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2013 and earlier Lexus ES 350 Lease Questions
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Comments
You never mentioned the selling price or MSRP of the ES 350 that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this what car's selling price is in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what these numbers are.
Car_man
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Car_man
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I don't believe that Lexus is providing lease support on the ES 350 in September. If you were to lease one through Lexus Financial Services right now for 36 months with 12,000 miles per year, your buy rate lease money factor and residual value should be .00285 and 54%, respectively.
Car_man
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Car_man
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Lexus Financial Services or the dealer that you are working with should be able to provide you with the specific guidelines that Lexus Financial Services uses to determine exactly what considered is excess wear and tear. Generally speaking, I have found manufacturers' captive finance companies, like LFS, to be very reasonable when evaluating vehicles for excess wear and tear at lease-end.
Car_man
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What is the residual value at lease end for the 2008 ES350 for a 36 month/10,000 mile lease?
Is the MF for 2008 same as 2007?
I am interested in leasing a 2008 ES350 with Navigation System.
Thanks.
I am a CPA assisting my Southern California clients in negotiating a lease on a
2008 Lexus ES350 Ultra+Nav+MarkLevinson.
They require a 15,000 mile/yr lease, 36 month term.
They have impeccable credit.
I would be grateful for your wisdom on these items:
. Lowest money factor
. Highest residual
. Sec Dep required? If so, lowest amount? & can it be capitalized?
. Lowest amount over invoice to pay [Edmunds shows ~ $1,500 for TMV]
. Your guidance for the dealer-installed high-markup-add-ons (where cost is not apparent): how to negotiate?
Much thanks!
And hope this assists the other enthusiastic folks who participate in this forum.
Car_man
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I am not personally all that familiar with the market for the ES 350 right now, but it is a pretty high volume vehicle and your clients are in an area that has a lot of competition. If I was in the market for this car under those conditions, I personally would shoot for a selling price of $500 over dealer invoice and see what happens. Make sure to stop by the following discussion to see how much other community members have paid for similar cars lately: "Lexus ES 350 Prices Paid and Buying Experience".
Car_man
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Terms: 36 months,15K-mi/yr - $5k out of pocket = $591/mo (includes 7.75% tax rate)
I assumed a 54% residual and the standard Lexus MF of .00275. Would the residual be higher for getting the car with the UL pkg.?
Just curious if the numbers they quoted me seem right, or if they hit me for some rate?
A few dealers tried to tell me that they get full-pop for ones with UL pkgs.??? I still think this is a $500 over car, any thoughts?
Car_Man, just curious where you get all your residuals and MF's from? I'd love to have access to all that!!! You subscribe to ALG or have someone in the biz??
As far as this car's price goes, if you are in an area that has a number of Lexus dealers within driving distance you definitely should be able to do better than full MSRP on this car. Make sure to stop by the "Lexus ES 350 Prices Paid and Buying Experience" discussion to see how much other community members have paid for their ES 350s lately.
By the way, you definitely should not make a $5,000 down payment when leasing. I always advise consumers not to make any capitalized cost reduction on leases. Those who make them risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered. You would be better off going with a zero down lease even though it means that your monthly payment will be a little higher.
Car_man
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Car_man
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I notice you gave the multi deposit buy down as .00010. Most dealers are saying it is .0008. Is this BS? That could mean a extar payment of about $500 over the cost of the lease. Also A fleet sales person said that one may pay the interest up front intsead of throwing money at the cap cost to reduce the nut.( alot of leases in certain states collect the sales tax monthly through the lease payment ie PA Is this good? If a lease is terminated for ant reason do yoiu get you a sales tax back on unpaid portion?
If you decide to terminate your lease early or your vehicle is totaled you will not receive a refund of the sales tax that you paid on it.
Car_man
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Car_man
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Could you please let me know what is the current Lexus 350 lease promotion under this year-end event?
I qualify for a Tier 1 credit.
Thanks a lot.
Thnaks for info.
The IS money factor is .00155 so the ES would be higher?
thanks..
All models' money factors vary (set by the bank). The IS rate is much better than the ES right now.
In regards to the MSD's. .00008 discount sounds about right. I've seen it from .00007-.00010. Unless LFS is paying you interest to hold "your money", no reason for a MSD. Just my opinion, of course.
Good luck!
Thanks.
MSRP = $38,405.00 incl. destination.
Any ideas on what a good payment would be?
I'm in the NYC area. Thanks.
Car_man
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According to my calculations, if you were to lease a 2008 Lexus ES 350 that has an MSRP of $38,405 and a selling price of $35,005 through Lexus Financial Services right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $539.
Car_man
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Thanks
Car_man
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I have been offered the following deal on a Lexus ES 350:
MSRP w/XM $37646
Sale Price for March $35000
Lease End Residual $18528.84
Money Factor .00205
36 mos. @ $619.59 w/$619.59 total down
What do you think?
I'm in the process of evaluating a first time lease agreement and I wanted to run the numbers by you to get your opinion.
For the 2008 ES 350:
MSRP $42,300
Sale Price $39,900
term 36 months
Residual money factor 54%
Money Factor .00265
The concern that I have is the money factor. Does this number look high to you? What's the typical money factor range and can this number be negotiated?
Also, is it recommended to go with as little money down as possible?
thanks,
Sextonm
24 month
12000 miles
MSRP 37,8000 (no Nav)
selling at invoice of 33861,
$1000 out of pocket,
62% residual, .
00155 buy rate on money factor,
payment of 545.88 +tax = 588.10 inc tax.
Offer ends by March 31.
Residual value is correct. Current LFS base rate is .00155. If your credit is 720+, you qualify for LFS Tier1+ credit tier and should be given the above rate. You need to ask for it, otherwise they'll take advantage and "mark the rate up" as they have done thus far @ .00265.
If you live in a competitive region, they need to reduce your cap cost (selling price) by another $2000-$2500 to get you right around invoice.
Lexus charges a $600 lease acquisition fee on this vehicle and most dealers will cap the cost into your lease, however, you can pay it upfront or as part of your drive offs. The figures below represent payments with and without the acq fee capped into your payments.
Judging by the numbers you've provided, they're probably quoting you between $638 and $655 + tax. Realistically though, with a more aggressive cap cost/selling price and utilizing the buy rate money factor, payments should be more in-line of $510 - $527 + tax.
Do not make a down payment/cap cost reduction on a lease. Just pay your 1st mo. and dmv fees upfront. Again, you can pay the acq fee upfront too, or cap it into your lease. There might be a security deposit required. Have to check, but willing to bet it's waived for tier 1 + customers.
ES 350 MSRP 37800
$2,812 discount
no NAV, but standard upgrade pack
tax included
acq fee rolled in
no down
1st payment included
15,000 miles per, 48 months
511.34 month
central ohio
by march 31
'08 ES 350 (non Ultra-Luxury)
36 Mo – Residual 52% – .00125
i am in dallas tx and was offered this weekend a lease for es350 with nav package
36 months 15k , $720 first payment (first month and tax etc)
monthly is 590
msrp was around 42500
sale price was 38300
are those good numbers?
thanks in advance
List price: $42025, selling price $3799, dealer cost $37930.80
Cash down $3500
Inception fee $694.94, excess /equity $2805.06
Residual value $21853 (52%)
Mileage adjust $840.50
Mileage adjust +2%
Annual miles 12000
Discount/Buy Rate .001350
Not having shopped leases in a while, how does this compare?
Thanks,
Phil
Phil
Car_man
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ES350 navi + prem plus + few extras
MSRP: 42314 (new price this week)
invoice: 37520
sale price = invoice price
no cap reduction
36mo/12K
Residual: 23117
$543 per month (incl 5% tax)
Is this a good deal?
Thanks!
Reason I ask: Based on LFS's current numbers, with the numbers you provided, that lease (including tax) should have you at monthly payments of $499.67. Now, if you capped all of the above into your lease payments so that $0 was due at inception, then $543 sounds more reasonable.
If this is not the case, they probably inflated your rate. Be sure that they are utilizing the base rate money factor of .00125.