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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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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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Car_man - do you know the current money factor and residual for a 60 month, 12k per year lease for the GS300?
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Hello Car man, This is a great resource you provide for the members here, thanks for taking the time. I have two questions for you today. I'm looking for a lease on a 2006 GS300 AWD. Now that December to Remember is upon us, can you tell me what the current MF's and residuals are on a 36mo and a 24mo lease both at 12k mi. Also, I was at a dealership in NJ and was quoted the following lease on the above vehicle. We agreed on a selling price of $43,900. We then discussed lease programs and was advised that LFS current programs were not competitive and offered the following lease (from Hann Financial) which I have not accepted yet. He never did tell me what LFS had to offer. 2006 GS300 AWD MSRP 48,414. Sell Price 43,900 Cap Reduction 2500. (I know, I know...) Residual 63% MF .0026 I only know the MF and residual because I could read it accross the desk. Term 32mo 10,000 mi NJ tax 6% Mo Payment 533.22 Fees outside the loan: down payment 1st month No Sec Bank fee 600. Reg 250. Doc 199. I think I will try another dealer who might be a little more forthcoming on current lease #'s
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Replying to: Car_man (Dec 01, 2005 3:32 am)
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Replying to: michaels6 (Nov 29, 2005 7:13 pm) I live in San Diego. Got the quote at Kearny Mesa Lexus through the internet sales department. |
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