2014 Lexus IS 350 Lease Questions

13

Comments

  • cnote2cnote2 Member Posts: 138

    27m 10k lease of 350 fsport awd in PA, any lease cash?

  • MichaellMichaell ColoradoModerator Posts: 193,320

    @cnote2 said:
    27m 10k lease of 350 fsport awd in PA, any lease cash?

    70% and .00085. $500 lease cash and Lexus makes the first payment for you.

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  • yookentcmeyookentcme Member Posts: 13
    Hello! So...let me get this straight..at current month's residual and mf, on an is350 f sport awd sticker at $50500.. if i bring the selling price down to 43500, i am able to walk away with a payment below $400/mo?? With just fees and tags and title etc for around $1500 at signing? 27mo 10k mi
  • yookentcmeyookentcme Member Posts: 13
    ..of course this is a make believe scenario..wanted to get an idea
  • buddy_77buddy_77 Member Posts: 2

    Please evaluate the following lease terms to see what money factor is and whether payment seems reasonable. How would you recommend lowering the payment if it seems high? Thanks.

  • MichaellMichaell ColoradoModerator Posts: 193,320

    @yookentcme said:
    Hello! So...let me get this straight..at current month's residual and mf, on an is350 f sport awd sticker at $50500.. if i bring the selling price down to 43500, i am able to walk away with a payment below $400/mo?? With just fees and tags and title etc for around $1500 at signing? 27mo 10k mi

    Yeah, but can you get the selling price down that much?

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  • MichaellMichaell ColoradoModerator Posts: 193,320

    @buddy_77 said:
    Please evaluate the following lease terms to see what money factor is and whether payment seems reasonable. How would you recommend lowering the payment if it seems high? Thanks.

    I'm assuming that part of that $2000 goes to cap cost reduction. If so, the payments seem in line. I would confirm with the dealer that they are using the base MF of .00085, however.

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  • buddy_77buddy_77 Member Posts: 2

    @Michaell‌. Yes the 2000 is cap cost but I don't want to put anything down. I was hoping to get a zero out of pocket lease on this vehicle for under $460 for 24 months. Just not sure if that's possible without some incentive from the manufacturer.

  • rambaburambabu Member Posts: 3

    Hello all! How are you?

    I am trying to get a Lexus IS 350 F sport package in Atlanta, Georgia.

    The details are:
    IS 350 - My price $40279, MSRP $45,532, residual $32,250, MF 0.00125, zero dollars down, 9% sales tax the,12K miles P/A 24 months, the monthly payments are coming out to $445 with a lease calculator ( http://www.bankrate.com/calculators/auto/auto-lease-calculator.aspx ) and they quoted $645.

    Can you tell me if the monthly payment at $445 are good?

    Regards,
    Ram Babu

  • MichaellMichaell ColoradoModerator Posts: 193,320

    @buddy_77 said:
    Michaell‌. Yes the 2000 is cap cost but I don't want to put anything down. I was hoping to get a zero out of pocket lease on this vehicle for under $460 for 24 months. Just not sure if that's possible without some incentive from the manufacturer.

    Have the dealer break down for you how the $2000 is used - fees, taxes, down payment (cap cost reduction).

    Not sure that $460/mo with $0 out of pocket is doable.

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  • MichaellMichaell ColoradoModerator Posts: 193,320

    @rambabu said:
    Hello all! How are you?

    I am trying to get a Lexus IS 350 F sport package in Atlanta, Georgia.

    The details are:
    IS 350 - My price $40279, MSRP $45,532, residual $32,250, MF 0.00125, zero dollars down, 9% sales tax the,12K miles P/A 24 months, the monthly payments are coming out to $445 with a lease calculator ( http://www.bankrate.com/calculators/auto/auto-lease-calculator.aspx ) and they quoted $645.

    Can you tell me if the monthly payment at $445 are good?

    Regards,
    Ram Babu

    MF is being marked up on you ... base MF for IS350 is .00085. Using your MSRP and selling price, along with the base MF and 71% residual, I calculate a pre-tax payment of $393.02; with 9% tax, $428.39.

    The only thing that will affect your lease payment is the new tax system that was recently implemented in Georgia. "Ad Valorem" tax, or something like that. Not exactly sure how it works, but I suspect that the sales tax for the whole car is calculated up front and added to your cap cost. Most states simply tax the monthly payment.

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  • rambaburambabu Member Posts: 3

    @Michaell said:
    The only thing that will affect your lease payment is the new tax system that was recently implemented in Georgia. "Ad Valorem" tax, or something like that. Not exactly sure how it works, but I suspect that the sales tax for the whole car is calculated up front and added to your cap cost. Most states simply tax the monthly payment.

    Michaell, thank you very much. I did a little research on the Georgia tax thingy. Its called Ad-Valorem tax. This works just like any sales tax like in any other state. This tax is a one time payment on your purchase/lease. For 2014 its 6.75%, 2015 it will be 7% and keeps increasing as necessary, but can never be more than 9%. The difference between Georgia's tax and other state tax types is, in Georgia you don't have to pay the Ad- Valorem tax once a year on your B'day. You pay it once and be done with it as long as the car is with you.

    So, that being said, what do I tell the dealer about the MF? Can I bargain on the MF or is it set per dealer per state something like that? Can I just say, "Look man, the base MF on IS 350 is 0.00085, you are marking me up by that much, you give me 0.00085 and I walk out the lot with the car." or something along those lines? If he says it is not, where do I cite my reference for? I am going to see the car tomorrow. Super excited.

  • MichaellMichaell ColoradoModerator Posts: 193,320

    @rambabu said:
    Michaell, thank you very much. I did a little research on the Georgia tax thingy. Its called Ad-Valorem tax. This works just like any sales tax like in any other state. This tax is a one time payment on your purchase/lease. For 2014 its 6.75%, 2015 it will be 7% and keeps increasing as necessary, but can never be more than 9%. The difference between Georgia's tax and other state tax types is, in Georgia you don't have to pay the Ad- Valorem tax once a year on your B'day. You pay it once and be done with it as long as the car is with you.

    Thanks for providing the results of your research. In effect, this is no different than the taxes for leases in Illinois or Texas, where you pay the going sales tax rate for the entire purchase price of the car up front, or have it rolled into the cap cost. Illinois has passed legislation to remove this form of lease taxation, but it does not go into effect until 1/1/15.

    So, on a $40,000 car, you have to pay this ad-valorem tax in the amount of $2700 up front, or roll it into your lease amount. I guess what's different in Georgia is that you are still expected to pay sales tax on the monthly payment.

    So, that being said, what do I tell the dealer about the MF? Can I bargain on the MF or is it set per dealer per state something like that? Can I just say, "Look man, the base MF on IS 350 is 0.00085, you are marking me up by that much, you give me 0.00085 and I walk out the lot with the car." or something along those lines? If he says it is not, where do I cite my reference for? I am going to see the car tomorrow. Super excited.

    I would be a bit more polite, but that's the idea. Lots of Lexus dealers are available, so you should be able to find one of them willing to use the base MF in your lease deal.

    If they still push back, vote with your feet - and leave. You may have to pay a higher transaction price to get the base MF - after all, dealers are not the Red Cross, they are in this for profit, so trading one for the other may be the right way to go.

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  • rambaburambabu Member Posts: 3

    @Michaell said:
    So, on a $40,000 car, you have to pay this ad-valorem tax in the amount of $2700 up front, or roll it into your lease amount. I guess what's different in Georgia is that you are still expected to pay sales tax on the monthly payment.

    Michaell - a bit more research and some pointers. Hopefully this will help others in the forum too. Refer to page 19 on this document or link http://motor.etax.dor.ga.gov/motor/DealerSection/forms/pdf/MV_ Dealer_Tax_Guide_2013.pdf

    This basically says, there is no sales tax for monthly payments on lease. Though, I am guessing your one time TAVT (advalorem) can be rolled up into payments and they cant ask us to pay finance charges on the tax amount. So for a $40,000 car, the TAVT could be around $2700. If the Payments are $400 per month, then with tax rolled in the monthly payment will be $512.50 per month.

    Thank you for the help Michael

  • MichaellMichaell ColoradoModerator Posts: 193,320

    @rambabu said:
    Thank you for the help Michael

    Excellent information; thanks for providing the link to the website.

    So, tax only collected once at the beginning of the lease, either paid up-front or rolled into the cap cost which will increase the monthly payment.

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  • anthonybehimanthonybehim Member Posts: 4
    Don't know about all these numbers that you all posted but here's the deal I've been given in SoCal and wondering if it's a good deal. Looking to sign within the next 3 days.
    Is350 f sport, black on red.
    $1300 down
    10k miles/27 months.
    $421 a month.
    I think this is a good deal, let me know if it's not thanks! Much appreciated!
  • MichaellMichaell ColoradoModerator Posts: 193,320

    @anthonybehim said:
    Don't know about all these numbers that you all posted but here's the deal I've been given in SoCal and wondering if it's a good deal. Looking to sign within the next 3 days.
    Is350 f sport, black on red.
    $1300 down
    10k miles/27 months.
    $421 a month.
    I think this is a good deal, let me know if it's not thanks! Much appreciated!

    What is the MSRP and selling price? How does the $1300 break down?

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  • anthonybehimanthonybehim Member Posts: 4
    To be totally honest no idea. I believe the msrp was $48595
  • anthonybehimanthonybehim Member Posts: 4
    Selling price is 43316
  • MichaellMichaell ColoradoModerator Posts: 193,320

    @anthonybehim said:
    Don't know about all these numbers that you all posted but here's the deal I've been given in SoCal and wondering if it's a good deal. Looking to sign within the next 3 days.
    Is350 f sport, black on red.
    $1300 down
    10k miles/27 months.
    $421 a month.
    I think this is a good deal, let me know if it's not thanks! Much appreciated!

    Using the MSRP and selling price from above, along with the 70% residual for 27/10 and the base MF of .00085, I get a pre-tax payment of $410.16. If your quote of $421 includes tax, then you've got a pretty good deal in front of you.

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  • anthonybehimanthonybehim Member Posts: 4
    Thank you! Any other input on this deal? Gonna sign within the next few days!
  • kbbean08kbbean08 Member Posts: 7

    Just leased an is350 black on black with luxury package
    Msrp: 48098
    Negotiated price: 42200
    24 months @ 12 k/yr
    MF: .00085
    Residual 71%
    Price:464 including tax

    Is that a good deal? Thanks!

  • MichaellMichaell ColoradoModerator Posts: 193,320

    @kbbean08 said:
    Just leased an is350 black on black with luxury package
    Msrp: 48098
    Negotiated price: 42200
    24 months @ 12 k/yr
    MF: .00085
    Residual 71%
    Price:464 including tax

    Is that a good deal? Thanks!

    When I plug in your numbers, I get a pre-tax payment of $400.33 for 24 months.

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  • kbbean08kbbean08 Member Posts: 7

    @Michaell‌ :

    I forgot to mention that this is for $0 drive off. Our tax rate here is 8%. Does my number come out better? Thanks.

  • kbbean08kbbean08 Member Posts: 7

    Sorry Michaell. I quoted you instead of replying so my response above looks like it was your response. Not sure how to change it. My bad.

  • MichaellMichaell ColoradoModerator Posts: 193,320

    @kbbean08 said:
    Sorry Michaell. I quoted you instead of replying so my response above looks like it was your response. Not sure how to change it. My bad.

    8% tax takes the payment to $432 or so. What state is this?

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  • kbbean08kbbean08 Member Posts: 7
    I'm in California. I just looked at the breakdown and it looks like they added about $700 acq. fee. So total came out to about 42909.
  • MichaellMichaell ColoradoModerator Posts: 193,320

    @kbbean08 said:
    I'm in California. I just looked at the breakdown and it looks like they added about $700 acq. fee. So total came out to about 42909.

    OK seems a solid deal, given you are getting the base MF.

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  • thunderwoofthunderwoof Member Posts: 4

    @anthonybehim said:
    Thank you! Any other input on this deal? Gonna sign within the next few days!

    which soCal dealership is it?

  • jbhuiyanjbhuiyan Member Posts: 6
    Ok so I got this offer here for a 2014 is350 f sport awd. Just wanted to see if the numbers were fair and if you think it's a solid deal:

    27mo 10k mi/yr
    Msrp 48867.00
    Price agreed on 43914.00
    Residual 68%
    MF .000850
    Payment 450/mo tax included in pmnt

    It's 2k total out of pocket on my end. Can some please review these numbers and let me know. Thank you and much appreciated!
  • jbhuiyanjbhuiyan Member Posts: 6
    ^I'm in NY and the dealer is in CT ^
  • MichaellMichaell ColoradoModerator Posts: 193,320

    @jbhuiyan said:
    Ok so I got this offer here for a 2014 is350 f sport awd. Just wanted to see if the numbers were fair and if you think it's a solid deal:

    27mo 10k mi/yr
    Msrp 48867.00
    Price agreed on 43914.00
    Residual 68%
    MF .000850
    Payment 450/mo tax included in pmnt
    I'm in NY and the dealer is in CT

    It's 2k total out of pocket on my end. Can some please review these numbers and let me know. Thank you and much appreciated!

    Base MF, so that's good.

    How are the sales taxes being applied?

    Using your numbers, I get a pre-tax payment of $461.29/mo for 27 months.

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  • jbhuiyanjbhuiyan Member Posts: 6
    null
    I'm guessing the 2k out of pocket that I'm puting down is covering the taxes and fees
  • jbhuiyanjbhuiyan Member Posts: 6
    He actually quoted me on a 67% resid. Is that right?
  • MichaellMichaell ColoradoModerator Posts: 193,320

    @jbhuiyan said:
    He actually quoted me on a 67% resid. Is that right?

    27/10 RV on the IS350 is 70%.

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  • crnboiicrnboii Member Posts: 7

    Hi i'm getting quoted 27months/10k miles $3700 down $1700 negative equity +taxes and fees $500 a month with a .70 residual and .00085 MF is this a good deal... I feel like this isn't a good deal? Sales tax in VA right now is 4.05% the fees were $700 acquisition and $399 dealer and tags were something like $130 ish. Also the MSRP was $48,686, but the final price was $43,900 because this is a "demo" car.

  • MichaellMichaell ColoradoModerator Posts: 193,320

    @crnboii said:
    Hi i'm getting quoted 27months/10k miles $3700 down $1700 negative equity +taxes and fees $500 a month with a .70 residual and .00085 MF is this a good deal... I feel like this isn't a good deal? Sales tax in VA right now is 4.05% the fees were $700 acquisition and $399 dealer and tags were something like $130 ish. Also the MSRP was $48,686, but the final price was $43,900 because this is a "demo" car.

    Is the net a $2000 cap cost reduction? Or is part of that used for the up front costs?

    The base MF is being used which is a plus.

    $500/mo for a car that stickers for almost $49K is not too bad.

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  • crnboiicrnboii Member Posts: 7

    The up front cost was $3700 and the $1700 was used towards Cap Cost reduction. Also sorry this guy quoted me for a 48 month 10k miles and did not share the residual with me but the MF is .00085.

  • crnboiicrnboii Member Posts: 7

    @Michaell said:
    $500/mo for a car that stickers for almost $49K is not too bad.

    So, putting $3700 down is okay for this price? Also, when i went to appraise my car on Black book or w/e it shows 12k-14.4k and they offered 13k and the pay off was about 14.7k but i believe the pay off should be a little lower at the moment so looking about 14.4k pay off. I just don't feel this is a good deal.

  • crnboiicrnboii Member Posts: 7

    @Michaell said:
    $500/mo for a car that stickers for almost $49K is not too bad.

    Also, question, because this is a demo car aren't they supposed to give me a huge discount anyways? The "negotiated price was 43,900 because this was a demo car. Shouldn't I be getting below that for negotiation?

  • MichaellMichaell ColoradoModerator Posts: 193,320

    @crnboii said:
    The up front cost was $3700 and the $1700 was used towards Cap Cost reduction. Also sorry this guy quoted me for a 48 month 10k miles and did not share the residual with me but the MF is .00085.

    The base MF for the IS350 is .00085, so that is good news. The 48/10 residual is 53%.

    So, putting $3700 down is okay for this price? Also, when i went to appraise my car on Black book or w/e it shows 12k-14.4k and they offered 13k and the pay off was about 14.7k but i believe the pay off should be a little lower at the moment so looking about 14.4k pay off. I just don't feel this is a good deal.

    We don't recommend putting money down or using trade equity as a cap cost reduction ... if the car is stolen or totaled, you lose the money.

    Check the "Real World Trade In Values" discussion to get a fair assessment of your trade. You're right that you want to get the most money possible for your trade. Check with your current finance company to determine the pay off value.

    Also, question, because this is a demo car aren't they supposed to give me a huge discount anyways? The "negotiated price was 43,900 because this was a demo car. Shouldn't I be getting below that for negotiation?

    Any money you save on the transaction price for a demo will be offset by an adjustment in the residual for the miles that are on the car. It's pretty much a wash.

    However, you should use the shopping tools at the top of the page to determine the target price with incentives you should be willing to pay.

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  • thunderwoofthunderwoof Member Posts: 4

    This is what I am offered for a 2014 IS350 w. F-sport and Nav. What do you guys think?

    MSRP: 48,730. MF: .00085

    1. 36mo /10k for 2k down; 439 monthly payment; 69% residual
    2. 24mo/10k for 3k down; 376 monthly payment
    3. 36mo/10k for 3k down; 414 monthly payment
    4. 24mo/10K for 2k down; 415 monthly payment
  • MichaellMichaell ColoradoModerator Posts: 193,320

    @thunderwoof said:
    This is what I am offered for a 2014 IS350 w. F-sport and Nav. What do you guys think?

    MSRP: 48,730. MF: .00085

    1. 36mo /10k for 2k down; 439 monthly payment; 69% residual
    2. 24mo/10k for 3k down; 376 monthly payment
    3. 36mo/10k for 3k down; 414 monthly payment
    4. 24mo/10K for 2k down; 415 monthly payment

    Base MF is being used, so that is good.

    We do not recommend making any sort of down payment (cap cost reduction) - if the car is stolen or totaled, you are out that money. The only out of pocket expenses you should have at lease inception are the first month's payment and any up front fees and taxes you choose not to add to the cap cost.

    Also, we would need to know the negotiated selling price in order to model a payment.

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  • park5park5 Member Posts: 63

    Hi. Could somebody please provide me with the lease numbers for September for IS350 AWD? MF, Residual% and incentives for 27months/10k/12k/15k miles and 36months/10k/12k/15k miles would really be helpful.

    Thanks.

  • kyfdxkyfdx Moderator Posts: 197,932

    @park5 said:
    Hi. Could somebody please provide me with the lease numbers for September for IS350 AWD? MF, Residual% and incentives for 27months/10k/12k/15k miles and 36months/10k/12k/15k miles would really be helpful.

    Thanks.

    .00130 MF and 67%/59% for 27mo/36mo, 15K/yr. Add 2% for 12K/yr or 3% for 10K/yr

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  • kermitdogkermitdog Member Posts: 38

    Do you have money factor and residuals yet for 2015 models? If not, 2014 numbers would be appreciated. IS 350 RWD 36 months 15k miles. Thank you. I am assuming packages & options don't matter, correct?

  • MichaellMichaell ColoradoModerator Posts: 193,320

    @kermitdog said:
    Do you have money factor and residuals yet for 2015 models? If not, 2014 numbers would be appreciated. IS 350 RWD 36 months 15k miles. Thank you. I am assuming packages & options don't matter, correct?

    No 2015 data yet for IS ... 2014 RV for IS350 is 59%. MF is .00085.

    Correct - individual options and packages do not affect the numbers.

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  • 2old4xbox2old4xbox Member Posts: 3
    edited September 2014

    Hi everybody, I'm a total n00b on this site so forgive for posting on the discussion board too. I certainly could use y'all's wisdom on my first lease.

    2014 Lexus IS 350 F Sport with Nav.

    -MSRP: $48,723

    -Negotiated Sale Price: $45,690

    -Cap Red: $2,350 ($1500 down + $850 rebate)

    MF: .00085

    Residual: 70%

    Term: 27 months

    Payment: $447.53

    No tax:)

    How does this look to you folks?

  • MichaellMichaell ColoradoModerator Posts: 193,320

    @2old4xbox said:
    Hi everybody, I'm a total n00b on this site so forgive for posting on the discussion board too. I certainly could use y'all's wisdom on my first lease.

    2014 Lexus IS 350 F Sport with Nav.

    -MSRP: $48,723

    -Negotiated Sale Price: $45,690

    -Cap Red: $2,350 ($1500 down + $850 rebate)

    MF: .00085

    Residual: 70%

    Term: 27 months

    Payment: $447.53

    No tax:)

    How does this look to you folks?

    If I reduce the cap cost to $43,340 to account for the up front cap cost reduction, I get a pre-tax payment of $407.83 for 27 months.

    Are there other up front fees that are being added in to the cap cost? License, acquisition fee, stuff like that? $40/mo equates to an additional $1100 in costs somewhere.

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  • 2old4xbox2old4xbox Member Posts: 3
    @michaell thanks for the help. Yes, I didn't list license fees ($973) and DMV ($75).
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