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2013 and earlier Lexus GS 350 / GS 460 Lease Questions
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Car_man
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Car_man
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Thanks
The dealer initially quoted me 44,500, sticker is $48,661. But when I left to think about it. When I called back (30 min later to tell him I wanted to do the deal) he said his GM said that was $300 below cost and they would need to make $500 over cost so the NEW price is $45,430. I was pissed. He had run the 44,500 buy his sales manager while I was in the dealership.
Quesitons.
1. Sticker is 48,661 is this ($45370) still a good price for the 2010?
2. I typically put 8-10k miles per year on my car is leasing a better option in this case?
3. What is a one price lease? He said if I came up with a lump some $30k or so that is even a better deal?
4. He offered me lease rates as follows.
The rate/money factor is .00230. These payments are based on selling you the car at $500 over dealer cost which is $45370.00. The money down includes $2500 down, first months payment, taxes and fees. The leasing payments are as follows.
36 x 10 = $647.35 w/$4004 down
36 x 12 = $662.33 w/$4019 down
48 x 10 = $618.46 w/$3973 down
48 x 12 = $628.09 w/$3982 down
It was a done deal at 44,500 but now I feel like they are playing games.
Would really appreciate thoughts and feedback on the above. I have been waiting for a LONG time to finally make this purchase. I have never leased a car before.
Sorry for the long post.
Thanks
Frank
First of all, you will love the car. I've been driving one for three years and am considering another because I can't find anything with all the features, easy to drive and never goes wrong. Keep in mind they will likely get a redesign in 2011 models, so if this bothers you...
Leasing is a good option if you don't want the car more than three years. If you are going to keep in a long time (5 years?) don't lease. Check my above posts for the prices I was getting on a lease, a factor them with yours.
If you feel they're playing games, go to another dealer with the deal and see what they'll do.
Good luck.
5 series?
There might be some great deal for the current 5series, since the redesign comes out later this year.
Regarding the lexus, if u like the car, the extra $930 does not make a big difference, but if u want the dealer to stick with the price, try pushing him to give for the price he promised, or perhaps look at other dealers?
More likely than not, they won't, but it's difficult to say whether LFS will be willing to negotiate your car's end-of-term purchase option price.
Car_man
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Car_man
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price. They still make $$ on the original offer.
$45370 is still a good deal. Did the dealer give you some time to
think about the offer?
Like other poster already said. You will love the car.
If you can afford to buy the car, you would be better off buying it.
When the lease ends, you don't have anything left after making the
lease payments.
You're still responsible for maintenance costs during the lease.
Good luck.
Lexus Financial Services' February buy rate lease money factor and residual value for a 36 month lease of a 2010 GS350 RWD with 15,000 miles per year are .00220 and 54%, respectively.
When negotiating your lease, keep in mind that Lexus is currently waiving the first month's payment on this car.
Lexus' current lease program is scheduled to run through March 31st. While it is possible that Lexus would make an unscheduled enhancement to its program before then, more likely than not it won't. It's difficult to say what its April program will be like at this point, but I suspect that it will be at least as attractive as its current one. Time will tell.
Car_man
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Car_man
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If I were to offer invoice for the vehicle which on the lot in PA is at MSRP of like 53,823, what would the breakdown be for a 36mth lease with 12k miles a year.
Or really I should be asking, how do I figure this out? I can obviously get the invoice of the vehicle. So then how can I figure out what the payment would be if I knew the invoice, know the money factor and residual lexus is offering? How does the payment change if I move the yearly miles up or down?
I apologize in advance if these are basic questions or if I'm not asking the right ones, but I forget and haven't not been on here since I leased a car 4 years ago.
I'd like to try to get a payment in the 500 range with roughly 1500 drive off cost and I'm not sure if this is posible but just figured I'd ask or try... :shades:
FYI: I do know the difference between the invoice and the MSRP price. I'd either ask the salesman to see the invoice of the car or just order the report off of here to what it is.
I am thinking of purchasing my 2007 GS350 at maturity date. Resid Valu approx 24K and the car is in mint condition with less than 20K miles. I believe Edmunds value is 28K-30K for comparable car.
Questions:
1. can I negotiate further with either Lexus Financial or any of the local dealers on price?
2. i have heard that there are dealer fees of around 650 dollars due at time of transaction for paperwork? seems silly for that?
3. any other considerations I am missing?
I have until Friday....so prompt replies, suggestions are highly appreciated !!! Thanks much
I suspect that LFS will be fairly lenient when evaluating the condition of the GS that you are returning. Unfortunately Lexus is not running any cash loyalty programs right now, the fact that you are a returning lessee won't really do much to help you in your negotiations on your new car.
Car_man
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For my cap cost on 2010 GS 350 2WD with nav no mark lev do you know what the invoice is ? Should I start from invoice? What is the best way to approach? thax
Car_man
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My three year lease on an '07 GS350 (with 21,000 miles) ends this June. From the dealer's perspective, would the dealer rather I return the car (which I assume goes back into their inventory) or buy out the lease? How would the dealer profit best?
Car_man
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Car_man
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If you want to buy it to keep, consider my situation. $34k msrp vehicle. $3500 down, $399/mo for 39 mo/12k miles per year. Residual is $18400, at lease end, my car is worth $25,000! Total payments during lease about $15000 (less than half of car's cost). Buy at $18500 and car is still under sticker price! When money factor is low and residual is high, you can have a nicer car for less money and less money down. Money down is optional, too.
Interested in MF, Residual fof 12K miles per year. Thanks.
I'd also like to know the two and three years lease rates for a 2010 GS350 RWD, 12,000 miles/yr (MF & Residual).
Also, would you happen to know...like a CPO purchase, is Lexus also offering 1.9% for new car purchases this month?
Thank you.
10k miles
3 year lease
THANKS!!!
If you are a current Lexus owner, make sure to take advantage of the $1,000 loyalty cash incentive that is currently available on leases of this model.
Car_man
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Lexis is providing special financing rates on select models in May, unfortunately the GS 350 is not one of them.
Car_man
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Car_man
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GS350
MSRP: $50,555
Term: 36 months
Annual Mileage: 15,000
Lease Acquisition fee: $700.00
NJ tax (7%): $1,586.20
NJ Tire tax: $7.50
Doc fee: $239.00
Registration fee: $501.75
Loyalty Rebate: ($1,000.00)
=====
Monthly Payment: $610.00
Total due at signing: $2,644.45 ($2,034.45 + $610.00)
Any thoughts or things I should push back on? I'm leaning towards closing on this over the weekend..
Thanks for the May lease rates but unfortunately I couldn't make a deal (family obligations got in the way .
So....for June, do you know the three year lease rates for a 2010 GS350 RWD, for 10,000 and 12,000 miles/yr (MF & Residual)?
Also, are there any special finance rates available (should I purchase)? I would think Lexus would have a big promotion to coincide with Independence Day in a few weeks.
Thanks again!
In case you missed my post from a few days ago...
Thanks for the May lease rates but unfortunately I couldn't make a deal (family obligations got in the way).
So....for June, do you know the three year lease rates for a 2010 GS350 RWD, for 10,000 and 12,000 miles/yr (MF & Residual)?
Also, are there any special finance rates available (should I purchase)? I would think Lexus would have a big promotion to coincide with Independence Day in a few weeks.
Thanks again!
The residual value for a lease with only 10,000 miles per year would be 1% higher.
Lexus was running a special financing program on this car a couple of months ago, but unfortunately it is not offering one today.
Car_man
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if you would like to call me directly, 856-334-2124
Would you (or can you direct me where) know when the 2011 model is coming?
2 yr/10K miles per year: 62% Residual, Money factor (MF) .00065
2 yr/12K miles per year: 61% Residual, MF the same (.00065)
3 yr/10K miles per year: 55% Residual, MF of .0012 (have also been quoted .0014)
3 yr/12K miles per year: 54% Residual, MF of .0012 (have also been quoted .0014)
The quote per mile is accurate at .25 cents (at least here in SoCal)
FWIW, the new GS model is coming out late February (confirmed at three separate dealerships). Most likely announced in early November. No pictures have been released.
Car_man
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