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Lexus GX 470 Lease Questions

259 messages,  Last post on Oct 27, 2009 at 1:42 AM

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What is this discussion about? Lexus GX 470, Car Leasing, SUV

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#148 of 259 Re: 2007 GX470 December to Remember [pk13] by Car_man HOST Mar 12, 2007 (3:20 am)
Replying to: pk13 (Feb 13, 2007 9:12 pm) Hello pk13. You never mentioned the selling price or MSRP of the GX 470 that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this truck's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to work give you my opinion of this deal if you let me know what these numbers are.   Lexus is not currently providing any lease money factor support on the 2007 GX 470. As a result, if you were to lease one through Lexus Financial Services right now, you would have to use its standard lease money factor. Its buy rate standard factor varies slightly by region, but it should currently be around .00275 for consumers who qualify for its "Tier 1+" credit tier. Its current 36 month, 12,000 mile per year residual value for an '07 GX 470 without the entertainment system option is 56%.   Car_man Host Prices Paid Forum Replies to this message: smartshopper9 (Mar 12, 2007 5:34 pm) Car_man (Mar 13, 2007 2:07 am)
#149 of 259 Re: 2007 GX470 December to Remember [Car_man] by smartshopper9 Mar 12, 2007 (5:34 pm)
Replying to: Car_man (Mar 12, 2007 3:20 am) CarMan, I do not understand how to interpret those lease numbers. We are looking to lease an '97 GX 470 with no options other than the 3rd row. We have good credit, so I asssume we'll qualify for Tier 1. What exactly should we be asking the dealers and what numbers should we be looking at. We are starting competitive pricing now and want to take the vehicle by the end of the month. ALL HELP IS GREATLY APPRECIATED -- We are very confused!!! Replies to this message: Car_man (Mar 13, 2007 2:07 am)
#150 of 259 Re: Residual values on GX470 [hbeltran] by Car_man HOST Mar 13, 2007 (1:57 am)
Replying to: hbeltran (Feb 14, 2007 11:50 am) Hi hbeltran. Your credit score is definitely not low. I believe that Toyota and Lexus Financial Services require lessees to have a score of 730 or higher though to qualify for their "Tier 1+" credit tier. Your score probably qualifiers you for their "Tier I" tier, which usually has factors that are .00010 higher.   Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 GX470 without the entertainment system and with 15,000 miles per year are .00275 and 54%, respectively for Tier 1+ customers. The numbers for an otherwise identical 48 month lease are .00275 and 44%.   Car_man Host Prices Paid Forum
#151 of 259 Re: Residual values on GX470 [pk13] by Car_man HOST Mar 13, 2007 (2:01 am)
Replying to: pk13 (Feb 21, 2007 12:40 am) Hi pk13. You never mentioned the selling price or MSRP of the GX 470 that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this truck's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what these numbers are.   Car_man Host Prices Paid Forum
#152 of 259 Re: March Rates from LExus Financial [whittler2k1] by Car_man HOST Mar 13, 2007 (2:05 am)
Replying to: whittler2k1 (Mar 08, 2007 12:21 pm) Hello whittler2k1. Unfortunately, Lexus is not providing any lease support on the 2007 GX 470 this month. As a result, if you were to lease one through Lexus Financial Services right now, you would have to use its standard lease money factor. Its buy rate standard lease money factor varies slightly by region, but it should currently be around .00275 for consumers who qualify for its Tier 1+ credit tier. This truck's residual values vary by term and mileage allowance. For now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. LFS' current 36 month, 15,000 mile per year residual value for an '07 GX 470 without the entertainment system is 54%.   Car_man Host Prices Paid Forum
#153 of 259 Re: 2007 GX470 December to Remember [smartshopper9] by Car_man HOST Mar 13, 2007 (2:07 am)
Replying to: smartshopper9 (Mar 12, 2007 5:34 pm) Hi smartshopper9. It sounds like you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.   Basically, the two most important numbers to focus on when negotiating a lease are your vehicle's selling price and the money factor that is being used to calculate its monthly payment. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Shop around and negotiate the lowest possible selling price for the GX 470 that you want and then have the dealer that gives you that price calculate its monthly payment using its buy rate lease money factor.   Car_man Host Prices Paid Forum
#154 of 259 Looking for current money factor and residual values by mikem15 Mar 22, 2007 (5:16 pm)
Have gotten what I feel is a good offer but would welcome other feedback. I am looking at the '07 GX 470 with the $8,736 package (this includes the navi, 3rd row seat, rear entertainment, tow package, chrome exhaust, lexus link, rear spoiler). The MSRP is is $56,086 and the dealer is offering to sell the me the car at $49,301. The truck is black onyx and I like the color but realize it probably is not the hottest selling color. They are quoting me a MF of .00265 for 15K/year, 36 month lease, 53% residual through Lexus financial. Lease fee up front of $600 with payments of $799 including tax (6.5%). Total due at signing of $1,100.   By reading this forum, I feel the MF is good but am worried that the residual is low. With the entertainment package, shouldn't it be higher and around 56%? That of course would make a big difference in payments. Any one know of another leasing company or bank offering bettter MF or residual?   This forum has been a great refrence source, much to the dismay of the dealer!! Thanks for helping the little guy win one! Replies to this message: Car_man (Apr 09, 2007 3:24 am)
#155 of 259 Re: 2007 GX470 December to Remember [hoggolfer] by sengopalcricke Mar 23, 2007 (8:16 am)
Replying to: hoggolfer (Dec 20, 2006 10:45 am) Hi Hoggolfer, I am from Arkansas. Could you please give me the dealer and client advisor info in Dallas. It is ok to pm me. Thanks in advance
#156 of 259 Is this a good lease offer for 2007 GX 470? by lexie23 Mar 28, 2007 (10:01 pm)
Hi Car_man,   I'm new to this forum, but glad I found you guys! I was offered this quote thru an internet fleet site. What do you think? They would order (approx. 6-7 weeks) for delivery. Seems there aren't many fully loaded in CA.? Keep in mind my FICO is over 700.   2007 GX 470 Fully Loaded (excluding XM Sattelite)   $56,717. MSRP   $49,295. Cap Price $25,420. Residual Value (45%) .00202 Money Factor 7.75% Sales Tax   Base Payment: 654.29 Total Monthly Payment: 704.99 (includes tax)   Disposition Fee: 395. 1 Month Payment: 704.99 Fees & Ins: $416. (not sure what this is) Upfront Tax: $52.44 (not sure what this is) Cap Reduction (Cash) $626.57 (not sure what this is) Total Out Of Pocket: $1800. (doesn't add up?)   12,000 Miles 0.18 Excess Mileage Charge   Thanks for any and all help! =)
#157 of 259 Re: Looking for current money factor and residual values [mikem15] by Car_man HOST Apr 09, 2007 (3:24 am)
Replying to: mikem15 (Mar 22, 2007 5:16 pm) Hello mikem15. I'm glad that you have found this forum so helpful. It's amazing how much of a spread there is between this truck's MSRP and its dealer invoice price. The truck that you described probably has around a $7,800 margin between these numbers. You are being quoted a $6,785 discount on it, which is pretty good but you may want to stop by the following discussion to see how much other community members have paid for similar trucks lately before finalizing your deal: george05, "Lexus GX 470: Prices Paid & Buying Experience" #, 5 Sep 2003 4:02 pm.   Lexus is not currently providing any lease support on the GX 470, so if you were to lease one through Lexus Financial Services right now you would have to use its standard lease program. Fortunately, the money factor that you were quoted is right in line with LFS' current buy rate standard lease money factor, The residual value is what it is. Individual dealers do not have the authority to alter banks' published residuals. Of course, you might be able to get a better residual value by leasing through an independent bank, but I have not heard of any that have a more attractive lease program on this model than Lexus Financial does right now.   Car_man Host Prices Paid Forum

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