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Prices Paid: Buying & Leasing Experiences Lexus ES 350 Lease Questions
473 messages, Last post on Dec 01, 2009 at 12:43 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
This is my first venture into Japanese luxury cars. I have had 3 Corvettes (in my 20's, that was fun) and then 5 Benzes to follow. I haven't even taken this ES350 for a test drive! However, I do have a question...regarding the leasing. Is it true that dealerships use credit scores as a bargaining chip and that it really doesn't matter? Not that I have bad credit, but I always read that you don't tell them how good or bad your credit score is. What is Tier 1 pricing according to Lexus? Is it a perfect 850 credit score or are they more reasonable? I am in the mortgage biz, so credit scoring is something I know something about. I just want to know from a car buying/leasing perspective what the general guidelines are like. Thanks.
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I am leasing 2008 ES 350 w/Ultra Luxury Package, Nav w/Mark Levinson and Intuitive Parking Assist in GA. 36 month/12K MSRP 45285. MF 0.00065. Residual, I was told at one dealership that residual for Ultra Luxury Package is 50% and the other dealership told me it was at 52% (???). The quote I get is 560 per month incl 7% GA tax. No money down, just acquisition fee of 389 plus DMV fee of 41. If the quote was done based on 50% Residual than Cap Cost is at 40000. Payment ~ $523 + $37 tax. My questions are: What is a 'True' Residual value for this Model? How good is this deal? Do I have any more room to lower my payment? Thanks, Stan
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| I guess we need to delve more into credit scores and pricing. Tiers, etc. That is the only way, truly, to see if one is getting a good deal on a lease or not. I just pulled my credit before I finally went and took an ES for a test drive. (by the way, liked it well enough to live with it for 36 months). My Beacon is 687 (not bad, used to be 720)...this should be decent enough to get pretty good pricing, don't you think? Someone needs to address the credit thing, because it is important to the leasing equation. | |
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Replying to: gbh43 (Aug 11, 2008 1:32 pm) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: fusilli (Aug 15, 2008 2:41 pm) Car_man Host Prices Paid: Buying & Leasing Experiences Forum
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Replying to: Car_man (Aug 20, 2008 2:29 am)
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hi, first off i wanna say that i am new here, and new to the whole leasing process. reading the previous posts has given me some insight into the whole leasing procedure, but i still have a long way to go. im thinking of jumping on the ES 350, $449 /month , with $0 due at signing( thats what the advertisement on lexus.com and the newspaper ad say)., 48 months and 10 k/year. The 4 years is the only thing that is really holding me back, 36 months sounded much better to me. i spoke to the local dealer, and they said it comes to around $ 475 (with Kentucky taxes), and would owe out of pocket around $ 920 ( includes the first months payment, plus taxes and title). Haven't spoken to them about the entire breakdown, just wanted to get some opinions here, does that sound decent. This is ofcourse with the TIER 1 plus credit. The car offered is the with premium package without the Nav. Thanks in advance.
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Replying to: fusilli (Aug 20, 2008 6:07 am) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: spygame (Aug 20, 2008 11:35 pm) The best way to evaluate the deal that you were quoted is to find out what selling price the dealer is charging you for the car that you want. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Shoot for a selling price that is as close to dealer invoice as possible. Once you have arrived at a selling price that you are comfortable with, have the dealer use Lexus Financial Services' buy rate lease money factor to calculate your monthly payment. LFS' current buy rate for a 36 to 48 month lease of an '08 ES 350 is .00065 for consumers who qualify for its Tier 1+ credit tier. Car_man Host Prices Paid: Buying & Leasing Experiences Forum
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Replying to: Car_man (Aug 21, 2008 1:44 am) |
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