Hey Avex - I saw a post from you in the prices paid thread that indicated (I think?) that you special ordered your IS350 for $449 over invoice - did I read that correctly? If so, I'd love to find out where and how you got that deal - I can't get Lexus dealers to even talk to me about special ordering below MSRP and their standard option packages just don't do it for me. If you're still hanging around these boards, would you shoot me an email at: thiswolf@gmail.com I'd love to compare notes on special ordering. Thanks!
went last night and got a quote for a 2008 is250 awd with nav, hid lights for price of 34830 which i think he said invoice was as well as a residual of 55% with a money factor of .00185. with no money down only first months payment came out to 511 with 12 k miles a yr. how does this sound compared to what everyone else is getting?
Just so you are aware Lexus financial offers tier 1 and a tier 1 plus. The difference I believe is a credit score of +/- 730.
Car_Man....Can you assist us with the January buy/lease rate from Lexus Financial for tier 1 and tier 1 plus credit applicants? This would be for 08 IS250 AWD.
Somone earlier posted .00135 but it must be a mistake. I had two different dealers in the washington dc area quote me .00175 MF and 57% residual (12,000 miles) for tier 1 plus credit applicant...
.00135 is no mistake. You might need to have Tier 1+ credit, which I believe is 720 or 730+. Also make sure they are not bumping the rate to make more. I signed a lease on earlier this week in SoCal for an '08 IS250 RWD and got the .00135 money factor and 57% residual for a 3yr/36k mi lease.
MSRP: $35,764 (auto,premium, 18" wheels, HID, Pref acc. pkg) Sell price: $31,216 + $600 assignment fee Nothing down other than drive off which was about $700
The MF they are quoting you is way to high....unless you have pretty bad credit. Tier one is .00175 and it appears tier one plus (credit score over 730) is .00135.
It's about a one percent difference but it comes out to about $25 a month difference in interest (depending on your deal figures).
Take your money factor and multiply by 2400 to get the interest percentage.
Wow! that's close to a 50% difference from what the dealer quoted me. I asked them about Tier one plus and he said 0.0024 is Tier One plus. Is 0.00135 a documented fact?
Call around to different lexus dealerships. Ask to speak to finance or sales manager and tell them to quote you the buy/lease rate from Lexus financial. I called 3 different dealerships and got .00175 . It doesn't matter what market or part of the country you are in...The tier one plus rate is what it is.
HOWEVER dealers mark it up to make more money off the deal. I haven't heard of .00135 but it seems in line at 3.24% . .00175 is 4.2% ...DO NOT let them take you higher than that!!!
Thank you very much! I will ask around. BTW - I am being quoted a sell price of $35,730 for the '08 IS 350 (with the premium package - NO NAV). MSRP - $39,875.
Hey everyone I have been reading forums for the past few months some pretty information being posted on the forums. I leased my 1st car 2008 Lexus IS250 Awd last week Jan. 8th. I shopped around a bit for the car at first I was gonna get it without the Navigation package but I said what the heck if Im going to lease something like this might as well get the Navi because it came with bluetooth and rearview camera. This is the deal I got I went to Lexus of EngleWood NJ the sales guy was really awesome to deal with and down to earth. The reason I put that much money down is I didnt want my payments to be more then 400 a month and He orginally was at 460 when he presented me the offer.
2008 Lexus IS250 Awd Navigation Premium Package HID Headlights MSRP is like 39k+ I forget the exact number and Sale price was like 35k something. 12k Miles a year I put down 3500 dollars 2k and then the 1500 for 1st months payment and fees. I ended up paying 400.00 a month including Taxes in that payment. Buyout at end of lease team is 22,800+ Tax
This is my 1st lease and I wanted to get your guys opinon on this deal. Iam happy with it because It has pretty much everything in it and it is a really sweet car. Let me know what you guys think on this one.
Lexuskid, i was in the same boat as you....I went in thinking no navigation but after driving both cars...I decided it was worth the extra 2K for the Nav and bluetooth feature....plus it looks absolutely great in the car. The Nav system is the same one in all lexuses and it's great!
Here is deal I got:
08 IS250 AWD - (Navigation, HID headlights, premium package) MSRP: 39,435 Sale Price: 35,000 Term: 36 months, 12,000 miles Residual: 57% Money Factor: .00175 6% sales tax NO MONEY down.
My drive off fees were $1400 (Acquisition, Title, Tags, 1st months payment)
I rolled the taxes ($2,100) into the monthly payment.
Hello all, I'm wondering if I can get some advice...
I currently lease an '06 BMW 325ci...I have about 5 months left in my lease and I'm about to hit my allotted miles. What I'm trying to do is avoid returning the car and having to pay all types of overage fees and disposal fees because I dont think I can afford to get a new BMW at the end of my lease. (hence none of those will be waved)
I went over to check out the Lexus IS250 (no nav) yesterday and I'm wondering if I got a good deal (I didn't get anything yet).
Here is the first deal he offered me... 490/mo, 5K total drive off (im not sure what that included but i didn't care because that was not happening). 12K/36 mos.
I finally ended up leaving with the following deal on the table.
$450/mo, 0 drive off, 12k, 36 mo.
Plus they are going to cut me a check to pay off the remaining balance on my lease which is about 2k. I thought that was a pretty good deal. One of my big reservations is that the servicing is not included with Lexus and I have friends that pay hundreds of dollars for their scheduled maintenance. The dealer said he would somehow compensate for that by discounting the car...
here are the numbers they came up with.... sale price of the car was 33,558 mf: .00175
not sure what the residual was...i believe about 61% or so
My reservations are that im not THAT crazy about the drive.. the only car they had on the lot that was no nav was silver which i didnt want. (the sales person told me if I got that deal it had to be on that exact car)
However, its a very nice car and the payments are in my price range...i feel like i would get really screwed returning my car to BMW in 6 months if i didnt take this deal. (with the mileage and the front bumper is loose and the fog light is busted from running over a muffler on the freeway)
It doesn't sound like they are taking your car in trade.. If they are cutting you a check to payoff the rest of your lease, then you still have to turn your car back into BMWFS... and will still have to pay for the bumper and fog light..
Also, it doesn't sound like you really like the car.. If you are trying to save money, you can lease an Acura TSX for well under $400/mo..
Yea...i looked at both of those and i liked the IS more than the TSX...the only other thing i liked more than that IS was the 328 coupe with was out of my price range...Yea I realized that today (that they weren't taking in the vehicle in as a trade) so I'm wondering if you think they would consider doing that.
Given the deal I outlined above, do you think that is a pretty reasonable deal to go through with??
Seattle area dealer is quoting loaded IS250 MSRP 34085 plus 6170 in options, 36 months 30000 miles; 8.9% tax, 7000 down, residual of 24201. Have never leased before. What do you say? Deal or No Deal?
Any thoughts on the lease terms I received from the dealer? From what I saw on earlier posts, the MF of 0.0024 looks high. Is the 36mo/12K RV 55% correct? Thanks.
Hi avex. Lexus Financial Services' January buy rate lease money factor and residual value for a 36 month lease of a 2008 Lexus IS 350 with 15,000 miles per year are .00210 and 53%, respectively for consumers who qualify for its Tier 1+ credit tier.
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Greetings to the_bull. According to the latest information that I have seen, Lexus Financial Services' buy rate lease money factor and residual value for a 36 month lease of a 2008 Lexus IS 250 AWD with 12,000 miles per year are .00140 and 57%, respectively for consumers who qualify for its Tier 1+ credit tier.
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Hi gardner5236. The last time that I checked, I believe that consumers needed to have a score of 730 or above to qualify for Lexus Financial Services' Tier 1+ credit tier.
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Hi coby03. The money factor that you were quoted for this car looks a little high to me. According to the latest information that I have seen, Lexus Financial Services' current buy rate lease money factor for a 36 month lease of a 2008 Lexus IS 350 is only .00210 for consumers who qualify for its Tier 1+ credit tier. Make sure that the dealer you are working with uses this factor to calculate your monthly payment.
As far as the selling price that you were quoted goes, the IS 350 that you are interested in probably has a spread of just under $5,000 between its full MSRP and its dealer invoice price. You were quoted a discount of just under $2,900. That puts you at a little over $2,000 over invoice. That's enough room that it wouldn't hurt to comparison shop with another Lexus dealer or two in your area. I'm not saying that you will definitely be able to beat this price, but it is worth a shot. Also, make sure to stop by the "Lexus IS 250 / IS 350 Prices Paid and Buying Experience" discussion to see how much other community members have paid for similar cars lately.
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Greetings bubbatree. Since you are new to leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.
The first thing that I noticed about the deal that you were quoted is the massive down payment. It is definitely not a good idea to put $7,000 down on a lease. Consumers who make large down payments on leased vehicles risk losing part or all of their money if their vehicle is totaled in an accident or stolen and never recovered. Even though it means that your monthly payment will be higher, you would be much better off going with a zero down lease.
I am sure that myself or some of the other community members who frequent this discussion would be happy to give you an opinion on this deal, but your post is missing some important information. The most important is obviously this car's monthly payment. Also important is its selling price. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without this car's selling price, it is difficult to tell how good a deal you are getting.
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Hey Ken. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2008 Lexus IS 350 with 12,000 miles per year are .00210 and 55%, respectively for consumers who qualify for its Tier 1+ credit tier.
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Hi usc1. When you said in your post that this car's invoice is just under $39,000, I assume that you meant that was its MSRP. This car has a spread of right around $5,000 between its full MSRP and its dealer invoice price. The $3,686 discount that you were quoted is probably around $1,300 or so over invoice. This isn't bad, but you are in the ultra-competitive California market so it probably wouldn't hurt to shop around to see if you can beat this offer by a couple hundred dollars. Make sure to stop by the "Lexus IS 250 / IS 350 Prices Paid and Buying Experience" discussion to see how much other community members have paid for similar cars lately.
Once you have arrived at a selling price that you are comfortable with, have the dealer calculate your car's monthly payment using its buy rate lease money factor. Lexus Financial Services' current buy rate for a 36 month lease of a 2008 Lexus IS 250 2WD is .00135 for consumers who qualify for its top credit tier.
One aspect of this deal that troubles me is the large down payment. I always advise consumers not to make large down payments 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. Even though it means that your monthly payment will be higher, you would be better off going with a zero down lease.
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Sorry about the missing info! The selling price should be $39500, and I want to keep my total payment under $500. Dealer says it's $485, including tax. Thanks for any insight!
I am in Boston and looking to lease an IS 250 AWD with Premium Package. I have been quoted the following MSRP $35,800 Cap cost of $33,142 ($1617 over invoice i think) 3 yr/12K Residual is .57 and they are giving me a MF of .00175 2 questions - What should i be expecting for a cap cost (how much over invoice?)
And secondly, i read here that the Tier 1 Plus for this model is .00145 . When i try negotiating the MF down to that, they ask me where i heard the number of .00145. When i tell them the Edmunds forum, they say that ity is not correct. How can i prove to them it is the actual LFS rate? Can i negotiate something between .00145 and .00175?
$399 Monthly Payment 36 Month Term $2500 Down Payment NA Security Deposit 12000 Annual Mileage Restrictions Lease is based on the 2008 IS250 AWD equipped with optoins HW, LD, NV, PA, PT and Z1.
Using Edmund's pricing, I get an MSRP of $41155 (invoice 35,919). Assuming a RV of 0.57 and a MF of 0.00175, this results in a discount of around $4460 off of MSRP.
This seems like a pretty big discount. I have to wonder if the MF is lower this month.
I noticed that offer, as well as the 2008 IS RWD with the same options (HW, LD, NV, PA, PT and Z1) for $369 a month, $2500 down, 12k miles, etc. Does this seem like a good or bad deal, and if it is a good deal, does that mean a new version of the IS 250 is ready to be shipped?
I am about to lease a new IS250 in Los Angeles. The lease special listed here at Edmunds says the deal is this: RWD, 6A, with FT, HL, NV, PT, and Z1. The numbers are $2500 down, 36 months, 12,000 a year, at $369 per month. I think this is a good deal but my question is what exact options are included? I do not see a premium package listed, yet Nav is. Seems like an odd combo. Also rare and hard to believe a bread and butter lease would include a Nav. Most leases in this class never include that. Can anyone confirm what is included in this lease? Also, what is HL and PT? I don't see those codes listed at Edmunds when you build a car. THANK YOU!
Looking for some assistance here. I just received a quote on an '08 IS 250 AWD w/Nav. I'm looking at a 36 mo. w/15k year. 1st dealer indicated my residual is going to be 55% because of the 15k miles. Can anyone confirm this is correct? I can't seem to find the Lexus buy rates for February. Here are the numbers:
39k MSRP 36,200 Cap Cost .00175 55% $548/mo w/taxes
Fees (out of pocket): $548 1st mo $105 docs $300 registration $600 bank fee Total: $1030
I don't think the Cap cost is a bad deal (about $3100 disc) but, the 55% is bothering me. I'm in the NY/NJ area.
Comments
thiswolf@gmail.com
I'd love to compare notes on special ordering. Thanks!
Tier 1 plus for Lexus Financial:
.00135 MF
57% residual
12,000 mile 36 mo. lease? I'm in the Washington DC area.
Thanks!
price of 34830 which i think he said invoice was as well as a residual of 55% with a money factor of .00185. with no money down only first months payment came out to 511 with 12 k miles a yr. how does this sound compared to what everyone else is getting?
Yes, 55% residual is correct for 15,000 miles/yr. 57% for 12,000 miles.
Can anyone else confirm current buy/lease rate for tier one plus credit applicant on '08 IS250 AWD?
Car_Man....Can you assist us with the January buy/lease rate from Lexus Financial for tier 1 and tier 1 plus credit applicants? This would be for 08 IS250 AWD.
Thanks!
Does this sound like good deal?
08 IS250 AWD w/ $1,871 package (HID, AFS, wheel locks, trunk mat, wood trim)--NO Nav
MSRP: 36,821
Sale Price: 33,150
MF .00175
Residual 57% (12,000) miles
Lease term: 36 months
0 down payment and rolled taxes (6%) into monthly payment.
$489/mo plus drive off fees of approx. $1000 (acquisition, title, registration)
Does this sound like a deal???
1. MSRP = $39,875
2. Sell Price = $36,750
3. Residual Value = $22,333
4. Term = 36 months
5. Money factor = 0.00245
6. Monthly payment = $578
7. Initial payment = $705 (includes the first month's payment)
Are these OK? I live in the Dallas area and wanted to know if anyone's seen better rates here.
Thanks for the help.
MSRP: $35,764 (auto,premium, 18" wheels, HID, Pref acc. pkg)
Sell price: $31,216 + $600 assignment fee
Nothing down other than drive off which was about $700
It's about a one percent difference but it comes out to about $25 a month difference in interest (depending on your deal figures).
Take your money factor and multiply by 2400 to get the interest percentage.
HOWEVER dealers mark it up to make more money off the deal. I haven't heard of .00135 but it seems in line at 3.24% . .00175 is 4.2% ...DO NOT let them take you higher than that!!!
I hope this is a good deal.
2008 Lexus IS250 Awd
Navigation
Premium Package
HID Headlights
MSRP is like 39k+ I forget the exact number and Sale price was like 35k something.
12k Miles a year
I put down 3500 dollars 2k and then the 1500 for 1st months payment and fees.
I ended up paying 400.00 a month including Taxes in that payment.
Buyout at end of lease team is 22,800+ Tax
This is my 1st lease and I wanted to get your guys opinon on this deal. Iam happy with it because It has pretty much everything in it and it is a really sweet car. Let me know what you guys think on this one.
Here is deal I got:
08 IS250 AWD - (Navigation, HID headlights, premium package)
MSRP: 39,435
Sale Price: 35,000
Term: 36 months, 12,000 miles
Residual: 57%
Money Factor: .00175
6% sales tax
NO MONEY down.
My drive off fees were $1400 (Acquisition, Title, Tags, 1st months payment)
I rolled the taxes ($2,100) into the monthly payment.
Montly payment is $512
MSRP $39654
Cap Cost $36760
Term 3 year/ 12K per year
MF 0.0024
Residual 55%
Monthly Payment (excl tax) $555
I'm in Ohio. Looks high to me based on what I've seen on the board so far. Marking up the MF? Comments?
I currently lease an '06 BMW 325ci...I have about 5 months left in my lease and I'm about to hit my allotted miles. What I'm trying to do is avoid returning the car and having to pay all types of overage fees and disposal fees because I dont think I can afford to get a new BMW at the end of my lease. (hence none of those will be waved)
I went over to check out the Lexus IS250 (no nav) yesterday and I'm wondering if I got a good deal (I didn't get anything yet).
Here is the first deal he offered me...
490/mo, 5K total drive off (im not sure what that included but i didn't care because that was not happening). 12K/36 mos.
I finally ended up leaving with the following deal on the table.
$450/mo, 0 drive off, 12k, 36 mo.
Plus they are going to cut me a check to pay off the remaining balance on my lease which is about 2k. I thought that was a pretty good deal. One of my big reservations is that the servicing is not included with Lexus and I have friends that pay hundreds of dollars for their scheduled maintenance. The dealer said he would somehow compensate for that by discounting the car...
here are the numbers they came up with....
sale price of the car was 33,558
mf: .00175
not sure what the residual was...i believe about 61% or so
My reservations are that im not THAT crazy about the drive.. the only car they had on the lot that was no nav was silver which i didnt want. (the sales person told me if I got that deal it had to be on that exact car)
However, its a very nice car and the payments are in my price range...i feel like i would get really screwed returning my car to BMW in 6 months if i didnt take this deal. (with the mileage and the front bumper is loose and the fog light is busted from running over a muffler on the freeway)
What do you think??
Thanks to anyone with any advice to lend...
It doesn't sound like they are taking your car in trade.. If they are cutting you a check to payoff the rest of your lease, then you still have to turn your car back into BMWFS... and will still have to pay for the bumper and fog light..
Also, it doesn't sound like you really like the car.. If you are trying to save money, you can lease an Acura TSX for well under $400/mo..
Good luck!
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Given the deal I outlined above, do you think that is a pretty reasonable deal to go through with??
Thanks..
Any thoughts on the lease terms I received from the dealer? From what I saw on earlier posts, the MF of 0.0024 looks high. Is the 36mo/12K RV 55% correct? Thanks.
Ken
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In immediate market for a lease on a black on black 250 IS w/navig.+ Bluetooth
Santa Monica Lexus gave these terms;
invoice just under $39,000--which they would discount to $35,314
3 year lease 12,000/yr
$5000 down + another $1000 for drive off fees--total $6k
Monthly $396.07 including tax
Residual $21,838
Any thoughts,
time is of the essence
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As far as the selling price that you were quoted goes, the IS 350 that you are interested in probably has a spread of just under $5,000 between its full MSRP and its dealer invoice price. You were quoted a discount of just under $2,900. That puts you at a little over $2,000 over invoice. That's enough room that it wouldn't hurt to comparison shop with another Lexus dealer or two in your area. I'm not saying that you will definitely be able to beat this price, but it is worth a shot. Also, make sure to stop by the "Lexus IS 250 / IS 350 Prices Paid and Buying Experience" discussion to see how much other community members have paid for similar cars lately.
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The first thing that I noticed about the deal that you were quoted is the massive down payment. It is definitely not a good idea to put $7,000 down on a lease. Consumers who make large down payments on leased vehicles risk losing part or all of their money if their vehicle is totaled in an accident or stolen and never recovered. Even though it means that your monthly payment will be higher, you would be much better off going with a zero down lease.
I am sure that myself or some of the other community members who frequent this discussion would be happy to give you an opinion on this deal, but your post is missing some important information. The most important is obviously this car's monthly payment. Also important is its selling price. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without this car's selling price, it is difficult to tell how good a deal you are getting.
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Once you have arrived at a selling price that you are comfortable with, have the dealer calculate your car's monthly payment using its buy rate lease money factor. Lexus Financial Services' current buy rate for a 36 month lease of a 2008 Lexus IS 250 2WD is .00135 for consumers who qualify for its top credit tier.
One aspect of this deal that troubles me is the large down payment. I always advise consumers not to make large down payments 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. Even though it means that your monthly payment will be higher, you would be better off going with a zero down lease.
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IS 250 RWD
Premium Plus (18" wheels)
Nav with audio system
HID Headlamps
.00135 MF
$34,597 sale price plus tax
57% residual value
36month/12k mile per year lease
thanks for any input!
Somewhat unexpected--my beat deal was found--Mike Skobin at Jim Falk Beverly Hills Lexus
2008 Blk/blk IS250 w/navigation AND "X" pkg
Able to get a true 0 down and 0 out the door--tier 1 credit
3yr 12k miles/yr lease
$487 month total including tax!!!!!!!!!
Had tried most other dealers in LA county--was a headache but got the deal we wanted
Mike was fantastic--we cut to the chase and even was able to have the non "X" pkg IS 250 available the next day if I wanted it!
Interestingly the Navigation IS 250 without x pkg had virtually same monthly as the x pkg w/navgation
Also recommend little or nothing down--if not get cap insurance
Good luck
Thanks.
I have been quoted the following
MSRP $35,800
Cap cost of $33,142 ($1617 over invoice i think)
3 yr/12K
Residual is .57
and they are giving me a MF of .00175
2 questions - What should i be expecting for a cap cost (how much over invoice?)
And secondly, i read here that the Tier 1 Plus for this model is .00145 . When i try negotiating the MF down to that, they ask me where i heard the number of .00145. When i tell them the Edmunds forum, they say that ity is not correct. How can i prove to them it is the actual LFS rate? Can i negotiate something between .00145 and .00175?
36 Month Term
$2500 Down Payment
NA Security Deposit
12000 Annual Mileage
Restrictions Lease is based on the 2008 IS250 AWD equipped with optoins HW, LD, NV, PA, PT and Z1.
Using Edmund's pricing, I get an MSRP of $41155 (invoice 35,919).
Assuming a RV of 0.57 and a MF of 0.00175, this results in a discount of around $4460 off of MSRP.
This seems like a pretty big discount. I have to wonder if the MF is lower this month.
39k MSRP
36,200 Cap Cost
.00175
55%
$548/mo w/taxes
Fees (out of pocket):
$548 1st mo
$105 docs
$300 registration
$600 bank fee
Total: $1030
I don't think the Cap cost is a bad deal (about $3100 disc) but, the 55% is bothering me. I'm in the NY/NJ area.
Thanks.
Amy