Edmunds.com | Inside Line | Auto Observer Your Account | Help | Directory
You are here:
![[F]](http://a332.g.akamai.net/f/332/936/12h/www.edmunds.com/media/townhall/webxicons/site.gif){kind=small}
Forums
Prices Paid: Buying & Leasing Experiences Lexus LS 460 Prices Paid and Buying Experience
282 messages, Last post on Jul 21, 2008 at 8:32 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
|
Replying to: bermanslaw (May 09, 2008 9:00 am) I am in a similar boat. Our 05 CLK55 is going off lease on 7/3 and we test drove an LS460 and is pretty impressed about it.. based on last month money factor and residual in April, there is a shot of getting LS below 1000 month including sales tax for 3 yr 12K lease (in California, sales tax are paid monthly and calculated based on monthly payment) with Comfort and ML/NAV package. But you pretty much have to get the car very near invoice and pay 9 security deposit to reduce the money factor by 0.00072 (roughly 1.7%) from the 0.00225 (or roughly 5.4%) that LFS is charging. The wild card is whether the May progarm has any change (e.g. the residual value) and it is going to be pretty tough to get invoice in NYC since the competition in NYC is not nearly as good as California or FL... http://mbworld.org/forums/showthread.php?t=229109 2008 Lexus LS460 – 4/12/08 24 Month – Residual 56% of MSRP – .00225 Base Rate 36 Month – Residual 50% of MSRP – .00225 Base Rate 48 Month – Residual 40% of MSRP – .00225 Base Rate 60 Month – Residual 31% of MSRP – .00225 Base Rate Residuals posted are for 15K miles/year. Add 2% to Residual for 12k mi/yr and 3% for 10k mi/yr on all terms
|
|
|
|
|
Replying to: topgun7 (May 10, 2008 2:55 pm) Is there anyone else out there who has anything to say in reply to my original inquiry?
|
|
|
Replying to: bermanslaw (May 11, 2008 8:54 am) Lexus sales are off. My dealer (Texas) is loaded with cars and dealing. It is probably the same where you live. Lexus will do a 10,000 mile per year lease. If I were you, I would shop all the dealers within reasonable driving distance. I would start now, with plans to make my deal on May30 or 31. Base car min disc=6,000, Nav car min disc=7,000; Nav, ML,++ car min disc=8,000. Lease with Lexus Financial, 10,000 mile s/b able to do for under $1,000 per month if you pay the sales tax, etc up front. They may even have tax credits this month. |
|
|
Replying to: topgun7 (May 08, 2008 4:54 am) www.ucanimport.com |
|
|
|
|
Replying to: bermanslaw (May 09, 2008 9:00 am) If you decided to lease an LS460 priced between $68-$69k, you'd be able to get close to that $1000/mo payment you inquired about. Assuming an MSRP of $68,305 (common list price of LS's in your area), factoring in a "better than average" selling price/cap cost of $61,805 (about $2k over invoice/$6500 discount from MSRP)... *36/10k - ~ $935/mo + tax *48/10k - ~ $885/mo + tax * Sample payments based on current LFS lease rates and residual values. My recommendation for you would be to lease this vehicle. Why? You mentioned that you just came out of a long-term lease in a Mercedes and loved it. Lease the LS for a few years and see if you like it - if not, walk away at lease-end and go back to a Merc, or try another brand.
|
|
|
|
|
Replying to: ocautoseeker (May 12, 2008 12:22 am) I do have a lingering question, though, which I mentioned in my first inquiry: Is there anything to be gained (or lost) by waiting til summer, since I barely have need of a car til September? Between the price of a Manhattan garage, the cost of insurance and the monthly lease payment, I'd save > $2K/mo. in July & August if I just wait to take delivery of a replacement for my MB. It occurs to me that selection may become an issue the closer we get to the '09 rollout, but it seems like otherwise I might just be better off waiting. I'm ready to move quickly or wait, depending on what your take might be.
|
|
|
|
|
Replying to: bermanslaw (May 12, 2008 8:01 am) My opinion, since you're in a current lease, wait 'til about a month before that expires, then start looking for your new vehicle and revisit us here on the forums to discuss pricing and negotiation tips. A great deal can still be had now, but why pay those additional expenses you mentioned for the next 3-4 months, when just as good if not a better deal can be obtained in August or September.
|
|
|
|
|
Replying to: ocautoseeker (May 13, 2008 12:55 am) |
|
|
There certainly are a large number of dealers who have a fee which can run into several hundred dollars per car. $599 to $699 is not unusual. There is a dealer in Ft. Myers who doesn't charge any dealer fee. Great people to deal with and a good selection of cars. I just bought my third LS there. And from the same people. It is Scanlon Ft. Myers Lexus and they are a long time Elite dealer. Consider them if you want to buy a Lexus.
|
|
|
Replying to: jaibee (May 13, 2008 7:58 pm) It really depend. If you click on the link that give the money factor and residual for April number, there is a formular to calculate lease payment. There are 4 factors that affect the lease payment (1) cap cost (the price we negotiate to get the car) (2) residual (3) mony factor (4) acquisition fee + document fee etc. etc..(It is part of the negotiation other than the acquisition cost that Lexus charge which is not negotiable) Cap cost is more supply and demand dependent in a local area. Waiting may or may not help. One thing to note is that if you are already getting close to invoice, there is not much room for dealer to move unless they are desperate or there is some rebate from manufacturer (like month end or quarter end and they need to make some sales target). Residual actually move lower over the year. Each month LFS will lower the residual to account for the lower residual percentage (so at the beginning of the model year residual is at the highest and just right before rolling over to the next model year is the lowest. Sometime it can be 3-5% difference....) Money factor change every month depending on whether LFS wants to promote the car. Sometimes you will see LFS moving down both residual and money factor from one month to the other to compensate each other and make the monthly payment more or less the same.. There seems to be 3 different times slot in a years that is best for shopping lease. The first one is at the beginning of the model year when the residual is highest (providing that it is not a hot car..) and hopefully the money factor is reasonable. The second one is in December when Lexus want to move the car and run the December to remember promotion with low money factor and something artificially high residual (and dealer are more willing to deal since they have to close the book for the year as well). The third one is at the end of the model year, when they really need to move the old model year out before the new model year come. So the money factor and deal are the best... My plan is to wait and see what Lexus offer for 08 in July/Aug in term of lease deal. If nothing interesting that I will wait until 09 come.. Worse come to worse, December will be the month to pick up an LS.. P.S. The security deposit probably give you about 8%-9% annual return in the form of reduce monthly payment. Given that it is more or less guarantee (assuming that you trust youselve in making the paymenet), it is a pretty good deal |
|
You are here:
Forums
Prices Paid: Buying & Leasing Experiences Lexus LS 460 Prices Paid and Buying Experience
New? Join Now!
Forum Tools
Search Forums
Browse by Vehicle
2008 Lexus LS 460
Browse by Board
Browse by Topic
