- #9 of 16
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Re: 2007 SC430 [dallexus]
by Car_man HOST
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Jan 18, 2007 (3:52 am)
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Replying to: dallexus (Dec 13, 2006 9:32 am)
Hi dallexus. Even though they are getting all of the money for your lease in advance, banks that offer One Pay leases, aka Advance Pay leases, still charge interest. They do usually provide a reduction in the interest rate that is used to calculate the cost of the lease though. Specifically, Lexus Financial Services reduces vehicles' money factors by .00100 for consumers who pay for their entire lease in advance. Unfortunately, Lexus is not currently providing any sort of lease support on the 2007 SC 430 right now. If you were to lease one through Lexus Financial Services, you would have to use its standard lease program. Its buy rate standard lease money factor varies slightly by region, but it should currently be around .00275 for consumers who qualify for its top credit tier. If you pay for your entire lease in advance, this factor would drop to .00175. I would be happy to estimate what the cost of a One Pay lease on this car would cost right now, but in order for me to do so I need some additional information from you first. This information includes this car's full MSRP, its approximate selling price, and how many miles per year you need to be able to drive it. Let me know and I'll crunch some numbers for you.
Car_man
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- #10 of 16
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Re: Lexus SC 430: Lease Questions [Car_man]
by glh
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Jan 28, 2007 (7:02 am)
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Replying to: Car_man (Aug 31, 2005 3:30 am)
I am looking into buying/leasing a 2007 SC430. The MSRP would be $67,735. I would do a 36 month, 12k miles lease. In order to get the car I want they will probably have to order it. Will that impact the pricing?
How can I calculate the advantage of leasing over buying?
Thanks!!
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- #11 of 16
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Re: Lexus SC 430: Lease Questions [glh]
by Car_man HOST
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Feb 11, 2007 (9:22 am)
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Replying to: glh (Jan 28, 2007 7:02 am)
Hi glh. While technically there is no additional charge for ordering a new vehicle, dealers are usually more willing to provide attractive prices on vehicles that they already have in inventory than on ordered ones. There are two main reasons for this. The first is that dealers are constantly paying "floorplan" interest on the vehicles that they have in stock. The sooner they sell them, the sooner they can stop paying interest on them. The second reason is the old saying "a bird in hand is worth two in the bush." A lot can happen to ruin a deal between the time that a consumer orders it and they physically take delivery of it. Dealers would rather finalize deals immediately than rusk losing a deal.
Lexus is not currently providing any sort of lease support on the SC 430. As a result, if you were to lease one through Lexus Financial Services right now you would have to use its standard lease program. Its buy rate standard lease money factor usually varies slightly by region, but it should be around .00275 for consumers who qualify for its "Tier 1+" credit tier. This is equivalent to an interest rate of around 6.6%. Furthermore, LFS' residual values for the '07 SC 430 are decent, but nothing to write home about. There's nothing wrong with leasing this car, but the program that is available on it right now is not attractive enough to push one in that direction.
Car_man
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- #12 of 16
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Car Man?
by bslusher
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Jan 07, 2008 (4:07 pm)
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Car man! What does .00255 mean? I understand the 52%. If car's price is 65,000, how do they figure the lease payment? This leasing is all new to me. Thanks in advance.
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- #13 of 16
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Re: Car Man? [bslusher]
by kyfdx HOST
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Jan 07, 2008 (7:08 pm)
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Replying to: bslusher (Jan 07, 2008 4:07 pm)
Calculate Your Own Lease Payment
Leasing Tips
Enjoy!
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- #14 of 16
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Re: Car Man? [bslusher]
by Car_man HOST
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Jan 31, 2008 (2:18 am)
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Replying to: bslusher (Jan 07, 2008 4:07 pm)
Hey bslusher. The articles that kyfdx directed you should answer most of the questions that you have about leasing. .00255 is this car's money factor. Most banks use money factors instead of interest rates to calculate the interest portion of lease payments. You can convert money factors into approximate money factor equivalents to see how good they are by multiplying them by 2400. So, a money factor of .00255 would be equal to an interest rate of around 6.12%.
Car_man
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