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2014 Lexus GX 460 Lease Questions

2

Comments

  • nh_1nh_1 Posts: 12

    I could have jotted the residual down wrong.
    Beyond the residual, does it seem like a good deal? Should I be negotiating further on the selling price?

  • MichaellMichaell ColoradoPosts: 150,851

    @nh_1 said:
    I could have jotted the residual down wrong.
    Beyond the residual, does it seem like a good deal? Should I be negotiating further on the selling price?

    I'm not in the market for a luxury SUV, so I can't comment on what is a good selling price. You can use the shopping tools at the top of the page to see what Edmunds has to say.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


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    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • x5fan10x5fan10 Posts: 19

    Hello friends

    I am in the market for GX460 base plus nav-
    could some tell me whats the MF and residual for august in baltimore area?
    thanks

  • MichaellMichaell ColoradoPosts: 150,851

    @x5fan10 said:
    Hello friends

    I am in the market for GX460 base plus nav-
    could some tell me whats the MF and residual for august in baltimore area?
    thanks

    What lease term and how many miles per year?

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


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    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • x5fan10x5fan10 Posts: 19

    3yr/12k and 3yr/15k. baltimore area.

  • kyfdxkyfdx Posts: 157,030

    @x5fan10 said:
    Hello friends

    I am in the market for GX460 base plus nav-
    could some tell me whats the MF and residual for august in baltimore area?
    thanks
    @x5fan10 said:
    3yr/12k and 3yr/15k. baltimore area.

    .00070 MF and 57%/55% residual. .00140 MF for luxury or premium package.

    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • Can anyone post reasonable numbers for selling price in NJ? Looking for 12k miles year/ 4k trade in. Premium package w nav/comfort package. Just started looking but want an idea of a price point to negotiate to
  • MichaellMichaell ColoradoPosts: 150,851

    @car_salami said:
    Can anyone post reasonable numbers for selling price in NJ? Looking for 12k miles year/ 4k trade in. Premium package w nav/comfort package. Just started looking but want an idea of a price point to negotiate to

    Have you checked the pricing tools at the top of the page? That will give you a good starting point.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • Could you please post september numbers for 2014 gx460 base awd 36m 15k? Thank you in advance

  • MichaellMichaell ColoradoPosts: 150,851

    @hypnotics said:
    Could you please post september numbers for 2014 gx460 base awd 36m 15k? Thank you in advance

    .00070 and 55%.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


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    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • Could someone please post MF and Residual for 36 month and 12k on a Premium for this month? 2014 and/or 2015 models. Thank you.

  • MichaellMichaell ColoradoPosts: 150,851

    @pineapple2015 said:
    Could someone please post MF and Residual for 36 month and 12k on a Premium for this month? 2014 and/or 2015 models. Thank you.

    No 2015 information available from Lexus just yet.

    2014 - 57% RV and .00140 MF

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    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • Are these the best dealers can do? Or they can go further? Thanks.

  • MichaellMichaell ColoradoPosts: 150,851

    @pineapple2015 said:
    Are these the best dealers can do? Or they can go further? Thanks.

    The MF is the base rate for tier 1 customers and cannot be reduced.

    The residual is fixed by Lexus and cannot be modified by the dealer.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • Thank you!

  • I plugged those numbers into the lease calculator for a 52k price and it came out about 790. Is it about right? Thanks.
  • MichaellMichaell ColoradoPosts: 150,851

    @pineapple2015 said:
    I plugged those numbers into the lease calculator for a 52k price and it came out about 790. Is it about right? Thanks.

    Is $52K the MSRP or the selling price? You'll need both to calculate a lease payment.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • Thanks for the reply. That's the selling price. MSRP is 56K. I only see on box for sell price. Am I using a wrong lease calculator? This is the one I use: http://www.edmunds.com/calculators/car-lease.html?sv
    Thanks.
  • MichaellMichaell ColoradoPosts: 150,851

    Thanks for the reply. That's the selling price. MSRP is 56K. I only see on box for sell price. Am I using a wrong lease calculator? This is the one I use: http://www.edmunds.com/calculators/car-lease.html?sv
    Thanks.

    Using the MF and RV I provided earlier, with a $56K MSRP and a $52K selling price, I get a pre-tax payment of $677.49/mo for 36 months.

    $790 seems high, even taking tax into consideration.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


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    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • Thank you. That's great to know. Could you please let me know which formula/calculator you used?
  • MichaellMichaell ColoradoPosts: 150,851

    Thank you. That's great to know. Could you please let me know which formula/calculator you used?

    I built my own spreadsheet.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • HI,

    Was just offered a 2014 GX 460 premium package lease. ( Car is about $56K msrp)

    The dealer is BEGGING me to lease. Why?

    for 7,500 miles / year , 3 year lease,

    The 1st he offered is
    59% residual
    .0018 money factor ( 4.3% APR)

    then he came back and said I could buy down the rate for ~$5K security deposit, getting the MF to .00108 ( 2.6% APR)

    How much room do I have to negotiate a better MF if he is pushing so hard for a lease?

    My alternative is 2% purchase financing from an outside lender.

    The price is rock bottom by by checks

    Thanks
  • MichaellMichaell ColoradoPosts: 150,851

    HI,

    Was just offered a 2014 GX 460 premium package lease. ( Car is about $56K msrp)

    The dealer is BEGGING me to lease. Why?

    for 7,500 miles / year , 3 year lease,

    The 1st he offered is
    59% residual
    .0018 money factor ( 4.3% APR)

    then he came back and said I could buy down the rate for ~$5K security deposit, getting the MF to .00108 ( 2.6% APR)

    How much room do I have to negotiate a better MF if he is pushing so hard for a lease?

    My alternative is 2% purchase financing from an outside lender.

    The price is rock bottom by by checks

    Thanks

    The base MF for the GX premium this month is .00140, so your dealer is marking up their rate to .00180 for some extra profit.

    Yes, you can still reduce the MF by making multiple security deposits.

    FYI, the base MF on the "base" GX is only .00070

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • Michaell said:

    HI,

    Was just offered a 2014 GX 460 premium package lease. ( Car is about $56K msrp)

    The dealer is BEGGING me to lease. Why?

    for 7,500 miles / year , 3 year lease,

    The 1st he offered is
    59% residual
    .0018 money factor ( 4.3% APR)

    then he came back and said I could buy down the rate for ~$5K security deposit, getting the MF to .00108 ( 2.6% APR)

    How much room do I have to negotiate a better MF if he is pushing so hard for a lease?

    My alternative is 2% purchase financing from an outside lender.

    The price is rock bottom by by checks

    Thanks

    The base MF for the GX premium this month is .00140, so your dealer is marking up their rate to .00180 for some extra profit.

    Yes, you can still reduce the MF by making multiple security deposits.

    FYI, the base MF on the "base" GX is only .00070
  • Thank you.
    So would you agree that my Money Factor alternatives are either

    1) either give me the .00140 without the security deposit,
    or
    2) ask for ~ .0007 with a sec deposit ?

    Thanks
  • MichaellMichaell ColoradoPosts: 150,851

    Thank you.
    So would you agree that my Money Factor alternatives are either

    1) either give me the .00140 without the security deposit,
    or
    2) ask for ~ .0007 with a sec deposit ?

    Thanks

    The best information I have is that you can make up to 9 security deposits for Lexus, each one reducing the MF by .00008

    If we start at the base rate of .00140, subtracting .00072 from it gives us a net MF of .00068.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • Great information. Thank you. I'll let you know how it goes.
  • Hello,
    I am somewhat confused regarding the type of GX460s trim levels. So when one says base GX, is that the one without any options and the nuluxe interior? The base MF is .00070. So which trim is Premium then? On the website, they have base and Luxury. Is the premium trim level the base with leather, and other options?
    TIA
    Kris
  • new info
    kshankar said:

    Hello,
    I am somewhat confused regarding the type of GX460s trim levels. So when one says base GX, is that the one without any options and the nuluxe interior? The base MF is .00070. So which trim is Premium then? On the website, they have base and Luxury. Is the premium trim level the base with leather, and other options?
    TIA
    Kris

    In my case premium refers to 2014 base model + the premium package, a ~$4700 option that adds leather seats, Nav, vented seats, heated 2nd row seats, parking assist, etc to the base model.

  • I guess it depends on where one lives. I am in Atlanta and here they call it a convenience package which is a $6K option that adds most of the options listed above but without nav. You can get a cheaper option package around 3K that adds nav but not leather seats, etc to the base model.
    So with regard to MF, the base model is .00070. If one starts with a base model, and adds the other options, should the money factor change or is it still considered a base model thus going with the .00070 rate instead of .00140 when calculating lease payments? I understand the luxury model has a different MF than the "base" one.
    thx
    KRIS
  • MichaellMichaell ColoradoPosts: 150,851
    kshankar said:

    I guess it depends on where one lives. I am in Atlanta and here they call it a convenience package which is a $6K option that adds most of the options listed above but without nav. You can get a cheaper option package around 3K that adds nav but not leather seats, etc to the base model.
    So with regard to MF, the base model is .00070. If one starts with a base model, and adds the other options, should the money factor change or is it still considered a base model thus going with the .00070 rate instead of .00140 when calculating lease payments? I understand the luxury model has a different MF than the "base" one.
    thx
    KRIS

    The information I have says this:

    .00070 MF is for the GX460 "excludes PM (premium pkg) and 9710"

    .00140 MF is for "9710 and 9700 (with PM). Premium and luxury grade only. 9700 must include Premium Pkg."

    Take from that what you will.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • Thanks for the info. When I go to the website to build a GX (zip 30005), only base and luxury show up. So when I build the base model, option package that shows up is convenience package, no premium package. So if no premium package, then I guess use the base MF then?
    http://www.lexus.com/configurator/#/packages/?zip=30005&modelid=8619&group=GX
  • MichaellMichaell ColoradoPosts: 150,851
    kshankar said:

    Thanks for the info. When I go to the website to build a GX (zip 30005), only base and luxury show up. So when I build the base model, option package that shows up is convenience package, no premium package. So if no premium package, then I guess use the base MF then?
    http://www.lexus.com/configurator/#/packages/?zip=30005&modelid=8619&group=GX

    Seems right to me. But, Lexus has a regional distributorship in the SouthEast, so different rules may apply.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • As far as buying down the rate, I checked around.

    One dealer told me that the equivalent of a monthly payment, rounded up to the nearest $25, can be used as a security deposit to buy down the rate by one money factor point ( i.e. .0014 to .0013)

    If you use nine monthly payments for your security deposit, you get an extra bonus point discount for a total of ten points off the base lease rate.

    So .0014 base rate would fall to .00040 at his dealership.

    My dealer denied that, and he offered same as @Michaell‌ suggested:
    use nine security deposits to buy down the rate .0008 points at a time, from .0014 to .00068.

    I passed on the lease and used outside financing.

  • I got a quote for a 2014 GX460 with Convenience package. Basically a base GX with options.
    I requested the money factor used and the dealership dodged the question. Its not like I am going to do business with them unless they get their act together. Here goes:

    MSRP: $56183
    Discount: $3500
    Sales Price: $52,683
    Tax: $4039.04 (In GA, sales tax is calculated on full price. Also this includes dealer and acquisition fee.
    tags: $38
    MV/WRA: $3.00
    electronic filing fee=$98
    admin fee= $3
    total price= $56864.04

    Now the following are the payments for 27 months, 30 months, and 36 months for 10K a year.

    27 months= 981 a month, residual: $37080.78
    30 months: 951 a month, residual: $35395.29
    36 months: $891 a month. residual $32586.14
    This is with 0 due at signing.

    I wish I knew the money factor they are using.

    thanks
    KRIS
  • MichaellMichaell ColoradoPosts: 150,851
    kshankar said:

    I got a quote for a 2014 GX460 with Convenience package. Basically a base GX with options.
    I requested the money factor used and the dealership dodged the question. Its not like I am going to do business with them unless they get their act together. Here goes:

    MSRP: $56183
    Discount: $3500
    Sales Price: $52,683
    Tax: $4039.04 (In GA, sales tax is calculated on full price. Also this includes dealer and acquisition fee.
    tags: $38
    MV/WRA: $3.00
    electronic filing fee=$98
    admin fee= $3
    total price= $56864.04

    Now the following are the payments for 27 months, 30 months, and 36 months for 10K a year.

    27 months= 981 a month, residual: $37080.78
    30 months: 951 a month, residual: $35395.29
    36 months: $891 a month. residual $32586.14
    This is with 0 due at signing.

    I wish I knew the money factor they are using.

    thanks
    KRIS

    Be polite and ask them.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • Believe me, I tried. So overall, not very good right?
  • MichaellMichaell ColoradoPosts: 150,851
    kshankar said:

    Believe me, I tried. So overall, not very good right?

    No.

    Using the higher of the two MFs (.00140) with your MSRP and net cap cost, I get the following pre-tax payments:

    36mo - 58% residual, $799.62/mo

    30mo - 63% residual, $844.79/mo

    27mo - 68% residual, $824.19/mo

    Dealer needs to sharpen their pencil or you need to reach out to a different Lexus dealer.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • The payments I was given include all taxes.
    thanks for your calculations. I will look at other dealers. There are 5 Lexus dealers within an hour from where I live.
  • MichaellMichaell ColoradoPosts: 150,851
    kshankar said:

    The payments I was given include all taxes.
    thanks for your calculations. I will look at other dealers. There are 5 Lexus dealers within an hour from where I live.

    Good luck - let us know how things turn out.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • Michaell,
    I believe your payments include the taxes, correct? I came up with $824.09 for 27 months using your MF and RV.
  • MichaellMichaell ColoradoPosts: 150,851
    kshankar said:

    Michaell,
    I believe your payments include the taxes, correct? I came up with $824.09 for 27 months using your MF and RV.

    Is there a sales tax applied to the monthly payment in Georgia? If so, my calculations did not include them.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • Will do
  • BTW, the money factor for the above lease was .00170. The sales person stated they want the finance manager to make some money. She claims every dealer, not only Lexus, marks up the money factor and people usually don't ask about it. Oh well, I am not doing business with them anyway :-)
  • Michaell said:

    kshankar said:

    Michaell,
    I believe your payments include the taxes, correct? I came up with $824.09 for 27 months using your MF and RV.

    Is there a sales tax applied to the monthly payment in Georgia? If so, my calculations did not include them.

    My net cost of which is seen above includes GA sales tax. In GA, one has to pay the sales tax of the vehicle in full. So you either pay sales tax upfront during the beginning of the lease or you can pay per month upon the duration of the lease. So nearly $4000 in taxes have to be paid either in 27, 30, 36 months depending on which lease one chooses. Someone mentioned in this forum I believe that its the same in Maryland and Texas. I know when I lived in Illinois, it was the same as well.

  • MichaellMichaell ColoradoPosts: 150,851
    kshankar said:

    Michaell said:

    kshankar said:

    Michaell,
    I believe your payments include the taxes, correct? I came up with $824.09 for 27 months using your MF and RV.

    Is there a sales tax applied to the monthly payment in Georgia? If so, my calculations did not include them.

    My net cost of which is seen above includes GA sales tax. In GA, one has to pay the sales tax of the vehicle in full. So you either pay sales tax upfront during the beginning of the lease or you can pay per month upon the duration of the lease. So nearly $4000 in taxes have to be paid either in 27, 30, 36 months depending on which lease one chooses. Someone mentioned in this forum I believe that its the same in Maryland and Texas. I know when I lived in Illinois, it was the same as well.

    Yes, Texas and Maryland have the same approach. Illinois does as well, but their law is changing on 1/1/15 to only tax the payment.

    For some reason, I wasn't aware of the option (in Georgia) of rolling the tax into the cap cost and paying it over the entire lease term. I learn something almost every day!

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

  • kshankar said:

    I got a quote for a 2014 GX460 with Convenience package. Basically a base GX with options.
    I requested the money factor used and the dealership dodged the question. Its not like I am going to do business with them unless they get their act together. Here goes:

    MSRP: $56183
    Discount: $3500
    Sales Price: $52,683
    Tax: $4039.04 (In GA, sales tax is calculated on full price. Also this includes dealer and acquisition fee.
    tags: $38
    MV/WRA: $3.00
    electronic filing fee=$98
    admin fee= $3
    total price= $56864.04

    Now the following are the payments for 27 months, 30 months, and 36 months for 10K a year.

    27 months= 981 a month, residual: $37080.78
    30 months: 951 a month, residual: $35395.29
    36 months: $891 a month. residual $32586.14
    This is with 0 due at signing.

    I wish I knew the money factor they are using.

    thanks
    KRIS

    Kris,

    since your MSRP is the same as the GX I bought, let's use my numbers to compare.
    My MF - .00068
    Purch price 49900
    59% residual @ 7,500 miles per year.
    3 year lease.
    Total with tax and the $700 lease fee included =
    $593 per month.

    You have a lot of room to negotiate price and the MF

    Ride with G rated this a 91 point lease ( = "great"), but I chose to finance it at 2% instead.





  • Edmundsmoya,
    Did your quote include MSDs? Thats a great price. The taxes always make the deal worse. Your purchase price is 3K less than what was quoted for me. I have time and will do my due diligence.
    thanks
    KRIS
  • Hi @kshankar - what are MSDs?
  • MichaellMichaell ColoradoPosts: 150,851

    Hi @kshankar - what are MSDs?

    MSDs are Multiple Security Deposits - the monthly payment rounded up to the next $25. Each MSD lowers the MF so your payment decreases.

    And, the monies contributed up front for MSD are refunded to you at the end of the lease.

    Did you get a good deal? Be sure to come back and let us know! Post a pic of your new purchase or lease!


    MODERATOR

    2015 Subaru Outback 3.6R / 2014 MINI Countryman S ALL4

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