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2013 and earlier Lexus IS 250 / IS 350 Lease Questions
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Model year: Lexus IS 250 2008 AWD (brand new)
Miles on the car: 86
Options included: Luxury, Navigation, Premium, & Preferred Accessory Packages, and All weather Mats
MSRP: $41,174.
Invoice Price: $35,896
True Market Value: $39,115(KBB), $37,169(Edmunds)
Financing: 2.9% APR for 48 months
Down Payment: 0 (this may not be my choice)
Dealer's quote: $37,000
My offer: $35,000
My questions to all you experienced dudes:
•What should be the best price (between $35,000 - $37,000) should I finally go for this car?
•What should I check for in the new car (with any known issues with IS 250)?
•Should I negotiate for free Services (one of the competing dealer is offering free services thru 50k miles) ?
•Having 86 miles on the new car have any negative impacts?
•If I finally negotiate for $36,000, what should be my best bet if I have go for Lease option. Please include for 12k, 36 months, Zero down, Monthly: ?, Residual value: ?
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
I just ran the paperwork and was quoted an 08 IS250 RWD with premium package (heated/perf seats/woodgrain center trim) and a spoiler. MSRP of $34,359. I negotiated a lease at 12k miles, 36 months, $2,000 down and $329 a month plus tax ($354 total monthly when CA tax included, in Los Angeles).
Vehicle value on the leasing paperwork is $30,421.56. Gross capitalized cost is 31,066.26. Option to buy at the end of the lease is $18,745.
Can anyone comment if this is a good deal? Thanks!
I'm looking to lease an '08 IS 250 RWD with automatic transmission for 36 months and 12k miles per year in the NYC area. I read up top that current MF is: .0050, can you tell me what percentage the current residual is?
Thanks
2416.90 up front for taxes, fees, and 1st payment
$430 per month for 36 months
10K miles per year.
Good???
2005 G35 Sedan2007 G35 Sedan
2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
I'm going to cut and paste my "Is it a good deal speech now":
If will take some time to read this forum or any leasing forum you will find that no one can tell whether a lease is a good deal without knowing the price of the car that the dealer is selling you. If you only negotiate the price of a lease payment you open yourself to getting into a bad deal.
You need:
Publicly Available Items
MSRP
Invoice Price
Current Manufacturer Residual
Current Manufacturer Lease Factor
Items particular to your deal
Selling price (in these car buying times you should be around invoice on most cars)
Lease factor dealer is quoting you (dealers can mark this up)
Dealer doc fees
Local sales tax, and whether you pay up front or every month.
Out of pocket money up front.
2005 G35 Sedan2007 G35 Sedan
2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
2005 G35 Sedan2007 G35 Sedan
2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
Once you are comfortable with the selling price, make sure that the dealer is using Lexus Financial Services' buy rate lease money factor to calculate your car's monthly payment. I believe that LFS' buy rate for a 36 month lease of an '08 IS 250 RWD AT is currently around .00055 for consumers who qualify for its Tier 1+ credit tier.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Does the 54% residual for 36 months and 12k change with NAV? Also, do you have the residual for 24 months and 12k with NAV? My dealer told me that they could not do a 24 month lease with less than 15k miles.
Thanks!
Did I get a fair deal or should I never go to this dealer again? Thanks.
the residual is a percentage of MSRP, not cap cost. so actually your residual was 58%. something doesnt exactly add up from your numbers but your money factor was in the range of 0.003 to 0.0033. Or ~ 7.2% to 7.92% .
Rent Charge = (Net cap cost + residual )* MF *36
or
MF = Rent Charge / ( (Net cap cost + residual )*36)
This is the deal that I got from my dealer for an IS 250 AWD:
The Luxury package
The Premium package
The Navigation Package
Ipod-Interface kit
weather tech floor mats
preferred accessory package
rear lip spoiler
XM Radio
MSRP: 42,000
Ca Cost: 39,000
Money Factor: .00107
12 k miles for 48 months
I got it for 530 a month (taxes included) with the dealer making my first payment. Total out of pocket was 87 dollars for license plates. What do you think? Was it a good deal?
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Model: IS250 AWD With Navigation, Prem Pkg, Spoiler, HID
MSRP: 39,738
Cap: 35,510
Residual: 54%
MF: .0006
Total Out of pocket: $1,088 (first month, bank and dmv fees)
Monthly - $459 including tax
I was hoping to get some info on whether Lexus dealers are able to purchase turned-in leased cars from Lexus Financing Company (or whatever the name of this company is) for less then the lease residual to either get a lower price then the residual or extended warranty or promo financing.
I contacted 2 fleet managers at local Lexus dealerships but both said that I should just buy the car directly from the Lexus Financing Co. However, I am not sure that they fully understood my question.
I'd appreciate any insight on this issue.
I just want to share with you my price and experience with a dealership.
I requested a quote from Edmunds, and got the response from one of dealer in NJ.
MSRP: $37709 (HID, All Weather Mat, Trunk/Cargo PKG, Premium Plus, Spoiler)
Dealer Offer Price: $33395
MF: 0.0006 / Residual 54% at 12,000
Initial Payment: 1493.04 (Bank Fee 600 + MV + Rec Fee 200)
Monthly 424.03
Originally, I went to buy it with finance 2.9%/48Mo, then I compare that Total costs of "Lease then Buy" and "Buy". They were not much different if I put my original down payment in CD or MMA, and hope to grow it by end of lease term. I am intend to pay extra amount to my saving account, just like I would pay for monthly payment for finance. Thanks to current MF which is being so low. Dealer said, Lexus don't negotiate the residual value after end of lease. At least, for now, I have some leverage to change my mind if I don't want to keep this car.
I ended up leasing it because MF was lower than Finance APR. I will post more on the Lease forum.
MF: 0.0006
Initial Payment: ~1400
Monthly: $420 for 26 months, 12k miles
MSRP 39,178
Cap Cost 33,781
mmf 0.00055
36 months, 12k/yr
drive off $1000.00 total
residual 21156
payment $422.00 including tax
IS 250 includes NAVI, HID lighting system, Prem pack, X Package,
net,mat,locks, and rear bumper applique
Smokey Granite/with gray interior
I had picked up my is250 smokey granite on June 28th
Premium Package
HID
sport package
heating and cooling seats
NAVI
Light grey leather interior
$1200 down
15k miles 36/months lease
$480/month including tax
I was not tier 1 credit , but if I was the lease payment would have been in the low $400's
The purchase payoff estimator by Lexus Financial is $21,276.33
Thank you for any advise...
One caveat on your lease payoff. Depending on what state you are in, there might be two payoffs. The first would be a consumer payoff if you bought the car, which would include sales tax. The other payoff would be a dealer payoff that has no sales tax. If your monthly payment includes sales tax then there are two payoffs, and hopefully you received the consumer payoff.
2005 G35 Sedan2007 G35 Sedan
2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
Thought the payment for this was really ugly. What are your thoughts?
IS250 AWD, NAV, HID , Lux Package
3 years/10K miles
MSRP 40,255
Cap Cost 35,655
Money factor .00095
54% residual
$3000 down including First months, all tax's and all fees. (NY Tax i $1300)
$432.44/month for 36 months.
Is this a good deal?????
Internet sales manager
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Thanks.
josh
Thanks
Matt
eights38@gmail.com
I am looking to lease the IS 250 with Nav for 36 month. What is the MF and residual for both 15K and 12K miles?
The quotes I got for 15K miles was $512 and for 12K miles was $491. This is before sales tax and with no cap cost reduction.
Thank you.
2005 G35 Sedan2007 G35 Sedan
2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
What do you think is a good price on the 2009 IS 250? The price I was quoted was 37,017 before tax and license. This is including Nav.
Keitarou
Since you say that your drive off was $1000.00 total. Is 1st month payment included in the $1K? Is the $33,781 your negotiated price?
2005 G35 Sedan2007 G35 Sedan
2008 G37 Sedan
2010 G37 Coupe
2012 G37 Sedan
2014 Q50 RWD
2017 Q60 3.0t RWD
2018 QX60 RWD
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Can you please post the October money factor and residual for the 2009 IS 250 RWD, 15K miles, 24 and 36 month lease terms?
Thanks for all the information you provide on the boards.