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Lexus ES 350, Car Leasing, Car Buying, Sedan
#167 of 871 Re: Lexus ES 350: Lease Questions [pat]
Jun 15, 2007 (10:01 am)
I can lease a 2007 Lexus ES 350 Premium Package (No NAV) for $553 a month. My terms are 36 months, 15,000, $1000 downpayment, CAP COST=$33,404, Residual=$20,188.
I can also lease a 2008 Lexus RX 350 Premium Package Plus 2WD (No NAV) for $568 a month. My terms are 36 months, 15,000, $1,000 downpayment, CAP COST=$37,360, Residual=$23,237.
What do you think of these two deals? How much/can I get the dealership to lower the monthly payment?
#168 of 871 is this a good deal???
Jun 15, 2007 (8:46 pm)
Hi , i live in roseville, CA and this is the best deal i have found on leasing a new Lexus ES 350 (a base model with leather, moonroof, no nav system, no park assist, etc. pretty basic)
36 months, 15,000 miles per year
$588 per month after taxes (of 7.25% in CA)
What do you guys think??? (FYI - my credit score is around 775)
#169 of 871 Re: Lexus ES350-Thanks to You [orlandofl0]
Jun 20, 2007 (2:16 am)
Hi orlandofl0. I believe that closer43 negotiated a selling price of $37,200 on an '07 ES 350 that has an MSRP of $41,322. Using these prices, I estimate that your zero down, pre-tax monthly payment for a 36 month lease with 12,000 miles per year would be around $557.
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#170 of 871 Re: Best time of year to get a deal on a lease [hill0523]
Jun 20, 2007 (2:23 am)
Hi hill0523. As I always say, it is difficult to predict exactly what manufacturers will do with their future lease programs. If I had to make an educated guess, I would say that Lexus' will continue its lack of lease support on the 2007 ES 350. If that is indeed what happens and its residual values fall as the model year moves on, this car will become progressively more expensive to lease. One of the best times to lease a new Lexus is during its "December to Remember" sales event, but that is a long time from now.
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#171 of 871 Re: 08' ES 350. [lukesdaddy]
Jun 20, 2007 (2:26 am)
Hi Lukesdaddy. I don't believe that Lexus has officially announced its pricing for the 2008 ES 350 yet. If It has, I haven't seen it. As far as this car's lease program goes, Lexus is not currently providing any sort of lease support on the 2007 ES 350. I suspect that this will be the case with the 2008 model as well. If so and you were to lease one through Lexus Financial Services, you would have to use its standard lease money factor. Its current buy rate standard lease money factor for consumers who qualify for its "Tier 1+" credit tier and pay a security deposit at lease signing should be around .00275.
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#172 of 871 Re: is this a good deal??? [heidibrat]
Jun 20, 2007 (2:34 am)
Hello heidibrat. You never mentioned the selling price or MSRP of the car 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 car'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.
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#173 of 871 Re: is this a good deal??? [Car_man]
Jun 20, 2007 (7:33 pm)
The MSRP is $37,387 (includes destination), the selling price is $33,904. Term is 36 months, 15,000 mi per year. My down payment is $925 with $588 in monthly payments. My credit score is 764. Is this a good deal? THANKS!!
#174 of 871 Re: is this a good deal??? [heidibrat]
Jun 26, 2007 (9:43 am)
Given the additional info you provided in your post #173, I'd say that $588/month is a bit too high. Granted my lease is 36/12K, but MSRP on my ES (UL w/ nav) was $44288, w/ a selling price of $39963...yet my payments are pretty much identical to what you were quoted; all I paid up front was the acquisition fee. I honestly would find it a bit hard to fathom that the difference in residual between a 36/15K and 36/12K lease would account for the $6000 difference in selling price...but maybe Car_man could very well prove me wrong since he is the expert when it comes to car lease figures.
And oh yeah--my credit score was (unfortunately for me) quite a bit lower than yours...meaning that the rate I got was probably higher than what you may very well wind up with...thus making it a bit more harder to understand how your monthly payment could be the same as mine.
FWIW--I notice you're in Roseville, CA (I'm from Rocklin); you wouldn't happen to be getting those quotes from Lexus of Roseville? I ask because when I was shopping for mine, L of R would not even touch the deal I got from Coliseum Lexus of Oakland (that was back in 8/06, but I would imagine L of R still won't be willing to compete w/ many of the Bay Area Lexus dealers since they really believe the majority of folks who live in the Roseville/Rocklin area must be earning tons of money). Guess where I wound up buying my ES from? Definitely not from Roseville...
#176 of 871 Re: Money Factor Buy Down [Car_man]
Jun 26, 2007 (12:54 pm)
Sorry put this in the wrong car category
Hey car_man sent this to your email but repeating it here to make sure:
i've least a couple of Lexuses(or Lexi) in the past. Both times I was able to use multiple deposits to lower the money factor. Was also able to do this with a BMW lease. Do you know if it is still possible with Lexus and what the discount would be per deposit? I believe the last time (on a 1999 GS400) it was .0001 per deposit.