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Lexus ES 350 Lease Questions

478 messages,  Last post on Dec 05, 2009 at 11:14 PM

You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx

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


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#327 of 478
Re: So here's the offer...let me know what u think... [scoot84] by climbonboard
Aug 03, 2008 (10:33 am)
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Replying to: scoot84 (Aug 01, 2008 12:33 pm)

Assuming that your money factor and residual are the same as you said above (.00065 and 52%), and at a sticker price with options of $39,475 you should be paying $431.76 and not $438.37.
I just used the Edmunds.com lease calculator. (http://www.edmunds.com/advice/leasing/articles/48365/article.html)
 
Also, Bank Fee, Doc Fee, Tire Tax are BS fees, and especially at $1060 (=$1500 inception - $438.37 first month's payment).
 
TTL is legitimate = Tax, Tag, License.
Tag and License =$200 so $1060 is overpaying by $860.
#328 of 478
Re: So here's the offer...let me know what u think... [climbonboard] by scoot84
Aug 03, 2008 (6:19 pm)
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Replying to: climbonboard (Aug 03, 2008 10:33 am)

Thanks for the info Climbonboard. In your experience have you been able to get dealers to waive the bank fee, doc fee and tire tax? The tire tax is like $7 so not that concerned there, but the doc fees and bank fees add up to roughly $1000 out of pocket.
 
Also, what about the destination charge of $850? Is that legit?
 
I am going to the dealer on Monday night to discussgetting this deal done and would love to know if I should stand hard on the fact I am not paying those fees.
 
Thanks again.
#329 of 478
Re: Lease question on ES350 [wrinni] by Car_man HOST
Aug 04, 2008 (1:42 am)
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Replying to: wrinni (Jul 21, 2008 6:36 pm)

Hi wrinni. On July 25th, Lexus enhanced its lease program on most models. You never mentioned what state you are in and Lexus' lease program often varies by region, but in most of the country right now Lexus Financial Services' current buy rate lease money factor for the 2008 ES 350 is .00065 for consumers who qualify for its Tier 1+ credit tier. This is obviously a lot better than the factor that you were quoted. Make sure that the dealer uses the lower one to calculate your car's monthly payment.
 
The $600 acquisition fee is legitimate. LFS charges this fee on every vehicle that it leases. The doc fees on the other hand vary from dealer to dealer. While most dealers charge one, some dealers charge a lot more than others. Make sure to look at the $600 doc fee as part of your car's total selling price. If you feel that your total selling price for the ES that you want including the fee is lower at this dealer than it would be elsewhere, go for it. If not, you might want to shop around.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
#330 of 478
Re: money factors [qkslvr] by Car_man HOST
Aug 04, 2008 (1:53 am)
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Replying to: qkslvr (Jul 24, 2008 6:58 am)

Hello qkslvr. The money factor that you were quoted is definitely way too high. On July 25th, Lexus enhanced its lease program on most models. I have not seen the specific numbers for the Houston area, but in most of the country right now Lexus Financial Services' current buy rate lease money factor for the 2008 ES 350 is .00065 for consumers who qualify for its Tier 1+ credit tier. Make sure that the dealer uses the lower one to calculate your car's monthly payment.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
#331 of 478
Re: August 08 money factor and residual % on es 350 [scoot84] by Car_man HOST
Aug 04, 2008 (1:57 am)
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Replying to: scoot84 (Jul 24, 2008 12:01 pm)

I'm glad that you have found this forum so helpful, Scott. Here's the information that you're looking for. Lexus Financial Services' new buy rate lease money factor and residual value for a 36 month lease of a 2008 ES 350 with 12,000 miles per year are .00065 and 52%, respectively for consumers who qualify for its Tier 1+ credit tier in your area.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
#332 of 478
Re: Lease question on ES350 [Car_man] by wrinni
Aug 04, 2008 (8:08 pm)
Reply

Replying to: Car_man (Aug 04, 2008 1:42 am)

Thank you very much. This forum has helped me learn so much about leasing. I finally felt confident enough to know what would be a good deal. If it weren't for everyone on this site sharing their experiences, I know I would've been ripped off. Thanks again
#333 of 478
OTD on a Lease? by yukonballer
Aug 06, 2008 (4:04 pm)
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Hi Car_Man,
 
May I ask your assistance on this deal I am working on. This is my first time leasing, on my current camry I only dealt with the OTD price (after TT&L). I was able to get a dealer to go $38k OTD ($40,315 MSRP), I would like to lease as to keep my monthly payments low. But I do plan to purchase at end-term..
My question is, after reading through this forum. How can a dealer go about doing OTD when LFS determines the residual (that later will be taxed when I buy) and therefore I end up paying more? Is the dealer pulling one on me?
 
Thanks in advance!
#334 of 478
Re: Lease question on ES350 [wrinni] by Car_man HOST
Aug 07, 2008 (3:02 am)
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Replying to: wrinni (Aug 04, 2008 8:08 pm)

You're very welcome, wrinni. I'm glad that you've learned so much from visiting this forum.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
#335 of 478
Re: Lease question on ES350 [Car_man] by yukonballer
Aug 07, 2008 (9:04 am)
Reply

Replying to: Car_man (Aug 07, 2008 3:02 am)

Hi Car_Man,
  
May I ask your assistance on this deal I am working on. This is my first time leasing, on my current camry I only dealt with the OTD price (after TT&L). I was able to get a dealer to go $38k OTD ($40,315 MSRP), I would like to lease as to keep my monthly payments low. But I do plan to purchase at end-term..
My question is, after reading through this forum. How can a dealer go about doing OTD when LFS determines the residual (that later will be taxed when I buy) and therefore I end up paying more? Is the dealer pulling one on me?
  
Thanks in advance!
#336 of 478
Re: Lease question on ES350 [yukonballer] by Car_man HOST
Aug 08, 2008 (1:22 am)
Reply

Replying to: yukonballer (Aug 07, 2008 9:04 am)

Hi yukonballer. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. It's true that the depreciation portion of your lease payment is determined by taking a percentage of your car's full MSRP, however the interest portion of the payment is based upon its selling price. The lower your car's selling price is, the lower its monthly payment will be.
 
I hope that this answers your question for you. Since this is your first time leasing, it might be a good idea for you to 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.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum

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