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Lexus LS 460 Lease Questions

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  • alfealfe Member 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 Member Posts: 160
    What's the invoice price on the car? I wouldn't pay much, if any, over invoice in this market.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    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 Member Posts: 38,514
    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 Member 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 Member 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 Member 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 Member Posts: 38,514
    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 Member Posts: 38,514
    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 Member 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 Member 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 Member Posts: 38,514
    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.

    Car_man
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  • spicytunaspicytuna Member Posts: 3
    What are the July MF & Residuals, assuming 3 year lease and 12000 miles per year. TIA
  • mahamaha Member Posts: 11
    This too good to be true? What's the catch?

    http://www.swapalease.com/VehicleSearch/VehicleDtlL.asp?year1=&year2=&make=Lexus- &model=LS+460&category=&state=&zipcode=&zipDistance=&begPayment=&endPayment=&beg- Price=&endPrice=&BegMonthsRemaining=&EndMonthsRemaining=&BegMilesPerMo=&EndMiles- PerMo=&recent_list=&forSale=&Country=&ListingType=&ExtColor=&IntColor=&Engine=&T- ransmission=&showIncentive=&showNewLease=&leaseCompany=&showOnlyDealer=&DUID=&re- sultsPerPage=10&page=1&sort=3&vehicleID=475010
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    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 Member 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 Member Posts: 412
    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 Member Posts: 412
    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 Member 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 Member Posts: 12
    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
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    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 Member Posts: 12
    I am looking for 36 months 12000 miles per year.
    Thanks Car Man!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    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 Member 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 Member Posts: 38,514
    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.

    Car_man
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  • jsocjsoc Member 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 Member Posts: 38,514
    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 Member 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 Member Posts: 38,514
    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.

    Car_man
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  • ejed09ejed09 Member 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
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey ejed09. It's no bother at all. Lexus Financial Services' July buy rate lease money factor and residual value for a 36 month lease of a 2010 LS 460 RWD with 12,000 miles per year are .00175 and 52%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    The numbers for the AWD version of this car are exactly the same.

    Car_man
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  • ejed09ejed09 Member Posts: 5
    Super! Thanks again for the info Car Man!
  • ejed09ejed09 Member Posts: 5
    Hey Car Man:

    I received this lease quote from my local Lexus Dealer. Could you tell me if its a fair deal?

    48 month/ 12,000 mile Lease

    2010 Lexus LS460 AWD

    - MSRP $72,150
    - 928/month including tax, fees, ect (we have a 6% sales tax)
    - $5000 credit for my trade in
    - No money at signing (no down payment, sec. deposit, destination charge, ect..)
    - No first month payment (I will pay $928/month 47 times for 48 months of use)

    Many thanks again!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome ejed09.

    I see that you are considering making a $5,000 down payment on your lease using the equity that you have in your current vehicle. There's nothing wrong with trading in your current car when you lease a new one, but you would be better off having the dealer cut you a check for any equity that you have in it. Consumers who make large down payments on leased vehicles risk losing part or all of the money that they put down if their vehicle is totaled in an accident or stolen and never recovered. It's much safer to go with a zero down lease.

    I would be happy to give you my opinion on this deal, but it would be much easier for me to do so if you provided me with this car's selling price first. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without this number, is is much more difficult to tell how large a dealer discount you are being given, and in turn if there is any room left to negotiate. Let us know what the selling price is and I'm sure that either myself or another knowledgeable community member will tell you what they think.

    Car_man
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  • ejed09ejed09 Member Posts: 5
    Hi Carman,

    Im not actually sure what the negotiated price would be. I got this quote from a friend of a friend, who only gave me a monthly payment (928 including all tax and fees). He claimed this was the absolute best deal he could give. It is hard for me to gauge how this deal compares to others, since most Lexus dealership don't seem to publish any "lease specials" on the LS460. I know from the link he sent me the MSRP is $72,055 and that he valued my trade in at $5000. I'm not sure if this can help you with your evaluation of the proposed deal. In any regard, thanks again for your help so far!

    Eric J
  • topgun7topgun7 Member Posts: 412
    Hello Car_man, I am interested in leasing an 10 or 11 LS460 in California for 36 months/12k mie per year. Can you post the MF and residual value of the vechicle? I am thinking about an LS460 with ML/NAV package.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey topgun7. Lexus Financial Services' December to Remember buy rate lease money factor and residual value for a 36 month lease of a 2011 LS 460 RWD with 12,000 miles per year are .00155 and 53%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    The numbers for an otherwise identical lease of a 2010 model are a less attractive .00210 and 49%.

    The program for the 2010 model is less attractive, but Lexus is providing $4,000 dealer cash on it right now.

    Car_man
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  • topgun7topgun7 Member Posts: 412
    Thanks Car_man for the 36 months 12k mi number. I just got a $1500 coupon from Lexus for the engine recall on our 08 LS. I was wondering what is the 2 yr 12K mi/yr MF and Residual? Zag.com has a couple dealer in our area (N. California) that will sell/lease an 11 LS460 for about $7600 below MSRP (MSRP 74665, sales price 66931).. I want to run some number to see how much more will a 2 yr lease number over 3 yr lease. Thanks.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome topgun7. I didn't know that Lexus is providing $1,500 coupons to owners who were affected by the engine recall. Interesting.

    Lexus Financial Services' December buy rate lease money factor and residual value for a 24 month lease of a 2011 LS 460 with 12,000 miles per year are .00155 and 60%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    Car_man
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  • topgun7topgun7 Member Posts: 412
    edited January 2011
    You're welcome topgun7. I didn't know that Lexus is providing $1,500 coupons to owners who were affected by the engine recall. Interesting.

    And those with extended warrenty get another 500.. I made the appointment in Feb to do the recall on my 08 but decided to sell the car instead.. I will let someone else worry about whether it is a good idea to have a rebuilded engine done by mechanics that is not specialize in it.. It will take about 1 weeks for the the valve spring replacement. This particular recall is costing Toyota quite a bit of money. I picked up a fully loaded M37 to replace the LS a couple weeks ago (The LS will cost about 930ish a month vs M37 for 590ish for 36 months 12k miles) and so far I don't miss anything from the LS yet.. right now I have a 3000 GM card earning offer by GM to use by end of Jan and a 1500 rebate from Lexus to be used before end of 12/11 and I have a 07 G35 that I can get rid of. So I am sure I will start asking more question soon. Thank you very much for your help..
  • newtolease73newtolease73 Member Posts: 1
    Hello,
    I received this quote on LS460 AWD. I am looking for a base model with no options, but a couple of dealers state that it will be hard to find a RWD with no or little options. They say most are AWD with some options such as navigation.

    Here is the quote - wondering if this is fair.

    48 months with 10,000 miles per year.
    MSRP: $71910 (AWD, has comfort package, cold weather package, Navigation value edition, and Mats).
    Cap Cost: $67809
    Residual: 46%
    Money Factor: .00190
    Monthly payment: $1037
    Total due at signing: $2300
    Tax rate is 8.875% (NYC).

    That's all the info I got.... Any help at this forum would be greatly appreciated.
  • gkd2gkd2 Member Posts: 2
    Car_man, do you have the money factor and residual rates on the LS for March, 2011. My lease expires next week and I have to negotiate a new deal. Also, is lexus running any deals, rebates, etc i should know about on the LS??

    THANK YOU!!
  • nceencee Member Posts: 419
    edited March 2011
    Hi. Ok, so Fill in a few blanks on leasing please.

    - What if you are a traveling salesman and you know you'll put on more then 12, 15,000 miles a year?

    - Is purchasing the car at the end of the lease economical?

    - What extra do you pay to purchase the car after the lease is up?

    Or, if I can swing it, should I just purchase out-right?

    LS 460 11'

    Skip
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you're looking for gkd2.

    Lexus Financial Services' March buy rate lease money factor and residual value for a 36 month lease of a base 2011 LS 460 with 15,000 miles per year are .00190 and 52%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    Other than $1,000 owner loyalty cash, I don't believe that Lexus is currently providing any cash incentives on leases of this car.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Skip. Consumers can lease vehicles with more than 15,000 miles per year. In order to do so, they need to purchase additional miles on a per-mile basis. It is less expensive to do so at lease-signing than it is to wait until lease-end and have to pay an excess mileage penalty.

    Whether it makes sense to purchase a vehicle at lease-end or not depends upon what condition it is in and what its purchase option price is.

    If you know that you are going to put a ton of miles on your vehicle, you may want to consider purchasing instead of leasing.

    Car_man
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  • gkd2gkd2 Member Posts: 2
    Thank you Car_Man! Does the term "buy rate" mean that that is Lexus's rate to the dealer or is it the rate I should expect to get. In other words, should i hold firm to negotiating the .0019 rate?

    thx!!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome gkd2. The term "buy rate" means that this is the lowest available money factor on this particular model right now. Dealers from time to time try to mark up banks' buy rates to add additional hidden profit to deals. This can usually be avoided by savvy consumers who know what their vehicle's buy rate is.

    Car_man
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  • tomone1tomone1 Member Posts: 1
    Hi there,

    Just looking for an update on April 2011 rates. I'm looking at a 48 mo lease and 15K miles per year. Any updates would be greatly appreciated.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    edited April 2011
    Here you go tomone1. Lexus Financial Services' April buy rate lease money factor and residual value for a 48 month lease of a 2011 LS 460 with 15,000 miles per year are .00180 and 41%, respectively for consumers who qualify for its top credit tier.

    Car_man
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  • dealseeker10dealseeker10 Member Posts: 1
    Can anyone advise me on lease deals for May 2011- ie money factor, residual, etc...Any fixed lease deals on LS 460 for May? Thanks.
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