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Lexus LS 460 Lease Questions

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  • tbrooktbrook Posts: 1
    2008 Lexus LS 460 is $950 incluyding tax
  • I'm getting quoted $1,100 per month including tax with a car with an MSRP of $69500, is this a good deal? The only money down is about 2,000 which includes the security deposit and first months payment.
  • alfealfe Posts: 4
    What part of the country are you in? I don't know if you know this, but you can substantially reduce your lease payment by putting down at signing up to 9X ytour monthly lease payment as a security deposit which you get back fully at the end of your lease. I did this and reduced my lease payment by 7.6% of the total security deposit! Not a bad return and it is non-taxable. You can't get that from a CD, bond or money market fund. All you need to do is to put down around $9000 and you will reduce your monthly lease payment by around $63.

    ALFE
  • topgun7topgun7 Posts: 409
    Car_man, do you have any info on the December to Remember events for LS460 SWB? I am looking to lease either an 08 or 09 LS460 for 36 months 15K mi/year in California. I understand that 08 still have 4k dealer cash (but the choice of color and como is limited at this time) but 09 should have a higher residual. I wonder if the higher residual for 09 is enough to cover the potential 4K additional discount for an 08.
  • leo7leo7 Posts: 3
    I'm looking to lease LS 460 2009 SWB AWD in NJ.
    What kind of discount off MSRP would be reasonable to expect?

    I saw that 2008 models could be bargained down to MSRP - 14K,
    but I did not see any pricing info on 2009 models.

    Any help is greatly appreciated.
  • topgun7topgun7 Posts: 409
    this afternoon from Lexus of Sacramento. LS460 with comfort plus, intuitive parking, one touch open/close trunk and power door closer, and trunk mat, wheel lock etc. MSRP 75765. Here is the term...

    Sales price 59692.57
    doc fee 55
    acquisition fee 700
    total cap cost 60447.57
    drive off 1033.76 (first payment) + 9450 (9 MSD) + 474 (license) + 8.75 (tire fee) = 10967.4

    36 months / 15k mi per year
    Residual 29906 (40%)
    money factor 0.00118 (was 0.0019 before the 9 MSD)

    monthly payment 945.97 + 78.79 (tax)=1033.76

    Very happy about the internet manager from Lexus of Sacramento. He breaks down all the number so I can examine each one of them before we come to term. Also very polite and easy going. Deaership is hugh and still have 7-8 08 with various equipment level (a couple red with cashmere interior look really sharp). The only problem so far is the serial number is wrong in the lease paperwork so we probably need to go back and change it (crap another 200 miles round trip..) but wifey get 2 cups from the internet manager and she is very happy. She drove it home and her initial impression is that she like it a lot (we did test drove the LS about 5 months ago). We had 6 Lexus and her last car was a CLK 55 convertible and she is very hard to please. Thanks everyone.. without this thread, I would have gotten a CTS with the big discount (and our GM card point).

    Also we accepted the lexus Visa card and charge 10K or the 10995 drive off on the visa card. Got a total of $550 Lexus dollars to use for future maintenance work (i.e. 15K service etc.).

    All in all a very nice experience... There is still a few LS460 in the bay area. But look like the number with ML package is getting smaller and smaller... So if anyone is interested, one probably need to move fast. I would highly recommend Lexus of Sacramento..
  • Hey topgun7. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2009 LS 460 2WD SWB with 15,000 miles per year are .00250 and 47%. The numbers for an otherwise identical lease of a 2008 model are .00190 and an atrocious 40%.

    On December 2nd, Lexus raised its dealer cash incentive on the 2008 LS 460 from $4,000 to $6,000. I'm not sure if this cash can be combined with the aforementioned lease program though.

    Car_man
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  • topgun7topgun7 Posts: 409
    "On December 2nd, Lexus raised its dealer cash incentive on the 2008 LS 460 from $4,000 to $6,000"

    heh heh, thanks for the info. I know about the $4000 rebate but did not know that Lexus raised it to $6000. Look like dealer is making out o.k. I think the incentive is being used for lease as well as purchase, otherwise dealer will loss money on the discount on my car. The invoice for my car is around 66087 (MSRP 74765)and the sales price is 59692 (cap is 60447 with 55 doc and 700 acquisition fee)... Got the paper work changed in 10 minutes (wrong Vin number in the confusion on the dealer trade between their sister dealership to get the right color combo) so all is well now.. Really enjoy the DVD-video of the ML systems.. They still have a 7 to 8 08 on the lot.. The red with cashmare interios is particularly sharp..

    Given the big discount, I actually don't mind the low residual. Our residual is 29906. It is hard to imagine a better 30K car in 3 years (even if it is already 3 year old by then) and we probably will buy it after the lease is up.. Our previous car was a CLK 55 convertible and the lease was up in July this year. At the time, the best LS deal I could strike was around 1300-1400 a months with similar configuration. So waiting for 5 months or so save us a few hundreds a month in payment.
  • No problem, topgun7.

    Car_man
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  • Hello Guys - I have never leased a car before and would like to lease a LS460 and was wondering what is considered a good deal today - I have execellent credit (750 +) so I would be considered a Tier 1 customer. I am looking to get a fullyloaded one and was wondering if anyone knows of any good deals - Is it possible to do all negotiations on online and have the car delivered to me? I appreciate all the help guys!!!
  • docmridocmri Posts: 25
    Car man,
    You have helped me in the past. I am trying to help a friend who wants to lease a 09 lexus ls460. Can you tell me the latest available MF, RV, for 12k and 36 months from lexus?

    thanks in advance
    D
  • docmridocmri Posts: 25
    Car man,
    You have helped me in the past. I am trying to help a friend who wants to lease a 09 lexus ls460. Can you tell me the latest available MF, RV, for 12k and 36 months from lexus?

    thanks in advance
    D
  • eights38eights38 Posts: 137
    Hi docmri,

    2009 Lexus LS460
    36 Months - 12,000 Miles per Year - 0.00250 Money Factor - 49% Residual
    39 Months - 12,000 Miles per Year - 0.00250 Money Factor - 46% Residual
    42 Months - 12,000 Miles per Year - 0.00250 Money Factor - 44% Residual

    Best,
    Matt
    eights38@gmail.com
  • docmridocmri Posts: 25
    Hey..
    Thanks very much for quick reply.
    I assume these are January 2009 rates and usual adjustments if he wants 10k (add2%to RV) or 15k (-2%) to RV
  • eights38eights38 Posts: 137
    Hi docmri,

    I just confirmed January's lease rates on the 2009 LS460 (Base).

    36 Months - 12,000 Miles per Year - 44% Residual - 0.00285 Money Factor
    39 Months - 12,000 Miles per Year - 41% Residual - 0.00285 Money Factor
    42 Months - 12,000 Miles per Year - 39% Residual - 0.00285 Money Factor
    48 Months - 12,000 Miles per Year - 35% Residual - 0.00285 Money Factor
    * Subtract 2% from Residual for 15,000 Miles per Year. Add 1% to Residual for 10,000 Miles per Year.

    Best,
    Matt
    eights38@gmail.com
  • Welcome rkakoraiev. Since you are new to leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    In short, the best way to get a good deal on a leased vehicle is to negotiate the lowest possible selling price on the car that you want and then have the dealer calculate your monthly payment using its buy rate lease money factor.

    The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Shop around with a number of dealers, either in person, on the phone, or via e-mail for the best possible deal on the LS that you want.

    Once you have a price that you are comfortable with, have the dealer calculate your car's monthly payment using Lexus Financial Services' current buy rate lease money factor for this model, which is .00285 for consumers who qualify for its top credit tier. Your credit is in great shape, so you should not have any trouble qualifying for this rate.

    You may be able to find a dealer who is willing to deliver you a car without you ever having to set foot in a dealership, but most people, even those who negotiate their deals on-line usually end up going to the dealer to pick up their new vehicles.

    Car_man
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  • richzrichz Posts: 125
    Can someone please give me the money factor, residual, etc. for the 2009 LS460 for February? I'm most interested in 36 months / 12k miles/yr. Any trunk money on this car or incentives for current Lexus lessees? Thanks.
  • Hi richz. Here's the information that you're looking for. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2009 LS 460 with 12,000 miles per year are an unattractive .00285 and 44%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    Lexus is not currently providing any cash incentives on the 2009 LS. I don't think that there are many still around, but if you can manage to find a 2008 LS Lexus is providing $7,000 dealer cash on it.

    Car_man
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  • richzrichz Posts: 125
    Thanks, appreciate the info.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome, richz.

    Car_man
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