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2013 and earlier Lexus ES 350 Lease Questions

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Comments

  • manika24manika24 Posts: 10
    edited October 2012
    I didn't find any reference for the lease here. But this is what I got:
    2013 ES350 with luxury package and 18" chrome wheels
    MSRP $44,332
    Down payment $1,188
    Residual $28,xxx
    Monthly $552
    Payments left 35 months and 12K/year

    did I get a good price?
  • Has anyone negotiated a lease for ES 350 ( 2012 or 2013 ) in the San Francisco Bay area. If yes I would appreciate if you can share some numbers.
  • Hi tambaydriver. I take it that this is a 2013 model? The money factor that you were quoted is definitely too high. Even without any lease support, Lexus Financial Services' buy rate lease money factor should only be around .00170 for someone with your credit score.

    Car_man
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  • If so, are they just credit score dependent or are there other factors one can use to influence dealership to lower?
  • Hi hondanj1. The money factors that I mention here are the best available. No matter how high your credit score is you won't be able to do better than this. The money factors are higher for consumers who have lower credit scores.

    Car_man
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  • minmanminman Posts: 6
    ended up using Cherry Hill as they did come in with what I felt was a great deal. 41,915 with real leather, not their NuLuxe they try to push, Nav, added real spoiler (only standard on hybrid) and added side body moldings. My brother in law got same car, same price, he's buying, I'm leasing. RV = 27, 416. payments were 575 before I added one package at $20/month extra.
    Love the car- got Nebula gray- beautiful, did wait a month, but worth it. Enjoy driving it much and I had 4 BMWs in my time.
  • hprjrhprjr Posts: 24
    Car Man, is this a good deal on a 2012 es350?? $43093 msrp with nav. heated seats. etc for 24 months,10k miles/year,$3995 down and 1st month plus regist fee (338) for a total of $4685 at signing with monthly payments of $329 not incl. tax. Residual of $28010 which is %65 of msrp. Thank you for any advice.
  • Hi hprjr. What is this car's selling price? I as because the selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Knowing this number makes it much easier to evaluate your deal.

    Car_man
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  • hprjrhprjr Posts: 24
    Car Man, thanks for your help. The selling price is $37,593.
  • insidecarbuyinsidecarbuy NYCPosts: 95
    Just helped a friend of mine get this deal on a 2013 Lexus ES350 with M.S.R.P. of $43,350 and selling price of $38,200 - monthly lease payment of $409.17 per month! The money factor is .00170 for 24 months and residual 72% at 12,000 miles per year. I have to say the Intuitive Parking and Blind Spot Monitoring are definitely worth getting. Here are the details of the lease below.

    Customer Name: Inside Car Buying LLC WD Deal ID: 637
    Sale Vehicle: New 2013 LEXUS ES 350 9000 4dr Sdn w/AC , Automatic , Odom: 0


    Payment Details
    Term 24
    Base Payment 409.17
    Total Payment 409.17
    Purchase Option 31,212.00
    MSRP 43,350.00
    Est. Miles Per Year 12,000
    Excess Mileage Charge 0.25



    Amount Due at Signing

    1st Month Payment 409.17
    Acquisition Fee 700.00
    Fees & Insurance 230.25
    Upfront Taxes 781.39
    Total Inception Fees 2,120.81

    Total Cash Required on Delivery 2,120.81


    Tax Information
    Customer State: New York Customer County: WESTCHESTER
    Type Amount Rate Paid
    Cashdown Tax 57.16 7.3750 Upfront
    Upfront Tax 724.23 7.3750 Upfront

    Fee Information
    Description Amount Paid
    Reg 132.75 Upfront
    Insp 10.00 Upfront
    Title 12.50 Upfront
    DocFee 75.00 Upfront
  • johnvajohnva Posts: 3
    I don't have all of the numbers yet, but I think this is the best we can do at this dealership:

    MSRP: $43,849.
    Capital Cost Reduction: -0-
    Due at signing: Taxes, tags, bank fees, 1st payment
    Term: 36 mos.
    Mileage: 10k/year
    Monthly payment: $545.

    We'd like 12k/year, but will have to see how much further the deal can be pushed. Probably not much more.

    Any reactions/advice appreciated.
  • snowman22snowman22 Posts: 109
    I can give you a comparison from the Western New York area---based on $39,782 msrp. $429.00 month 27 months with $3979 down plus tax, fee's and dealer charges. 10,000 miles per year. Hope this helps.
  • snowman22snowman22 Posts: 109
    That sounds like the deal of a life time. How did you get 5k off msrp on a new model????Sounds like a great great deal---------------please send all of us your secrets for making the deal.
  • rbirns1rbirns1 Posts: 277
    edited November 2012
    What are the numbers for 36 month lease of the ES with 10k miles? What about the hybrid?
  • tga01tga01 Posts: 59
    Carman,

    Would you have th 27month lease rate and residual percentage for 15,000 miles for a 2013 ES350?

    ALSO - would you happen to know what LEXUS charges upfront for additional miles on its leases ?

    Finally, do you know what the MSD rate reduction is for Lexus ?

    Thank You so much for your help!!
  • HI,

    I'm looking to lease a 2012 ES 350 with navigation but dont seem to find one anywhere. I'm located in New Jersey. Is it true that all the 2012 ES 350s are off the market? Did anyone get an ES350 with Nav recently? Am not a big fan of the look of the 2013 so would prefer a 2012.

    Thanks for your help.
  • rbirns1rbirns1 Posts: 277
    ^ not a big fan of the new look 2013? I think it's a huge improvement. To each his own.
  • Am fine with the external look. Its the interior that I am not a big fan of. My issues are

    1) The analog clock in the center and the big buttons look like the interior of a car from the 80s (according to me anyway). The 2012 dashboard has a much cleaner look.

    2) I prefer the touch-screen to the joystick thingy that the 2013 has.

    In any case looks like it wont matter. Cant find a 2012 with Nav anywhere. Looks like I have to go for a 2013.
  • Hi rbirns1. Lexus Financial Services' November buy rate lease money factor and residual value for a 36-month lease of a 2013 ES 350 with 10,000 miles per year are .00170 and 63% for consumers who qualify for its top credit tier.

    I think that the numbers for the hybrid models are about the same.

    Car_man
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  • Hi tga01. Hmmm, lots of tricky questions :).

    Lexus Financial Services' November buy rate lease money factor and residual value for a 24-month lease of a 2013 ES 350 with 15,000 miles per year are .00170 and 70% for consumers who qualify for its top credit tier.

    I haven't seen the 27 month numbers, but they're probably pretty close to this.

    The last time I checked, LFS did offer multiple security deposits with each one lowering the money factor by .00010.

    I'm not sure what the charge per mile is.

    Car_man
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  • Hi,

    I'm looking to lease the 2013 Lexus ES 300H in SF, Ca for a 36 month lease with 12k miles and wanted to see if you knew what the December buy rate and residual was for this vehicle or would it be the same as November which I believe was .0017? Also, would a 790 credit score qualify for the tier 1+ rate? Any help would be greatly appreciated. Thanks.
  • Hi ecodriver07. Yes, the money factor for the 2013 ES 300h is indeed the same as October. Yes a credit score of 790 would qualify as Tier 1+ for LFS.

    Car_man
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  • I just leased a 2012 es350 fully optioned out that you could take over if you like.
  • Is that even possible?
  • ecodriver07ecodriver07 Posts: 5
    edited December 2012
    Hi Carman,

    Thanks for your advice. I ended up leasing the 2013 lexus es300h hybrid and had a couple questions regarding the deal i negotiated and wanted your thoughts. I really appreciate it.

    I ended up negotiating a leasing with multiple security deposits. While the money factor offered with the security deposits was much lower than the buy lease rate money factor, my monthly payments were higher than if I had just put down a $5k down payment for the vehicle. The total spent over the term of the lease by going with the security deposit as opposed to a down payment saves me approx. $1500 after getting the security deposit back. Do you reach the same conclusion?

    Is it correct that my monthly payments will be higher by going with a lease with security deposits and you recoup the savings once getting the deposit back at the end of the lease? The sales manager said that by going with the security deposit lease option, the adjusted cap cost is higher for that lease since the security deposit and trade in value of my car can't be applied towards the cap cost reduction. Its applied towards what's due at signing. is that true or was he lying? Here are both lease options I was presented. I appreciate your input on this. which deal would you have chosen and can you explain how security deposits apply towards the net cap cost? Thanks!

    Lease I accepted with security deposits:

    $582/month (incl. tax)
    MSRP: $45237
    INITIAL CAP COST: $43,354
    ADJUSTED CAP COST: $44,054 (after bank acquisition fee of $700)
    12k Miles/yr 3 year lease
    Residual: 62%
    Money factor: .00128
    Residual Value: $28,046
    Security Deposit: $5,400

    Initial Fees: $104.25
    Annual Fee (registration): $397
    Drive off cost (including, 1st months payment, security deposit but before trade-in applied): $6,483
    Trade in value of vehicle: $1,646 (applied to fees and security deposit due)

    Total due at signing: $4,837.68

    **Total spent over the term of the lease is: (before trade-in applied)

    $582/month X 35 months= $20,370 + $6,483 drive off cost (including 1st months payment) - $5400 security deposit = $21,453 (total including trade in =$19,807

    --
    2nd offer with down payment option (I declined)

    $514/month (incl. tax)
    MSRP: $45237
    Net CAP COST: $40,887.08 (after bank acquisition fee of $700)
    Down payment: $5,000
    12k Miles/yr 3 year lease
    Residual: 62%
    Money factor: .00170
    Residual Value: $28,046
    Trade in of vehicle $1,646 would be applied towards $5k down payment

    **total spent over lease: (before trade-in applied)

    $514/month X 35 months = $17990 + $5,000 down payment (including 1st month) = $22990 (total including vehicle trade in= $21,344)

    $21354-$19807= $1,537

    *Difference of $1,537 net savings with the security deposit lease deal by my calculations.
    *****
  • You're very welcome ecodriver07. Thanks for the update.

    Multiple security deposits is usually a good way to go when leasing if you have the extra cash. Goodness knows that it's not earning any interest in the bank, so why not put it to work for you? As you mentioned, MSDs are much better than down payments because you actually get the money back for the deposits at lease-end.

    Paying additional security deposits has no affect on a vehicle's capitalized cost. It is essentially used to buy down the money factor that is being used to calculate the interest portion of your vehicle's payment. The cap cost on a lease with MSDs and no cap cost reduction would essentially be your vehicle's selling price plus taxes and fees. If you had used that money as a down payment instead of putting it towards additional deposits, the capitalized cost for your lease would drop by that amount, but again you wouldn't get the money back at the end of your lease.

    You made a very wise choice, even though it means that your monthly payment will be a little higher. In my opinion, making large down payments on leases is a complete waste.

    Enjoy your new ride and Happy Holidays :shades: !

    Car_man
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  • Hi Carman, can you tell me a fair lease rate based on the following parameters:?

    ---Base model (seems very well equipped and I don't need leather and nav)
    ---10K miles per year
    ---36 months
    ---Excellent credit
    ---$0.00 down

    ---Trading in 2010 Infiniti G37 Journey Premium with under 15K miles. Perfect condition. Payoff is $24,900 (3 lease payments remaining of $485.00 each).

    Any guidance is appreciated -- thank you.
  • rbirns1rbirns1 Posts: 277
    Just ordered the car. ES300h (nebula grey w/black) with lux and nav, MSRP $46,312. Lease deal with sell price of $42,997, 27 month, 10k miles, 71% residual, .0017 money factor, $700 bank fee plus tax, all rolled into payment. Total $575 per month. $420 additional at inception for DMV and doc fees, higher than normal because I am out of state (NY, dealer is in NJ). Still blows away any local deal.

    Did the whole deal by email and phone with no haggling, delivery next week. They are even meeting me halfway to deliver (saving me an hour each way plus tolls), and taking my lease-end Cadillac back to their dealer to hold for bank pickup.
  • Got the following quote

    2013 ES350 with Premium + Nav, MSRP abt $43,700.

    Taxes rolled in (In IL we have to pay tax on the entire car)

    Only 1st Payment + Fees down ~ $1000

    42 months, 15K miles/year

    Monthly Payment: $559

    Any thoughts?
  • Car_Man,

    Can you provide me with the residual value and money factor on a 24 month, 15k mile per year lease for a base Lexus ES300h (no nav or lux package). Thanks!
  • Hi prmstr. There's two main negotiable aspects to leases, the money factor and the selling price of the vehicle.

    As far as the money factor goes, Lexus Financial Services' December buy rate lease money factor for a 2013 ES 350 is .00170 for consumers who qualify for its top aka "Tier 1+" credit tier.

    As far as the selling price goes, if I was in the market for a 2013 ES 350 right now, I personally would shoot for a selling price of around $500 or so over invoice. You can look up the invoice price of the car that you want, exactly as you want it equipped over in the New Vehicle Leasing section of Edmunds.com.

    Lexus is waiving the first month's payment on leases of this car through LFS this month.

    Car_man
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  • I'd be happy to help you out collegeatto. Lexus Financial Services' December buy rate lease money factor and residual value for a 24-month lease of a 2013 ES 300h with 15,000 miles per year are .00170 and 70% for consumers who qualify for its top aka "Tier 1+" credit tier.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Car_man, now that Lexus' December to Remember is over, what are the lease rates for a 2013 ES350 with premium and navigation. Looking at 24-26 months with 12,000 miles. Located in South Carolina.
  • I am new to leasing, I have been attempting to educate myself with info on residual values & money factors...I found this discussion board to be quite informative....I am going to the Lexus Dealership tomorrow just for a test drive but i have already considered the possibilty of leasing if the deal is good. Please tell me if the MSRP is 41,350 can I negotiate this to around 40,000 and expect the RV to be ball park 25-27,000? With a purchase option of around 31,000...Considering I have A1 credit can I expect my monthly payment to be around $550-570...with $1500 down?....are these numbers realistic---please help this 1st timer to be wise in leasing decisions...additional advice appreciated.
  • Hi kansascityborn,

    If I am not mistaken, the residual value is based on MSRP not the negotiated cost. The dealer will give you the residual percentage. It's different depending on the length of your lease (24 vs 36 months for example).

    I just leased an ES on 12/31/12 and the residual was 71 or 72%. Can't remember. On the 36 month lease, I believe it was around 62%. It may vary for different regions though. I'm in the San Francisco area.

    I leased a 2013 ES350 with NAV and Blind Spot Monitor. MSRP was about $42700. My negotiated cost was $37,700.

    $2000 down
    24 months
    12K Miles per year
    $396 per year + tax

    Hope this helps.
  • Thanks Sibra74...!!! Leased my 2013 ES Lexus 350...in Kansas City MSRP 41,817 (no Nav but I do have blind spot monitor)...for negotiated to $37,306...36mo lease @62% residual...no money down $521.85 monthly....I think I did good for my first lease + I had a really good salesman :)

    Thanks again for your response!
  • jrod13jrod13 Posts: 37
    I am in nj can u let me know the dealership u dealt with for that deal. Thanks
  • 038rt038rt Posts: 1
    Ray catena in Manalapan was a very straight forward dealership
  • Hi,

    I am looking to lease a 2013 ES 350 with Navigation. MSRP is around 43638. What would be the best price for leasing this ?. Will they come down from the invoice price. How did you get almost $5000 off from the MSRP ? Please get back to me asap, if possible.

    Thank you
  • Hi attorneyinsc. Lexus Financial Services' January buy rate lease money factor and residual value for a 24-month lease of a 2013 ES 350 with 12,000 miles per year in Southern California are .00145 and 71% for consumers who qualify for its "Tier 1+" credit tier.

    The numbers for an otherwise identical 36-month lease are .00145 and 61%.

    Car_man
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  • Hi, Carman. Can you give me the current ES350 residual and money factor for 36 months, 10,000 miles? Also, is it possible to do less than 10,000 miles/year through a Lexus Financial lease? Thanks.
  • Car_man, I asked for the ES350 rates above, but could you also suppy me with the rates for the ES300h?

    By the way, I've used your information on two prior Lexus leases and it's been invaluable. Thanks for all the help!
  • Hardly any activities in this forum. Any one buying Lexus.
  • Could be the arrogance of the lexus dealerships. Talk about a whole bunch of snobs---Now don't get me wrong. I think the lexus line--expecially the Hybrid line-up is the best.The ES 300h is beautiful and has the most comfortable seats I have ever sat upon. Except for the RX 400h---those seats are like a favorite lounge chair. My problem is the dealers. They do not want to deal. Car man can give all of us the numbers---but---- the dealers do not follow the guide lines for either end of the deal--- trade in--or the lease/buy. I would be driving that new hybrid if the dealings were above board. I find them as a bunch of sneaky cheats. Pompous butts come to mind as well. With all that said--- that's the dealer by me--- the only one within miles-- so they kind of got us by the short hairs.I'm sure many Lexus dealers are excellent. Unfortunately we are not afforded that opportunity.
  • Hello Car Man
    You give excellent advice on every aspect pertaining to the lease/purchase.
    I'm sure the numbers you provide are as sound as the dollar. Whoops---could be a bad example. Anyway----I have tried to garner a deal using the numbers provided on several trips to our one and only Lexus dealer. I don't go in with a no it all attitude nor a Casper milk toast demeanor. I can' even come close to anything close to the deals on this blog nor will they go by the numbers you supply. They also hold to MSRP and use auction value for your trade in. God only knows I have tried. BUT---it's not my nature to be led down the Prim Rose path. So any suggestions for a lease on the 2013 ES 300H would be very much appreciated. I'll try our dealer again. I gotta be a glutton for punishment. But another dealer is to far away. :sick:
  • qkslvrqkslvr Posts: 34
    snowman22, I'm not sure on the 300H, but the Es350 is very negotiable.If there aren't any dealers nearby, they may think they can charge msrp. If it were me, I'd send a request for the best price over the internet to 3 or 4 dealers, telling them I am going to buy within the next 7-10 days. Include all the options you want, don't mention a trade in. Once you get your best price, then decide if you want to trade in at auction prices or sell it yourself. The finance guys make money too, so some dealers won't give you the buy rate on the lease.

    I'd fly to another dealer if the price was right.
  • Same with the non hybrid. They want close to msrp. They did the same with the leftover 2012's. They wanted close to msrp and that was in December. Even with the December to remember taking place. Go figure. Thanks for your reply.
  • I have gone to Ray catena twice to negotiate a lease for the 2010 Lexus and 2013 lexus I now have and even after telling them the price I can get it for at Lexus of Edison they were unwilling to match it. I've leased 2 cars at Lexus of Edison and was very pleased. Shop around before making a deal with ray catena
  • snowman22snowman22 Posts: 109
    Just saw the new specials for Lexus. Good until the end of March. ES 350. Gas only--no money down, 27months, 10,000 miles per. $499 per month. Or-- $3500 down $359 per month. Could be multi wiggle room between the two. :)
  • snowman22snowman22 Posts: 109
    New advertised special--- 2013 Lexus RX 350. Msrp of $47,000. 27 month lease with 10,000 per year---$2100 plus tax down---$429 month. I'm shocked they are already discounting this early in the year. I wonder if the deals will even get better----and why!
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