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Prices Paid: Buying & Leasing Experiences Lexus GS 350 / GS 460 Lease Questions
354 messages, Last post on Nov 23, 2009 at 2:08 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: usp357 (Oct 09, 2008 8:36 am) Would appreciate your input.
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Replying to: rescuu (Nov 12, 2008 9:23 pm) Here's the crib notes version. The best way to get a good deal on a leased vehicle is to negotiate as low a selling price as possible on the car that you want and then have the dealer calculate your monthly payment using its buy rate lease money factor. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Do some research to find out exactly how much you should pay for this car, the "Lexus GS Prices Paid and Buying Experiences" discussion is a good starting point. Then comparison shop with a few dealers in your area and go with the one that gives you the best price, provided you feel comfortable dealing with them. Once you have arrived at a price that you are happy with, have the dealer calculate your car's monthly payment using its buy rate lease money factor. It is important to know what the buy rate is for the car that you want because dealers are often allowed to mark-up or pad money factors to add hidden, back-end profit to deals. Lexus Financial Services' current buy rate lease money factors for the GS 350 AWD are .00120 on the 2009 model and .00015 on the 2008 model for consumers who qualify for its top aka "Tier 1+" credit tier. That's about it. As long as you focus on those two important numbers, the selling price and money factor, negotiating a lease isn't too difficult. Good luck and let us know if you have any other questions. Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Hello, I'm about to pull the trigger on a new 2008 RWD GS350 in Smoky Granite/Black equipped as follows: 18" summer tires Illuminated door sills Navigation Spoiler Ventilated Seats Preferred accessory pkg (mats, wheel locks etc) ML would have been nice but not a necessity - I need to keep the cost down as much as possible. I don't like rain-sensing wipers or the wood steering wheel, and don't need the rear window shade. $49,030 MSRP $41,866 Base Cap Cost $700 Origination Fee .0002 money factor 42% Residual 36 months  12K miles/yr $623/mo + CA tax of $48.28 $1,025 OTD (first payment + DMV fees) Does anyone think I can do better than this, or should I wait for a 2009? The car is brand new (only 14 miles) and is exactly what I wanted if I were to order it. The price I negotiated is $1,750 below invoice, and the interest rate is only .48%. This is really cheap money, the interest for the whole 3 yr term is only $455 - the payments are almost all principal. If I wait for a 2009 I doubt if I could do this for much less than invoice, and the money factor may be higher at that point. By the way, the cost of the car was $384 higher, but I balked at the $700 origination fee, and so forced them to come down to where they are now to help cover it. Any comments are appreciated - Car_man, Anyone? Thank you.
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Hi all. given what I have read here, this offer on a 2009 GS 350 ML loaded looks like it is pretty high. MSRP Price: $52,076 Sale price: $46,250. $300 over Invoice Residual: 42% / Buy Out price: $21,871 MF: .00065 Term: 12k miles, 36 months Acq Fee: 700; etag fees 40 govt fees: 467 no security (assm good credit) dealer fee 699 tag transfer 100 Mpnthly Payment: $699 plus tax Sales manager says "$699 + tax is my best deal I can do with $3500 down. Lexus just does not have any incentives cash to give us to go further down. I'm at Invoice now" This guy pulling my leg here? Think he has some room? Thanks. |
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| Not much activity here. If anyone has any thoughts on the offer I received in post 305 above would be appreciated. Thanks!! | |
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Replying to: gator5000e (Nov 22, 2008 6:51 pm) I think you can do better. Try calling all the dealers around your area. I have never heard of the etag fee or a dealer fee...those are called profit. I also assume the govt fee are you dmv fees? I tried to create your lease payment. The only way I could get it to come to that number is that you also will be paying the 3500 down, the 2006 in fees plus the 699 first payment...then it works out to 699 plus tax. ...I have bought two lexus's 350 for my wife and my mother in law during the last year. In both cases I had to wait until the end of the month to get the deal I wanted....Dont go back to the dealer....do all the rest of your negotiation from home. I purchased those cars at about $1300 below dealers invoice... Good luck and let us know how you did...I am helping my Dad get a car and he is considering this and the BMW.... The GS is a nice car but the residual value at 42% makes this an expensive car to lease. Compare this to the BMW 328i which has a 58% residual after 3 years...
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Replying to: cpa3 (Nov 23, 2008 9:56 pm) If anyone has leased a GS 350 recently, any specifics on MF, prices paid, etc. to assist in my negotiation would be appreciated. And thanks,again, cpa3.
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Replying to: gator5000e (Nov 22, 2008 6:51 pm) |
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Replying to: gator5000e (Nov 24, 2008 6:57 am) Assuming your .00065 is correct that equates to a 1.56% interest rate, which is an excellent rate....To arrive at this you take the lease rate and multiply by 2400...Maybe now that they have started their December to Remember event you can do better...The GS 350 is a great car...Just too bad the residual is so poor... |
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Thanks, myerslaw and cpa3. Does any one know what the December To Remember promotion is exactly? All the lexus.com site says is contact your local dealer. Not much information, really.
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