Lexus GS 450h Lease Questions
CarMan@Edmunds
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Hi everyone. Please use the following discussion to post any questions that you have about leasing a Lexus GS 450h. Thanks.
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Just a suggestion.
Got a few questions about leasing this car, as I was called yesterday that my car has come in a cool black gs450h, but when we started to work out the numbers it seemed way too expensive, we discussed multiple security deposits(can these be lost if the car is stolen or totaled?) I was looking at a MSRP of $60,049, no discount since it isn't readily available, but given a $1060 a month on a 36 month, 15k mile lease. (I just leased a cls 500 with sticker of 74k for $1080 a month). What would be a fair price and what should the residual and money rate be. Was excited to get the car but seems very expensive for a $60,000 lease.
Thanks in advance for any help.
Eccentric2
I got the same quote. How did you work your deal out?? :confuse:
Best of luck.
David
Since most of these high end cars are leased and not purchased and since money does matter, maybe Lexus doesn't have that many GS 450h's to sell and therefore won't offer attractive leases.
Of course, when Mercedes releases the new engines for the CLS, I suspect their leases won't be so attractive either.
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My questions is what is the secret to leasing this great car at a price more in line with what bmw is leasing its cars at? Or do i just bite the bullet and buy the car?
The explanation I received from both dealers is that there is NO resale market for this car, therefore few wholesalers are interested in bidding for it. It worries me for a year or two down the road with what it's going to be worth. I also think people are scared about how the batteries are going to hold up.
I kept the car and remain reasonably happy with it. Nothing I can do about the value now, but it's something that new buyers and leasers should consider. There's obviously a reason why Lexus is putting the residuals so low on the leases. It appears to reflect reality.
What is the current MF & residual on a 36mo/12k term for a '08 450h ?
Is the MSD program for Lexus still the same (.00008 MF reduction for each SD) ?
Due to the current economy, do you think a 450h can be had for under invoice (in SoCal area) ??
TIA - socalJD
It is difficult to say how low the dealers in your area will be willing to go on this car, but I personally doubt that you will be able to get one for under invoice. I personally would shoot for a couple hundred dollars over. Try stopping by the "Lexus GS 450h Prices Paid and Buying Experience" discussion for additional feedback on this car's pricing.
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Thanks!
The lease program is bad, but Lexus is providing $6,000 dealer cash on this car right now. Make sure to take it into account when negotiating the selling price.
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One thing that jumps out at me about this deal is the large down payment that the dealer is asking for. I always advise consumers not to make any sort of capitalized cost reduction when leasing. Those who make one risk losing part or all of it if their vehicle is totaled in an accident or stolen and never recovered. Even though it means that your monthly payment will be a little higher, you will be much better off going with a zero down lease.
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I am looking to get a new car, preferably before the CA tax rate goes up on April 1. However, if other programs might kick in that would provide savings that offset the extra ~$550 in tax, I could certainly wait.
Yes, Lexus is still providing $6,000 dealer cash on the 2008 GS 450h. It is not providing any dealer cash on the 2009 GS 450h, but it does have a special lease program on it.
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I bought a 1992 Vigor GS the first weekend they were available for sale back in 1991. I had it for 16 years, over 165k miles. It was a great car.
I ended up buying a 2009 GS450h in March for $56,000 (about $150 over invoice with all the options: Mark Levinson stereo, Nav, XM, run flat tires, Lexus Link, ...). I just beat the CA state sales tax increase by a couple days. I wonder if had I waited, maybe the dealers would have had new incentives that would have more than made up for the 1% tax increase. Oh well, I am happy driving my new GS450h.
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Lexus Financial Services' September buy rate lease money factor and residual value for a 36 month lease of a 2009 GS 450h with 12,000 miles per year are .00030 and 43%, respectively.
Having said this, I heard a rumor that Lexus had enhanced its lease program on all models yesterday. I'll look into that. If you'd like, post a reminder for me in this discussion in a day or two and I'll let you know what I have been able to find out.
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You mention the price is $51K, but what are the options? For a 2009 you should not pay more than $1,000-2,000 below invoice right now.
Asking $42,995, 15k miles, Nav., ML, etc..It does have run flat tires (original) and I think I should ask for new tires (non run flat) as part of the deal. It does have spare. It has original warranty, but does anyone know if I can go to the Lexus dealer and purchase a platinum warranty? I drove over 30 miles and it was tight and I was surprised the tires were not actually nosier; Dunop 5000 run flates. Please give me some wisdom, anyone out their???
You also might want to try looking up this car's value over in the Used Vehicle section of Edmunds.com.
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Hope somebody can help.
I am special ordering the above. The car comes to $61500 total MSRP. I'm looking to lease and the number my dealer (Phila-area) gave me were: $813.50 for 48 months.
I do not have any other details (residuals, etc)...the number is just what I was told.
Is this a good deal? Am I in the ballpark? :confuse:
Any questions feel free to ask...
Thanks!
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After negotiating with dealers in DE and MA for the car to be factory ordered our local PA salesguy won out. Since the car would not be delivered until 3-4 months from order date none were willing to give a definite monthly lease price (because of future money factor, etc.). I & wife (her car) understood that, but still needed a "cap" amount - they could tell us now that the lease amount would be X but when the car actually arrived they could say the lease price was now X plus $500 (which we thought was unfair since her current lease would be up and she would then be back to square one AND without a car).
Bottom line:
The MSRP for the car is $63687.
The current negotiated monthly price is $815 (4 year lease).
We "capped" the lease at $900. So if the economy gets worse, the most we'll pay is that amount.
If Lexus is running a deal concurrent with the car's arrival (in November) or rates are more favorable to us it may even be less than $815.
SO, MILLION DOLLAR QUESTION:
How good/bad was our negotiating skills? Did we do good? Are we being hosed? :confuse:
Thanks for any/all input!
Thought I'd recount the highlights of a successful leasing experience for whatever it's worth. First, cudos to Edmunds for giving me all the info. I needed to make a great deal.
I leased my 450h from Southbay Lexus inTorrance. I told our salesman, Kevin M[], understood that I was using Edmunds as my primary source of information. It made his life easy. He cut to the chase and gave me clear and straight answers to every one of my questions. If my Mother wanted a Lexus, I'd send her to him.
Following Edmunds advice, I talked about purchasing until the last minute. I also told them I was not going to be trading-in my car.
I was offered and accepted $2750 below invoice. To my surprise, at the end of the deal I got a bonus. Here are the numbers:
36 months, 15,000 miles a year
Money factor: .00090
Residual: 56%
My last stop at the dealership was in the finance office to sign all the docs. I expected the usual pitches but got a very pleasant surprise. I was interested in one pkg. that covers the high end gotcha's that can come-up at the end of a lease, tires, excessive damage, etc. I liked the pkg. but not the price. When I told the finance manager that I was on the fence about it I was told that Lexus gives the dealers money to sell their add-on packages - and that the dealership would pass that money on to me. The pass-thru equaled more money than the pkg. itself. I got the pkg. for free and some.
I'm a happy camper. Thank you, Edmunds. You saved me a bundle.