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Lexus ES 350 Lease Questions

313 messages,  Last post on Jun 24, 2008 at 6:56 PM

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What is this discussion about? Lexus ES 350, Car Leasing, Car Buying, Sedan

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#184 of 313 Re: Lease on ES 350 Luxury. [espo1] by tocapalla Jul 20, 2007 (2:05 pm)
Replying to: espo1 (Jul 20, 2007 1:46 pm) Just looked at the e-mail the salesman sent me and it DOES say 3.55 with the residual value of $21986. However, it was for 35 not 39 months. I'm in MS so there is no sales tax per se, but my tag will be around $900 up front. Isn't the 3.55% WAY too high? I think they are trying to make up for the MSRP discount on the back end, don't ya'll?
#185 of 313 Lease questions by tampa350 Jul 21, 2007 (6:53 am)
Car Man,   I'm in the market to lease or buy a 350 and was wondering what you think my payment should look like. MSRP $41,322. Negotiated price $36,980. Tier 1 credit. Looking at a 36 or 48 month lease with 21k miles per. Does it make more sense to buy? Why don't you suggest to put more money down on a lease or pay it off up front to save interest expense? Thanks for any help. Replies to this message: Car_man (Jul 31, 2007 3:05 am) 4barbara (Aug 19, 2007 9:17 pm) Car_man (Sep 07, 2007 2:54 am)
#186 of 313 BUNK? by tocapalla Jul 21, 2007 (7:20 am)
I e-mailed the salesman and told him the 3.5 money factor was way too high. His reply was that the rates are controlled by the banks and this is the best he could do, but the $36962 price was $300 above invoice and I would not be able to beat it. Isn't this BUNK? Should I tell him I KNOW he can do better and offer a different rate and go elsewhere if they won't budge? We havn't gotten so far for them to check my credit, so I know that is not a factor. THANKS for any advice. Replies to this message: espo1 (Jul 21, 2007 6:46 pm) espo1 (Jul 21, 2007 6:53 pm) tocapalla (Jul 25, 2007 3:57 pm) Car_man (Jul 31, 2007 3:09 am)
#187 of 313 Re: BUNK? [tocapalla] by espo1 Jul 21, 2007 (6:46 pm)
Replying to: tocapalla (Jul 21, 2007 7:20 am) Take a look at the deal. If they are leasing the car for a cost of $36962 and the Res. is $21986 than the rent is $14976 divided by the length of the loan 36 mon. So a part of your monthly nut is $416. That means that if there is no taxes figured in the deal your paying $268 a month finance charges ($684) which means your APR is close to 8% If your salesman is saying your money factor is 3.55 ask him is that the APR because money factors are in decibels. a normal money factor from Lexus Finance for excellent credit is .00275 which converts to an APR of 6.6%
#188 of 313 Re: BUNK? [tocapalla] by espo1 Jul 21, 2007 (6:53 pm)
Replying to: tocapalla (Jul 21, 2007 7:20 am) By the way how can they offer you a deal with out checking you credit? Your credit is a big factor in figuring the rate of finance charges which is the money factor. Replies to this message: tocapalla (Jul 25, 2007 3:57 pm) Car_man (Jul 31, 2007 3:09 am)
#189 of 313 Re: BUNK? [espo1] by tocapalla Jul 25, 2007 (3:57 pm)
Replying to: espo1 (Jul 21, 2007 6:53 pm) THANKS for all the help ya'll. To answer your question, I don't know. We were just communicating via e-mail. Wouldn't budge on the money factor, so no more communication. Which brings me to my next question,   Anyone know the specifics of "The Event" lexus is now advertising? Money factor rates? Terms, etc.? Replies to this message: Car_man (Jul 31, 2007 3:09 am)
#190 of 313 Re: Money Factor Buy Down [espo1] by searchingfor Jul 26, 2007 (8:38 pm)
Replying to: espo1 (Jun 26, 2007 1:54 pm) Please can any body here can confirm that we can reduce the money factor by .0001 per security deposit?   Also, I would like to know what is the max no. of security deposits we can make at the time of the lease?   Thank you, Replies to this message: espo1 (Jul 27, 2007 12:44 pm) Car_man (Jul 31, 2007 3:11 am) bluerascal (Aug 05, 2007 2:29 pm) Car_man (Sep 07, 2007 2:47 am)
#191 of 313 Re: Money Factor Buy Down [searchingfor] by espo1 Jul 27, 2007 (12:44 pm)
Replying to: searchingfor (Jul 26, 2007 8:38 pm) I believe every deposit lowers the money factor by .00008 and a maximum of 9 deposits for a total lowering of .00072.
#192 of 313 Re: is this a good deal??? [heidibrat] by Car_man HOST Jul 30, 2007 (3:45 am)
Replying to: heidibrat (Jun 20, 2007 8:33 pm) Hi Heidibrat. The car that you described has a spread of around $4,300 or so between its full MSRP and its dealer invoice price. You are being a discount of a little over $3,400 on the car that you are interested in. That probably puts you at around $800 or so over invoice, which is a pretty good deal on a Lexus.   If you haven't leased this car yet, you're in luck. Lexus recently enhanced its special lease money factor on it to .00245 for Tier 1+ customers for its new sales event. If you use the aforementioned selling price and this money factor to lease this car you are getting a good deal.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum
#193 of 313 Re: Money Factor Buy Down [espo1] by Car_man HOST Jul 30, 2007 (3:47 am)
Replying to: espo1 (Jun 26, 2007 1:54 pm) Hi espo1. The last time that I looked into making multiple security deposits on a Lexus lease, Lexus Financial Services provided a .00010 money factor reduction for every additional deposit made, up to a max of nine extra deposits. This program is not available in some states, like New York.   Car_man Host Prices Paid: Buying & Leasing Experiences Forum Replies to this message: espo1 (Jul 30, 2007 12:46 pm)

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