2013 and earlier Lexus IS 250 / IS 350 Lease Questions

mrtrance

My deal for a 07 IS250 with Premium/NAV/XM was the following:

MSRP: 38,377
Invoice: 33,854
My price: $32,554(this is after a $500 coupon discount, otherwise the price was 33,054)
Drive off: $1900
36mo/12K
$410/mo with tax

tbags1

Hey all - i was looking at an IS 250 AWD with premium package and was offered a price that i thought was high.

MSRP 35300
Sale price 33000
39 month/ 15K miles
$2500 down
$458 per month

Seemed high. I was looking for suggestions/advice as to what price range i should be looking for.

Does a one-pay lease make a big difference?

Thanks for any help!

gwoulfe

Fourizonly007, So that $410 includes the tax? And that $1900 includes first month? Where is this?

Thanks bud

drgolf

fourizonly007,

where is your deal?

do you know the money factor and residual, and what all is in the $2,500 drive off?

also, is the your price the cap cost?

gaganw18

I am out to buy a new IS 250 in Sacramento area. I dont mind travelling to Southern Calif or Bay Area for a better deal. I dont understand the residuals and the lease options but if I financed a new IS250 w/ $5k down & good crdt, what price can I be looking at?

Is it smarter to lease the car and then finance the remaining portion after end of lease term?

What about buying a preowned 2006 IS250, would you recommend the savings possible on this deal.. my auction friend says he can do $26-$27k + taxes/his comm ($600).

Thanks guys!

mrtrance

gwoulfe,

Yes, the $410 includes 7.75% tax. $1900 equals down payment, registeration, first month payment, doc fee.

CarMan@Edmunds

Hi heart4you. The dealer invoice price of the car that you are interested in is around $34,350. That puts the selling price that you were quoted for this car at around $1,100 over invoice. This isn't bad, but you definitely should stop by the "Lexus IS 250 / IS 350: Prices Paid & Buying Experience" discussion to see if any other community members have gotten this car for less recently.

The money factor that you were quoted looks good to me, but it has since been revised to .00195 for Tier 1+ customers for the month of September.

I see that you are considering making a $4,000 down payment on this car between the cash that you are considering putting down and your trade. I always advise consumers against making capitalized cost reductions when leasing. Those who make them risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered. You would be better going with a zero down lease and having the dealer cut you a check for any equity that you have in your trade.

Car_man
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CarMan@Edmunds

Congratulations on getting your new IS, shinchanwu. Thanks for giving back and 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 with others. Enjoy your new ride :shades: !

Car_man
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CarMan@Edmunds

Hi tbags1. There is probably a spread of around $4,100 between the full MSRP and the dealer invoice price of the car that you are interested in. That means that the selling price that you were quoted for this car is probably around $1,800 over invoice. This isn't terrible, but I definitely have seen better deals than this. Try stopping by the following discussion to see how much others have paid for similar cars lately: "Lexus IS 250 / IS 350: Prices Paid & Buying Experience".

When you arrive at a selling price that you are comfortable with, have the dealer that gives it to you calculate your monthly payment using Lexus Financial Services' current buy rate lease money factor of .00195 (for Tier 1+ customers). If you decide to do a one-pay lease the money factor that is used to calculate the interest cost of your deal would drop to .00095.

Car_man
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CarMan@Edmunds

Hi gaganw18. I am not personally all that familiar with what the market is like for the IS 250 in you area right now, but if I was in the market for one I would shoot for a selling price of $500 over dealer invoice. Try stopping by the following discussion to see how much other community members have paid for their cars lately: "Lexus IS 250 / IS 350: Prices Paid & Buying Experience".

I wouldn't necessarily say that it would be smarter to lease the IS that you are interested in and then finance its purchase price at the end of your lease, but that certainly is an option. Lexus' current lease money factor for the '07 IS 250, .00195, is equivalent to an interest rate of just under 5%.

You would be able to avoid the large initial depreciation hit that new vehicles experience by purchasing a slightly used IS. That is probably the most economical route for you. I personally wouldn't go with a used one because for me there's just something special about getting a brand new car. Plus I don't like to have to worry about how a previous owner has treated their vehicle. Still this would be the least expensive way to go.

Car_man
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gardner5236

Just need some input on leasing a IS 250 with manual transmission. Here's what they offered me so far; $28,900 with $2,000 down with a monthly payment of $489 per month. Does that sound good? Would I be better off if I just put that money down on the car and finance the rest? Also, I live in Pennsylvania and this is a rear wheel drive car. Does anyone know how good it is in the snow? Thanks much.

andreyd

hey everyone,

wanted to get some feedback as i am about to start looking for a lease on a 2007 is350.

i am looking at just a base rear wheel drive 350, no nav or anything crazy. the edmunds invoice price shows 31420, is that correct?

i plugged some numbers i found on this forum (money factor, residual) into a lease calculator using the above invoice price and +500/+1000 just to get a range, and was coming up with numbers in the ~$450 to ~$480 range for a no money down, 15k a year 36 month lease.

is that accurate/realistic? i am in north jersey, anyone lease one of these recently that would care to share some info?

thanks!

amvisrael

CarMan or to whomever has knowledge,

If the dealer asks me to sign a new contract because of a change in the old contract, does that mean the previous contract is null and void? Will I be able to renegotiate amounts or return the car?

steevo

Seems high to me. They were leasing IS250 AWD for 369 with 2500 down as the Lexus "Special" last week. Not knowing any other numbers or the MSRP, 28900 + 2000 down should get the lease into the low 300s afaiac.

gswytnyk

Does anyone know what the residual should be for a 2008 IS250 AWD for a 24 month, 10,000 mile lease? Sticker is $41,175. Thanks.

gardner5236

Thanks for the info Steevo. Our special here is $389 per month with $3980 due at signing. So, I took my 2007 Toyota Camry to get appraised and they came back with $16,000 for my trade. What! According to KBB that's what it's worth in fair condition, my trade should fall in the excellent category or just a little below, don't you think? I'm fed up with buying cars. This is the third car that I've purchased so, I know a thing or two. In my opinion he is trying to take advantage of me. Oh, this is a base 6-speed IS250 RWD that does not even have HID's or ventilated seats. It's as base as you can get. Am I just wasting my time or should I fight this tooth and nail? Any info would be useful as I have never dealt with Lexus before. Also, how about the fact that I live in Pennsylvania and this is RWD. Will I have a huge problem in the snow? Thanks so much everyone.

md_outback

This is a tough time of year to trade in a 2007 Camry, since there are probably plenty of new leftovers still on dealer lots. Until that supply goes down, trade-in value will suffer. If there is a CarMax dealer near you, get a quote from them - I have sold 4 cars to CarMax as they have always priced above typical trade-in offers I have received from new car dealers. To see if you can get a better price on the IS250, request an on-line quote for the exact same car from a couple of Lexus dealers. Often their Internet quote may be better than the price offered at the dealership. Finally, while the IS250 AWD will probably be better in Pennsylvania snow, you may do just as well by investing in four high quality winter tires. Check out tirerack.com and price out a set of 4 winter tires on 4 new wheels (so you can easily swap them yourself in the spring). For an investment of maybe $1000 to $1200 your rwd car will handle very acceptably in snow and could pay for itself by avoiding the cost of body shop repairs if you can avoid running into just one tree or guardrail. Good luck.

MD

slsexton

Im in the market to lease an 08 IS250 with the premium package. Can anyone tell me the residual on a 3 and 4 year lease with 12000 miles, the invoice cost and what money factor to expect?

thanks for your help!

goingmachfive

I'm getting the royal run around on year end options here. Tried to get a 2007, but I'm told "they're all gone." Now I'm begin offered 2008, but the money factor and fees seem absurdly high for Tier 1+ credit.

Here's the latest communication:
"Lexus is offering an incentive in the form of a reduced money factor on the 2007 models of .00195. The 2008 money factor I will offer you (assuming your credit score is above 730 and Lexus approves you as a Tier 1+) is .00340, reduced from our standard .00365.

As (salesman) has mentioned, we will offer you $1399 savings on the 2008 IS 250 AWD, making the Sale price $ 34,597 plus our $399 Administration fee. Lexus Financial will also charge a $600 acquisition fee, and we will collect $75 to have Title Company complete your registration."

Am I wrong in thinking that 2600+ over invoice, plus "fees" is a weak deal, not to mention the money factor? How do I go about finding 2007 stock when Lexus website won't let you do it? Call dealers at random? My sales rep and his manager essentially won't look for 2007 or even CPO, they're pushing 2008 and that's it.

Should I go up the food chain at the dealership? It's one of Hendrick's, if it matters.

rumandsun

Just ask the dealer re residual and money factor. The Lexus rates for both are national as I understand it. If you are worried that the dealer is marking up the money factor ask two dealers. In SoCal I haven't found anyone hiding the ball on these. Kelly Blue Book has invoice or pay 14 dollars at Consumerreports.com and get the full breakdown as well as current dealer holdback.

christina271

i just checked my local dealer's website and saw that the LFS leases have started to use 10k miles a year instead of 12k. :mad:

avex

I'm looking for a 2008 IS350. Anyone got the October money factor and residual for a 36 month (or 39 months - whatever Lexus offers) / 15k mile lease?

Thanks!

avex

Answering my own question here. According to dealer, October money factor is .00275 and residual is 55% (IS350). Residual will probably drop to 54% next month or December. Money factor may improve.

Of course, I forgot to ask if these figures were for a 15k mile lease. Anyone know?

avex

I was just reading up on Lexus' annual December to Remember promotion from past years. My special-order IS350 is not due to arrive until some time in January. Typically, how long are the December to Remember lease rates good for? Will I still be able to take advantage of them in late January?

CarMan@Edmunds

Hello gswytnyk. Lexus Financial Services' current buy rate lease money factor and residual value for a 24 month lease of a 2008 IS 250 AWD with 12,000 miles per year are .00215 and 65%, respectively for consumers who qualify for its top credit tier. I don't believe that LFS offers leases with only 10,000 miles per year, but if it does the residual value for a 10k lease would probably be 1% higher than this.

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CarMan@Edmunds

Hi slsexton. The dealer invoice price of a 2008 Lexus IS 250 2WD with just an automatic transmission and the Premium Plus Package (MSRP $33,680) is $29,626. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of this car with 12,000 miles per year are currently .00215 and 59%, respectively. The numbers for an otherwise identical 48 month lease are .00215 and 50%.

Car_man
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CarMan@Edmunds

Hey goingmachfive. If you didn't finalize your deal on the 2008 Lexus Is that you were interested in at the end of September, you're in luck. Lexus switched its lease support from the 2007 model to the 2008 model for October. Lexus Financial Services' new buy rate lease money factor for the 2008 IS 250 is .00215 for consumers who qualify for its top credit tier.

I am not intimately familiar with what the market is like for the Lexus IS in your area, but I definitely think that you can do better than $2,500 over invoice on one right now. Make sure to stop by the following discussion to see how much other community members have paid for similar cars lately: "Lexus IS 250 / IS 350 Prices Paid and Buying Experience".

Car_man
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CarMan@Edmunds

Hi christina271. The fact that the dealer advertisement that you saw mentioned has payments that are based upon 10,000 miles per year will not prevent you from leasing with a higher mileage allowance if you need it. You can lease the Lexus that you are interested in through Lexus Financial Services with 15,000, 12,000, or 10,000 miles per year. The payments for leases with 15,000 or 12,000 miles per year would be slightly higher than the payment for a 10,000 mile per year lease.

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CarMan@Edmunds

Here's the info that you're looking for, avex. Lexus Financial Services' October buy rate lease money factor and residual value for a 39 month lease of a 2008 Lexus IS 350 with 15,000 miles per year are .00235 and 52%, respectively for consumers who qualify for its Tier 1+ credit tier. The money factor for an otherwise identical 36 month lease would be the same, but its residual value would be 55%.

Car_man
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CarMan@Edmunds

Hey avex. The money factor that you were quoted for this car is a little high. Take a look at my previous post.

Car_man
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CarMan@Edmunds

Avex, last year Lexus' "December to Remember" sales event ran from mid-November through January 2nd. Chances are that in mid-January Lexus' lease program will be different than the one that it runs for its year-end sales event.

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mra321

I am interested in leasing a IS 250. I would like to trade in my 04' Honda CRV and was told that its worth about 13k (eventho much more on KBB)
Now my cars an SUV and I live in NY suburbs and my car does well in the snow. Do you think its worth it to wait until the spring after snow season?
Will prices be any better/worse then or is benficial to do it during December to remeber?

marcf

Looking to lease either an 07 or 08 IS 350 with prem. 39 moths with 18K miles

I need the money and residual both 07\08. The dealer has 4 - 07's on the lot wants to deal. Another dealer has 08 with less features 41K MSRP vs 36K MSRP, wondering which way is going to be better to start nego...

njcruise

I received the following quote for an 2008 IS 250 w/nav, luxury package, wood trim. Can someone please advise if this is a good deal.

36 mths., 12k miles
MSRP - 39,322
Invoice- 35,276
fees include- 460.00 (first mths. pymt.),
bank fee- 600
motor vehicle fee- 242.50
title - 20
doc fee - 199

Money factor-.00215
Residual -59%

I'm trying to get the payments down to $450 mth. Is that reasonable? FYI- I live in NJ

md_outback

Hey njcruise,
When you list the invoice as $35,276 - is that the selling price of the car? You'll need that to calculate your lease payments. Also, does NJ charge a sales or use tax? If so, that fee needs to be added to the total cost equation. Assuming the "Invoice" you list is actually the dealer's selling price and assuming NJ has a 7% use tax, you would probably need to put out nearly $4400 in capital cost reduction to keep the payment at around $450 a month. Putting $0 down would probably come out to about $570/month. So check out the use tax (I don't live in NJ, but I'm pretty sure they have a tax) to find out the true cost. And if the selling price really is $35,276 that is a pretty good deal! Good luck.

MD

njcruise

MD Outback, thanks for your prompt reply. The sales price is 35,276; no money down and the sales tax is 7%.

njcruise

MD, I spoke with the Lexus dealer again today and these are the final figures for the fully loaded Lexus IS 250.

Sales price: 35,136
Total fees (listed above) including taxes: 2872
Monthly payment: 493

baccus49

md_outback ... what dealer are you using? Does anyone know of a better deal at another dealership for the same thing?

md_outback

njcruise,
OK, with the sales tax added in, the $493 per month is in the right ballpark, assuming your out of pocket will be $2872 which includes the first month's payment of $493 (my lease calculator says it should be $483, so there may still be a hidden fee in the numbers somewhere). In any case, a sales price of $35,136 is very good, I believe that's about $450 above invoice - not bad for a 2008 when there are still some '07s around. It's up to you, but most folks on this forum will recommend against putting any money down on a lease because you could lose it if the car was totaled or stolen in the near future. Good luck!

MD

md_outback

Hey baccus49,
Sorry, but it is njcruise who is looking for the IS250 (they live in NJ). I'm just adding my advice and support, but it seems like they have found a nice price for a 2008 IS250-awd w/Nav.

MD

macdad

Nov. lease rate for 350 both 24mo./12k mi. and 36mo./12k mi.

Also, does Lexus offer multiple security deposits and what is the value/cost of each

Thank you,

macdad

fisearch

Hi guys,

This message board has been helpful to me in the past. I just purchased a lexus IS 250 without NAV.

MSRP $35,651
Purchase Price 31,000 + 299 for Sirius Sat and 600 Bank Fee.

Money Factor .1850
residual 58%
36month/ 12k miles
Drive off Approx. $768
Monthly payment approx. $443

Bought the vehicle in Southern California.
If you guys want to know the dealership and person who sold it to me, let me know. The 2nd best price I was quoted for a lease in SoCal was about 459 and the rest were over 500 per mongh.

I hope this helps and happy shopping!

ntlwhsle

Hello Car_man,

I was waiting for the December to Remember Event cause i know that Lexus offers special money factors and possibly other incentives.

do you know what they are offering this year as far as rate/incentives? i am looking to get an IS250 for my wife.

Also i was thinking that i should be able to get a deal at $500 over invoice at buy rate. Do you think that is doable?

Thanks!

docgary

It seems prices are all over the place!

I have just finished negotiating on a
2008 IS250 AWD w High intensity lights and Premium package.

I do not know the MSRP but the selling price is $36894.
The salesman AND manager both stated that this price is UNDER invoice.

Now, the numbers go:

36 month/ 36000 miles

$460/ month

No Cap Cost-
1st month $460 (includes tax - 7% in NJ)
bank fee $600
Reg fee $262.50 (mandated by state)
doc fee $249.00
tire tax $7.50
? fee $7.70

total OTD $1586.70

Assuming the .0185 factor and 59% residual, is this a decent deal?

Is the selling price indeed under invoice?

thanks
docgary

docgary

The above post did not have correct info....

Interested in feedback from Car man for the following lease deal...

2008 IS 250 AWD, 12k miles/yr, 36 month lease
Premium package
Hi intensity lights

MSRP..............$36,894
Selling price......$32,881 (under invoice as per salesman )
factor.... 0.0185
residual..58%

No out of pocket, just 1st month, bank fee of $600, registration and doc fees

Monthly payment of $430 before tax

.(NJ 7% brings total monthly to $460)

Would love to hear its a decent deal...

Car Man helped me on my last Infiniti lease!

This forum is a great service!

thanks in advance
docgary

avex

Car-Man,

Are the December lease numbers out yet for Lexus? I'm interested in the money factor and residual for an IS350, 15k miles per year, 3 year lease.

Thanks!

youhoo211

I'm looking for the same info

ntlwhsle

I finally got the numbers for December to Remember event.

Money Factor is .00155

Also something that most people dont know. With Lexus you can put multiple security deposits down (that are refundable when the lease ends) and buy down the money Factor!!!!

avex

Are you sure that Money Factor is for an IS350? If so, that's amazing. What's the December residual on an IS350 (3 year, 15k mile lease).

> Money Factor is .00155

ntlwhsle

Yes i am sure. at least a dealer quoted me on that.