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Lexus LS 460 Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey ejed09. It's no bother at all. Lexus Financial Services' July buy rate lease money factor and residual value for a 36 month lease of a 2010 LS 460 RWD with 12,000 miles per year are .00175 and 52%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    The numbers for the AWD version of this car are exactly the same.

    Car_man
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  • ejed09ejed09 Posts: 5
    Super! Thanks again for the info Car Man!
  • ejed09ejed09 Posts: 5
    Hey Car Man:

    I received this lease quote from my local Lexus Dealer. Could you tell me if its a fair deal?

    48 month/ 12,000 mile Lease

    2010 Lexus LS460 AWD

    - MSRP $72,150
    - 928/month including tax, fees, ect (we have a 6% sales tax)
    - $5000 credit for my trade in
    - No money at signing (no down payment, sec. deposit, destination charge, ect..)
    - No first month payment (I will pay $928/month 47 times for 48 months of use)

    Many thanks again!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're welcome ejed09.

    I see that you are considering making a $5,000 down payment on your lease using the equity that you have in your current vehicle. There's nothing wrong with trading in your current car when you lease a new one, but you would be better off having the dealer cut you a check for any equity that you have in it. Consumers who make large down payments on leased vehicles risk losing part or all of the money that they put down if their vehicle is totaled in an accident or stolen and never recovered. It's much safer to go with a zero down lease.

    I would be happy to give you my opinion on this deal, but it would be much easier for me to do so if you provided me with this car's selling price first. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without this number, is is much more difficult to tell how large a dealer discount you are being given, and in turn if there is any room left to negotiate. Let us know what the selling price is and I'm sure that either myself or another knowledgeable community member will tell you what they think.

    Car_man
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  • ejed09ejed09 Posts: 5
    Hi Carman,

    Im not actually sure what the negotiated price would be. I got this quote from a friend of a friend, who only gave me a monthly payment (928 including all tax and fees). He claimed this was the absolute best deal he could give. It is hard for me to gauge how this deal compares to others, since most Lexus dealership don't seem to publish any "lease specials" on the LS460. I know from the link he sent me the MSRP is $72,055 and that he valued my trade in at $5000. I'm not sure if this can help you with your evaluation of the proposed deal. In any regard, thanks again for your help so far!

    Eric J
  • topgun7topgun7 Posts: 409
    Hello Car_man, I am interested in leasing an 10 or 11 LS460 in California for 36 months/12k mie per year. Can you post the MF and residual value of the vechicle? I am thinking about an LS460 with ML/NAV package.
  • Hey topgun7. Lexus Financial Services' December to Remember buy rate lease money factor and residual value for a 36 month lease of a 2011 LS 460 RWD with 12,000 miles per year are .00155 and 53%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    The numbers for an otherwise identical lease of a 2010 model are a less attractive .00210 and 49%.

    The program for the 2010 model is less attractive, but Lexus is providing $4,000 dealer cash on it right now.

    Car_man
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  • topgun7topgun7 Posts: 409
    Thanks Car_man for the 36 months 12k mi number. I just got a $1500 coupon from Lexus for the engine recall on our 08 LS. I was wondering what is the 2 yr 12K mi/yr MF and Residual? Zag.com has a couple dealer in our area (N. California) that will sell/lease an 11 LS460 for about $7600 below MSRP (MSRP 74665, sales price 66931).. I want to run some number to see how much more will a 2 yr lease number over 3 yr lease. Thanks.
  • You're welcome topgun7. I didn't know that Lexus is providing $1,500 coupons to owners who were affected by the engine recall. Interesting.

    Lexus Financial Services' December buy rate lease money factor and residual value for a 24 month lease of a 2011 LS 460 with 12,000 miles per year are .00155 and 60%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    Car_man
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  • topgun7topgun7 Posts: 409
    edited January 2011
    You're welcome topgun7. I didn't know that Lexus is providing $1,500 coupons to owners who were affected by the engine recall. Interesting.

    And those with extended warrenty get another 500.. I made the appointment in Feb to do the recall on my 08 but decided to sell the car instead.. I will let someone else worry about whether it is a good idea to have a rebuilded engine done by mechanics that is not specialize in it.. It will take about 1 weeks for the the valve spring replacement. This particular recall is costing Toyota quite a bit of money. I picked up a fully loaded M37 to replace the LS a couple weeks ago (The LS will cost about 930ish a month vs M37 for 590ish for 36 months 12k miles) and so far I don't miss anything from the LS yet.. right now I have a 3000 GM card earning offer by GM to use by end of Jan and a 1500 rebate from Lexus to be used before end of 12/11 and I have a 07 G35 that I can get rid of. So I am sure I will start asking more question soon. Thank you very much for your help..
  • Hello,
    I received this quote on LS460 AWD. I am looking for a base model with no options, but a couple of dealers state that it will be hard to find a RWD with no or little options. They say most are AWD with some options such as navigation.

    Here is the quote - wondering if this is fair.

    48 months with 10,000 miles per year.
    MSRP: $71910 (AWD, has comfort package, cold weather package, Navigation value edition, and Mats).
    Cap Cost: $67809
    Residual: 46%
    Money Factor: .00190
    Monthly payment: $1037
    Total due at signing: $2300
    Tax rate is 8.875% (NYC).

    That's all the info I got.... Any help at this forum would be greatly appreciated.
  • gkd2gkd2 Posts: 2
    Car_man, do you have the money factor and residual rates on the LS for March, 2011. My lease expires next week and I have to negotiate a new deal. Also, is lexus running any deals, rebates, etc i should know about on the LS??

    THANK YOU!!
  • nceencee Posts: 419
    edited March 2011
    Hi. Ok, so Fill in a few blanks on leasing please.

    - What if you are a traveling salesman and you know you'll put on more then 12, 15,000 miles a year?

    - Is purchasing the car at the end of the lease economical?

    - What extra do you pay to purchase the car after the lease is up?

    Or, if I can swing it, should I just purchase out-right?

    LS 460 11'

    Skip
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here's the information that you're looking for gkd2.

    Lexus Financial Services' March buy rate lease money factor and residual value for a 36 month lease of a base 2011 LS 460 with 15,000 miles per year are .00190 and 52%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    Other than $1,000 owner loyalty cash, I don't believe that Lexus is currently providing any cash incentives on leases of this car.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Skip. Consumers can lease vehicles with more than 15,000 miles per year. In order to do so, they need 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 lease-end and have to pay an excess mileage penalty.

    Whether it makes sense to purchase a vehicle at lease-end or not depends upon what condition it is in and what its purchase option price is.

    If you know that you are going to put a ton of miles on your vehicle, you may want to consider purchasing instead of leasing.

    Car_man
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  • gkd2gkd2 Posts: 2
    Thank you Car_Man! Does the term "buy rate" mean that that is Lexus's rate to the dealer or is it the rate I should expect to get. In other words, should i hold firm to negotiating the .0019 rate?

    thx!!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome gkd2. The term "buy rate" means that this is the lowest available money factor on this particular model right now. Dealers from time to time try to mark up banks' buy rates to add additional hidden profit to deals. This can usually be avoided by savvy consumers who know what their vehicle's buy rate is.

    Car_man
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  • tomone1tomone1 Posts: 1
    Hi there,

    Just looking for an update on April 2011 rates. I'm looking at a 48 mo lease and 15K miles per year. Any updates would be greatly appreciated.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    edited April 2011
    Here you go tomone1. Lexus Financial Services' April buy rate lease money factor and residual value for a 48 month lease of a 2011 LS 460 with 15,000 miles per year are .00180 and 41%, respectively for consumers who qualify for its top credit tier.

    Car_man
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  • Can anyone advise me on lease deals for May 2011- ie money factor, residual, etc...Any fixed lease deals on LS 460 for May? Thanks.
  • nceencee Posts: 419
    So purchasing outright seems to make the most sense for me.

    I hadn't paid much attention (Driving to damn much), but my 2008 Avalon (purchased 10/2009) has 65,000+ miles on it, in just over 16 months, and a few long trips coming up. I guessing at this rate, I'll have about 85 - 90,000 miles on it when it turns 2 years old. WAY to many miles per year to lease one.

    I'm going to consider purchasing a new Avalon Limited or Used LS 460.

    With the miles I put on, the Lexus would be great, but it will cost more over the long haul.

    Premium Gas, general maintenance will be more. Now the pricing for used LS 460's seems to be reasonable, which may be because of gas prices, or the number of LS's coming off lease.

    Oh well, sucks being me, but I will decide which is best:)

    Skip
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings dealseeker10. Lexus Financial Services' May buy rate lease money factor and residual value for a 36 month lease of a 2011 LS 460 with 15,000 miles per year are .00210 and 53%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    This money factor is enhanced to .00180 for loyal LFS customers.

    Car_man
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  • Am interested in December lease rate factors for 2012 Lexus 460 RWD. Money Factor and Residual for 36 and 39 months at 15,000 miles per year. Have seen no postings on the forum since May 2011
  • Greetings sunshine26. Lexus Financial Services' December buy rate lease money factor and residual value for a 36-month lease of a 2012 LS 460 RWD with 15,000 mies per year are .00160 and 54%, respectively for consumers who qualify for its top credit tier .

    The numbers for an otherwise identical 39-month lease are .00160 and 51%.

    Car_man
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  • Thanks Car Man.... Do you know what the residuals will be in January for the LS 460 RWD 36 and 39 months at 15, 000 miles??
  • You're welcome sunshine26. Lexus' current lease program is scheduled to run through the end of the year. It is difficult to say what it's January program will be like at this point, but it is very possible that it will not be as attractive as the program that is available through the "December to Remember" event.

    Car_man
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  • thbellthbell Posts: 15
    CarMan: Would you please advise me of the current Lexus Financial Services' buy rate lease money factor and residual value for a 36-month lease of a 2012 LS 460L AWD with 15,000 mies per year for customers who qualify for its top credit tier? Many thanks!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi thbell. Lexus Financial Services' current buy rate lease money factor and residual value for a 36-month lease of a 2012 LS 460L AWD with 15,000 miles per year are .00190 and 53%, respectively for consumers who qualify for its Tier 1+ credit tier.

    Car_man
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  • corradizocorradizo Posts: 1
    edited March 2012
    Hi,

    I've been looking to buy a 2008 cpo ls460 in the Chicago area. Something with nav/ml with 40k miles is asking 38ish. I'm thinking I can negotiate to 33k or better. Then I saw you can opt for a lease on these cars. What could I expect to pay per month on a 18k miles a year lease for 3 years if put nothing down? I'm a total lease newb.

    Thanks,

    Pete
  • thbellthbell Posts: 15
    Car Man: Can you provide an update for April for Lexus Financial Services' current buy rate lease money factor and residual value for a 36-month lease of a 2012 LS 460L AWD with 15,000 miles per year are .00190 and 53%, respectively for consumers who qualify for its Tier 1+ credit tier? Many thanks!

    thbell
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