Edmunds.com | Inside Line | Auto Observer Your Account | Help | Directory
You are here:
![[F]](http://a332.g.akamai.net/f/332/936/12h/www.edmunds.com/media/townhall/webxicons/site.gif){kind=small}
Forums
Prices Paid: Buying & Leasing Experiences Lexus GS 350 / GS 460 Lease Questions
350 messages, Last post on Oct 26, 2009 at 2:49 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
|
Hi everyone. Please use the following discussion to post any questions that you have about leasing a Lexus GS 300 or GS 430. Thanks. Car_man Host Smart Shopper / Prices Paid Forums |
|
|
Hey car_man, you've been really helpful in the other forums and I hope you can give me the information here. I'd like to know the money factor and residual value of both a 2006 GS300 and GS300 AWD for 36 month 10K or 12K/year lease. I've seen some information posted in the Lexus GS: Prices Paid & Buying Experiences forum and the residual value percentages look pretty bad. If the residual value percentage is low, then it's because Lexus will probably be replacing the GS300 with the GS350 next year and they know that this will hurt the resale value of the GS300s. Also, the 2006 GS models will be available for a total of 18 months from Feb/Mar 2005 until August/Sept 2006 (when the 2007 models come out) and that means the total production numbers for the 2006 GS models will be much higher than a normal production year. |
|
|
Car_man, I have just been offered this lease deal. Doesn't sound too good, however, it looks like it may be in line with previous postings regarding residual and money factor: Car: GS300 AWD, MV, Z1, SR, SS, RF, RS MSRP: $52,109 Total Cap Cost: $50,935 (incl. $600 bank fee) Cap Cost Reduction: $0 MF: .00235 Residual: 54% State Sales Tax: 6% Payments: $877.00 Due at signing: $999.50 Also, I inquired about MSDs: MSRP: $52,109 Total Cap Cost: $50,935 (incl. $600 bank fee) Cap Cost Reduction: $0 MF: .00145 Residual: 54% State Sales Tax: 6% Payments: $809.23 Due at signing: $8571.73 where $7650.00 refers to 10 security deposits How do either of these deals sound? Do you know of any lease programs Lexus has running? These are numbers provided to me by the salesman. I plugged these numbers into a lease calculator and came up with slightly different numbers (about a $9-$10 less for the 1st scenario and about $16-$17 less for the 2nd scenario), am I missing something? Thanks in advance!! |
|
|
Thanks sam_k. You're right, Lexus introduced the '06 GS really early. Unfortunately, it is not providing any sort of lease support on the GS300 right now, so its lease program is not very attractive. According to the latest information that I have seen, if you were to lease a 2006 Lexus GS300 2WD through Lexus Financial Services right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00235 and 56%, respectively assuming that you qualify for its top credit tier and pay a security deposit. The factor for an otherwise identical lease of an '06 GS300 AWD without navigation would be the same, but the residual value would be 55%. For leases with only 10,000 miles per year these residual values would be 1% higher. Car_man Host Smart Shopper / Prices Paid Forums |
|
|
Hi jyurko. the good news is that the lease money factor that you were quoted to lease this car is right in line with Lexus Financial Services' buy rate money factor for it. The bad news is that it still is not very attractive. The selling prices that you were quoted for this car look reasonable to me, but you may want to stop by the following discussion to compare it to what other community members have paid for similar vehicles lately: "Lexus GS: Prices Paid & Buying Experiences". I'm not sure why the payments that you calculated are slightly different than the ones that the dealer that you are working with quoted you, but I cannot double check their calculations because you never mentioned how long these leases are for in your post. Car_man Host Smart Shopper / Prices Paid Forums
|
|
|
Replying to: Car_man (Oct 20, 2005 5:36 am) Thanks!
|
|
|
Replying to: Car_man (Oct 20, 2005 5:31 am) |
|
|
Replying to: jyurko (Oct 20, 2005 8:43 am) 06 GS300 RWD Auto with NAV (no Mark Levinson) Satellite Radio (incl. 1 yr subscription) MSRP is $49129 Deal is $43,779 = Tax and license To lease it: 36 months 15,000 mi/yr Cap Cost $43779 Taxable AMO #299 Bank Fee $600 Total Cap $44678 Cap Reduction $ 3193.95 Residual $26124.66 = 54% Total Drive Off $5000 (incl tax and lic) Money Factor .00255 Monthly Payment $642.48 36 Months at $12,000 mi/yr Cap Cost $43779 Taxable AMO #299 Bank Fee $600 Total Cap $44678 Cap Reduction $3219.11 Residual $27092.24 = 56% Total Drive Off $5000 (incl tax and lic) Money Factor .00255 Monthly Payment at $615.49 (incl tax) Is this a good deal??? |
|
|
You're welcome sam_k. I just saw my first brand new IS250 on the road yesterday. The car is an amazing improvement over the current IS300, but I completely agree that Lexus could have done a better job with the styling of the rear end. Let me know if you have any other questions. Car_man Host Smart Shopper / Prices Paid Forums |
|
|
Hello gap4jason. Let's take a look at the deal that you were quoted for this car. You said that you were quoted a capitalized cost of $43,779 on a car with an MSRP of $49,129 and a capitalized cost reduction of $3,193.95. Let me begin by saying that I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your insurance company pays off the bank that you were leasing it through and your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your GS would be exactly the same, regardless of whether you had put over $3,000 down, or had made absolutely no down payment at all. As far as this car's selling prices goes, if we add the cap cost back into the deal, you are getting the car for around $46,973. This represents a discount of $2,156 from the MSRP that you mentioned. A base '06 GS 300 has a spread of over $5,000 between its full MSRP and dealer invoice prices. As you can see, there is definitely still a lot of room to negotiate with your deal. I am not personally all that familiar with what the market is like on this car right now, but you may be able to get a good idea of how much of a discount you will be able to negotiate by visiting the following discussion: "Lexus GS: Prices Paid & Buying Experiences". As far as this car's money factor goes, the last time that I saw it, Lexus Financial Services buy rate lease money factor for any lease of an '06 GS 300 was .00235 for consumers who qualify for its top credit tier and pay a security deposit. If your credit is in good shape and you are paying a deposit, there may be a little mark-up going on with your car's factor. Car_man Host Smart Shopper / Prices Paid Forums
|
|
You are here:
Forums
Prices Paid: Buying & Leasing Experiences Lexus GS 350 / GS 460 Lease Questions
New? Join Now!
Forum Tools
Search Forums
Browse by Vehicle
2010 Lexus GS 350
2007 Lexus GS 430
2011 Lexus GS 460
Browse by Board
Browse by Topic
Today's Chats
