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2013 and earlier Lexus GS 350 / GS 460 Lease Questions

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Comments

  • socaljdsocaljd Member Posts: 6
    Hey Car Man,

    Thanks for the rates on the GS for a 36mo lease.

    Can you provide the rates on a 48mo lease - I assume the MF is the same but what is the residual ?

    Also what is your opinion on MSDs ? Are MSDs at risk if the car is totaled or stolen ? TIA.
  • moolmanmoolman Member Posts: 129
    Hi everyone,
    I had a question about the MSD. Last year I leased a RX350 and for every MSD, I got a 0.0001 reduction. I'm thinking of leasing a GS now but I see that some people mentioned that the MSD reduction is 0.00008 now. Did the MSD rate change for the worst this year.

    My second question is the Encore program, allows be an extra MSD reduction for free for leasing my 2nd lexus, correct.

    Thanks
  • discount80discount80 Member Posts: 27
    What price should I be looking at about? 2008 GS 350 36 months 12k a year. Nothing down. Any ideas? I live in south florida.
  • gb350gb350 Member Posts: 22
    Does anyone know what the current December to remember lease, residual and money factor numbers are for a GS350 AWD with both 10k & 12K per year are?

    Thank you,
  • espo1espo1 Member Posts: 27
    For 12k and tier 1 MF is .00185 and 52% for 10K I believe you get 53% with 9 deposits you can lower the MF by .00072 to a MF of .00113. Depending on where you live and what the competition is in your area you should be able to get the car for $1000 over invoice or better.
  • crestonavecrestonave Member Posts: 209
    can someone offer me some guidance
    i'm looking at leasing a 2008 gs 350 awd
    msrp is $50,470.00 according to the lexus website
    i'd like to do a two year lease with 12k per year, as little down as possible

    what price should i be shooting for? what's the mf and residual?
    i want to compare this lease with the mercedes e350 4matic.

    also, pardon my ignorance, but what is MSD?

    thanks for your help!
  • myerslawmyerslaw Member Posts: 21
    I ended up purchasing a 2007 gs last spring, because the lease rates/costs from Lexus were outlandish compared to the Mercedes E series. (at least 50% more than the E350). For whatever reason, the Mercedes leases -- and you should check carman's forum for Mercedes -- are far less expensive. The residual on the Mercedes is much higher than the Lexus (and I am mystified about that -- given the long-term reliability of the GS). Hope this provides some help.
  • gb350gb350 Member Posts: 22
    December to remembers Northeast Deal.

    2008 GS350 AWD with Nav. (No ML) MSRP: 51,135.00

    Cap cost: 2,500.00 + Tax, Bank Fees, DMV fees = Total Due at signing: $5,985.38.
    Monthly: 569.99

    Term: 39 months.

    Mileage Restriction: 10K a year.

    Option to purchase: $26,9XX.XX

    Did I get robbed?

    P.S. I traded in a car worth $3,500.00, am I supposed to have this portion exempt from tax on the down payment / cap cost?
  • crestonavecrestonave Member Posts: 209
    Yes, your post was very helpful, thanks! I've been checking the Mercedes forum as well. If you're leasing, the higher the residual the better. Mercedes is currently pushing 24 mo leases where Lexus is offering 36 or 39 mo leases, and I'm not sure I want to be in the car that long. I'm guessing that Mercedes will do rather well selling two year old cars coming back off lease. Friends of mine in the business tell me that they make a heck of a lot more money selling cars that came in on trade than they do selling new cars.
  • crestonavecrestonave Member Posts: 209
    I'm no expert, but this is the exercise I would have gone through were I in your position:

    Your 39 monthly payments plus your downpayment total 24730. If you add 24730 to the residual, your total is 51630 vs a 51135 sticker price. If you exercise the option to purchase, you've essentially gotten a 39 month interest free loan on the car. Of course, you're paying sticker, and I don't know to what extent Lexus discounts, but seems ok to me. If your trade in is on top of these numbers, then 3500 works out to around 7% simple interest. Still not bad.

    Anyone see a fault with my logic or math?
  • socaljdsocaljd Member Posts: 6
    I believe message #207 & 209 answer your questions on leasing a GS350 awd.

    As for MSD, it's Multiple Security Deposits and it's a program that Lexus offers to lower the MF for each add'l security deposit placed on a lease. It's better than a cap reduction, since you should get all your deposits back when you return the car.
  • newcarznewcarz Member Posts: 1
    Hi,I have been reading these posts awhile and just joined. I was hoping to get close to "invoice" this is not happening for me even in the best of weeks to buy
    (year end) Rolling tax in to selling price 39mo 12k...Am I unrealistic thinking $725-750 mo can be had with current money factor.(2nd lexus,best credit) I am terrible with # and don't know if this can be done on lets say $46,000. Is this do-able or am I asking the impossible of a gs dealer?
  • oblomovoblomov Member Posts: 9
    I think this definitely can be done. You will probably pay around $1700 out of pocket though (taxes being rolled in). That also depends on the state. I just leased 2008 GS350 AWD with navigation and all the other small options, but excluding MS, Laser Cruise, and Lexuslink. I negotiated the car down to about $45,700 (not best deal but decent with MSRP being $50,890, and invoice being $45,100 on this one including stupid ad fees which no local or not so local dealer wanted to budge on). With December to Remember Lexus Financing 0.00185 MF, 50% residual on 36 months, 15K miles a year, I got that for $3900 (taxes, tags, title, doc fee *grrrr*, first payment) out of pocket with $699/month payments. You figure that 3K of extra miles (compared to you) is $30, so say $670 is what you would be looking for, but throw in extra $75 or so for taxes. You wind up with $745/month with taxes rolled in. That's in MD, with 5% tax paid on the full price of the vehicle (yeah, it sucks here), and your mileage may vary.

    All that said, it probably makes more sense to buy GS instead of renting since residual is low and MF is not really super. As a comparison, BMW 535xi residual is 61% I believe on 36months and 15K miles per year lease.
  • moolmanmoolman Member Posts: 129
    Alright, here's a step by step breakdown of the costs, so that you can have an advantage when you buy or lease the car.

    First off I should say that I purchased an add on of XM radio for $299 from the dealer. The XM was already installed by the dealership and they wouldn't take it out since it was installed. The car was the color and options I wanted so I relented and paid the 299. It's a decent deal for XM since Sewell sells the XM add on for $299 online and I got it installed for free with 9 months of service. Anyway, just wanted to state this because I see people post that they paid a certain price or invoice or below but don't reveal that they bought extra crap like a warranty or LoJack and overpaid for those items so of course they get the car for under invoice, since they got ripped off on the other stuff.

    36 month lease with 15K miles per year.

    MSRP: $51915
    Sales price: $45764 (This price is invoice found on edmunds + TDA (advertising fee) of $552)
    Acquisition fee: $600
    Registration, license: $364
    Document prep: $48.71
    Other fees: $8.75 (California Tire Fee)

    Lease info:
    Gross Capitalized Cost $46,364 (sales price + acquisition)
    Current Money Factor for 36months 15K: .00185
    Discount for putting down 9 refundable security deposits: 0.00072
    Final Money Factor: .00113
    Residual = 49% = $25,438.35
    Total monthly payment with 8.25% tax = $717.06

    I put no money down on the lease, I did make a 100% refundable deposit of $6,525 that saves me roughly $2,000 over the 3 years, not a bad investment since that money would of just been sitting in the bank, earning low interest and being taxed.

    Total drive off was $7,672.86, $6525 of it are the MSDs and $1,147.86 was first months payment, license, tax etc.
  • sfreeman2sfreeman2 Member Posts: 2
    Hi,
    Where are you located? I am in Bellevue, WA and they barely budge off of invoice, but I have them down about $3k off invoice. Did you get AWD?
    Thanks!
  • masterfungmasterfung Member Posts: 36
    You mean they will barely budge off of retail?

    Can we get the Lexus MF and residuals for Jan? 15 miles and 36 months. Thank you!
  • moolmanmoolman Member Posts: 129
    The car is a RWD and I'm in So Cal hence the $8.75 California tire fee. California is a very competitive market so don't expect to get invoice else where. I have at least 8 dealers within a hour drive.

    I would expect in January for the residual to remain the same but the money factor to go back up to 0.00285, or whatever it was prior to the december to remember sale. Also, realize that once the year is over, there is less incentive for dealers to squeeze that last sale and get up their sales numbers for the year, hence prices go up a bit. Dealers are willing to let go of cars a bit cheaper just to boost yearly sales goals. I would think if you buy before Dec 2, the last day of december to remember, it'll be okay. Haggle now and buy now, you'll be sorry if you wait.

    If you are reading this post in january, don't expect to buy at Invoice anymore since it is not end of the year anymore.
  • ekndyekndy Member Posts: 3
    I'm undecided about purchasing or leasing. Has anyone been able to negotiate what you think is a fair deal in Central Florida? Thank you for any feedback.
  • richardjohnrichardjohn Member Posts: 4
    2008 GS350 RWD w/Nav no ML -in Calif.

    MSRP $49,635
    Gross Cap $44,550
    Residual - 50%
    Money Factor - .0017
    36 months - 15k miles

    Total due at signing $1,500
    Monthly payment $743 w/ tax included
  • moolmanmoolman Member Posts: 129
    I'm not carman, but that's a decent lease. During December to Remember the money factor was 0.00185 but if you can get 0.0017 that's very good. It's usually the lowest in the summer sale and the DtoR sale but maybe because of slow sales and the ecomony, they are having a low money factor. The residual is good. I got a 49% residual for 15K a year. You might consider doing Multiple Security Deposits that are refundable to lower the MF, if you can afford it, it's a good deal. I don't know the pricing right now on the GS. During the december to remember sale, they were going anywhere from the edmunds invoice price to $1500 over. If you can get $1500-2000 over edmunds invoice that would be a good price but depending where you are maybe negotiate hard, the ecomony is slowing down so less buyers right now. I don't know if your figure includes the $600 acqusition fee but I assume it does since you included a final montly price. Good luck.
  • pimanianpimanian Member Posts: 3
    Where did you acquire this deal?
    My Portland dealer says for their GS350 AWD
    MF of 0.00249 , 49% residual on 36 mo @ 15K/yr.
    MSRP for the one I am looking at is about $53.5K and they won't budge below $50K.
  • kmrodkmrod Member Posts: 1
    A buddy of mine is a finance guy at a lexus dealership. At $1000 over invoice the payment is approx $720+ tax w/$1200 total drive off here in socal. fwiw.
  • pimanianpimanian Member Posts: 3
    Wow, does your buddy want to make quick deal? :) Email me [email protected]
  • richardjohnrichardjohn Member Posts: 4
    I bought mine at Longo Lexus in El Monte, Ca. I think they have the best deals in so cal since they are the largest Lexus dealer. I called another dealership that was closer to me and they couldn't come close.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi richardjohn. The car that you are interested in, a 2008 Lexus GS 350 RWD w/Navigation, has a spread of at least $5,500 between its full MSRP and its dealer invoice price. The $5,000 discount that you were quoted looks very attractive to me. It is probably less than $1,000 over invoice. The .00170 money factor that you were quoted is right in line with what Lexus Financial Services' buy rate was for this model last month. However, Lexus actually enhanced it to .00150 in March. Make sure that the dealer you are working with uses the new money factor to calculate your payment. Other than that, this looks like an outstanding deal. If you like the car, go for it.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • asteinbergasteinberg Member Posts: 138
    Edmunds was very helpful with my last car.
    (1) Not sure whether to go for Lexus GS350 or Infiniti G35.
    (2) My last car--BMW was leased due to discount, MF, high residual.
    Does Infiniti promote/subsidize sales or lease?
    (3) What should I pay relative to invoice?
    (4) What is MF for 3 yr 12,000, 3 yr 15000?
    Thanks.
  • asteinbergasteinberg Member Posts: 138
    I'm in So California and prefer to deal with local dealership unless they are not competitive.
    I'm leaning toward Lexus GS350 over Infiniti G35, but higher price is a factor.
    G35 seems to be available a bit above, or at, or below invoice.
    Is GS350 available at or near invoice (which I assume includes "ad allowance.)"
    From standpoint of what Lexus offers, is it best for me then to buy or lease?
    What is finance rate for buying? What is MF for leasing for 12,000, 15000 miles?
    What should be cost for acquisition fee? For document prep fee?
    Does Lexus provide lower lease payments in return for multiple security deposits.
    (Through CarMan's advice 2 yrs ago, I secured 2006 BMW530i MSRP $56,765 for 2 yr lease, 12000 miles annually; capitalized at 53,700; acquisition fee of 625, doc prep of 45; I gave 5200 of multiple security deposits to reduce montly to 574.34+47.38 sales tax. It seems like Lexus costs less, but might cost more to lease due to higher MF or lower residual.)
  • asteinbergasteinberg Member Posts: 138
    Still must decide between three DIFFERENT 2008 cars -- all that I like Lexus GS350, Cadillac CTS (with blue tooth added, giving me separate screen), or Infiniti G35. Then, must decide whether to buy or lease. Incidentally, Lexus has best mileage, but Cadillac uses regular gas. I currently have BMW 530i expiring lease which, with Edmunds help, I had leased for net MF, and much less, with multiple security deposits.
    Anyway, for GS350, G35, and CTS, could you please provide:
    (1) Target deal relative to invoice+destination (and any rebate)
    (2) If buy, available finance rates
    (3) If lease, money factor or interest for 24mo, 36 mo for 12K, 15K annually
    Any better MF or interest rate for multiple security deposits?
    Thank you for this information. I'll also put on other forums, in case you guys see that first, to try to get info.
    Thank you!
  • hhpnhhpn Member Posts: 10
    I just got a deal this afternoon in houston tx 3/22/08.

    gs 350 RWD, msrp $49,630. (Navigation w/o the sound)

    term: 36 months, 750 monthly payment

    that was it, i just had to pay for the first month payment of 750.

    is this a good deal anyone?
  • hhpnhhpn Member Posts: 10
    I just got a deal this afternoon in houston tx 3/22/08.

    gs 350 RWD, msrp $49,630. (Navigation w/o the sound)

    term: 36 months, 750 monthly payment

    that was it, i just had to pay for the first month payment of 750.

    is this a good deal anyone?
  • hhpnhhpn Member Posts: 10
    I just got a deal this afternoon in houston tx 3/22/08.

    gs 350 RWD, msrp $49,630. (Navigation w/o the sound)

    term: 36 months, 750 monthly payment, 12 k miles/year

    that was it, i just had to pay for the first month payment of 750.

    is this a good deal anyone?
  • smithsongasmithsonga Member Posts: 123
    750 for 36 month lease?

    Depends how much you like that car vs. other options. You can get a E-series or 5-series for much less $ at that MSRP.
  • billyperks2billyperks2 Member Posts: 378
    a strip 5 or e series for that msrp.
  • hhpnhhpn Member Posts: 10
    hi everyone:

    i just got a deal and about to sign paper work with them so i need your help (this is the very first time i do a lease contract)

    2008 GS 350, MSRP $49,630 (Navigation w/o ML Sound)
    lease term: 36 month, 12,000 miles/year, $750 monthly payment, pay out option at the end of three years is $24300
    i do not have to pay anything now, just $750 first month pmt.

    is this deal acceptable to you guys? please i really need some info from you guys.

    thank you so much
  • akhi2006akhi2006 Member Posts: 14
    Can you provide more details like what is the selling price, residual, and Money factor so that I can let you know if it is a good deal or not
  • hhpnhhpn Member Posts: 10
    thanks Akhi, i forgot my lease contract at the dealership so i do not have that kind of info, but i remember money factor was 15, i will have to come back up to resign because they put a wrong vin number on the contract. the first dealer i delt with, give me same deal $790 month, i contact this second dealer, and they gave me the best they can of 750. the first dealer is calling me, it looks like to me that they are willing to go lower, but ten or 15 dollar off that 750. i am very tired, i dont want to go back and forth just for several hundred over three years term.
  • pimanianpimanian Member Posts: 3
    Well I negotiated for my mom's 2008 GS350 AWD with Nav & ML system. MSRP was about $53K, we got the price down to $50K. The MF 0.0015 residual 49% for 3 years at 15K / year. Monthly came out to be $780. Due at signing was 1st month, registration stuff, and some outrageous $600+ in bank fees. I couldn't argue with them to remove the bank fee, they said it's manditory. Probably BS, but we were a lil tired of dealing at that point so we just took the deal.
    Not sure if yours had AWD, but since we got AWD + ML system and at 15K / year, you probably have some room to negotiate.
    This is in the Portland Oregon dealer
  • hhpnhhpn Member Posts: 10
    thanks pimanian; i did sign paper work this evening, well, i can lower the payment by a few dollars, but i just let it go since they offered other great thing after all (pickup services, free maintenant for two years...)

    even though i do not have the Sound and AWD (I do not need that here in tx) i do not wanna buy that option since i will probable turn it back in after three years, i dont want to pay for it then give it back.

    my deal was not that bad compared to yours. my MSRP is 49600, i got everything in the car but AWD and the sound. i knocked the price down to 42700 then they added all the taxes and fees to the bottom line of 44's. your other fees plus the first month pmt cost you 2000's i only had to give them 750. my residual is also 49% (people kept talking about this figure but there is nothing we can deal with it since it was set up by the Lexus). well, it cost me 27k to drive that car for three years, i can probably cut it down to 26500 but 500 for over three year is not a material amount, plus i think i did get the best deal we can get, what do you think?
  • akhi2006akhi2006 Member Posts: 14
    Carman, can you please let me know the MF and Residual for 08 GS350AWD for 12k miles per year and 36 months. The dealer quoted me MF .00095 and the residual is 49%. Thanks in advance.
  • rmedinermedine Member Posts: 2
    Hi all, this is my first post here. I currently have an IS350 but am looking to get out of my lease and get into a GS. I got an offer from an Los Angeles dealer to take backmy IS and give me a 2008 GS350 fully loaded, Mark Levinson sound, parking assist, etc. smokey granite, grey interior with black wood. MSRP 51.9K. The deal is 48 month lease, 2K down (includes first month, taxes and fees), 15K miles per year...for $650/month (taxes included). Is this a good deal?

    Resid Rate = .38, MF = .0115

    Thanks in advane for all of your thoughts and opinions.
  • billyperks2billyperks2 Member Posts: 378
    The payment and the out of pocket looks good but the residual and money factor are way off.The money factor you gave converts to about 27% and the residual is way too low for 48 months.With the factor given, I dont see how they calculated such a low monthly payment especially with the ML.
  • rmedinermedine Member Posts: 2
    I'm sorry, I meant that the MF is .00115...I missed a zero. What sort of residual value should I expect for a GS for a 4 year lease? Seems that all of the dealers that I have called give me the same resid rate of .38 for four years.

    Thanks for your opinions!
  • billyperks2billyperks2 Member Posts: 378
    These dealers are so slimy- if they dont cheat you one way they try to do it another.The money factor I got was .0015 but my residual was 41% and this was everthing included but the ML.He was selling me capitalizing the car for $500 over invoice which I thought was not a bad deal.My monthly including tax works out to be$ 655. I am either going to purcahse or lease from this dealer, I actaully like dealing with my sales person-he has been more than patient with me for the past 6 to 8 months.
    Is your car AWD or RWD?
  • vanb29vanb29 Member Posts: 1
    have a quote of $617 on 48 m....1367 down.............sarasota,fl
    no nav system..........15k per year
    any comments would appreciate.....thanks bob
  • readytoridereadytoride Member Posts: 2
    been emailing back and forth with northside lexus in houston, texas. quoted 45370 for non nav and 47270 for nav. this includes 'internet discount' i am not sure what to expect from leasing from lexus. ideally i'd like to just sign and drive with no out of pocket money. i want my payments max at 750. is this possible? what should i look for when negotiating my deal? plan to go to the dealership tomorrow.
  • billyperks2billyperks2 Member Posts: 378
    Depends on the lease terms and mileage,for a 48 month lease for the navi car look to pay about $655 monthly and approx.$1800 out of pocket.
  • readytoridereadytoride Member Posts: 2
    Ok..why am i getting these outrageous quotes on a 36 or 48 month lease on the GS350? I was told yesterday that a 48 mo lease with 15K miles would be $955...
  • billyperks2billyperks2 Member Posts: 378
    That souds like a LS payment, even a fully loaded GS 350 with zero out of pocket would not come close to that payment.That dealer is taking you to the bank, you can do the math yourself,providing you have the varibles involved,Edmunds have the formulas here for the lease calculation.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey rmedine. The .00115 lease money factor that you were quoted is right in line with Lexus Financial Services' buy rate for the 2008 GS 350. The 38% residual value that you were quoted is correct as well.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • mi7mi7 Member Posts: 31
    2008 GS 350 with everything except for ML, Park Assist, and collision avoidance system.
    MSRP around $49k and some change.

    $635/month with $3,500 down
    36 months lease and 12k miles/year

    I forgot the money factor but it was for tier 1 financing...please tell me if this is a good deal! the dealer said they're giving me the car $800 below invoice ($44k and some change)....

    oh yeah i also wanted them to deliver the car to my door (a $200 charge) and they said they'll do it for free....
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