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Lexus LS 400, Lexus LS 430, Car Buying, Sedan
#182 of 592 Re: DECEMBER TO REMEMBER? [bartalk2]
Dec 12, 2004 (9:40 am)
See this posting from another Edmunds forum on Lease Questions (#14866) in response to a question posed by proud new LS owner gteach26:
Unlike many of the advertising campaigns that tout special holiday deals, Lexus actually backs up its "December to Remember" promotion with very attractive lease and finance rates. The LS 430, which normally does not have any sort of support on it at all has both special financing and lease rates available on it this month. Lexus Financial Services' 3 year, 12,000 miles per base lease money factor and residual value for the 2005 Lexus LS 430 Custom Luxury should be .00165 and 56%, respectively for consumers who qualify for its Tier 1 rates. In lieu of this special lease program, it is providing 3.76% financing for up to 5 years for Tier 1 customers.
#183 of 592 Re: DECEMBER TO REMEMBER? [cove148]
Dec 12, 2004 (6:05 pm)
I was offered $595 plus tax for 48 months, 48,000 miles last summer for a new 2004 with premium and smart key but I turned it down: $58,349 MSRP, $53,309 negotiated price. $760 is way too much!
Perhaps last July was part of Lexus' "Summer To Remember?" The point is I think a savvy shopper can find great deals all year round.
#184 of 592 Re: DECEMBER TO REMEMBER? [cove148]
Dec 12, 2004 (8:34 pm)
Previously posted my numbers:
Modern Luxury package (Mark Levinson audio, nav smart key, etc.)$64,000 sticker
36 mos. 735 per month (includes tax)
You probably can do better.....
#185 of 592 lease v buy
Dec 22, 2004 (9:20 am)
Would it be a good idea to lease then buy at the end? Why, Why not?
#186 of 592 Depends......
Dec 22, 2004 (9:31 am)
I have often done just that - it gives me two options that I like;
1: I can see how the car holds up. By lease end, if the car has been reliable and I enjoy the car, still like it and am confident in it, I may buy it out of the lease if;
2: The residual at lease end turns out to be fair with the market value at lease end. But if the residual on the car is more than the market value of the car turns out to be at lease end, then I'll let the financer take the hit and buy or lease another car. Three years ago when I leased it, they guessed on the residual value, gas prices and the economy and the performance of the car can change things over 3 years. Sometimes that residual can turn out to be a steal, sometimes it can be a rip off, and sometimes it can be a good guess.
I consider all of these factors at lease end, and make my decision.
#187 of 592 What to look for when buying a '91 LS400
Jan 01, 2005 (11:41 am)
I'm looking at a 91 LS400 with 160K miles. The interior and exterior look very nice and well cared for. Are there any mechanical or electrical issues with this model? Should I be concerned about any upcoming major services?
This is a private sell and the asking price is $5,900. KBB suggests $5,500. Is this a fair price?
Jan 01, 2005 (3:45 pm)
See if the air suspension has been replaced at any or all 4 corners of the car yet, if so how long ago. These will go out, and they're very expensive to fix.
#189 of 592 Anyone remember December?
Jan 02, 2005 (10:52 am)
Happy New Year to everyone!
When I went in to my Lexus dealer to pick up my permanent license plates last Tuesday (yes it took about 55 days to get them here in Maryland), I spoke with my salesman, and he told me they were doing aggressive deals on their remaining inventory through this weekend. Combining that with the "December to Remember" factory financing/leasing specials that end tomorrow, this should have been a great time to buy a new LS.
Did any readers of this forum take advantage of the end of month/year to get a deal? Post the details and let the rest of us vicariously experience the joy of buying a new LS.
#190 of 592 2005 LS 430 Lease
Jan 03, 2005 (2:36 pm)
48month lease, 15K/yr
Cap Cost $61300
Custom Luxury Selection with additional options: includes Mark Levinson® 11-speaker 240-watt Premium Audio System, Lexus voice-activated DVD Navigation System with backup camera and Bluetooth® technology, Perforated leather seating surfaces, Dynamic Laser Cruise Control, Laminated side glass, Intuitive Parking Assist, Front climate-control seats with heat/cool knobs, Headlamp washers, Power door closers and Rear-seat heaters.
- Interior Upgrade Package with perforated semi-aniline leather trim
- 18-inch all-season tires with Lexus Chrome Wheels
- Preferred Accessory Package (includes Cargo net, Trunk mat and Wheel locks)
Lease rate/month: $742.00 plus tax
Lease rate based upon 2K equity applied as part of a trade in.
#191 of 592 Re: 2005 LS 430 Lease [cpagem]
Jan 03, 2005 (9:24 pm)
I'm having a problem getting the MSRP of the car you describe coming out as high as you show it. If you build the car on Lexus' own web site, the MSRP comes out as $65,789:
Custom Luxury Selection with Additional Options
Base MSRP* $55,675.00
Delivery, Processing & Handling Fee† $650.00
Available Packages $9,464.00
Accessory Options $0.00
Total MSRP** $65,789.00
The best deals have been running 10-11% off of list. So even if the MSRP you were quoted is not inflated by $1,700, you should be able to negotiate at least another $1,000 off the cap cost. And if the list price is really $65,789, then a good deal would be buying it for about $58,700.
I don't know what they are using for residual value on a 48 mo lease, but using figures provided for 12k/36 mo (56%), and assuming the "$2K equity" you mentioned makes the net cap cost $59,300, using the "December to Remember" special lease rates, you could pay only $758/mo. If the Net Cap Cost is figured as $56,700, the 12k/36 lease payment would be $681. So $742 for a 48 mo (although higher 15K mileage) doesn't seem so great even on the financing side. But supposedly the special lease rates ended yesterday (1/3).
You can perhaps get more info on the lease aspects of the deal on the Lease Questions forum (where I got the info on Lexus' special lease factors).
Hope this helps.