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Lexus LS 460 Lease Questions
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Car_man
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Car_man
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Car_man
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Car_man
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I have been trying to get residuals and money factors for '09 ES350. We are in the South Florida market. Any help will be appreciated.
Car_man
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http://www.swapalease.com/VehicleSearch/VehicleDtlL.asp?year1=&year2=&make=Lexus- &model=LS+460&category=&state=&zipcode=&zipDistance=&begPayment=&endPayment=&beg- Price=&endPrice=&BegMonthsRemaining=&EndMonthsRemaining=&BegMilesPerMo=&EndMiles- PerMo=&recent_list=&forSale=&Country=&ListingType=&ExtColor=&IntColor=&Engine=&T- ransmission=&showIncentive=&showNewLease=&leaseCompany=&showOnlyDealer=&DUID=&re- sultsPerPage=10&page=1&sort=3&vehicleID=475010
Car_man
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I'm considering to purchase an LS. The salesman told me the new LS lease program that is effective this month. For an 09 AWD model with MSRP $72,405 (I guess with this price it probably includes most options, excluding Mark Levinson audio), the lease price is $869/mo with 10K miles/yr, $2800 down. For 12K miles/yr, $30 is added per month. I have seen the previous postings on the lease price, so this price seems quite attractive. Still I'd like to hear opinions of experts here. Do you think this price is worth to rush in, or there is still room to negotiate (the salesman said it's "non-negotiable".) And would this price justify the lease over buying?
Thanks for the help,
Andy
I second that . I leased an 08 LS460 with ML/NAV, MSRP 75+K with a cap cost of 59+K in December 08 (don't laugh, Lexus had an 9000 delear cash last year when the economy hit the fence) and I put 9 lease payment to reduce the money factor. My monthly payment is in the $970+ + tax range.. The residual was set very low. After 3 years, 15k mile, I can purchase the car for 29K+.. The way Lexus set the December to remember lease rate is to make sure that your payment is about the same as in Nov. So they gave you lower money factor but lower residual as well.. If you want to buy the car at the end of the lease, then by all mean wait and see what Dec bring.. If you don't care about buying the car, your payment may not be too much different and you get a better selection of color and equipment combo...
It is a fairy loaded question and probably will take you a while to compare all the minor details.. If you can write off part of the lease because you use it for business, lease is the answer. However if you don't use the car for business, it boil down to you cost of money in lease vs purchase (i.e. the cheapest interest rate vs money factor that you can get), the price lease vs purchase (sometime you can get a better price one way or the other if manufacturer run special rebate for one program but not the other), and the tax treatement of lease vs purchase (in some states, tax is only calculate on the monthly payment e.g. California. In other states, tax is calculate on the entire sales price. In yet other states, you can deduce your trade in when you calculate sales tax on purchase but not lease).. Then you have to figure how much is gap insurance worth to you. Every Lexus lease (and most manufacturers' lease), they throw in a gap insurance where if you have an accidence during the lease period, you can hand the manufacturer your insurance check and walk away from the lease if you have an accident that total the car. If you purchase the car, it is anyone guess as to whether the insurance check will cover the real worth of the car at the time of accident.
In 03/04, I leased my son and daughther and 04 Honda coupe in California and I bought myself and 04 Honda sedan in Arizona. And it was down to the different tax treatment between California and Arizona because I have a car to tarde in..
My take is go with any special that a manufacturer give you if you don't use the car for business.. If they are promoting lease then go with the lease.. If they are promoting purchase then go with the purchase..
hope that helps
Could you provide the current money factor and residual for a 2010 LS 460 AWD SWB? Also, the same for a 2009. My current 2007 LS 460 lease is up in January and I am trying to decide if I should move now or wait till next month.
Thanks
You never mentioned how long you want to lease for or what mileage allowance you need, so I had to make some assumptions. Let me know if you want something different.
Car_man
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Thanks Car Man!
Car_man
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Thanks Car Man for any help
Car_man
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Thank You.
The residual value for a lease with only 12,000 miles per year is 2% higher.
Car_man
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I am not aware of any cash incentives on this car at this time.
Car_man
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Sorry to ask this question again, but what is the money factor and residual for 2010 ls 460 with 12k per year (for July). Also is there a difference in these numbers for RWD and AWD.
Many Thanks!
EJJ
The numbers for the AWD version of this car are exactly the same.
Car_man
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I received this lease quote from my local Lexus Dealer. Could you tell me if its a fair deal?
48 month/ 12,000 mile Lease
2010 Lexus LS460 AWD
- MSRP $72,150
- 928/month including tax, fees, ect (we have a 6% sales tax)
- $5000 credit for my trade in
- No money at signing (no down payment, sec. deposit, destination charge, ect..)
- No first month payment (I will pay $928/month 47 times for 48 months of use)
Many thanks again!
I see that you are considering making a $5,000 down payment on your lease using the equity that you have in your current vehicle. There's nothing wrong with trading in your current car when you lease a new one, but you would be better off having the dealer cut you a check for any equity that you have in it. Consumers who make large down payments on leased vehicles risk losing part or all of the money that they put down if their vehicle is totaled in an accident or stolen and never recovered. It's much safer to go with a zero down lease.
I would be happy to give you my opinion on this deal, but it would be much easier for me to do so if you provided me with this car's selling price first. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without this number, is is much more difficult to tell how large a dealer discount you are being given, and in turn if there is any room left to negotiate. Let us know what the selling price is and I'm sure that either myself or another knowledgeable community member will tell you what they think.
Car_man
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Im not actually sure what the negotiated price would be. I got this quote from a friend of a friend, who only gave me a monthly payment (928 including all tax and fees). He claimed this was the absolute best deal he could give. It is hard for me to gauge how this deal compares to others, since most Lexus dealership don't seem to publish any "lease specials" on the LS460. I know from the link he sent me the MSRP is $72,055 and that he valued my trade in at $5000. I'm not sure if this can help you with your evaluation of the proposed deal. In any regard, thanks again for your help so far!
Eric J
The numbers for an otherwise identical lease of a 2010 model are a less attractive .00210 and 49%.
The program for the 2010 model is less attractive, but Lexus is providing $4,000 dealer cash on it right now.
Car_man
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Lexus Financial Services' December buy rate lease money factor and residual value for a 24 month lease of a 2011 LS 460 with 12,000 miles per year are .00155 and 60%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.
Car_man
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And those with extended warrenty get another 500.. I made the appointment in Feb to do the recall on my 08 but decided to sell the car instead.. I will let someone else worry about whether it is a good idea to have a rebuilded engine done by mechanics that is not specialize in it.. It will take about 1 weeks for the the valve spring replacement. This particular recall is costing Toyota quite a bit of money. I picked up a fully loaded M37 to replace the LS a couple weeks ago (The LS will cost about 930ish a month vs M37 for 590ish for 36 months 12k miles) and so far I don't miss anything from the LS yet.. right now I have a 3000 GM card earning offer by GM to use by end of Jan and a 1500 rebate from Lexus to be used before end of 12/11 and I have a 07 G35 that I can get rid of. So I am sure I will start asking more question soon. Thank you very much for your help..
I received this quote on LS460 AWD. I am looking for a base model with no options, but a couple of dealers state that it will be hard to find a RWD with no or little options. They say most are AWD with some options such as navigation.
Here is the quote - wondering if this is fair.
48 months with 10,000 miles per year.
MSRP: $71910 (AWD, has comfort package, cold weather package, Navigation value edition, and Mats).
Cap Cost: $67809
Residual: 46%
Money Factor: .00190
Monthly payment: $1037
Total due at signing: $2300
Tax rate is 8.875% (NYC).
That's all the info I got.... Any help at this forum would be greatly appreciated.
THANK YOU!!
- What if you are a traveling salesman and you know you'll put on more then 12, 15,000 miles a year?
- Is purchasing the car at the end of the lease economical?
- What extra do you pay to purchase the car after the lease is up?
Or, if I can swing it, should I just purchase out-right?
LS 460 11'
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Lexus Financial Services' March buy rate lease money factor and residual value for a 36 month lease of a base 2011 LS 460 with 15,000 miles per year are .00190 and 52%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.
Other than $1,000 owner loyalty cash, I don't believe that Lexus is currently providing any cash incentives on leases of this car.
Car_man
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Whether it makes sense to purchase a vehicle at lease-end or not depends upon what condition it is in and what its purchase option price is.
If you know that you are going to put a ton of miles on your vehicle, you may want to consider purchasing instead of leasing.
Car_man
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thx!!
Car_man
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Just looking for an update on April 2011 rates. I'm looking at a 48 mo lease and 15K miles per year. Any updates would be greatly appreciated.
Car_man
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