- #2 of 173
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November Lease Program?
by mbonus
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Nov 16, 2006 (6:09 am)
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If you can even get your hands on one...
What is the lease program for November? What are the numbers for 24mth 15K/Yr and 36mth 15K/yr with tier 1 credit.
Thanks.
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- #4 of 173
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Re: November Lease Program? [mbonus]
by Car_man HOST
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Dec 11, 2006 (2:43 am)
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Replying to: mbonus (Nov 16, 2006 6:09 am)
Lexus' December to Remember" sales event started on November 14th. Through this program, its buy rate lease money factor for the 2007 LS 460 is .00265 for consumers who qualify for its Tier 1+ credit tier. Make sure that this is the factor that is used to calculate your car's monthly payment.
Car_man
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- #5 of 173
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Re: November Lease Program? [Car_man]
by mbonus
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Dec 12, 2006 (6:46 am)
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Replying to: Car_man (Dec 11, 2006 2:43 am)
Thanks Car_Man,
Do you know what the residuals should be for 15K mile 36mth and 48mth leases respectively? Would the residual get a 1% bump for 12K miles?
Thanks,
Mike
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- #6 of 173
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Re: November Lease Program? [mbonus]
by Car_man HOST
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Jan 17, 2007 (4:43 am)
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Replying to: mbonus (Dec 12, 2006 6:46 am)
No problem, Mike. Unfortunately, Lexus is not currently providing lease support on the 2007 LS 460. As a result, if you were to lease one through Lexus Financial Services right now, you would have to use its standard lease program. LFS' buy rate standard lease money factor varies slightly by region, but it is currently around .00275 for consumers who qualify for its top credit tier. LFS' current 36 month, 15,000 mile per year residual value for a base 2007 LS 460 is 56%. The residual for an otherwise identical 48 month lease is 46%. The residual values for leases with only 12,000 miles per year would be 2% higher.
Car_man
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- #7 of 173
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Southern California Lease Question
by socalcar1
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Feb 09, 2007 (10:32 pm)
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I went to a dealer today that quoted me 55% residual on a 36 month lease, and 45% on a 48 month lease. the money factor quoted was .00345. These numbers are different from those car_man mentioned in January 17 post. Is this dealer lying to me? Also, I have read on these forums that often lease companies can give better residuals and financing than the dealer. Where would I find a reputable lease company and is the dealer required to let me use outside financing? Thanks for any insight.
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- #8 of 173
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Re: Southern California Lease Question [socalcar1]
by Car_man HOST
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Feb 11, 2007 (9:15 am)
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Replying to: socalcar1 (Feb 09, 2007 10:32 pm)
Hello socalcar1. The money factor that you were quoted is too high. Lexus' standard lease money factor varies by region, but is is currently around .00275 or so for consumers who qualify for its "Tier 1+" credit tier. Chances are that the dealer you are working with is trying to mark your car's money factor up to add additional back-end profit to your deal. There should be tons of Lexus dealers in the Southern California area. It would be in your best interest to comparison shop with a few dealers to see what sort of money factor others quote you. You can arrange outside financing for your Lexus on your own, but I haven't heard about any consumers who were able to find an independent bank that had better deals than Lexus Financial Services recently.
Car_man
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- #9 of 173
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Re: Southern California Lease Question [Car_man]
by socalcar1
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Feb 11, 2007 (10:19 pm)
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Replying to: Car_man (Feb 11, 2007 9:15 am)
Car_Man:
Thanks for the quick response. I really appreciate it as I am close to purchasing this car. Today I went to another dealer who quoted me .00295 but I'll keep looking until I find the .00275. Two follow up quick questions. Today's dealer offered me 1000 below msrp, while the previous deal was at msrp. But they also included a $600 Bank Fee in the cap cost. Is it necessary to pay Lexus Financial this bank fee, and is $1000 off MSRP really the best I'm going to do on an LS460? Thanks!
socalcar1
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- #10 of 173
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Re: Southern California Lease Question [socalcar1]
by carman77471
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Feb 12, 2007 (9:59 pm)
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Replying to: socalcar1 (Feb 11, 2007 10:19 pm)
Try Interstate Auto Leasing out of Houston, they are nationwide.
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- #11 of 173
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Re: Southern California Lease Question [carman77471]
by socalcar1
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Feb 15, 2007 (11:45 pm)
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Replying to: carman77471 (Feb 12, 2007 9:59 pm)
Carman 77471 your advice was great. I called Interstate and they were able to find a dealer in Southern CA that gave me the best deal I could find. I even spoke to another broker well plugged in to Lexus dealers that said he couldn't get the same price from that same CA dealer. Interstate is less than one year old but the owners of the business take the calls and they're basically middlemen. You still do the ultimate deal with the dealership so there is no risk. Thanks for the recommendation.
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