Hi Dave. I doubt that anyone, probably not even dealers, knows exactly how good Lexus' "December to Remember" sales event is going to be yet. I can almost guarantee you though that its soon to be announced new lease program for the 2007 GS 350 AWD will be more attractive than its current program for it. If I was in the market for this car, I definitely would not lease one until I found out what the "December to Remember" sales event is like. Lexus is not providing any lease support on this model now, so it's not like you're risking missing out on anything by waiting.
Hi craigf14. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 Lexus GS 350 2WD with 15,000 miles per year are .00275 and 51%, respectively. The numbers for an otherwise identical 39 month lease are .00275 and 48%. The numbers for an otherwise identical 48 month lease are .00275 and 42%. As I mentioned in my previous post, if I was in the market for a GS right now I definitely would wait until later this month to get one. Lexus will probably introduce its "December to Remember" sales event then.
Hey Car man do you know if Lexus Financial Services offers any 24 or 27month leases. If they do can you tell me the residual and money factor for 12k a year.
Car Man, was offered 1 Dec, gs350, rwd, 36 mo, 15k / yr, 51% resid with .00325 factor, in Houston. factor seems high for tier 1 credit - no security dep. can you advise Dec lease details for 36mo / 15K from LFS ?
Please advise latest money factor and res. % for a GS 350 w/ AWD for a 12,000 mile lease 36 months. Unless there is a sweet spot anywhere up to 48 months.
Thanks
According to Roadfly.com Dec. #'s for 12000 miles 36 months is 56% res. and .00201 MF. Does that concur with your #'s.
Yes, kunalb, Lexus Financial Services does offer 24 month leases of vehicles. I haven't seen any info on 27 month leases through LFS through. If you were to lease a 2007 Lexus GS 350 2WD through it right now for 24 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00225 and 59%, respectively for consumers who qualify for its Tier 1+ credit tier.
Hi cwa318. this car's lease program varies depending upon how long you lease it for and its mileage allowance. For now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Lexus is no longer providing lease money factor support on 2006 models, but it does have $2,000 closeout dealer cash on the 2006 GS 430 right now. Make sure to take this cash into account when negotiating your car's capitalized cost. If you want to lease this car through Lexus Financial Services' right now, you will have to use its standard lease program. I believe that its buy rate standard money factor varies a little by region, but it should currently be around .00275 for consumers who qualify for its Tier 1+ credit tier. This car's 36 month, 15,000 mile per year residual value is currently 44%.
Hi dano16. Is this for a 2007 model? The money factor that you were quoted is a little on the high side. According to the latest information that I have seen, Lexus Financial Services' current buy rate lease money factor for the 2007 GS 350 2WD is only .00225 for consumers who qualify for its Tier 1+. As you can see, this is a lit lower than the factor that you were quoted. It wouldn't hurt to shop around with another dealer or two to see what sort of money factor they quote you for this model.
Here's the information that you're looking for, allagaroo. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 GS 350 AWD with 12,000 miles per year are .00225 and 54%, respectively for consumers who qualify for its Tier 1+ credit tier. This car's money factor is the same for 39 and 48 month leases.
Thanks car_man. Because the MF stays the same for 48 month leases and the residual drops to 45% it is the only LPS that has a very attractive 48 month lease. I don't know what the res. is for 39 months. If you are not tier 1 they are quoting .00235 MF. I like the car except for a hump on the inside of the center console that was rubbing against my leg????????
Our dealer added something called "First Payment Capitalized" to the gross cap cost
We already paid the first payment when picking the car up and I wasn't there the other day when my partner went there so I am not really clear what that is
'Cause to me it sounds like we paid the first payment with credit card and are paying it again in the gross cap cost
Hm net cap cost is from including the trade-in value, first down payment seems to not have been added
Is the total amount due at lease signing supposed to be added to capitalised cost reduction? or just the trade in?
What I have is: Amount due at lease signing: $3978.17 ($3300 trade-in + 678.17 cash first payment)
Gross Capitalized Cost: $40,962.50 the agreed upon value (dealer fee+wear and tear waiver included) +$678.17 first payment capitalized as per what the sales manager said +$216.83 of something, he says sales tax, not clear on what ----------------------------------- $41,857.50 gross cap cost total -$3300 trade-in adjusted cap cost ----------------------------------- $38557.50 - Net cap cost (adjusted cap cost is what they call it)
In the end they said $607.67 + 66.50 title + $3.99 sales tax = 678.17 cash at the dealer before taking the car ($626 actually before we re-did the lease due to false internet price they quoted us)
Advice to anyone out there about to buy: Check the itemization box in the Gross Cap Cost so you can see how they arrive at the total price, because things can get slipped in there
AND
make sure you are getting any specials and so on so you won't have to go back like us and point out we didn't get what they told us we got
This seems like a VERY good deal to me. Seems like something's missing.
Is it a 2007? If you build it on lexus.com, what is the MSRP? Your $3,500 down represents at least $111/mo savings (at 5% a year). So if I were going to lease that car in CA with no cap red, it would be about $770/mo...still an excellent deal.
I agree, it does sound like something's missing, the MSRP the dealer quoted me was $52,067 which is the same as the lexus website. He hasn't been forthcoming with how he's getting me to the deal he's quoted me, just promising me that he can do it, so I'm afraid when the car comes in he's going to try to re-trade, in which case I'll have to keep negotiating or walk. I should know if they keep their word in about two weeks, when the car comes in.
Quick update - I pushed the dealer for all the actual fees, I had a feeling they weren't being straight with me. There's also the $600 acquisition fee (has anyone ever negotiated this out?), $249 processing fee, $71 first year fees (what are those?) and VA sales tax, which must be paid up front. So my costs are considerably higher than I though, and my monthly payment is $624 (48 months, 15K miles). Based on the sales tax the sales price they've quoted me is $50,248.13, which is just $2,000 under MSRP, it doesn't sound like such a good deal anymore (car has Levinson Package), any thoughts? Thanks,
Hi berisky. This car's lease program varies depending upon the term and mileage allowance that you choose. For now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 GS 430 with 15,000 miles per year are .00194 and 49%, respectively for consumers who qualify for its top credit tier. This program may vary slightly by region.
Hi lexusmonkey. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 Lexus GS 450h with 15,000 miles per year are .00245 and 51%, respectively for consumers who qualify for its top credit tier. This program may vary slightly by region.
Hi dras. You never mentioned the selling price or MSRP of the car that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this car's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what these numbers are.
Oh by the way, dras. I just noticed that you are considering making a $3,500 capitalized cost reduction on this car. I personally don't think that this is a good idea. I always advise consumers not to make large down payments on leased vehicles because if their vehicle is totaled in an accident or stolen and never recovered, their down payment will disappear. Consumers can and should lease any vehicle that they are interested in without making any cap cost reduction.
Hey dras. Lexus Financial Services charges a $600 acquisition fee on every vehicle that it leases. Individual dealers do not have the authority to waive this charge. I'm not sure what the "processing fee" that you mentioned is, but it looks like another name for want is commonly called a doc fee. Doc fees really aren't anything more for dealers to pad their profits on deals.
A base 2007 Lexus GS 350 AWD has a whopping spread of more than $5,500 between its full MSRP and dealer invoice price. A $2,000 discount still leaves a lot of room to play with. I am not personally all that familiar with what the market is like for this model in your area right now, so it is difficult for me to say if you can do better than this but you may be able to get an idea if you can by visiting the following discussion: "Lexus GS: Prices Paid & Buying Experiences".
Car_man, thanks for the feedback. The MSRP for the car, as quoted by the deal is $52,067.00, which matches up with the MSRP on the Lexus Website for the same options. I believe they are waiving the destination charge as part of the deal.
Car_man, the market in the DC area seems pretty tight, I've talked to three dealerships, only one had a car in stock with what I wanted, and the other two were waiting for more to come in. Seems like they're not easy to come by. Lindsay Lexus in Alexandria, VA just got the exact car I'm looking for in today, I'm going to look at it tonight and will let people know the deal I finally work out with these guys.
You're welcome, dras. OK, so this car's MSRP is $52,067. What is its selling price? Is the "waiver" of this car's $715 destination charge the only discount that you are receiving? You should be able to negotiate a larger discount than that.
Thanks for the information, dras. If the supply of this car is that tight in your area than you may indeed have trouble negotiating a decent discount on one.
Here's the information that you're looking for, berisky. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 Lexus GS 350 2WD with 12,000 miles per year are .00194 and 52%, respectively.
Car_man: I ended up getting the car for $3000 below MSRP, got the delivery charge waived. They also screwed up when they quoted me the residual, they had quoted me for 12,000 miles when I had requested 15,000, they ended up giving me the 12,000 mile residual for a 15,000 mile/year lease.
Hey dras. A $3,700 discount on this car isn't bad, especially if it is in such short supply as you mentioned. It sounds like you did well. Enjoy your new car .
I've seen a factory demo -- 6000 miles on the vehicle, but never registered -- they'll drop about 5000 from MSRP and offer it on the Lexus money factor -- seems quite good. 15K miles, 50% residual and 4 year lease. wouldn't mind seeing the formula for figuring out the lease payments when you know the residual, the price, and the money factor.
has anyone used leasecompare.com?? How reliable are the numbers on the site? I found, in comparison to the first quote I got from the LExus Internet Sales rep, that they were much much lower> Should I rely on them for my negotitation> Thanks
I used leasecompare.com 4 years ago, when I leased the CLK 320 I have now. It was legitimate - they use banks (in that case it was US Bank), rather than the manufacturer's financing arm. When I went to the Mercedes dealer, I showed them that my bank leasing was better than their Mercedes Benz Credit Company leasing. Funny thing was that the finance manager at the dealer (MB of Escondido) realized that he had access to the same bank, so I let them arrange it and left leasecompare.com in the lurch. Not very nice of me, but it is the auto business after all.
Hi myerslaw. The problem that I personally have with demos is that dealers never seem to be willing to discount them enough for me to personally justify buying what is essentially a low mileage used vehicle that qualifies for new vehicle incentives over a brand new model. If I was in the market for a Lexus GS, I personally would need a selling price that's well below dealer invoice to justify purchasing a demo that already has $6,000 miles on it and a discount of $5,000 on a car that has such a big margin between its full MSRP and its dealer invoice is not well below invoice.
Car_man, I've got a question regarding a deposit to reserve a car for future purchase. I was made an offer last week from a local dealer for a GS350RWD with navi, 18" wheels and summer tires, ventilated seats, rain sensing wipers with the adaptive lighting, a power rear sunshade, XM radio, a rear spoiler, and the preferred accessory package.
The MSRP is $49,483 and I got the dealer down to a selling price of $44,311. The dealer offered a money factor of 0.00225,a residual value of 52%, and no cap cost reduction or security deposit on a 36 month / 12,000 mile per year lease. They also add the $600 leasing fee to the cap cost and would not budge on requiring a $389 doc fee at signing.
I felt I could get a little better plus I could avoid those fees. So, I went to work emailing this offer to 15 other dealers within a 250 mile radius. No one was able to match the offer after a few days and several bowed out immediately stating "that's a great deal, we can't beat it, enjoy your new car!".
So, I accepted the dealer's offer last night and left a $500 deposit to reserve the car for myself and prevent someone else from taking it. The car is currently on a boat and due into port on the 19th.
Now, I've got another dealer stating he can get me the car at a better deal. I haven't seen his offer yet but I'm curious that if it is a better deal am I tied into the one on it's way to port because I left a deposit?
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I have been told by 2 dealers that the "December to Remember" has begun. Can you confirm this?
Would appreciate any feedback.
I live in Oklahoma City .....anyone have any experience buying in OKC and what I can expect to pay over invoice?
How is their service department?
Thanks
was offered 1 Dec, gs350, rwd, 36 mo, 15k / yr, 51% resid with .00325 factor, in Houston. factor seems high for tier 1 credit - no security dep. can you advise Dec lease details for 36mo / 15K from LFS ?
Please advise latest money factor and res. % for a GS 350 w/ AWD for a 12,000 mile lease 36 months. Unless there is a sweet spot anywhere up to 48 months.
Thanks
According to Roadfly.com Dec. #'s for 12000 miles 36 months is 56% res. and .00201 MF. Does that concur with your #'s.
Thanks
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We already paid the first payment when picking the car up and I wasn't there the other day when my partner went there so I am not really clear what that is
'Cause to me it sounds like we paid the first payment with credit card and are paying it again in the gross cap cost
Thanks
If it doesn't, then you might have a problem. It seems they go out of their way to make leasing paperwork confusing.
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net cap cost is from including the trade-in value, first down payment seems to not have been added
Is the total amount due at lease signing supposed to be added to capitalised cost reduction? or just the trade in?
What I have is:
Amount due at lease signing: $3978.17 ($3300 trade-in + 678.17 cash first payment)
Gross Capitalized Cost:
$40,962.50 the agreed upon value (dealer fee+wear and tear waiver included)
+$678.17 first payment capitalized as per what the sales manager said
+$216.83 of something, he says sales tax, not clear on what
-----------------------------------
$41,857.50 gross cap cost total
-$3300 trade-in adjusted cap cost
-----------------------------------
$38557.50 - Net cap cost (adjusted cap cost is what they call it)
In the end they said
$607.67 + 66.50 title + $3.99 sales tax = 678.17 cash at the dealer before taking the car ($626 actually before we re-did the lease due to false internet price they quoted us)
Advice to anyone out there about to buy:
Check the itemization box in the Gross Cap Cost so you can see how they arrive at the total price, because things can get slipped in there
AND
make sure you are getting any specials and so on so you won't have to go back like us and point out we didn't get what they told us we got
thanks kyfdx
Money factor and Residual for GS430 right now?
Thanks.
Any money factors and residuals for a 36 month 15K miles lease for the hybrid GS that LFS is offering?
GS 350 AWD
Mark Levinson Pacakage
Ventilated Seats
Rear Spoiler
$3,500 down (all cap reduction)
$600 per month (pre-tax)
36 month
15,000 mile/year leaes
I can't remember the money factor, but residual was 53%. Any thoughts?
Is it a 2007?
If you build it on lexus.com, what is the MSRP?
Your $3,500 down represents at least $111/mo savings (at 5% a year).
So if I were going to lease that car in CA with no cap red, it would be about $770/mo...still an excellent deal.
Beverly Hills Lexus quick quoted me about $725/mo incl tax for a 36/36 lease on a RWD loaded.
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A base 2007 Lexus GS 350 AWD has a whopping spread of more than $5,500 between its full MSRP and dealer invoice price. A $2,000 discount still leaves a lot of room to play with. I am not personally all that familiar with what the market is like for this model in your area right now, so it is difficult for me to say if you can do better than this but you may be able to get an idea if you can by visiting the following discussion: "Lexus GS: Prices Paid & Buying Experiences".
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I want to know the best deal for SoCal.
Thanks.
Money factor & Residual on 36 month / 36k miles?
Thanks.
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I ended up getting the car for $3000 below MSRP, got the delivery charge waived. They also screwed up when they quoted me the residual, they had quoted me for 12,000 miles when I had requested 15,000, they ended up giving me the 12,000 mile residual for a 15,000 mile/year lease.
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myerslaw
Just leased (36/36) Black/Black 2007 GS350 2WD w/Mark Levinson, Spider Alloy Wheels ($), Sirius after market integrated into Nav, and tint for $840/mo - $1380 drive off.
Here is a link to the formula that you can use to calculate your car's lease payment: Calculate Your Own Lease Payment.
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The MSRP is $49,483 and I got the dealer down to a selling price of $44,311. The dealer offered a money factor of 0.00225,a residual value of 52%, and no cap cost reduction or security deposit on a 36 month / 12,000 mile per year lease. They also add the $600 leasing fee to the cap cost and would not budge on requiring a $389 doc fee at signing.
I felt I could get a little better plus I could avoid those fees. So, I went to work emailing this offer to 15 other dealers within a 250 mile radius. No one was able to match the offer after a few days and several bowed out immediately stating "that's a great deal, we can't beat it, enjoy your new car!".
So, I accepted the dealer's offer last night and left a $500 deposit to reserve the car for myself and prevent someone else from taking it. The car is currently on a boat and due into port on the 19th.
Now, I've got another dealer stating he can get me the car at a better deal. I haven't seen his offer yet but I'm curious that if it is a better deal am I tied into the one on it's way to port because I left a deposit?