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Lexus LS 460 Lease Questions

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  • alfealfe Posts: 4
    Are you aware that you can put down up to 9 times your lease payment in cash at signing and substantially reduce your monthly lease payment (you get all of the money back at the end of the lease)? I did that when leasing my 2008 LS460. The savings in my lease payment came to over 7% per year on the money I put down. ALFE
  • richzrichz Posts: 135
    What's the invoice price on the car? I wouldn't pay much, if any, over invoice in this market.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi eclipse2. Let's work up a sample lease payment on this car and see what we come up with. According to my calculations, if you were to lease a base (aka 2WD SWB) 2009 Lexus LS 460 that has an MSRP of $75,544 and a selling price of $68,500 through Lexus Financial Services right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $1,187 assuming that you qualify for its top aka Tier 1+ credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey eclipse2. The money factor that you were quoted is too high. In your area right now, Lexus Financial Services' buy rate lease money factor for the '09 LS 460 is .00165 for consumers who qualify for its top credit tier. Make sure that the dealer that you are working with doesn't try to mark your car's factor up to add additional hidden, back-end profit to your deal.

    Car_man
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  • eclipse2eclipse2 Posts: 64
    Thanks car_man I didn't buy it yet it didn't feel right! is that .00165 only for the 2wd? the one I was looking at had awd. and what do you think about $68,500 could I get more off or was that good? thanks again for all your help!!
  • furnman1furnman1 Posts: 1
    Looking for some feedback. Looks like Car_man is the man! Trying to lease a 2009 LS460 in Jacksonville FL, but dealership doesn't seem to giving out the best offer. Trying to get my monthly payment below $1100/month, but they seem to be in the mid-high $1300 range on a 36 or 39 month 15K/year $75K sticker 2009 LS 460. Should I shop in other cities, and/or wait until 2010s come out? Let me know.
  • alfealfe Posts: 4
    You won't get your payment down below $1100/month at 15K miles/yr. You will get it close to that if you put down around $10,000 security through Lexus Financial. You get it all back at the end of the lease. It works out to a pretty good return on the 10 grand. alfe
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    No problem eclipse2. Yes, the .00165 money factor included AWD models. It has since been enhanced to .00105 in the Eastern United States and 00145 elsewhere for consumers who qualify for its top credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Thanks furnman1. Lexus' lease program on the LS 460 is actually pretty good right now. I believe that its money factor on this car is the lowest that it has been all year. You might be able to get a better money factor on it by waiting until Lexus' annual "December to Remember" sales event to lease one, but perhaps not. This car's residual values might have dropped so much by then that they would eat up any money factor enhancement. there's nothing wrong with leasing an LS 460 right now. If I had my heart set on getting one I probably would. I doubt that you are going to get a better deal on one by waiting until the 2010s arrive.

    Car_man
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  • kmbaerkmbaer Posts: 20
    Car_Man,

    I have been trying to get residuals and money factors for '09 ES350. We are in the South Florida market. Any help will be appreciated.
  • rbscrbsc Posts: 1
    I am getting prices for a lease on on 2009 460 L AWD . So far the best deal I have been quoted is $1,292 w/o tax for 36 months 15k the car is smoky granite with a black interior. It has the upgraded Levinson with 19 speakers, Telios wheels and the chrome pillars. How does this deal sound ?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi kmbaer. This particular discussion is for community members to talk about leasing the Lexus LS 460. Please post any questions that you have about leasing an ES 350 in the "Lexus ES 350 Lease Questions" discussion. Thanks.

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  • spicytunaspicytuna Posts: 3
    What are the July MF & Residuals, assuming 3 year lease and 12000 miles per year. TIA
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello spicytuna. 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 2009 LS 460 with 12,000 miles per year are .00075 and 44%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    Car_man
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  • andy_wandy_w Posts: 2
    Hi All,

    I'm considering to purchase an LS. The salesman told me the new LS lease program that is effective this month. For an 09 AWD model with MSRP $72,405 (I guess with this price it probably includes most options, excluding Mark Levinson audio), the lease price is $869/mo with 10K miles/yr, $2800 down. For 12K miles/yr, $30 is added per month. I have seen the previous postings on the lease price, so this price seems quite attractive. Still I'd like to hear opinions of experts here. Do you think this price is worth to rush in, or there is still room to negotiate (the salesman said it's "non-negotiable".) And would this price justify the lease over buying?

    Thanks for the help,

    Andy
  • topgun7topgun7 Posts: 409
    Thanks furnman1. Lexus' lease program on the LS 460 is actually pretty good right now. I believe that its money factor on this car is the lowest that it has been all year. You might be able to get a better money factor on it by waiting until Lexus' annual "December to Remember" sales event to lease one, but perhaps not.

    I second that . I leased an 08 LS460 with ML/NAV, MSRP 75+K with a cap cost of 59+K in December 08 (don't laugh, Lexus had an 9000 delear cash last year when the economy hit the fence) and I put 9 lease payment to reduce the money factor. My monthly payment is in the $970+ + tax range.. The residual was set very low. After 3 years, 15k mile, I can purchase the car for 29K+.. The way Lexus set the December to remember lease rate is to make sure that your payment is about the same as in Nov. So they gave you lower money factor but lower residual as well.. If you want to buy the car at the end of the lease, then by all mean wait and see what Dec bring.. If you don't care about buying the car, your payment may not be too much different and you get a better selection of color and equipment combo...
  • topgun7topgun7 Posts: 409
    And would this price justify the lease over buying?

    It is a fairy loaded question and probably will take you a while to compare all the minor details.. If you can write off part of the lease because you use it for business, lease is the answer. However if you don't use the car for business, it boil down to you cost of money in lease vs purchase (i.e. the cheapest interest rate vs money factor that you can get), the price lease vs purchase (sometime you can get a better price one way or the other if manufacturer run special rebate for one program but not the other), and the tax treatement of lease vs purchase (in some states, tax is only calculate on the monthly payment e.g. California. In other states, tax is calculate on the entire sales price. In yet other states, you can deduce your trade in when you calculate sales tax on purchase but not lease).. Then you have to figure how much is gap insurance worth to you. Every Lexus lease (and most manufacturers' lease), they throw in a gap insurance where if you have an accidence during the lease period, you can hand the manufacturer your insurance check and walk away from the lease if you have an accident that total the car. If you purchase the car, it is anyone guess as to whether the insurance check will cover the real worth of the car at the time of accident.

    In 03/04, I leased my son and daughther and 04 Honda coupe in California and I bought myself and 04 Honda sedan in Arizona. And it was down to the different tax treatment between California and Arizona because I have a car to tarde in..

    My take is go with any special that a manufacturer give you if you don't use the car for business.. If they are promoting lease then go with the lease.. If they are promoting purchase then go with the purchase..
  • gryangryan Posts: 35
    I am looking at an LS 460 also and the dealer told me today that he did not believe the december promotion will help on the LS, mostly the IS, ES, GX
    hope that helps
  • qwazrqwazr Posts: 11
    Car Man,
    Could you provide the current money factor and residual for a 2010 LS 460 AWD SWB? Also, the same for a 2009. My current 2007 LS 460 lease is up in January and I am trying to decide if I should move now or wait till next month.
    Thanks
  • Hi qwazr. 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 2010 LS 460 AWD SWB with 15,000 miles per year are .00245 and 51%, respectively for consumers who qualify for its top aka Tier 1+ credit tier.

    You never mentioned how long you want to lease for or what mileage allowance you need, so I had to make some assumptions. Let me know if you want something different.

    Car_man
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  • qwazrqwazr Posts: 11
    I am looking for 36 months 12000 miles per year.
    Thanks Car Man!
  • No problem, qwazr. LFS' 12,000 mile per year residual values are 2% higher than its 15,000 mile per resids.

    Car_man
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  • mcitron1mcitron1 Posts: 6
    Now that it is March I am looking for the 12,000 mile per year 36 month lease rate on the LS460 (not the AWD).
    Thanks Car Man for any help
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello mcitron1. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a base 2010 LS 460 with 12,000 miles per year are .00220 and 53%, respectively for consumers who qualify for its top aka Tier 1+ credit tier.

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  • jsocjsoc Posts: 1
    For April 2010, what are the residuals and money factors on 2010 LS460 (Standard Wheelbase RWD) for Tier 1+ group? 36 month lease with 12,000 or 15,000 miles/year.

    Thank You.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello jsoc. Lexus Financial Services' April buy rate lease money factor and residual value for a 36 month lease of a 2010 LS 460 standard wheelbase RWD with 15,000 miles per year are .00220 and 51%, respectively for consumers who qualify for its top aka Tier 1+ credit tier.

    The residual value for a lease with only 12,000 miles per year is 2% higher.

    Car_man
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  • blastphemyblastphemy Posts: 34
    Hi, Car_man! What are the July money factor and residual value for a 2010 Lexus LS460 RWD @ 36 months w/15,000 miles per year? Also, if you know of any current conquest incentives, I'd appreciate the information.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here you go. Lexus Financial Services' Jul buy rate lease money factor and residual value for a 2010 LS 460 RWD with 15,000 miles per year are .00175 and 50%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    I am not aware of any cash incentives on this car at this time.

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  • ejed09ejed09 Posts: 5
    Hi Carman,

    Sorry to ask this question again, but what is the money factor and residual for 2010 ls 460 with 12k per year (for July). Also is there a difference in these numbers for RWD and AWD.

    Many Thanks!

    EJJ
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