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Lexus LS 460 Lease Questions

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  • Try ray catena in north new jersey. I bought my lexus in Phila. It wasn't very hard to get 8k off of msrp. My msrp was 76800. not including the wheels that retail for 2300 plus installation. I got the wheels for 800 installed. Point is you can do better than 8k off msrp.
    charlie
  • On a SWB, there's about $8400 in front-end profit. $7500 off MSRP is a fantastic deal, given the vehicle doesn't have any additional aftermarket items like chrome rims, tinting, etc... those should be negotiated seperately.

    Are you leasing it? Let me know if you want me to run the numbers for you?

    What's the MSRP, $68,705?
  • traubetraube Posts: 28
    MSRP is 72030-includes nav-mark levinson and comfort pkg
  • Get me the VIN and I can pull the invoice for you (if you want), but as stated above, $7500 off is a great deal on a flagship luxury car.
  • Have a 2005 GS 300 that is coming off lease April 1. Want to trade up to a LS460-L (fully loaded) and looking at 36 months, 15,000 miles.. no $ down-- just the usual drive offs-- any idea on what I should expect to pay per month?

    Am a little concerned though by what I am hearing about the LS460's ability to handle bad weather-- snow in particular... the GS AWD was fine (I live in the NYC area) but saw several LS's and BMW 750 stranded last week when we got hit here with a late in the day snow storm. Any counsel on this.. IS there an AWD LS 460 in the future.. should I wait? or possibly look at the Audi A8 or Mercedes 4 matic? ">
  • eights38eights38 Posts: 137
    jdm1114 - The Lexus LS460 is a great car and I believe that Lexus will introduce an all-wheel drive shortly. However, if you are in need of guidance and advice, I would highly recommend the Mercedes S Class. The car drives very well, is available with a 4-Matic (AWD) option, carries the prestige of the Mercedes brand, and most importantly, it was recently redesigned and is one of the most beautiful vehicles on the road (in my opinion). If you were interested in purchasing your next car, I would recommend the Lexus due to the brands long-term reliability. Since you are leasing, I would highly recommend the Mercedes over BMW and Audi. The BMW 7 Series is an amazing car, but the styling is scheduled to change shortly and is not available in AWD. The Audi A8 is a great car with unparalleled interior refinement and the Quattro all-wheel drive system, but reliability is questionable and resale values are terrible (this impacts the lease because your depreciation expense would be quite high). If you need more help or advice, please feel free to email me.
  • jdm114,

    Lexus' current buy rate for the LS460-L is .00245 and carries a 48% residual assuming a 36 month/15k-mi/yr lease term. Understand that rates can and very well may change in April when you're ready to lease. However, with the current numbers, I can give you a ballpark.

    Assume a fully loaded L around $83,600:

    I don't know how aggressive dealer's will be in NYC, but I do know they've been less aggressive on the LWB than the SWB. Let's just say you get $5k off, and they cap the cost @ around $78,600, you'd be looking at pretax monthly payments of around $1360. This figure does NOT include Lexus Financial's acquistion fee of $600, so you'd have to pay that as part of your drive offs, or it can be capped into your payments. You'll also pay 1st month + dmv fees, and possibly a security deposit of $510. Typically, Lexus will waive the SD for those that qualify for it's tier1+ credit.

    Hope this helps.

    As for the other vehicles, they all have their pros and cons as previously mentioned. I do like the S-class Mercedes and as also previously mentioned, it has AWD, but now you're looking at a $100k vehicle!! The current lease programs are horrible through Mercedes currently. You would definitely want to shop a secondary lender if leasing an S-class.
  • I'm looking to lease a car for the first time. Dallas,TX. I've read that .00245 is the current rate. Is that really the lowest rate for those of us with the best credit scores? I was hoping for something lower. Is Lexus Financing who most people use? or should I look for a better deal from another leasing company?
  • You can compare rates at leasecompare.com.

    Btw... the lowest rate I've seen LFS publish on an LS in the past year was .00230.
  • gryangryan Posts: 35
    Do you think multiple security deposits is the way to go with a lexus lease?

    how about paying all payments in a one pay program.

    The dealer offered $7800 off MSRP of 67805
  • I do not like monthly payments, so I was going to buy the vehicle outright. But they offered me the prepaid lease which I calculated had an interest rate of 4.5%. The initial value of the vehicle over the 36 months of the lease was 44K (they subtracted my trade in form this), all going to disappear due to depreciation. When this came up, it was my first lease, so I calculated the amount I was payinng over time several ways, and finally concluded that I was paying 4.5% for borrowing the money that was going to disappear anyway, instead of using my money. At least that is the way I looked at it. If I had bought the vehicle, I would have to have come up with 80.5 K, and there would have been a lost interest opportunity there as well, so I considered it a wash, and went for it. One benefit was that I paid tax on the 44K, not the 80.5 K, which here in CA is (gulp) 8.5%. Would I do it again--depends on the prevailing interest rate, and whether I think I can do better investing the funds. If so yes, if not than no. At 36 mo, I can still purchase the vehicle if I wish, and I may, since I keep most of my vehicles 50k miles or at least 5 yerars, but again, it depends on the conditions of the market then. And how wealthy or unwealthy I am feeling.
  • I'm bummed... dealer is telling me MF = 0.00325 from LFS. That is with my excellent credit. Is this BS?
  • Looks like a great deal! They were very aggressive on the cap cost! The base rate mf is .00245 for LFS Tier 1+ credit, so at .00255. you're either below the required FICO for the base rate or they marked it slightly.

    Either way, the deal looks good... quetion them about the rate before signing, but if they don't budge, know the deal is still worth taking.
  • South Florida Market:

    Here's the car:
    LS460 (short)
    -Comfort pkg
    -Navi/Mark Levinson
    -Intuitive Parking Assist
    -One Touch power door closers
    List $70,835.00

    Here's the deal:
    Cap cost: $61,874
    Money Factor: 0.00255
    Residual 51%
    36 months
    15,000 miles
    $1875 due at signing
    $1053 a month including tax

    Should I sign off on this deal?
  • The rates I posted are the current LFS rates for Feb. Either your dealer is lying or you just so happen to live in a region that is not offering any lease support on the rates. My leasing source is out of the midwest, but typically the numbers always jive on a national scale.

    Tell them that you were quoted a .00245 buy rate from another dealer and see what they say.
  • gryangryan Posts: 35
    i also was told the factor was .00245 and as a previous customer i could get.00235 you can also put down 9 payments or as they call them multiple security deposits. this would lower the money factor to around .00175 then your payment would be much lower and you get the 9 payments back at the end. i did this with my 2004 ls 430. you may be able to get down to grand per month
    i do feel that $9000 off msrp is great my dealer offered $8000 and i really had to push for that
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi gryan. Making multiple security deposits on a Lexus is a much better way to reduce your monthly payment than making a capitalized cost reduction. Lexus Financial Services provides a .00010 money factor reduction for each additional deposit that lessees make, up to a maximum of nine. If I was in the market for a Lexus, I definitely would consider going this route. You're definitely getting a better rate of return here than putting your money in bonds, CDs, or a savings account right now. LFS also has an advance payment option on leases. It provides a money factor reduction of .00100 for consumers who pay for their entire lease in advance.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    For those of you who are interested, I believe that Lexus Financial Services lowered its standard lease money factor, what you would have to use to lease an LS 460 right now, to .00235 for customers who qualify for its top credit tier at the end of February. This may vary a little by region though.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • rorserrorser Posts: 4
    Say, I'm being told entirely different things by two Lexus dealers. One says multiple Security Deposits means multiple monthly payments, the other says $500 per Sec Dep. That is a big diff. If I make 9 X $500 vs. 9 X $1,400 up front to reduce my money factor. Who is correct? Thanks. R
  • gryangryan Posts: 35
    I am told it is the equivelent of your monthly payment rounded up to nearest $25 of course by doing it your payment will go done from 1400 because the money factor will now be lower, hope this helps. one other thing is NY does not allow this.
    Good luck
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