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2013 and earlier Lexus ES 350 Lease Questions

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  • Car_Man,

    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.
  • Hello I need some help and info on leasing Lexus RX 350. They have now December to remember and I was wondering if that deal can be negotated or that's it.
    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
  • Hi saprissa. Lexus is running its famous "December to Remember"' sales event right now. As a result, its lease offers on most vehicles are pretty good this month. This special lease program should not have any impact upon your ability to negotiate an attractive discount on this car's price. I would not be surprised if you were able to negotiate a $2,000 to $3,000 discount on one if you are in an area where there is a decent level of competition. Make sure to stop by the following discussion to see how much other community members have paid for this car lately: "Lexus ES 350: Prices Paid & Buying Experience".

    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.

    Car_man
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  • Hi vesines. If you need some tips on how to negotiate a c=good lease, make sure to check out the following article: 10 Steps to Leasing a New Car. Always remember that the selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Shop around and negotiate the lowest possible selling price that you can on this car and then have the dealer that you are working with use its "December to Remember" buy rate lease money factor to calculate its monthly payment. You should be able to get an idea of what sort of selling price you will be able to negotiate by visiting the following discussion: "Lexus ES 350: Prices Paid & Buying Experience". Lexus Financial Services' current buy rate lease money factor for this car is .00245 for consumers who qualify for its Tier 1+ credit tier. Let me know if you have any other questions.

    Car_man
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  • I'm considering leasing the ES250 however there doesn't seem to be any special pricing/rates for the December to remember event. Does anyone forsee any incentives for January?
  • Since this forum tells about prices paid by others I am wondering where to find the price for New ES 350 2007 with Premium package & Navigation. I am in Northern Californiaand would appreciate if someone can post dealershis with good deals.
  • My current Lexus lease ends Jan 2. I'm considering the new ES350. (my 4th Lexus) What is the best current money factor rate (tier 1), 36 month residual (15k per year) and cap reduction I should be working with for a loaded ES 350 est. $44AK msrp).
    Ron
  • I have heard that you can really get a good deal leasing or buying a car in January or even better in February. Has anybody heard the same thing??? Appreciate any response. This dealers are getting to me. They advertise one thing but when you get there well that car usually they don't have and the price has jumped $200.00 Man I am sick of them. I hate buying/leasing a car. I feel like I am at the flea market even there I can't bargain. I need help
    Thanks
  • Hi atlantarose. Lexus is providing lease support on the 2007 ES 350 in January. If you were to lease a 2007 Lexus ES 350 through Lexus Financial Services right now, its buy rate special lease money factor would be around .00245. Keep in mind though that you have to qualify for LFS' top credit tier to receive this special factor and that Lexus' lease program varies slightly by region.

    Car_man
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  • Hi mblover2. This forum is for community members to discuss leasing a Lexus ES 350. Try looking here for feedback on what sort of price you should pay for one: "Lexus ES 350: Prices Paid & Buying Experience".

    Car_man
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    Prices Paid Forum
  • Hi Ron. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 ES 350 with 15,000 miles per year are .00245 and 55%, respectively for consumers who qualify for its Tier 1+ credit tier. Lexus' lease program may vary slightly by region. For information on what sort of selling price to expect, check out the following discussion: "Lexus ES 350: Prices Paid & Buying Experience".

    Car_man
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    Prices Paid Forum
  • Car Man,

    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!
  • If you are interested in an Infinity or an Audi why are you in the Lexus lease message center?
  • what should the money factor be on 07 es350? this is for a 36mth lease with 12k mi. do money factors change month to month?
  • Welcome vegasjoo. Unfortunately, as you have found out 60 months is way too long to lease a vehicle for. Most consumers who lease for 60 months end up wanting to or needing to get out of their lease early. I am sorry to say that it is usually fairly expensive to get out of leases well before their scheduled end dates. In order to do so, you need to purchase the vehicle that you are currently leasing from the bank that you are leasing it through. It often turns out that it costs more to do so than your vehicle is worth on the open market. Furthermore, many banks expect consumers who end their leases early to still make all, or at least the depreciation portion of their remaining lease payments. As you can see, this can get very expensive.

    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.

    Car_man
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  • Hi oscar8. Lexus' current lease program is only scheduled to run through February 28th. It is not currently providing any lease support on the 2007 ES 350. As a result, if you were to lease one through Lexus Financial Services, you would have to use its standard lease program. LFS' buy rate standard lease money factor varies slightly by region, but it should currently be around .00275 for consumers who qualify for its "Tier 1+" credit tier. Its current 36 month, 12,000 mile per year residual value for the 2007 ES 350 is 57%.

    Car_man
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  • Does anyone have the money factors and residual for March on the ES350?

    36 months 12k miles
    48 months 12k miles
  • Anyone have these numbers?

    Does anyone have the money factors and residual for March on the ES350?

    36 months 12k miles
    48 months 12k miles
  • Hi rwarrencfp. Unfortunately, Lexus is not providing any lease money factor support on the 2007 ES 350 in March. As a result, if you were to lease one through Lexus Financial Services right now, you would have to use its standard lease program. Its buy rate standard lease money factor varies slightly by region, but it currently should be around .00275 for all terms for consumers who qualify for its "Tier 1+" credit tier. Its current 36 month, 12,000 mile per year residual value for the '07 ES 350 is 57%. Its residual for a 48 month, 12k lease should be 47%.

    Car_man
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  • Thanks Car_Man!
  • I got a lease quote for $617/mo for 3 yrs/36k with 0 down. Everything rolled into the payment. The MSRP was $41,700. The sale price was close to invoice of around $37k. I live in VA. Has anybody leased recently?
  • tocapallatocapalla Posts: 16
    HI! Please excuse a stupid question, but how do you get the residual value? I know it is a percentage of the MSRP, but how do you get this percentage? Also, has anyone used a Leasing service? Anyone used D&M Leasing in Dallas? Did they (or ANY service) save you money? I was thinking of using a service as there are no immediate Lexus dealerships, and the 1 that is within 200 miles of me will not deal. The service says they work with Lexus dealers everywhere and can get me the best deal. I was also wondering what the leasing co. gets out of it to make there leasing rates so much "lower"? Is there anything I should look out for? Sorry for all the questions, but dealerships DO tend to try and take advantage of women, and I want to be as fully prepared as possible THANKS for all the help in advance.
  • tdohtdoh Posts: 298
    When you ask, "How do you get the residual value?"--are you asking as to how to find out what the exact residual value is for a particular model...or how exactly is it determined as to what the residual value should be for said vehicle? If the former, then just ask your dealer; if the latter...I have no idea--maybe they throw a dart at a dartboard and whatever percentage value it hits, that's the value they'll go with? j/k!!! ;)
  • carluvr4carluvr4 Posts: 2
    Hi,
    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!
  • tocapallatocapalla Posts: 16
    Hello. I am thinking of assuming a lease of an '07 ES350, and need some help figuring out the final monthly payment. His lease of $607.00 includes taxes (6.5%-FL). In MS, my state, all I have to do is pay for the tag, which is about $900.00. YES, the amt. is correct. Anyway, do I just deduct 6.5% from the monthly payment? This gives me $567.55, which seems about right. Is this how it should be done? Please help, and THANKS in advance.
  • ramon159ramon159 Posts: 3
    Carman,

    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.
  • ramon159ramon159 Posts: 3
    tocapalla,

    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
  • tocapallatocapalla Posts: 16
    Help!! I'm really confused and do not know what to tell the person tomorrow about assuming his lease. The car is a '07 ES350 with UL package. MSRP was $43,383. Person told me he got it for $40,000, and he put $2,000 down. His 36 monthly payments are $607.00, including taxes. There are 28 months left on the lease. My monthly payments would be about $595.00, no termination fee. The lease end buy-out is $26,393.40. What I do not get is if he got the car for $40k, put $2k down,makes 36 payments totaling $20,431.62(without taxes), then why is the lease end pay off so high? That would make the total cost of the car, without taxes, to be about $46, 825.02. What am I missing here? Is this a bad deal? Should I take the $850. it will cost me to get it shipped and put it down on a new lease? All the dealers and leasing companies I've talked to were in the $700-$750 range with 0 down. PLEASE help! I do not want to miss out if it is a good deal, but do not want to make a very bad deal. THANKS ever so much for any help anyone can give me!
  • You're very welcome, rwarrencfp.

    Car_man
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  • Hi tocapalla. I am not aware of any resource that provides information on banks' current residual values to the general public. Having said this, I can tell you what this car's current residual value is. It varies by term and mileage allowance, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Lexus Financial Services' current residual value for a 36 month lease of a 2007 Lexus ES 350 with 15,000 miles per year is 54%.

    Car_man
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  • Hi carluvr4. I would be happy to calculate a sample lease payment on the exact car that you are interested in for you. I just need you to let me know what its full MSRP and approximate selling price are, along with how long you want to lease it for and what mileage allowance you need.

    Car_man
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  • Hello ramon159. What is this car's MSRP? This number will show me how much of a discount you are being given. Let me know and I'll tell you what I think.

    Car_man
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  • Hey tocapalla. Before assuming someone's lease, you really should compare the monthly payment of the lease that you are assuming with the payment of a similar brand new vehicle. It often turns out that consumers who want to get out of their leases early did not get the best deal.

    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.

    Car_man
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  • tocapallatocapalla Posts: 16
    Hey Car Man, thanks for all the advice. If I could find a NEW Lexus E350 for around the $586.00 you calculated, I'd sign on the dot right now. However, every Lexus dealer and Leasing company I've talked to are quoting me a price in the $700 range. Where can I find a car at near the price you quoted? I live in MS, and the few and far between dealers in this and nearby states don't seem to want to deal. I've even contacted dealers in TX and several other states. THANKS again.
  • ramon159ramon159 Posts: 3
    Carman,

    The Window sticker on the car says $41,322.
  • Hey tocapalla. If you are in an area that does not have a decent level of competition, the Lexus dealer or dealers that you have spoken with are probably trying to get close to full MSRP for the ES 350 that you are interested in. The higher your ES's selling price is, the more expensive it is going to be to lease. Plus, the payment that I came up with did not include sales tax, which can add quite a bit. All you can do to try to get a good deal on this car is shop around.

    Car_man
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  • Thanks for the additional information, ramon159. A selling price of $38,454 on an '07 ES 350 that has an MSRP of $41,322 is a decent deal. Your car probably had around a $5,000 spread between its full MSRP and its dealer invoice price, so the discount of $2,800 that you received is around $2,000 over invoice. It does not appear as though the dealer that you got your car from marked its month factor up.

    Car_man
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  • closer43closer43 Posts: 11
    Carman,

    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
  • eyeman3eyeman3 Posts: 1
    If i may ask
    What was your final monthly pmt, lease term, miles, money down ect.....

    thank you for your input
  • I've been out of the loop for a while, so I'm not sure what the numbers look like right now but ...

    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!
  • closer43closer43 Posts: 11
    My monthly payment is $498, lease term is for 36 months, 12,000 miles a year. I used money from my trade in of $5,000 to cover tax,title etc. I read that it is not a good idea to put so much down on a lease, but I wanted to get the payments down and I don't put alot of miles on the car. As in the case of the car I traded in, it was also a lease and worth quite a bit more because of low mileage, etc. Thanks again for your forum with so much information.
  • zona330zona330 Posts: 1
    Hi Car_man,

    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
  • closer43closer43 Posts: 11
    I picked up may car today. The payments were actually 458.00 a month not 498.00. Wanted to make sure I had that correct in case anyone else was looking for a Lexus ES350 in Florida. I had the best experience I've ever had buying a car with Jack who is the internet dealer at Wilde Lexus of Sarasota. No surprises everything exactly what we agreed to. Highly recommend them and they gave me a great deal. See previous thread. Thanks
  • sparky33sparky33 Posts: 5
    Can anyone advise?? Thanks in advance.

    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.
  • telman1telman1 Posts: 4
    Just started looking for ES350 base w/Nav $41,822 MSRP. Have been quoted $37,122 cap (Seems too high), $2000 down, 15K-3x
    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
  • You're very welcome, closer43. Thanks for the kind words. Congratulations on getting a good deal on your new car. You did a great gob negotiating. Enjoy your new ride :) .

    Car_man
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  • Hello znelson32. According to the latest information that I have seen, Lexus Financial Services' buy rate lease money factor and residual value for a 48 month Tier 1+ lease of a 2007 Lexus ES 350 with 15,000 miles per year are .00275 and 44%, respectively. This car's monthly payment will depend upon what its MSRP and selling price are. If you provide me with these numbers I will gladly run a sample lease payment for you. You may be able to get an idea of how much you will have to pay for this car right now by visiting the following discussion: "Lexus ES 350: Prices Paid & Buying Experience".

    Car_man
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  • Hey Zona330. The highest mileage allowance that Lexus Financial Services publishes residual values for is 15,000 miles per year. One can lease a vehicle through it with more miles than this, but in order to do so they have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until the end of your lease and have to pay an excess mileage penalty.

    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.

    Car_man
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  • Hi sparky33. Why is this car's sticker price so much higher than the MSRP that is listed for it on this site? Does it have dealer installed equipment or ADM (Additional Dealer Markup)? This prices should be pretty close. It is important to have the MSRP right, because the selling price that you were quoted either represents a $2,000 discount or almost no discount at all. There's a big difference there. Either way, I personally would try to get a selling price that is $500 to $1,000 over dealer invoice on a 2007 Lexus ES 350 right now. I suspect that the price that was used to arrive at the first quote you were given is higher than that. The second quote looks better, but it is difficult to say what selling price it is based upon. You should really find out this car's exact MSRP and selling price, along with the money factor that is being used to calculate its monthly payment before finalizing your deal.

    Car_man
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  • Hi telman1. The car that you are interested in has a spread of around $4,700 between its full MSRP and dealer invoice price. That is actually the exact discount that you are being given on it. This looks like a very good price to me. Just make sure that the dealer you are working with uses Lexus Financial Services' buy rate lease money factor to calculate your monthly payment and you're in business.

    Car_man
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This discussion has been closed.