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2013 and earlier Lexus ES 350 Lease Questions
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Comments
It seems like most of the posts were from this summer, so I wanted to get your thoughts on how much better or worse the deals are currently for an ES350.
1) Is it still resonable to expect $2-3K under MSRP? Does the "December to Remember" make it better or worse?
2) How does one negotiate on the money factor? Beyond Lexus Fin Svcs, I don't even know who else could quote me a figure.
3) Is there a website that publishes the geographic differences in the money factor or residual value? I have a "first round" quote from a sales person in Oregon that has 0.00289 and 58%.
4) What other pitfalls should we watch out for? In particular, I'm concerned with open-ended leases and any fees due to wear and tear. Does the lessee have any leverage in negotiating those end-of-lease fees?
Thanks in advance for your help and all of the useful info in this forum.
Any idea what would be a good deal so the dealer don't take me to the cleaners. I am very bad in negotiating.
I appreciate any good advice
Vehicles' money factors are not negotiable, meaning that consumers cannot get dealers to give them a lower money factor on the vehicle that they want than the one that is published by the bank that they lease through. However, dealers are often allowed to mark up vehicle's money factors to add hidden back-end profit to deals. This is why it is important to know exactly what the buy rate is on the vehicle that you want before you agree to lease it. Right now, Lexus Financial Services' buy rate money factor for the 2007 ES 350 is .00245 for consumers who qualify for its Tier 1+ credit tier. Make sure that this is the factor that is used to calculate your car's monthly payment. There should not be any regional variation in this car's money factor or residual values right now.
All vehicles today are closed-end leases, so you don't have to worry about your deal being open-ended. Most manufacturers' captive finance companies, like Lexus Financial Services, are very reasonable when evaluating the condition of vehicles at lease-end. The last thing that they want to do is nickel and dime lessees to death, make them mad, and possible cost their parent company a future sale. That would be penny wise and pound foolish. As long as your car is in decent shape at the end of your lease, you should be OK.
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Ron
Thanks
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HELP!
I’m new to this forum and looking for some guidance on leasing vehicle.
I’m looking for any advice on how to terminate my current lease and either buy or lease new car. I have two leased cars, 2004 Lexus ES 330 and 2004 Honda Civic LX. ES330 with 60 month lease term with 23 months left on the lease with monthly payment of $523.69 (tax included) and Civic LX with 36month lease term with 7months left of lease with monthly payment of $247.89.
I don’t have residual value on either vehicle ..I’m really not a savvy buyer/leaser .
Also I just received a flyer from Jim Falk Lexus in Beverly Hills CA on special weekend promotion that they will buy all leased vehicle regardless of condition, terms, mileage, etc.
Is this another sales gimmick? Would they both of my lease and work out great deal?
Would any other dealer would consider buy out my lease and buy or lease new car or is this special promo?
I really want to replace both cars with Infinity G35 Coupe (buy) and Audi A4 (lease current promotion).
HELP!!!!
Thank you!
You can determine approximately how much it will cost you to get out of your current lease by comparing its purchase price to its value on the open market at this time. You should place a call to the bank that you are leasing your vehicle through to find out its exact price. Once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". Some of our most knowledgeable community members often visit that discussion they are often kind enough to give others their opinions on vehicles' values. Don't forget to check to see if you are still on the hook for your remaining lease payments. The difference between your leased vehicle's current value and how much it will cost you to buy it plus any remaining lease payments that you are obligated to pay will equal the cost of getting out of your lease right now. You may find that you are better off waiting until you are closer to the scheduled end of your lease to get another new vehicle.
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36 months 12k miles
48 months 12k miles
Does anyone have the money factors and residual for March on the ES350?
36 months 12k miles
48 months 12k miles
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The ES350 is on TV for 399 per month without tax, title. How much more per month should it be if the only change is to a car with NAV, and no cap cost reduction. (Still without tax which is paid by buyer up front to the state).
Thanks!
Just sign up for this lease... hope did not get ripped off.
Cap: $38,454
Residual: 46%
Term : 48 months
Rent Charge: $5,104
Down Payment; $1,000 (includes tags, etc)
Miles: 12k/Year
Monthly Payment: $550.18
Premium Package w/ Nav back up camera and all the toys.
I think you have it right. No tax in MS? wow I am moving there. Make sure the lease does not have a termination fee if you want to return the car at the end. $900 for a tag? wow~!.
I just got my es350 for $550 a month. All toys
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I can work up a sample lease payment on a similar car for you to give you an idea of what it would cost to lease right now. According to my calculations, if you were to lease a 2007 Lexus ES 350 with the Ultra Luxury Package and Navigation that has an MSRP of $43,615 and a selling price of $39,200 (a little over $1,000 over invoice) through Lexus Financial Services right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $586. As you can see, the lease that you are considering assuming is nothing special. The only advantage to assuming it is that it is shorter than 36 months. I personally would pass on the assumption and go with a new car.
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The Window sticker on the car says $41,322.
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I wanted to take time out to thank you and the people who post to this forum. I was looking to lease a ES350 three weeks ago and started doing research with the forum. I live in Tampa, Florida and I headed out with my numbers. I went to the Lexus Tampa dealer. I decided I wanted the Premium Package with Navigation. Total MSRP was $41,322.00. I called them back and offered them $37,200 +TTL. They agreed but then wanted to charge me .00333 money factor and when I questioned I was told that he dosn't even have to share we me the money factor by the leasing manager. That this was the rate and he had been to Lexus financial and different banks. They think you just fell off the back of a truck. (Oh yes and I'm a female). I have Tier 1 credit. I was sure they were trying to make up the difference in the price of the car on the financing. I then e-mailed the Lexus dealer in Sarasota and within one day had my terms. $37,200 + TTL, 57% residual, money factor .00275, for 36 months and they had to order my car so I could have the color I wanted. I'm picking up my car tomorrow and I feel good about the deal. If it wasn't for your site and reminding people to contact different dealers I would have been paying a much higher payment. P.S. It felt good when the first dealer called back and asked if I was ready. LOL
What was your final monthly pmt, lease term, miles, money down ect.....
thank you for your input
A friend of mine leased a 2007 ES350 with the $7,230 options package back in January. He walked out paying $36,250 (leased of course). I am negotiating the same deal right now. What would the current money factor, residual value, and monthly payment be for a 48 month lease (assuming no T/T, no capital reduction, and 15K/year)? I'm Tier-1+ credit.
Thank you in advance!
I have two questions for you, most helpful of board moderators:
What is the highest Lexus goes on annual mileage for a lease?
Could you tell me the buy rate on the MF and the residual value % for a 24 month lease on a 2007 ES 350 for the highest they will go on the miles? 20K is perfect.
Thanks,
Zona330
I might not have enough info to get an answer - I've been to my local dealership (where I leased an ES330 39 months ago which I'm selling to a 3rd party) and also have talked to a dealer on the phone - 200 miles away.
The local guy said:
2007 ES350 smoky granite w/black interior & premium package
MSRP (edmunds)= 36665
sticker at dealership = 38800
selling price = 36202
48 months / 12K
pmt = 527.50 with 2334 drive-off (no sec dep / no cap red)
or pmt = 551.76 with 1334.76
those drive-off figures include 1st month + tax (.0275%) + tags + dest chg -- not sure what else or exact breakdown
Talked to guy in NJ (200 mls away so that's a pain)
same car
same 48 mo / 12K
499 pmt / 1453 drive-off (1st month + 600 bank fee + 155 tags + 199 doc fee)
Before I tell the local guy how low he needs to go to beat the distant guy I wanted to see if that 499 / 1453 sounds okay. Let me know if I need to give more info. I don't know the residual either is using. My credit is top tier. Thanks for any advice.
drive off 550.65 plus OC tax= 593.33...do not have the time or patience to deal with all the dealership drama.. What is the right lease price, anyone have a pleasant experience in Orange County, CA
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According to the latest information that I have seen, Lexus Financial Services' buy rate lease money factor and residual value for a 24 month lease of a 2007 Lexus ES 350 with 15,000 miles per year are .00275 and 60% for consumers who qualify for its Tier 1+ credit tier.
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