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Prices Paid: Buying & Leasing Experiences Lexus GS 350 / GS 460 Lease Questions
357 messages, Last post on Dec 07, 2009 at 2:59 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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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 |
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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
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Replying to: Car_man (Oct 20, 2005 5:36 am) Thanks!
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Replying to: Car_man (Oct 20, 2005 5:31 am) |
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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??? |
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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 |
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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
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Replying to: Car_man (Nov 02, 2005 3:24 am) Now that the December to remember sales event is under way have you rec'd any feedback on what type of deals Lexus is running? I have rec'd a quote from a dealer through the internet sales department for a GS300 '06 w/ ML Navigation MSRP $48,424 Selling Price $43,424 Given the sale price $5K below the sticker price I would assume the pricing is close to where I want it to be. Any idea what the money factor and residual would be on a 36 month lease, 12K miles/year? Kevin (SoCal) |
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Replying to: kssully71 (Nov 28, 2005 2:32 pm) Where in So. Cal did you get that price? I'm looking to lease an ML equipped GS300 presently and would like to check it out. Appreciate your help.
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Replying to: kssully71 (Nov 28, 2005 2:32 pm) Car_man Host Smart Shopper / Prices Paid Forums
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