's a big difference there. Either way, I personally would try to get a selling price that is $500 to $1,000 over dealer invoice on a 2007 Lexus ES 350 right now. I suspect that the price that was used to arrive at the first quote you were given is higher than that. The second quote looks better, but it is difficult to say what selling price it is based upon. You should really find out this car's exact MSRP and selling price, along with the money factor that is being used to calculate its monthly payment before finalizing your deal.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi telman1. The car that you are interested in has a spread of around $4,700 between its full MSRP and dealer invoice price. That is actually the exact discount that you are being given on it. This looks like a very good price to me. Just make sure that the dealer you are working with uses Lexus Financial Services' buy rate lease money factor to calculate your monthly payment and you're in business.

    Car_man
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  • orlandofl0orlandofl0 Posts: 3
    Car_Man:
    I am having trouble with the lease calculator. What I would like to know is what the payment should be given all of the same info for closer43 (same car and lease details) except for a no-money or minimum down payment. Would it just be about $5000/36 (around $140) more per month?

    Thanks.
  • hill0523hill0523 Posts: 2
    I am in the market for an ES350. I could lease it anytime in the next 5 months. Will there be any benefit in price or lease terms by waiting? Thanks
  • lukesdaddylukesdaddy Posts: 11
    closer43,

    Just for clarification as I am in Orlando and considering a lease on the 350, you put $5,000 down and are paying $458/month? For 36 months and 12,000 miles and this was on a vihicle with a 37k sale price?

    Please confirm if I read your post correctly.

    Thanks,
    Lukesdaddy.
  • lukesdaddylukesdaddy Posts: 11
    To anyone that can help,

    Does anyone know what the spread between MSRP and invoice is on a base model 08' ES? It is not on the Edmunds yet. Also do we know what the current money factor and risdual are for excellent credit rating?

    Thanks,
    Lukesdaddy
  • dengeldengel Posts: 2
    I can lease a 2007 Lexus ES 350 Premium Package (No NAV) for $553 a month. My terms are 36 months, 15,000, $1000 downpayment, CAP COST=$33,404, Residual=$20,188.

    I can also lease a 2008 Lexus RX 350 Premium Package Plus 2WD (No NAV) for $568 a month. My terms are 36 months, 15,000, $1,000 downpayment, CAP COST=$37,360, Residual=$23,237.

    What do you think of these two deals? How much/can I get the dealership to lower the monthly payment?
  • dengeldengel Posts: 2
    I can lease a 2007 Lexus ES 350 Premium Package (No NAV) for $553 a month. My terms are 36 months, 15,000, $1000 downpayment, CAP COST=$33,404, Residual=$20,188.

    I can also lease a 2008 Lexus RX 350 Premium Package Plus 2WD (No NAV) for $568 a month. My terms are 36 months, 15,000, $1,000 downpayment, CAP COST=$37,360, Residual=$23,237.

    What do you think of these two deals? How much/can I get the dealership to lower the monthly payment?
  • heidibratheidibrat Posts: 2
    Hi , i live in roseville, CA and this is the best deal i have found on leasing a new Lexus ES 350 (a base model with leather, moonroof, no nav system, no park assist, etc. pretty basic)

    36 months, 15,000 miles per year
    $925 down
    $588 per month after taxes (of 7.25% in CA)

    What do you guys think??? (FYI - my credit score is around 775)

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi orlandofl0. I believe that closer43 negotiated a selling price of $37,200 on an '07 ES 350 that has an MSRP of $41,322. Using these prices, I estimate that your zero down, pre-tax monthly payment for a 36 month lease with 12,000 miles per year would be around $557.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi hill0523. As I always say, it is difficult to predict exactly what manufacturers will do with their future lease programs. If I had to make an educated guess, I would say that Lexus' will continue its lack of lease support on the 2007 ES 350. If that is indeed what happens and its residual values fall as the model year moves on, this car will become progressively more expensive to lease. One of the best times to lease a new Lexus is during its "December to Remember" sales event, but that is a long time from now.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Lukesdaddy. I don't believe that Lexus has officially announced its pricing for the 2008 ES 350 yet. If It has, I haven't seen it. As far as this car's lease program goes, Lexus is not currently providing any sort of lease support on the 2007 ES 350. I suspect that this will be the case with the 2008 model as well. If so and you were to lease one through Lexus Financial Services, you would have to use its standard lease money factor. Its current buy rate standard lease money factor for consumers who qualify for its "Tier 1+" credit tier and pay a security deposit at lease signing should be around .00275.

    Car_man
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