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Lexus LS 460 Prices Paid and Buying Experience

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Comments

  • topgun7topgun7 Posts: 412
    "Either way, do I have any realistic chance of making a deal that will keep my monthly payment under $1K without making a down payment? I've read about those prepaid multiple security deposits and wonder whether that is a sensible tactic. "

    I am in a similar boat. Our 05 CLK55 is going off lease on 7/3 and we test drove an LS460 and is pretty impressed about it.. based on last month money factor and residual in April, there is a shot of getting LS below 1000 month including sales tax for 3 yr 12K lease (in California, sales tax are paid monthly and calculated based on monthly payment) with Comfort and ML/NAV package. But you pretty much have to get the car very near invoice and pay 9 security deposit to reduce the money factor by 0.00072 (roughly 1.7%) from the 0.00225 (or roughly 5.4%) that LFS is charging. The wild card is whether the May progarm has any change (e.g. the residual value) and it is going to be pretty tough to get invoice in NYC since the competition in NYC is not nearly as good as California or FL...

    http://mbworld.org/forums/showthread.php?t=229109

    2008 Lexus LS460 – 4/12/08
    24 Month – Residual 56% of MSRP – .00225 Base Rate
    36 Month – Residual 50% of MSRP – .00225 Base Rate
    48 Month – Residual 40% of MSRP – .00225 Base Rate
    60 Month – Residual 31% of MSRP – .00225 Base Rate

    Residuals posted are for 15K miles/year. Add 2% to Residual for 12k mi/yr and 3% for 10k mi/yr on all terms
  • bermanslawbermanslaw Posts: 6
    Thanks, Topgun. Without doing the math, I should think that plunking down $9K plus or minus in the form of multiple security deposits will save me considerably more than I can earn on that sum over the lease term. I'm going to stop in and stick my toe in local waters to see what sort of initial deals are being offerred, and I'll follow up with this forum to share my experience.

    Is there anyone else out there who has anything to say in reply to my original inquiry?
  • sidgriggssidgriggs Posts: 122
    In reply to bermanslaws original post:
    Lexus sales are off. My dealer (Texas) is loaded with cars and dealing. It is probably the same where you live. Lexus will do a 10,000 mile per year lease. If I were you, I would shop all the dealers within reasonable driving distance. I would start now, with plans to make my deal on May30 or 31. Base car min disc=6,000,
    Nav car min disc=7,000; Nav, ML,++ car min disc=8,000. Lease with Lexus Financial, 10,000 mile s/b able to do for under $1,000 per month if you pay the sales tax, etc up front. They may even have tax credits this month.
  • redsailredsail Posts: 1
    Go to this site and they have all the info for importing into Canada.
    www.ucanimport.com
  • ocautoseekerocautoseeker Posts: 425
    May lease rates and residuals did NOT change for May.

    If you decided to lease an LS460 priced between $68-$69k, you'd be able to get close to that $1000/mo payment you inquired about.

    Assuming an MSRP of $68,305 (common list price of LS's in your area), factoring in a "better than average" selling price/cap cost of $61,805 (about $2k over invoice/$6500 discount from MSRP)...

    *36/10k - ~ $935/mo + tax
    *48/10k - ~ $885/mo + tax

    * Sample payments based on current LFS lease rates and residual values.

    My recommendation for you would be to lease this vehicle. Why? You mentioned that you just came out of a long-term lease in a Mercedes and loved it. Lease the LS for a few years and see if you like it - if not, walk away at lease-end and go back to a Merc, or try another brand.
  • bermanslawbermanslaw Posts: 6
    Your suggestion regarding lease vversus purchase is well taken. I especially appreciate your having included some hard number parameters. As I said in reply to another comment, I'm going to visit a few local dealers soon, armed with this helpful data.

    I do have a lingering question, though, which I mentioned in my first inquiry:
    Is there anything to be gained (or lost) by waiting til summer, since I barely have need of a car til September? Between the price of a Manhattan garage, the cost of insurance and the monthly lease payment, I'd save > $2K/mo. in July & August if I just wait to take delivery of a replacement for my MB. It occurs to me that selection may become an issue the closer we get to the '09 rollout, but it seems like otherwise I might just be better off waiting. I'm ready to move quickly or wait, depending on what your take might be.
  • ocautoseekerocautoseeker Posts: 425
    Oh I think you can get a better deal than what I posted - I just used a modest discount to illustrate the payment structure. Mid-late summer when dealer's are trying to clear out their remaining '08 inventories will definitely be a great time to buy/lease.

    My opinion, since you're in a current lease, wait 'til about a month before that expires, then start looking for your new vehicle and revisit us here on the forums to discuss pricing and negotiation tips.

    A great deal can still be had now, but why pay those additional expenses you mentioned for the next 3-4 months, when just as good if not a better deal can be obtained in August or September.
  • bermanslawbermanslaw Posts: 6
    I will proceed as you suggest. Thanks again to you and those others whose invaluable advice I intend to follow. Stay tuned.
  • jaibeejaibee Posts: 8
    There certainly are a large number of dealers who have a fee which can run into several hundred dollars per car. $599 to $699 is not unusual. There is a dealer in Ft. Myers who doesn't charge any dealer fee. Great people to deal with and a good selection of cars.

    I just bought my third LS there. And from the same people. It is Scanlon Ft. Myers Lexus and they are a long time Elite dealer. Consider them if you want to buy a Lexus.
  • topgun7topgun7 Posts: 412
    "Is there anything to be gained (or lost) by waiting til summer, since I barely have need of a car til September?"

    It really depend. If you click on the link that give the money factor and residual for April number, there is a formular to calculate lease payment. There are 4 factors that affect the lease payment (1) cap cost (the price we negotiate to get the car) (2) residual (3) mony factor (4) acquisition fee + document fee etc. etc..(It is part of the negotiation other than the acquisition cost that Lexus charge which is not negotiable)

    Cap cost is more supply and demand dependent in a local area. Waiting may or may not help. One thing to note is that if you are already getting close to invoice, there is not much room for dealer to move unless they are desperate or there is some rebate from manufacturer (like month end or quarter end and they need to make some sales target).

    Residual actually move lower over the year. Each month LFS will lower the residual to account for the lower residual percentage (so at the beginning of the model year residual is at the highest and just right before rolling over to the next model year is the lowest. Sometime it can be 3-5% difference....)

    Money factor change every month depending on whether LFS wants to promote the car. Sometimes you will see LFS moving down both residual and money factor from one month to the other to compensate each other and make the monthly payment more or less the same..

    There seems to be 3 different times slot in a years that is best for shopping lease. The first one is at the beginning of the model year when the residual is highest (providing that it is not a hot car..) and hopefully the money factor is reasonable. The second one is in December when Lexus want to move the car and run the December to remember promotion with low money factor and something artificially high residual (and dealer are more willing to deal since they have to close the book for the year as well). The third one is at the end of the model year, when they really need to move the old model year out before the new model year come. So the money factor and deal are the best...

    My plan is to wait and see what Lexus offer for 08 in July/Aug in term of lease deal. If nothing interesting that I will wait until 09 come.. Worse come to worse, December will be the month to pick up an LS..

    P.S. The security deposit probably give you about 8%-9% annual return in the form of reduce monthly payment. Given that it is more or less guarantee (assuming that you trust youselve in making the paymenet), it is a pretty good deal
  • msymanmsyman Posts: 25
    I found a used 2008 LS460 with the "Comfort Package" but no navigation system. The vehicle was first used in Dec 2007 and has around 1400 miles on it. The dealer was asking $61,900 but said they will take $58,500. Given that the vehicle is used (albeit slightly) and the warranty has lost almost 6 months, isn't $58,500 too high? The invoice price for a brand new one is around $55k. How do you determine what is the least the dealer may selt it for?
  • bmlexusbmlexus Posts: 755
    Lexus is celebrating a double victory at the 2008 Fleet World Honours taking home the Security Award and for the second year in a row, the Best Luxury Car for the Lexus LS.

    The Security Award reflects that Lexus pays the most attention to detail when it comes providing the highest level of protection against theft of its vehicles.

    Ken Rogers, Fleet World editor said: “The Lexus LS stands above its worthy competitors simply because it is such a quality product, manufactured to the highest standards. No longer the new kid on the block, Lexus has nothing more to prove.”
  • georget3georget3 Posts: 53
    traube:

    Congratulations on your LS460 at a great price. What color did you get? How was the shipping?

    I got a quote from Ray Catena/NYC MSRP $68,414, Sales $63,000, as you said $5000 off.

    I wonder if anyone can recommend another dealer in North East tri-state that can take it down to $8000 off?
  • georget3georget3 Posts: 53
    Are you saying you got $11000 off MSRP?
  • ldftxldftx Posts: 1
    Where can we find the best deal for a LS 460 in the DFW area? We have been quoted 61,190 for the base model with only the comfort package. How much over invoice should we be paying? Does anyone know what the invoice is for this package? Some negotiating advice would be greatly appreciated.
  • wabendswabends Posts: 102
    According Lexus.com, the MSRP for base SWB with comfort package is $64950 (including destination charges). The LWB should have the comfort package as standard.
  • sidgriggssidgriggs Posts: 122
    PM me and I will tell you who to see at Park Place Plano for the best deal. My email address can be found by double clicking my name
  • djay5djay5 Posts: 6
    I just purchased a new '08 LS460 in the Atlanta area. MSRP was $72,435, and paid $63,000 including all dealer fees. Black/Cashmere. Nav/ML/Auto Parl/Int. Park/ Comfort Pkg/Access. Package included. Pretty happy with that deal.
  • wabendswabends Posts: 102
    Congrats, that is a very good price. 14% off MRSP!

    Does the dealer fees include tag, tax and title? If so, this is a steal.

    Enjoy!
  • msymanmsyman Posts: 25
    Who did you deal with in Atlanta ? If you don't want to post, please PM me, thanks.
  • djay5djay5 Posts: 6
    Included Dealer doc fees... not taxes and title fees.
  • djay5djay5 Posts: 6
    Sent you a PM.
  • bmlexusbmlexus Posts: 755
    Congrats.

    Care to tell how your feeling with the car and good parts or bad want to share.
  • that's a steal!!!! I got mine same price w/out the auto park....you got the 460L right?
  • bmlexusbmlexus Posts: 755
    U wrote only LS460 ;)
  • georget3georget3 Posts: 53
    Hi, djay5:

    Congrats on your purchase at a "steal" price. I am in NYC region and in final stage of buying a 2008 LS460. I'd appreciate if you could pm me ([email protected]):

    1. Name and contact of your dealer.
    2. Details of your car, including miles on the car.

    Thanks in advance,
    George
  • djay5djay5 Posts: 6
    I car I bought is a 2008 LS460.... not an L.
    Details are Black (Obsidian)/ Cashmere... <15 miles on Odometer,brand spankin' new... Navigation/Mark Levinson/Advanced Park, Intuiive Park, Once Touch Open/Close, Preferred Access. Package. MSRP $72,435
    My Net Sale price included $795 Destination charge, and $599 dealer fees.
    Just needed to add state sales tax and $42 state doc fees.
  • kwb1kwb1 Posts: 1
    would you tell me the dealer you purchased from in Atlanta? e/m [email protected] I am in the mkt for a 2008 swb with ML
    thanks
  • pmarshpmarsh Posts: 3
    djay5 -- I, too, would like the name of the dealer in Atlanta if it's not too much trouble. You can email me at [email protected]

    Thanks for your time and info!
  • a8man1a8man1 Posts: 23
    Awesome deal djay5, please post dealer info so others can benefit as well!
    I saw one with similar color combo, looks sharp, enjoy your LS!
  • djay5djay5 Posts: 6
    Sent PM to those that asked re: dealer name. Good luck. Thanks.
  • a8man1a8man1 Posts: 23
    please pm me as well with dealer info to nikramATgmailDOTcom. Thanks!
  • please pm me as well dealer name and contact person....they'll probably get a ton of business now!
  • djay5djay5 Posts: 6
    Please leave your email if you want me to PM. Thx
  • msymanmsyman Posts: 25
    Does anyone know the invoice price of the $68,305 model (NAV but without ML) ?
    One dealer has offered it to me for $60,500, but if the ML ($72,435) can be had for $63k shouldn't I be able to get the $68,305 version for less?
  • please pm to [email protected] .....thanks
  • atifatif Posts: 6
    Djay

    I was wondering if you can get me the dealer info as well.

    dratifk gmail.com

    thanks
  • msymanmsyman Posts: 25
    ocautoseeker:

    I am looking at a 2008 LS460 with 5,200 miles. It was registered and traded in. Asking price is $63,900. It has NAV, but no ML. So original MSRP would be in the $68,305 range and invoice around $60k. Would you suggest deducting .40 per mile from the invoice price or now that it is June, should this car be treated as an almost one year old and deduct 20-25% off MSRP? Thank you for your advice.
  • ocautoseekerocautoseeker Posts: 425
    Tough call - where do you live? That would help give me a better perspective on your market conditions.
  • atifatif Posts: 6
    Was wondering if anyone wanted to get togethor and try and get this car for 63K plus doc fees and taxes. I live in upstate NY but would be willing to buy from dealer as far as Atlanta (my Sis lives there). My time fram is July/August. If interested email dratifk gmail.com. I'm looking at the same config as djay5
  • msymanmsyman Posts: 25
    I live in Louisiana, but one vehicle is in Florida and another in Buffalo, NY
  • atifatif Posts: 6
    got my local Rochester dealer to accept $63,349.00 plus sales tax and Doc fees. VIN # JTHBL46F385078059

    Model:
    LS 460
    Year:
    2008
    Interior Color:
    Black Leather Trim with Medium Brown Walnut Accent

    Exterior Color:
    BLACK

    Base MSRP*:
    $62,900.00

    Delivery, Processing & Handling Fee**:
    $765.00

    Available Package:
    $8,770.00

    Navigation System/Mark Levinson® Premium Audio System/Advanced Parking Guidance System Package with Additional Options
    Navigation System/Mark Levinson® Premium Audio System/Advanced Parking Guidance System Package, Comfort Package, Intuitive Parking Assist, Power door closers and power rear trunk, Preferred Accessory Package (includes Cargo net, Trunk mat and Wheel locks)

    Accessory Options:

    Comfort Package:
    Included

    Intuitive Parking Assist:

    Included

    Power door closers and power rear trunk:
    Included

    Preferred Accessory Package (includes Cargo net, Trunk mat and Wheel locks):
    Included

    Trunk mat:
    Included

    Wheel locks:
    Included

    Cargo net:
    Included

    Total MSRP**:
    $72,435.00
  • atifatif Posts: 6
    OK Just sealed the deal. Total with tax and all fees was 68K and change. No hidden fees and painless purchase. They had the exact car I wanted on its way already to the dealership. Tax was 8%. $100 Lic transfer fee, $15 tire recycling fee no docoment messenger fee and nothing major sliped in. Put 20K down and finianced 3 years at 4.1% interest. Car should be in in 10 days or so.

    Thanks everyone for your help. Time to start reding the Nav Bypass thread at club Lexus.
  • ocautoseekerocautoseeker Posts: 425
    I don't have any '08 information from Mannheim to report (for obvious reasons), but based on '07 Mannheim prices, they (LS460 swb) are selling between $51-$57k (based on condition and mileage). These prices do not include run/sell, transportation or any other associated fees with the auction.

    A lot will depend on how much the dealer took that vehicle in at, how long it's been on the lot, etc...

    I'd suggest starting your bids around $54k and emphasize that the vehicle has taken the hardest depreciataion hit in the first year. Expect them to say something like, "we're in the car for way more than that."

    The vehicle has a projected wholesale value of ~50% after 3 years, so you're asking for roughly 20% off, which is not unrealistic, but they have to be willing.
  • msymanmsyman Posts: 25
    From the Wall Street Journal:

    "Lexus division sales fell 17% to 26,593, led by a 18% slump in cars."
  • djay5, please PM me at [email protected] with this information as I am in the process of relocating to Atlanta within a few weeks. :shades:
  • Just bought a LS 460 SWB MSRP $75K package for $65,350.00
    about $9650.00 off MSRP. 14 Miles on the ODM.

    $71,300.00 OTD in So. Cal

    Smokey / Black
    ML/NAV/Advance Parking
    Comfort Plus
    Lexus Link
    Intuitive Park Assist
    Automatic Power Door
    Rear Bumper decal
    Premium Floor Mats
    Accessories

    Dealer was very agressive.
  • I want to buy a new 2008 LS460 (SWB). I want a black exterior. Prefer a cashmere or light interior but will accept gray. I have zero interest in any options except the Comfort Plus package (to get the rear seat side airbags - I have small children). I'm in Dallas, but can go elsewhere for the car. I'm in no rush at all - I can easily wait 6 months or more. I will pay cash. I don't want a car with any significant mileage (no demonstrators). I plan to go to a local Lexus dealership soon to start the purchase process, although the dealership visit is more to ask the questions below. I would expect to do the deal by internet.

    What are the chances of ordering the car I want from the factory, and will that affect my ability to get a good price? If it's too late in the model year to order from the factory, how do I find a car that has the Comfort Plus package somewhere in the U.S.? The Lexus site indicates that the Comfort Plus package is not available in Dallas or several other areas I checked.

    Anyone know someone good I can talk to at either Park Place Dallas/Grapevine or Sewell Dallas?

    As to pricing, can I expect to pay about $10,000 below MSRP, and then add in TTL? I would think Lexus sales are hurting these days and we are close to the end of the model year? In other words, what would be a good deal at the end of July or August? Any info on this would be appreciated.
  • sidgriggssidgriggs Posts: 122
    I have a friend at Park Place who will shoot straignt with you. Send me an email and I will set-up a referral with him.
  • topgun7topgun7 Posts: 412
    "I'm in Dallas, but can go elsewhere for the car. I'm in no rush at all - I can easily wait 6 months or more."

    Your best bet is to shop in S. Cal and either drive the car back or ship it to Dallas. Paying cash or not don't make any difference to the dealer (if anything, it is negative for the dealer since they don't have another opportunity to make some money). Price are determined by supply and demand. If you only have one dealership in town, you will only get the price that they want you to have. In So Cal, there are tons of Lexus dealers within driving distance so there is a lot of good deal. May be combine a shopping trip with a family Disney vacation... good luck.
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