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Lexus LS 460 Lease Questions

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Comments

  • topgun7topgun7 Member Posts: 412
    "Should I wait until a couple of months before my lease expires or start talking with my dealership now"

    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...
  • oghowieoghowie Member Posts: 60
    Does anyone have the LS460 MF and Residuals for June 2008? I'm looking to get the best deal for my dad.

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi oghowie. You never mentioned how long you want to lease this car for or what mileage allowance you need. 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. According to the latest information that I have seen, Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a base 2008 LS 460 with 15,000 miles per year are .00235 and 50%, respectively for consumers who qualify for its Tier 1+ credit tier.

    Car_man
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  • oghowieoghowie Member Posts: 60
    Hi Car Man,

    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.
  • lexusleaselexuslease Member Posts: 1
    I haver never leased before and am interested in becoming educated. One thing I was curious about was if the lease payment relates to the amount of use, i.e. depreciation, would it mean that by leasing a couple year old certified used Lexus LS, say 2007, the difference between the cap and the residual would be much less and therefore the lease payments would be a lot lower than if you went for a new model lease.
  • woppenhewoppenhe Member Posts: 61
    It depends on howw good a negotiator you are, but it should work out that way. In leases you are paying for the depreciation and for the cost of the loan. The less of each, the better off you are.
  • alfealfe Member Posts: 4
    I wish to lease a 2008 LS 460 with Navig/Mark Levinson, comfort package, intuitive park assist, and automat power door close options. What have been the best deals in the Chicago area for a 36 or 39 month, 12 K miles/yr lease?

    alfe
  • 49ercarguy49ercarguy Member Posts: 1
    I am in California and looking to lease an LS 460 I have always leased and bought with Fresno Lexus in the past. I am right in the middle so going to San Francisco or LA areas would not be a problem for me. I have quote from Interstate Auto Leasing for 1190 w/taxes a month with zero down. It is a 36 month lease with 15K miles a year and comes with the Mark Lev sound system upgrade. I want zero down because I am self employed and can get a tax write off the monthly payments but not the down payment. What have your heard about the best deals in California?
  • oghowieoghowie Member Posts: 60
    Hi,

    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!
  • topgun7topgun7 Member Posts: 412
    "What have your heard about the best deals in California? "

    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...
  • oghowieoghowie Member Posts: 60
    Nevermind, got the info from LeaseCompare:

    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
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey oghowie. Just in case you haven't signed a lease on the LS that you're interested in yet, Lexus enhanced its lease program on it slightly on July 25th. Lexus Financial Services' buy rate lease money factor for it is now .00220 for consumers who qualify for its Tier 1+ credit tier. The residual values are the same.

    Car_man
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  • bandjbandj Member Posts: 2
    Car_Man, can you update me on the latest money factor and residuals for 2008 LS 460 regular wheel base? I am looking to lease this weekend and take advantage of the model year close outs. Thanks.
  • tasltasl Member Posts: 1
    I am looking to lease a Lexus LS460 fully loaded version in Tennessee.
    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.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I sure can, bandj. Lexus Financial Services' lease program for this car varies by term and mileage allowance. You never mentioned what either of these variables are, 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. LFS' current buy rate lease money factor and residual value for a 36 month lease of an '08 LS 430 regular wheel base with 15,000 miles per year are .00220 and a terrible 39%, respectively for consumers who qualify for its "Tier 1+" credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi tasl. I am sure that either myself or another community member would be happy to work up a sample lease payment on the car that you are interested in for you. However, in order for us to do so, we need you to provide the full MSRP and approximate selling price of the car that you are interested in. You can look up this car's MSRP and True Market Value in the New Vehicle Pricing section of Edmunds.com. You may be able to get an idea of how much you should pay for this car right now by visiting the "Lexus LS 460 Prices Paid and Buying Experience" discussion.

    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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  • viperxgtx2000viperxgtx2000 Member Posts: 3
    Does anybody have the new numbers for October? Will it be cheaper to lease an 09 LS460 than an 08? Does Lexus have any specials going on right now? Thanks, this will be my first lease.
  • eights38eights38 Member Posts: 145
    viperxgtx2000,

    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
  • viperxgtx2000viperxgtx2000 Member Posts: 3
    Thanks for your response Matt. I am currently looking to lease a Lexus but do not want to deal with my local Lexus dealer because of how their service is.

    Does anyone know of any good websites that can negotiate a lease and deliver the vehicle?
  • tonym2tonym2 Member Posts: 5
    I have worked successfully with carsdirect.com. You go online and select your model and options, their price is shown online right away. If you accept it, they negotiate with a dealer and the car can even be delivered to your door (dealer dependent). Technically they are brokers, who have bulk deals with the fleet managers at dealerships. Hope that helps.
  • tbrooktbrook Member Posts: 1
    2008 Lexus LS 460 is $950 incluyding tax
  • viperxgtx2000viperxgtx2000 Member Posts: 3
    I'm getting quoted $1,100 per month including tax with a car with an MSRP of $69500, is this a good deal? The only money down is about 2,000 which includes the security deposit and first months payment.
  • alfealfe Member Posts: 4
    What part of the country are you in? I don't know if you know this, but you can substantially reduce your lease payment by putting down at signing up to 9X ytour monthly lease payment as a security deposit which you get back fully at the end of your lease. I did this and reduced my lease payment by 7.6% of the total security deposit! Not a bad return and it is non-taxable. You can't get that from a CD, bond or money market fund. All you need to do is to put down around $9000 and you will reduce your monthly lease payment by around $63.

    ALFE
  • topgun7topgun7 Member Posts: 412
    Car_man, do you have any info on the December to Remember events for LS460 SWB? I am looking to lease either an 08 or 09 LS460 for 36 months 15K mi/year in California. I understand that 08 still have 4k dealer cash (but the choice of color and como is limited at this time) but 09 should have a higher residual. I wonder if the higher residual for 09 is enough to cover the potential 4K additional discount for an 08.
  • leo7leo7 Member Posts: 3
    I'm looking to lease LS 460 2009 SWB AWD in NJ.
    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.
  • topgun7topgun7 Member Posts: 412
    this afternoon from Lexus of Sacramento. LS460 with comfort plus, intuitive parking, one touch open/close trunk and power door closer, and trunk mat, wheel lock etc. MSRP 75765. Here is the term...

    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..
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey topgun7. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2009 LS 460 2WD SWB with 15,000 miles per year are .00250 and 47%. The numbers for an otherwise identical lease of a 2008 model are .00190 and an atrocious 40%.

    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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  • topgun7topgun7 Member Posts: 412
    "On December 2nd, Lexus raised its dealer cash incentive on the 2008 LS 460 from $4,000 to $6,000"

    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.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem, topgun7.

    Car_man
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  • rkakoraievrkakoraiev Member Posts: 1
    Hello Guys - I have never leased a car before and would like to lease a LS460 and was wondering what is considered a good deal today - I have execellent credit (750 +) so I would be considered a Tier 1 customer. I am looking to get a fullyloaded one and was wondering if anyone knows of any good deals - Is it possible to do all negotiations on online and have the car delivered to me? I appreciate all the help guys!!!
  • docmridocmri Member Posts: 25
    Car man,
    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
  • docmridocmri Member Posts: 25
    Car man,
    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
  • eights38eights38 Member Posts: 145
    Hi docmri,

    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
  • docmridocmri Member Posts: 25
    Hey..
    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
  • eights38eights38 Member Posts: 145
    Hi docmri,

    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
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome rkakoraiev. Since you are new to leasing, 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.

    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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  • richzrichz Member Posts: 160
    Can someone please give me the money factor, residual, etc. for the 2009 LS460 for February? I'm most interested in 36 months / 12k miles/yr. Any trunk money on this car or incentives for current Lexus lessees? Thanks.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi richz. Here's the information that you're looking for. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2009 LS 460 with 12,000 miles per year are an unattractive .00285 and 44%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    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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  • richzrichz Member Posts: 160
    Thanks, appreciate the info.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, richz.

    Car_man
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  • eclipse2eclipse2 Member Posts: 64
    The car is $75,544 MSRP They are selling it to me for $68,500 Car_man can you help me on where I should be on this? I'm in NJ the dealership is in PA Thanks
  • eclipse2eclipse2 Member Posts: 64
    also 12k miles a year 36 or 42 months thanks again!!
  • eclipse2eclipse2 Member Posts: 64
    Hey can anybody help me on this one!! I'm getting a price of $68,500 on a 2009 LS460 AWD with the Mark Levinson! The MSRP is $75,544 and he is telling me for 36 months 12k miles MF .00210 and the res. 44% or I can have 42 months 12k miles 39% I'm going in tomorrow and I want to make sure I get a good deal... Thanks
  • bmlexusbmlexus Member Posts: 755
    Hello, I can't answer your question, but just wanted to ask, how old are you, since everyone always talks about the LS460 an older persons car, just wanted to know.
  • richzrichz Member Posts: 160
    I can't help you much but try and find out if the money factor he is quoting you is marked up at all. I would guess it is fine since I recall it is usually around .00210 but always good to make sure. My initial hunch is that he is not discounting the car enough from MSRP. Once you confirm the money factor and figure out what other people are getting off MSRP then you can calculate your monthly payments yourself.
  • eclipse2eclipse2 Member Posts: 64
    Thanks for the tip!!
  • eclipse2eclipse2 Member Posts: 64
    I'm 45 I never heard that one before...Plus you are as old as you feel!! lol I have a Lexus IS-F too so I guess that is a young person car... :shades:
  • twan88twan88 Member Posts: 1
    its this great site called www.leaseguide.com its a great calculator just with the information you provided i calulated the payments for my state.
  • richzrichz Member Posts: 160
    No problem. Unfortunately I haven't found a good resource for determining what the money factor from lexus financial is and the residuals, etc. I have found good resources for BMW and Mercedes but never had luck for Lexus. Edmunds doesn't always have all the trunk money/incentives listed so Lexus may be offering some support to dealers but I don't know how to find out.
  • eclipse2eclipse2 Member Posts: 64
    I spoke with about 4 dealers and $68,500 from 75,544 was the best I could get! the next best was $69,255 when I told them I could get it for $68k they said buy that one thats a good price we can't do it. I was gonna buy it yesterday but I want to make sure I'm getting the best price plus MF .00210 for 12k miles 36mon 44% or 42mon 39%
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