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2013 and earlier Lexus IS 250 / IS 350 Lease Questions

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Comments

  • naabuddynaabuddy Member Posts: 6
    This is my first posting on this forum. So please bear with me and help me understand my new car purchase analysis/options!

    Model year: Lexus IS 250 2008 AWD (brand new)
    Miles on the car: 86
    Options included: Luxury, Navigation, Premium, & Preferred Accessory Packages, and All weather Mats
    MSRP: $41,174.
    Invoice Price: $35,896
    True Market Value: $39,115(KBB), $37,169(Edmunds)
    Financing: 2.9% APR for 48 months
    Down Payment: 0 (this may not be my choice)
    Dealer's quote: $37,000
    My offer: $35,000

    My questions to all you experienced dudes:
    •What should be the best price (between $35,000 - $37,000) should I finally go for this car?
    •What should I check for in the new car (with any known issues with IS 250)?
    •Should I negotiate for free Services (one of the competing dealer is offering free services thru 50k miles) ?
    •Having 86 miles on the new car have any negative impacts?
    •If I finally negotiate for $36,000, what should be my best bet if I have go for Lease option. Please include for 12k, 36 months, Zero down, Monthly: ?, Residual value: ?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Yes, tbone6964, Lexus did enhance its lease program for most models on July 25th. You never mentioned how long you want to lease for or what mileage allowance you need, 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. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of an '08 IS 250 RWD with an automatic transmission and 15,000 miles per year are .00055 and 52%, respectively in most of the country for consumers who qualify for its Tier 1+ credit tier.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Planky, Lexus Financial Services' residual values are exactly the same in August as they were in July.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • fbuellerfbueller Member Posts: 3
    I still didn't get a response to my question, probably because the costs were split by a page break. I hate to repost but the answers on separate pages kind of messed up my question. So to recap -

    I just ran the paperwork and was quoted an 08 IS250 RWD with premium package (heated/perf seats/woodgrain center trim) and a spoiler. MSRP of $34,359. I negotiated a lease at 12k miles, 36 months, $2,000 down and $329 a month plus tax ($354 total monthly when CA tax included, in Los Angeles).

    Vehicle value on the leasing paperwork is $30,421.56. Gross capitalized cost is 31,066.26. Option to buy at the end of the lease is $18,745.

    Can anyone comment if this is a good deal? Thanks!
  • blacktypesblacktypes Member Posts: 3
    Car_man,

    I'm looking to lease an '08 IS 250 RWD with automatic transmission for 36 months and 12k miles per year in the NYC area. I read up top that current MF is: .0050, can you tell me what percentage the current residual is?

    Thanks
  • jitters503jitters503 Member Posts: 10
    Hi. I live in NY. I just chewed a salesman down to this for an 08 IS250AWD for Adaptive front lights, Navigation, and spoiler.

    2416.90 up front for taxes, fees, and 1st payment
    $430 per month for 36 months
    10K miles per year.

    Good???
  • kingpcgeekkingpcgeek Member Posts: 1,051
    How would we know? You didn't mention the price of the car.
    2005 G35 Sedan
    2007 G35 Sedan
    2008 G37 Sedan
    2010 G37 Coupe
    2012 G37 Sedan
    2014 Q50 RWD

    2017 Q60 3.0t RWD
    2018 QX60 RWD
  • jitters503jitters503 Member Posts: 10
    MSRP 39,585 w/o spoiler.... they were gonna throw that in.
  • kingpcgeekkingpcgeek Member Posts: 1,051
    That is not what you are paying for the car, that's the sticker price.

    I'm going to cut and paste my "Is it a good deal speech now":

    If will take some time to read this forum or any leasing forum you will find that no one can tell whether a lease is a good deal without knowing the price of the car that the dealer is selling you. If you only negotiate the price of a lease payment you open yourself to getting into a bad deal.

    You need:

    Publicly Available Items
    MSRP
    Invoice Price
    Current Manufacturer Residual
    Current Manufacturer Lease Factor

    Items particular to your deal
    Selling price (in these car buying times you should be around invoice on most cars)
    Lease factor dealer is quoting you (dealers can mark this up)
    Dealer doc fees
    Local sales tax, and whether you pay up front or every month.
    Out of pocket money up front.
    2005 G35 Sedan
    2007 G35 Sedan
    2008 G37 Sedan
    2010 G37 Coupe
    2012 G37 Sedan
    2014 Q50 RWD

    2017 Q60 3.0t RWD
    2018 QX60 RWD
  • jitters503jitters503 Member Posts: 10
    Errr... ok. All I got was the 55% Residual, and Lease factor of .007.
  • kingpcgeekkingpcgeek Member Posts: 1,051
    It won't be a lease facotr of .007 that's a 16.8% interest rate. .0007 would be more like it at 1.68%. I am pretty sure the standard Lexus rates is .00055 so the dealer is marking it up. You can always ask them.
    2005 G35 Sedan
    2007 G35 Sedan
    2008 G37 Sedan
    2010 G37 Coupe
    2012 G37 Sedan
    2014 Q50 RWD

    2017 Q60 3.0t RWD
    2018 QX60 RWD
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi fbueller. The dealer invoice price for a 2008 Lexus IS 250 RWD with an automatic transmission, Premium Pkg., and a spoiler is $30,224. That puts the $31,066 selling price that you were quoted for this car at just over $800 over invoice, which is pretty good. You can always hop on over to the "Lexus IS 250 / IS 350 Prices Paid and Buying Experience" discussion for more feedback on that aspect of your deal.

    Once you are comfortable with the selling price, make sure that the dealer is using Lexus Financial Services' buy rate lease money factor to calculate your car's monthly payment. I believe that LFS' buy rate for a 36 month lease of an '08 IS 250 RWD AT is currently around .00055 for consumers who qualify for its Tier 1+ credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi blacktypes. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2008 IS 250 RWD with an automatic transmission and 12,000 miles per year are .00055 and 54%, respectively for consumers who qualify for its Tier 1+ credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • friedmikefriedmike Member Posts: 37
    Carman,

    Does the 54% residual for 36 months and 12k change with NAV? Also, do you have the residual for 24 months and 12k with NAV? My dealer told me that they could not do a 24 month lease with less than 15k miles.

    Thanks!
  • emelkunemelkun Member Posts: 1
    When I purchased my 2006 IS350 (18in wheels, premium package, preferred accessories) MSRP 38234, my cap cost was 35988. The residual is 22175 on a 36mo/12000mile lease, or 62%. My paperwork from Lexus lists a "Rent Charge" of 6245 which I assume is equivalent to interest. How do I convert this rent charge to a money factor. No money down monthly payment is $575 w/o tax

    Did I get a fair deal or should I never go to this dealer again? Thanks.
  • jeffman619jeffman619 Member Posts: 31
    He emelkun,
    the residual is a percentage of MSRP, not cap cost. so actually your residual was 58%. something doesnt exactly add up from your numbers but your money factor was in the range of 0.003 to 0.0033. Or ~ 7.2% to 7.92% .

    Rent Charge = (Net cap cost + residual )* MF *36
    or
    MF = Rent Charge / ( (Net cap cost + residual )*36)
  • marcux21marcux21 Member Posts: 3
    HI,

    This is the deal that I got from my dealer for an IS 250 AWD:

    The Luxury package
    The Premium package
    The Navigation Package
    Ipod-Interface kit
    weather tech floor mats
    preferred accessory package
    rear lip spoiler
    XM Radio

    MSRP: 42,000
    Ca Cost: 39,000
    Money Factor: .00107
    12 k miles for 48 months

    I got it for 530 a month (taxes included) with the dealer making my first payment. Total out of pocket was 87 dollars for license plates. What do you think? Was it a good deal?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey friedmike. I don't believe that the addition of navigation has any impact upon Lexus Financial Services' residual values for this model. LFServices' current buy rate lease money factor and residual value for a 24 month lease of a 2008 IS 250 RWD with an automatic transmission and 12,000 miles per year are .00055 and 61%, respectively for consumers who qualify for its Tier 1+ credit tier. I don't see why LFS wouldn't do a 12k lease for 24 months. I have a feeling that the dealer that you spoke with was wrong.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • sunofny99sunofny99 Member Posts: 24
    I don't have exactly all the numbers but I am getting an 08 IS250AWD with premium Package and Navigation for 36 mos/12k yr for 459 month including NY sales tax. Out of pocket includes first month, 600 app fee and dmv fees. How does this sound?
  • sunofny99sunofny99 Member Posts: 24
    Here are my exact numbers:

    Model: IS250 AWD With Navigation, Prem Pkg, Spoiler, HID
    MSRP: 39,738
    Cap: 35,510
    Residual: 54%
    MF: .0006
    Total Out of pocket: $1,088 (first month, bank and dmv fees)
    Monthly - $459 including tax
  • socalcpasocalcpa Member Posts: 15
    I intend to buy my leased IS 250 when the lease ends in 2 months. When I purcahsed my BMW at the end of its lease, I was able to: 1) turn it in to BMW Financial Services 2) Have a dealer buy it from BMW FS for less then the residual and 3) sell it back to me for the residual. In the process the car was certified for "free" as a CPO (extra warranty) and I got a promo financing rate.

    I was hoping to get some info on whether Lexus dealers are able to purchase turned-in leased cars from Lexus Financing Company (or whatever the name of this company is) for less then the lease residual to either get a lower price then the residual or extended warranty or promo financing.

    I contacted 2 fleet managers at local Lexus dealerships but both said that I should just buy the car directly from the Lexus Financing Co. However, I am not sure that they fully understood my question.

    I'd appreciate any insight on this issue.
  • totowatotowa Member Posts: 14
    Hi,
    I just want to share with you my price and experience with a dealership.
    I requested a quote from Edmunds, and got the response from one of dealer in NJ.
    MSRP: $37709 (HID, All Weather Mat, Trunk/Cargo PKG, Premium Plus, Spoiler)
    Dealer Offer Price: $33395
    MF: 0.0006 / Residual 54% at 12,000
    Initial Payment: 1493.04 (Bank Fee 600 + MV + Rec Fee 200)
    Monthly 424.03

    Originally, I went to buy it with finance 2.9%/48Mo, then I compare that Total costs of "Lease then Buy" and "Buy". They were not much different if I put my original down payment in CD or MMA, and hope to grow it by end of lease term. I am intend to pay extra amount to my saving account, just like I would pay for monthly payment for finance. Thanks to current MF which is being so low. Dealer said, Lexus don't negotiate the residual value after end of lease. At least, for now, I have some leverage to change my mind if I don't want to keep this car.



    I ended up leasing it because MF was lower than Finance APR. I will post more on the Lease forum.
  • roushyboyroushyboy Member Posts: 11
    MSRP: 40105 (NAV, Premium Plus, HID, Spoiler, Net)
    MF: 0.0006
    Initial Payment: ~1400
    Monthly: $420 for 26 months, 12k miles
  • gnarlydudegnarlydude Member Posts: 11
    When I was shopping around for my 08 Is 250 w' premium package I wanted to lease, i got some decent deals but the best was from this salesman in the OC. I actually ended up just buying my car cause I felt I wanted to keep it for longer and even then I got it for not much more than dealer invoice from the same guy. Thousands below MSRP even after all the taxes and stuff. I even live literally down the street from Longo Toyota and walked out of there, TWICE cause they were trying to rip me off.
  • frank83frank83 Member Posts: 4
    I picked up my IS250 on Sat. Aug 30 in SoCal.
    MSRP 39,178
    Cap Cost 33,781
    mmf 0.00055
    36 months, 12k/yr
    drive off $1000.00 total
    residual 21156
    payment $422.00 including tax
    IS 250 includes NAVI, HID lighting system, Prem pack, X Package,
    net,mat,locks, and rear bumper applique
    Smokey Granite/with gray interior
  • emadrigalemadrigal Member Posts: 4
    good pick.

    I had picked up my is250 smokey granite on June 28th
    Premium Package
    HID
    sport package
    heating and cooling seats
    NAVI
    Light grey leather interior

    $1200 down
    15k miles 36/months lease
    $480/month including tax
    I was not tier 1 credit , but if I was the lease payment would have been in the low $400's
  • roushyboyroushyboy Member Posts: 11
    Good deal. Too bad they don't offer IS 250 RWDs in north east region
  • masnmasn Member Posts: 7
    I have a 39 months lease of an IS250 ending on 02/09 for a total of 39k miles costing 25 cents the extra mile, right now I'm around 44k miles. What it's the best move I can do? People told me to go to the dealer and try to renegotiate and take another lease others to buy the car?? :confuse:

    The purchase payoff estimator by Lexus Financial is $21,276.33

    Thank you for any advise...
  • kcsmkcsm Member Posts: 2
    Please share the dealer for your deal. Thanks.
  • kingpcgeekkingpcgeek Member Posts: 1,051
    Leases seem to really confuse people when if comes to getting out of them early. Its just like any other car you finance that you want to trade in. There is the amount that you owe the finance company, $21k+, in your case, and the trade in value of your car. You didn't give any details about options on your car, but the trade in value of your car is around $17,000 - $18,000. The difference between the 21k and 17k is what you would have to roll into a new lease or pay outright before getting a new car.

    One caveat on your lease payoff. Depending on what state you are in, there might be two payoffs. The first would be a consumer payoff if you bought the car, which would include sales tax. The other payoff would be a dealer payoff that has no sales tax. If your monthly payment includes sales tax then there are two payoffs, and hopefully you received the consumer payoff.
    2005 G35 Sedan
    2007 G35 Sedan
    2008 G37 Sedan
    2010 G37 Coupe
    2012 G37 Sedan
    2014 Q50 RWD

    2017 Q60 3.0t RWD
    2018 QX60 RWD
  • tyler143tyler143 Member Posts: 4
    Can someone please post the money factor and residual % for the month of September based on the IS 250 AWD base model with 15,000 miles and for 24 and 36 month lease term.
  • vipercarlvipercarl Member Posts: 1
    Dealer is quoting money factor equivalent to 3.25%, 48% residual, for 39 month lease. MSRP is roughly $42000. Should be eligible for highest credit rating deal.
    Thought the payment for this was really ugly. What are your thoughts?
  • glevitanglevitan Member Posts: 8
    here is the deal on the table:

    IS250 AWD, NAV, HID , Lux Package

    3 years/10K miles
    MSRP 40,255
    Cap Cost 35,655
    Money factor .00095
    54% residual
    $3000 down including First months, all tax's and all fees. (NY Tax i $1300)
    $432.44/month for 36 months.

    Is this a good deal?????
  • manageoutmanageout Member Posts: 3
    Which dealer did you use, and who did you talk to? Much appreciated
  • frank83frank83 Member Posts: 4
    I got my IS 250 at South Bay Lexus In Torrance. I dealt directly with female
    Internet sales manager
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi tyler143. According to the latest information that I have seen, Lexus Financial Services' current buy rate lease money factor and residual value for a 24 month lease of a 2008 IS 250 AWD with 15,000 miles per year are .00095 and 58%, respectively for consumers who qualify for its Tier 1+ credit tier. The numbers for an otherwise identical 36 month lease are .00095 and 51%.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • ritche_joshritche_josh Member Posts: 3
    hi i wanted to lease an 08 or 09 IS250 with premium package. Lexus doesnt post their lease offers on their website. Any idea what the current deal is? I am new to leasing a vehicle. I dont know what factors/ numbers should i be concerned of to make a good deal. I want my monthly payments to be bet $400 to 450 a month. i am upside down by $3000 for my 08 honda accord. How much down payment would I be looking at? I would appreciate your honest feedback.

    Thanks.
    josh
  • scottyt24scottyt24 Member Posts: 24
    Anyone have experience with a recent lease in the Chicago area on a 250 AWD? Any feedback would be greatly appreciated!

    Thanks
  • sunofny99sunofny99 Member Posts: 24
    I went to Lexus of Massapequa. I went through several dealers and no one was willing to touch my deal.
  • raikairaikai Member Posts: 4
    Divide the $3,000.00 by 36 mo. and ur payment comes to around 515.74 - Down pmts. r fake - always arrange pmts w/o anything down.
  • raikairaikai Member Posts: 4
    What in the world is a Down Payment? The down pmt. you should be looking @ is $0.00. When you lease a car and r ready to take the keys - the only $$$ u should give them is the 1st months.
  • miket21miket21 Member Posts: 8
    Does anyone have the numbers for a 48 month lease 10k miles/yr on a 2008 lexus is250 awd?? Making a decision this weekend and want to know if im getting a good quote. Thanks
  • eights38eights38 Member Posts: 145
    miekt21 - The money factor is 0.00095 (top tier credit) and the residual is 45%. The 48 month payment is less expensive, but I think that you should consider the 36 or 39 month leases programs as well. It might save you money on maintenance, etc. in the long run.

    Matt
    eights38@gmail.com
  • keitaroukeitarou Member Posts: 45
    Hi Carman,

    I am looking to lease the IS 250 with Nav for 36 month. What is the MF and residual for both 15K and 12K miles?

    The quotes I got for 15K miles was $512 and for 12K miles was $491. This is before sales tax and with no cap cost reduction.

    Thank you.
  • kingpcgeekkingpcgeek Member Posts: 1,051
    What is the price of the car? Why don't you ask the salesman what the MF and residual are?
    2005 G35 Sedan
    2007 G35 Sedan
    2008 G37 Sedan
    2010 G37 Coupe
    2012 G37 Sedan
    2014 Q50 RWD

    2017 Q60 3.0t RWD
    2018 QX60 RWD
  • keitaroukeitarou Member Posts: 45
    HI Kingpcgeek,

    What do you think is a good price on the 2009 IS 250? The price I was quoted was 37,017 before tax and license. This is including Nav.

    Keitarou
  • comohombrecomohombre Member Posts: 27
    Frank,

    Since you say that your drive off was $1000.00 total. Is 1st month payment included in the $1K? Is the $33,781 your negotiated price?
  • kingpcgeekkingpcgeek Member Posts: 1,051
    Invoice is not available here at Edmund's for the 09's. Also Lexus does different configurations for different areas of the country. For my area (PHX) the MSRP of a IS250 Auto RWD with NAV is $37,370 which by my guestimates would put the invoice around $33,000. Right now you shouldn't be paying more then $500 over invoice, if not less. Remember Toyota for the first time is running zero % financing (not for Lexus) so they are hurting like everyone else.
    2005 G35 Sedan
    2007 G35 Sedan
    2008 G37 Sedan
    2010 G37 Coupe
    2012 G37 Sedan
    2014 Q50 RWD

    2017 Q60 3.0t RWD
    2018 QX60 RWD
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi keitarou. According to the latest information that I have seen, if you were to lease a 2008 Lexus IS 250 2WD with an automatic transmission through Lexus Financial Services right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value would be .00085 and 50%, respectively for consumers who qualify for its Tier 1+ credit tier. The residual value for an otherwise identical lease with 12,000 miles per year would be 2% higher.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • rastacanerastacane Member Posts: 3
    Car_man,

    Can you please post the October money factor and residual for the 2009 IS 250 RWD, 15K miles, 24 and 36 month lease terms?

    Thanks for all the information you provide on the boards.
This discussion has been closed.