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2013 and earlier Lexus IS 250 / IS 350 Lease Questions
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I'm looking into leasing my first new car and need help. Don't have a lot of experience with cars in general. I test drove a 09 IS 250 and really liked it, despite the cramped back-seat. The deal they're giving me is 5500 down and 299/mo for 36 months for 12K. Is that a good deal? Also, can you lease a pre-owned vehicle?
Thnx!
You can lease a pre-owned car, but in almost all cases it is cheaper to lease a new car.
You really need to learn about leasing before you jump into one. HERE is a very good site for the leasing newbie.
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2014 Q50 RWD
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Car_man
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Car_man
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It is difficult for me to say how good a deal the lease that you were quoted is without knowing what the MSRP and selling price of the car that you want are. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without knowing what these numbers are, it is difficult to tell how much of a discount you are being given.
Also, I see that the dealer is asking you for a $5,500 down payment on this lease. I personally always advise consumers against making down payments when leasing. Those who make them risk losing part or all of them if their vehicle is totaled. It is much safer to go with a zero down lease, even though it means that your monthly payment will be a little higher.
Some manufacturers offer leases on used vehicles, particularly on Certified Pre-Owned vehicles. However, given the lack of support that manufacturers usually provide on them it often turns out that it is less expensive than or costs around the same to lease a brand new car than it would cost to lease a similar used one.
Anyhow, find out the MSRP and selling price of this car and let us know. I am sure that either myself or another helpful community member will be happy to tell you what they think.
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Great site and info
Been reading a lot on here and would appreciate some feedback on this lease.
2008 Lexus Is 350
MSRP:45110
Sale Price: 39718
Invoice: 39718
Money Factor: .00120
Residual: 49%
The lease payment for 36 months with 10,000 miles a year for the 2008 IS 350 with the MSRP of 45,110 would be:
$563.47 per month with $3,199.91 due at lease signing.
The money do at lease signing is:
$563.47 (1st Months payment)
$1419.94 (sales tax of 7%)
$749.00 (Bank Fee)
$467.50 (DMV fee)
The residual seems low but I have gotten the same value from 2 different dealers.
I would not be paying the tax up front and just roll it into the payment.
The money factor is close to from both dealers. The other dealer was more expensive as they weren't selling the car at invoice.
Any feedback or suggestions is appreciated.
Manny
You would be much better off leasing a G35, you could save over $100 a month and in my opinion get a much nicer car. I have a 08 G35 and a 06 IS250 so I do know quite a bit about both cars. Yes I know I have a 250, not a 350, but the cars are pretty much the same with the exception of the HP.
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2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
I have been waiting for the perfect time to get into a new IS250. I found a car that I wanted but the money factor was to high. I qualified for the Tier 1+ credit or whatever they call it, with a money factor of .0095. I noticed in some posts from the 23rd that the money factor was .0014 with my credit Tier. My initial deal was about two weeks ago. Did the money factor change that quick or am I looking at the wrong thing? I saw one post that had a phenomenal deal which I was so close to. The money factor is what caused the price not to be the same. Can you give me the money factor and residual for an 08 is250RWD and an 09?
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Picked up the car today. Is 250 RWD, 18" Wheels w/ summer tires, Nav, Prem Pkg, Cargo Net, Trunk Mat, Wheel Locks. Paid, 33,200. Payments are $1000 total drive off, 36 mo, 12k at 474.66 including tax. Did we get a good deal?
IS 250 base model
2009 model
$2500 down plus fees/taxes (comes to about $3500 due at signing)
no security deposit
$369/mo plus taxes
12000 miles/year
don't know the money factor
Car_man
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Looking for the MF and residuals for 10kmiles/year for 36 months on the 2008 and 2009 IS250 and IS350. Thanks!
2009 IS 250 Lease Offer
349 mo. 36 mos.
2999 due at signing
excludes official fees, taxes, and dealer charges. No security deposit required.
[1] Available on approved credit to qualified customers through Lexus Financial Services and participating Lexus dealers on a new 2009 IS 250. Not all customers will qualify. Offer based on MSRP of $34,200 for IS 250, including delivery, processing and handling. 36 monthly payments total $12,577 for IS 250. Monthly payment may
[2] vary depending on final price of vehicle & your qualifications. You pay maintenance, insurance, excess wear & tear & $0.25 per mile over 12,000 per year. Lease-end purchase option price $18,810 for IS 250 plus taxes & fees. See dealer for lease program details. Must take delivery by 1/5/09. This offer is available in the Lexus Western Areas.
Is this a good deal (assuming I am in the top credit tier)? Also, is this the AWD or RWD model?
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Just playing with some rough numbers, it appears to me as though the dealer would have to give you a $2,500 discount on this car to arrive at this lease payment. An '08 IS 250 with an MSRP of $34,200 probably has a spread of around $4,000 between its MSRP and its dealer invoice price. A dealer discount of $2,500 is equivalent to around $1,500 over dealer invoice, which isn't terrible, but probably can be beaten by a savvy consumers who shops around...especially in a competitive market like Los Angeles when things are as slow as they are in the industry right now. Shop around and shoot for $500 over invoice and see what happens.
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MSRP $34,200
Base Cap Cost $32,200
Additional Lease Costs
Dealer Acquisition Fee $750
Extended Warranties $-
Gross Capitalized Cost $32,950
Capitalized Cost Reductions
Down Payments $2,999
Trade In Allowances $-
Net Capitalized Cost $29,951
Lease Terms and Taxes
Residual Value $19,152
Money Factor 0.001
APR 2.4%
Term of Lease 36
Sales Tax 8.25%
Calculation of Lease Cost
Depreciation $10,799.00
Finance or Rent Charge $1,767.71
Sales Tax on Lease $1,036.75
Total of All Payments $13,603.46
Total Lease Payment $19,346.54
Sales Tax Due on Down Payment $247.42
Calculation of Monthly Lease Payment
Monthly Lease Payment $349.08
Sales Tax on Lease Payment $28.80
Total Monthly Lease Payment $377.87
Please keep me informed of the new Rusnak deal.
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MSRP $44119
Selling $40471
Residual 46%, 0.0009MF
$280 in fees... $1000 out the door (including first month payment+title)
36mo, 15K lease $686.55 (7% tax included)
I added it up myself and came out with $20 less than that. I figure at invoice I should get it to $38K and change...
Had anyone gotten it near invoice? Its November so the 08s are being cleared out... if I can get invoice it should push the rate to $593 a month right (just 1st mo payment out the door... how much it "titling" anyways)?
$1700 down inc first month payment
MSRP 40,643
Selling Price 37,440
Invoice 36,017
Residual .55
Money Factor .00105
$518/mo incl tax
Does this at all sound like a decen deal?
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2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
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ends up being $617 if i use a dealer acquisition fee of $750. is that fee negotiable? Its an extra $22 a month if its in there... $595 without that fee. Anyone get a lease without that fee?
It's 12,000 miles and the price on the car is 34,190
thats with a 7% tax rate.
if the 412 is WITHOUT tax... then they are taking about $2000-2200 off the price
The MSRP for the car was $34,190. I just signed the lease with 0 down, 625 due at signing. the monthly payments are $405 (including tax). In my lease agreement it states gross capitalized cost: $31,622
I guess I made a good deal?
is250, tungsten, auto, prem package (heat/vent seats, cargo tray, trunk net, wheel locks, mud flaps, walnut wood trim)
-$1500 total drive offs
-$390 (tax incl)/mo
-36 mos/12k mi yr
Cost negotiated for vehicle $30K. Good deal? LOVE the car
$600/mo taxes included (6.75%), aquisition fees rolled in.. first month due + plates/doc ($475) + $150 "down payment" = $1225 OTD.
Sticker $45,295 (IS350, Luxury Plus (18"), Nav, Mark Levinson, Pref Accessory), Black on Black
Negotiated Price $39000 (Invoice: $39650) + Aquisition Fee ($39750 OTD).
Im pretty happy with it
Sticker $36,022 09 IS 250 AWD
48 months lease term
$18,000 miles per year
$1000 at signing (inclcudes first payment and plates)
$500 per month including taxes
$13,536 purchase option
No money factor given
MF should be .0009
I dont know how many they have on their lots.. but IS250AWDs seem to be abundant here in Columbus. Call around and tell them you got an offer for $475 a month and see if someone matches that in the area.
But if that is $500 with just a 38% residual, then they must be heavily discounting the car, by something like $2800 before aquisition fees.
just remember you will be well out of warranty by lease end.
You will pay $18307 over 3 years if you do it this way.
you will pay $18438 over 3 years with a payment of $499... but you make $282 over the 3 years with the $3250 invested @ 5% interest (calculated including a monthly withdrawal of $91... or $3250/36months)... so you will come out AHEAD by not putting a down payment. so there is NO NO NO reason to put a down payment on this car. keep the $3250 and spread that out over 3 years instead of giving out a lump sum up front. it will be easier on the wallet now and after 3 years.
I leased an 08 IS350 for the equivalent of about 400 under invoice. then again a 250 AWD might be selling better than an is350 these days. call around, make an offer, if they say no then leave your name and number and move on the the next dealer.
do it by phone, its way faster. just ask what they have, if they have a car you like then ask for the options it has and tell them you will call them back. look up the invoice for that vehicle on edmunds.com or kbb.com (kbb sometimes has more of the options listed than edmunds), and see what the invoice comes out to. make sure to include ALL options and the destination charge, and the LVA fee some add in. then call back with your offer of $1000 below invoice.
Dealer 1
2009 Lexus IS 250
Options: HID headlamps, navigation, premium plus package, & preferred acc. pack.
Color: Red
MSRP $39,795.00
Our Internet Price is: $36,126.00
I have received other prices from dealers with Navigation + Premium package for $35.9K and $36.9K..What price should I be aiming for? I will be leasing
Car_man
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