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2013 and earlier Lexus ES 350 Lease Questions

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  • charliern9charliern9 Posts: 22
    Hello folks,
    Have used this forum for my last couple of Lexus leases and always appreciate and respect the feedback that I've received. My current lease is up in about 3 months and I'm wondering if this is a good time to deal. Again I am in the Atlanta area. My current lease is at $500. and I'd like to stay in that range. I have never had to put any substancial amount down for my former leases so of course I'd hope to do the same this time also. Anyone with any recent deals in my area. I believe this year than ultra package is being offered and that's what I'd want. I can take or leave the NAV. any guidance would be most apreciated!
  • acura_tlacura_tl Posts: 38
    What are the current lease offers for 2010 ES-350? Does anyone have details about the residual value, money factor, etc?
    Thanks.
  • jmartelljmartell Posts: 9
    Hello all! I am also looking for leasing info on the ES350. Are there any areas of negotiation that Lexus typically works with customers on to get favorable lease payments? Is the Money Market Rate around .0019 and the residual value on a 36 month lease approximately 57%? Any help is appreciated!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're very welcome, 10sfan.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    No problem, scottya. The numbers that you mentioned are correct.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Switching brands, acura_tl? Here's the information that you're interested in. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2010 EX 350 with 15,000 miles per year are .00200 and 56%, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi jmartell. Please see my previous post for the information that you're looking for.

    Car_man
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  • jmartelljmartell Posts: 9
    36 month lease with zero down and 10,000 miles.

    IS 250 hard top: $478.60

    ES 350: $539.67

    Any thoughts?
  • acura_tlacura_tl Posts: 38
    Thanks Car_man.
    Yes, my lease on the acura tl is almost up. considering lexus this time. :-)

    Any news on when the 2011 models will be available?
  • mikeyt4mikeyt4 Posts: 5
    my 2008 lease papers do not have a "Money Factor" listed. What is it and how is it used in calculations?

    Has anyone created a spreadsheet on the lease terms from the data provided here by the forum users for the Lexus ES 350? I have pulled about a dozen data cases and have found this:

    Average sell price is 8.5% off of MSRP.
    Residual values running about 60% (of Sell Price).
    MF now down to about .002 (whatever MF is??)

    My 2008 lease papers did not say what Interest Rate was used in calculating the monthly payments, nor has anyone reported it here. It looks to me (by back calculating the Rate from the given data) that it is far higher than it should be. I would expect around 4% in this economy. Is that reasonable?

    One last question. My lease expires 12/26/2010. My 2008 ES 350 probably will have a street value then quite a bit over the $22,000 Residual Value shown in the lease agreement. How can I use this to my advantage when negotiating a new lease?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    edited June 2010
    You're welcome, TL. I haven't heard anything about 2011 Lexus models yet, but Toyota has a number of '11s out there already, including the Camry, Avalon, and Sienna, so one would think that the '11 Lexi (or is it Lexuses :) ) should begin to arrive at dealers relatively soon.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi mikeyt4. It sounds as though you don't fully understand how leases are calculated. You definitely should check out the following informative articles on the subject that are available here at Edmunds.com before you lease your next ride: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    In short, lease payments consist of two parts...depreciation and interest. Manufacturers use money factors to calculate the interest portion of lease payments. Manufacturers publish lease programs for vehicles, consisting of money factors and residual values, on a monthly basis. Dealers must use that program to work up payments for consumers.

    If your leased vehicle is worth significantly more than its lease-end purchase option price, you may be able to use that to your advantage during negotiations or purchase it from the bank that you are leasing through and try to sell it on your own.

    Car_man
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  • blackjack3blackjack3 Posts: 11
    Car_man, any thoughts as to what will happen to Lexus money factor and residual value? I understand they come out with new numbers on July 6.
  • mikeyt4mikeyt4 Posts: 5
    Car Man - I searched the site and found that by multiplying MF by 2400, you get the interest rate. That's all I needed.

    I'm leasing through Lexus. That's all I know and all that the lease papers say. I figured I'd run all the internet sites for automobile values before going back to Lexus. I'm in a position that I could buy it if I had a guaranteed offer from some one else. My residual value on the ES350 is only $22K. I think I could get at $26K for it.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey blackjack3. I believe that Lexus' June program is scheduled to run through July 6th. That means that the new July program won't be available until some time on the 7th. Check back with me then and I'll be happy to fill you in on the details of the new program.

    Car_man
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  • vchadvchad Posts: 97
    Carman, I need some information.

    Could you please provide MF, residual on an 2010 ES350. I am located in michigan. Also are the rates diff in Boston area region? For a car with 36months and either 10 or 12k miles. (going for the car without navi package).

    also i know wrong section, but could you post the identical figures for 10 Rx350 awd.

    thanks a lot carman!!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi vchad. I believe that Lexus' current lease program for the 2010 ES 350 is national.

    Lexus Financial Services' July buy rate lease money factor and residual value for a 36 month lease of a '10 ES 350 with 12,000 miles per year are .00160 and 56%, respectively.

    The numbers for an otherwise identical lease of a 2010 RX 350 AWD without the entertainment system are .00175 and 58%.

    If you were to lease either of these vehicles with only 10,000 miles per year, their residual values would be 1% higher.

    Car_man
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  • vchadvchad Posts: 97
    edited July 2010
    thanks carman, your the best! can't thank you enough for the prompt information!! :shades:
  • charliern9charliern9 Posts: 22
    Hello everyone,
    I am about ready to deal my third consecutive lease on a Lexus ES350. My salesperson has worked with me for the past two leases so I would hope that we have a trusting relationship by now. She quoted me figures for a 36 month lease/10,000 miles of $515. plus tax. The residual value is $19,090 and $1,250 is needed at lease inception which includes first month's payment, tax, tag and title fees. Incidentally she's quoted these figures on an ES with navigation. I guess she didn't remember that my last two ES's didn't have navigation. Unless there is a noticable difference I'll probably go for the navigation this time. Does this sound like a real good deal. Carman I would certainly like to hear from you about this deal. Thanking you so much in advance!
  • mikeyt4mikeyt4 Posts: 5
    Tell me about "Residual Value? My 2008 ES 350 lease has a residual value on it of $22,000. Yet, that model year is listed all over the place here now with a value of $28K - $30K.

    My lease expires in Dec of this year and I want to get the new payment down as low as I can.

    How do I approach this? What barganing chips do I have to get the new payment down?
    Mike (Westside Lexus, Houston TX)
This discussion has been closed.