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2013 and earlier Lexus ES 350 Lease Questions
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"Special Lease & APR Offers
Now through September 30th, returning customers may qualify for our Customer Appreciation Award program. For details, see your Lexus dealer."
Car_man
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I was quoted 51% and .000995 for 36 month 12k lease for 2008 model. Is it a right or wrong?
Dealer in NY offered to sell the car for an invoice price $37680.00
with PPP,heat. & vent. seats,swivel lights, bluetooth, NAV, wood trim,,mats, nets
I can not get a $1000 rebate.How does it sound?
And one more for a lease. If I want to pay taxes upfront, what amount should I calculate taxes from?
Thanks to everyone who respond.
Car_man
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Car_man
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Car_man
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Looking for the MF and residuals for 10kmiles/year on the 2008 es350 for 36 months. Thanks!
Then, an additional 2% reduction from 12Kyr to 15K/yr.
This isn't universal, but is true for many makes/models.
On a $40K car, each 1% reduction in residual adds $400 to the lease cost, or about $11/mo. + tax to the lease payment.
Once you get over 15K/yr., then there is a standard charge for each mile, usually.
regards,
kyfdx
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What is the MF for Tier 1+ credit tier and residual for '09 ES, 10K/yr, 36 month for the NY/NJ area? thank you.
Car_man
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Car_man
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Car_man
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Looking for some feedback on this 36 month, 12K mi/year lease deal in NJ that I negotiated today. I think it's pretty good, but I'm looking for confirmation or feedback:
2009 Lexus ES350: Nav, Premium plus etc MSRP: $41,375
Negotiated selling price: $37,000
Bank Fee (700) DMV (187.50) Doc (249) Tire tax (14.95): Total: $1,151.45
Cap Cost: $1,700
First Month (including 7% sales tax): $456
Total Out of Pocket: $3307.45
Month Pymt (incl 7% sales tax): $456
Money Factor applied: .0009 (2.16%)
Residual: 53%
Do you guys think this is a good deal, or is there room for more? Looking fwd to the replies. If it's positive, I'll go get this thing tomorrow.
Car_man
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Car_man
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I am looking to surprise my wife with a lease for an 2009 ES350 premium package on or before Christmas if all things work out in my favor. I am extremely happy I found this blog as it has opened a few questions for me. I currently have a 2006 Volvo S40 with six months left on the lease. Payment on the Volvo including tax is $362.00 per month. I would like to have my Lexus dealership pay off that lease yet still have affordable payments on my new lease. Ideally 15k miles per month on my new lease. Based on what you guys have read in this post what can I assume my payments will be? Or at least can anyone give me a good starting negotiating point. Thank you.
Car_man
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Car_man
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Car_man
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36 months 10000miles residue 50% mf .000085
48 months 10000miles residue 41% mf .000085
can anyone confirm
2008 ES 350 w/premium package
MSRP: 37,796
Selling Price: 32,595
Residual: 53%
Money Factor: .0010
$1000 drive off (including 1st month's, title, reg, etc.)
456.89/month including tax
Good deal???
Could you please help with my math and leasing understanding?
Looking at 2009 ES350 to lease. (blk on blk) Eligible for $1000 loyalty money. Credit score 854 TransU,850 Experian, & 717 equifax. She is in the Atlanta GA area (Clayton County 6% tax)
MSRP on car is 41,395 Premium plus pkg. w NAV (other option that come with car is HL.PA,WU,BE,HN,FS)
Going to offer $37,000 for car, I believe the residual rate is 53% and the money factor that the dealer quoted me was .00105 for tier1+ credit (is the MF rate correct?)I saw elsewhere on site MF .0009
Inceptions
41.00 tag/title/lemon law
599.00 dealer fee
??? 1st month payment
(I was told Lexus charges 700.00 for new lease acquisition where does this get added to inceptions?)
So here go’s
msrp 41,385X.53=21,934
37,000-21934=15,066
15,066/36=418.50 payment w/out interest and taxes
(37,000+21,934)X.00105=61.88 is interest
61.88+418.50=480.38 payment with interest
480.38+6% cty tax(28.80)=509.18 total monthly payment
Is this correct or should the monthly payment on this car be lower? She would like to put zero down.
what is invoice on the car
36 months lease / 12k miles
Residual .55 or .53 (I don't remember)
Money Factor .0009
Any thoughts on this?
There are simple lease calculators online. Of course, if you are rolling the premaining volvo payments into the lease, then the number makes sense.
MSRP is listed as $37,950, and the purchase price at lease end is $18,596.
Is this a "deal" or not?
MSRP $42,795 x .53 (residual) = $22,681.35
$37,000 - $22,681.35 = $14,138.65
$14,318.65 / 36 = $397.74 payment w/o interest or tax
($37,000 + $22,681.35) x .0009 (money factor) = $53.71 interest
$397.74 + $53.71 x 7% tax = $483.05 total payment
However, when I went today to the dealer they had some totally different numbers. They had the same msrp, selling price, residual of .53 and money factor of .0009 as I did yet had my total payment at $527.16 !?!?!?!?!
The internet sales manager which I had negotiated with was off today so I didn't get a chance to speak with him, however, I don't understand why such the drastic difference.
They also had a Bank fee of ($700,) Doc Fee of ($699) Gov't Fee ($293.50) and Taxes of $1,2464.66 which they had calculated out of pocket I had to pay $826 to the dealer, which included first month, tax and title. The sales manager on the floor said his hard cost on the car was $38,060. I told them to fly a kite and I would go to another dealer. Are my calculations correct? or am I way off base?
PS. The amount owed on the Volvo was not used in any of my calculations since I found someone to take over that lease.
Also, I believe the difference in the price is due to all the fees that they have my incurring. Bank Fee, Doc Fee, Gov't Fee, Taxes. Can anyone confirm?
Try that link
Car_man
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Car_man
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As far as this car's selling price goes, shoot for as close to dealer invoice minus any available cash incentives as possible. You can look up this model's exact dealer invoice price over in the New Vehicle Pricing section of Edmunds.com. December is turning out to be a terrible month for new vehicle sales, even for Lexus. The sales at one local Lexus dealer that I spoke with are off 50% from December of last year. This works to your advantage in negotiations.
The last time that I checked, LFS charged a $600 acquisition fee on every vehicle that it leases. You can either pay this fee at lease signing or have it rolled into your car's capitalized cost to bake it into your monthly payment. If the dealer is trying to charge a $599 "dealer fee" on top of this, it is nothing more than a way for them to try to add hidden profit to your deal. Try to have them eliminate the fee. If they give you the whole, legally we have to charge it to everyone pitch just have them lower your car's selling price by that amount.
Car_man
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In short, the best way to get a good deal on a leased vehicle is to negotiate as low a selling price as possible on the vehicle that you want and then have the dealer calculate your monthly payment using its buy rate lease money factor. Manufacturers' official advertised lease specials are usually decent deals, however savvy consumers who are in an area that has a decent level of competition are usually able to negotiate lower selling prices than the one that was used to arrive at the advertised payment and in turn get a better monthly payment on their lease.
Car_man
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Thanks for all the help! This forum helped me to negotiate a pretty good deal on a 2009 RX 350 from a dealer that has lots of inventory of 2008s & 2009s. It occurred to me that the slow economy (Lexus sales are 35% - 50% lower than last year) have caught dealers with large inventories by surprise - and placed them in a vulnerable position. I'd like your advice on how to take maximum advantage of this buyer's market and strike the most aggressive deals possible by combining a number of purchases together under one deal.
I've been gathering a few people who are interested in buying/leasing a Lexus before the end of December (to take advantage of Lexus' December financing specials) but am unsure exactly what motivates a dealer to clear inventory at a loss and a salesman to agree to significant discounts in order to generate more sales before the end of December.
What options does a Lexus dealer have in clearing large inventory of 2008 models that isn't moving? Can it sell them to a partner at a discount, or does it have to sell to the public?
What type of financial pressures is the dealer under for month/year end sales?
In light of Toyota's devastating losses reported yesterday and a large inventory, do you think the dealer would be willing to take a significant loss on invoice in order to clear 5-8 cars before the end of the month/year?
Since Lexus has been discounting MSRP by up to 20% - I expect that a much larger discount would be considered if there are a number of sales made in a short amount of time - and of autos that aren't moving. Since none of us "need" the deal, we're only willing to do the deals if we're getting a significant discount - @ 40%.
Similarly - what carrot and stick does a Lexus salesperson have in selling 5-8 before the end of December? There must be a bonus based on number of sales vs. profit per car & there are likely going to be layoffs for lower performers.
Thanks for your feedback.
Interested in the 2009 ES 350. What are the current residual and money factor for the 2009 at 36 months and 12,000 miles per year? Many thanks.
The main reason why it is a good idea to lease a new vehicle at the end of the year is the level of manufacturer support that is available then is generally higher as manufacturers crank up their support to make their annual sales totals look as attractive as possible. Lexus' "December to Remember" sales event is an example of this. The lease program that Lexus was offering in December is much more attractive than the one that it is running in January.
Car_man
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