Dealer #2 just indicated that they are having a Presidents Day lease sale on the IS 250. She said a 2yr/15k lease would have a residual of 61% and a money factor of .00050 (1.2%).
So far I've spoken to Lexus of Edison, Warnock (Livingston) and Lexus of Lawrence. Edison has given me the best numbers so far (Dealer #2 on my email above). Lawrence wouldn't give me exact number over the phone but, it sounded like I could get a good deal from them too (just really don't want to haggle at the dealership).
Yeah- I got that too. The MF is actually .0002 which translates to 0.48%. But only on the 2 year lease. I really prefer a 3 year lease. Wish they would extend it!
My fiance just inked a deal on a IS250AWD - no nav or options. Sticker was 35,096.
Its a 36month 10K/yr lease at $450/mo with $3500 down. The tricky part here is that her current lease on her Maxima isnt up for 7 months. So Lexus agreed to pay the $392/mo for the next 7 months. So essentially my down payment at Lexus is the difference, or around $700.
I am not that great with the lease calculations and considering that we are ending the other lease early -- is this a decent deal??
The invoice says the cap cost reduction was 2034. I believe the residual was 58%. I dont know what the MF was but I know she was Tier 1 as her credit came back over 730.
Can anyone PLEASE help me out a little, I can still back out of this thing if it doesnt make sense.
johnnj1 - What is the reason for terminating the Maxima lease? If you must have the IS250, I would recommend keeping the Maxima because you are essentially making the payments (negative equity is being applied to monthly payment and costs due at signing) and receiving no benefit. Please correct me if I am wrong. Also, Prestige Lexus is a very good dealer with an incredible showroom.
my fiance is really unhappy with the maxima - and well basically we are being impatient.
i know the best option is to wait out the maxima lease before signing a new lease - but i am just trying to figure out if by doing this deal, if we are getting some type of benefit from prestige - meaning i was expecting to pay close to that on a brand new lease without the maxima in the picture, so for 3500down and 450/mo (the terms of the new lease), how far off is that from what i would normally have to pay - i figured it would be (without the maxima) 3000down and around 430-440/mo - so if that is about 500 plus 10x36=360 more in total, its worth it to me to get her out of that car early - but if I am way off and we could be getting the is250 for much much less, well then I am obviously making a wrong move.
so i guess i am just tryin to figure out what the is250 should really cost without the maxima involved. any input is appreciated.
Has anyone got this special lease from CA dealers? If Yes, what is the Residual Value and Money Factor.
Start: 02/01/2008 End: 03/31/2008 $369 Monthly Payment Calculate Other Monthly Payments $369 36 Month Term $2500 Down Payment NA Security Deposit 12000 Annual Mileage Restrictions Lease is based on the 2008 IS250 RWD equipped with optoins FT, HL, NV, PT and Z1. See your local dealer for details.
It seems the Nav is part of the California deal. What can be done w/o the Nav? How much lower would a montly payment drop by eliminating a $2000 option? Same question for the miles... how much does a monthly payment drop when you go to 10k per year? I need my monthly payment very low. Can anyone help? I am getting ready to send emails out to dealerships. Thanks.
Thanks for your reply. At $495 it doesnt sound like a good deal to me.
CARMAN: Can you confirm if you have seen $369 deal being honored by dealers in SoCal. Or if you have seen any better deals. I dont understand why Lexus dealers never advertise their special leases on the website.
Looking for some assistance here. I just received a quote on an '08 IS 250 AWD w/Nav + Premium Package + Luxuary Package, Fully Loaded. I'm looking at a 36 mo. w/12k year. What do you guys think? Good deal, should I go elsewhere, or should I haggle for more??
Edmunds MSRP $40,555 $489/mo w/ out taxes
Fees (out of pocket): Including NYS (8.35% tax) and 1st months payment Plus all the other fees that he sipped by me
Total: $2780
I don't think its a bad deal, but I don't understand why the out of pocket fees are so high? I'm in the NY/NJ area. Any help appreciated.
Here at the South Atlanta Lexus Dealership I was told that they're being very agressive on their deals today since it's month end. There's a IS 250 on the show room floor (no navigation) at $349 per month with $2500 down. I don't know any other details. I was also told that they're trying to move at least 20 vehicles tonight!
I have been shopping for an IS250 RW (Without Nav) for over two weeks. After speaking with almost 10 dealers in and around LA, I found the right price $30,700 and color of my choice at a dealer. But just when we are signing the deal he ran my credit report and it turned out that I was Tier3 with 660 Score and all this while I had been using online credit monitoring websites which showed my score as 740. First, I thought this was one of the dealer tricks, but there was no reason as my salesman was really good and upfront (very rare experience). So he showed me the printout of my credit report with all correct information and 660 score.
I thought I had done my homework, but apparently not. I came back home and did some further research and found out that most of the credit score monitoring websites including the one owned by TransUnion and Equifax (freecreditreport.com truecredit.com, etc) give you SIMULATED scores, these are not your actual scores. Yeah, that was somewhere in the fineprint of the agreement.
Anyways, lesson learnt, if you want to check your real score go to MYFICO, they are the most commonly used credit score. And while I was researching, I found out another fact that car dealers use something known as Car FICO score, basically its based on your car history. So be aware of this score when you are speaking with your car dealer. Most of the people with a car history have a good Car FICO score, even though your overall score might be average, your Car FICO might be excellent.
So with the special promotion for Tier3 I am getting a Money Factor of .00115 (2.8%) as against .0002 (0.5%) for Tier1. And not to forget that I am a first time car buyer/leaser. So please tell me if this is a good MF for Tier3 (660 score).
Below are the deal specifics, please tell me if this sounds like a good deal! I would have done this deal without a doubt if they had approved me for Tier1, but with the Tier3, my payments have increased by $50 a month, which equates to $1,200 over the course of the lease. I personally think its still a good deal, but wanted to get your opinion before I go ahead:
MSRP - $35,760 Selling Price - 30,700 ($1,000 under Invoice) Cap Cost - $31,300 (including $600 Acquisition Fee) MF - 0.00115 (2.8% for Tier3) Credit Score - 660 (As per FICO) Lease Term - 24 Months Mileage - 12,000 (Per Year) Residual - $22,531 (63%) Monthly Payment - $463 ($427 + $35) 8.25% LA Sales Tax
Just got my RW w/o NAV. Thanks to this forum I was well informed and prepared during my leasing process. I tried to get quotes from over 10 dealers in LA area, most of them quoted around $31,000. However, I got the best quote from Newport Beach at $30,700. Most importantly, the salesman was a great person, nothing slimy like all other salesmen I met during this process. We agreed on the price over the phone and he honored it. Although, as mentioned before the Money Factor changed because my Credit Score was lower than what I had thought. But besides that it was a smooth process, I was in and out of the dealership in 2 hours. If anyone is looking for an IS250 in LA area, I will highly recommend Newport Beach. Feel free to email me and I will be happy to give you the salesman's reference and he will honor the same rate for you. Obviously, your MF will depend on your Credit Score, but I doubt if you will be able to get a better Selling Price than $30,700.
I thought I would share my deal that took place on Feb 27th in Miami FL.
Lexus IS 250 RWD Base Model w / Manual Transmission Credit Score 660 Equifax /was already a Lexus customer with perfect payment history. Months: 36 Miles: 15K Cash out of Pocket: $1500.00 / which Included first months payment Monthly Payment: $400.00 per month includes FL sales tax.
If you are based in CA, you should go for the 24 months lease, you will qualify for .0002 MF (0.48%). If you are not in a hurry, you should wait for some time and see if the special MF becomes national.
I got the exact same model for 24 months with a SP of $30,700.
Congrats on you purchase!! You did your homework and got a great deal...I'm interested in the same and would like to get the name of your salesman at Newport Beach. Also, how much out of pocket money was required for your deal? I'm interested in $0 down...Can you share any deal discussions regarding the zero down options.
So looks like there are two special leases thru 3/31/08 1. 24 month 0.0002 MF valid today for CA 2. Start: 02/01/2008 End: 03/31/2008 $369 Monthly Payment Calculate Other Monthly Payments $369 36 Month Term $2500 Down Payment NA Security Deposit 12000 Annual Mileage Restrictions Lease is based on the 2008 IS250 RWD equipped with optoins FT, HL, NV, PT and Z1. See your local dealer for details.
Is the latter what you meant by "see if the special lease becomes national" ?
Hi mingb. I see that you are interested in a 3 year lease. You actually might want to consider leasing this car for 2 years. In mid-February, Lexus significantly enhanced its 24 month lease money factor in many areas to an attractive .00020. That's much lower than its 3 year factor of .00175.
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Hi bceagles88. The .00175 money factor that you mentioned is actually correct, for a 36 month lease of a 2008 IS 250 AWD through Lexus Financial Services right now. You actually may want to consider switching your lease to a 24 month term though. In mid-February, Lexus enhanced its money factor for that term to an extremely attractive .00020.
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Hi Amy. 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 IS 250 AWD with 15,000 miles per year are .00175 and 55%, respectively for consumers who qualify for its top credit tier. You may want to consider leasing this car for 24 months though. In mid-Feb. LFS enhanced its buy rate for 2 year leases of this car to an extremely attractive .00020. That's probably the way that I would go if I was in the market for one right now.
Let's look at the selling price that you were quoted. The IS 250 that you are interested in probably has a spread of over $4,700 between its full MSRP and its dealer invoice price. The $3,000 discount that you were quoted isn't bad, but if you are in an area that has a decent level of competition I would not be surprised if you were able to do better. You may want to comparison shop with a few other dealers to see if you can beat this deal.
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Hey bceagles88. What you were told is correct. LFS' 36 month buy rate lease money factor for this car is .00175. However, Lexus recently enhanced its buy rate for 24 month leases of it to .00020. That's the route that I would go if I was in the market for an IS 250 right now.
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Does anyone have any information on the special lease rates for the IS 250 AWD in Iowa? I have seen the posts for the MF of .00020 for 24mths and also at .00175, but they do not apear to be available here.
I emailed all dealers in the LA, OC, and SB Counties and it came down to Westminster for price and rare color. Thought I got a great deal and the treatment was fantastic. Didn't want the 24 month deal as it didn't give me enough time with the car. The rates were already in effect on Feb. 28. Here's what I got: IS250 RWD 6A Premium Pack ($1290) Xenons ($875) 18" wheels ($830) Mat, net, and locks ($197) Total: $35,582 Selling price $30,908 Was $681 under invoice Total down OTD $3500 (-$750 Taste of Lexus Certificate still coming) OTD monthly payment $320 10k miles/year 36 months. Love the car so far!
Hi bpuleio. Lexus Financial Services' acquisition fee is $600. Any other fee that the dealer charges you on top of that is likely some sort of doc fee, which essentially is nothing more than a way for dealers to pad their profit on deals. There's nothing wrong with paying a doc fee, just make sure to look at it as part of your car's total selling price. If the price that you are paying for this car, including the doc fee, is less than or comparable to what you would have to pay for it at a different dealer it doesn't really matter how the price breaks down. However, if the doc fee makes your car's selling price higher than you would like, ask for a larger discount or shop around a little.
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Hi Rob. You never mentioned the selling price of the car that you are interested in leasing. This is an important number 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 the price of the car that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of the vehicle that they want to lease is that it is necessary 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 its selling price is.
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Hi bpuleio. Lexus Financial Services is still providing the extremely attractive .00020 24 month lease money factor on the 2008 IS 250 in March. In the areas that I have seen its new lease program for, its buy rate for 36 month leases of this car is now .00175 for consumers who qualify for its top credit tier.
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Hi robd2. Here's the information that you're looking for. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2008 IS 250 AWD with 15,000 miles per year are .00175 and 55%, respectively for consumers who qualify for its top credit tier. The residual value that you were quoted is way off. You may want to consider going with a 24 month lease on this car. In mid-February Lexus introduced a special .00020 money factor on 2 year leases of the IS 250. That's the way I would go if I was in the market for this car. I believe that LFS' Tier 1 money factors are slightly higher than its Tier 1+ factors.
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Greetings Tom. Congratulations on getting your new IS 250. Thanks for taking the time to share the details of your deal with everyone. Make sure to stop by the new Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience as well. Enjoy your new ride :shades: .
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Boe747lcf, the special 24 month .00020 money factor is only available on '08 IS 250 2WD and AWD models. The IS 350's 24 to 36 month money factors are .00175 for consumers who qualify for LFS' top credit tier.
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Hi again boe747lcf. Lexus Financial Services' current buy rate lease money factor and residual value for a 24 month lease of a 2008 IS 350 with 12,000 miles per year are .00175 and 61%, respectively. I'm not sure if LFS offers leases with only 10,000 miles per year. If it does, its 10k residual values are probably 1% higher than its 12k resids.
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Hi Car_man ... not in the market yet, as the lease on my Infiniti M35x isn't up until July, but I still check these discussions almost daily!
I keep seeing numerous posts about this incredible MF on the IS250AWD, and it is great at .00020 for 24 months, but what I'm NOT seeing is the RESIDUAL that goes along with it! There were probably about 10 posts about the MF, but I can't calculate a lease payment on it without a proper residual! I'm looking to possibly get one of these soon for the wife and would be looking at 24 months/12k miles. Also - is the offer even available in PA?
Comments
IS250 AWD w/NAV
39,335
35,830
61%
.0002 (1.2%)
$512/mo - includes tax
$1030 in fees and $1k down ($2030 out the door)
Thoughts?
$ 349 doc fee
578 dmv fee
600 Lexus acquisition
50 acquisition tax
468 1st mo. pymt.
2,045 TOTAL
No cap reduction. Are these fees high?
Thanks.
My fiance just inked a deal on a IS250AWD - no nav or options. Sticker was 35,096.
Its a 36month 10K/yr lease at $450/mo with $3500 down. The tricky part here is that her current lease on her Maxima isnt up for 7 months. So Lexus agreed to pay the $392/mo for the next 7 months. So essentially my down payment at Lexus is the difference, or around $700.
I am not that great with the lease calculations and considering that we are ending the other lease early -- is this a decent deal??
The invoice says the cap cost reduction was 2034. I believe the residual was 58%. I dont know what the MF was but I know she was Tier 1 as her credit came back over 730.
Can anyone PLEASE help me out a little, I can still back out of this thing if it doesnt make sense.
my fiance is really unhappy with the maxima - and well basically we are being impatient.
i know the best option is to wait out the maxima lease before signing a new lease - but i am just trying to figure out if by doing this deal, if we are getting some type of benefit from prestige - meaning i was expecting to pay close to that on a brand new lease without the maxima in the picture, so for 3500down and 450/mo (the terms of the new lease), how far off is that from what i would normally have to pay - i figured it would be (without the maxima) 3000down and around 430-440/mo - so if that is about 500 plus 10x36=360 more in total, its worth it to me to get her out of that car early - but if I am way off and we could be getting the is250 for much much less, well then I am obviously making a wrong move.
so i guess i am just tryin to figure out what the is250 should really cost without the maxima involved. any input is appreciated.
Start: 02/01/2008 End: 03/31/2008 $369 Monthly Payment Calculate Other Monthly Payments $369
36 Month Term
$2500 Down Payment
NA Security Deposit
12000 Annual Mileage
Restrictions Lease is based on the 2008 IS250 RWD equipped with optoins FT, HL, NV, PT and Z1. See your local dealer for details.
Thanks
2008 IS250 with Premium package and Navigation
MSRP: $38,314
Selling Price: $34,277
36 month term
15,000 annual miles
MF: .00135
Cap cost: $34,992 (includes $45 doc fee and $600 acquisition fee)
Residual: 55% = $21,072.70
Minimum drive off: $819.71
Monthly Payment: $495.96
CARMAN:
Can you confirm if you have seen $369 deal being honored by dealers in SoCal. Or if you have seen any better deals. I dont understand why Lexus dealers never advertise their special leases on the website.
Thanks!
Any idea what my target money factor shoud be?
Thanks!
Edmunds MSRP $40,555
$489/mo w/ out taxes
Fees (out of pocket):
Including NYS (8.35% tax)
and 1st months payment
Plus all the other fees that he sipped by me
Total: $2780
I don't think its a bad deal, but I don't understand why the out of pocket fees are so high? I'm in the NY/NJ area.
Any help appreciated.
Thanks.
Rob
I thought I had done my homework, but apparently not. I came back home and did some further research and found out that most of the credit score monitoring websites including the one owned by TransUnion and Equifax (freecreditreport.com truecredit.com, etc) give you SIMULATED scores, these are not your actual scores. Yeah, that was somewhere in the fineprint of the agreement.
Anyways, lesson learnt, if you want to check your real score go to MYFICO, they are the most commonly used credit score. And while I was researching, I found out another fact that car dealers use something known as Car FICO score, basically its based on your car history. So be aware of this score when you are speaking with your car dealer. Most of the people with a car history have a good Car FICO score, even though your overall score might be average, your Car FICO might be excellent.
So with the special promotion for Tier3 I am getting a Money Factor of .00115 (2.8%) as against .0002 (0.5%) for Tier1. And not to forget that I am a first time car buyer/leaser. So please tell me if this is a good MF for Tier3 (660 score).
Below are the deal specifics, please tell me if this sounds like a good deal! I would have done this deal without a doubt if they had approved me for Tier1, but with the Tier3, my payments have increased by $50 a month, which equates to $1,200 over the course of the lease. I personally think its still a good deal, but wanted to get your opinion before I go ahead:
MSRP - $35,760
Selling Price - 30,700 ($1,000 under Invoice)
Cap Cost - $31,300 (including $600 Acquisition Fee)
MF - 0.00115 (2.8% for Tier3)
Credit Score - 660 (As per FICO)
Lease Term - 24 Months
Mileage - 12,000 (Per Year)
Residual - $22,531 (63%)
Monthly Payment - $463 ($427 + $35) 8.25% LA Sales Tax
THANKS!
Thank you and all the best in your search!
Anybody know what the MF and RV of an IS250 AWD 36 month lease for the month of March??
The dealer I spoke with Lexus of SmithTown Long Island, told me the MF is .00185
and the RV is .70 (70%) Sounds suspicious?
btw I'm lookn at 36 month leases not the 24 months
in the NYC area. Can anybody confirm??
I thought MF and RV were national deals from Lexus Financial?? Would it matter from Tier 1 , vs. Tier 1 +??
Thanks
Lexus IS 250 RWD Base Model w / Manual Transmission
Credit Score 660 Equifax /was already a Lexus customer with perfect payment history.
Months: 36
Miles: 15K
Cash out of Pocket: $1500.00 / which Included first months payment
Monthly Payment: $400.00 per month includes FL sales tax.
Tom
Miami FL,
IS250 RWD Premium Package, HID, Preferred Package, 18" wheels. No NAV
Price $31,000
Term 36 Months
MF 0.00185
15K miles/year
Cash Down $785
Acquisition Cost $600
License $320
Payment $462 per month
My credit is 720+, spouses is 760; either one of us can purchase.
What should I expect as the MF ?
thx,
Netnut
Netnut
If you are based in CA, you should go for the 24 months lease, you will qualify for .0002 MF (0.48%). If you are not in a hurry, you should wait for some time and see if the special MF becomes national.
I got the exact same model for 24 months with a SP of $30,700.
Hope this helps!
Thanks for your help.
OCcarbuff
So looks like there are two special leases thru 3/31/08
1. 24 month 0.0002 MF valid today for CA
2. Start: 02/01/2008 End: 03/31/2008 $369 Monthly Payment Calculate Other Monthly Payments $369
36 Month Term
$2500 Down Payment
NA Security Deposit
12000 Annual Mileage
Restrictions Lease is based on the 2008 IS250 RWD equipped with optoins FT, HL, NV, PT and Z1. See your local dealer for details.
Is the latter what you meant by "see if the special lease becomes national" ?
thx,
Netnut
can you please provide the MF and residual for a 10k/yr, 24 month lease for a IS350?
Thanks!
Car_man
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Let's look at the selling price that you were quoted. The IS 250 that you are interested in probably has a spread of over $4,700 between its full MSRP and its dealer invoice price. The $3,000 discount that you were quoted isn't bad, but if you are in an area that has a decent level of competition I would not be surprised if you were able to do better. You may want to comparison shop with a few other dealers to see if you can beat this deal.
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Didn't want the 24 month deal as it didn't give me enough time with the car.
The rates were already in effect on Feb. 28.
Here's what I got:
IS250 RWD 6A
Premium Pack ($1290)
Xenons ($875)
18" wheels ($830)
Mat, net, and locks ($197)
Total: $35,582
Selling price $30,908
Was $681 under invoice
Total down OTD $3500 (-$750 Taste of Lexus Certificate still coming)
OTD monthly payment $320
10k miles/year
36 months.
Love the car so far!
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I keep seeing numerous posts about this incredible MF on the IS250AWD, and it is great at .00020 for 24 months, but what I'm NOT seeing is the RESIDUAL that goes along with it! There were probably about 10 posts about the MF, but I can't calculate a lease payment on it without a proper residual! I'm looking to possibly get one of these soon for the wife and would be looking at 24 months/12k miles. Also - is the offer even available in PA?
Thanks Car_man!