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2013 and earlier Lexus GS 350 / GS 460 Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi akhi2006. Here's the information that you're looking for. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2010 GS 350 AWD with 12,000 miles per year are .00220 and 57%, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings berisky1. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2010 GS350 RWD with 12,000 miles per year are .00220 and 56%, respectively.

    Car_man
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  • alinvaalinva Member Posts: 2
    Is this residual (57% on the GS350 AWD) subsidized by Lexus? If so, do they negotiate if one wants to buy the car at the end of the lease?

    Thanks
  • myerslawmyerslaw Member Posts: 21
    I'm amazed at the residual!!!!!!! In the past, they have hovered at 50% or less after 3 years, making it completely impractical to lease ---- at least compared to Mercedes. Guess Lexus wants to get back into leasing, after all, and isn't worried about what to do with the returns. A real sea change.
  • afcaseafcase Member Posts: 1
    Hi I am considering buying a 2010 GS350 with nearly all but M/L options.
    The dealer initially quoted me 44,500, sticker is $48,661. But when I left to think about it. When I called back (30 min later to tell him I wanted to do the deal) he said his GM said that was $300 below cost and they would need to make $500 over cost so the NEW price is $45,430. I was pissed. He had run the 44,500 buy his sales manager while I was in the dealership.
    Quesitons.
    1. Sticker is 48,661 is this ($45370) still a good price for the 2010?
    2. I typically put 8-10k miles per year on my car is leasing a better option in this case?
    3. What is a one price lease? He said if I came up with a lump some $30k or so that is even a better deal?
    4. He offered me lease rates as follows.
    The rate/money factor is .00230. These payments are based on selling you the car at $500 over dealer cost which is $45370.00. The money down includes $2500 down, first months payment, taxes and fees. The leasing payments are as follows.
    36 x 10 = $647.35 w/$4004 down
    36 x 12 = $662.33 w/$4019 down
    48 x 10 = $618.46 w/$3973 down
    48 x 12 = $628.09 w/$3982 down
    It was a done deal at 44,500 but now I feel like they are playing games.
    Would really appreciate thoughts and feedback on the above. I have been waiting for a LONG time to finally make this purchase. I have never leased a car before.

    Sorry for the long post.
    Thanks
    Frank
  • berisky1berisky1 Member Posts: 20
    AFCASE...

    First of all, you will love the car. I've been driving one for three years and am considering another because I can't find anything with all the features, easy to drive and never goes wrong. Keep in mind they will likely get a redesign in 2011 models, so if this bothers you...

    Leasing is a good option if you don't want the car more than three years. If you are going to keep in a long time (5 years?) don't lease. Check my above posts for the prices I was getting on a lease, a factor them with yours.

    If you feel they're playing games, go to another dealer with the deal and see what they'll do.

    Good luck.
  • bmlexusbmlexus Member Posts: 755
    Just curious, don't mean to confuse u, but did u look at the new e class and the
    5 series?

    There might be some great deal for the current 5series, since the redesign comes out later this year.

    Regarding the lexus, if u like the car, the extra $930 does not make a big difference, but if u want the dealer to stick with the price, try pushing him to give for the price he promised, or perhaps look at other dealers?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi alinva. I suspect that Lexus Financial Services' residual values are a couple of points higher than what ALG publishes for its models (ALG is the independent source for residual value data in the industry). Whether this car actually ends up being worth 57% of its original MSRP after three years is anyone's guess at this point.

    More likely than not, they won't, but it's difficult to say whether LFS will be willing to negotiate your car's end-of-term purchase option price.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey myerslaw. Toyota is definitely being more aggressive than it was. In the fourth quarter it decided to boost its residual values for all models by 3%. It has kept them fairly steady since then.

    Car_man
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  • chucko3chucko3 Member Posts: 793
    There are $5500 difference between the sticker price & the invoice
    price. They still make $$ on the original offer.
    $45370 is still a good deal. Did the dealer give you some time to
    think about the offer?
    Like other poster already said. You will love the car.
    If you can afford to buy the car, you would be better off buying it.
    When the lease ends, you don't have anything left after making the
    lease payments.
    You're still responsible for maintenance costs during the lease.

    Good luck.
  • calaelcalael Member Posts: 6
    Carman, can you tell me what the rates are on a 2010 GS350 RWD @ 36 mos and 15K miles? Are there any anticipated specials for March?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    edited February 2010
    Greetings calael. Here you go.

    Lexus Financial Services' February buy rate lease money factor and residual value for a 36 month lease of a 2010 GS350 RWD with 15,000 miles per year are .00220 and 54%, respectively.

    When negotiating your lease, keep in mind that Lexus is currently waiving the first month's payment on this car.

    Lexus' current lease program is scheduled to run through March 31st. While it is possible that Lexus would make an unscheduled enhancement to its program before then, more likely than not it won't. It's difficult to say what its April program will be like at this point, but I suspect that it will be at least as attractive as its current one. Time will tell.

    Car_man
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  • outieoutie Member Posts: 42
    edited February 2010
    Has anyone leased a GS recently? I would like to know what kind of negotiated price to expect - invoice + $xxx or $xxx under invoice? Thanks.
  • calaelcalael Member Posts: 6
    Thanks for that information, I am looking to lease or purchase by the end of March. After much research, I have decided the GS 350 is the vehicle for me!!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, calael.

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  • glex1glex1 Member Posts: 76
    edited March 2010
    Lexus is advertising the GS this month at roughly 4k down(drive off total) 2yr lease at 10k miles/yr for 599mth, 62% residual. What are these rates bases off of, meaning what is the money factor on this lease?
    If I were to offer invoice for the vehicle which on the lot in PA is at MSRP of like 53,823, what would the breakdown be for a 36mth lease with 12k miles a year.
    Or really I should be asking, how do I figure this out? I can obviously get the invoice of the vehicle. So then how can I figure out what the payment would be if I knew the invoice, know the money factor and residual lexus is offering? How does the payment change if I move the yearly miles up or down?
    I apologize in advance if these are basic questions or if I'm not asking the right ones, but I forget and haven't not been on here since I leased a car 4 years ago.
    I'd like to try to get a payment in the 500 range with roughly 1500 drive off cost and I'm not sure if this is posible but just figured I'd ask or try... :shades:
    FYI: I do know the difference between the invoice and the MSRP price. I'd either ask the salesman to see the invoice of the car or just order the report off of here to what it is.
  • glex1glex1 Member Posts: 76
    I guess I'm not going to be getting any sorta feedback....haha...??
  • newcar_vwnewcar_vw Member Posts: 3
    edited March 2010
    Help:

    I am thinking of purchasing my 2007 GS350 at maturity date. Resid Valu approx 24K and the car is in mint condition with less than 20K miles. I believe Edmunds value is 28K-30K for comparable car.

    Questions:
    1. can I negotiate further with either Lexus Financial or any of the local dealers on price?
    2. i have heard that there are dealer fees of around 650 dollars due at time of transaction for paperwork? seems silly for that?
    3. any other considerations I am missing?

    I have until Friday....so prompt replies, suggestions are highly appreciated !!! Thanks much
  • wanker39wanker39 Member Posts: 3
    Carman anyword on Lexus Programs in April 2010 for the GS 350 also I'm turning in leased 07 GS 350 this month what should expect when turning the old lease for a new lease same car just a newer model any ideas. Thax in advance
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I have seen Lexus' April program. Lexus Financial Services' April buy rate lease money factor and residual value for a 36 month lease of a 2010 GS 350 2WD with 15,000 miles per year are .00195 and 52%, respectively.

    I suspect that LFS will be fairly lenient when evaluating the condition of the GS that you are returning. Unfortunately Lexus is not running any cash loyalty programs right now, the fact that you are a returning lessee won't really do much to help you in your negotiations on your new car.

    Car_man
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  • wanker39wanker39 Member Posts: 3
    Thanks Carman,
    For my cap cost on 2010 GS 350 2WD with nav no mark lev do you know what the invoice is ? Should I start from invoice? What is the best way to approach? thax
  • socaljdsocaljd Member Posts: 6
    If you are a returning LFS customer, they'll drop your MF by .00008 on your next LFS lease. If you do the MSD option, you will get credit for 1 sec deposit off your total MSD. Depending on the model you lease, it could be a $400-1000 value . . .
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome. You can look up the exact dealer invoice price of the GS that you're interested in, as you want it equipped over in the New Vehicle Pricing section of Edmunds.com. If I was in the market for this car right now, I personally would shoot for a selling price of $500 to $1,000 over invoice.

    Car_man
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  • wanker39wanker39 Member Posts: 3
    Thank you
  • BushwackBushwack Member Posts: 258
    For anyone who may know the answer...

    My three year lease on an '07 GS350 (with 21,000 miles) ends this June. From the dealer's perspective, would the dealer rather I return the car (which I assume goes back into their inventory) or buy out the lease? How would the dealer profit best?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Bushwack. The dealer would prefer that you return your current leased vehicle and purchase or lease a new one from them.

    Car_man
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  • emurrayemurray Member Posts: 1
    For those who might read chucko's email. You have lots of options at lease end. You can buy the car! Might sound stupid(see last sentences). You can sell the car to someone else and keep the difference between the payoff and selling price. I kept my G35 in top shape and am selling it for $3000 more than stated residual. That's equal to my cap cost reduction when I picked it up! I had more car for less money the entire time. You can also buy the car during the last month or two and still try and sell it. This works if you have maintained the vehicle well, kept miles reasonable (going over is OK if you buy it from the leasing firm).
    If you want to buy it to keep, consider my situation. $34k msrp vehicle. $3500 down, $399/mo for 39 mo/12k miles per year. Residual is $18400, at lease end, my car is worth $25,000! Total payments during lease about $15000 (less than half of car's cost). Buy at $18500 and car is still under sticker price! When money factor is low and residual is high, you can have a nicer car for less money and less money down. Money down is optional, too.
  • akhi2006akhi2006 Member Posts: 14
    Hello Carnan, can you please let me know the May lease rates for 2010 GS350AWD vehicle.

    Interested in MF, Residual fof 12K miles per year. Thanks.
  • BushwackBushwack Member Posts: 258
    Carman,

    I'd also like to know the two and three years lease rates for a 2010 GS350 RWD, 12,000 miles/yr (MF & Residual).

    Also, would you happen to know...like a CPO purchase, is Lexus also offering 1.9% for new car purchases this month?

    Thank you. :)
  • sonnierdsonnierd Member Posts: 2
    2010 Lexus GS 460 w/ Luxury Value Option
    10k miles
    3 year lease
    THANKS!!!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go, akhi2006. Lexus Financial Services' May buy rate lease money factor and residual value for a 36 month lease of a 2010 GS 350 AWD with 12,000 miles per year are .00165 and 55%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    If you are a current Lexus owner, make sure to take advantage of the $1,000 loyalty cash incentive that is currently available on leases of this model.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Bushwack. Lexus Financial Services' May buy rate lease money factor and residual value for a 36 month lease of a 2010 GS 350 RWD with 12,000 miles per year are .00165 and 54%, respectively.

    Lexis is providing special financing rates on select models in May, unfortunately the GS 350 is not one of them.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'd be happy to, sonnierd. Lexus Financial Services' May buy rate lease money factor and residual value for a 36 month lease of a 2010 GS 460 with 10,000 miles per year are .00165 and 53%, respectively for consumers who qualify for its top credit tier.

    Car_man
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  • calcougcalcoug Member Posts: 3
    Is there a market for buying GS 350's coming off leases? I would like to buy a 2007 or 2008 GS 350 from someone ending their lease and pay a price above their buyout price. Is there a market for this anywhere that you know of?
  • mohan12mohan12 Member Posts: 2
    In case it helps anyone on the boards- quote received last week:

    GS350
    MSRP: $50,555
    Term: 36 months
    Annual Mileage: 15,000
    Lease Acquisition fee: $700.00
    NJ tax (7%): $1,586.20
    NJ Tire tax: $7.50
    Doc fee: $239.00
    Registration fee: $501.75
    Loyalty Rebate: ($1,000.00)
    =====
    Monthly Payment: $610.00
    Total due at signing: $2,644.45 ($2,034.45 + $610.00)


    Any thoughts or things I should push back on? I'm leaning towards closing on this over the weekend..
  • BushwackBushwack Member Posts: 258
    Hi Car_man,

    Thanks for the May lease rates but unfortunately I couldn't make a deal (family obligations got in the way :).

    So....for June, do you know the three year lease rates for a 2010 GS350 RWD, for 10,000 and 12,000 miles/yr (MF & Residual)?

    Also, are there any special finance rates available (should I purchase)? I would think Lexus would have a big promotion to coincide with Independence Day in a few weeks.

    Thanks again!
  • BushwackBushwack Member Posts: 258
    Hi Car_man,

    In case you missed my post from a few days ago...

    Thanks for the May lease rates but unfortunately I couldn't make a deal (family obligations got in the way).

    So....for June, do you know the three year lease rates for a 2010 GS350 RWD, for 10,000 and 12,000 miles/yr (MF & Residual)?

    Also, are there any special finance rates available (should I purchase)? I would think Lexus would have a big promotion to coincide with Independence Day in a few weeks.

    Thanks again!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem, Bushwack. Here's the latest. Lexus Financial Services' June buy rate lease money factor and residual value for a 36 month lease of a 2010 GS 350 RWD with 12,000 miles per year are .00165 and 54%, respectively.

    The residual value for a lease with only 10,000 miles per year would be 1% higher.

    Lexus was running a special financing program on this car a couple of months ago, but unfortunately it is not offering one today.

    Car_man
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  • kmontkmont Member Posts: 3
    Hey Mohan12, Did you do this deal? I would like to. I live in NJ and all of the numbers look good to me. Can you tell me where the quote came from?
    if you would like to call me directly, 856-334-2124
  • BushwackBushwack Member Posts: 258
    Thank you for the lease/residual numbers.

    Would you (or can you direct me where) know when the 2011 model is coming?
  • kmontkmont Member Posts: 3
    The deal that I was able to negotiate is $50,555 MSRP (NJ) $685 x 36 mos, 15,000 mpy, $1,250 down, incl first mo. Most dealers told me that they were losing money to do that deal.
  • fromthabootfromthaboot Member Posts: 2
    I'm kinda torn between the ES and the GS. However I am leaning more towards the GS because I have owed 2 ESes and just would like something different. I was quoted a GS350 price of $46,500 with a 4yr/15K lease $4699 dwn, $699/mth and to purchase same price with a note of $697.30 for 72mths. The MSRP on the car was $49,500. I don't know if this is a good deal or not...but looking at the above post it doesn't seem like it. I live in Louisiana, but I am willing to purchase a car from another state if the deal is better.
  • adpcsadpcs Member Posts: 59
    You should be able to do much better than that. Contact Sewell Lexus in Dallas. They will even deliver the car to you...
  • fromthabootfromthaboot Member Posts: 2
    Thanks, I have been dealing this morning and so far I have gotten them down to 45,500. I really appreciate your quick response.
  • kmontkmont Member Posts: 3
    Carman, do you know what Lexus charges when you go over on miles? If it matters, I am considering leasing a GS350 for 36 mos. I am being quoted .25 per mile, seems high
  • myerslawmyerslaw Member Posts: 21
    The cost per mile over the limit is, indeed, pretty steep. I still think it works out a bit better to try to stay with a lower range than a higher yearly limit - and go in early if it seems that you're getting close. While the mileage charge was a bit high, I was elated with a drop of about $6500 from the MSRP and a money factor of .001+ on an RX350 I just leased for my wife. The 60% residual is what truly made the deal wonderful. (Liked the Audi Q5 a lot -- but 43% residual???). 3 yrs, 12K/year. Lexus of Westminster, CA.
  • BushwackBushwack Member Posts: 258
    As I am deciding between leasing and purchasing a 2010 GS350 RWD, here are some helpful numbers for you. These are June numbers for Southern California:
    2 yr/10K miles per year: 62% Residual, Money factor (MF) .00065
    2 yr/12K miles per year: 61% Residual, MF the same (.00065)
    3 yr/10K miles per year: 55% Residual, MF of .0012 (have also been quoted .0014)
    3 yr/12K miles per year: 54% Residual, MF of .0012 (have also been quoted .0014)

    The quote per mile is accurate at .25 cents (at least here in SoCal)

    FWIW, the new GS model is coming out late February (confirmed at three separate dealerships). Most likely announced in early November. No pictures have been released.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, Bushwack. Unfortunately, I haven't heard exactly when the 2011 GS 350 will begin to arrive at showrooms.

    Car_man
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  • mrtrancemrtrance Member Posts: 190
    So I'm in the market for a 2010 GS350 RWD within the next month. What sort of discounts can I expect to get on this car right now? Any lease numbers out for July for 10K/36mo?
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