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Lexus ES 350, Car Leasing, Car Buying, Sedan
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.
Prices Paid Forum
#86 of 871 Re: Best Price [kstro135]
Aug 31, 2006 (2:47 am)
Hi kstro135. I would be happy to estimate what your lease payment should be like on the car that you are interested in. In order for me to do so I need you to provide me with its approximate selling price. the selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. You live in a great area to get a new Lexus because there is a ton of dealers in your neck of the woods. Negotiate as low a selling price as possible on the car that you want and let me know what you come up with. I can then estimate what your payment should be on it for you. You should be able to get a good idea of how much you will have to pay for this car right now by visiting the following discussion: "Lexus ES 300/ES 330: Prices Paid & Buying Experience".
Prices Paid Forum
#87 of 871 Re: How to negotiate [lookingates350]
Aug 31, 2006 (4:01 am)
Hi lookingates350. $2,000 to $2,500 would be a pretty good price on a 2007 ES 330 right now. For more information on how much you should pay for this car, stop by the "Prices Paid" discussion that I posted a link to in my previous two posts. I believe that Lexus Financial Services' current buy rate lease money factor for consumers who qualify for its Tier 1+ credit tier and lease an '07 ES 330 right now is .00265. I need to know your car's actual selling price to give you an accurate estimate of what its monthly payment should be, but for now I can work up a lease payment for you assuming a $2,000 discount. According to my calculations, if you were to lease a 2007 Lexus ES 330 with an MSRP of $35,475 and a selling price of $33,475 through Lexus Financial Services right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $484.
Prices Paid Forum
#88 of 871 Re: east coast offer [jwangsdc]
Aug 31, 2006 (1:55 pm)
"Up front sales tax"? I guess it must be something that's specific to your state; FWIW--and in all fairness, the following is technically apples and oranges but I thought I'd offer it so as to provide some ballpark numbers--my up-front down payment (not including cap-cost reduction) was $1700, which included Lexus' $600 acquisition fee, vehicle registration fee, and first month payment of %587.57...all this based on MSRP of $44288 and purchase price (again, before CCR) of $39963.
I'm guessing that the "bank fee" might be something similar to the Lexus acquisition fee since you're being financed through a different bank? The "bank tax" appears to be tax on the "bank fee"--amazing how companies find many different ways to assess a tax on just about everything...but in any case, I would venture to think that those numbers seem to be par for the course...except for the up front sales tax which to me doesn't make sense--but again, that might be something that's required in your state/county/city.
The dealer should be able tell you what the residual is for 32/12k, along w/ the MF being applied to your loan; no reason why he wouldn't do so unless he thinks you wouldn't know any better. Don't even consider analyzing that--or any--offer until you and the dealer first agree upon an acceptable selling price...then ask him to provide the residual and MF once he quotes you an offer based on those three factors (selling price, residual, MF). Once you have those figures, only then can you figure out if he's trying to pull the wool over your eyes.
#89 of 871 Re: Great Lease [lookingates350]
Sep 01, 2006 (1:34 am)
Hi lookingates350. I'm not bernster, but I can help you out. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 ES 330 with 12,000 miles per year are .00265 and 60% for consumers who qualify for its Tier 1+ credit tier.
Prices Paid Forum