Hi ghstudio. If you were to lease a 2006 Lexus ES 350 through Lexus Financial Services right now for 24 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00255 and 66%, respectively. The numbers for an otherwise identical 36 month lease should be .00255 and 60%. The numbers for an otherwise identical 39 month lease should be .00255 and 57%. These money factors will vary slightly depending upon what part of the country you are in and they assume that you qualify for LFS' "Tier 1+" credit tier.
I began negotiations on an ES 350 today. I'm a 27 yr old woman and being nervous that I would be taken advantage of by the experienced salesman, I began my search through the dealer's internet sales dept. I emailed the model,trim,and options that I'm interested in. Each quote from the dealer was $1500 below MSRP. According to buyers in other areas, this is good, but I keep thinking of the invoice price, and I just don't want to pay that much. I counter offered with a price of 90% of the MSRP and figured we can take it up from there if needed. I am willing to pay no more than 95% of MSRP. My first question is, do you think this is reasonable of me, or am I wasting my time?
Second question: I plan to lease the vehicle for 36 or 39 months with 15k miles. Do you know the current money factor and residual values?
Third question: Once we settle on a price I'll bring up my trade in. I have calculated that I have $3,000 "negative equity". I am not interested in rolling this over to a new loan. I am willing to pay up to $1500 of it, but any suggestions on how to get the dealer to offer more for the trade? Selling it on my own isn't an option, as that's the only vehicle I have and I can't be without one.
I want to lease a 2007 Lexus ES350 UL Package (approx. 43,000.)for 36 months, 15,000 miles per year, good credit? What is a reasonable monthly payment? What is the residual after three years? I was told in another forum not to put any money down. Originally I wanted to put down 5,000. to keep the payment down. What do you think?
I test drove an ES350 and the salesman offered $500 off MSRP. He said that's the internet sales price right now. I was in Jacksonville Florida. I didn't press because it was just for fun.
Here ya go Mnoker. I found these on another leasing website. I think these are current....
2007 Lexus ES350 4dr Sedan
24 mo/15k mi – Residual Value 66% of MSRP – .00245 Base Money Factor Rate 36 mo/15k mi – Residual Value 60% of MSRP – .00245 Base Money Factor Rate 48 mo/15k mi – Residual Value 50% of MSRP – .00245 Base Money Factor Rate 60 mo/15k mi – Residual Value 41% of MSRP – .00245 Base Money Factor Rate
36 mo/12k mi – Residual Value 62% of MSRP – .00245 Base Money Factor Rate 48 mo/12k mi – Residual Value 52% of MSRP – .00245 Base Money Factor Rate 60 mo/12k mi – Residual Value 43% of MSRP – .00245 Base Money Factor Rate
2007 Lexus ES350 4dr Sedan Ultra Luxury
24 mo/15k mi – Residual Value 66% of MSRP – .00245 Base Money Factor Rate 36 mo/15k mi – Residual Value 60% of MSRP – .00245 Base Money Factor Rate 48 mo/15k mi – Residual Value 50% of MSRP – .00245 Base Money Factor Rate 60 mo/15k mi – Residual Value 41% of MSRP – .00245 Base Money Factor Rate
36 mo/12k mi – Residual Value 62% of MSRP – .00245 Base Money Factor Rate 48 mo/12k mi – Residual Value 52% of MSRP – .00245 Base Money Factor Rate 60 mo/12k mi – Residual Value 43% of MSRP – .00245 Base Money Factor Rate
Hi adriane. I am not personally all that familiar with what the market is like for the '07 Lexus ES 350 right now, but if I was in the market for one I personally would shoot for $1,000 over dealer invoice. Make sure to stop by the following discussion to get additional feedback on how much you should pay for this car right now: "Lexus ES 350: Prices Paid & Buying Experience".
If you were to lease this car through Lexus Financial Services right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00255 and 60%, respectively. The numbers for an otherwise identical 39 month lease should be .00255 and 57%. This is LFS' standard lease money factor for consumers who qualify for its top credit tier. It varies a little depending upon what part of the country one is in.
Your trade is worth what it's worth. If you are getting a good deal on your new car, there won't be much room for the dealer that you are working with to over allow on your trade. If you don't feel as though the price that you are being offered for your trade is fair, you can always sell it yourself or sell it to another dealer, like a local CarMax. You should be able to get an idea of your current vehicle's value by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values".
Hi cablondeblue. I can't tell you what a reasonable monthly payment for this car is without knowing approximately how much you are paying for it. Let me know and I'll run some numbers for you. As far as its residual value goes, if you were to lease an '07 Lexus ES 350 through Lexus Financial Services right now for 36 months with 15,000 miles per year, its residual value should be 60%. It definitely is not a good idea to make a large down payment when leasing. By doing so, you risk losing your money if your car is totaled in an accident or stolen.
I was just wondering where you got these residual values. If you don't mind telling me the website you got them from, I would love to prove to my salesperson that the residual values she's been quoting me have been, as I suspected,low all along.
My dilemma: My cash is tied up in real estate so until I sell should I lease 24 or 36 mo. then pay cash to buy the car at the end of the lease? I keep cars for 5-6 years. 15,000 miles/yr. Would I save more by financing 100% of the purchase for 2 yrs then paying it off? Lease Term Purchase price: $39,000 Residual 24 mos. $25,740 Residual 36 mos. $23,400 Money Factor: .00245 Security deposit: $9000
I managed to catch the very tail end of a TV commercial here in NY about the ES350 and some 'attractive leasing deals'. Did anyone see the commercial or know if there is indeed any leasing deals on the ES? *Not sure if it would be a regional thing.
I look at this quote as just the winning dealership to get me in the door to begin to negotiate. (LOL) Let me know what you think? How much better can I do?
36 Months 15,000 miles MSRP: $43,788.00 Residual Value (60%) $26,272.80 Dealer Cost (Supposedly): $38,563.00 Selling Price: $39,763.00 Total Cap Cost: $40,363.00 Vehicle Mark-up: $1,200.00 Buy Rate (Money Factor): .00275 (I have been quoted .00265 elsewhere but not with the same numbers.) Payment $574.64 + 8.25% Tax + $622.05
I know people don't recommend putting money down but maybe just a little would get the payment down even further.
Also, someone in another forum wrote this: (Let me know your thoughts.)
"One way to go is if your dealer allows you is to make multiple security deposits at signing. What I'm doing is leasing mine at cost, laying out around $5K at signing. $1,500 is out of pocket that I wont be getting back. The remaining money makes up 8 or 9 security deposits. These will be refunded to me when the lease is up. So basically by investing this extra money I will be lowering my payments by almost $100 per month, resulting in about a 20% return on my deposit. It's a good deal if you can afford to lay out the cash for the term of the lease. My monthly payments will be just above $400/mo."
I think that is enough Math questions for one day? (Brain overload) :confuse: LOL
I believe the $1200. is money I bring in at leasing signing. I haven't talked to this salesman about it yet. This is just what he faxed me. The salesman at my local dealership said that he would beat any quote I receive, so I just wanted to know if this was a good quote to beat and if I could do any better.
I was able to use my HP12C many years ago for lease calculations but for the life of me I cannot quite get it right any more (must be age-related). Anybody using an HP12C that can give me the correct key strokes for doing the calcs? (given msrp, sell price, rv, term, etc)
*Or point me somewhere where I can view the user guide which I think has lease examples in it.
Car_man I am in NYC and looking to lease an ES350 for 36 months, 15,000 miles. I really don't want to put anything down except security and first month. I know the money factor is .00245 and the residual is 60%. On the lexus site the MSRP for the following is $37,690.00 (actually $37,685.00) and the TMV on Edmunds is $37,690.00. The package is the Premium package which is High intensity headlamps, heated and ventilated front seats, wood and leather trimmer steering wheel and shift know, bluetooth, FS spare, rear seat airbags. The website includes a delivery process and handling fee of $695.00 to get to the $37,685.00. Price. What would a good lease deal be? Thank you.
Car_Man overlooked my last leasing question I posted over a week ago. Hopefully he will not do the same to yours. I don't think this Leasing Thread is a very popular one or not many people view it. I will be leasing an ES in the next couple weeks or sooner and need all the information I can get.
I spoke to a dealer this morning. Offer was $589.00 per month with taxes in the payments. Car has premium package, sunroof pkg, park assist, wood/leather wheel/ rear A/B, wheel locks, cargo net and all weather mats for MSRP per him of $38,379.00. He told me the Net Cap at $37,579.00. TMV said vehicle would not go under MSRP. Think I also can get him down prob $10-15 per month to close the deal. Lease is 36 months, 15K miles
Wow! I think that is pretty good. I am going for the UL Package so the numbers are going to be different. I would recommend getting some other quotes in writing from other dealerships. You may receive a better offer. Go back to the dealer that is closest to you and see if they will beat it.
You? I am down right embarrassed at how I have been going back and forth with picking a color. I don't even post half of the turmoil I have been going though in the main thread because people would think I am nuts.
So here's the deal I did this afternoon. 2007 ES with NAV, and Premium package. MSRP was about $40,300. Sell price was about $39,600/ With 1400 out of pocket, 36 months comes to $608.00 per month with 8.375% tax in the payments. Up front is bank fee, ($600), MV and plates, reg and first month. No security. Getting 15,000 miles. Got black on black. Money factor was .00161. Think I got a pretty good deal - Car_man?
Wow, a money factor of .00161? What is that...an interest rate of 3.8? (If I calculated that right.) How can that be. You must have amazing credit to get it that low.
So last time I chatted with you this morning, you were thinking of leasing the SUV. LOL What happened? You moved in pretty fast on that one.
Yes, how is that possible? Even for returning LFS customers the money factor was .00255 (that was before July 1st, I think they have gone up since then). Also, the residuals were to have gone up on July 1st.
I don't know how the money factor was so low. I told him that I had a dealer in NJ for 589.00 per month with same out of pocket (for a non-NAV). I guess he just wanted to get the deal done. It was with a very reputable dealer on Long Island. Regarding the SUV, I sat in it and my right arm fell off the armrest. I know it may sound like a small thing but in a truck that costs $43K the armrest should be wide enough to not have this happen to a driver who is 6 feet tall and 220lbs. Stupid as it sounds, I got in the truck several times and made sure that I was centered in the seat and each time, my arm fell off toward the middle of the car. After that, I did not want it. Hopefully, I will be picking up the car on Thursday or Friday. I really can't wait and am much more excited than I was for my 2004 Acura TL (that was totalled while parked last Thursday night thanks to some idiot) :shades:
Newkid, sorry about what happened to your TL. Talk about freak accidents! I agree with you about that silly armrest on the RX SUV. I also am interested in that vehicle from Lexus. What's with that style of armrest anyway? Those are usually found on minivans, not SUV's. I wish Lexus would just redesign the center console higher up to also be used as an armrest instead of that hideous armrest connected to the seat. I think the GX SUV has this also.
Lexus, if any of you are listening, get rid of those silly armrests!!!
I just used Excel software to create a spreadsheet that calculates the entire formula for me. I put in several scenarios and printed them out. That way I am not fumbling with my calculator and trying to keep up with all the numbers they throw at me.
I have to appear like I know what I am doing in there, you know.
Now you have me curious about these mysterious armrests. What are they sloped inward? LOL. Even though I am not interested in the SUV, the next time I go to the dealer, I will have to try them out.
Ok, here's the quote I received from a LI NY dealer (it was valid as of 6/30/2006): Premium package, 36 months 12k miles, msrp of 37400, sell for 35425, payment of $489.
What do you all think? Also, does anyone know the current money factor from LFS (it was .00255)
I am getting ready to lease ES350 UL. Several questions:
What is the money factor (Excellent credit) and can that vary by dealer and region? What additional fees should I be expected to pay and which can I negotiate out? Is doc. fee and acquisition fee the same thing? Can I pay the taxes and additional fees up front instead of putting them in my lease payment? Not sure I will want to do that, just asking? Is this not a good idea? I'd like to keep payment down. I got a quote of$1000 off sticker price of $44,044. They've had one UL at my dealership since they introduced the ES. Based on my lease calculations thru Edmunds I come up with a payment of about $676 including the tax. Money factor of .00255 Residual of 60% No extra money down
This seems rather low compared to others. Am I figuring something incorrectly?
I recently posted my deal with my money factor of .00161 which is accurate. however, the dealer used Toyota Motor Credit Corporation, not LFS. Good idea to get the payments down. I have read in here that he LFS money factor is .00225.(5.4% as opposed to my 3.864%)
I came up with a monthly payment of $691.43. I did it for 36 months (you did not specify) and calculated the tax in my state (CA) which is .0825. Not sure what state you are in. I did it first on a calculator and then on my spreadsheet to double check my work.
So when are you going to make your move? Seems like you and I are one of the few left that have not purchased yet.
If Newkid and I are thinking of the same thing, the armrest on the RX is attached to the seatback. For instance, if you're in the driver's seat, it's attached to the side of your seatback on your right. It can also be raised up, which helps somewhat, but I'm used to having the center consoles in my cars high up enough that I can rest my elbow on that, particularly on longer trips. The RX center console doesn't sit up high, it only slides backwards and forwards. That's how the mini-van picture comes to my mind because I believe mini-vans have these armrests; if not on the front seats, in the back seats if they have captain's chairs.
By the way, the lease support for the RX350 seems to be very aggressive here in the Tampa Bay Area.
Sammys, I'm definitely liking your monthly payment on that lease, but could you tell me what your drive-off costs will be for that particular lease? Thanks.
Cablondeblue, Yes, Ruby/Cashmere-personally I just think that color is awesome on this car. Never have I seen another color like it. Anyway, yes I did calculate at 36 months, 15,000 miles and our sales tax is 6% in Kentucky. I too am in real estate and feel I really need the extra miles. I plan on getting the car as soon as they locate one, they say the lates would be mid August, but might be able to redirect one here in the next couple of weeks. Hmmm... thought they weren't making this color anymore in the UL. Found out they just aren't making it right NOW in that color and several others. Very confusing. Who to believe? I plan to bring in my calculations when I do lease so that they don't add anything onto my payment. Never did hear from anybody - What fees, etc. should I not pay??
Not too sure about the fees. I am quoting from Edmunds.com....."Most leases require about $1,000 in "drive-off fees." Some of this money is loan initiation, some of it is security deposit and some goes toward the down payment." (If you choose to put money down.)
In researching a little further, there may be an Acquisition fee of approximately 500.00 and then Title and Registration fees.
Just make sure they don't tack on a conversation fee or some BS like that.
Welcome newkid300. This car's lease payment will depend upon what sort of discount you are able to negotiate. The ES 350 has been selling very well lately, but I am not sure what sort of discount dealers are providing on it in your area. The good news for you is that there is likely a ton of Lexus dealers in the New York metropolitan area. You should be able to get an idea of how much you will have to pay for this car by visiting the following discussion: "Lexus ES 350: Prices Paid & Buying Experience". Once you have an approximate selling price and I can estimate what this car's lease payment will be for you. By the way, the money factor and residual that you mentioned look about right to me.
Congratulations on your new car, newkid300. While a $700 discount is not huge, I am not surprised that is all you were given, given how well the ES 350 is selling right now. You can always stop by the following discussion to compare the price that you paid for this car to what others have paid for one recently: "Lexus ES 350: Prices Paid & Buying Experience". The money factor that you were given is certainly attractive. Is it through Lexus Financial Services? I didn't think that Lexus was providing any sort of money factor support on the '07 ES 350 right now.
Hi SammyS. The money factor that you were quoted for this car is correct for a 36 month lease of it through Lexus Financial Services right now. The selling price that you were offered looks reasonable as well. You are being given a discount of nearly $2,000 on a car that is selling very well right now. So the two main profit centers for dealers look good to me.
Hi robynl. According to the latest information that I have seen, Lexus is not currently provising any sort of lease support on the 2007 ES 350. This would make sense, given how well it has been selling lately. If this is the case and you were to lease this car through Lexus Financial Services right now, you would have to use its standard lease money factor. This factor varies a little depending upon what part of the country one is in, but it should be around .00255 for consumers who qualify for LFS' top credit tier. As far as what fees you should pay go, at lease signing you will be asked to pay your car's first month's payment, LFS' $600 acquisition fee, and any required state taxes or fees. Most banks require consumers to pay a security deposit at lease signing as well, but Lexus Financial Services waives its security deposit requirement for all consumers who qualify for its top two credit tiers. Doc fees and acquisition fees are not the same thing. Acquisition fees are charged by banks that lease vehicles and individual dealers do not have the ability to waive them. Doc fees on the other hand are essentially a way for dealers to pad their profits.
I just double checked the payment that you calculated, and according to my calculations if you were to lease a 2007 Lexus ES 360 with an MSRP of $44,044 and a selling price of $43,044 through LFS right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $639.
Thanks so much for the information. I calculated the same that you came up with but at 15,000 miles. Where did I go wrong? I based the calculations on a residual value of $26426. Is that too high?
You're very welcome, Robyn. Vehicles' residual values are always based upon a percentage of their full MSRPs, including the destination charge. The residual value for this particular lease would be 58% of $44,044, or $25,546. This may be where you made your mistake.
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Car_man
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I began negotiations on an ES 350 today. I'm a 27 yr old woman and being nervous that I would be taken advantage of by the experienced salesman, I began my search through the dealer's internet sales dept. I emailed the model,trim,and options that I'm interested in. Each quote from the dealer was $1500 below MSRP. According to buyers in other areas, this is good, but I keep thinking of the invoice price, and I just don't want to pay that much. I counter offered with a price of 90% of the MSRP and figured we can take it up from there if needed. I am willing to pay no more than 95% of MSRP. My first question is, do you think this is reasonable of me, or am I wasting my time?
Second question: I plan to lease the vehicle for 36 or 39 months with 15k miles. Do you know the current money factor and residual values?
Third question: Once we settle on a price I'll bring up my trade in. I have calculated that I have $3,000 "negative equity". I am not interested in rolling this over to a new loan. I am willing to pay up to $1500 of it, but any suggestions on how to get the dealer to offer more for the trade? Selling it on my own isn't an option, as that's the only vehicle I have and I can't be without one.
Thanks in advance for your help.
2007 Lexus ES350 4dr Sedan
24 mo/15k mi – Residual Value 66% of MSRP – .00245 Base Money Factor Rate
36 mo/15k mi – Residual Value 60% of MSRP – .00245 Base Money Factor Rate
48 mo/15k mi – Residual Value 50% of MSRP – .00245 Base Money Factor Rate
60 mo/15k mi – Residual Value 41% of MSRP – .00245 Base Money Factor Rate
36 mo/12k mi – Residual Value 62% of MSRP – .00245 Base Money Factor Rate
48 mo/12k mi – Residual Value 52% of MSRP – .00245 Base Money Factor Rate
60 mo/12k mi – Residual Value 43% of MSRP – .00245 Base Money Factor Rate
2007 Lexus ES350 4dr Sedan Ultra Luxury
24 mo/15k mi – Residual Value 66% of MSRP – .00245 Base Money Factor Rate
36 mo/15k mi – Residual Value 60% of MSRP – .00245 Base Money Factor Rate
48 mo/15k mi – Residual Value 50% of MSRP – .00245 Base Money Factor Rate
60 mo/15k mi – Residual Value 41% of MSRP – .00245 Base Money Factor Rate
36 mo/12k mi – Residual Value 62% of MSRP – .00245 Base Money Factor Rate
48 mo/12k mi – Residual Value 52% of MSRP – .00245 Base Money Factor Rate
60 mo/12k mi – Residual Value 43% of MSRP – .00245 Base Money Factor Rate
Enjoy
Slate
If you were to lease this car through Lexus Financial Services right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value should be .00255 and 60%, respectively. The numbers for an otherwise identical 39 month lease should be .00255 and 57%. This is LFS' standard lease money factor for consumers who qualify for its top credit tier. It varies a little depending upon what part of the country one is in.
Your trade is worth what it's worth. If you are getting a good deal on your new car, there won't be much room for the dealer that you are working with to over allow on your trade. If you don't feel as though the price that you are being offered for your trade is fair, you can always sell it yourself or sell it to another dealer, like a local CarMax. You should be able to get an idea of your current vehicle's value by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values".
Car_man
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Car_man
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forthill
I was just wondering where you got these residual values. If you don't mind telling me the website you got them from, I would love to prove to my salesperson that the residual values she's been quoting me have been, as I suspected,low all along.
Surprise, surprise.
G
forthill
My cash is tied up in real estate so until I sell should I lease 24 or 36 mo. then pay cash to buy the car at the end of the lease? I keep cars for 5-6 years. 15,000 miles/yr.
Would I save more by financing 100% of the purchase for 2 yrs then paying it off?
Lease Term
Purchase price: $39,000
Residual 24 mos. $25,740
Residual 36 mos. $23,400
Money Factor: .00245
Security deposit: $9000
Thanks,
forthill
36 Months
15,000 miles
MSRP: $43,788.00
Residual Value (60%) $26,272.80
Dealer Cost (Supposedly): $38,563.00
Selling Price: $39,763.00
Total Cap Cost: $40,363.00
Vehicle Mark-up: $1,200.00
Buy Rate (Money Factor): .00275 (I have been quoted .00265 elsewhere but not with the same numbers.)
Payment $574.64 + 8.25% Tax + $622.05
I know people don't recommend putting money down but maybe just a little would get the payment down even further.
Also, someone in another forum wrote this: (Let me know your thoughts.)
"One way to go is if your dealer allows you is to make multiple security deposits at signing. What I'm doing is leasing mine at cost, laying out around $5K at signing. $1,500 is out of pocket that I wont be getting back. The remaining money makes up 8 or 9 security deposits. These will be refunded to me when the lease is up. So basically by investing this extra money I will be lowering my payments by almost $100 per month, resulting in about a 20% return on my deposit. It's a good deal if you can afford to lay out the cash for the term of the lease. My monthly payments will be just above $400/mo."
I think that is enough Math questions for one day? (Brain overload) :confuse: LOL
mark-up is. Maybe you could negotiate that
part out? Also, is this with $0 down?
*Or point me somewhere where I can view the user guide which I think has lease examples in it.
Thanks!
forthill
http://www.edmunds.com/advice/leasing/articles/48365/article.html
It took me a while but I think I have master it. I also put it on a spread sheet so that it calculates the payment for me.
On the lexus site the MSRP for the following is $37,690.00 (actually $37,685.00) and the TMV on Edmunds is $37,690.00.
The package is the Premium package which is
High intensity headlamps, heated and ventilated front seats, wood and leather trimmer steering wheel and shift know, bluetooth, FS spare, rear seat airbags.
The website includes a delivery process and handling fee of $695.00 to get to the $37,685.00. Price. What would a good lease deal be? Thank you.
I spoke to a dealer this morning. Offer was $589.00 per month with taxes in the payments. Car has premium package, sunroof pkg, park assist, wood/leather wheel/ rear A/B, wheel locks, cargo net and all weather mats for MSRP per him of $38,379.00. He told me the Net Cap at $37,579.00. TMV said vehicle would not go under MSRP. Think I also can get him down prob $10-15 per month to close the deal. Lease is 36 months, 15K miles
Thanks for your response. I feel loved again. LOL
So last time I chatted with you this morning, you were thinking of leasing the SUV. LOL What happened? You moved in pretty fast on that one.
Black on Black. Nice!
Also, the residuals were to have gone up on July 1st.
forthill
What is the easiest way to back into the dealers selling price if I know everything, including monthly payment?
I know the RV % and amount, money factor, term, msrp.
Does anyone have, or know of, a spreadsheet available where I might just plug in numbers to see the affect?
Thanks!
SammyS
TL. Talk about freak accidents!
I agree with you about that silly armrest on
the RX SUV. I also am interested in that
vehicle from Lexus. What's with that style
of armrest anyway? Those are usually found
on minivans, not SUV's. I wish Lexus would
just redesign the center console higher up
to also be used as an armrest instead of that
hideous armrest connected to the seat. I
think the GX SUV has this also.
Lexus, if any of you are listening, get rid
of those silly armrests!!!
I just used Excel software to create a spreadsheet that calculates the entire formula for me. I put in several scenarios and printed them out. That way I am not fumbling with my calculator and trying to keep up with all the numbers they throw at me.
I have to appear like I know what I am doing in there, you know.
:shades:
Premium package, 36 months 12k miles, msrp of 37400, sell for 35425, payment of $489.
What do you all think?
Also, does anyone know the current money factor from LFS (it was .00255)
SammyS
What is the money factor (Excellent credit) and can that vary by dealer and region?
What additional fees should I be expected to pay and which can I negotiate out? Is doc. fee and acquisition fee the same thing?
Can I pay the taxes and additional fees up front instead of putting them in my lease payment? Not sure I will want to do that, just asking? Is this not a good idea? I'd like to keep payment down.
I got a quote of$1000 off sticker price of $44,044. They've had one UL at my dealership since they introduced the ES.
Based on my lease calculations thru Edmunds I come up with a payment of about $676 including the tax.
Money factor of .00255
Residual of 60%
No extra money down
This seems rather low compared to others. Am I figuring something incorrectly?
I came up with a monthly payment of $691.43. I did it for 36 months (you did not specify) and calculated the tax in my state (CA) which is .0825. Not sure what state you are in. I did it first on a calculator and then on my spreadsheet to double check my work.
So when are you going to make your move? Seems like you and I are one of the few left that have not purchased yet.
Royal Ruby, right?
thing, the armrest on the RX is attached to
the seatback. For instance, if you're in the
driver's seat, it's attached to the side of
your seatback on your right. It can also be
raised up, which helps somewhat, but I'm used
to having the center consoles in my cars high
up enough that I can rest my elbow on that,
particularly on longer trips. The RX center
console doesn't sit up high, it only slides
backwards and forwards.
That's how the mini-van picture comes to my
mind because I believe mini-vans have these
armrests; if not on the front seats, in the
back seats if they have captain's chairs.
By the way, the lease support for the RX350
seems to be very aggressive here in the Tampa
Bay Area.
payment on that lease, but could you tell me
what your drive-off costs will be for that
particular lease? Thanks.
0 security dep
1364.31 NY sales tax
600 bank fee
399 dealer conveyance fee
155 plates and reg
3007.31 = drive-off
Yes, Ruby/Cashmere-personally I just think that color is awesome on this car. Never have I seen another color like it. Anyway, yes I did calculate at 36 months, 15,000 miles and our sales tax is 6% in Kentucky. I too am in real estate and feel I really need the extra miles.
I plan on getting the car as soon as they locate one, they say the lates would be mid August, but might be able to redirect one here in the next couple of weeks. Hmmm... thought they weren't making this color anymore in the UL. Found out they just aren't making it right NOW in that color and several others. Very confusing. Who to believe?
I plan to bring in my calculations when I do lease so that they don't add anything onto my payment.
Never did hear from anybody - What fees, etc. should I not pay??
In researching a little further, there may be an Acquisition fee of approximately 500.00 and then Title and Registration fees.
Just make sure they don't tack on a conversation fee or some BS like that.
Good Luck!
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I just double checked the payment that you calculated, and according to my calculations if you were to lease a 2007 Lexus ES 360 with an MSRP of $44,044 and a selling price of $43,044 through LFS right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $639.
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