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You are in the Prices Paid - Buying & Leasing Experiences
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Lexus GS 350, Lexus GS 430, Lexus GS 460, Car Buying, Car Leasing, Sedan
#211 of 954 2008 gs350 awd lease questions
Dec 12, 2007 (2:11 pm)
can someone offer me some guidance
i'm looking at leasing a 2008 gs 350 awd
msrp is $50,470.00 according to the lexus website
i'd like to do a two year lease with 12k per year, as little down as possible
what price should i be shooting for? what's the mf and residual?
i want to compare this lease with the mercedes e350 4matic.
also, pardon my ignorance, but what is MSD?
thanks for your help!
#212 of 954 Re: 2008 gs350 awd lease questions [crestonave]
Dec 12, 2007 (3:02 pm)
I ended up purchasing a 2007 gs last spring, because the lease rates/costs from Lexus were outlandish compared to the Mercedes E series. (at least 50% more than the E350). For whatever reason, the Mercedes leases -- and you should check carman's forum for Mercedes -- are far less expensive. The residual on the Mercedes is much higher than the Lexus (and I am mystified about that -- given the long-term reliability of the GS). Hope this provides some help.
#213 of 954 Please evaluate my deal:
Dec 18, 2007 (6:20 am)
December to remembers Northeast Deal.
2008 GS350 AWD with Nav. (No ML) MSRP: 51,135.00
Cap cost: 2,500.00 + Tax, Bank Fees, DMV fees = Total Due at signing: $5,985.38.
Term: 39 months.
Mileage Restriction: 10K a year.
Option to purchase: $26,9XX.XX
Did I get robbed?
P.S. I traded in a car worth $3,500.00, am I supposed to have this portion exempt from tax on the down payment / cap cost?
#214 of 954 Re: 2008 gs350 awd lease questions [myerslaw]
Dec 18, 2007 (6:40 am)
Yes, your post was very helpful, thanks! I've been checking the Mercedes forum as well. If you're leasing, the higher the residual the better. Mercedes is currently pushing 24 mo leases where Lexus is offering 36 or 39 mo leases, and I'm not sure I want to be in the car that long. I'm guessing that Mercedes will do rather well selling two year old cars coming back off lease. Friends of mine in the business tell me that they make a heck of a lot more money selling cars that came in on trade than they do selling new cars.
#215 of 954 Re: Please evaluate my deal: [gb350]
Dec 18, 2007 (6:56 am)
I'm no expert, but this is the exercise I would have gone through were I in your position:
Your 39 monthly payments plus your downpayment total 24730. If you add 24730 to the residual, your total is 51630 vs a 51135 sticker price. If you exercise the option to purchase, you've essentially gotten a 39 month interest free loan on the car. Of course, you're paying sticker, and I don't know to what extent Lexus discounts, but seems ok to me. If your trade in is on top of these numbers, then 3500 works out to around 7% simple interest. Still not bad.
Anyone see a fault with my logic or math?
#216 of 954 Re: 2008 gs350 awd lease questions [crestonave]
Dec 18, 2007 (10:34 am)
I believe message #207 & 209 answer your questions on leasing a GS350 awd.
As for MSD, it's Multiple Security Deposits and it's a program that Lexus offers to lower the MF for each add'l security deposit placed on a lease. It's better than a cap reduction, since you should get all your deposits back when you return the car.
#217 of 954 buying a gs.maybe
Dec 27, 2007 (6:19 am)
Hi,I have been reading these posts awhile and just joined. I was hoping to get close to "invoice" this is not happening for me even in the best of weeks to buy
(year end) Rolling tax in to selling price 39mo 12k...Am I unrealistic thinking $725-750 mo can be had with current money factor.(2nd lexus,best credit) I am terrible with # and don't know if this can be done on lets say $46,000. Is this do-able or am I asking the impossible of a gs dealer?
#218 of 954 Re: buying a gs.maybe [newcarz]
Dec 27, 2007 (9:31 am)
I think this definitely can be done. You will probably pay around $1700 out of pocket though (taxes being rolled in). That also depends on the state. I just leased 2008 GS350 AWD with navigation and all the other small options, but excluding MS, Laser Cruise, and Lexuslink. I negotiated the car down to about $45,700 (not best deal but decent with MSRP being $50,890, and invoice being $45,100 on this one including stupid ad fees which no local or not so local dealer wanted to budge on). With December to Remember Lexus Financing 0.00185 MF, 50% residual on 36 months, 15K miles a year, I got that for $3900 (taxes, tags, title, doc fee *grrrr*, first payment) out of pocket with $699/month payments. You figure that 3K of extra miles (compared to you) is $30, so say $670 is what you would be looking for, but throw in extra $75 or so for taxes. You wind up with $745/month with taxes rolled in. That's in MD, with 5% tax paid on the full price of the vehicle (yeah, it sucks here), and your mileage may vary.
All that said, it probably makes more sense to buy GS instead of renting since residual is low and MF is not really super. As a comparison, BMW 535xi residual is 61% I believe on 36months and 15K miles per year lease.
#219 of 954 End of the year December to Remember
Dec 28, 2007 (2:58 pm)
Alright, here's a step by step breakdown of the costs, so that you can have an advantage when you buy or lease the car.
First off I should say that I purchased an add on of XM radio for $299 from the dealer. The XM was already installed by the dealership and they wouldn't take it out since it was installed. The car was the color and options I wanted so I relented and paid the 299. It's a decent deal for XM since Sewell sells the XM add on for $299 online and I got it installed for free with 9 months of service. Anyway, just wanted to state this because I see people post that they paid a certain price or invoice or below but don't reveal that they bought extra crap like a warranty or LoJack and overpaid for those items so of course they get the car for under invoice, since they got ripped off on the other stuff.
36 month lease with 15K miles per year.
Sales price: $45764 (This price is invoice found on edmunds + TDA (advertising fee) of $552)
Acquisition fee: $600
Registration, license: $364
Document prep: $48.71
Other fees: $8.75 (California Tire Fee)
Gross Capitalized Cost $46,364 (sales price + acquisition)
Current Money Factor for 36months 15K: .00185
Discount for putting down 9 refundable security deposits: 0.00072
Final Money Factor: .00113
Residual = 49% = $25,438.35
Total monthly payment with 8.25% tax = $717.06
I put no money down on the lease, I did make a 100% refundable deposit of $6,525 that saves me roughly $2,000 over the 3 years, not a bad investment since that money would of just been sitting in the bank, earning low interest and being taxed.
Total drive off was $7,672.86, $6525 of it are the MSDs and $1,147.86 was first months payment, license, tax etc.
#220 of 954 Re: End of the year December to Remember [moolman]
Dec 31, 2007 (7:14 pm)
Where are you located? I am in Bellevue, WA and they barely budge off of invoice, but I have them down about $3k off invoice. Did you get AWD?