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2013 and earlier Lexus ES 350 Lease Questions

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    edited March 2013
    Hi dallatex. Yes, you definitely can lease with only 10,000 miles per yer through LFS.

    Lexus Financial Services' current buy rate lease money factor and residual value for a 36-month lease of a 2013 ES 350 with 10,000 miles per year are .00120 and 62% for consumers who qualify for its top aka Tier 1+ credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'm glad that I've been able to help you out in the past, dallatex. Keep coming back :).

    The residual value for an otherwise identical lease of a '13 ES 300h is the same, but the money factor is slightly higher at .00145 for Tier 1+ customers.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi snowman22. Full MSRP on an ES 350 is absurd. I am a little less familiar with what the market is like for the ES 300h. I suspect that since the supply of them is lower that pricing might be a little higher, but you still should be able to negotiate a decent discount.

    It sounds like there's no competition in your area. Have you tried shopping further away? I probably would if I was in your situation.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Lexus' programs definitely seem to be more aggressive in March than they were in February.

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  • daxt24daxt24 Member Posts: 6
    Car Man,
    Are these accurate for the month of March for a 36 Month Lease on an ES350?
    Lexus Financial Services' current buy rate lease money factor and residual value for a 36-month lease of a 2013 ES 350 with 10,000 miles per year are .00120 and 62% for consumers who qualify for its top aka Tier 1+ credit tier

    Also, do you have a link or some advice to not sound like a idiot when talking MF with a dealer? Also, will a Lexus dealer try to bump you on MF and residule percentage if you are going through Lexus Financial?

    Thanks for always being there!
  • sstallsstall Member Posts: 7
    Car Man, can you give me the money factor and residual on a 36 month lease of a 2013 ES 350 with 15,000 miles per year? Looking in NC. Also the same for a 300h? Thanks.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome daxt24. Yes, I believe that those are the correct numbers for a lease of this car in March.

    Don't worry about sounding like an idiot at the dealer. You are far from it given the research that you're doing. If you know what you want to pay for the car and what the money factor should be prior to visiting any dealers don't let them make you feel silly. Dealers do not have the authority to alter LFS' published residual values, but they probably can mark up its money factors.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi sstall. Lexus Financial Services' March buy rate lease money factor and residual value for a 36-month lease of a 2013 ES 350 with 15,000 miles per year are .00120 and 59% for consumers who qualify for its top aka "Tier 1+" credit tier.

    The residual values for the 2013 ES 300h are the same, but the money factor is slightly higher....00145.

    Car_man
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  • snowman22snowman22 Member Posts: 109
    My question. I see most most lease money factors for 36 months with 12-15 miles. Would the monthly payment be less or more on a 27 month at 10k miles lease. Also --how would the money factors reflect the difference. Thanks :confuse:
  • toby51toby51 Member Posts: 4
    I am leasing an ES350 lexus and at signing they are asking a $500 Conveyance fee...Does that seem appropriate? I believe its a DOC fee and it seem quite high to me.
  • snowman22snowman22 Member Posts: 109
    Just another example of arrogance gone wild. These dealers are nothing short of crooks. They rip off the public at every turn. Lie,Cheat and demean the buying public. As you can tell I have had it with these crooks. The auto manufactures should set better guidelines for dealerships. Those dealerships are a direct reflection on the makers. The manufactures could do much better by changing the attitudes and less than honest practices bestowed upon us. Greed is what it is all about--pure and simple. :mad:
  • zstevczstevc Member Posts: 1
    Can anyone tell me the difference between a Buy Rate vs a Discounted Mark-Up Rate? I sent an email to a sales associate in Texas asking for the current money factor / residual on an ES350 at 15,000 per year for 36 months. BTW - I am a returning customer and have tier 1 credit.

    I got a response was "The lease money factor for the 2013 ES 350 would be .00150 with approved credit. The residual value for a 3 year, 15,000 miles per year lease is currently 59% of MSRP.

    I then stated, "I thought the current money factor was .00120". He replied with, "That is what’s called the “buy rate” from Lexus to the dealers. The rate I gave you is a discounted mark-up rate.

    Can someone please explain? Am I getting screwed?
  • newcar28newcar28 Member Posts: 29
    this is my first time posting so, in advance, i would like to thank anyone for their advice. I am in St. Pete, FLorida and about to lease the following:
    2013 ES 350 (basic package with rear camera), 36 MO, ZERO DOWN, 15K miles/yr
    MSRP $40,071 - Discount ( $2,403.08) = Selling price $37667.92
    Starting fees (sales tax, dealer, tag)= $3563.59

    Offer: 36 mo @$552.00

    Using the money factor mentioned in this thread for march .00120 with 59% residual, i calculate a payment of $463/mo. I have asked the salesperson for the money factor and am waiting to hear back but he wants to close the deal tomorrow morning and, honestly, it is the best deal i have gotten so far. plus, i am turning my car in early and saving two monthly payments on top.

    any advice PRONTO would be soo very helpful!! :)
  • newcar28newcar28 Member Posts: 29
    edited March 2013
    Well, i signed my lease for a 3 yr/15k miles/yr, @$552 per month, with first payment made by Lexus, $0 out the door. Plus they waived my last two payments on my current Lexus Lease.

    My question now is: should I buy the prepaid maintenance package?
    I have in the past thinking I was obligated to under the lease but now I realize that I am not. I plan on getting the oil changed at my local toyota dealer. Lexus mentioned a "big service" at 45K miles that costs about $700.00 - i think it is ridiculous since their own guidelines say all the car needs is an oil change every 10K miles and tire rotation and minor checks every 5k miles.

    Car man, would you please provide me with some guidance?? I have always done prepaid maintenance so I am curious if Lexus requests documentation proving that you had their "specific maintenance" performed prior to surrendering the vehicle. I looked at the lease agreement and did not see any mention of it. So, as I see it, I can get the oil changed at jiffylube or anywhere else for that matter. Thanks
  • snowman22snowman22 Member Posts: 109
    I just can't figure out why most posts are for 36 month---15k per year---and many with no money down. What the heck gives in the Western NY area--Buffalo--they only offer 27 month--10k per year. Do the dealers set the perimeters or are they set by the Manufacturer.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi snowman22. The special .00120 money factor (Tier 1+) is available for the 27-month term as well. I'm not sure what the 27-month residual value is, but it's probably around 70%.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    HA, the dealer is telling you that they're marking up your car's money factor, they're just "discounting" the amount that they usually mark it up on your deal. That's a new one. At least they're being somewhat honest about it. Tell the dealer that you want the .00120 money factor or no deal and they'll likely use it to work up your payment.

    Car_man
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  • utjon8201978utjon8201978 Member Posts: 1
    Why do people think you should get th rate for what the dealer does? I don't mind if you can but don't feel you're entitled to it or they are crooks, they exist to make profit, period. Believe me you don't get your home mortgage or your credit card rate at the banks rate, so what's the difference?
  • toby51toby51 Member Posts: 4
    Just wanted to give an update...we just leased the Lexus ES 350 with luxury package (rear camera and blind spot detector etc). We only paid the taxes up front and have a lease payment of $425/month for 10,000miles/yr 33month lease. Most dealers wanted $445 for the same lease.
    Also they paid the first months lease as well as bought out our current lease which was ending next month.
  • snowman22snowman22 Member Posts: 109
    That sounds like a great deal---what am I talking about---that IS a great deal. Our less than wonderful Lexus dealer only offers up $0 down 27 months 10k a year--$499. Plus must pay all dealer fee's and costs. Bet that add's up. That's what you get at the Amherst NY lexus dealer. But they are the only dealer around the Buffalo area. I would jump,at your deal.
  • kainnyckainnyc Member Posts: 80
    They didn't waive $hit that's why just monthly payment is so high! They gave you the old bright lights little city move! You should have gotten a a GS for that price
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I don't think that I said that dealers are crooks, utjon8201978. Of course dealers are entitled to make a profit. You'll probably find that I am less tough on dealers than many people are.

    I didn't use a broker to get my mortgage, I went straight to the bank that I got the loan from and dealt with them. I equate the dealer's F&I department marking up rates to using a broker who has to profit from your deal by marking up your rate.

    What personally rubs me the wrong way is when a dealer tells me that they are selling me the vehicle that I want at $500 over invoice implying that they are giving me an amazing deal and then marking up the finance rates to pad their profit on the other end.

    In the end, I don't begrudge anyone trying to make a profit...the dealers just aren't going to make a huge one off of me when I get my new vehicle ;).

    Car_man
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  • newcar28newcar28 Member Posts: 29
    It would be kind of you to share how you propose I get the lowest payment and avoid "getting ripped off". The deal I negotiated was for the best lease money factor .00120 and the correct residual value. Add to that the $1400 saved in the two months left of my lease Plus the initial first month payment on the new lease Overall, i got the payment under the correct parameters plus an extra $2000 off which nets to a monthly payment of about $496 including tax. According to my calculations, I got a phenomenal deal and not in the "bright lights big city".
  • mnz1999mnz1999 Member Posts: 12
    ES 350 4-DOOR SEDAN
    Model: 9000
    Year: 2013
    Interior Color: PARCHMENT
    Exterior Color: DEEP SEA MICA

    I was able to negotiate 2 year 12000 miles per year $420 a month $2500 upfront includes everything (including tax 8% NYS) drive off.

    MSRP of $43702

    here is the break down of options:

    Blind Spot Monitor w/Rear Cross Traffic Alert $500.00

    Luxury Package: Perforated leather-trimmed interior,
    Heated & ventilated front seats, Dark brown bird's-eye
    maple wood interior trim, Power tilt-and-telescopic steering
    wheel, Lexus Memory Sys for driver's seat, outside mirrors,
    & steering wheel, Remote Keyless entry-linked memory
    Hard Disk Drive Navigation system with Backup Camera, 8"
    VGA Screen, Lexus Enform with App Suite Destination
    Assist, and eDestination, Lexus Insider, Voice Command,
    Single DVD/CD Player, HD Radio SiriusXM NavTraffic,
    SiriusXM NavWeather, an SiriusXM Sports & Stock
    (includes 1-yr trial subscription) $2,625.00

    Rain Sensing Wipers with Deicer $155.00

    Intuitive Parking Assist $500.00

    Wood & Leather Trimmed Shift Knob and Heated Wood & Leather Trimmed Steering Wheel $480.00

    Accy Pkg: Trunk Mat, Cargo Net & Wheel Locks $242.00

    Total Optional Equipment $6,707.00

    Vehicle Base Model $36,100.00

    Delivery Processing & Handling $895.00

    Total MSRP $43,702.00

    i think it's a good deal. what do you think?
  • snowman22snowman22 Member Posts: 109
    That's the best deal yet. Super. What dealer in NY. I'm in Western NY.
  • mrtrancemrtrance Member Posts: 190
    Carman,

    What are the current lease numbers for 27 and 36 month leases on a 2013 ES350? Need the residual and MF for both terms if possible. Thanks.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Certainly mrtrance. Lexus Financial Services' April 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 .00095 and 68% for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical 36-month lease are .00095 and 58%.

    Car_man
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  • sjeedsjeed Member Posts: 120
    Carman: What are the MF & Residuals for an ES300h, 27 and 36 months, 12,000 miles? Also, are there any purchase interest rate specials to consider? Thank you!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi sjeed. Lexus Financial Services' April buy rate lease money factor and residual value for a 36-month lease of a 25-month lease of a 2013 ES300h with 12,000 miles per year are .00170 and 70% for consumers who qualify for its top aka Tier 1+ credit tier.

    The numbers for an otherwise identical 36-month lease are .00170 and 60%.

    I am not aware of any special financing rates or cash incentives on this model right now.

    Car_man
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  • insidecarbuyinsidecarbuy Member Posts: 95
    This car is loaded up! Blind spot monitor w/ rear cross traffic alert, Xenons, 17" liquid graphite wheels, Power rear window shade, Luxury package, Navigation Intuitive Parking Assist, wood steering wheel, Rain sensing wipers and accy package.

    CUSTOMER DISCLOSURE
    Customer Name: Inside Car Buying, LLC WD Deal ID: 25196
    Sale Vehicle: New 2013 LEXUS ES 350 9000 4dr Sdn w/AC , Automatic , Odom: 0


    Payment Details
    Term 27
    Base Payment 427.81
    Total Payment 427.81
    Purchase Option 29,717.36
    MSRP 43,702.00
    Est. Miles Per Year 12,000
    Excess Mileage Charge 0.25



    Amount Due at Signing

    1st Month Payment 427.81
    Acquisition Fee 700.00
    Fees & Insurance 181.00
    Upfront Taxes 909.04
    Total Inception Fees 2,217.85

    Total Cash Required on Delivery 2,217.85


    Tax Information
    Customer State: New York Customer County: WESTCHESTER
    Type Amount Rate Paid
    Cashdown Tax 57.16 7.3750 Upfront
    Upfront Tax 851.88 7.3750 Upfront

    Fee Information
    Description Amount Paid
    Reg 83.50 Upfront
    Insp 10.00 Upfront
    Title 12.50 Upfront
    DocFee 75.00 Upfront
  • snowman22snowman22 Member Posts: 109
    Hmmmmmm --- your numbers fly in the face of reality. MSRP is way off base for what you quote. Monthly--yea--ok---but I'm thinking you made a typo on the MSRP. Should be at least $48K.
    Only a thought. :confuse: ">
  • snowman22snowman22 Member Posts: 109
    It seems I was off base with my last post. After checking things out your spot on with your figures. Sorry for the haphazard ---wrong thought--- :cry:
  • insidecarbuyinsidecarbuy Member Posts: 95
    Its possible for me to make mistakes in life because I'm only human. But when it comes to car shopping, not very likely - :)
  • ged3584ged3584 Member Posts: 27
    What is the cap cost?
    Not stated in the list, Is it the full MSRP?
  • insidecarbuyinsidecarbuy Member Posts: 95
    Selling price was $39,493.
  • alram1alram1 Member Posts: 2
    What discount to MSRP can I get on a 2013 ES 350? Base $43,003 + extras $6633 + delivery, process & handling $895 = $43,898. What is the MF and residual?
    Thanks
  • alram1alram1 Member Posts: 2
    More info .... What would be the MF and residual -- 36 months/12K miles? 24 months/12K miles. 2013 ES 350
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi alram1. Lexus Financial Services' current buy rate lease money factor and residual value for a 36-month lease of a 2013 ES 350 with 12,000 miles per year are .00075 and 60% respectively for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical 24-month lease are .00075 and 70%.

    Car_man
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  • vinayg1vinayg1 Member Posts: 28
    Hi,

    What would be the MF & Residual for 2013 ES 350 for 24-27 month lease and 10K miles/yr? And 36 months for 10K?

    Do they have advertised deals with no Cap Reduction, or is strictly based on the what the dealer is offering? Is it likely to improve near July 4? I understand that no one can be sure, but what is historical trend?

    TIA
  • gmanusmcgmanusmc Member Posts: 699
    edited June 2013
    In the post previous to yours, Carman provides the info you request for the 24 & 36 month leases - 27 month would not be much different than the 24 but not sure of the exact info.

    Oops - just noticed his info is for 12k miles - I think the residual goes up 1% for 10k.
    2016 ES350 Lux/Atomic Silver
    2017 Accord Sport CVT Mod Steel Metallic
  • gb350gb350 Member Posts: 22
    Hi Car_Man,

    I'm looking for the June numbers for leasing an ES300h, 36 month term with both 15k and 18k a year.

    Is there any benefit, to wait till July 4th?

    Thanks,
  • gmanusmcgmanusmc Member Posts: 699
    For those looking to lease a 350, between the reduced money factor and the $500 bonus lease cash, your payment will be $28-$35 less this month than in May (provided you negotiate the same selling price).
    2016 ES350 Lux/Atomic Silver
    2017 Accord Sport CVT Mod Steel Metallic
  • kainnyckainnyc Member Posts: 80
    Sorry was a little ruff! The MF WAS BAD that's why it looked like a rip! Bc at .00077 it would be 26 less and at .00050 it would be 50$ less! Personally I would bounce unless the MF went lower!
  • gmanusmcgmanusmc Member Posts: 699
    Could you explain? This is almost 3 months after the original post.
    2016 ES350 Lux/Atomic Silver
    2017 Accord Sport CVT Mod Steel Metallic
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi vinayg1. Lexus Financial Services' June buy rate lease money factor and residual value for a 24-month lease of a 2013 ES 350 with 10,000 miles per year are .00075 and 71% for consumers who qualify for its Tier 1+ credit tier.

    The numbers for an otherwise identical 36-month lease are .00075 and 61%.

    Lexus is providing a $500 cash incentive on leases of this car right now.

    Lexus may not be advertising leases with nothing down, but as a consumer you are free to lease any vehicle that you want without making any sort of capitalized cost reduction. In fact, it is in your best interest not to put any money down when leasing.

    If I recall correctly, last year Lexus' lease program actually became slightly worse from June to July.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi gb350. Lexus is not currently providing any lease support on the 2013 ES300h. Lexus Financial Services' June buy rate lease money factor and residual value for a 36-month lease of this car with 15,000 miles per year are .00170 and 58% for consumers who qualify for its Tier 1+ credit tier.

    If you need to drive more than 15,000 miles per year, you will probably have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until lease-end and have to pay an excess mileage penalty.

    Lexus current lease program for this model is scheduled to run through July 8th. There probably would be some benefit to waiting until the end of the month to get a new car because that typically is the time that dealers are willing to cut the best deals, but I wouldn't wait until after the current program expires. I wouldn't be surprised if the July lease program for this model was worse. Of course, there's no way to say for certain what will happen.

    Car_man
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  • akapl2yakapl2y Member Posts: 15
    Can you provide me with the money factor and residual for a 48 month lease with 12,000 miles per year. Also, can you confirm the $500 incentive is valid towards a lease?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi akapl2y. Through July 8th, Lexus Financial Services' buy rate lease money factor and residual value for a 48-month lease of a 2013 ES 350 with 12,000 miles per year are .00075 and 49% for consumers who qualify for its top aka Tier 1+ credit tier.

    There is indeed a $500 cash incentive on leases of this car right now.

    Car_man
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  • sahsan43sahsan43 Member Posts: 1
    edited July 2013
    we are interested in leasing a 2013 Lexus ES350 with 12000 miles/yr for 36 months. We have selected the luxury package (Navigation, blind spot monitoring, FWD, lip spoiler)

    The dealer has offered to lease us the car for $750 down and $475 per month. We have very good credit.

    Is this a good deal?

    Thanks in advance!
  • snowman22snowman22 Member Posts: 109
    Even with the money factors I can never figure out what a good price is. Is it best with a factory lease special? Our area has a $3499 down plus all tax and fee's and 10,000 a year for $349 for 27 months. Is your money factor deal better. Could car man shed some light on what the better deal would be. Some other area's have less down and 12k for 36 months for close to the same monthly---why the disparity. Thank you for any help.
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