2016 Lexus GX 460 Lease Questions

kyfdx

Ask your 2016 GX 460 lease questions here!

verruckt

Hello-
Looking for MF and RV on 2016 GX 460 base model. 36mo/12k mi

Michaell

verruckt said:

Hello-
Looking for MF and RV on 2016 GX 460 base model. 36mo/12k mi

65% and probably .00180 MF

verruckt

Thank you -

Are the MF and RV numbers different for the Premium trim?

Michaell

verruckt said:

Thank you - Are the MF and RV numbers different for the Premium trim?

No. 

nycmcgcar

I have an offer for a '16 GX460, Silver exterior, black interior, base + premium package, blind spot monitor, cargo mats/liners, leather trimmed steering wheel/nob, headlamp washers. $57,785 MSRP, offered at $54,900, 10k miles/year, 3 years lease. 62% residual and .0018 MF. Any concerns?

kyfdx

nycmcgcar said:

I have an offer for a '16 GX460, Silver exterior, black interior, base + premium package, blind spot monitor, cargo mats/liners, leather trimmed steering wheel/nob, headlamp washers. $57,785 MSRP, offered at $54,900, 10k miles/year, 3 years lease. 62% residual and .0018 MF. Any concerns?

That residual seems wrong for 36/10 for 2016. Should be 66%.

62% is the 2015 model residual for 36/10.

nashdawg

What is the current Residual and MF on a 2016 GX Base for a 12k 36 month lease?
Dealer is telling me 12k @ 65%
and MF of .0023

Michaell

nashdawg said:

What is the current Residual and MF on a 2016 GX Base for a 12k 36 month lease?
Dealer is telling me 12k @ 65%
and MF of .0023

I agree with the 65% residual. Base MF is, I think, around .00180 or so.

soupguy

I'm currently looking at the 2016gx460 lease deal of 499 a month for 36 months w/10k miles per year. MSRP is approximately 51350.

Can you tell me the MF and RV for this month? Also, is it possible to negotiate the base MF lower depending on credit score and if I negotiate the price down to about 49500, how will that affect the lease? Will the RV be based on the original MSRP or the new negotiated number?

thanks much

Michaell

soupguy said:

I'm currently looking at the 2016gx460 lease deal of 499 a month for 36 months w/10k miles per year. MSRP is approximately 51350.

Can you tell me the MF and RV for this month? Also, is it possible to negotiate the base MF lower depending on credit score and if I negotiate the price down to about 49500, how will that affect the lease? Will the RV be based on the original MSRP or the new negotiated number?

thanks much

66% and .00180 for 36/10. The MF is base and cannot go any lower except by using multiple security deposits.

Every $1000 off the selling price reduces the pre-tax lease payment about $28/mo.

Residual is always calculated against the bottom line number of the window sticker.

soupguy

NJ Lexus Dealer quoted 66% RV and .00190 for current MF and not the .00180 Michaell quoted. I saw this on the "book" the guy pulled out of his desk. Is this correct for NJ or a customer only copy they like to use to up the MF?

this is on the base GX460

Michaell

soupguy said:

NJ Lexus Dealer quoted 66% RV and .00190 for current MF and not the .00180 Michaell quoted. I saw this on the "book" the guy pulled out of his desk. Is this correct for NJ or a customer only copy they like to use to up the MF?

this is on the base GX460

The .00180 was an educated guess on my part. Could very well be .00190 as the base MF.

stevebro

I was quoted a 65% residual value today on a 36-month / 12k mile lease today for a 2016 GX460 Luxury. However, dealer quoted me their Tier 1 MF rate of .00290 which seems extremely high. It just isn't competitive compared to other vehicles we are considering.

Is this the true Tier 1 MF for February or is the dealer marking this up? Should I consider shopping another dealer as their are 5 dealers in my area? Thanks.

Michaell

stevebro said:

I was quoted a 65% residual value today on a 36-month / 12k mile lease today for a 2016 GX460 Luxury. However, dealer quoted me their Tier 1 MF rate of .00290 which seems extremely high. It just isn't competitive compared to other vehicles we are considering.

Is this the true Tier 1 MF for February or is the dealer marking this up? Should I consider shopping another dealer as their are 5 dealers in my area? Thanks.

I confirm the 36/12 residual as 65%, but I'm showing the base MF as .00190. Dealer can mark up the MF for extra profit.

Absolutely suggest contacting the other dealers .. it only takes one to meet your numbers.

stevebro

Michaell said:

stevebro said:

I was quoted a 65% residual value today on a 36-month / 12k mile lease today for a 2016 GX460 Luxury. However, dealer quoted me their Tier 1 MF rate of .00290 which seems extremely high. It just isn't competitive compared to other vehicles we are considering.

Is this the true Tier 1 MF for February or is the dealer marking this up? Should I consider shopping another dealer as their are 5 dealers in my area? Thanks.

I confirm the 36/12 residual as 65%, but I'm showing the base MF as .00190. Dealer can mark up the MF for extra profit.

Absolutely suggest contacting the other dealers .. it only takes one to meet your numbers.

Thanks Michaell for the quick response and confirming my suspicion. I will look to the other dealers to get a better deal. Much appreciated!

stevebro

For the benefit of this forum, 3 other dealers confirmed that February base MF is .00190 and 65% residual on 36/12. They are hoping that March provides some financing incentives on the GX as they have not had any, with March being one of Lexus' 3 big sales events of the year.

Michaell

stevebro said:

For the benefit of this forum, 3 other dealers confirmed that February base MF is .00190 and 65% residual on 36/12. They are hoping that March provides some financing incentives on the GX as they have not had any, with March being one of Lexus' 3 big sales events of the year.

Thanks for the update ... the GX is not a big seller, so I'm guessing that Lexus doesn't see much need to lower the MF by much, even if they do decide to.

I think I saw the MF around .00140-.00155 at some point last year.

stevebro

Michaell said:

stevebro said:

For the benefit of this forum, 3 other dealers confirmed that February base MF is .00190 and 65% residual on 36/12. They are hoping that March provides some financing incentives on the GX as they have not had any, with March being one of Lexus' 3 big sales events of the year.

Thanks for the update ... the GX is not a big seller, so I'm guessing that Lexus doesn't see much need to lower the MF by much, even if they do decide to.

I think I saw the MF around .00140-.00155 at some point last year.

stevebro

Michaell, any update on the March money factor for the GX460? Thanks.

Michaell

stevebro said:

Michaell, any update on the March money factor for the GX460? Thanks.

Limited numbers so far in March; 36/10 residual of 66% and .00190 MF.

stevebro

Michaell said:

stevebro said:

Michaell, any update on the March money factor for the GX460? Thanks.

Limited numbers so far in March; 36/10 residual of 66% and .00190 MF.

Thanks Michaell. I confirmed with dealer I am working with that .00190 and 65% for 36/12. Appreciate all the help!

bryan_k

Hi, would you be able to supply the RV and MF for a 45/10 & 45/12? Any difference in RV between premium and luxury?

Thanks!

Michaell

bryan_k said:

Hi, would you be able to supply the RV and MF for a 45/10 & 45/12? Any difference in RV between premium and luxury?

Thanks!

60% / 59% and .00190. No difference between trims.

bryan_k

Michaell said:

bryan_k said:

Hi, would you be able to supply the RV and MF for a 45/10 & 45/12? Any difference in RV between premium and luxury?

Thanks!

60% / 59% and .00190. No difference between trims.

Thank You!

borg1of2

My lease math using edmunds calculator and dealer lease are far off. What lease payment do you get?

2016 Lexus GX Premium
36/10 lease
MSRP $58,500
Purchase Price $53,250
$1,000 out of my pocket to take care of first payment/fees

I am in Tampa FL with tax at 7%

Thanks

Michaell

borg1of2 said:

My lease math using edmunds calculator and dealer lease are far off. What lease payment do you get?

2016 Lexus GX Premium
36/10 lease
MSRP $58,500
Purchase Price $53,250
$1,000 out of my pocket to take care of first payment/fees

I am in Tampa FL with tax at 7%

Thanks

66% and, I think, .00190.

Using your prices, I get $622/mo with tax included.

However, I suspect the adjusted cap cost is different than your purchase price - $1000 to start isn't enough to cover all the up front costs.

olek__s

HI. This was my first lease, NJ state 03/19/16 :
Base model MSRP 51750
45month/10000 miles
6800 cash at signing (4500 security deposit + 2300(registration+acquisition+decument+tire tax & EPA fee+first payment))

Gross Capitalized cost 47860 + 1500 tax = 49360
Residual Value 31050.

Monthly payment $485.

Did I overpaid a lot?

kyfdx

olek__s said:

HI. This was my first lease, NJ state 03/19/16 :
Base model MSRP 51750
45month/10000 miles
6800 cash at signing (4500 security deposit + 2300(registration+acquisition+decument+tire tax & EPA fee+first payment))

Gross Capitalized cost 47860 + 1500 tax = 49360
Residual Value 31050.

Monthly payment $485.

Did I overpaid a lot?

Looks like you did pretty well. I don't like leasing for 45 months, but your payment is good, considering the popularity of this model.

cooleyo15

Hello,

Can you tell me the current RV and MF on a 2016 GX 460 Base in Southern California please.

Thank you very much in advance.

kyfdx

cooleyo15 said:

Hello,

Can you tell me the current RV and MF on a 2016 GX 460 Base in Southern California please.

Thank you very much in advance.

.00190 MF and 63% residual for 36 mo, 15K/yr

cramir350

What is the residual and MF for:
24/12
24/15
36/12
36/15
48/12
48/15

Any extra incentives? Im in FL

kyfdx

cramir350 said:

What is the residual and MF for:
24/12
24/15
36/12
36/15
48/12
48/15

Any extra incentives? Im in FL

15K/yr . Add 2% for 12K/yr

24/15: 71%
36/15: 63%
48/15: 54%

.00190 MF

cramir350

Any changes or incentives for June?

Michaell

cramir350 said:

Any changes or incentives for June?

Nope.

ferflorida

Hello,
I leased a 2016 GX 460 with Navigation package, BSM, Parking assist,
Sticker: 54,820
Gross Cap Cost: 49,894.95
Cap Cost Reduction: 5,401.31 (I traded a leased 2013 Honda Pilot with nice Equity+negotiated)
Residual: 30,699.20
0.0018 MF
Down: First Month, Monthly $452 X 48 Months, 12K/year

Michaell

ferflorida said:

Hello,
I leased a 2016 GX 460 with Navigation package, BSM, Parking assist,
Sticker: 54,820
Gross Cap Cost: 49,894.95
Cap Cost Reduction: 5,401.31 (I traded a leased 2013 Honda Pilot with nice Equity+negotiated)
Residual: 30,699.20
0.0018 MF
Down: First Month, Monthly $452 X 48 Months, 12K/year

Congrats! Enjoy the new GX.

ckool

Hi Ferflorida

Would u mind to share the dealership you got ur lexus from?

Thanks

jcorpuz

I received a quote from a local deal for a 2016 GX 460 Premium but if feel the payment doesnt add up. Can you please verify. Thank you

MSRP: $58,203
Sales Price: $55,998 (feel like I can get better)
Tax: $559.00 (in June Lexus had a 1% tax on the GX. That has change for July. Texas tax is 6.25%)
License, fee, reg.: $337.25
Acquisition fee: $700.00
Residual:66% 36month, 10k miles, MF .00265 (I'm sure I can get .00190 from another dealer)
Down payment: $1,300.00
Monthly: $771.62

I'm sure payment will change since I will have to pay 6.25% tax

Michaell

jcorpuz said:

I received a quote from a local deal for a 2016 GX 460 Premium but if feel the payment doesnt add up. Can you please verify. Thank you

MSRP: $58,203
Sales Price: $55,998 (feel like I can get better)
Tax: $559.00 (in June Lexus had a 1% tax on the GX. That has change for July. Texas tax is 6.25%)
License, fee, reg.: $337.25
Acquisition fee: $700.00
Residual:66% 36month, 10k miles, MF .00265 (I'm sure I can get .00190 from another dealer)
Down payment: $1,300.00
Monthly: $771.62

I'm sure payment will change since I will have to pay 6.25% tax

The marked up MF is killing you on this deal. And the ending of the tax promotion in Texas is going to hurt, as well.

If you pay all the fees and taxes up front and use the sales price as the adjusted cap cost, I get $668/mo using the .00190 MF; $739/mo with the .00265 MF

Ask the dealer what they are using for the adjusted cap cost - my guess is that the $1300 out of pocket isn't covering everything and the rest is being added into the selling price

radiomator

Does anyone have the 36/12 MF and RV for 2016 Lexus GX 460 Premium? How about for the 2017 model?

kyfdx

radiomator said:

Does anyone have the 36/12 MF and RV for 2016 Lexus GX 460 Premium? How about for the 2017 model?

.00190 MF and 65% residual.

No 2017 info.

radiomator

Thanks kyfdx! Would you happen to know about what time the new model year numbers usually come out?

Michaell

radiomator said:

Thanks kyfdx! Would you happen to know about what time the new model year numbers usually come out?

Probably when the 2017's hit the lots...

tlx_2015

Can someone please provide the latest MF and RV numbers for the following models in PA.
GX 460 Base
GX 460 Premium
15K/36 months
15K/24 months

Also, when is the next expected change to the values?

Thanks!

Michaell

tlx_2015 said:

Can someone please provide the latest MF and RV numbers for the following models in PA.
GX 460 Base
GX 460 Premium
15K/36 months
15K/24 months

Also, when is the next expected change to the values?

Thanks!

71% (24/15) or 63% (36/15) and .00190 MF

Lexus MF expire on 8/1; residuals on 10/3

mikezat

I got a decent deal on a GX 460 with premium package.
MSRP $57,353. Cannot recall the cap but it was in the area of $53,500
$1,250 down including 1st monthly payment of $654.97 including $45.70 7.5% tax.
35 x $654.97 ($609.27 + $45.70) thereafter.

Went to the dealership, was presented with the paperwork and could not understand few things. I hope the pros here can shed the light.

On the LFS lease application in Section 17 they list total taxes I will pay. The amount was $5,770. Neither the salesperson nor the finance guy could answer where this amount came from. The origination taxes and fees were included in the down payment around $550. Total taxes I'd pay on monthly payments = 36 x $45.70 = $1,642
The sum does not come close to $5,770. Please explain it to us.

Also, there were some Rent Charges in the amount of ~$4K. What are they ? I do not recall having these rent charges when I leased other brand.

Since nobody could figure out what the aforementioned things were, I left to come tomorrow.

Infinite thanks in advance,

Michaell

mikezat said:

I got a decent deal on a GX 460 with premium package.
MSRP $57,353. Cannot recall the cap but it was in the area of $53,500
$1,250 down including 1st monthly payment of $654.97 including $45.70 7.5% tax.
35 x $654.97 ($609.27 + $45.70) thereafter.

Went to the dealership, was presented with the paperwork and could not understand few things. I hope the pros here can shed the light.

On the LFS lease application in Section 17 they list total taxes I will pay. The amount was $5,770. Neither the salesperson nor the finance guy could answer where this amount came from. The origination taxes and fees were included in the down payment around $550. Total taxes I'd pay on monthly payments = 36 x $45.70 = $1,642
The sum does not come close to $5,770. Please explain it to us.

Also, there were some Rent Charges in the amount of ~$4K. What are they ? I do not recall having these rent charges when I leased other brand.

Since nobody could figure out what the aforementioned things were, I left to come tomorrow.

Infinite thanks in advance,

What state is this?

Rent charge is the lease term for interest - you'll pay that on every lease, though some forms use different names.

mikezat

Taxafornia. I am fortunate to have only 7.5% sales tax. But it's going up in Nov

Please and thank you

Michaell

mikezat said:

Taxafornia. I am fortunate to have only 7.5% sales tax. But it's going up in Nov

Please and thank you

Thanks - CA only assesses sales tax against the monthly payment, not the entire purchase price. Dealers love to mix purchase and lease numbers, then give you a payment without really showing how the numbers were arrived at.

Ask for the adjusted cap cost - if higher than the $53,500 you think it should be, find out what's been added.

How many miles per year are you looking for?

Looks like the MF is .00190 for the GX, this month.

mikezat

Sincerely appreciate your taking a look. It's a 36/15 lease. I think I am not making myself clear, sorry about that. I'd like to know how the dealer arrived to $5,770 in taxes as stated in Item 17 of the lease form. I think the number is wrong and they are sneaking it to put me on the hook for additional $$$ later ??? Could it be the case?