- #69 of 478
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Re: Please HELP - money factor question [cablondeblue]
by robynl
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Jul 19, 2006 (7:35 am)
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Replying to: cablondeblue (Jul 18, 2006 7:26 pm)
Cablondeblue, Thanks for responding. I should have mentioned in the post that my credit is in the 800 range which is Tier 1 credit and that is what I have been telling the dealerships. Lexington calculated lease on .00325, Louisville told me they didn't know where I was getting the .00255 money factor figure from and gave me about what Lexington did, Cincinnati quoted .00269 and Atlanta quoted .00296. What is going on here? These figures are all over the place.
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- #70 of 478
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Re: Please HELP - money factor question [robynl]
by cablondeblue
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Jul 19, 2006 (10:18 am)
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Replying to: robynl (Jul 19, 2006 7:35 am)
I did some research and found a post in the "Prices Paid & Buying Experience" forum from Car_Man Host on June 14, 2006, stating that the tier 1 credit money factor should be .00255. I know that I am tier 2  and mine is .0265. I don't know why the figures are all over the place. Lexington sounds like that are taking you to the cleaners. I am not sure if these Money Factors vary depending on what part of the country you are in.
I am trying to do a little more research for you and see what I can find.
(Sorry I didn't see your desperate post earlier. I was getting all involved in a discussion in the main ES forum. Since this Leasing Forum doesn't get much action, if you need a response immediately, try posting a quick question in the main forum. There are more people there.) 
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- #71 of 478
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Tier 1 questions
by Bushwack
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Jul 22, 2006 (9:26 pm)
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What minimum FICO score does Lexus consider to be Tier 1? 720…740…800?? Is the money factor based soley on the FICO score or do they also calculate what the debt ratio is (I assume that is what the FICO score is for)? Among the three credit bureaus, FICO scores can have as much as a 20 point spread. Does Lexus average the three or look at one particular bureau (which bureau?) to determine the money factor?
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- #72 of 478
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Great Lease
by bernster
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Jul 28, 2006 (2:49 pm)
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Just got a ES350 with premium plus package 36 month 12k miles nothing down lease for $525 per month at Lexus of Kendall in Miami. Car listed for 40,900. Prices are coming down.
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- #73 of 478
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Re: Leasing Questions??? [robynl]
by Car_man HOST
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Aug 01, 2006 (2:13 am)
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Replying to: robynl (Jul 14, 2006 2:11 pm)
Hi robynl. Lexus just published a new lease program on July 26th. Lexus Financial Services' new buy rate lease money factor for a 36 month lease of a 2007 ES 350 is .00265 for consumers who qualify for its Tier 1+ credit tier. Your vehicle's rent charge is the total amount of interest that you are paying on it over the length of your lease. Vehicles' residual values are always based upon a percentage of their full MSRPs, including destination charges and the MSRPs of any options that can be residualized. Using Lexus' new lease program, an MSRP of $44,084, and a selling price of $43,084, I estimate that this car's zero down, pre-tax 36 month, 15,000 mile per year monthly payment should be around $647. At lease signing you would have to pay your car's first month's payment, Lexus Financial Services' $600 acquisition fee, and any required state taxes or fees.
Car_man
Host
Prices Paid Forum
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- #74 of 478
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Re: Documentation fee [robynl]
by Car_man HOST
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Aug 01, 2006 (2:16 am)
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Replying to: robynl (Jul 14, 2006 2:16 pm)
Hi robynl. While there certainly are legitimate expenses for dealers that are associated with the sale of new vehicles, doc fees are really not much more than a way for dealers to add additional profit to deals. Vehicles' acquisition fees are different than doc fees though. All banks that lease vehicles to consumers charge acquisition fees. Lexus Financial Services charges a $600 acquisition fee on every vehicle that it leases. You can either pay this charge at lease signing or roll it into your car's capitalized cost.
Car_man
Host
Prices Paid Forum
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- #75 of 478
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Re: Please let me know your thoughts...... [cablondeblue]
by Car_man HOST
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Aug 01, 2006 (2:20 am)
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Replying to: cablondeblue (Jul 17, 2006 12:26 pm)
Hi cablondeblue. The selling price that you were quoted on this car looks very attractive. It is probably right around dealer invoice. Using Lexus' new lease program, I estimate that if you were to put $1,800 down on a 36 month lease of a 2007 Lexus ES 350 with an MSRP of $44,286 and a selling price of $40,163 with 15,000 miles per year, your pre-ax monthly payment would be around $522.
Car_man
Host
Prices Paid Forum
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- #76 of 478
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Re: Please HELP - money factor question [robynl]
by Car_man HOST
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Aug 01, 2006 (2:24 am)
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Replying to: robynl (Jul 18, 2006 11:20 am)
Hi robynl. If you qualify for Lexus Financial Services' Tier 1+ credit tier the dealer that you are working with is marking up your car's money factor. This sort of thing is completely legal and happens all the time, especially with luxury brand dealers. If you have a good credit score, make sure to insist that the dealer you are working with uses Lexus Financial Services' buy rate to calculate your car's monthly payment. Its current buy rate lease money factor for a 36 month lease of a 2007 ES 350 is .00265 for consumers who qualify for its top credit tier.
Car_man
Host
Prices Paid Forum
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- #77 of 478
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Re: Tier 1 questions [Bushwack]
by Car_man HOST
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Aug 01, 2006 (2:29 am)
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Replying to: Bushwack (Jul 22, 2006 9:26 pm)
Hi Bushwack. Lexus Financial Services best credit tier is called "Tier 1+." If I recall correctly, I believe that consumers need to have a credit score of 730+ to qualify for this tier. I am not sure which credit bureau LFS uses though.
Car_man
Host
Prices Paid Forum
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- #78 of 478
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Decent Deal?? Help, numbers are driving me nuts...!
by beachbum_ny
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Aug 01, 2006 (9:54 am)
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Here's the deal:
LEXUS ES 350 at NY dealer
32 months
10K miles
MSRP - $38,379
Neg Price - 36,700 ($1,700 off msrp)
money factor - .00275 (sales guy said it was best around for tier #1 which i am)
residual -69%
Total Cash down - $4,600 (includes, taxes, 1st mo, $2,750 cap cost red, etc).
monthly pmts - $425
..or no cap cost reduction down = $494/month (which seems better, but salesguy was even confused when he was running numbers).
seems like a good deal, but want to be sure before i sign. thanks!
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