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2013 and earlier Lexus ES 350 Lease Questions
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2013 ES350 with luxury package and 18" chrome wheels
MSRP $44,332
Down payment $1,188
Residual $28,xxx
Monthly $552
Payments left 35 months and 12K/year
did I get a good price?
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Love the car- got Nebula gray- beautiful, did wait a month, but worth it. Enjoy driving it much and I had 4 BMWs in my time.
Car_man
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Customer Name: Inside Car Buying LLC WD Deal ID: 637
Sale Vehicle: New 2013 LEXUS ES 350 9000 4dr Sdn w/AC , Automatic , Odom: 0
Payment Details
Term 24
Base Payment 409.17
Total Payment 409.17
Purchase Option 31,212.00
MSRP 43,350.00
Est. Miles Per Year 12,000
Excess Mileage Charge 0.25
Amount Due at Signing
1st Month Payment 409.17
Acquisition Fee 700.00
Fees & Insurance 230.25
Upfront Taxes 781.39
Total Inception Fees 2,120.81
Total Cash Required on Delivery 2,120.81
Tax Information
Customer State: New York Customer County: WESTCHESTER
Type Amount Rate Paid
Cashdown Tax 57.16 7.3750 Upfront
Upfront Tax 724.23 7.3750 Upfront
Fee Information
Description Amount Paid
Reg 132.75 Upfront
Insp 10.00 Upfront
Title 12.50 Upfront
DocFee 75.00 Upfront
MSRP: $43,849.
Capital Cost Reduction: -0-
Due at signing: Taxes, tags, bank fees, 1st payment
Term: 36 mos.
Mileage: 10k/year
Monthly payment: $545.
We'd like 12k/year, but will have to see how much further the deal can be pushed. Probably not much more.
Any reactions/advice appreciated.
Would you have th 27month lease rate and residual percentage for 15,000 miles for a 2013 ES350?
ALSO - would you happen to know what LEXUS charges upfront for additional miles on its leases ?
Finally, do you know what the MSD rate reduction is for Lexus ?
Thank You so much for your help!!
I'm looking to lease a 2012 ES 350 with navigation but dont seem to find one anywhere. I'm located in New Jersey. Is it true that all the 2012 ES 350s are off the market? Did anyone get an ES350 with Nav recently? Am not a big fan of the look of the 2013 so would prefer a 2012.
Thanks for your help.
1) The analog clock in the center and the big buttons look like the interior of a car from the 80s (according to me anyway). The 2012 dashboard has a much cleaner look.
2) I prefer the touch-screen to the joystick thingy that the 2013 has.
In any case looks like it wont matter. Cant find a 2012 with Nav anywhere. Looks like I have to go for a 2013.
I think that the numbers for the hybrid models are about the same.
Car_man
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Lexus Financial Services' November buy rate lease money factor and residual value for a 24-month lease of a 2013 ES 350 with 15,000 miles per year are .00170 and 70% for consumers who qualify for its top credit tier.
I haven't seen the 27 month numbers, but they're probably pretty close to this.
The last time I checked, LFS did offer multiple security deposits with each one lowering the money factor by .00010.
I'm not sure what the charge per mile is.
Car_man
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I'm looking to lease the 2013 Lexus ES 300H in SF, Ca for a 36 month lease with 12k miles and wanted to see if you knew what the December buy rate and residual was for this vehicle or would it be the same as November which I believe was .0017? Also, would a 790 credit score qualify for the tier 1+ rate? Any help would be greatly appreciated. Thanks.
Car_man
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Thanks for your advice. I ended up leasing the 2013 lexus es300h hybrid and had a couple questions regarding the deal i negotiated and wanted your thoughts. I really appreciate it.
I ended up negotiating a leasing with multiple security deposits. While the money factor offered with the security deposits was much lower than the buy lease rate money factor, my monthly payments were higher than if I had just put down a $5k down payment for the vehicle. The total spent over the term of the lease by going with the security deposit as opposed to a down payment saves me approx. $1500 after getting the security deposit back. Do you reach the same conclusion?
Is it correct that my monthly payments will be higher by going with a lease with security deposits and you recoup the savings once getting the deposit back at the end of the lease? The sales manager said that by going with the security deposit lease option, the adjusted cap cost is higher for that lease since the security deposit and trade in value of my car can't be applied towards the cap cost reduction. Its applied towards what's due at signing. is that true or was he lying? Here are both lease options I was presented. I appreciate your input on this. which deal would you have chosen and can you explain how security deposits apply towards the net cap cost? Thanks!
Lease I accepted with security deposits:
$582/month (incl. tax)
MSRP: $45237
INITIAL CAP COST: $43,354
ADJUSTED CAP COST: $44,054 (after bank acquisition fee of $700)
12k Miles/yr 3 year lease
Residual: 62%
Money factor: .00128
Residual Value: $28,046
Security Deposit: $5,400
Initial Fees: $104.25
Annual Fee (registration): $397
Drive off cost (including, 1st months payment, security deposit but before trade-in applied): $6,483
Trade in value of vehicle: $1,646 (applied to fees and security deposit due)
Total due at signing: $4,837.68
**Total spent over the term of the lease is: (before trade-in applied)
$582/month X 35 months= $20,370 + $6,483 drive off cost (including 1st months payment) - $5400 security deposit = $21,453 (total including trade in =$19,807
--
2nd offer with down payment option (I declined)
$514/month (incl. tax)
MSRP: $45237
Net CAP COST: $40,887.08 (after bank acquisition fee of $700)
Down payment: $5,000
12k Miles/yr 3 year lease
Residual: 62%
Money factor: .00170
Residual Value: $28,046
Trade in of vehicle $1,646 would be applied towards $5k down payment
**total spent over lease: (before trade-in applied)
$514/month X 35 months = $17990 + $5,000 down payment (including 1st month) = $22990 (total including vehicle trade in= $21,344)
$21354-$19807= $1,537
*Difference of $1,537 net savings with the security deposit lease deal by my calculations.
*****
Multiple security deposits is usually a good way to go when leasing if you have the extra cash. Goodness knows that it's not earning any interest in the bank, so why not put it to work for you? As you mentioned, MSDs are much better than down payments because you actually get the money back for the deposits at lease-end.
Paying additional security deposits has no affect on a vehicle's capitalized cost. It is essentially used to buy down the money factor that is being used to calculate the interest portion of your vehicle's payment. The cap cost on a lease with MSDs and no cap cost reduction would essentially be your vehicle's selling price plus taxes and fees. If you had used that money as a down payment instead of putting it towards additional deposits, the capitalized cost for your lease would drop by that amount, but again you wouldn't get the money back at the end of your lease.
You made a very wise choice, even though it means that your monthly payment will be a little higher. In my opinion, making large down payments on leases is a complete waste.
Enjoy your new ride and Happy Holidays :shades: !
Car_man
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---Base model (seems very well equipped and I don't need leather and nav)
---10K miles per year
---36 months
---Excellent credit
---$0.00 down
---Trading in 2010 Infiniti G37 Journey Premium with under 15K miles. Perfect condition. Payoff is $24,900 (3 lease payments remaining of $485.00 each).
Any guidance is appreciated -- thank you.
Did the whole deal by email and phone with no haggling, delivery next week. They are even meeting me halfway to deliver (saving me an hour each way plus tolls), and taking my lease-end Cadillac back to their dealer to hold for bank pickup.
2013 ES350 with Premium + Nav, MSRP abt $43,700.
Taxes rolled in (In IL we have to pay tax on the entire car)
Only 1st Payment + Fees down ~ $1000
42 months, 15K miles/year
Monthly Payment: $559
Any thoughts?
Can you provide me with the residual value and money factor on a 24 month, 15k mile per year lease for a base Lexus ES300h (no nav or lux package). Thanks!
As far as the money factor goes, Lexus Financial Services' December buy rate lease money factor for a 2013 ES 350 is .00170 for consumers who qualify for its top aka "Tier 1+" credit tier.
As far as the selling price goes, if I was in the market for a 2013 ES 350 right now, I personally would shoot for a selling price of around $500 or so over invoice. You can look up the invoice price of the car that you want, exactly as you want it equipped over in the New Vehicle Leasing section of Edmunds.com.
Lexus is waiving the first month's payment on leases of this car through LFS this month.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
If I am not mistaken, the residual value is based on MSRP not the negotiated cost. The dealer will give you the residual percentage. It's different depending on the length of your lease (24 vs 36 months for example).
I just leased an ES on 12/31/12 and the residual was 71 or 72%. Can't remember. On the 36 month lease, I believe it was around 62%. It may vary for different regions though. I'm in the San Francisco area.
I leased a 2013 ES350 with NAV and Blind Spot Monitor. MSRP was about $42700. My negotiated cost was $37,700.
$2000 down
24 months
12K Miles per year
$396 per year + tax
Hope this helps.
Thanks again for your response!
I am looking to lease a 2013 ES 350 with Navigation. MSRP is around 43638. What would be the best price for leasing this ?. Will they come down from the invoice price. How did you get almost $5000 off from the MSRP ? Please get back to me asap, if possible.
Thank you
The numbers for an otherwise identical 36-month lease are .00145 and 61%.
Car_man
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By the way, I've used your information on two prior Lexus leases and it's been invaluable. Thanks for all the help!
You give excellent advice on every aspect pertaining to the lease/purchase.
I'm sure the numbers you provide are as sound as the dollar. Whoops---could be a bad example. Anyway----I have tried to garner a deal using the numbers provided on several trips to our one and only Lexus dealer. I don't go in with a no it all attitude nor a Casper milk toast demeanor. I can' even come close to anything close to the deals on this blog nor will they go by the numbers you supply. They also hold to MSRP and use auction value for your trade in. God only knows I have tried. BUT---it's not my nature to be led down the Prim Rose path. So any suggestions for a lease on the 2013 ES 300H would be very much appreciated. I'll try our dealer again. I gotta be a glutton for punishment. But another dealer is to far away. :sick:
I'd fly to another dealer if the price was right.