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2013 and earlier Lexus ES 350 Lease Questions

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Comments

  • robynlrobynl Member Posts: 38
    CARMAN OR ANYONE WHO CAN HELP ME FIGURE THIS OUT.

    Just received a fax of lease numbers from my lexus dealer. Here is the case:
    MSRP $44084
    Agreed price 43084
    Term 36months, 15,000 miles
    No money down other than first payment and doc fee of $499 and cash down of $236 (not sure where they got this)
    These are the numbers they faxed to me:
    Agreed value $43084
    Gross capital cost $43719.18 (600 doc. fee+tax+other)
    Cap cost reduction $ 236.38
    Adj. Cap Cost $43482.80
    Residual $25568.72 (58%)
    Depreciation Charge $17914.08
    Rent Charge $8054.16 (I assume this is MF payment)
    Total of base MP $25968.24
    Lease term 36
    Base MP $ 721.34
    Tax 43.28
    Total 764.62

    QUESTIONS?
    1. What money factor are they using?
    2. Seems to me that instead of them charging me the depreciation over 36 months they are dividing the Residual value over 36 months and charging me that way. That's incorrect according to what I've learned on this forum. Am I wrong?
    3. What is the rent charge of $8054? Is this the money factor payment portion over 36 months? If so, way, way too high - $223/month. Forget it. I calculate about $176.

    HELP! I am speaking to the sales manager tomorrow and want to know what I am talking about!!! Aren't they trying to trick me into paying the residual value over 36 months and then tacking on the money factor payment over 36 months which is way too high anyway!!

    I would appreciate some feedback ASAP from anyone who can help me to know If I have this right?
  • robynlrobynl Member Posts: 38
    Do I have to pay the doc. fee. Do most people pay it or should I refuse?
  • robynlrobynl Member Posts: 38
    I think I goofed. I think they are charging some exorbetent amount for a money factor. They have added the Depreciation charge $17914 which is correct and then added the rent charge which is where they are screwing me by over $50/month if the money factor is supposed to be .00255. Can somebody figure what MF they are using????????????
  • kyfdxkyfdx Moderator Posts: 236,759
    Looks like they are using .00325...

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  • robynlrobynl Member Posts: 38
    Yes, that's what I just figured. That's ridiculous!! Isn't the residual more orless set by LFS and what do I say to the sales manager regarding this? I want to sound knowledgable and not be taken advantage of. Money factor cant vary that much!!
  • robynlrobynl Member Posts: 38
    What has been the money factor for those of you that have recently leased?
  • cablondebluecablondeblue Member Posts: 72
    I just got back from the dealership and have finally ordered an ES350. We negotiated for about two hours and I have a deal in writing but have not officially signed off on anything yet. They are ordering the car and it may take 2 to 4 weeks for delivery. (I thought I was all prepared but then when you get in there, after awhile, your head starts spinning.) I need your opinions if this is a good deal or not.

    UL Package with Mark Levinson Surround Package, DVD Navigation and Park Assist
    36 month lease
    15,000 miles
    MSRP - 44,286.00
    Price - 40,163.00
    Cash down - 2,800 (1000 is drive off fees and 1800 buy down. I know some of you frown on putting money down but I rather have a lower monthly payment. They said 1000 buys down approximately 25.00 per month.)
    Total Monthly Payment - 600.79

    Note: The residual when down to 58% from when I received a quote a month ago from another dealer. After the salesman gave me his first quote today, I showed him that quote and he seemed to have turned pale. He knew he had to match it and went down $138.00 in the payment in one shot. So I feel like that was that was a good move on my part.

    Please share your thoughts on this deal.
  • robynlrobynl Member Posts: 38
    Oaky folks, I need help quick. According to several posts on this forum the Money Factor should be about .00255. My Lexus dealerships (one in Lexington and one in Louisville) have given me a .00325. Can somebody please tell me if this is legit??? That converts to 7.75% versus 6.12%. What should I do. The difference in MF equals about $50/mo and I won't do that.
    Can anybody shed some light on this for me????????????
  • robynlrobynl Member Posts: 38
    kyfdx,
    Could you answer the post I just posted? I sure would appreciate it.
  • smith000smith000 Member Posts: 9
    If I were you I would tell them you are willing to let them profit on the vehicle and not on the financing. If they won't give you the buy rate, you're certain one of the other dealerships in the city/state/region/country will. No one says you have to buy the car from them.
  • cablondebluecablondeblue Member Posts: 72
    Robyl, the money factor is usually based on your credit score. If you know your FICO score (credit score), I would call around to other dealerships (even if they are out of your area) and see what money factor they would offer you. There are different tiers to the money factor. You have to find out what tier you fall into.

    Keep me posted.
  • robynlrobynl Member Posts: 38
    Cablondeblue, Thanks for responding. I should have mentioned in the post that my credit is in the 800 range which is Tier 1 credit and that is what I have been telling the dealerships. Lexington calculated lease on .00325, Louisville told me they didn't know where I was getting the .00255 money factor figure from and gave me about what Lexington did, Cincinnati quoted .00269 and Atlanta quoted .00296. What is going on here? These figures are all over the place.
  • cablondebluecablondeblue Member Posts: 72
    I did some research and found a post in the "Prices Paid & Buying Experience" forum from Car_Man Host on June 14, 2006, stating that the tier 1 credit money factor should be .00255. I know that I am tier 2 :blush: and mine is .0265. I don't know why the figures are all over the place. Lexington sounds like that are taking you to the cleaners. I am not sure if these Money Factors vary depending on what part of the country you are in.

    I am trying to do a little more research for you and see what I can find.

    (Sorry I didn't see your desperate post earlier. I was getting all involved in a discussion in the main ES forum. Since this Leasing Forum doesn't get much action, if you need a response immediately, try posting a quick question in the main forum. There are more people there.) :)
  • BushwackBushwack Member Posts: 258
    What minimum FICO score does Lexus consider to be Tier 1? 720…740…800?? Is the money factor based soley on the FICO score or do they also calculate what the debt ratio is (I assume that is what the FICO score is for)? Among the three credit bureaus, FICO scores can have as much as a 20 point spread. Does Lexus average the three or look at one particular bureau (which bureau?) to determine the money factor?
  • bernsterbernster Member Posts: 29
    Just got a ES350 with premium plus package 36 month 12k miles nothing down lease for $525 per month at Lexus of Kendall in Miami. Car listed for 40,900. Prices are coming down.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi robynl. Lexus just published a new lease program on July 26th. Lexus Financial Services' new buy rate lease money factor for a 36 month lease of a 2007 ES 350 is .00265 for consumers who qualify for its Tier 1+ credit tier. Your vehicle's rent charge is the total amount of interest that you are paying on it over the length of your lease. Vehicles' residual values are always based upon a percentage of their full MSRPs, including destination charges and the MSRPs of any options that can be residualized. Using Lexus' new lease program, an MSRP of $44,084, and a selling price of $43,084, I estimate that this car's zero down, pre-tax 36 month, 15,000 mile per year monthly payment should be around $647. At lease signing you would have to pay your car's first month's payment, Lexus Financial Services' $600 acquisition fee, and any required state taxes or fees.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi robynl. While there certainly are legitimate expenses for dealers that are associated with the sale of new vehicles, doc fees are really not much more than a way for dealers to add additional profit to deals. Vehicles' acquisition fees are different than doc fees though. All banks that lease vehicles to consumers charge acquisition fees. Lexus Financial Services charges a $600 acquisition fee on every vehicle that it leases. You can either pay this charge at lease signing or roll it into your car's capitalized cost.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi cablondeblue. The selling price that you were quoted on this car looks very attractive. It is probably right around dealer invoice. Using Lexus' new lease program, I estimate that if you were to put $1,800 down on a 36 month lease of a 2007 Lexus ES 350 with an MSRP of $44,286 and a selling price of $40,163 with 15,000 miles per year, your pre-ax monthly payment would be around $522.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi robynl. If you qualify for Lexus Financial Services' Tier 1+ credit tier the dealer that you are working with is marking up your car's money factor. This sort of thing is completely legal and happens all the time, especially with luxury brand dealers. If you have a good credit score, make sure to insist that the dealer you are working with uses Lexus Financial Services' buy rate to calculate your car's monthly payment. Its current buy rate lease money factor for a 36 month lease of a 2007 ES 350 is .00265 for consumers who qualify for its top credit tier.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Bushwack. Lexus Financial Services best credit tier is called "Tier 1+." If I recall correctly, I believe that consumers need to have a credit score of 730+ to qualify for this tier. I am not sure which credit bureau LFS uses though.

    Car_man
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  • beachbum_nybeachbum_ny Member Posts: 5
    Here's the deal:

    LEXUS ES 350 at NY dealer
    32 months
    10K miles
    MSRP - $38,379
    Neg Price - 36,700 ($1,700 off msrp)
    money factor - .00275 (sales guy said it was best around for tier #1 which i am)
    residual -69%
    Total Cash down - $4,600 (includes, taxes, 1st mo, $2,750 cap cost red, etc).

    monthly pmts - $425

    ..or no cap cost reduction down = $494/month (which seems better, but salesguy was even confused when he was running numbers).

    seems like a good deal, but want to be sure before i sign. thanks!
  • kstro135kstro135 Member Posts: 3
    what is the best lease i can get for the 07 ES 350 with premium plus (w/NAV) with paying only the first months payment MSRP $41095. I live in NJ. Thanks
  • lookingates350lookingates350 Member Posts: 2
    Car man I need help. I am looking at leasing a 2007 Lexus ES 350 in South Florida. The MSRP is $35,475. I have read posts from people stating the largest discount you can get is around $2000 to $2500. My credit score is above 740 with all 3 CRB's. The post on Aug. 1st by "beachbum" is for a 32 month lease $10K miles 69% residual.
    #1 What type of discount can I get off the MSRP?
    #2 What money factor should I be getting?
    #3 What do you estimate my monthly payment?

    thanks for your help.
    I will post with details after I lease so that others can use as resource.
  • lookingates350lookingates350 Member Posts: 2
    bernster. I am looking at leasing an ES350 in South Florida. Could you tell me what money factor they used on your lease and and what is your loan residual value?

    Appreciate your help.
  • tdohtdoh Member Posts: 298
    Hi--been lurking a bit here on the ES350 forum but am almost ready to pull the trigger on a lease...here are the numbers my local dealership gave me:

    ES350 (UL, ML, intuitive parking assist, rear lip spoiler, pref. acc. pkg.):

    Lease terms: 36 mos./12K miles (60% residual)
    MSRP: $44288
    Purchase price: $39963
    Cap cost reduction: $333.58
    Monthly payment (incl. tax): $619.73
    Drive-off: $2000 ($1046.69--which I assume includes acquisition fee, vehicle registration, and other required fees; $619.73 first month payment; and $333.58 CCR--yes I could just not pay the CCR but then my monthly payment will increse to $630.84), w/ no security deposit required.

    Unfortunately, my FICO-II Auto score isn't all that hot but the finance guy was willing to grant me a Tier exception which bumped me up (down?) to Tier-2 money factor (0.00325).

    Any thoughts on whether the above is a fair lease offer would be greatly appreciated!

    Thanks!
  • jwangsdcjwangsdc Member Posts: 11
    Premium Plus & Navigation Package: $41,289.00

    In addition to the features in the Premium Package: Rain-Sensing Wipers, Memory Passenger Seat, Driver Seat Cushion Extension, Rear-Side Air Bags, Full Size Spare, Park Assist, Voice-Activated Navigation System with Rear Back-up Camera.

    Here's what I got quoted @ the local dealer. Keep in mind sales tax is about 7% here.

    $492/month including sales tax
    32 months 12,000miles/year,
    upfront we pay

    up front sales tax 1306
    Bank fee 795
    DMV plates 295
    Bank tax 55
    First month 492 total upfront $2941

    The salesman said he couldn't get it this low through lfs and went through Hyundai's bank. Anything look fishy about this deal? I've been trying to work it out but without the residual for 32months/12Kyear i couldn't. Looks to me like a selling price around 38K and a money factor around 6%(.00245)??? Any input?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey beachbum_ny. A base 2006 Lexus ES 330 has a spread of around $3,700 between its full MSRP and dealer invoice price. This means that the dealer is making at least $2,000 on the car that you are interested in. Lexus has lots of dealers in the New York area, you may want to try shopping around a little bit to see if you can beat this price. It wouldn't hurt. Make sure to stop by the following discussion to see how much other community members have paid for similar cars lately: "Lexus ES 300/ES 330: Prices Paid & Buying Experience".

    You're in good shape with this car's money factor. Thee factor that you were quoted is right in line with Lexus Financial Services' current buy rate for a lease of this car by a Tier 1+ customer.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi kstro135. I would be happy to estimate what your lease payment should be like on the car that you are interested in. In order for me to do so I need you to provide me with its approximate selling price. the selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. You live in a great area to get a new Lexus because there is a ton of dealers in your neck of the woods. Negotiate as low a selling price as possible on the car that you want and let me know what you come up with. I can then estimate what your payment should be on it for you. You should be able to get a good idea of how much you will have to pay for this car right now by visiting the following discussion: "Lexus ES 300/ES 330: Prices Paid & Buying Experience".

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi lookingates350. $2,000 to $2,500 would be a pretty good price on a 2007 ES 330 right now. For more information on how much you should pay for this car, stop by the "Prices Paid" discussion that I posted a link to in my previous two posts. I believe that Lexus Financial Services' current buy rate lease money factor for consumers who qualify for its Tier 1+ credit tier and lease an '07 ES 330 right now is .00265. I need to know your car's actual selling price to give you an accurate estimate of what its monthly payment should be, but for now I can work up a lease payment for you assuming a $2,000 discount. According to my calculations, if you were to lease a 2007 Lexus ES 330 with an MSRP of $35,475 and a selling price of $33,475 through Lexus Financial Services right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $484.

    Car_man
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  • tdohtdoh Member Posts: 298
    "Up front sales tax"? I guess it must be something that's specific to your state; FWIW--and in all fairness, the following is technically apples and oranges but I thought I'd offer it so as to provide some ballpark numbers--my up-front down payment (not including cap-cost reduction) was $1700, which included Lexus' $600 acquisition fee, vehicle registration fee, and first month payment of %587.57...all this based on MSRP of $44288 and purchase price (again, before CCR) of $39963.

    I'm guessing that the "bank fee" might be something similar to the Lexus acquisition fee since you're being financed through a different bank? The "bank tax" appears to be tax on the "bank fee"--amazing how companies find many different ways to assess a tax on just about everything...but in any case, I would venture to think that those numbers seem to be par for the course...except for the up front sales tax which to me doesn't make sense--but again, that might be something that's required in your state/county/city.

    The dealer should be able tell you what the residual is for 32/12k, along w/ the MF being applied to your loan; no reason why he wouldn't do so unless he thinks you wouldn't know any better. Don't even consider analyzing that--or any--offer until you and the dealer first agree upon an acceptable selling price...then ask him to provide the residual and MF once he quotes you an offer based on those three factors (selling price, residual, MF). Once you have those figures, only then can you figure out if he's trying to pull the wool over your eyes.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi lookingates350. I'm not bernster, but I can help you out. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 ES 330 with 12,000 miles per year are .00265 and 60% for consumers who qualify for its Tier 1+ credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi tdoh. A base 2007 Lexus ES 330 has a spread of $3,660 between its full MSRP and dealer invoice price. You are being given a discount of $4,325 on the specific car that you are interested in. This price looks pretty good to me. You can always also stop by the following discussion to see how much other community members have paid for similar cars lately: pat, "Lexus ES 350: Prices Paid & Buying Experience" #, 26 May 2006 6:44 am.

    I can't really comment on the money factor that you were quoted because I am not sure what credit tier you qualify for or what Lexus Financial Services' buy rate money factors are for its lower credit tiers.

    Car_man
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  • garsarnogarsarno Member Posts: 72
    Evaluating a lease deal on a 2007 Lexus ES350 Ultimate with a MSRP of $43,989. Discount of $1,500 from MSRP. Down payment is $3,980, which includes first payment, taxes, plates fees etc. Payment is $608.30 including state of PA tax for 36 months / 12,000 miles per year /$.25 per mile over 36,000. Money factor .00275. All through Lexus Financial. Searching for a Blue Onyx / Cashmere - assured me that it would be here in four weeks. Residual 60%. Is this a fair / good deal? Thanks in advance for your opinions.
  • tdohtdoh Member Posts: 298
    Hard to say if that's a good deal for your neck of the woods, since I don't live in the eastern part of the U.S. (I'm in California)...but if you want an opinion even though it's an apples and oranges scenario, then I can offer that I paid $39963 (before tax/lic) on an MSRP of $44288 for a ES 350 UL.
  • jwangsdcjwangsdc Member Posts: 11
    My offer is .00275 money factor, 12K miles/year 32 months $38102 for the premium plus and Nav and 68% residual. I donno, but this deal sounds amazing to me. Anyone think i should pass?
  • beltelmelbeltelmel Member Posts: 6
    I have never leased a car before and I am thinking of "trading" in a 2004 Acura TL (navi) for either an ES350 or an RX350. Trade in value on kbb is $19.7k (using fair condition). Question is - all the posts I read seem to be from people who put the minimum down payment. Is it a bad move to trade in when leasing as opposed to financing a car? Also what can I expect off MSRP? I'm in New Jersey. Looking at Premium Plus Package. Thanks.
  • carrelman2carrelman2 Member Posts: 80
    You can get the best deal in New Jersey at Prestige Lexus in Ramsey, NJ. You can get there by train. Just call for directions. I live in New York on Long Island and it was the best deal around.
  • hakpoonhakpoon Member Posts: 15
    I concur.. prestige lexus is probably the one to go. They have quoted me with the lowest price for es350 UL. Too bad I am about 3 hrs away from ramsey.
  • go21bucsgo21bucs Member Posts: 2
    Car Man -- long time lurker, first time poster.

    I have been negotiating with a Lexus dealer here in the Pittsburgh area for an ES350. Here is the deal as he presented it to me today:

    BASE $33,865
    VN (Nav System) $4,050
    PT (Premium Plus) $2,480
    TOTAL $40,395
    ALLOWANCE (-) $589
    GRAND TOTAL $39,806

    With the features above, it will have to be ordered. To do that, he said that I need to put either $500 down (non-refundable) or $1,000 (refundable).

    He also said that if the car cannot be found at another dealer and has to be special-ordered, it will probably take 3 months and the allowance above would be $1,000 (instead of $589).

    Using the higher amount, here is the possible financing scenario:

    CAPITALIZED COST: $39,806
    LEASE TERM: 36 months
    ANNUAL MILES: 15,000
    MSRP: $40,395
    RESIDUAL FACTOR: 58%
    RESIDUAL: $23,429.10
    DEPREC. PORTION: $16,376.90
    ACQUISITION FEE: $600
    MONEY FACTOR: 0.00335
    SALES TAX RATE: 9% (6% STATE TAX, 3% STATE USE TAX)
    PAYMENT: $666.75
    SALES TAX: $60.01
    TOTAL MONTHLY: $726.76

    To drive this off of the lot, I'd need to pay as follows:
    FIRST PAYMENT: $726.76
    TITLE FEES: $153.50
    ACQUISITION: $654.00
    DUE ON DELIVERY: $1,534.26

    If I put $1,000 down (Cap Cost Reduction), my monthly payment becomes $692.83.

    My questions:
    1) How fair is this deal?
    2) My credit rating puts me in Tier 1. Isn't the Money Factor he quoted a little high?
    3) As this is a new model, how much more $ do you think I can get out of the deal?
    4) Since this is my first time considering a lease, I was a little surprised by the fact that if I try to trade in my Honda Accord, the amount they would give me would be cut as a check to me, instead of coming off of the Capitalized Cost of the car (which would make the monthly payment a lot more reasonable). Is this correct?
    5) The ACQUISITION FEE: in one part, it's $600. In another, it's $654. Why the delta? Also, is this something that I can negotiate out of the deal?

    Thank you!
  • tdohtdoh Member Posts: 298
    I'm not Car Man but if you don't mind, I'll put in my two cents worth regarding your question...so here goes:

    1) I'm not familiar w/ how much of a great deal one might be able to get if the vehicle has to be ordered, but FWIW a max $1000 allowance isn't a whole lot, even if the vehicle is a PP vs. UL. I was able to get $4300 off MSRP on a near-loaded UL, so IMHO it's not farfetched for you to try to knock off a bit more off their selling price.

    2) That does sound a bit too high, based on Tier 1 MF of approx. .00265 I've seen posted here...along with fact that the MF--which in my case is a Tier 2--on my lease is lower than the one you mentioned. Are you positive that you're Tier 1? I ask because I thought I was close to being Tier 1...until I discovered that auto lenders use what's called a FICO-II score to determine creditworthiness when it comes to installment loans. Needless to say, my FICO-II score was somewhat lower than my FICO score...thus I could only qualify for a Tier 2 MF.

    3) See my response to #1 (above); again, I reckon that one might be able to get a larger discount based on which level of trim (PP vs. UL).

    4) Dunno why it's done that way, other than perhaps because you own the Accord outright?

    5) My guess is it looks like they applied sales tax to the Acq. Fee; maybe it's required in your state? I'll have to double-check my documentation but I'm fairly certain that the finance guy didn't apply CA sales tax to my acq. fee.

    Wow...that 9% sales tax does affect your monthly payments pretty bad... :(
  • go21bucsgo21bucs Member Posts: 2
    tdoh --

    Thank you very much for your insights. Yes, the sales tax is a killer -- but, such is life here in PA. ;-)

    Does anyone else here have any thoughts about the whole "trade in on a lease" question that I have? I'd like to make a decision on this asap, but would love to hear from others who have been through this.

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi garsarno. The money factor that you were quoted for this car is right in line with Lexus Financial Services' current buy rate for it. This is a good sign because it means that the dealer you are working with is not marking your car's money factor up to add hidden profit to your deal. There is definitely over $2,000 in dealer profit left in your car, but I am not all that familiar with what the market is like for it right now so it is difficult for me to say if you will be able to get one for a lower price than the one that you were quoted. Try looking in the following discussion to see how much other community members have paid for similar cars lately: "Lexus ES 350: Prices Paid & Buying Experience".

    Car_man
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    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi beltelmel. There's nothing wrong with trading in your existing car when leasing a new one. Just have the dealer that you are working with cut you a check for any equity that you have in your car rather than using the proceeds from it a s a down payment on your lease. You should be able to get an idea of how much you will have to pay to get this car right now by visiting the following discussion: "Lexus ES 350: Prices Paid & Buying Experience".

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome go21bucs. If the capitalized cost that you mentioned is this car's selling price, you aren't being given much of a discount on it. You should be able to do a lot better than a $500 discount on an '07 ES 330. The money factor that you were quoted does look a little high. Lexus Financial Services' current buy rate lease money factor for the 2007 ES 330 for consumers who qualify for its "Tier 1+" credit tier is currently .00275 in most areas. I believe that this car's "Tier 1" money factor would only be something like .00010 higher.

    If you have a vehicle that you have equity in that you can trade in you actually would be better off having the dealership that you are working with cut you a check for it instead of using the proceeds from your trade as a capitalized cost reduction for your lease. Consumers who make cap cost reductions risk losing them if their vehicle is totaled in an accident or stolen.

    Lexus Financial Services' current base lease acquisition fee is $600. This fee is set by LFS and all consumers who lease have to pay it. I'm not sure why it was $50 higher in one part of the quote you were given.

    Car_man
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  • stlacurastlacura Member Posts: 26
    Car_Man,

    Do you have the Lexus Residuals and Money Factors for a 2007 ES350 (premium and nav) for a 15k lease for 36 months?

    Also, any word on when December to Remember will come out?

    Thanks,
    Mike
  • keithordankeithordan Member Posts: 3
    Just leased an ES350 in Atlanta, GA. I called all 5 dealers in the metro area and negotiated prices. Finally 3 of the 5 said no and two agreed to a Lease price of $579 plus tax on a Nav/Premium Plus unit with an MSRP of $41,500. Car Color is Obsidian with Cashmere.

    I am confident that that is at least close to the best you can do in Atlanta because everyone was willing for me to walk away below that number. Every dealer said they had a very small selection of cars available for sale most were coming in presold.
  • stlacurastlacura Member Posts: 26
    Thanks for the info. A few questions....

    What did you agree upon for purchase price?

    Did you put any additional money down outside of first payment and security deposit?

    What was the money factor and residual? Also, how long of a term are you leasing for? How many miles a year?

    Thanks!
  • keithordankeithordan Member Posts: 3
    $38422 Sale price + $600 Aquisision fee = $39022 Total Cap Cost, Just starts down(1st Payment and Security Deposit),36 months 12K miles, Residual of $24202.98.

    Not sure about money factor...sorry...I was negotiating based on Payment and so was not managing the money factor variable.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go, Mike. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 Lexus ES 350 with 15,000 miles per year are .00275 and 57%, respectively for consumers who qualify for its Tier 1+ credit tier. While I have not seen any official word on when it will begin, I strongly suspect that Lexus' annual "December to Remember" sales event will begin on November 22nd. If I was in the market for this car, I personally would definitely wait until then to lease one.

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  • saprissasaprissa Member Posts: 7
    sammys - I know I'm responding to a very old post, but this is my first time going thru these forums. So I thought I would put in my two cents on the affect of RV, money factor and msrp (or agreed-to price). This is something I had worked up this afternoon when considering a 36 month lease, $40K msrp, 0.00275 money factor and 58% RV.

    ** For every $500 reduction in price (all else constant), the monthly payment drops by approx $15

    ** For every $500 (or 2%) INCREASE in RV, the payment drops by approx $12

    ** For every 0.0001 decrease in the money factor, the payment drops approx $6

    Hope this is helpful. For me, I'm trying to focus more on negotiating the top line. I'm hesitant to allow them to jack up the residual value, since some lease agreements are open-ended. In that case, you would be stuck with the delta between the actual price in 3 yrs (vis-a-vis the negotiated RV).
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