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2013 and earlier Lexus ES 350 Lease Questions
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Comments
Lexus es 38,300 msrp
59% RES
.0018 MF
3789 down payment.
I came up with a bottom line lease of 491 per month for 36 months.
How are they offering it for 389 pm? Is this a good deal. Can I get it lower or the same with less of a down payment. Not looking for GPS. Just leather
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I am torn b/w a 2011 es 350 now vs a 2012 in dec. I am getting a 10k/3yr lease for $43061 MSRP for 534/mo (tax included)--sale price 39972. 850 down and tax "waived". I am a current owner, so $1000 loyalty is included. Should I wait? I have tier 1+ credit.
Thanks.
Dealers play this game on the stated residual and true market value. Had the same problem with two Acura Dealers. I walked.
Last night, I paid a visit to Inifiniti. Picked up a 2011 AWD G37x with premium package for invoice plus received $3000 for the trade. Total payment: $371 per month (after taxes) for 39 months and 12K per year with absolutely zero down - sign and drive off. Bottom line: The dealer actually wanted to sell me a car! Lexus just lost a customer.
Got a 36/12k 2011 ES nav lease:
MSRP: 42985
Sale: 39567 (including extra 250 for window tinting)
Residual: 58%
MF: 0.001875
Payment:546/mo
1000 cust loyalty goes to 1st month, title and cap reduction
Good deal?
also got charged 700 acquisition fee and 145 doc fee....are these fees legit?
Thanks.
As far as the selling price that you were quoted goes, there's a spread of around $3,500 or so between this car's full MSRP and dealer invoice price. That's pretty close to the discount that you were quoted, making this a very good deal.
The $700 acquisition fee that you mentioned is correct. The doc fee will vary from dealer to dealer, but $145 is not outrageous...provided that the car's selling price is attractive other than that, which it is.
Car_man
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Do you have current or October money factors and residuals for the ES350, no options, 36 months, at 10k and 12k? Much obliged.
Lease-end value (I assume Lexus's term for residual) were
53% @ 10k
52% @ 12k
50% @ 15k
Money factor was relatively nice at 0.00095
The car was
MSRP $40310 (the heated seats package plus some other minor junk)
Sale price $37000
Doc fees are a little high at $422.94.
With CT sales tax, monthly payment at 10k miles is $520.88
I think there's a little more value to be found in the sale price and doc fee. Hopefully another $500 total.
But what's up with that residual? Did they just fall off the cliff because of the impending arrival of the 2012s? Or is the dealer messing with me?
What's the likelihood that the 2012 residual will be enough higher to make up for the interest rate jacking I'm sure they'll also do?
The residual value for a lease with only 10,000 miles per year would be 1% higher.
When negotiating your deal on this car, make sure to take advantage of the $1,000 cash incentive that is currently available on it.
Car_man
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Having said that, there is a $1,000 dealer cash incentive for everyone on this model on top of the loyalty / conquest offers.
Car_man
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You definitely should not pay $5,000 at signing to lease any vehicle. Consumers can and should put as little money down as possible when leasing. This means not making any capitalized cost reduction. Consumers who make large down payments on leases risk losing part or all of the money that they laid out if their vehicle is totaled in an accident or stolen and never recovered.
Car_man
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I shall appreciate your valuable input.
Lexus will likely offer some attractive deals for its annual "December to Remember" sales event, which will probably begin at the end of November. It is difficult to say whether the deals that are available then will be better than the deals that are available today.
Car_man
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Car_man
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Thanks Snowman 22
heated seats, no nav, wood trim, that stupid 3-piece accessory package with the wheel locks, and maybe one or two other minor things. I really didn't want any options.
Invoice was $35,886, which they then applied the $1,000 dealer incentive to, so my sell price was $34,886. I traded in my old car for $4k, which I applied as a cap cost reduction (I know that's not recommended, but it wasn't cash out of pocket, made the wife happier with lower payments, etc.),
so the payment is around $417 for 36 mo/10k miles. The dealer's doc fees were a little high, but I did get them to waive that ridiculous $199 "vin etching." All in all, I'm pretty happy with the deal. I waited until end of month, end of model year, and car_man's advice has been to aim for $500 above invoice, so even with the doc fees I think I did pretty well.
Lexus of Westport.
Am interested in a 2012 ES350 3 year lease. Can you please provide the Lexus Financial Services' money factor (for top tier 1+ credit) and residual for 10K miles/yr and 12K/yr. Thanks!
Howdyman
Car_man
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Car_man
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It sounds like you did very well. Congratulations on getting your new car and thanks for taking the time to share the details of your deal with us. Enjoy your new ride :shades: !
Car_man
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The residual value for a lease with only 10,000 miles per year is 1% higher.
Car_man
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Since I was only going to keep this vehicle for 3 years with a low mileage lease to replace an Acura, I looked at all options in my price range.
Again, Who is kidding who?
No dealing with either of them. Ford/Lincoln makes a good vehicle, pricing was right and they wanted, yes wanted my business and made the best deal by far.
I posted this in one of the other blogs but was redirected here.
I am looking to lease a 2012 lexus or audi and would like your opinions. A friend of mine just got a lexus ES 350 touring edition (MSRP 40275) for 7000$ down and 300/month. Is that a good deal? This is in New jersey. While I am currently leaning towards the lexus I want to know if the above is a good deal and if I should try to get the same.
What are your thoughts?
Thank you for your help.
can you please provide tier 1 money factor and residual %age (36 months) for this month in NJ/NY area for ES350 and GS350.
thanks!
The numbers for an otherwise identical lease of a 2013 GS 350 are .00190 ans 63%.
Car_man
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Please provide the money factor and residual value for 10k/36 month lease. I am being quoted price of 35k for afar with MSRP of 39k. Does that look good? I am also being charged $700 bank fee and $300 dealership fee. I am being offered $1000 as a loyalty payment (I currently own a lexus).
I am being told that the residual value is 58% and money factor is .00105. I am looking in northern Nj.
Thank you.
A $4,000 discount on this car is pretty good.
Car_man
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443 was with taxes (7%). 36 payments of $443, no other fees. Hope this helps.
Then in Dec. 2011 my boss leased the same vehicle from the same dealer and got it at 520/mo but claimed that he did not pay any sales tax. Ever since I've wondered how he paid nothing down or even sales tax. Is this possible? I've tried to look into it but I thought you were required to pay NYS sales tax up front.
Could someone please explain how NYS sales tax works in a lease and what are the permitted acceptable fees that we should pay at the commencement of a lease.