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Lexus LS 460 Lease Questions

115 messages,  Last post on Aug 04, 2008 at 3:48 AM

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What is this discussion about? Lexus LS 460, Car Leasing, Sedan

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#82 of 115 Re: Multiple Security Deposits [rorser] by gryan Mar 13, 2008 (9:21 am)
Replying to: rorser (Mar 13, 2008 9:11 am) I am told it is the equivelent of your monthly payment rounded up to nearest $25 of course by doing it your payment will go done from 1400 because the money factor will now be lower, hope this helps. one other thing is NY does not allow this. Good luck
#83 of 115 Re: Should I take this? [Car_man] by rorser Mar 13, 2008 (9:33 am)
Replying to: Car_man (Mar 06, 2008 4:33 am) I am being told by my N. Calif Lexus dealers that for each SD I make, up to 9, that the MF will be reduced by .008 for a total of .072 reduction. I believe you quoted a different figure. Also, I am being told that a SD = one month's payment, which seems odd to me. If my payment for a LS460-L is $1,300, that's a 12 grand deposit. Can you clarify Car_man? Richard Replies to this message: rorser (Mar 13, 2008 9:36 am) ocautoseeker (Mar 13, 2008 6:45 pm) rorser (Mar 13, 2008 9:01 pm) Car_man (Apr 23, 2008 2:42 am)
#84 of 115 Re: Should I take this? [rorser] by rorser Mar 13, 2008 (9:36 am)
Replying to: rorser (Mar 13, 2008 9:33 am) Thanks. That seems to be what most dealers are telling me, but there is one who absolutely insists that each SD = $500. I'll call him again. Thank you.
#85 of 115 Re: Should I take this? [rorser] by ocautoseeker Mar 13, 2008 (6:45 pm)
Replying to: rorser (Mar 13, 2008 9:33 am) We've seen this number vary, but the discount should be anywhere from .00007 - .0001 for each additional SD.   MSD's are made up-front. Replies to this message: rorser (Mar 13, 2008 9:01 pm) Car_man (Apr 23, 2008 2:42 am)
#86 of 115 Re: Should I take this? [ocautoseeker] by rorser Mar 13, 2008 (9:01 pm)
Replying to: ocautoseeker (Mar 13, 2008 6:45 pm) What constitutes a Security Deposit? I have been told everything from $500 to the lease payment amount rounded to nearest $50. This is a huge range. I have heard that each SD reduces the MF by .00008 and that you can pay 8 or 9 of them. But, what constitutes a SD? I am being offered a MF of .000310 on a 48 mo. lease with a Cap Cost of $77,330 which includes the $600 Acquisition Fee. Any way I might get my payment down beside the $1,400 SDs? Thanks, R Replies to this message: Car_man (Apr 23, 2008 2:42 am)
#87 of 115 Lexus 460 out of state lease by jim9921 Mar 28, 2008 (12:18 pm)
I'm looking to lease an 08 LS460 on for 36 mo/15K miles. I live in Portland, Or where there is only one Lexus dealer so there is no competition and I'm only getting about 5% off MSRP, which seems low, and they are quoting a money rate of .00329, which sounds pretty high. I've read on leasecompare.com that LSF rates have dropped to .00225 with 51% residual. CA dealer are pretty quick to discount 8-11% off MSRP and I assume lease rates would be better. Couple of questions: 1. Is there any reason an out of state buyer could not lease a car from a CA dealer; 2. My understanding is that I would pay CA sales tax only on the portion of the cap cost, and not the full MSRP. 3. I have a 04 430 to trade in which is valued in OR at 25K. Would I be better off using that as a cap reduction or buying down the rate with SD's, or some combination of both. I would like to get my monthly payment as low as possible. Replies to this message: kyfdx (Mar 29, 2008 4:06 am)
#88 of 115 Re: Lexus 460 out of state lease [jim9921] by kyfdx HOST Mar 29, 2008 (4:06 am)
Replying to: jim9921 (Mar 28, 2008 12:18 pm) If you lease from a dealer in California, but with an Oregon address, you shouldn't have to pay any sales tax, provided you roll all of your upfront costs into the lease.   California taxes the monthly payment, on a monthly basis. If your car is registered in Oregon, and that is where you receive your monthly lease bill, there should be no tax due.   You might have to pay California tax on the first payment, if you make that at delivery.... and, on anything you pay upfront (acquisition fee, etc.). So.. don't pay anything upfront!   regards, kyfdx
#89 of 115 Out of state leasing of Lexus in Calif. by jim9921 Mar 29, 2008 (11:35 pm)
I'm a Oregon resident and have been looking to lease an 08 LS460 from a CA dealer. Both the cap cost and money factors are better than I can find in Oregon, but so far I've had two SoCal dealer tell me they don't lease out of state. I've been pre approved by LFS with a FICO of 792, so it's not my credit in question. I know NV dealer will lease out of state, but prices don't seem as good as SoCal. If any non CA residents have leased a Lexus in CA, would you let me know what dealer you worked with and your experience.
#90 of 115 Lesuc dealer will not allow Security Deposits by jim9921 Apr 01, 2008 (10:13 am)
I've read some of the recommendations here about buying down the lease rate by making multiple security deposits, but when brought this up with my dealer in OR, they said they don't participate in the buy down program. Have others had the same experience? After a lease is signed is it LFS that holds the lease or the dealer? One final question: does the rate for excess mileage vary from dealer to dealer or is that set by LFS. Replies to this message: topgun7 (Apr 03, 2008 10:30 pm)
#91 of 115 Re: Lesuc dealer will not allow Security Deposits [jim9921] by topgun7 Apr 03, 2008 (10:30 pm)
Replying to: jim9921 (Apr 01, 2008 10:13 am) "I've read some of the recommendations here about buying down the lease rate by making multiple security deposits, but when brought this up with my dealer in OR, they said they don't participate in the buy down program."   The security deposit thing is coming from Lexus financial and it has nothing to do with the dealership. They are still selling the same car. In the case of leasing, they sell the car to Lexus financial and you make payments to Lexus financial. I think they either use a different lender (e.g. a bank that give them more mark up) or they simply didn't know that they can do that. I leased an 02 LS430 and 02 SC430 using LFS and 9 security deposit to reduce money factor (at the time, each deposit bring down the money factor by 0.0001). The security deposit is based on your lease payment calculation without the deposit and round up to the next $25 (so some of the 1300 number is probably accurate. But it is awefully high for 70K version of LS.. yours must be 90K+ version.). It is a very good program, with the 0.0001 reduction, I calculated that my deposit in 02 make 11-12% guarantee (assuming that I pay my bill on time 8-))) by reducing the monthly payment. The deposit is refunded at the end of the lease (I got both back without any hassle). If an accident happen and with the gap insurance Lexus provided to all lease, I can just turn the insurance check to LFS and get all my deposit back (not an actual experience but we call Lexus to confirmt his point).

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