Sign In Join 

You are here: [F] Forums / Prices Paid: Buying & Leasing Experiences / Lexus ES 350 Lease Questions



Lexus ES 350 Lease Questions

472 messages,  Last post on Nov 25, 2009 at 12:37 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


Messages Page 36 of 48
1
...
33
34
35
36
37
38
39
...
48
Prev
Next
Last
Go To Msg #
Search This Discussion

#343 of 472
Re: August 08 money factor and residual % on es 350 [gbh43] by Car_man HOST
Aug 20, 2008 (2:27 am)
Reply

Replying to: gbh43 (Aug 11, 2008 1:32 pm)

Hi gbh43. I believe that they are, but I have not seen an actual lease program from a dealer in your state.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
#344 of 472
Re: [fusilli] by Car_man HOST
Aug 20, 2008 (2:29 am)
Reply

Replying to: fusilli (Aug 15, 2008 2:41 pm)

Hi fusilli. Credit scores definitely do matter when leasing. Most of the lease money factors that you see mentioned in this discussion are for consumers who qualify for Lexus Financial Services' "Tier 1+" credit tier. In order to qualify for this tier, consumers must have a credit score of something like 730 or higher. LFS' money factors for other credit tiers are higher.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
#345 of 472
Re: [Car_man] by fusilli
Aug 20, 2008 (6:07 am)
Reply

Replying to: Car_man (Aug 20, 2008 2:29 am)

Thanks for the credit info. I knew they would be a factor, so I believe MY best bet would be to determine the pricing and then go from there. I have a quick verbal price of $33,500 (South Florida) and I believe the money factor and residual, from what I am reading, is set by the financial company, yes? I think with a score of 687, I should be in the ballpark and they'll hit me with a higher payment, but not that much higher that I can't live with it. Heck, being in the mortgage biz, and especially these days, not many have scores over 700.
#346 of 472
lexus.com ad for lease deal by spygame
Aug 20, 2008 (11:35 pm)
Reply
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.
#347 of 472
Re: [fusilli] by Car_man HOST
Aug 21, 2008 (1:40 am)
Reply

Replying to: fusilli (Aug 20, 2008 6:07 am)

You're very welcome, fusilli. Vehicles' residual values are set by banks and individual dealers do not have the authority to alter them. Money factors are slightly different though. Banks set vehicles' buy rate lease money factors. This is the lowest possible factor that dealers can charge. Dealers are often allowed to mark-up banks' buy rates to add additional hidden, back-end profit to deals. This is why it is a good idea to find out exactly what the buy rate should be for the vehicle that one is interested in prior to visiting dealers.
 
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
#348 of 472
Re: lexus.com ad for lease deal [spygame] by Car_man HOST
Aug 21, 2008 (1:44 am)
Reply

Replying to: spygame (Aug 20, 2008 11:35 pm)

Welcome spygame. Since you are new to the world of leasing, you definitely should 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.
 
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
#349 of 472
Re: lexus.com ad for lease deal [Car_man] by fusilli
Aug 21, 2008 (5:22 am)
Reply

Replying to: Car_man (Aug 21, 2008 1:44 am)

Yep, that's how they get you in the door. Throw a monthly payment out for Tier 1+ credit scores. The payment creeps up from there. As I said before, lessees with a 730 credit score are not a robust group these days, so expect to pay a bit more with the money factor being tweeked. You can get out the door with one, but it'll cost you. Unlike housing, it seems to still be fairly easy to lease a car with okay to good credit. I'm learning fast, Carman! In the past, I've paid cash for a lot of my cars, but this will be my fourth lease, and I am bound and determined to learn how the process works. This forum has been great.
#350 of 472
Basic lease question by toddandreg
Aug 23, 2008 (5:00 pm)
Reply
I've learned a lot from this forum and am ready to go negotiate a great lease. One question remains though....what is the "dealer holdback" amd "whsl financial reserve" that I have read about? And can I negotiate them away? Thanks.
#351 of 472
Re: Basic lease question [toddandreg] by fusilli
Aug 23, 2008 (8:38 pm)
Reply

Replying to: toddandreg (Aug 23, 2008 5:00 pm)

Well, I'd like to know about those items as well. I am leasing a car before the end of the month, yes, that would be in about seven days...so I'd better complete my education process, and quickly!
#352 of 472
My ES350 lease details by doctormark
Aug 24, 2008 (5:30 pm)
Reply
Thanks to everyone on the forum for the information that helps all of us negotiate a better deal. I picked up a new ES350 for my wife at the new Lexus of Mt Kisco, NY that just opened. The forum posts helped me save an extra $1500 with just a couple of phone calls. Information on deals that others have made is such a powerful negotiation tool. Thanks!
 
My deal terms:
 
2008 ES 350
Navigation
Premium Plus
HID headlamps
Intuitive parking assist
Wood & leather steering wheel
Rear side airbags
Full size spare
Preferred Accessory package (trunk mat, cargo net, wheel locks
MSRP including destination of 42,385
 
24 month, 15k/yr lease
vehicle cap cost 36,594 (I got 1000 extra off from Lexus for being a repeat customer)
residual 57% 24159
money factor .00065 (1.6% interest rate, wow!)
sales tax of 7.375% and 600 bank fee all rolled into the monthly payments
 
629.99 per month, includes tax and bank fee for 24 months
zero down
1st month payment and motor vehicle and document fees of 240 due at drive away, total $870 paid at dealership
no security deposit required
 
My wife loves the car, with all of the nice electronics and controls, and the smooth, luxurious ride. Good luck making a great deal.

Messages Page 36 of 48
1
...
33
34
35
36
37
38
39
...
48
Prev
Next
Last
Go To Msg #
Search This Discussion
To POST a message, please Sign In.

You are here: [F] Forums / Prices Paid: Buying & Leasing Experiences / Lexus ES 350 Lease Questions

New? Join Now!

Forum Tools

Please sign in.
Email Address:

Password:

Forgot Password?

Search Forums

Enter Keyword(s)

Advanced Search

Browse by Vehicle



View All Vehicles
Advertisement
Learn More

2010 Lexus ES 350

2010 Lexus ES 350 Sedan

More Pictures

DoMore

Ask the Community
See What People Are Asking

Browse by Board

Browse by Topic


View All Topics

Today's Chats

Advertisement