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2017 Lexus GX 460 Lease Deals and Prices

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Comments

  • jhreid07jhreid07 Member Posts: 8
    edited October 2017
    I went to one dealer yesterday and did some negotiating. The final deal they gave on the one time pay option was $18,563 at 10k miles annually for 36 months. Below are the details of the offer.

    MSRP: $59,698
    Net Sale Price: $51,990
    Taxes: $519 (dealer said on one pay they can subsidize taxes)
    TTL&Fees: $1,135

    Cap Costs:$53,664
    RV: $36,415 (61%)

    Based on the above I backed into the MF of .00041.

    How much room do you think they might have in this quote?

    Thanks
  • kyfdxkyfdx Moderator Posts: 228,173
    jhreid07 said:

    I went to one dealer yesterday and did some negotiating. The final deal they gave on the one time pay option was $18,563 at 10k miles annually for 36 months. Below are the details of the offer.

    MSRP: $59,698
    Net Sale Price: $51,990
    Taxes: $519 (dealer said on one pay they can subsidize taxes)
    TTL&Fees: $1,135

    Cap Costs:$53,664
    RV: $36,415 (61%)

    Based on the above I backed into the MF of .00041.

    How much room do you think they might have in this quote?

    Thanks

    No idea, but the tax savings is huge. About $2700 more on a normal lease in Texas.
    $516/mo is cheap, even if you are paying it all upfront.

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  • jeanette512jeanette512 Member Posts: 16
    Looking for both 2017 and 2018 Lexus GX460 MF and RV on 36/10 in Texas (does state matter?)

    Also being told by dealer that I do not get tax credit on my trade-in because I am leasing (6.25% in Texas). I looked at my last lease paperwork and I did, in fact, get the tax credit. Has something changed?

    Thanks!
  • kyfdxkyfdx Moderator Posts: 228,173
    jeanette512 said:

    Looking for both 2017 and 2018 Lexus GX460 MF and RV on 36/10 in Texas (does state matter?)

    Also being told by dealer that I do not get tax credit on my trade-in because I am leasing (6.25% in Texas). I looked at my last lease paperwork and I did, in fact, get the tax credit. Has something changed?

    Thanks!

    Tax credits on leases are at the discretion of the leasing bank and/or the dealer. (Basically, the leasing bank forwarding you a portion of their accumulated tax credit). I don't think there is an actual tax credit for the lessee from the state.

    2017: .00040 MF and 59% residual (61% residual if base model)
    $2000 lease cash.

    2018 discussion is here:
    https://forums.edmunds.com/discussion/48557/lexus/gx-460/2018-lexus-gx-460-lease-deals-and-prices/p1?new=1

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  • jeanette512jeanette512 Member Posts: 16
    Thanks for the info kyfdx. Regarding the "tax credit", I may have asked the question incorrectly. I understand in Texas sales tax (6.25%) is paid on the entire lease upfront versus on the monthly lease payment each month. I take no issue with paying the tax at the front of the lease for the entire transaction versus over the term of the lease (which would only be a portion of the transaction). Here is where I believe some dealers are doing it incorrectly:

    The lease transaction value is the agreed upon value of the new vehicle minus your tradein. This is the amount that should be taxed. Current dealer is indicating that my tradein is not included in sales tax calculation thereby more than doubling my tax due. My current lease is not done that way (was that dealer fraudulent with the state tax laws?) and why would I not received the "credit" for the sales tax I have already paid on my tradein three years ago?

    From researching the issue it appears to be a heated debate around here. I don't claim to be be smarter than the dealers that do this everyday but I also believe they likely have a lackadaisical attitude about it because they are just passing the fee through to the State. The State is certainly not going to correct it. And don't get me started about trying to call the State Comptroller office... :)

    Any insights from group?
  • MichaellMichaell Moderator Posts: 234,237
    jeanette512 said:

    Thanks for the info kyfdx. Regarding the "tax credit", I may have asked the question incorrectly. I understand in Texas sales tax (6.25%) is paid on the entire lease upfront versus on the monthly lease payment each month. I take no issue with paying the tax at the front of the lease for the entire transaction versus over the term of the lease (which would only be a portion of the transaction). Here is where I believe some dealers are doing it incorrectly:

    The lease transaction value is the agreed upon value of the new vehicle minus your tradein. This is the amount that should be taxed. Current dealer is indicating that my tradein is not included in sales tax calculation thereby more than doubling my tax due. My current lease is not done that way (was that dealer fraudulent with the state tax laws?) and why would I not received the "credit" for the sales tax I have already paid on my tradein three years ago?

    From researching the issue it appears to be a heated debate around here. I don't claim to be be smarter than the dealers that do this everyday but I also believe they likely have a lackadaisical attitude about it because they are just passing the fee through to the State. The State is certainly not going to correct it. And don't get me started about trying to call the State Comptroller office... :)

    Any insights from group?

    In Texas, you pay sales tax on the entire transaction price. Don't know how a trade would affect that number - does the Department of Revenue have a website you can check?

    You're right to be dubious about anything the dealer tells you, but that doesn't help your situation.

    Occasionally, we will hear from folks on these boards about "tax credits" that can be used to lower the tax rate from 6.25% to 1.25% for the transaction. Generally, these are found on luxury brands (like Lexus), but I don't know if it's a dealer incentive - meaning, the dealer pays the other 5% of the sales tax.

    One thing you can do is reach out to multiple Lexus dealers and ask them - see what kind of consistency you get in the answers. Ask to speak to a finance manager, not a sales person.

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  • jeanette512jeanette512 Member Posts: 16
    Thanks again...this forum has been most helpful.

    kyfdx - when you indicate 61% RV on base model, does that been the bottom of the line trim package on the GX. There is the Base, Premium and Luxury. I guess I did not realize residuals were based on the trims packages.
  • MichaellMichaell Moderator Posts: 234,237
    jeanette512 said:

    Thanks again...this forum has been most helpful.

    kyfdx - when you indicate 61% RV on base model, does that been the bottom of the line trim package on the GX. There is the Base, Premium and Luxury. I guess I did not realize residuals were based on the trims packages.

    Yes, 61% for base. Our information doesn't separate Premium or Luxury - we only show residual for the Luxury trim.

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  • njdriver12njdriver12 Member Posts: 1
    Hi, looking for MF and RV for 2017 GX460 in NJ? Many thanks.
  • kyfdxkyfdx Moderator Posts: 228,173
    njdriver12 said:

    Hi, looking for MF and RV for 2017 GX460 in NJ? Many thanks.

    .00040 MF
    $1500 lease cash
    58%/56% residual for Base/Luxury for 36/15

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  • green_leasegreen_lease Member Posts: 93
    edited October 2017
    Hello - can you please provide me with the MF and residual for 12k/15k 36 months lease for the base, premium and luxury versions in Colorado. Also any lease cash.

    Thanks for your help.
  • MichaellMichaell Moderator Posts: 234,237
    green_lease said:

    Hello - can you please provide me with the MF and residual for 12k/15k 36 months lease for the base, premium and luxury versions in Colorado. Also any lease cash.

    Thanks for your help.

    .00040 MF
    $1500 lease cash
    58%/56% residual for Base/Luxury for 36/15

    Add 2% for 12K

    We don't show a "Premium" trim in our information - is that a package you can add to the base trim?

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  • green_leasegreen_lease Member Posts: 93
    Michaell said:

    green_lease said:

    Hello - can you please provide me with the MF and residual for 12k/15k 36 months lease for the base, premium and luxury versions in Colorado. Also any lease cash.

    Thanks for your help.

    .00040 MF
    $1500 lease cash
    58%/56% residual for Base/Luxury for 36/15

    Add 2% for 12K

    We don't show a "Premium" trim in our information - is that a package you can add to the base trim?
    I think "Premium" is just the base. Seems like a marketing gimmick.
  • kyfdxkyfdx Moderator Posts: 228,173
    green_lease said:

    Michaell said:

    green_lease said:

    Hello - can you please provide me with the MF and residual for 12k/15k 36 months lease for the base, premium and luxury versions in Colorado. Also any lease cash.

    Thanks for your help.

    .00040 MF
    $1500 lease cash
    58%/56% residual for Base/Luxury for 36/15

    Add 2% for 12K

    We don't show a "Premium" trim in our information - is that a package you can add to the base trim?
    I think "Premium" is just the base. Seems like a marketing gimmick.
    Audi does the same thing. Premium = Base

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  • s4cruisers4cruiser Member Posts: 24
    Hi - looking for MF and RV for both 24/12 and 36/12 lease in NC for Premium and Luxury trims.

    Thanks!
  • MichaellMichaell Moderator Posts: 234,237
    s4cruiser said:

    Hi - looking for MF and RV for both 24/12 and 36/12 lease in NC for Premium and Luxury trims.

    Thanks!

    .00040 MF
    $2000 lease cash
    Premium - 67% / 60%
    Luxury - 65% / 58%

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  • kyfdxkyfdx Moderator Posts: 228,173
    s4cruiser said:

    Hi - looking for MF and RV for both 24/12 and 36/12 lease in NC for Premium and Luxury trims.

    Thanks!

    Premium (base): .00040 MF and 67%/60% residual
    Subtract 2% for Luxury
    $2000 lease cash

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  • orangemen1orangemen1 Member Posts: 8
    Hi - looking for MF and RV for both 36/12 and 36/10 lease in Virginia for a Lexus GX 460 Premium. Thx in advance.
  • MichaellMichaell Moderator Posts: 234,237
    orangemen1 said:

    Hi - looking for MF and RV for both 36/12 and 36/10 lease in Virginia for a Lexus GX 460 Premium. Thx in advance.

    .00040 and 60% / 61%
    $2000 lease cash

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  • craig1212craig1212 Member Posts: 20
    Hi, Anyone in NY/NJ/CT use the $4000 lease cash that's in the offers section on Lexus.com under 2017 GX offers? Thanks!
  • kyfdxkyfdx Moderator Posts: 228,173
    craig1212 said:

    Hi, Anyone in NY/NJ/CT use the $4000 lease cash that's in the offers section on Lexus.com under 2017 GX offers? Thanks!

    The $4000 is "Lexus Cash", and it's not compatible with the special lease program.
    $1500 lease cash on this model.

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  • craig1212craig1212 Member Posts: 20
    gotcha. Thank you!
  • fishthis10fishthis10 Member Posts: 3
    I have never leased previously but looking to lease a 2017 GX 460 with MSRP of $58,590. What offers are there and what would be an awesome lease deal? Looking to possibly lease today.
  • fishthis10fishthis10 Member Posts: 3
    I guess I should add that I am in FL. Thanks
  • MichaellMichaell Moderator Posts: 234,237
    fishthis10 said:

    I have never leased previously but looking to lease a 2017 GX 460 with MSRP of $58,590. What offers are there and what would be an awesome lease deal? Looking to possibly lease today.

    fishthis10 said:

    I guess I should add that I am in FL. Thanks

    New numbers were released today, but we do not have the data for Florida, yet.

    We would need to know the selling price / adjusted cap cost in order to run a payment once the numbers arrive.

    That said, we don’t track pricing – use the “make / model / year” tabs at the top of the page to link to the Edmunds price tools.

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  • fishthis10fishthis10 Member Posts: 3
    Thanks. The MSRP is $58,590. Is this negotiable to get a lower selling price for a lease? Excuse my ignorance...I guess this is why I am here!
  • newmankindnewmankind Member Posts: 12
    Hi Michaell, 
    could you let me know the November mf and residual 36 and 24 months - 2017 premium, 10k?
    Thanks.
  • MichaellMichaell Moderator Posts: 234,237
    fishthis10 said:

    Thanks. The MSRP is $58,590. Is this negotiable to get a lower selling price for a lease? Excuse my ignorance...I guess this is why I am here!

    Yes, you want to negotiate your best price, even if you are leasing.

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  • MichaellMichaell Moderator Posts: 234,237
    newmankind said:

    Hi Michaell, 
    could you let me know the November mf and residual 36 and 24 months - 2017 premium, 10k?
    Thanks.

    66% / 59% and .00040
    $2500 lease cash

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  • newmankindnewmankind Member Posts: 12
    edited November 2017
    Thanks Michaell. Are the numbers the same for Base? Luxury is -2%?
  • MichaellMichaell Moderator Posts: 234,237
    newmankind said:

    Thanks Michaell. Are the numbers the same for Base? Luxury is -2%?

    So far as we can tell, base = premium

    Subtract 4% for Luxury.

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  • crudy06crudy06 Member Posts: 2
    lease 2018 Lexus 460 premium $58110 msrp 61% quoted $664/ month 36 month 12k .001 $4046 up front in MN Good deal but how do i negotiate that up front cost down to sub 2k
  • MichaellMichaell Moderator Posts: 234,237
    crudy06 said:

    lease 2018 Lexus 460 premium $58110 msrp 61% quoted $664/ month 36 month 12k .001 $4046 up front in MN Good deal but how do i negotiate that up front cost down to sub 2k

    I see you have also posted in the 2018 GX thread; I'll answer you over there.

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  • kbill07kbill07 Member Posts: 30
    dhop said:
    Can you please let me know as of Oct 4th, the MF & RV for the '17 Lexus GX 460 Luxury model? Curious, Why do we give you the State, which # fluctuates by State? 36mos/12k miles, Orange County, CA. The Luxury MSRP $65,360 is the only model that offers the Auto 3rd row controls instead of manual. *What is the absolute MINIMUM drive off I can negotiate- Doc Fee, Acq Fee, License & Registration Calif? (don’t like to put money down on leases) This month lease cash incentives? Thank you! Busy Mom trying to Lease a car I'm down to'17 Lexus GX 460 or Ford Explorer Sport? Need the Same information for the Ford Explorer Sport w 401A packages MSRP $51,695 if possible :)
    @dhop what did you decide on and why?  I am looking at both suvs as well.  If you made decision, can you post details.  
  • newmankindnewmankind Member Posts: 12
    Michaell said:

    newmankind said:

    Thanks Michaell. Are the numbers the same for Base? Luxury is -2%?

    So far as we can tell, base = premium

    Subtract 4% for Luxury.
    Looking at the past residual between base and luxury - they were 2%. Is it 4% difference now?
  • kyfdxkyfdx Moderator Posts: 228,173
    newmankind said:

    Michaell said:

    newmankind said:

    Thanks Michaell. Are the numbers the same for Base? Luxury is -2%?

    So far as we can tell, base = premium

    Subtract 4% for Luxury.
    Looking at the past residual between base and luxury - they were 2%. Is it 4% difference now?
    Yes

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  • wonderxjimwonderxjim Member Posts: 4
    Can I please have the mf and residual for 2017 Lexus GX 460 premium 36/12? I am located in Los Angeles, California
  • kyfdxkyfdx Moderator Posts: 228,173
    wonderxjim said:

    Can I please have the mf and residual for 2017 Lexus GX 460 premium 36/12? I am located in Los Angeles, California

    .00030 MF and 58% residual
    $2500 lease cash

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  • aldave64aldave64 Member Posts: 25
    MF and Residual for 2017 Lexus GX460 Premium 36/12 for OH please ? Besides $2500 lease cash, is there another cash or discount available?
  • MichaellMichaell Moderator Posts: 234,237
    aldave64 said:

    MF and Residual for 2017 Lexus GX460 Premium 36/12 for OH please ? Besides $2500 lease cash, is there another cash or discount available?

    .00040 and 58%
    $2500 lease cash is the only incentive I see

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  • kyfdxkyfdx Moderator Posts: 228,173
    aldave64 said:

    MF and Residual for 2017 Lexus GX460 Premium 36/12 for OH please ? Besides $2500 lease cash, is there another cash or discount available?

    You should be able to negotiate a hefty discount on an outgoing 2017 model, in addition to the lease rebate.

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  • aldave64aldave64 Member Posts: 25
    When u say hefty discount, is 15% reasonable ? Or should be more or less? 
  • MichaellMichaell Moderator Posts: 234,237
    aldave64 said:

    When u say hefty discount, is 15% reasonable ? Or should be more or less? 

    We don’t track pricing – use the “make / model / year” tabs at the top of the page to link to the Edmunds price tools.

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  • slolankanslolankan Member Posts: 246
    Hello!

    Can you please provide the RV and MF for 2017 Premium and Luxury in So Cal?

    24 mo - 10k/12k
    Premium - .00030 MF
    Luxury - Same MF?

    36 mo - 10k/12k
    Premium - .00030 MF - ?? / 58%
    Luxury - Same MF? - / 54%

    Any incentives for Nov?


    Thanks!
  • MichaellMichaell Moderator Posts: 234,237
    slolankan said:

    Hello!

    Can you please provide the RV and MF for 2017 Premium and Luxury in So Cal?

    24 mo - 10k/12k
    Premium - .00030 MF
    Luxury - Same MF?

    36 mo - 10k/12k
    Premium - .00030 MF - ?? / 58%
    Luxury - Same MF? - / 54%

    Any incentives for Nov?


    Thanks!

    Premium - 65% (24/12) or 58% (36/12)
    Add 1% for 10K
    Subtract 4% for Luxury
    .00030 and $2500 lease cash for both

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  • roosnamroosnam Member Posts: 7
    edited November 2017
    I am looking at 2017 GX 460, please provide the residual and MF for 36/12 and 36/15 for luxury and premium in MO. Is the $2500 lease cash nationwide?
    Thanks!
  • MichaellMichaell Moderator Posts: 234,237
    roosnam said:

    I am looking at 2017 GX 460, please provide the residual and MF for 36/12 and 36/15 for luxury and premium in MO. Is the $2500 lease cash nationwide?
    Thanks!

    Premium 58% (36/12)
    Subtract 2% for 36/15
    Subtract 4% for Luxury
    .00030 and $2500 lease cash for both

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  • slolankanslolankan Member Posts: 246
    edited November 2017
    Michaell said:

    slolankan said:

    Hello!

    Can you please provide the RV and MF for 2017 Premium and Luxury in So Cal?

    24 mo - 10k/12k
    Premium - .00030 MF
    Luxury - Same MF?

    36 mo - 10k/12k
    Premium - .00030 MF - ?? / 58%
    Luxury - Same MF? - / 54%

    Any incentives for Nov?


    Thanks!

    Premium - 65% (24/12) or 58% (36/12)
    Add 1% for 10K
    Subtract 4% for Luxury
    .00030 and $2500 lease cash for both
    Thanks!

    Are there any numbers for 27 mo??

    Also, does Lexus lease CPO models for the 2017 year? If so, do incentives still apply?
  • kyfdxkyfdx Moderator Posts: 228,173
    slolankan said:

    Michaell said:

    slolankan said:

    Hello!

    Can you please provide the RV and MF for 2017 Premium and Luxury in So Cal?

    24 mo - 10k/12k
    Premium - .00030 MF
    Luxury - Same MF?

    36 mo - 10k/12k
    Premium - .00030 MF - ?? / 58%
    Luxury - Same MF? - / 54%

    Any incentives for Nov?


    Thanks!

    Premium - 65% (24/12) or 58% (36/12)
    Add 1% for 10K
    Subtract 4% for Luxury
    .00030 and $2500 lease cash for both
    Thanks!

    Are there any numbers for 27 mo??

    Also, does Lexus lease CPO models for the 2017 year? If so, do incentives still apply?
    Subtract 1% from 24 month residuals

    No info on CPO leases

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  • chisnowmanchisnowman Member Posts: 9
    Hi I just wanted to confirm some numbers for Illinois.

    Premium for 36 months. 10/12

    MF is 0.00030
    Residual is 59% for 10k, 58% for 12k and 56% for 15k?

    Lease cash on the Lexus offer site shows $4000. Is that true for Illinois?
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