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Lexus GX 470 Prices Paid and Buying Experience

1119 messages,  Last post on Dec 08, 2009 at 3:24 PM

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What is this discussion about? Lexus GX 470, SUV


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#969 of 1119
Re: Quote on 08' GX470. Good Deal? [mvpjeffmvp] by quaker09
Nov 24, 2007 (9:13 am)
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Replying to: mvpjeffmvp (Nov 24, 2007 8:30 am)

Never lease a car.
#970 of 1119
Re: Quote on 08' GX470. Good Deal? [quaker09] by gold233790
Nov 24, 2007 (9:24 am)
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Replying to: quaker09 (Nov 24, 2007 9:13 am)

Not the most helpful- or wisest- response. There are many reasons to lease a car, and you can find them all very well explained on this site. If you are one to buy and drive cars for quite some time, then it of course makes sense to purchase. If you tend to enjoy driving a new vehicle every few years, leasing would end up being the most cost effective way to indulge.
#971 of 1119
Re: Quote on 08' GX470. Good Deal? [mvpjeffmvp] by firstnten
Nov 24, 2007 (10:13 am)
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Replying to: mvpjeffmvp (Nov 24, 2007 8:30 am)

I think there are better deals out there. Well, I hope there are because I plan to lease a GX470 also during the event. I scanned this forum and the GX470 leasing forum for last year's event. I believe hoggolfer landed the best deal last year at $565/month with only a $600 acquisition fee. He did use multiple security deposits to lower the money factor. More details can be found in the GX 470 lease forum; use the search forum feature with a keyword of December. Hoggolfer, along with many other people last year, were getting near invoice acquisition costs. During last year's event, Lexus offered lease support, marketing support, and taxes paid. I don't know the details for this year yet. I posted a request in the GX 470 lease forum.
#972 of 1119
What about this deal? by eyoung
Nov 24, 2007 (12:33 pm)
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I found an 06 GX470 with Navigation and Mark Levinson sound but NOT the rear entertainment DVD for $42,500. It has only 9,000 miles and 26 months or 50,000 miles left on the warranty. Thoughts?
#973 of 1119
Re: What about this deal? [eyoung] by bee2004
Nov 24, 2007 (5:12 pm)
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Replying to: eyoung (Nov 24, 2007 12:33 pm)

From my research, that seems like a good deal, assuming the car is in like-new condition.
#975 of 1119
Re: Quote on 08' GX470. Good Deal? [gold233790] by quaker09
Nov 25, 2007 (5:02 pm)
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Replying to: gold233790 (Nov 24, 2007 9:24 am)

Well, I personally think leasing is a waste of money, but leasing a 45K car is just stupid. Almost any financial adviser will say the same. Gosh, they even teach that in high school.
#976 of 1119
Re: Quote on 08' GX470. Good Deal? [quaker09] by gold233790
Nov 26, 2007 (11:19 am)
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Replying to: quaker09 (Nov 25, 2007 5:02 pm)

Not to go too off topic or create a disagreement, but again that's not entirely true. Without knowing the residual and MF on the GX470, I couldn't hazard a guess as to whether it makes sense to lease. Lexus typically doesn't have great lease deals on cars other than the ES and maybe another one or two, and with a car with the reliability history of Lexus it certainly would make more sense to buy if you could do so.
 
That being said, the price of the car doesn't have a ton to do with whether it makes sense to lease. Often the captive financial companies of the vehicles artificially increase numbers in order to move them on leases.
 
For example, the 5 series BMW is a very good car to lease instead of buy. BMW's out of warranty can be extremely expensive, and the residual values of those cars on three year leases are 60%, meaning that the difference between buying and leasing in terms of $ are extreme....and then you aren't saddled with several K expenses out of warranty. Just an example.
 
$ for $ for someone who is going to own a car for many years? No-brainer that buying is a better option. But leasing does have advantages.
#977 of 1119
Re: Quote on 08' GX470. Good Deal? [gold233790] by mvpjeffmvp
Nov 26, 2007 (11:47 am)
Reply

Replying to: gold233790 (Nov 26, 2007 11:19 am)

Just looking to see if anyone has gotten any other quotes on 08's, or prices? Thanks!
#978 of 1119
Re: Quote on 08' GX470. Good Deal? [quaker09] by firstnten
Nov 26, 2007 (11:55 am)
Reply

Replying to: quaker09 (Nov 25, 2007 5:02 pm)

A financial advisor worth his/her salt will take into account the goals of an individual. I usually do not consider leasing vehicles. In fact, I usually purchase low mileage, one or two year lease returns with significant warranty remaining on the vehicle. I have only leased one car during my lifetime, and it made absolute financial sense to do so at the time. A lease allowed me to have a much lower auto payment, which translated to an easier qualification for my first house. I would not have qualified for the home loan with a traditional auto loan payment. I needed to put more money down on a house not a car to lower the auto monthly payment.
 
Leasing can make financial sense even taking out personal buying patterns for vehicles (i.e. tendency to buy cars every two or three years). Lease support and multiple security deposits can significantly lower the cost of financing - possibly even better than traditional loans. However, zero percent loan options currently in the marketplace (not from Lexus) definitely outperform leases.
 
Finally, leases can act as a hedge when acquiring a new SUV. With rising gas prices and the trend towards better MPG, today's SUVs have a decent chance of accelerated depreciation similar to the large sedans of the 70s. A lease sets the residual at the beginning of the term, mitigating depreciation risks. If the value at the end of the lease is well below the residual, one can simply turn the car back into the dealer and walk away. If the worst does happens (meaning today’s SUV are yesterdays Oldsmobile), purchasing the car today leaves one in dire shape in the future.

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