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2013 and earlier Lexus ES 350 Lease Questions
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I am having trouble with the lease calculator. What I would like to know is what the payment should be given all of the same info for closer43 (same car and lease details) except for a no-money or minimum down payment. Would it just be about $5000/36 (around $140) more per month?
Thanks.
Just for clarification as I am in Orlando and considering a lease on the 350, you put $5,000 down and are paying $458/month? For 36 months and 12,000 miles and this was on a vihicle with a 37k sale price?
Please confirm if I read your post correctly.
Thanks,
Lukesdaddy.
Does anyone know what the spread between MSRP and invoice is on a base model 08' ES? It is not on the Edmunds yet. Also do we know what the current money factor and risdual are for excellent credit rating?
Thanks,
Lukesdaddy
I can also lease a 2008 Lexus RX 350 Premium Package Plus 2WD (No NAV) for $568 a month. My terms are 36 months, 15,000, $1,000 downpayment, CAP COST=$37,360, Residual=$23,237.
What do you think of these two deals? How much/can I get the dealership to lower the monthly payment?
I can also lease a 2008 Lexus RX 350 Premium Package Plus 2WD (No NAV) for $568 a month. My terms are 36 months, 15,000, $1,000 downpayment, CAP COST=$37,360, Residual=$23,237.
What do you think of these two deals? How much/can I get the dealership to lower the monthly payment?
36 months, 15,000 miles per year
$925 down
$588 per month after taxes (of 7.25% in CA)
What do you guys think??? (FYI - my credit score is around 775)
Thanks!
Car_man
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The MSRP is $37,387 (includes destination), the selling price is $33,904. Term is 36 months, 15,000 mi per year. My down payment is $925 with $588 in monthly payments. My credit score is 764. Is this a good deal? THANKS!!
Heidibrat
And oh yeah--my credit score was (unfortunately for me) quite a bit lower than yours...meaning that the rate I got was probably higher than what you may very well wind up with...thus making it a bit more harder to understand how your monthly payment could be the same as mine.
FWIW--I notice you're in Roseville, CA (I'm from Rocklin); you wouldn't happen to be getting those quotes from Lexus of Roseville? I ask because when I was shopping for mine, L of R would not even touch the deal I got from Coliseum Lexus of Oakland (that was back in 8/06, but I would imagine L of R still won't be willing to compete w/ many of the Bay Area Lexus dealers since they really believe the majority of folks who live in the Roseville/Rocklin area must be earning tons of money). Guess where I wound up buying my ES from? Definitely not from Roseville...
Hey car_man sent this to your email but repeating it here to make sure:
Hey carman;
i've least a couple of Lexuses(or Lexi) in the past. Both times I was able to use multiple deposits to lower the money factor. Was also able to do this with a BMW lease. Do you know if it is still possible with Lexus and what the discount would be per deposit? I believe the last time (on a 1999 GS400) it was .0001 per deposit.
espo1 :confuse:
I must admit that I am a beginner. I have not owned a car in seven years as I had a company car, however, a job change is requiring me to assume a personal car. That being said, I will only need a car for about 24 months and therefore am considering leasing. I have never leased before.
I want to lease the 2007 Lexus ES350 (UL and NV option packages) for 24 months (FMV=$39574), with little or no money down and 12-15k miles per year. My credit score is 755.
*I need to know what difference the downpayment makes in terms of anything beyond lowering your monthly payment?
*What difference will the 24 month period make positively or negatively in the lease negotiation?
*Is it better to lease directly from a dealer or using a third-party such as my local credit union?
*I need tinted windows, as I live in AZ, how is that negotiated
*Any other general tips as I begin to dive in?
Thank you in advance,
Nervous to lease
Premium Plus Package Includes:
- Leather-trimmed interior
- Heated and ventilated front seats
- Driver's seat power cushion extender
- Lexus Memory System to control power driver's and front passenger's
seats (except lumbar), outside mirrors and steering wheel
- Electrochromic outside mirrors with tilt-down in reverse
- Rain-sensing intermittent windshield wipers with mist cycle
Additional Options:
- Wood- and leather-trimmed steering wheel and shift knob
- Bluetooth® Audio
- Power rear sunshade
- Full-size spare tire with 17-in alloy wheel
- Rear seat side airbags
- Preferred Accessory Package (includes Cargo net, Trunk mat and Wheel locks)
MSRP is $38157...offered at $34798. Residual is $20604.78. First month down and monthly payment of $599 (includes 8.25% Tx tax) with a money factor of .0035. Everything sounds pretty good except the money factor as I believe it is a little high. The rep told me they can decrease the interest rate from 9% to 7.2%. Is this a good deal?
Anyone else recently lease one?
To be fair--sales tax can affect how much your monthly payment can be ($6 for every 1% at $600); however, if your monthly payments are $599 on a $34,700 purchase price...either the sales tax in your state is really high, or maybe your term is a 3 yr/15k mile one?
Are you sure about that money factor? Is it 3.55% or .00355? If so that would equal 8.52% APR. The 53% residual maybe OK you are way into the 2007 new car year. or because of the 39 month deal. Why 39 months? And not including sales tax. What state do you live in and what is there rate. In Pennsylvania although sale taxes is 6% leases are rated at 9%. O down is smart. Ask about buying down the money factor with multiple deposits.
I'm in the market to lease or buy a 350 and was wondering what you think my payment should look like. MSRP $41,322. Negotiated price $36,980. Tier 1 credit. Looking at a 36 or 48 month lease with 21k miles per. Does it make more sense to buy? Why don't you suggest to put more money down on a lease or pay it off up front to save interest expense? Thanks for any help.
Anyone know the specifics of "The Event" lexus is now advertising? Money factor rates? Terms, etc.?
Also, I would like to know what is the max no. of security deposits we can make at the time of the lease?
Thank you,
If you haven't leased this car yet, you're in luck. Lexus recently enhanced its special lease money factor on it to .00245 for Tier 1+ customers for its new sales event. If you use the aforementioned selling price and this money factor to lease this car you are getting a good deal.
Car_man
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In your post you asked about making a down payment when leasing. I always advise consumers against making them. The main reason that I do so is if your leased vehicle is totaled in an accident or stolen and never recovered, you run the risk of losing part or all of your down payment. You can and should lease any vehicle that you are interested in without making any sort of capitalized cost reduction.
I don't think that the length of your lease will make any difference in your negotiations, but keep in mind that generally speaking the shorter a lease is the higher its monthly payment will be. You will have to pay more per month to lease an ES 350 right now for 24 months than you would have to pay to lease it for 36 months.
The only way that you can take advantage of the special lease program that Lexus is running on this car right now is to use a dealer to lease one through Lexus Financial Services.
Car_man
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How long ago did you get that info? The amount of .0008 was given to me about a month ago. Does it change according to where you live or are the rates across the board? If you don't trust what a sales man says about the LFS rates where can you check to make sure what is being said is the truth? :confuse:
Having said that this car's selling price is pretty good, the money factor that you were quoted for it is not. Lexus is now running a special on the ES 350 that provides a special money factor of .00245 for Tier 1+ customers. This factor may vary slightly by area, but the factor that you were quoted is much higher. Make sure that the dealer uses a lower factor to calculate your car's monthly payment.
Car_man
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I always advise consumers against making down payments on leases because by doing so you are putting your money at risk. If your vehicle is totaled in an accident or stolen and never recovered during your lease, you may end up not being able to recover part of all of any money that you put down.
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Thanksfor all the great info. I got a quick question.. Who big is each additional deposit you talk about to lower the money factor by .00010? Is each deposit equal to a 1 months lease payment? if so what is the diffrence between doing this and making a down payment?
Thanks in advance.
blue
Thanks!
The residual on my lease is 60%--the higher residual on my lease (compared to the one you mentioned) could be due to a combination of the particular model I purchased (UL) and the fact that I purchased mine back in 8/06...meaning that I doubt a '07 model purchased in mid-'07 would still carry the same residual percentage as that of an identical '07 model purchased mid-'06...but I could be wrong here.
In any case--if indeed there is no sales tax on vehicle leases in your state, then based on the numbers you provided (including the revised lease term of 35 months), your pre-tax monthly payment calculates to roughly $640/month, so the quoted rate isn't THAT ridiculously far off...IF some sort of sales tax was factored into that quote.
My wife also has a ES300 2003 with only 32k on it White/Tan interior and have 4 payments of $525 left.
How does this factor into the equation?
Today at the Keyes Lexus in Valencia, Ca we were quoted first
$594 with $3500 and with the trade-in. Then after we squwaked because we already had 2 Lexus's from the same dealer they reduced the price. $564 w/ $974 down and 12k miles per yr.
In both cases the lease was 48 months and they never even did the credit check.
PLEASE!! What's your opinion.
Suggested price $38,200
12,000 miles per year
$450(including tax) per month
36 months
$3,000 out of pocket (includes tax and others)
Thank you for your input.
LEASE 12k 36MON.
0 DOWN JUST UP FRONT COST + 9MSD
$470 MONTHLY PAYMENT(INCL.7% TAX)
IS IT GOOD DEAL?
R.V. 55%
I have never leased a car before. I am considering a lease for an ES350. At the end of a lease, when you turn the car in, what determines "normal wear and tear?" If it is spelled out in the agreement, or if there is some standard practice used by Lexus to assess the car, could someone help me with some details on that?
This is the one thing about leasing that worries me the most, turning in a car and getting hit with unexpected charges.
What has been the experience with Lexus Financial?
Thanks in advance
Car_man
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