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2013 and earlier Lexus ES 350 Lease Questions

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  • geojregeojre Posts: 12
    Can anyone provide the April Residuals and money factor on an ES350 without ultra premium for a 36mo 12k lease. I live in Pittsburgh PA
  • Here ya' go...

    '08 ES 350 (non Ultra-Luxury)
    36 Mo – Residual 52% – .00125
  • colslickcolslick Posts: 26
    geojre, saw a lease table on roadfly which gives 52%/.00125 for 36/15k, which would put 36/12k at 54%/.00125. I think, good luck.
  • Forgot to mention that you need to add 2% to the residual to adjust for 12k annual miles, therfore the vehicle carries a 54% residual.
  • hello
    i am in dallas tx and was offered this weekend a lease for es350 with nav package
    36 months 15k , $720 first payment (first month and tax etc)
    monthly is 590
    msrp was around 42500
    sale price was 38300
    are those good numbers?
    thanks in advance
  • philz46philz46 Posts: 3
    I just got a price quote on a Tier 1 - Sign N Drive lease on an ES350 from PA dealer. Here are the details:

    List price: $42025, selling price $3799, dealer cost $37930.80
    Cash down $3500
    Inception fee $694.94, excess /equity $2805.06
    Residual value $21853 (52%)
    Mileage adjust $840.50
    Mileage adjust +2%
    Annual miles 12000
    Discount/Buy Rate .001350

    Not having shopped leases in a while, how does this compare?

    Thanks,

    Phil
  • philz46philz46 Posts: 3
    I forgot to put in the price $449.49 + 9% lease tax, $489.94.

    Phil
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Great answers, ocautoseeker. It's great to have informed community members like yourself who are able to answer questions for others. Thanks for the help. Keep up the good work ;) .

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • car2008car2008 Posts: 5
    Following is the deal in MA:
    ES350 navi + prem plus + few extras
    MSRP: 42314 (new price this week)
    invoice: 37520
    sale price = invoice price
    no cap reduction
    36mo/12K
    Residual: 23117
    $543 per month (incl 5% tax)

    Is this a good deal?

    Thanks!
  • ocautoseekerocautoseeker Posts: 425
    Is the dealer rolling in your 1st mo payment, acquisition fee + dmv fees, or are you paying them at signing?

    Reason I ask: Based on LFS's current numbers, with the numbers you provided, that lease (including tax) should have you at monthly payments of $499.67. Now, if you capped all of the above into your lease payments so that $0 was due at inception, then $543 sounds more reasonable.

    If this is not the case, they probably inflated your rate. Be sure that they are utilizing the base rate money factor of .00125.
  • car2008car2008 Posts: 5
    The drive off amount is roughly $850, incl 1st month payment and Title/Reg fees.

    The money factor they used is 0.00155 but they do get evasive on that.

    How do we know the current LFS MF and how to convince the dealer of that?

    Thanks!
  • colslickcolslick Posts: 26
    I've had 2 dealers quote leases with higher MF than the .00125 Apr rate . I don't know if the May rate went up or they are inflating for profit. Does anyone have the May rates for 36/15K. Also they quoted me an msd rate of .0000875 per each deposit instead of .0001. Is this an LFS change or another profit pool for dealer? I know BMW lowered theirs some time ago.

    Thanks for any help here.
  • car2008car2008 Posts: 5
    Hello car_man or anyone who has insight into this,

    Lexus Dealership offers couple of plans with a ES350 lease:

    LexusCare - prepaid service plan for all routine maintenance @ 33 per month.
    This is about $1580 over 4 years. Is this worth buying? (is the cost of maintenance
    recovered by this??)

    Excess wear and tear coverage plan - to cover scratches or dents or other wear and tear etc upto $5000.
    The cost is $16 per month or $800 over 4 years.

    Do you recommend buying any of the above plans?

    Thanks in advance for your help.
  • nydesi80nydesi80 Posts: 5
    ES 350 w/nav (no mark levinson)
    MSRP: 42,xxxx
    Selling Price: 37,500

    10k/36months
    Due at signing: $2674.58 (this include DMV, first payment, taxes, bank fee and registration)
    Monthly Payment: $470.76

    12k/36months

    Due at signing: $2714 (this include DMV, first payment, taxes, bank fee and registration)Monthly Payment: $481.96

    Money factor they are using for both leaes is .00120. Is there any incentives that they have they can get or is this as low as Im going to get?
  • jamest2jamest2 Posts: 1
    I'm picking up my Lexus ES 350 on Tuesday, and I'm debating whether or not to buy the Lexus maintence package for $1,400.00. I'm leasing the Lexus for 3 years. It covers an oil change @ every 5,000 miles + the major tune-ups at 15, 30, and 45,000 miles. I'll probably return the car when the lease is up. Do You think that it's worth it buying the package.
    Thank You,
    James
  • ocautoseekerocautoseeker Posts: 425
    Revised rates for May:

    2008 Lexus ES350 Sedan (non-Ultra Luxury)
    24 M – Residual 58% – .00085
    36 M – Residual 52% – .00085
    48 M – Residual 43% – .00125
    60 M – Residual 34% – .00225

    Residuals assume 15k annual miles. Add 2% for 12k annual mile, and 3% for 10k annual miles.
  • moecalmoecal Posts: 3
    Should I apply for financing through LFS before I ask for lease quotes from dealerships? I would like to know if I am in the Tier 1 category before I start negotiating.
  • colslickcolslick Posts: 26
    Thanks (again) ocautoseeker, This lower MF for May makes about a $25/mo lower payment than Apr rates . Now to decide between M35 and ES350. On a 15K lease gas is $42/mo less w/ES350!!!
  • ocautoseekerocautoseeker Posts: 425
    Do you know if your credit score is over 720? You can buy credit reports and scores from any or all of the three major credit bureau's on-line. It's really cheap, and it's good to know where your credit stands, even if you're not purchasing a car.

    The base rates listed for the ES assume that the lessee qualifies for LFS's Tier 1 + credit tier, which is currently 720 FICO or higher. If you're between 700-719, you'd be considered Tier 1.
  • ocautoseekerocautoseeker Posts: 425
    Yeah, that has been the major drawback to the M35 - it's lack of fuel economy (city mainly). It's tuned more for performance rather than for quiteness and comfort like the ES.

    Don't get me wrong, they are both great cars, but it will probably come down to where your loyalty falls... Toyota or Nissan?
  • moecalmoecal Posts: 3
    According to Experian, I have a 770... but I've been told by other dealerships in the past that your FICO is not the same score used when purchasing a vehicle. Below is the quote I got yesterday through the Lexus Roseville, CA Internet Manager:

    Premium Plus w/Nav. 12k mi./yr.
    MSRP $42,534
    Cap Cost: $38,818 (he says this is invoice)
    Residual: $22,969 (54%)
    .00155 Money Factor (told me that's all Lexus offers and he can't go any lower)
    Drive off: $1,047.85

    .
  • ocautoseekerocautoseeker Posts: 425
    Don't worry, at 770 you'll qualify as LFS's tier 1+. If anything, your score will most-likely be higher at the dealership.

    I recently posted the may numbers so check those against what the dealer is quoting you. At .00155, he's definitely marking up his rate to build profit into the deal. It's certainly not illegal for him to do that, but with your excellent credit, you deserve the buy rate money factor.

    If they won't utilize the buy rate money factor, find another dealer - simple as that. There is nothing wrong with letting him know that you know the numbers. I always advise prospective buyers to be firm, but be polite. He needs the deal more than you, especially when there is competition - remember that.

    Double check his invoice against Edmund's or KBB. His invoice will be off about $400-$500 as it accounts for a regional advertsing fee.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi car2008. I definitely would not purchase a pre-paid maintenance contract on a lease. All I ever do in terms of maintenance on leased vehicles is change the oil every 3,000 miles or so, usually more on today's vehicles, and rotate the tires once or twice. Any maintenance on top of that is a waste because A) you won't have the car for that long and B) it's not yours anyhow.

    Unless you are really rough on your cars, I personally would pass on the excess wear and tear coverage as well. Most manufacturers' captive finance companies are very reasonable when evaluating the lease-end condition of vehicles that are being returned. It doesn't make sense for an automaker to nickel and dime a lessee to death and risk making them mad enough that they won't purchase or lease another vehicle from them.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi nydesi80. The .00120 money factor that you were quoted for a lease of an '08 ES 350 is as good as it gets. Just make sure to negotiate the lowest selling price that you can on the car that you want, making sure to take advantage of the $1,000 owner loyalty cash that is currently available on this model if you are eligible for it.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • moecalmoecal Posts: 3
    Are the money factor rates national numbers? The internet manager I'm working with says that the money factor for the Western Area is .50 higher, and doesn't vary with each model.
  • Hello. Brand new here, so not sure about all the money factor, cap cost, and residual value calculation. I wish there is a way to use a calculator to find out what the monthly payment will be. Anyway, called around dealership in my area, asking for a quote on downpayment and monthly. Mission Viejo quoted:

    - $2000 (net cost when I leave parking lot)
    - $399 /mth (everything included)

    Is this a good deal on lease of ES 350 non navigational?

    thanks for help
  • jpackeljpackel Posts: 4
    Tier 1+ should be .00110. The security deposit is .0008.. Lexus changed this around 1 1/2 years ago. If you are a current ES client through LFS, you should also be getting $1000 rebate if you are going back to another ES.
  • jpackeljpackel Posts: 4
    What MSRP is the car. What does the $2000 consist of? Are you sure it isn't 2000 plis fees? How many mths is the lease, how many miles per year?
  • jpackeljpackel Posts: 4
    Also remember the sales person has a family to feed and deserves to make money since he or she is providing a service for you. Invoice is around 37500. Be a human and let the poor sole make a few dollars. Do you negotiate when you go out to dinner? No you don't.. Why, because you are provided a tangible item and a service.
  • ocautoseekerocautoseeker Posts: 425
    Don't believe I ever made a comment that insisted on a zero profit deal.

    Buying a meal and buying a car are not fair comparisons.

    A volume (near luxury) vehicle like the ES is gonna' fleet out at $500 or below all day long - anyway you look at it, it's a mini for the sales guy. As a salesman (which I'm guessing you are), you know that there aren't many vehicles in the market nowadays that can hold substantial gross. Blow 'em out, bonus out - that puts food on the table on a much more consistent basis than trying to nickel and dime a well-educated buyer.

    If customer is savy enough to ask around for the captive numbers and has a strong bureau, as long as his deal is reasonable, wrap it up.
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