2013 and earlier Lexus GX 460 Lease Questions

plt03

I'm from the Bay Area. Just got a quote from a local Lexus dealer for $650 (including tax - without tax it's $600) with $3000 down, leasing for 36 months.

My question for xhristina then is was your price with or without taxes, and how many miles did you get per year? Also, did they give you the rear dvd system along with the navigation?

We negotiated quite a long time with these folks. So if you were able to get $617 with only $1200 down I would think that's really a great deal.

dotupside

Car_man,

I'm looking to do either a 36 or 48 month lease with 15K mi per year - do you have MF and residuals for September? (top tier credit)
Also, are you aware of any factory to dealer incentives for this month? If not should I gamble and wait until October?

Looking at a 2006 with Nav & DVD in CT.

MSRP: $56,603
Invoice: $49,389
Dealer offer: $50,889

I'm inclined to wait for it to drop below invoice, but maybe the demand is more significant than I think.

Thanks!

susanw6

I am in South Florida. My 2003 ES300 lease is up in Feb'07. I'd like to lease a GX470. Since the dealerships are discounting the 2006's now, should I pursue a deal(including a dealer buyout of my existing lease=$19,500), or am I better off waiting until Feb when there is no buyout involved and just go for a 2007? Is December a better time to do this when it is truly the end of the year?

CarMan@Edmunds

Here's the info that you're looking for, dotupside. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2006 Lexus GX 470 with Navigation and DVD with 15,000 miles per year are .00142 and 54%, respectively. The numbers for an otherwise identical 48 month lease are .00142 and 44%. I am not aware of any dealer cash incentives on this truck right now, but even if Lexus was providing dealer cash on it, its dealer cash is usually not compatible with its special lease money factors so it wouldn't matter.

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CarMan@Edmunds

Hi susanw6. Breaking your current lease this early is probably going to cost you a decent chunk of change. If I was in your situation, I personally would wait until I was closer to the scheduled end of my current lease to get a new vehicle. Even if you only wait until December, you'll still save money plus you will be able to take advantage of the "December to Remember" special lease program that Lexus usually runs around that time of the year.

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susanw6

Thanks for the advice, Car Man! I'll check back with you after I find out the offer in the December to remember lease special.

CarMan@Edmunds

No problem, susanw6. Talk to you then.

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bapplegate

I'm interested in the current Money Factor and Residuals for an '07 GX470. 36 and/or 48 month lease, 12,000 miles per year, with minimum down, and excellent credit.

MSRP $53,318
Invoice $44,997

Thanks,

Bill

CarMan@Edmunds

Hi Bill. Here's the info that you're looking for. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 GX 470 without the entertainment system with 12,000 miles per year are .00275 and 57%, respectively for consumers who qualify for its Tier 1+ credit tier. The money factor would be the same for an otherwise identical 48 month lease, but its residual value would be 47%.

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bapplegate

Thank you so much. If it helps, here is the deal I was offered by a Southern California internet manager. 2007 GX470 w/Nav/M Levinson audio pkg, Preferred Accessory pkg, third row seat w/ rear a/c, rear spoiler, tow prep. MSRP $53,560 and their offer is $47,253. Again, the lease info is a really big help.

Bill

susanw6

Hey carman, once you have the money factor and residual, how do you actually calculate the lease payment. I want to go to the dealer with my payment already calculated based on what I am willing to pay for the car. How do I use the info you are providing?

susanw6

My current ES300 lease is up in Feb. '07. I want to lease a GX470 and I'd like to take advantage of the December lease deals. I read in the Lexus Owner Club Forum (Nov 2005) that it was possible to negotiate a deal in December and hold off delivery until Feb, as long as you were approved in early Jan. Is this true?

CarMan@Edmunds

You're welcome, Bill. Since you mentioned its prices, I can work up a sample lease payment on this truck for you. According to my calculations, if you were to lease a 2007 Lexus GX 470 without the entertainment system with an MSRP of $53,560 and a selling price of $47,253 through Lexus Financial Services right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $679. If I was in the market for this truck, I personally would wait until later this month to get one. I suspect that Lexus will introduce its "December to Remember" sales event then. Given the lack of lease support that is available on the GX right now, its new lease program for it is likely to improve.

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CarMan@Edmunds

Hey susanw6. The following informative article that is available here at Edmunds.com describes exactly how to calculate lease payments on vehicles: Calculate Your Own Lease Payment. Check it out and let me know if you have any questions.

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jyd

Car_man:

I just received an e-mail from a Lexus dealership in Southern CA that says that the December To Remember event has begun. The e-mail does not mention any specifics other than the deal runs through Dec. 31, 2006. Can you confirm if the December To Remember event has in fact begun? If the December To Remember event has begun can you tell me what the money factor and residual are for a 2007 GX470 with RSE & NAV for 36 mos. with both 12K and 15K? Also, can you tell me if the residual is the same for a 2007 GX470 with the RSE & NAV and a 2007 GX470 loaded with the Sport Package?

Thanks,

JD

4x4lucky

This is what my dealer was offering:
Bay Area Calif.

GX470
Nav, Mark L audio, towpkg, 3rd seat, mats, spoiler, pref accessory pkg.

36 months, 12000 miles
Excellent credit: 800+

Msrp: 54048 + 400 for XM radio.
Offer (Cap price): 45852
Invoice: 47042 + 400 (for XM)
Money factor: .00275

I forgot the residual %.

20 cents per mile over the limit.

Money down: 1070

Pmt incl. tax: 700.45

Is this a good deal? What are the .0017 rates above, are they better?

My dealer said that his quotes was a December to Remember deal.

freedonia

Does anyone know the lease deal (residual and money factor) Lexus is currently offering on the GX470 for its lowest mileage lease option? Thanks.

moose08

Carman,
Can you tell me the money factor and residual Lexus is offering on the GX470 for a 36 month, 10k/yr lease during the December to Remember sales event?

Thanks

cdfwife

Hi, FWIW, I purchased my GX Jan 31, 06, but got it at my original Dec to Remember numbers. My dealer, Crown Lexus, (specific saleswoman, of course) honored my quote from Dec, which had been all via email. (I was ready to lease in December, changed my mind, then decided to move forward in January.) Having the original emails handy was all my salesperson needed to honor the deal. I picked my car up, and it was still wrapped in plastic from head to toe, pristine. They found me exactly the model/color I needed. It was an absolutely stellar buying experience. I live in San Diego, but it was worth the drive.

My personal experience was that the December to Remember deals are the best around, and never got more favorable again. I leased (but could have also purchased) at invoice, and my money factor was.0012 with tier 1 credit, Zero down, 15k miles per year for 36 months. Took a friend with me, and they made her a deal at invoice if she bought that day.

Good luck with your purchase, don't hesitate to look for a bargain, they are out there if you are willing to look.

cdfwife

Oops, I almost forgot, my payments on the above lease are $635 per month, no money down, 36 mo. Mine is almost fully loaded, nav,rse,tow,spoiler,levinson, etc. Keep in mind that the "largest" San Diego dealer laughed me off the lot when I asked him to give me the same deal as Crown. He later called me back to offer me $500 over invoice, but I had already went ahead with my offer from Crown. Crown is a fairly large volume dealer and can find almost any model.

Happy Hunting.

CarMan@Edmunds

Hey JD. Lexus' "December to Remember" event officially began on November 14th. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 GX 470 with entertainment and navigation and 15,000 miles per year are .00225 and 54%, respectively for consumers who qualify for its Tier 1+ credit tier. This truck's 12,000 mile per year residual value would be 2% higher. The only option that has an impact upon this truck's residual values is the entertainment system. The residual values for units without his system is 1% higher than it is for units that have it.

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CarMan@Edmunds

Hi freedonia. Lexus Financial Services' "December to Remember" buy rate lease money factor for the 2007 GX 470 is .00225 for any length lease for consumers who qualify for its Tier 1+ credit tier. Its residual values vary depending upon how long you lease it for. LFS' current 36 month, 12,000 mile per year residual for a 2007 GX 470 without the entertainment system is 57%.

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CarMan@Edmunds

Hi moose08. Lexus Financial Services' "December to Remember" buy rate lease money factor and residual value for a 36 month lease of a 2007 GX 470 without the entertainment system with 12,000 miles per year are .00225 and 57%, respectively. I provided you with this truck's 12,000 mile per year residual value because I have never seen info for a LFS lease with 10,000 miles per year. It may not lease vehicles with that low a mileage allowance.

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suviwai

I have a lease on an RX330 that ends in early March 2007 (which will be 3500 mi over). What kind of "deal" should I expect if I agree to lease a GX 470 now? I am considering other SUVs but would stay with Lexus if they offer a good incentive.
I assume I could get the "December to Remember" deal (by 1/2) and take delivery later in January? Is this worth it?

hoggolfer

First, thanks for the great advice on this board! The research really helped me with my acquisition. $342 over invoice with Dec to Remember rates, tax incentives.

I just leased a 2007 GX470 $565 a month. Options: NAV,3rd row seat,rear spoiler, tow, preferred package
Details:
MSRP $53,894
Aquisition Cost: $47,352 (includes Regional Mktg/Adv)
12,000 miles annual
36 months
RV 57%
9 security deposits
MF .00133
$0 down (no cap reduction)
$600 acquisition fee
Taxes,Title/Registration included
Monthly Payment $565

Hope this helps!

suviwai

Wow! That sounds like a great deal. Thanks, I will use this as a benchmark.
Can you clarify two things? What was the 9 security deposits you mentioned? Also, I assume the $565/month was excluding taxes?

hoggolfer

With Lexus Financial Services, you can elect to apply up to 9 security deposits. Each security deposit lowers the money factor by $.0001 (from .00225 to .00135 in my case).

The $565 excludes taxes. My taxes are paid as a part of the December to Remember.

jb11393

Wow, sounds like a great deal. I am currently in the process of trying to lease a GX470 with the same options but am getting quotes of $900 a month so far. May I ask what dealership you leased your Lexus through and what city.

Thanks and again, great deal!!

Jason

suviwai

$900 is crazy. I probably will go for a different SUV, but was offered $701/month for 36 months, 15K mi/yr, with $0 down (configured MSRP was about $52K), including 2 pmts on my current car.

jb11393

SO, how much did the 9 security deposits cost you up front or total and what are they or what do they do. I have never heard of that before.

Jason

hoggolfer

LFS allows you to put additional security deposits down on a lease up to a maximum of 9. Each security deposit is equal to your monthly lease payment. More info is available on the Lexus website.

In my case, the 9 add'l security deposits were about $4,500.

I would highly recommend this approach vs. putting money down upfront. The reason being is that at the end of the lease you get your security deposits back...so at the end of my lease I get my $4500 back...where as with the down payment/cap reduction you lose that money.

hoggolfer

WOW! $900 seems way too high for a 36 month lease on a GX470.

I would recommend that you print out my earlier note with the lease detail, take it to your local Lexus dealer, and ask them to match this offer. We live in the Dallas metroplex and both delears were competiting for my business. Do your homework and be prepared to walk out the door.

Good luck!

cdfwife

Jason,

I rec'd a similar deal to Hoggolfer last January on a fully loaded GX minus KDSS. My payment is 635 total, but I did not pay the security fees or a down payment. My MF at that time was .0012/ vehicle was at invoice whether I bought or leased. Hoggolfer got a stellar deal too, and if you are willing to shop a few hungry dealers, you should be able to do just as well. Bought mine in SoCal.

Have fun!

sassimiz

Wow, I was just quoted $737/mth for a 2007 GX with nav pkg and 12k/yr...$1400 down (fees and taxes).

So, it looks like I can do much better, huh?

What do I use as a negotiation tactic? I am so bad at this...

guest

Hi, I just least a 2007 gx470 with nav pack for $615/mth including tax, with only first payment down. also did the multiple security deposits. with the deposits it took $77 off the monthly payments. well worth it. hope this helps. msrp was $53500.00

hoggolfer

Today is the last day for December to Remember...Look at my earlier post on the details of my lease (that has all the info that you and your dealer needs). Take that info into you Lexus dealer and ask them to match. Use this information and be prepared to walk/shop other dealers.

jb11393

Just curious, how much were your security deposits?

hoggolfer

Security Deposit roughly equals one month payment. (it may be rounded to the nearest $25 increment). So if your payment is $500/month, each security deposit is $500.

CarMan@Edmunds

Hi suviwai. Lexus' "December to Remember" lease program for the 2007 GX 470 wasn't too bad, but unfortunately it is no longer providing lease support on this model in January. If you are looking for a special lease program, this isn't the truck for you.

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CarMan@Edmunds

Congratulations on your new truck, hoggolfer. Thanks for taking the time to share the details of your deal with everyone. Enjoy your new GX .

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pk13

Hi Car_man,

I recently requested lease quote for 36 Mo. 12K mi/yr and no down in So. Cal. for GX w/ Nav, Third row seat and DVD ent. I rec'd 3 so far: $777+tax, $754+tax and $710+tax. Do you think these are still too high? I own ML320 and I have no rush. What do you suggest? -- wait or go more aggressive?? BTW, what are current MF and LRV?

hbeltran

Just took a test drive and love it. I have to see what I want QX56 or the GX470.
Residual Value
The QX56 was quote at
51% 36 months
31% 48 months

Does any one know what the residual is on
The GX470 for 36 and 48 months. also what are the teir levels for Lexus on the credit. I have a 720 Am I on the low end?

pk13

I'm negotiating a lease on GX470. So far the RV is about 51-55% for 36 months lease. Best quote so far is $617+tax w/ 9 security deposits (many thanks to hoggolfer!!!) - options: nav, 3rd row seat and DVD entertainment. $1088 down (tax+lic+1st payment) + 6K deposits. msrp is $55460.
Hoggolfer -- do you think it's a fairly ok deal or should I try harder??

whittler2k1

Carman, et al

Can you please post the current March resdiual and MF for the GX 470. I am just about to start negotiations toward the end of this month and would like to be armed with current info. I need the rates for both RSE and w/o please.

Thanks in advance

smartshopper9

I would like to know the lease terms as well. We're looking for the GX470 adding only the 3rd row, no other options needed. Thanks.

CarMan@Edmunds

Hello pk13. You never mentioned the selling price or MSRP of the GX 470 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 truck'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 work give you my opinion of this deal if you let me know what these numbers are.

Lexus is not currently providing any lease money factor support on the 2007 GX 470. As a result, if you were to lease one through Lexus Financial Services right now, you would have to use its standard lease money factor. Its buy rate standard factor varies slightly by region, but it should currently be around .00275 for consumers who qualify for its "Tier 1+" credit tier. Its current 36 month, 12,000 mile per year residual value for an '07 GX 470 without the entertainment system option is 56%.

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smartshopper9

CarMan,
I do not understand how to interpret those lease numbers. We are looking to lease an '97 GX 470 with no options other than the 3rd row. We have good credit, so I asssume we'll qualify for Tier 1.
What exactly should we be asking the dealers and what numbers should we be looking at. We are starting competitive pricing now and want to take the vehicle by the end of the month. ALL HELP IS GREATLY APPRECIATED -- We are very confused!!!

CarMan@Edmunds

Hi hbeltran. Your credit score is definitely not low. I believe that Toyota and Lexus Financial Services require lessees to have a score of 730 or higher though to qualify for their "Tier 1+" credit tier. Your score probably qualifiers you for their "Tier I" tier, which usually has factors that are .00010 higher.

Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 GX470 without the entertainment system and with 15,000 miles per year are .00275 and 54%, respectively for Tier 1+ customers. The numbers for an otherwise identical 48 month lease are .00275 and 44%.

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CarMan@Edmunds

Hi pk13. You never mentioned the selling price or MSRP of the GX 470 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 truck'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.

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CarMan@Edmunds

Hello whittler2k1. Unfortunately, Lexus is not providing any lease support on the 2007 GX 470 this month. As a result, if you were to lease one through Lexus Financial Services right now, you would have to use its standard lease money factor. Its buy rate standard lease money factor varies slightly by region, but it should currently be around .00275 for consumers who qualify for its Tier 1+ credit tier. This truck's residual values vary by term and 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. LFS' current 36 month, 15,000 mile per year residual value for an '07 GX 470 without the entertainment system is 54%.

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