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2013 and earlier Lexus GX 460 Lease Questions

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  • This is the first time I am considering leasing and any information/advice would be appreciated. I received the following quote and it seems like a decent deal:
    GX470 with MSRP: $53,536
    Includes:
    Navigation System / Mark Levinson Audio Package Includes:
    Backup Camera
    Cargo Net, Cargo Mat, Wheel Locks
    Exhaust Tip
    Rear Spoiler
    Third Row Seat With Rear Air Conditioner
    Tow Hitch Bracket

    Sale price $45,688
    Residual $29,444.
    MF .00275
    $1500 Total Drive Offs
    36 @ $735. Incl Tax.

    I asked for a quote based on 3 years/12,000 miles per year so I believe this is for 36,000 miles. I am trying to confirm this with the dealer. Will the December to Remember deals be better? Any chance I can negotiate a better money factor now and not wait until the end of November? I believe the money factor will go down to .00225 at that point in time.
    Thanks for any responses!
  • seems like a great deal. grab it.
  • Hi berisky. The truck that you described has a whopping spread of over $6,500 between its MSRP and its dealer invoice price. The $5,500 discount that you negotiated on the specific unit that you are interested in is a pretty reasonable price. It is probably equivalent to around $1,000 over invoice. Just make sure that the dealer that you are working with uses Lexus Financial Services' current buy rate lease money factor to calculate your monthly payment and you're all set. LFS' current buy rate for this model should be around .00275 for consumers who qualify for its top credit tier.

    Car_man
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  • Welcome caligirl5. Since you have never leased before, 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.

    The lease money factor that you were quoted good, it's right in line with Lexus Financial Services' current buy rate for this model. You are being given a huge discount on this truck as well. If you like it, I personally don't see any reason not to go for it.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Does anyone know the lease factor and residual that I should expect in the Texas market for GX470 in a 36 month lease with a 15k mile/year allowance?
  • Where did everyone go?
    I am looking for leasing information in Texas as well.
  • Hi Car_man,

    I'm looking for details on the December to Remember Sales Event. Specifically, I'm looking for cash incentives, taxes paid by manufacturer, money factor, and residual for a 36 month / 12,000 mile lease on a 2008 or 2007 GX 470 with navigation, third row seat, a rear seat entertainment system, both preferred accessory options, rear spoiler, and a tow hitch receiver with ball mount. I believe the entertainment package is the only option that changes the residual percentage. Also, I needed to confirm the money factor discount for multiple security deposits. Can you help?

    Thanks.
  • I'm also looking for leasing information for 3 years/ 12K miles per year on the same vehicle but a 2008 model only. So far I've received two quotes one with a .00295 money factor and the other with a .00255 mf. The residual given has been 56%. I doubt either of these dealers are giving the buy rate money factor.

    Car_man, any help is greatly appreciated.
  • 56% residual and a .00255 mf is better than the figures you posted in September, which is encouraging. I agree (hope) that the mf is actually lower during December to Remember. Is the 56% residual based on a GX 470 with or without an rear seat entertainment system?
  • Hi firstnten,

    The figures are for the GX470 with Mark Lev/Nav, third row, preferred accessory pkg plus dual screen RSE added to the headrests. Although the money factor is better than the previous quote I'm finding that the dealers are not taking as much off the MSRP now. Interestingly, I have a quote on a Mercedes GL 450 with the dual screen RSE and the monthly payment is coming out very close to the GX470 payment even though the GL450 cap cost is nearly 10K more than the GX.
  • Thanks caligirl5. Good info, especially since the GL is also on my list.
  • Hi firstnten. Lexus is not currently providing any cash incentives on the 2008 GX 470, but it does have $1,500 dealer cash on the 2007 model. As far as this truck's lease program goes, Lexus Financial Services' December to Remember buy rate lease money factor and residual value for a 36 month lease of a 2008 GX 470 with the entertainment system with 12,000 miles per year are .00255 and 56%, respectively for consumers who qualify for its Tier 1+ credit tier.

    LFS provides a .00010 money factor reduction for every additional security deposit lessees make, up to a maximum of nine.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Hi caligirl5. Lexus Financial Services' new December to Remember buy rate lease money factor and residual value for a 36 month lease of a 2008 GX 470 with the entertainment system and 12,000 miles per year are .00255 and 56%, respectively for consumers who qualify for its top credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Firstnten, check out the 39 month lease for the GL450. Currently MBF is offering a .00180 money factor on the vehicle for the 39 month term.
  • Thanks for the information Car_man!
  • Opps! It's the 33 month term with .00180 MF (not 39 months).
  • You're very welcome, caligirl5.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Thanks. That's a good MF. Mercedes, like Lexus, offers a discount on MF with multiple security deposits, which would really get the MF ridiculously low. You may have already found this Mercedes site, but it list the lease details along with residual values for the deal you mention. Mercedes Lease Deals

    (Sorry for the off topic post everyone, but I wanted to share this info with caligirl5 since she has been very helpful researching the GX and alternatives.)
  • Thanks Car_man. Do you happen to know the MF and residual for the 2007 model?
  • Car_man: Have the following numbers changed now that it is December? Money factor and residual value for a 36 month lease of a 2008 GX 470 with the entertainment system with 12,000 miles per year are .00255 and 56%, respectively for consumers who qualify for its Tier 1+ credit tier.

    Also, please disregard the request for the 2007 information. I could not get the options I wanted on the last remaining ones. Thanks.
  • I leased this on New Years Eve

    GX470 Black MSRP: $51,605.00
    Includes:
    Navigation System / Mark Levinson Audio Package
    Backup Camera
    Cargo Net, Cargo Mat, Wheel Locks
    Third Row Seat With Rear Air Conditioner
    Tow Hitch Bracket

    Lexus Financial Services
    12k miles per year
    0 security deposits
    no lease end fees

    43,588.02 Gross Cap Cost
    93.77 Cap Cost Reduction
    43,494.25 Adjusted Cap Cost
    24,770.40 Residual Value
    596.24 Base Monthly Payment
    38.76 Monthly Sales Tax
    635.00 Total Monthly Payment

    The inceptions of $1621.00 were picked up by the dealer so I only have to make 47 payments

    Good Deal?
  • Looks like a great deal....just for clarification was this on an '07 or '08?
    and that the actual selling price is 43,588.02? That's over 8,000 off of sticker. Sounds like a good deal.

    May I ask what dealership?
  • It was an 08 with 9 miles on the odometer.

    I had spent 2 hours at JM Lexus in South Florida but they didn't have the car in Black and their price was much higher. I called Lexus of Palm Beach from the JM showroom and they said they had the car and would work for the sale. They were great to work with.

    It was about 1.5 hours after the dealership had officially closed on New Years Eve and they wanted the sale. When my wife started backing away they offered to pick up the incentives. I signed about 10 seconds later.

    They insisted it was a money loser for them and for once I actually believed the dealer. I highly recommend the dealership.
  • It was actually a little better than $8000.00 off.

    The paperwork was all written up with
    51605.00 MSRP
    - 43588.02 Selling price
    = 8,016.98 off of the MSRP

    But after the paperwork was all complete the dealer kicked in the $1621.00 for incentives.

    My actual cost was 41967.02 for a savings of $9,637.02 off MSRP

    I enjoyed my New Years Eve.
  • slojoslojo Posts: 6
    Does any one know the January MF and Residual for 12K/26mo on the GX470?
  • Hello slojo. Here's the information that you're looking for. Unfortunately, Lexus is not providing any lease support on the 2008 GX 470 in January. As a result, if you were to lease one through Lexus Financial Services, you would have to use its standard lease program. LFS' current buy rate standard lease money factor is .00255 for consumers who qualify for its Tier 1+ credit tier. Its 36 month, 12,000 mile per year residual value for an '08 GX 470 without the entertainment system is currently 56%.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Here is the Deal I made last night from Crown Lexus:

    MSRP: $52,668
    Neg price: $46,800
    Net Cap $47,400. Bank Fee added
    MF .00255
    15000/year
    48 Months, 45% residual
    Drive off $ $1179

    Payment $675 + tax.

    Black w/gray int: what a nice Vehicle. We replaced our 2001 Sequoia Limited.

    Dan
  • Hi there,

    I am not happy with the Lexus Dealers in MN. Want to buy/lease a 2008 470 and the sales people are slow, no inventory, and not motivated to make a deal---there are 3 or 5 cars in the state now, as they trickle in up here. I travel to Palm Beach quite a bit. If they have inventory and are eager to make a sale, what is the downside to purchasing in FL? (other than the drive home).
  • I don't know about the downside, but I can tell you the upside.

    I leased from Palm Beach Lexus and got an amazing deal (closing time on New Years Eve helped). They had a large inventory and were great to work with. You should also check JM Lexus about 30 miles south. JM is the largest Lexus dealer in the Country and easily leads in sales every month.

    The way it was explained to me is that JM Enterprises basically controls the Port in Jacksonville where the cars come in. They pick what they want and distribute the rest. Their showroom is 30,0000 SF and they have row after row of the GX-470's. When I purchased they didn't have black, but they probably had more than 100 in other colors.
  • Hello Dan,
    What was the money factor on your deal? Did you pay any down?
This discussion has been closed.