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Lexus LS 460 Lease Questions

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  • tonym2tonym2 Posts: 5
    I am about to lease a new 2008 LS460 to replace my current 2005 LS430 whose lease is expiring in a month. Does anyone know the current ResidualValue (36 mo and 48 mo) and lease factors are for someone with Tier 1+ credit? Especially with the declining interest rates. I live in Southern california. Thanks in advance.
  • ocautoseekerocautoseeker Posts: 425
    2008 Lexus LS460 (SWB)

    36 – Residual 50% – .00225
    48 – Residual 40% – .00225

    Residual values assume 15k annual miles.
  • tonym2tonym2 Posts: 5
    Thanks a lot OCAutoSeeker! I have a follow-up question...

    I am thinking of pre-paying for more miles (18K/year, rather than the standard 15K/year). 2 related questions:
    (1) Is the extra amount charged (for the 3K miles/year) added to the Capitalized Cost, or deducted from the Residual Value?
    (2) What is the cost (cents/mile) for pre-bought miles?
    Again, thanks in advance.
  • ocautoseekerocautoseeker Posts: 425
    Pre-paid miles are .15/mi as opposed to .25/mi thereafter.

    It depends on how they want to structure the lease - but typically, the residual value will be readjusted for the additional cost of miles so that the vehicle will reflect a more accurate "market" value at lease-end.

    Assuming 18k, the residual on a 36 month term should drop to 48% (from 50% based on 15k).
  • kyfdxkyfdx Posts: 28,746
    I'm not sure how Toyota does it, but I have an example from Honda...

    They don't have lower residual percentages for mileage allowances higher than 15K/yr.. But, if you wanted 18K, and the charge is $0.15/mi., then they would deduct $0.15/mi. from the residual. $0.15 X 9000 mi. = $1350.. So if the residual for 3yr/45K were 50% of $70K, then the new residual for 3yr/54K would be $35K - $1350 = $33,650.

    I think this is the way most captive financial companies do it. I only know BMW and Honda, for sure.

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • ocautoseekerocautoseeker Posts: 425
    Correct - that is exactly how they figure it. It just so happens that the math dropped the residual value 2% and I didn't feel like writing out a math equation. :)

    Thanks for your added support.
  • leo7leo7 Posts: 3
    Hi wkalexand,
    I am in the market for LS460 in NJ.
    Your deal looks pretty good.
    What dealership was that?
    Thanks.
  • my friend just got a new LS460 $68k version with $0 down 12k miles per year for $1000/month on a 36month lease...let me know if you're interested
  • tonym2tonym2 Posts: 5
    Just leased a new LS460 w/comfort, nav+ml, int park etc. = 72K msrp for 63,980 in So Cal. pre-paid miles are now 0.20/mi (up from 0.15/mi), it appears, due to a new policy from LFS in April.
  • nanronnanron Posts: 1
    My 2006 LS430 lease expires in Dec 08. I received a message from my dealer asking me to call about a lease forgiveness program. Any advice? Should I wait un
    til a couple of months before my lease expires or start talking with my dealership now. I leased the vehicle from one of the largest Lexus dealerships in the country. Nothing down, No SD and I pay 837 per month which was about $100/month less than another dealer.

    The LS 430 has navigation, smart access system, and comes with 15,000 miles/year with a 12 cent per mile excess mileage fee (which I will not exceed). It listed for around $64000 and was discounted to >$57,000 with a cap cost of around $37,000
  • topgun7topgun7 Posts: 409
    "Should I wait until a couple of months before my lease expires or start talking with my dealership now"

    If you want a new car now (and probably pay a little bit higher monthly price, then it is a worthwhile thing to explore). I leased an 02 LS430 and 02 SC430 before and now our lease for an 05 Mercede CLK55 will expire at end of June. Mercede also offers a pull ahead program when they will pull ahead 5 lease payments. I would imagine the Lexus program is similar. The thing to concern about is the lease payment for the new LS460.. Depending on the equipment level and dealer discount, you may be looking at a monthly payment higher than your current one. We end up didn't take advantage of the Mercedes pull ahead program, but we did talk to our salesman about some of the cars that we are interested in...
  • oghowieoghowie Posts: 30
    Does anyone have the LS460 MF and Residuals for June 2008? I'm looking to get the best deal for my dad.

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi oghowie. You never mentioned how long you want to lease this car for or what mileage allowance you need. For now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. According to the latest information that I have seen, Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a base 2008 LS 460 with 15,000 miles per year are .00235 and 50%, respectively for consumers who qualify for its Tier 1+ credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • oghowieoghowie Posts: 30
    Hi Car Man,

    Yes, we're interested in the 36month lease and my dad is a Tier 1+ customer.

    However, I just found out his lease isn't up until July, so I think I may have to ask you the same question next month.

    Thanks again for the info.
  • I haver never leased before and am interested in becoming educated. One thing I was curious about was if the lease payment relates to the amount of use, i.e. depreciation, would it mean that by leasing a couple year old certified used Lexus LS, say 2007, the difference between the cap and the residual would be much less and therefore the lease payments would be a lot lower than if you went for a new model lease.
  • woppenhewoppenhe Posts: 61
    It depends on howw good a negotiator you are, but it should work out that way. In leases you are paying for the depreciation and for the cost of the loan. The less of each, the better off you are.
  • alfealfe Posts: 4
    I wish to lease a 2008 LS 460 with Navig/Mark Levinson, comfort package, intuitive park assist, and automat power door close options. What have been the best deals in the Chicago area for a 36 or 39 month, 12 K miles/yr lease?

    alfe
  • I am in California and looking to lease an LS 460 I have always leased and bought with Fresno Lexus in the past. I am right in the middle so going to San Francisco or LA areas would not be a problem for me. I have quote from Interstate Auto Leasing for 1190 w/taxes a month with zero down. It is a 36 month lease with 15K miles a year and comes with the Mark Lev sound system upgrade. I want zero down because I am self employed and can get a tax write off the monthly payments but not the down payment. What have your heard about the best deals in California?
  • oghowieoghowie Posts: 30
    Hi,

    We're finally about to pull the trigger on a lease this month so could I please get the MF and residuals?

    We're looking at 3 yrs, 15k
    Tier 1+ Credit

    Thanks again!
  • topgun7topgun7 Posts: 409
    "What have your heard about the best deals in California? "

    I am living in the greater S.F. bay area and have been waiting for the 09. I think the residual will be better with the 09 and hopefully it may have some minor improvement (espeically the wind noise issue). Have you look into the multiple deposit program from Lexus Financial? I think they change the rule to allow 9 deposit with each deposit lower the money factor by 0.00007 (used to be each deposit lower the money factor by 0.0001). Should reduce your monthly payment by 80 to 100 or so...
  • oghowieoghowie Posts: 30
    Nevermind, got the info from LeaseCompare:

    2008 Lexus LS460 – 7/18/08
    24 Month – Residual 53% of MSRP – .00245 Base Rate
    36 Month – Residual 46% of MSRP – .00245 Base Rate
    48 Month – Residual 36% of MSRP – .00245 Base Rate
    60 Month – Residual 27% of MSRP – .00245 Base Rate

    2008 Lexus LS460 LWB – 7/18/08
    24 Month – Residual 50% of MSRP – .00245 Base Rate
    36 Month – Residual 43% of MSRP – .00245 Base Rate
    48 Month – Residual 33% of MSRP – .00245 Base Rate
    60 Month – Residual 24% of MSRP – .00245 Base Rate
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey oghowie. Just in case you haven't signed a lease on the LS that you're interested in yet, Lexus enhanced its lease program on it slightly on July 25th. Lexus Financial Services' buy rate lease money factor for it is now .00220 for consumers who qualify for its Tier 1+ credit tier. The residual values are the same.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Car_Man, can you update me on the latest money factor and residuals for 2008 LS 460 regular wheel base? I am looking to lease this weekend and take advantage of the model year close outs. Thanks.
  • tasltasl Posts: 1
    I am looking to lease a Lexus LS460 fully loaded version in Tennessee.
    Considering I am Tier 1 customer, how much should I consider to be a great deal for mw for 15000 miles/yr for 36 months long and short versions.
    Any advice would be greatly appreciated.
  • I sure can, bandj. Lexus Financial Services' lease program for this car varies by term and mileage allowance. You never mentioned what either of these variables are, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. LFS' current buy rate lease money factor and residual value for a 36 month lease of an '08 LS 430 regular wheel base with 15,000 miles per year are .00220 and a terrible 39%, respectively for consumers who qualify for its "Tier 1+" credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi tasl. I am sure that either myself or another community member would be happy to work up a sample lease payment on the car that you are interested in for you. However, in order for us to do so, we need you to provide the full MSRP and approximate selling price of the car that you are interested in. You can look up this car's MSRP and True Market Value in the New Vehicle Pricing section of Edmunds.com. You may be able to get an idea of how much you should pay for this car right now by visiting the "Lexus LS 460 Prices Paid and Buying Experience" discussion.

    Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2008 Lexus LS 430 long wheel base with 15,000 miles per year are .00220 and 39%, respectively for consumers who qualify for its "Tier 1+" credit tier and pay a security deposit at lease signing.

    You can plug the pricing information, along with the money factor and residual value into the formula that is outlined in the following article to get an idea of what sort of monthly payment to expect: Calculate Your Own Lease Payment. Or if you'd like, post that information here and I am sure that either myself or another community member will be happy to crunch some numbers for you.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Does anybody have the new numbers for October? Will it be cheaper to lease an 09 LS460 than an 08? Does Lexus have any specials going on right now? Thanks, this will be my first lease.
  • eights38eights38 Posts: 137
    viperxgtx2000,

    I believe that the money factor for a 2008 Lexus LS460 is 0.00265 with a 42%, 39%, and 32% residual for 12,000 miles per year and 36, 39, and 48 months, respectively. Add 1% to the given residuals for 10,000 miles per year and subtract 2% to the given residuals for 15,000 miles per year. I do not believe that Lexus has released 2009 LS460 lease rates.

    Matt
    eights38@gmail.com
  • Thanks for your response Matt. I am currently looking to lease a Lexus but do not want to deal with my local Lexus dealer because of how their service is.

    Does anyone know of any good websites that can negotiate a lease and deliver the vehicle?
  • tonym2tonym2 Posts: 5
    I have worked successfully with carsdirect.com. You go online and select your model and options, their price is shown online right away. If you accept it, they negotiate with a dealer and the car can even be delivered to your door (dealer dependent). Technically they are brokers, who have bulk deals with the fleet managers at dealerships. Hope that helps.
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