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Lexus ES 350, Car Leasing, Car Buying, Sedan
#404 of 871 2009 ES 350 Premium Package Plus
Dec 13, 2008 (9:54 am)
CarMan thank you for the reply. Today I went to the dealer and the offer on the table is $490 per month including tax,title and fees for a Black/Black Premium Package Plus. I would pay off the Volvo ( $2200 ) directly to Volvo financing and $300 out of pocket to Lexus which includes first month.
36 months lease / 12k miles
Residual .55 or .53 (I don't remember)
Money Factor .0009
Any thoughts on this?
#405 of 871 Re: 2009 ES 350 Premium Package Plus [Florida52]
Dec 13, 2008 (10:30 am)
whats the msrp and selling price of the vehicle? It sounds high....remember, there is $1000 in dealer cash available here.
#406 of 871 Re: 2009 ES 350 Premium Package Plus [travispete1]
Dec 13, 2008 (11:08 am)
I believe MSRP was $39,995 and selling price is around $34500... Please don't quote me on those prices as I can't find the paper I wrote on
#407 of 871 Re: 2009 ES 350 Premium Package Plus [Florida52]
Dec 14, 2008 (5:31 am)
Based on the #s you provided, that lease payment doesn't come close. Using a 53% residual 8% sales tax, I get 453 inc tax. and that is using a 53% residual.
There are simple lease calculators online. Of course, if you are rolling the premaining volvo payments into the lease, then the number makes sense.
#408 of 871 December to Remember "specials"?
Dec 14, 2008 (6:00 am)
I'm new to the leasing side of car deals, and was wondering how the current December to Remember lease specials stack up? The 2008 ES350 with Premium Plus package is advertised at $369/month with $3919 due at signing. Term is 36 months with 12K miles a year.
MSRP is listed as $37,950, and the purchase price at lease end is $18,596.
Is this a "deal" or not?
#409 of 871 Re: 2009 ES 350 Premium Package Plus [travispete1]
Dec 14, 2008 (4:01 pm)
Thank you for the input Travispete1. You are right the numbers aren't jiving. Can you provide me with the calculator you used please? After reading all these posts I negotiated with a different dealer online for a ES350 Premium Package with Navigation for a selling price of $37,000. Based on the formula provided above by sebast23 I had Calculated the following:
MSRP $42,795 x .53 (residual) = $22,681.35
$37,000 - $22,681.35 = $14,138.65
$14,318.65 / 36 = $397.74 payment w/o interest or tax
($37,000 + $22,681.35) x .0009 (money factor) = $53.71 interest
$397.74 + $53.71 x 7% tax = $483.05 total payment
However, when I went today to the dealer they had some totally different numbers. They had the same msrp, selling price, residual of .53 and money factor of .0009 as I did yet had my total payment at $527.16 !?!?!?!?!
The internet sales manager which I had negotiated with was off today so I didn't get a chance to speak with him, however, I don't understand why such the drastic difference.
They also had a Bank fee of ($700,) Doc Fee of ($699) Gov't Fee ($293.50) and Taxes of $1,2464.66 which they had calculated out of pocket I had to pay $826 to the dealer, which included first month, tax and title. The sales manager on the floor said his hard cost on the car was $38,060. I told them to fly a kite and I would go to another dealer. Are my calculations correct? or am I way off base?
PS. The amount owed on the Volvo was not used in any of my calculations since I found someone to take over that lease.
#410 of 871 Re: 2009 ES 350 Premium Package Plus [Florida52]
Dec 14, 2008 (5:31 pm)
The taxes on my above post are $1246.66. Sorry for the large number before.
Also, I believe the difference in the price is due to all the fees that they have my incurring. Bank Fee, Doc Fee, Gov't Fee, Taxes. Can anyone confirm?
#412 of 871 Re: lease values [michael123]
Dec 24, 2008 (3:09 am)
Hi michael123. The money factor that you mentioned looks a little high to me. According to the latest information that I have seen, Lexus Financial Services' December buy rate lease money factor and residual value for a 36 month lease of a 2008 ES 350 with 10,000 miles per year are .00035 and 50% for consumers who qualify for its Tier 1+ credit tier. The numbers for an otherwise identical 48 month lease are .00035 and 41%.
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#413 of 871 Re: Lexus ES 350 Lease question [bandj]
Dec 24, 2008 (3:10 am)
Hi bandj. According to the latest information that I have seen, Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2009 ES 350 with 15,000 miles per year are .00090 and 51%, respectively for consumers who qualify for its Tier 1+ credit tier.
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