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Lexus LS 460 Lease Questions
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If you want a new car now (and probably pay a little bit higher monthly price, then it is a worthwhile thing to explore). I leased an 02 LS430 and 02 SC430 before and now our lease for an 05 Mercede CLK55 will expire at end of June. Mercede also offers a pull ahead program when they will pull ahead 5 lease payments. I would imagine the Lexus program is similar. The thing to concern about is the lease payment for the new LS460.. Depending on the equipment level and dealer discount, you may be looking at a monthly payment higher than your current one. We end up didn't take advantage of the Mercedes pull ahead program, but we did talk to our salesman about some of the cars that we are interested in...
Thanks!
Car_man
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Yes, we're interested in the 36month lease and my dad is a Tier 1+ customer.
However, I just found out his lease isn't up until July, so I think I may have to ask you the same question next month.
Thanks again for the info.
alfe
We're finally about to pull the trigger on a lease this month so could I please get the MF and residuals?
We're looking at 3 yrs, 15k
Tier 1+ Credit
Thanks again!
I am living in the greater S.F. bay area and have been waiting for the 09. I think the residual will be better with the 09 and hopefully it may have some minor improvement (espeically the wind noise issue). Have you look into the multiple deposit program from Lexus Financial? I think they change the rule to allow 9 deposit with each deposit lower the money factor by 0.00007 (used to be each deposit lower the money factor by 0.0001). Should reduce your monthly payment by 80 to 100 or so...
2008 Lexus LS460 – 7/18/08
24 Month – Residual 53% of MSRP – .00245 Base Rate
36 Month – Residual 46% of MSRP – .00245 Base Rate
48 Month – Residual 36% of MSRP – .00245 Base Rate
60 Month – Residual 27% of MSRP – .00245 Base Rate
2008 Lexus LS460 LWB – 7/18/08
24 Month – Residual 50% of MSRP – .00245 Base Rate
36 Month – Residual 43% of MSRP – .00245 Base Rate
48 Month – Residual 33% of MSRP – .00245 Base Rate
60 Month – Residual 24% of MSRP – .00245 Base Rate
Car_man
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Considering I am Tier 1 customer, how much should I consider to be a great deal for mw for 15000 miles/yr for 36 months long and short versions.
Any advice would be greatly appreciated.
Car_man
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Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2008 Lexus LS 430 long wheel base with 15,000 miles per year are .00220 and 39%, respectively for consumers who qualify for its "Tier 1+" credit tier and pay a security deposit at lease signing.
You can plug the pricing information, along with the money factor and residual value into the formula that is outlined in the following article to get an idea of what sort of monthly payment to expect: Calculate Your Own Lease Payment. Or if you'd like, post that information here and I am sure that either myself or another community member will be happy to crunch some numbers for you.
Car_man
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I believe that the money factor for a 2008 Lexus LS460 is 0.00265 with a 42%, 39%, and 32% residual for 12,000 miles per year and 36, 39, and 48 months, respectively. Add 1% to the given residuals for 10,000 miles per year and subtract 2% to the given residuals for 15,000 miles per year. I do not believe that Lexus has released 2009 LS460 lease rates.
Matt
eights38@gmail.com
Does anyone know of any good websites that can negotiate a lease and deliver the vehicle?
ALFE
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.
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..
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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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.
Car_man
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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
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
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
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
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
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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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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Car_man
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