Last post on Nov 15, 2013 at 1:42 PM
You are in the Prices Paid - Buying & Leasing Experiences
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Lexus ES 350, Car Leasing, Car Buying, Sedan
#76 of 871 Re: Please HELP - money factor question [robynl]
Aug 01, 2006 (2:24 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.
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#77 of 871 Re: Tier 1 questions [Bushwack]
Aug 01, 2006 (2:29 am)
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.
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#78 of 871 Decent Deal?? Help, numbers are driving me nuts...!
Aug 01, 2006 (9:54 am)
Here's the deal:
LEXUS ES 350 at NY dealer
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)
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!
Aug 03, 2006 (8:01 pm)
what is the best lease i can get for the 07 ES 350 with premium plus (w/NAV) with paying only the first months payment MSRP $41095. I live in NJ. Thanks
Aug 11, 2006 (4:26 am)
Car man I need help. I am looking at leasing a 2007 Lexus ES 350 in South Florida. The MSRP is $35,475. I have read posts from people stating the largest discount you can get is around $2000 to $2500. My credit score is above 740 with all 3 CRB's. The post on Aug. 1st by "beachbum" is for a 32 month lease $10K miles 69% residual.
#1 What type of discount can I get off the MSRP?
#2 What money factor should I be getting?
#3 What do you estimate my monthly payment?
thanks for your help.
I will post with details after I lease so that others can use as resource.
#81 of 871 Re: Great Lease [bernster]
Aug 11, 2006 (7:15 am)
bernster. I am looking at leasing an ES350 in South Florida. Could you tell me what money factor they used on your lease and and what is your loan residual value?
Appreciate your help.
#82 of 871 My lease offer--fair deal or not?
Aug 19, 2006 (7:13 am)
Hi--been lurking a bit here on the ES350 forum but am almost ready to pull the trigger on a lease...here are the numbers my local dealership gave me:
ES350 (UL, ML, intuitive parking assist, rear lip spoiler, pref. acc. pkg.):
Lease terms: 36 mos./12K miles (60% residual)
Purchase price: $39963
Cap cost reduction: $333.58
Monthly payment (incl. tax): $619.73
Drive-off: $2000 ($1046.69--which I assume includes acquisition fee, vehicle registration, and other required fees; $619.73 first month payment; and $333.58 CCR--yes I could just not pay the CCR but then my monthly payment will increse to $630.84), w/ no security deposit required.
Unfortunately, my FICO-II Auto score isn't all that hot but the finance guy was willing to grant me a Tier exception which bumped me up (down?) to Tier-2 money factor (0.00325).
Any thoughts on whether the above is a fair lease offer would be greatly appreciated!
#84 of 871 east coast offer
Aug 30, 2006 (3:22 pm)
Premium Plus & Navigation Package: $41,289.00
In addition to the features in the Premium Package: Rain-Sensing Wipers, Memory Passenger Seat, Driver Seat Cushion Extension, Rear-Side Air Bags, Full Size Spare, Park Assist, Voice-Activated Navigation System with Rear Back-up Camera.
Here's what I got quoted the local dealer. Keep in mind sales tax is about 7% here.
$492/month including sales tax
32 months 12,000miles/year,
upfront we pay
up front sales tax 1306
Bank fee 795
DMV plates 295
Bank tax 55
First month 492 total upfront $2941
The salesman said he couldn't get it this low through lfs and went through Hyundai's bank. Anything look fishy about this deal? I've been trying to work it out but without the residual for 32months/12Kyear i couldn't. Looks to me like a selling price around 38K and a money factor around 6%(.00245)??? Any input?
#85 of 871 Re: Decent Deal?? Help, numbers are driving me nuts...! [beachbum_ny]
Aug 31, 2006 (2:37 am)
Hey beachbum_ny. A base 2006 Lexus ES 330 has a spread of around $3,700 between its full MSRP and dealer invoice price. This means that the dealer is making at least $2,000 on the car that you are interested in. Lexus has lots of dealers in the New York area, you may want to try shopping around a little bit to see if you can beat this price. It wouldn't hurt. Make sure to stop by the following discussion to see how much other community members have paid for similar cars lately: "Lexus ES 300/ES 330: Prices Paid & Buying Experience".
You're in good shape with this car's money factor. Thee factor that you were quoted is right in line with Lexus Financial Services' current buy rate for a lease of this car by a Tier 1+ customer.
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