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2013 and earlier Lexus ES 350 Lease Questions

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  • lexlease1lexlease1 Member Posts: 7
    Thank you for all of your help Car man. I figure the tax to be around $80/mo so a payment of $640 would be in the ballpark. They came down to $695, but I keep trying to discuss net cap cost and of course they keep focusing on the payment only. When I layed out the formula for them and it didn't add up, all of the sudden numbers changed and extra fees popped up. I became fed up and stalled the deal. I told them they could do the math however they wanted as long as the payment was $625. I don't mind paying a fair price and allowing the dealers to make a fair profit, I just can't stand the games that get played.

    Lexlease1
  • captjmacaptjma Member Posts: 2
    36 month lease, es 350, msrp 40700 ,16000mi/yr , capt cost 36850 , 2500 out of pocket total . residual, money factor aprox monthly payment massachusetts has a 6.25% sales tax
  • captjmacaptjma Member Posts: 2
    i could use some help. i would like to know what the money factor and residual is for a 2010 lexus ES 350 msrp 41700, 16000 miles/yr $2500 total out of pocket , cap cost 36850 based on their Dec to Remember Program you ask a dealer an you get different answers sales tax in Ma is 6.25% . I deploy just after Christmas and would like to take care of this for my wife. thank you for any help captjma
  • thealamo77thealamo77 Member Posts: 2
    Working on a lease, need quick check
    is the ES 350 lexus MF .00215 and 58% resid for 15k on the national december to remember offer
    this was quoted from dealer as the LF deal
    waiting on the particulars. This will not be UL package
  • birdman17birdman17 Member Posts: 10
    Hello,

    Need help. I'm looking to get some success stories on leasing the 2010 ES350 in Pennsylvania.

    I hope that the $536/month deal that "wokscott" got will fly in PA. Please let me know.

    Thanks.
  • smarty666smarty666 Member Posts: 1,503
    well I can't speak for what the dealerships are offering now, but when I was shopping the ES and RX earlier this year, two separate dealers in eastern PA gave me outrageous lease quotes with a ton of money down; when I went back to NJ, where I live, all three separate dealers I went to in NJ were all lower on the lease payments and on the money down and much more reasonable and able to deal with

    I've read other people on edmunds run into the same problem with the PA Lexus dealers; suffice it to say I'm talking about two dealers in the eastern part of PA, if your out in the central and western part of the state it might be entirely different!

    Best of Luck to You!
  • birdman17birdman17 Member Posts: 10
    i live in Eastern PA so I will be able to give feedback about your experience as well. I am beginning to start to shop because my current lease expires the end of January. What kind of deals did you get in Jersey?

    I have no problem taking a drive over to get a better deal.

    Thanks in advance.
  • smarty666smarty666 Member Posts: 1,503
    well I could spend about an hour explaining all the different offers I got but here is just one quick example:

    on a 2010 RX350 AWD with Comfort, Premium, Nav, Nav Audio Package, msrp was about or around $45,600 at the time, this was before Lexus changed the base prices this fall

    at one of the PA dealers, I was offered on this RX350, $4000 down, $710 a month for 36 months with 12k miles a year

    this offer, which was non-negotiable by them, was obviously outrageous, so I returned to my home state of NJ and recieved a negotiable offer which I was able to get down to the offer below for the same RX350 and this was the lowest I was able to go

    I was offered on this RX350 in NJ, $3000 down, $590 a month for 36 months with 12k miles a year

    so as you can see, the deal I was offered in NJ was much better then in PA, I had two other NJ Lexus dealers that were half-way between the lowest price I got in NJ and the highest price I got in PA

    unfortunately, my financial circumstances changed and I was not able to get the RX350; keep in mind this was back in June and July when I was shopping around at the Lexus dealers and at that time Lexus was not offering any good leasing support for the RX

    my example is just another reason why it pays to shop around whether your leasing or financing; I've heard on here that starting in October this year the leasing got much better for the RX so hopefully people looking to lease one now are getting great support from Lexus and really good leases!!
  • leaseguy1leaseguy1 Member Posts: 1
    im helping my mom suprise our dad for his 65 birthday and she wants to lease him a es350 base, Does anyone know the current money factor and residual for a es 350 base, for 36 months, 10,000 miles ea. year. i know there having a december to remember special, 1 dealer told me the MF is .00265, that sound not true, can someone help me please!
  • birdman17birdman17 Member Posts: 10
    CarMan,

    I just got back from the dealership and I wanted to see if you think they gave me a good deal. I did not accept this deal yet. I want to see if I could get a better deal. The salesman said that I would be paying about $1,000 over invoice.

    2010 ES350 with NAV, etc.
    MSRP: $40,840
    Purchase Price: $38,340
    MF: .00215
    Residual 60%
    12K miles/year
    36 months
    $800 down payment
    $589/month

    Let me know if you think I could do better. ;)

    Thanks.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, lexlease1.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello leaseguy1. Here's the info that you're looking for. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2010 ES350 with 10,000 miles per year are .00215 and 61%, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi birdman17. The money factor and residual value that you were quoted look great. $1,000 over dealer invoice is a decent deal, but I would not be surprised if you were able to shave another couple hundred dollars off of the car's price if you are in an area that has a decent level of competition.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi captjma. Here's the information that you're looking for. Lexus Financial Services' December to Remember buy rate lease money factor and residual value for a 36 month lease of a 2010 ES 350 with 15,000 miles per year are .00215 and 58%, respectively for consumers who qualify for its top aka Tier 1+ credit tier.

    Car_man
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  • mowermower Member Posts: 18
    Car_man

    I live in Southern IN. Just left Lexus dealership. They indicated the MF .00235 and the residual of 59% for 36 months - 10,000 miles per year. This is for December.
    Does this sound right to you?

    Thanks much, mower
  • johnvajohnva Member Posts: 3
    It seemed good, so we went for it:

    MSRP: $40,850*
    Sales Price: $38,138
    Lease term: 36mos./10k
    Monthly payment: $525/mo
    Taxes & all fees paid up front. No cap cost reduction.
    Residual: 61%**
    Money factor: .0025**

    * I guess what we have is Premium Plus w/ Nav. But it was never referred to as that. I know it's not Ultra. No Mark Levinson.
    ** I calculated these by working backwards from the numbers, so I'm not entirely sure that they are correct.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congratulations on getting your new ES, johnva. Thanks for taking the time to share the details of your lease with everyone. If you haven't already, make sure to stop by the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience with others as well.

    Enjoy your new ride :shades: !

    Car_man
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  • ajgabbyajgabby Member Posts: 2
    Car_Man
    I could use some help. I live in NJ and got the following deal pending after visiting 4 dealships here.

    MSRP 41,700
    Selling 36,967
    MF 00245
    Residual 60%
    Fees and up front taxes 3,214.
    Monthly Payment $500

    Would like your thoughts on this. Any room to work with?
    Thanks in advance for your help
  • achilles11achilles11 Member Posts: 30
    Hey guys. I just got back from the Lexus dealership and am almost ready to sign for a 2010 ES350 silver with black interior and navigation package.

    Here are the numbers tell me what you think PLEASE!

    2010 Lexus ES350
    All options except Ultra Luxury

    MSRP $40,840
    Selling Price $37,151

    58% Residual
    15k miles per year for 36 months

    $705 due at start

    $23,687.20 Buy Out

    Tier 1 Credit MF is .00245
    Tier 2 Credit MF is .00255

    Total: $600.72 per month

    What do you guys think? Anymore wiggle room? He said he was giving me the car at basically invoice. Please let me know ASAP. Thanks again.

    J
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi ajgabby. The car that you're interested in has a spread of around $4,000 between its full MSRP and its dealer invoice price. The $4,700 dealer discount that you were quoted looks excellent to me. I doubt that you are going to be able to do much better than that.

    Just make sure that the dealer uses Lexus Financial Services' new February buy rate lease money factor of .00215 (for consumers who qualify for its top credit tier) to calculate your car's payment and you're in business.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi achilles11. the money factors that you were quoted for this car are too high. Lexus Financial Services' February buy rate lease money factor and residual value for a 36 month lease of a 2010 ES 350 is only .00215 for consumers who qualify for its top aka Tier 1+ credit tier. If you have excellent credit, make sure that the dealer uses this money factor to calculate your car's payment.

    Now let's look at the other important factor that determines whether this is a good deal, this car's selling price. The car that you are interested in probably has a spread of around $4,000 between its full MSRP and its dealer invoice price. You were quoted a dealer discount of almost $3,700. That probably puts you at only a couple hundred dollars over invoice, which is a very good deal.

    Just get the money factor issue straightened out and go for it.

    Car_man
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  • abuyusufabuyusuf Member Posts: 4
    I have been working on leasing an ES350 for couple of month now. Just got my car yesterday. Here are the numbers:

    MSRP: 41,215
    Neg Price: 36,300
    MF: 0.00215
    Down: 0
    36K/3yrs
    Monthly payment: $458/m
    I did pay security deposit, that will be refundable.

    Didnt see this low deal on the forum anywhere, so just sharing.
  • lorjas2klorjas2k Member Posts: 5
    I am working with two different dealers on a ES 350 lease. Here is the better of the two offers - payment seems high compared to what I have read in this forum.

    ES 350 w/ Nav, Park Assist, Rear Spoiler & 17in Alloy wheels
    36 months
    10k miles per year
    $500 down
    Monthly Payment - $606
    MSRP - $41,534
    Sales price - $39,034
    Money Factor - .00215
    Residual - 61%
    Sales Tax - 7%

    Any input you may have is greatly appreciated.
  • lorjas2klorjas2k Member Posts: 5
    If you don't mind me asking, where did you get this deal?
  • thepostmanthepostman Member Posts: 49
    Does that monthly payment include sales tax?
  • gs451gs451 Member Posts: 19
    Hi,
    Could you please e-mail me the details of this lease? @ greenpak07@yahoo.com
  • 10sfan10sfan Member Posts: 136
    I would also be very interested on what dealership you worked with on this lease. Please share it with us.
  • macpromacpro Member Posts: 52
    We were going to lease, but decided to purchase our ES350 yesterday since we got 2.9% for 60 months.

    Here are the lease details we were originally going to go with:

    MSRP $41, 555.00
    Selling price: $38,300.00
    12,000 miles per year / 36 month lease
    $1,512.00 down
    Monthly payment: $555.00
    Money Factor .00215
    Residual: 61%
    Sales tax 5.1%

    We would have put down $1,012,00 more than your deal, but saved $1,836 over the 3 years. Our sales tax is lower, so that contributes to part of the monthly savings.
  • 9210192101 Member Posts: 4
    $2500 driveoff, 36 mo. 15K/yr based on $36300 invoice, $431/mo lease. Is this a good deal for ES?
  • 10sfan10sfan Member Posts: 136
    Need to know what was included in the $2500 down payment. How much was for a cap cost reduction vs title, tax,license and processing fees?
  • 9210192101 Member Posts: 4
    Thanks for the reply,
    Its now 409/mo + tax w 2200 total drive off 10K/yr miles 36 mos. I don't have the breakdown but it includes all of the above and the 1st month, so guessing 1k cap cost. Same extras including nav.
    Thanks again
  • newcar76newcar76 Member Posts: 1
    that's a great deal. where did you get this deal? state and dealership. thanks!
  • 9210192101 Member Posts: 4
    Thanks,
    I did the deal at Park Place Lexus in Orange County (LA) CA. By the way, I turned in an 08 IS and there really is no comparison. This is a great car for the money.
  • slamshifterslamshifter Member Posts: 42
    In Ohio and seeking one of these great deals on ES350 w. Nav pkg aforementioned on this thread...36mos/15K miles...$1,000 down; plus TTL. My latest quote was $41,500 MSRP with only $1,000 off the sticker. Thanks in advance.
  • amg61amg61 Member Posts: 18
    Does anyone know the current money factor and residual rates for the 2010 ES 350 with 15K miles per year

    Thanks.
  • thy_gallantthy_gallant Member Posts: 14
    My 2007 ES350 Lease ends in May 10, I am considering purchasing it. What is the interest rate Lexus Financial is currently offering for lease end purchase?
  • 10sfan10sfan Member Posts: 136
    Cannot answer your question. However, I just purchased an Acura MDX from AFC via the dealer. Hope your purchase goes smoother... In retrospect, should have sent my money direct to AHF, but I wanted an extended warranty. This was only after the cost of certification became ridiculously expensive by their standards and dealership service charges. Accordingly, did not get the lower AHF company financing rate either,

    I plan on leasing a ES 350 to replace an aging Acura RL this spring, hence my interest in this forum.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi amg61. Here's the information that you're looking for. Lexus Financial Services' April buy rate lease money factor and residual value for a 36 month lease of a 2010 ES 350 with 15,000 miles per year are .00200 and 56%, respectively.

    Car_man
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  • amg61amg61 Member Posts: 18
    Thanks Car_man. Now that it's a new month, I was wondering if you have the money factor and residual rates for May for a 36 month lease with 15k miles per year, and if there are any significant changes and/or lease incentives? Thanks.
  • shaker58shaker58 Member Posts: 130
    edited May 2010
    Thanks to this forum saved over 25.00 a month. Dealer tried to mark up the MF to .00240 on us.

    MSRP: $38300
    Sales Price: $34850
    Lease term: 36mos./12k
    Monthly payment: $491/mo
    Taxes & all fees In payment. 1000 cap cost reduction. Paid by lexus Prior leasee rebate
    Residual: 58
    Money factor: .00200
    Also took back our 2008 lexus back 6 months early
  • bashinbashin Member Posts: 27
    What dealer is that from? How much over invoice should I be expecting to get? I am trying to find a stripped down ES with just the heated/vent seats and the spare. Should it be any worse than $250 over invoice not including the $1000 returning lexus discount?

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem, amg61. Here's the May info. Lexus Financial Services' May buy rate lease money factor and residual value for a 36 month lease of a 2010 ES 350 with 15,000 miles per year are .00200 and 56%, respectively for consumers who qualify for its top aka Tier 1+ credit tier.

    The only cash incentive that is currently available on leases of this car is $1,000 owner loyalty cash.

    Car_man
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  • nbtynbty Member Posts: 24
    long island ny send me a pm and will give you dealer info
  • scottyascottya Member Posts: 4
    Just introduced to the site and the information is fantastic. New at the lease option but looking at going for it on this car. Wanting to get your feel for a couple of things 1) current gap between msrp and invoice 2) whether some of the above mentioned scenarios included money down and strategy on this. Thanks
  • scottyascottya Member Posts: 4
    is anyone aware of any manufacturer to dealer rebates in may?
  • 10sfan10sfan Member Posts: 136
    Hi Car Man, How much higher is the residual with a 12,000 mile cap? Any advice on the dollar amount over invoice this late in the model when negotiating the sale price to establish the final sale price/cap cost?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi scottya. Lexus is not providing any dealer cash on the 2010 ES 350 in May. The only cash incentive that is available on this car right now is $1,000 loyalty cash to current Lexus owners who lease or finance a new ES through Lexus Financial Services.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey 10sfan. LFS' adds 2% to its 15,000 mile per year residual values for leases with only 12,000 miles per year.

    If I was in the market for an ES in an area that has a decent level of competition right now, I personally would shoot for a selling price of around $500 over invoice and see what happens.

    Car_man
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  • 10sfan10sfan Member Posts: 136
    Thank you Car-man. Hopefully within the greater Chicago and Southern Wisconsin
    marketplace I can locate an ES 350 with the equipment desired and get to that target price.
  • scottyascottya Member Posts: 4
    Car_man, thank you for info! Wanted to confirm with you and the forum that thru my reading that the may residual rate on 36 mo 12k mileage should be 58% and the current may money factor is .00200. Thanks a ton.
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