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2013 and earlier Lexus ES 350 Lease Questions

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Comments

  • colotjcolotj Posts: 18
    It's up to the buyer to negotiate the best price possible. It's up to the dealer to get a proper profit from the sale. I doubt many dealers are giving away vehicles.

    BTW It is a buyers market right know.
  • sfla_car_guysfla_car_guy South FloridaPosts: 9
    Hello all,

    :confuse: Does anyone know what, if any, restrictions there are with the $1000 Customer Loyalty cash that LEXUS is offering prior ES owners?

    Can I use it as a Cap cost reduction, in lieu of inception money, or any another way I may not have thought of?

    I would prefer to use the $1k to reduce my cash out of pocket @ closing, you know use it to pay my 1st months payment, tag transfer fees, taxes and bank (acquisition) fee but the dealer wants to use it as a cap reduction to lower the cost of the car. (Big surprise!)

    Any thoughts out there???
  • jpackeljpackel Posts: 4
    It has to be listed as a rebate for tax purposes. If you want to use it instead of paying your fees, let them cap your fees and use the rebate. BTW- I wouldn't pay taxes up front. If you total the car, you are out the money.
  • $2000 out the door, the terms turns out to be 10k/36mths. Payment is now $412/mt tax included. The package is non nav, i believe the msrp is around $36k. Now offered a navigational package all terms the same but with mthly pmt of $447/mth (msrp around 39k). Is this a good deal?
  • john252john252 Posts: 7
    Hi,

    I am new to this forum and would appreciate any help. I am leasing for the first time ever and thinking of ES350. Been doing some research, but I guess your specialized advice is worth so much more. So, here it is:

    Was offered by a dealer in NY area:
    1) a lease with $800 down (first month, etc) and $467/month for 36 months, 10 K miles, MSRP $37,400 for the car with the premuim package and
    2) lease with $1200 down (first month, etc) and $528/month for 36 months, 10 K miles, MSRP $42,500 for the car with the NAVI.

    Please let me know what you think, would appreciate any useful input that will help me make the decision by the end of this month. Afterwards, dealer says, rates will change.
    Grateful,

    John
  • brian1848brian1848 Posts: 7
    Need to know the following things:

    - Sales Price
    - Money Factor he is quoting you
    - Residual rate for your model
    - Tax Rate

    I'd suggest you focus on the actual price that he is charging you and the money factor as your monthly payment is a result of a math problem based on those two key figures!

    Best of luck... also, he may be telling you the rates are going to change to pressure you into buying -- don't let him. They may in fact change (and there maybe someone on this board that knows) but don't let that PRESSURE you into a deal that doesn't feel good - because they could go DOWN!...

    Good luck!
  • john252john252 Posts: 7
    Many thanks Brian 1848,

    I'll try to obtain those figures and get back to the forum.
  • john252john252 Posts: 7
    Hi Brian 1848 and thanks again,

    Here are the figures you requested:

    - Sales Price : 1) $33,000 2) $37,300 (Navi)
    - Money Factor : .00120
    - Residual rate: 54% for both models
    - Tax Rate : 7.375

    Again, this is the offer:
    1) a lease with $800 down (first month, etc) and $467/month for 36 months, 10 K miles, MSRP $37,400 for the car with the premuim package and
    2) lease with $1200 down (first month, etc) and $528/month for 36 months, 10 K miles, MSRP $42,500 for the car with the NAVI.

    Please advise at your earliest if you can.

    John
  • brian1848brian1848 Posts: 7
    I can't comment on the residuals but the price looks pretty close to the deal I am working on an ES350 with Premium Plus and Navi. Lets hope we are both getting a good deal!
  • john252john252 Posts: 7
    Thanks again.

    So, in conclusion, if I get the above mentioned figures from the dealer in terms of "drive-off" payment and monthly rate, shall I gon on with the deal and sign the papers? Your opinion is important.

    John
  • brian1848brian1848 Posts: 7
    John, as I said, ultimately you are the one that has to decide but it sounds to be a pretty good deal. The key will be for you to review the paperwork in detail as other dealers i have worked with (this will be my first lexus should the deal go through) done things like put the "net sales price" (which includes sales tax) as the top number in th lease -- in NC we pay tax on the lease payment not on the purchase price so that adds another $600ish dollars to the financing.

    So I say you consider moving forward if you feel this is right for you and your financial situation (only you can determine that) and just look at the paper work very closely!

    Brian
  • brian1848brian1848 Posts: 7
    BTW, I noticed that it looks like Edmunds isn't able to provide the invoice price on the ES anymore -- and it looks like the MSRP actually increased on the "base" ES by a few hundred dollars in the last day or two.
  • ocautoseekerocautoseeker Posts: 425
    Most of my clients are in either the midwest (where I'm from) or on the west coast (where I live), and thus I utilize a few different leasing sources. A few weeks ago I posted May rates from the programs that I had in my possesion from one source, but it seems that there is a discrepancy between regions on LFS's current numbers. This doesn't surprise me as Toyota's rates are typically regional and can vary substantially. Apologize for any confusion.

    At any rate, the mf and residual appear to be accurate (for your region), and the cap cost looks good. Your drive-off's are low (1st mo and dmv's), so I'd say you've got the green light to proceed. Say "no thank you" to everything in Finance and you'll have yourself a great deal, and a fabulous car to drive around in for the next 3 years.
  • john252john252 Posts: 7
    Many thanks, appreciate your insight.

    John
  • john252john252 Posts: 7
    Many thanks, appreciate your insight and useful advice.Hope you're getting a great deal!

    John
  • lexluvrlexluvr Posts: 1
    Hi-

    I'm looking at a 2008 ES 350 level "3" car (Nav) for a 2 or 3 year lease. I have level 2 credit and live in zip code 30022. I would like to do a 1 payment lease. Hand 'em a check and I'm square for the lease term. Need 15,000 mi per annum.

    Is $16,000 to $17,000 a reasonable "1 pay" amount (for 36 mo), or am I going to be forced to go higher? (Any insights will be greatly appreciated) thanks!

    P.S. - Any thoughts on a reasonable 1-pay amount for 24 mo? Again, thanks!
  • kaweekakaweeka Posts: 1
    I'm looking for a lease on a 2008 ES 350. Premium Plus with Nav. MSRP $42325. The best deal so far locally is $38192.12... the Lease end value is $23,229.25 and the Residual is set @ 55% the money factor is 0.00080 and we went 36 months with 10,000 miles per year. $3000.00 dollars out of pockett...

    All of this math equates to a payment of $450.42 Including (Ft Myers, FL) Tax...

    Any thoughts here?
  • Just leased an ES350 with Navigation. 15k/yr 3 years. 1500 due at signing which includes the first month, bank fee and license fees. 520/month (which includes my 9% tax rate). I really had 2500 due at signing but am applying my 1000 return customer credit to the deal. This car seems much better then the 2006 that I am returning 6 months early.
  • lglawlglaw Posts: 3
    this may be helpful to some of the recent posts - I have a lease order pending - waiting for the exact car - in nyc - ES350 $1265 out of pocket - $528/mth - 10G miles - premium plus w/nav. - and $12/15 less if I get the car next month because they will not have to pay my last month payment on current car - sounds similar to the other quotes - the only number that bothered me is the $600 bank fee which is half of the out of pocket
  • ocautoseekerocautoseeker Posts: 425
    The $600 bank fee/acquisition fee is unavoidable and is set by LFS. If you don't want to pay it upfront, have them cap it into your lease. It will add about $18-$20/mo to your payments.
  • sousixersousixer Posts: 1
    Does anyone have any recent experience in leasing a Lexus ES 350 from Parker Lexus in Little Rock, AR? I talked with them last weekend and their offer was based on only $2000 below MSRP. Is that the going discount here in Arkansas, or what would be a reasonable discount for lease purposes? I keep reading where others around the country are getting invoice pricing or below. Thanks.
  • john252john252 Posts: 7
    Hi all ES350 fans,

    Just got my order on Smoky Granite ES350 with black leather interior from a NY dealership. I'll go pick the car in a few days.
    These are the options:

    NV : Lexus Premium Audio w/Navigation
    PT : Premium Plus Package
    HL : HID Headlamps w/Adaptive FrontLighting
    PA : Intuitive Parking Assist
    WU : Wood and Leather Steering Wheel
    FS : Full-Size Spare Tire
    BE : Rear seat side airbags
    Z1 : Port installed accessories: Wheel Locks, CargoNet and trunk mat

    1K, 5K, 10K service included free by dealer
    15% off service x 36 months by dealer

    Got the car for 36 months, 10K/year with $2565 down and $439/month for a selling price of 36,403.
    Please tell me what you think.
  • jllorenjlloren Posts: 2
    36M/15K. Tungsten Pearl/Black interior Ultra Lux, Mark Levinson and Park Assist. MSRP 44,925 + chrome wheels. Total MSRP 46629. Selling price 39,336 + 600 acquisition fee+ 45 document preparation + 28 electronic DMV for total of 40,009. Cap reduction of 1000 (loyalty bonus) brings the Adjusted Capitalized cost to 39009. Total drive off from me 983.35 (first month + registration). Money Factor .00135 brings the monthly payment to 529.42 + tax. Residual 22962.
  • nydesi80nydesi80 Posts: 13
    Hey Jon can you tell me which NY dealership this was with because I'm looking to get the same car as well. Seems like a good deal to me.

    When you mean premium audio you mean the Mark Levinson right?
  • ocautoseekerocautoseeker Posts: 425
    That's a great deal!!!
  • jllorenjlloren Posts: 2
    This is not in NY is in Southern California.
  • nydesi80nydesi80 Posts: 13
    Hey Jon can you tell me which NY dealership this was with because I'm looking to get the same car as well. Seems like a good deal to me.

    When you mean premium audio you mean the Mark Levinson right?
  • mrussomrusso Posts: 9
    On ES350, I was offered $520/mo lease with $1500 down for 10k mi/yr, 36 mo includes nav system and XM radio. Is this a good deal, car_man? I don't know the MF. I will probably just lease again at the end of the 36 months so I am not so interested in factors - basically, the lowest bottom line monthly payment is my main focus. Thanks!
  • dhamiltondhamilton Posts: 875
    The factors will help determine the payment, and help us know if your getting a fair deal.

    Educate yourself, you'll be glad you did.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi mrusso. You never mentioned the selling price or MSRP of the ES that you are interested in leasing. These are important numbers 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 what this vehicle's selling price is in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I am sure that either myself or another knowledgeable community member would be happy to give you their opinion of this deal if you let me know what these numbers are.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
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