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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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#51 of 478
Re: Leasing Questions??? [robynl] by Car_man HOST
Jul 13, 2006 (4:09 am)
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Replying to: robynl (Jul 05, 2006 9:18 am)

Hi robynl. According to the latest information that I have seen, Lexus is not currently provising any sort of lease support on the 2007 ES 350. This would make sense, given how well it has been selling lately. If this is the case and you were to lease this car through Lexus Financial Services right now, you would have to use its standard lease money factor. This factor varies a little depending upon what part of the country one is in, but it should be around .00255 for consumers who qualify for LFS' top credit tier. As far as what fees you should pay go, at lease signing you will be asked to pay your car's first month's payment, LFS' $600 acquisition fee, and any required state taxes or fees. Most banks require consumers to pay a security deposit at lease signing as well, but Lexus Financial Services waives its security deposit requirement for all consumers who qualify for its top two credit tiers. Doc fees and acquisition fees are not the same thing. Acquisition fees are charged by banks that lease vehicles and individual dealers do not have the ability to waive them. Doc fees on the other hand are essentially a way for dealers to pad their profits.
 
I just double checked the payment that you calculated, and according to my calculations if you were to lease a 2007 Lexus ES 360 with an MSRP of $44,044 and a selling price of $43,044 through LFS right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $639.
 
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#52 of 478
Re: Leasing Questions??? [Car_man] by robynl
Jul 13, 2006 (10:18 am)
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Replying to: Car_man (Jul 13, 2006 4:09 am)

Thanks so much for the information. I calculated the same that you came up with but at 15,000 miles. Where did I go wrong? I based the calculations on a residual value of $26426. Is that too high?
 
Robyn
#53 of 478
Re: Leasing Questions??? [robynl] by Car_man HOST
Jul 14, 2006 (1:44 am)
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Replying to: robynl (Jul 13, 2006 10:18 am)

You're very welcome, Robyn. Vehicles' residual values are always based upon a percentage of their full MSRPs, including the destination charge. The residual value for this particular lease would be 58% of $44,044, or $25,546. This may be where you made your mistake.
 
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#54 of 478
Re: Leasing Questions??? [Car_man] by robynl
Jul 14, 2006 (2:11 pm)
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Replying to: Car_man (Jul 13, 2006 4:09 am)

CARMAN OR ANYONE WHO CAN HELP ME FIGURE THIS OUT.
 
Just received a fax of lease numbers from my lexus dealer. Here is the case:
MSRP $44084
Agreed price 43084
Term 36months, 15,000 miles
No money down other than first payment and doc fee of $499 and cash down of $236 (not sure where they got this)
These are the numbers they faxed to me:
Agreed value $43084
Gross capital cost $43719.18 (600 doc. fee+tax+other)
Cap cost reduction $ 236.38
Adj. Cap Cost $43482.80
Residual $25568.72 (58%)
Depreciation Charge $17914.08
Rent Charge $8054.16 (I assume this is MF payment)
Total of base MP $25968.24
Lease term 36
Base MP $ 721.34
Tax 43.28
Total 764.62
 
QUESTIONS?
1. What money factor are they using?
2. Seems to me that instead of them charging me the depreciation over 36 months they are dividing the Residual value over 36 months and charging me that way. That's incorrect according to what I've learned on this forum. Am I wrong?
3. What is the rent charge of $8054? Is this the money factor payment portion over 36 months? If so, way, way too high - $223/month. Forget it. I calculate about $176.
 
HELP! I am speaking to the sales manager tomorrow and want to know what I am talking about!!! Aren't they trying to trick me into paying the residual value over 36 months and then tacking on the money factor payment over 36 months which is way too high anyway!!
 
I would appreciate some feedback ASAP from anyone who can help me to know If I have this right?
#57 of 478
Documentation fee by robynl
Jul 14, 2006 (2:16 pm)
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Do I have to pay the doc. fee. Do most people pay it or should I refuse?
#59 of 478
Mistake?? by robynl
Jul 14, 2006 (2:24 pm)
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I think I goofed. I think they are charging some exorbetent amount for a money factor. They have added the Depreciation charge $17914 which is correct and then added the rent charge which is where they are screwing me by over $50/month if the money factor is supposed to be .00255. Can somebody figure what MF they are using????????????
#60 of 478
Re: Mistake?? [robynl] by kyfdx HOST
Jul 14, 2006 (4:57 pm)
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Replying to: robynl (Jul 14, 2006 2:24 pm)

Looks like they are using .00325...

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