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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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Prices Paid Forum
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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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- #12 of 173
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Re: Southern California Lease Question [socalcar1]
by Car_man HOST
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Mar 13, 2007 (3:45 am)
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Replying to: socalcar1 (Feb 11, 2007 10:19 pm)
You're welcome, socalcar1. Lexus Financial Services charges an acquisition fee of $600 on every vehicle that it leases. Individual dealers do not have the authority to waive this charge. Try stopping by the following discussion for feedback on how much you can expect to pay for this car right now: "Lexus LS 460: Prices Paid & Buying Experiences".
Car_man
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Prices Paid Forum
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- #13 of 173
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Re: Lexus LS 460: Lease Questions [pat]
by roman7
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Apr 22, 2007 (3:16 pm)
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Replying to: pat (Oct 30, 2006 8:24 am)
Hi CarMan!
What's a money factor and residual for Lexus LS 460L 2007 in April (12K a year for 36 month) for Tier 1 customers?
Thank you very much!
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- #14 of 173
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Re: Lexus LS 460: Lease Questions [roman7]
by Car_man HOST
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May 16, 2007 (1:36 am)
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Replying to: roman7 (Apr 22, 2007 3:16 pm)
Here you go, roman7. Lexus is not currently providing any lease support on the 2007 LS 460L. As a result, if you were to lease one through Lexus Financial Services right now, you would have to use its standard lease program. I believe that its buy rate standard lease money factor varies slightly by region, but it should be around .00275 for consumers who qualify for its "Tier 1+" credit tier and .00010 higher than that for "Tier 1." This car's current 36 month, 12,000 mile per year residual value is 53% without the Executive Package or Pre-Collision.
Car_man
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Prices Paid Forum
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- #15 of 173
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LS 460 lease questions
by hmt
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May 20, 2007 (6:27 am)
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Hello Carman, I am new to this forum and top leasing. I am interested in a LS460, but need about 20k miles per year. What are the keys figures I need to know when speaking to the dealer? I understand residual value, but what is the .00275 you mention in your answers? Thansk for any help
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- #16 of 173
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LS460 Lease Questions
by travelingtom90
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Jun 17, 2007 (6:14 am)
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My lease is ending for my LS430 and while reviewing my lease documents I noticed an expense on the lease for a rental payment of 8309.28. What is this fee? When I ran the numbers in the lease calculator I didn't see anyhting that spoke to a rental fee. I live in GA. (Gwinnett County)
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- #17 of 173
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Re: LS460 Lease Questions [travelingtom90]
by kyfdx HOST
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Jun 17, 2007 (6:23 am)
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Replying to: travelingtom90 (Jun 17, 2007 6:14 am)
The rental fee (or more commonly referred to as the rent charge) is the finance portion of the lease payment. Depreciation and finance, plus taxes, make up the lease payment.
It it had been a loan, that would have been the total interest paid.
regards,
kyfdx
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