2013 and earlier Lexus GX 460 Lease Questions

etort

Hi:

I don't think this is a great deal by any means, but could you give me a ballpark on what may be reasonable.

2009 gx470
Black with gray interior
nav/levinson
3rd seat/air
tow prep, spoiler, tow hitch, mats, preferred access pkg, exhaust tip
msrp $53663 ( INCLUDING dest charge of $825)
invoice right about $47,000
purchase price $49,000

36 mo
12,000 miles/year
mf .00279
residual $25,221
payment $990/month

thanks

etort

inthistogether

with the gx 460 coming at the end of the year, the 470's should have an incentive on the way. i was quoted the same price on my lease. gonna wait and see if they have a similar year end sale like they did last august...then pull the trigger

etort

Thanks for your reply
I don't have the option of waiting.
I was able to negotiate the following.

Same car ( nav/levinson, ac third row, a few other goodies)
invoice = 47,010 (incl dest charge)
purchase price = 47,010
doc fee = 150
36 months
12,000 mi per year
mf = .00265

$925/month
$925 due at signing ( first month payment)

Salesman said he will take a "tax credit" from the manufacturer in order to make money on the deal so he could sell at invoice.

Good deal or not?

etort

I don't have the option of waiting for the 460s
I was able to negotiate the following.

09 gx470 ( nav/levinson, ac third row, a few other goodies)
invoice = 47,010 (incl dest charge)
purchase price = 47,010
doc fee = 150
36 months
12,000 mi per year
mf = .00265

$925/month
$925 due at signing ( first month payment)

Salesman said he will take a "tax credit" from the manufacturer in order to make money on the deal so he could sell at invoice.

Good deal or not?

thanks

Eric

dolphin5

Car_man, can you post the 36 month, 15k mi/yr lease money factor and residual on a GX470. I'm in ny and am also wondering if there's any lease cash or other rebates available.

thank you

CarMan@Edmunds

Here you go, dolphin5. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2009 GX 470 with 15,000 miles per year are .00255 and 48%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

Unfortunately, I do not believe that Lexus is currently providing any cash incentives on this truck.

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calael

Car_man, can you post the 48 month & 60 month, 15k mi/yr lease money factor and residual on a 2010 GX460?

CarMan@Edmunds

Hey calael. Lexus Financial Services' current buy rate lease money factor and residual value for a 48 month lease of a 2010 GX 460 with 15,000 miles per year are .00245 and 45%, respectively for consumers who qualify for its top aka "Tier 1+ credit tier.

The numbers for an otherwise identical 60 month lease (which I advise against entering into) are .00245 and 36%.

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wdyl9395

Great Info. I'm looking to get into a 39-48 Month on the GX 460 or 470. I'm ok with 12k Miles but want the Navi and the DVD. I'm thinking I should be able to get this done in the mid sixes monthly with nothing or nearly nothing out of pocket....any thoughts?

calael

Based on my research via the Lexus website....the mid sixes are not possible unless you are making a downpayment. You might want to check out the website because the GX 460 with the features you mentioned runs about 60k. However; leasing is also an option on a used GX 470 too, if it's certified. Hope this helps!

wdyl9395

I kind of figured and thanks for the info. I think I'm going to get the GX 460 my question is do you think I am better off waiting till the summer or is there some reason to do it sooner rather than later

calael

My guess would be later because there will probably be more negotiating room once the supply and demand decreases. Right now they are pretty much being built to order and the dealers do not have any in stock and aren't coming off of the sticker price much at all. Good luck!!

moolman

Hi Carman,
Can't believe you're still on here, it's been 3 years since I leased a car. What are the current rates for 10 or 12K 3 year leases on the GX460.

Thank you once again.

Alex

CarMan@Edmunds

Thanks Alex...I guess . Welcome back. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a base 2010 GX 460 with 12,000 miles per year are 00190 and 54%, respectively.

The residual value for a lease with only 10,000 miles per year is 1% higher.

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carinatl

Carman,

Do you have the October MF and Residual for a 2010 GX470?

Masachusetts
36mo 12k miles/yr

newcar49

Car_man,

Could you please post the current money factor for 48 months lease, 12000 miles per year on a basic 2010 lexus GX460 with excellent credit score? I was offered 0.00285 which I felt way too high. Please help.

CarMan@Edmunds

Hi carinatl. Lexus Financial Services' October buy rate lease money factor and residual value for a 36 month lease of a base 2010 GX 460 with 12,000 miles per year are .00210 and 51%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

When negotiating your lease on this truck, make sure to take advantage of the $2,000 dealer cash that is currently available on it.

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CarMan@Edmunds

Here you go, newcar49.

Lexus Financial Services' October buy rate lease money factor and residual value for a 48 month lease of a base 2010 GX 460 with 15,000 miles per year are .00210 and 42%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

As you suspected the money factor that you were quoted is a little on the high side. Try to get the dealer to use the .00210 factor to calculate your vehicle's payment.

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bluestreaking

Carman,
What is the November money factor and residual on a 2011 gx460, 36 month and 10K miles per year? MSRP is 59,400 with a Costco price of 55,250. Also, are there any incentives in Texas?
Thanks,
Mark

CarMan@Edmunds

Hi bluestreaking. Lexus Financial Services' November buy rate lease money factor and residual value for a 36 month lease of a base 2011 GX 460 with 10,000 miles per year are .00210 and 52%, respectively for consumers who qualify for its top aka Tier 1+ credit tier.

The only cash incentive that is available on this truck right now is $1,000 to current Acura, Audi, BMW, Cadillac, Infiniti, Lincoln, and Mercedes-Benz owners.

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carinatl

Carman,

When negotiating a lease, can the price per mile over the alloted mileage be negotiated?

CarMan@Edmunds

Hi carinatl. Unfortunately, I don't believe that banks will negotiate the excess mileage charge on leased vehicles. Having said that, most banks will provide lessees with a discount for excess miles over 15,000 purchased at lease signing over what it would have cost them in excess mileage penalties at lease-end.

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bluestreaking

Hi Car_man,

Looks like the "December to Remember" promotion is out. Can you get the MF and residual for the 2011 GX460 base with 10K and 12K per year? And will these numbers be the same for November and December? Also, what are the actual promotion discounts?

Thanks!
Bluestreaking

logic_3

Here is the numbers I can use some help with. Negotiating a lease in MI for my mother-in-law. Here is where we have started with the dealer:
RX 350 AWD Base $39,375
Comfort Pkg.: $1,950
Cargo Spider Net: $49
12-Spker Prem Audio Sys: $110
Navigation: $2,465
Intuitive Parking: $500
Premium Pkg: $2,400
Towing Prep Pkg: $238
Remote Start: $375
Wood & Leather Steering: $330
Accy Pkg: $242
Paint Protect: $429
Cross Bars: $259

---Total Options: $9,347

Delivery: $875

Total MSRP: $49,597

Sales Price: $46,199.82
Money Factor: .00150
3yr Residual: 57%
36 mth lease with 15k miles/yr

Mthly Payment Base: $609.75
Mthly Sales Tax: $36.59
Total Payment: $646.34

Having trouble right now coming up with the same numbers the dealer did. Wanted to know if the money factor and residual values I have are correct for this month. What do you think about the sales price of the car? Should I be able to get it lower? They sales person also mentioned a lease acquisition fee for $700 and a doc fee of $190. Wondering if those sound right or if I should haggle them down.

logic_3

oops, moving this to the RX 350 thread.

bluestreaking

Anyone have an opinion on this offer:

2011 GX 460 base with
Convenience Pkg
Nav System
Comfort Plus Pkg
Tow Hitch
Exhaust Tip
Glass Break Sensors
Remote Engine Start
Trunk Mat, Cargo Net, and Wheel Locks

MSRP $59,154

Negotiated Price $52,500

36 month lease with $2000 down plus first month payment (Houston, TX taxes)

12K per year $769 per month, (money factor .0016 and 54% residual)
10K per year $754 per month, (money factor .0016 and 55% residual)

Anyone think I can get anything else out of the deal? (money, accessories, rates)

Thanks,
Bluestreaking

CarMan@Edmunds

It certainly is Bluestreaking. Lexus Financial Services' December to Remember buy rate lease money factor and residual value for a 36 month lease of a 2011 GX460 with 12,000 miles per year are .00160 and 54%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

The numbers for an otherwise identical lease with only 10,000 miles per year are 1% higher.

The discount that you are able to negotiate on this truck is between you and the dealer. The only cash that Lexus is providing on it is $1,000 to current owners of select luxury competitors.

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bluestreaking

I ended up getting the SUV for $52250 before TT&L. MSRP was $59,154.

nascarfever

Just purchased a brand new 2010 Lexus GX460 Premium Silver w/Blk int., navigation, Mark Levinson audio for $52,900 in Northern California.
MSRP was $62,800

CarMan@Edmunds

Thanks for the info, bluestreaking. That sounds like a solid discount to me.

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savvyshopper2

2011 GX 460 base with
Convenience Pkg
Nav System
Comfort Plus Pkg
Tow Hitch
Exhaust Tip
Glass Break Sensors
Remote Engine Start
Trunk Mat, Cargo Net, and Wheel Locks

MSRP $59,154

Negotiated Price $53,500
36mo.
45,000 miles
Money Factor - 0.00185
Residual: 52%
______________
LEXUS financial provides: $1000 towards downpayment
Also: Sales tax credits for entire transaction

____________
I pay $1200 at signing (1st. payment + some of the miscellaneous fees)
Total of 35 remaining payments at $802/mo.

Buyout Price: $30,900

Good deal?

varezina

Can anyone give me the current money factor and residual value for a 2011 Lexus GX460 Base for a 48 Month Lease?

Thanks.....

CarMan@Edmunds

I sure can varezina. Lexus Financial Services' March buy rate lease money factor and residual value for a 48 month lease of a 2011 GX 460 Base with 15,000 miles per year are .00175 and 51%, respectively.

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daxt24

Hello and thank you for having this forum! I have a couple questions.
1. What is the money factor and residual on a 12k and 10K lease on 36, 42, and 48 months.
2. What is the average discount you have seen on a Gx460 non premium with an MSRP of 58,500?
3. What is your stance on acquisition fees and putting money down on a lease?
Lastly, I will be asking a similar question in the Land Rover Lr4 forum so I apologize for my redundancy!

Thanks so much.

CarMan@Edmunds

You're welcome daxt24.

Lexus Financial Services' March buy rate lease money factor and residual value for a 36 month lease of a base 2011 GX460 with 12,000 miles per year are .00175 and 53%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

The numbers for an otherwise identical 39 month lease are .00175 and 50%.

This truck's 48 month numbers are .00175 and 44%.

If you were to lease with only 10,000 miles per year its residual values will be 1% higher.

Everyone who leases through LFS has to pay a $700 acquisition fee. You can either pay it at signing or roll it into your vehicle's capitalized cost to bake it into your monthly payment.

I always advise consumers not to make any sort of capitalized cost reduction on leases. Those who make them risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered.

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jrleaman

Hi,
I'm looking into leasing a base GX460 and was wondering what the current buy rate lease money factor and residual value for a 36 month lease with 12,000 miles per year are from Lexus Financial Services. The vehicle we're looking at has an MSRP of around $56K. Any thoughts on the target negotiated price I should try to get them to are welcome.

Thanks!

CarMan@Edmunds

Here's the information that you're looking for, jrleaman. Lexus Financial Services' July buy rate lease money factor and residual value for a 36 month lease of a base 2011 GX460 with 12,000 miles per year are .00210 and 55%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

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landerman

Hey Car_Man,

Need your advice. Looking to purchase a new GX 460 premium and got what seemed to be some pretty crazy numbers from my dealer. How much discounting ability does this dealer have? What type of money factor should I make sure they use when calculating my lease? How much should I expect to pay will 5k down?

Best,

Landerman

CarMan@Edmunds

Hi Landerman. A base 2011 GX 460 has a spread of around $5,800 between its full MSRP and dealer invoice price. You can look up the pricing data for the exact model that you want over in the GX 460 Pricing Page here at Edmunds.com.

Lexus Financial Services' current buy rate lease money factor for the 2011 GX 460 is .00185 for consumers who qualify for its top credit tier.

I would be happy to work up a payment on the exact GX that you are interested in for you if you provide me with its full MSRP and approximate selling price, or at least its MSRP and invoice price.

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otoman

Hi,
I'm looking at a 2011 gx460 base with nav.. 58k msrp. It is new but appears to be a unwound deal because no window sticker and 350 miles on the odo.
Do you know what is a realistic discount?

Also, what is the current money factor and residuals for 12k and 15k, 36 mo.?
Thank you very much.

CarMan@Edmunds

Hi otoman. Lexus Financial Services' September buy rate lease money factor and residual value for a 36 month lease of a base 2011 GX 460 with 15,000 miles per year are .00190 and 50%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

The residual value for a lease with only 12,000 miles per year would be 2% higher.

I'm not personally all that familiar with what the market is like for this truck right now, but you might be able to get an idea by visiting the following discussion:

http://townhall-talk.edmunds.com/direct/view/.ef18bb5/1144

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otoman

Thanks Car Man. One more question...
If I wait a bit for a 2012, will the residual be higher? Seems logical to me since 3 years from now a 12 model will be worth more than an 11 model all else equal...
If so, and guess of the difference? Historically what is the difference when the new model year comes out?

Thanks very much for the info.

CarMan@Edmunds

You're welcome otoman. Yes the residual value for the 2012 model will likely be a couple of points higher when it is introduced. All things being equal, that would make a '12 cheaper to lease than an '11. Of course, all things are not necessarily equal. Dealers may be willing to discount a leftover 2011 model more than they would a new 2012.

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royiv

What is the current residual value and money factor on a base 2012 GX460? Dealer is quoting 54% and .00210%, respectively on a 3 year/15,000 mile lease. Would also be interested in knowing the numbers on a 3 year/12,000 mile lease.

Thanks.

CarMan@Edmunds

Hi royiv. Lexus Financial Services' November buy rate lease money factor and residual value for a 36-month lease of a 2012 GX 460 with 15,000 miles per year are .00160 and 54%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

The residual value for a lease with only 12,000 miles per year would be 2% higher.

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mderogers

Hi Car Man,

Do you have the Lexus Finacial Services' December buy rate lease money factor and residual value for a 36 month lease for 2012 GX 460 w/ 10,000 per year. Also, is it a better value to get a shorter lease on this vehicle?

Thanks,

Dave

CarMan@Edmunds

Hello Dave. Lexus Financial Services' December buy rate lease money factor and residual value for a 36-month lease of a base 2012 GX 460 with 10,000 miles per year are .00160 and 57%, respectively for consumers who qualify for its top credit tier.

No I don't think that a shorter lease of this truck would be a better deal.

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txmtgbnkr

Car_man,

After only owning pre-owned cars, I am looking at leasing my first car. I am looking at a GX460. My dealer has two 2011 models left on the lot and I am curious what the money factor and residuals are compared to the 2012. Of course I am thinking I can get a better deal on the 2011, but don't know if the residual and/or money factor will negate the savings.

Mileage is 12,000/year and I currently own two other Lexus. Looking forward to see what the numbers say before I go negotiate with them!

CarMan@Edmunds

Hi txmtgbnkr. I don't believe that Lexus is providing lease support on the 2011 GX 460 right now. As a result, if you were to lease one through Lexus Financial Services at this time you would have to use its standard lease money factors. Its current buy rate standard money factor is .00190 for Tier 1+ customers.

The residual value for a 36-month lease of a base '11 GX 460 with 12,000 miles per year is 48%.

There is a $1,000 dealer cash incentive on this truck right now that can be used on leases.

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txmtgbnkr

Great, thank you. Can you help me compare that to the current residual on the 2012?