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2013 and earlier Lexus IS 250 / IS 350 Lease Questions
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Car_man
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Prices Paid: Buying & Leasing Experiences Forum
The residual value for a lease with 12,000 miles per year would be 2% higher.
This month Lexus is providing a $1,500 cash incentive on 36-month leases of this car.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
I got a lease offer from a dealer for 2013 IS 350 RWD Sedan for 36 months 12k miles per year.
Here are the information
MSRP $46397
Sales price $43397
Money Factor 0.00168
Residual Value 58%.
With $3500 down payment, the monthly payment would be $574 with tax.
Or with only $1210 (first payment plus fee), the monthly payment would be $644.
Are the sales price, money factor and residual looks okay for you? Any thought?
Thank you.
It comes with F-Sport package and Navigation.
long time lexus lover here.. have become one of those "lexus fanatics" without even trying!
thinking of doing an 18 month lexus one pay lease on 2013 is250 (awaiting the 2014 but need car til then)
biggest lexus dealer here in south florida offering 18 month one pay at $289/month with $0 down..pretty sweet
thoughts? advice?
good idea? bad idea?
any and all advice appreciated..thanx :shades:
im being told residual is 68% and approx interest is 3%.
Is there any money on this car for month of April? anyone know of a good dealer for the best price. . . im willing to travel to get the car. Thanks in advance.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
My current 535 was a 61K car euro delivery that I had drive off of $1400 INCLUDING 1st MONTH payment, and paid $631/mo INCLUDING TAX on a 3/30 lease. It would be about $30/mo more for a 3/36.
I am just now looking at the IS350 vs the 335 and I see that leasing a Lexus in general makes no sense. Across the board, there is not much subsidizing like there is with BMW. Why would you lease with such low residuals? I am disappointed because the IS is a very nice car and a good deal for purchase relative to competition, but it is just too much to lease.
CUSTOMER DISCLOSURE
Customer Name: Inside Car Buying, LLC WD Deal ID: 87341
Sale Vehicle: New 2013 LEXUS IS 250 9506 4dr Sdn AWD AT w/AC , Automatic , Odom: 0
Payment Details
Term 24
Base Payment 350.45
Total Payment 350.45
Purchase Option 30,433.90
MSRP 43,477.00
Est. Miles Per Year 12,000
Excess Mileage Charge 0.25
Amount Due at Signing
1st Month Payment 350.45
Acquisition Fee 700.00
Fees & Insurance 361.80
Upfront Taxes 824.96
Total Inception Fees 2,237.21
Rebate as Cap Reduction 2,000.00
Total Drive Off 4,237.21
Total Cash Required on Delivery 2,237.21
Tax Information
Customer State: New York Customer County: WESTCHESTER
Type Amount Rate Paid
Cashdown Tax 204.66 7.3750 Upfront
Upfront Tax 620.30 7.3750 Upfront
Fee Information
Description Amount Paid
Reg 264.30 Upfront
Insp 10.00 Upfront
Title 12.50 Upfront
DocFee 75.00 Upfront
Also, base payment means pre-tax, so your base would have to be 324/month to total 350/mo if tax is indeed 9%.
Hard to believe but good on you if you've done it.
If you can't beleve this deal then you would problem sh*t your pants on the CT200h deal I did.
I base my comparisons on zero across the board and when I do the math for you, it's not bad but by no means is it a loss to them! They are great magicians, and I'm glad one of us beat them down lol good luck! Getting that at 15 k miles would have definetly made you the winner lol
Nice job.
I see the MF for the hybrid is 0.0001 too, so I BET you did a great deal there too
Term: 24 months
Miles: 12k per year
MSRP: 43445
RV: 70%
MF: 0.00099
Cap Cost: $ 39228
$2000 Dealer Cash used as cap cost reduction
$2200 due at signing
$350 a month
How's this deal? What can I do to make it better. This is in New York state with a lot of dealers. This is my first time lease. Thank you for all of your help.
Best regards.
I would definetly wait, because when ever new models come out the value of older models lessens. that is why car companies dont like to change models often. one web site says september is thee best month period bc thats when the new models are in and the new residual values are published. the fall is the best time bc CAR BRANDs offer incentives. for example there was an incentive of 5000 on my wifes acura. it was 33200 msrp, and went to 27500. we got the care 2 days after new year, so we took advantage of the end of the model year lease purchase this begins during the summer depending on when the cars come out. the dealer told me it starts in AUGUST for LEXUS. the new model comes out in june for the IS. im extending my lease so i can purchase my new lease in september. know your msrp, invoice, incentives, residuals, money factor and basic math, before you go bc this will save you 50-250 dollars a month.
http://lexusenthusiast.com/2013/04/29/lexus-usa-announces-2014-lexus-is-pricing/- -
The MSRP price is about the same as the 2013 IS. It depends on how much incentives or discount you would get from the dealerships.
Thanks
36 months at $335+ tax/month. $0 Drive offs.
MSRP :36,640
SALE PRICE 30,900
Cap Cost: 31,537
Residual Value: 61% /22,350
MF: .000145
10,000 milage allowance annually
$350 Lexus Lease Disposition Fee
This deal is way better than the advertised lease special. I urge people to shop around if you are in southern California, especially if you are looking at the IS 250. The new model is coming in July and they are moving these things. There is $2500 Dealer Cash, and probably are some hidden incentives, too. My first payment and DMV costs were credited to me at closing so I paid nothing out of pocket; so my monthly is really lower than $333/month since I only have 35 payments to make. The dealer was about $50 a month less than the next best offers I had from competing Lexus dealers.
MSRP: $39,850
Offered: $34,150
Discount: $5700
Looks like the poster above me got $5700 off as well. Anyone getting better offers? I'm buying in NY.
Also - I've been reading that the money factor (ie interest rate) should not be higher than your APR. If that's the case, is there room to negotiate the money factor down? Dealer just told me money factor was .00237.
you got a great deal. Can you tell which dealer is aggressively unloading car in southern cal. I would like to pick up one.
Thansk,
What my dealer told me on my last visit is you can get a discount of .00072 in the MF if you put down 9 Security Deposits. This reduces your monthly payment by about $50. Since you get the money back at the end of your lease, that is a great return on your investment (about $1800 over 3 years for $4000). Money saved is money earned. And it is tax free too. I knew BMW did it, but didn't know Lexus did it too. So, if you have $4000 to lock up for 3 years, seems like a great option.
Any cons?
Got quotes from 2 dealers which are both in upper $500/month which is not a deal at all.
I am located in SoCal.
The MSRP comes out to about $48,900 but true market value lists it around 47,500.
I appreciate in advance any input that is provided!
Looking to get a 2014 IS250 FSPORT and dealers MRSP is $41,123
Is that good? What is the residual value?
What questions should i ask?
<-- Rookie... any advice helps... thank you all.
MSRP 38,871
Residual value 46% - 17880.66
60 months
Tier 2 financial because of my credit. 8%
They want 1,500 (includes misc fees and 1st payment) and $579 (incl taxes).
What do you guys think?
I have an IS350, which was about $10,000 higher in MSRP than the car you're looking at yet I paid less than your monthly number when leasing it for 36 months. Granted, my lease was with tier 1 credit and took place two years ago, and the 2014 will probably not be heavily discounted right now even with the golden opportunity sales event, but with numbers like what you're mentioning, I would recommend walking out, or running from that dealership.
These numbers are horrible
I actually live in this area, and visited JM Lexus myself over the 4th of July weekend - despite the fact this dealer claims to be the "#1 Lexus dealer in the world!" I find their sales tactics and dealer behavior to be shady and dishonest
I didn't buy a car because if you don't have Tier 1 credit - they treat you like a second class citizen. It was all "sunshine ponies & rainbows" until they found out I didn't have perfect credit (which I already told them I didn't! - yet I have financed several vehicles through LFS - should count for something, right? NOPE) I actually had the cash to pay the lease up front - and was looking at the GS so it was over 10k for a 24 month lease - they still treated me like dirt - even though I was paying them up front! My salesman didn't call me back, and the finance didn't either - I had to call them to see where everything was at! Also - they completed my survey FOR ME - as in - WITHOUT my permission. They had sent me an email with a link, when I clicked on it, it said it had already been completed. I even emailed my salesman and the finance guy to ask for my survey - guess what? NO response! The only way they get those high ratings with Lexus is because they aren't submitting the true opinion of the customer or of their sales experience with this dealer! In other words F JM Lexus - look at what you are dealing with
Anyway -
Here is a link to their current "specials"
http://www.jm-lexus.com/lexus/new-car-specials/?masterpage=lexus-dealer
I was told by the finance guy that it doesn't matter to Lexus whether you do a regular pay lease or a one pay - so even though they only have one pay leases listed - you can negotiate something similar. It is to your advantage NOT to do a one pay lease - as all of your $ is in the car and if something happens (accident/total) you lose EVERYTHING.
DO NOT ever do a 60 month lease!
Why would you want to do that? As another poster said, if you are considering this - just finance. In addition to being an extremely long lease, you are extending the lease beyond the warranty for the car - if something should happen to the vehicle after 48000 miles - it's out of your pocket.
The residual value also seems very low for a car that is around the $40k mark.
In order to correctly calculate ANY lease - you need the selling price of the car, residual value, and money factor - you can find a lease calculator anywhere online and do it yourself to figure out what you are really getting
You can go on the regular Lexus website and it lists all the incentives for this area - Southeast.
Here is the link: http://www.yourlexusdealer.com/Miami_Ft_Lauderdale/index.html
They list a 2014 IS - 27 month lease for $349/month with $3769 due at signing (which is horrendous). If you add in the $3769 to the $349/month payment - in actuality you are paying $13192 for a car lease for 27 months - which is $488.60 per month.
This is just one example of an available lease at ANY South Florida Lexus dealer. There are always different lease scenarios available - this is just the one they advertise. If you go to the dealer and tell them what you want (miles per year, $ down, length of lease - they will come back with #s for you - don't let them control the sale - if you are smart and educated - YOU control it)
The 2014 GS lease is better than the IS lease - and it is 10x the car. The 27 month lease on that is: $449/month with $2600 down. Which is equivalent to paying $14,723 over the 27 month lease, or $545/month
Both of these deals include complimentary first month's payment - and no security deposit - (the $700 acquisition fee is included in the adjusted capital cost reduction). READ THE FINE PRINT in all lease offers. period.
Even if you don't have all the cash to put down - you can roll it into the lease - that is what I did with the above examples - all the down payment cash rolled into the lease. It IS possible for you to do $0 down with Tier 2 credit - you just have to say that is what you want - then you aren't paying it upfront - but over the lease period.
If you have Tier 2 - if they have a good finance guy - which every dealer should (including JM Lexus) he should be able to call a favor into Lexus and ask to bump you up to the next credit tier - it is done all the time.
I would try Lexus of Palm Beach. It's a smaller dealer and easier to deal with in working something out.
Sorry for the long post - but I am an experienced Lexus buyer and have bought multiple vehicles and have a lot of knowledge about leasing, Lexus Financial Services, sales tactics, shady dealers, etc...
Hope this helps & you drive away with a new Lexus - in my opinion - the best car on the market
It was extremely informative.
I will update the post with my visit to Palm Beach.
this doesnt include tax, or fees which are another few grand plus who drives only 10k miles thats another 50 x 27 mo.
taxes do add more to the monthly payment and i would never personally get a 10k per month lease - you will always pay in the end
was just trying to show this person what the monthly payment would be w the down payment rolled in - in comparison to what the dealer is advertising as the monthly payment
thanks for additional input
MSRP: 42,973
Trade-in: 3500
Net Cap Cost: 41,648 (I didn't get exact amount on fees other than base dealer fee, but you can back into it)
Residual: 66%
Money Factor: .0023
Term: 36 months
Tax: 6.25% tax in Houston
Total Monthly Payment: 598.60 (with no money down other than trade-in value)
The lowest I got them was to .00205 on the money factor, which brought the payment down to $581.10. Also asked about tax credits (which may be unique to Texas, not sure), and they said they aren't offering anything because no incentives are being offered on this model right now. I'm probably going to go with the Audi A4 instead, and if I do go with Lexus, I'll have to try another dealership first because I'm not going to accept these terms as is.
By the way, I don't know how people are getting .000xx money factors because I saw nothing even remotely close to that in the 5 different cars I looked at (Audi, Lexus, Cadillac, Mercedes, Volvo). One dealer said .0010 is the buy rate and can't go below it. SoCal must be very different in that respect...
Out in Los Angeles, the Internet salesmen are knocking $1500 to $2k right off the top of the IS350, without any negotiation required.