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Prices Paid: Buying & Leasing Experiences Lexus LS 460 Lease Questions
173 messages, Last post on Nov 02, 2009 at 5:21 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: tonym2 (May 04, 2008 1:05 pm) 36 – Residual 50% – .00225 48 – Residual 40% – .00225 Residual values assume 15k annual miles.
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Replying to: ocautoseeker (May 04, 2008 2:03 pm) I am thinking of pre-paying for more miles (18K/year, rather than the standard 15K/year). 2 related questions: (1) Is the extra amount charged (for the 3K miles/year) added to the Capitalized Cost, or deducted from the Residual Value? (2) What is the cost (cents/mile) for pre-bought miles? Again, thanks in advance.
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Replying to: tonym2 (May 04, 2008 4:51 pm) It depends on how they want to structure the lease - but typically, the residual value will be readjusted for the additional cost of miles so that the vehicle will reflect a more accurate "market" value at lease-end. Assuming 18k, the residual on a 36 month term should drop to 48% (from 50% based on 15k).
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Replying to: ocautoseeker (May 05, 2008 11:39 pm) They don't have lower residual percentages for mileage allowances higher than 15K/yr.. But, if you wanted 18K, and the charge is $0.15/mi., then they would deduct $0.15/mi. from the residual. $0.15 X 9000 mi. = $1350.. So if the residual for 3yr/45K were 50% of $70K, then the new residual for 3yr/54K would be $35K - $1350 = $33,650. I think this is the way most captive financial companies do it. I only know BMW and Honda, for sure. regards, kyfdx
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Replying to: kyfdx (May 06, 2008 3:37 am)  Thanks for your added support. |
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Replying to: wkalexand (Feb 25, 2008 6:08 pm) I am in the market for LS460 in NJ. Your deal looks pretty good. What dealership was that? Thanks.
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Replying to: leo7 (May 07, 2008 5:01 pm)
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| Just leased a new LS460 w/comfort, nav+ml, int park etc. = 72K msrp for 63,980 in So Cal. pre-paid miles are now 0.20/mi (up from 0.15/mi), it appears, due to a new policy from LFS in April. | |
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My 2006 LS430 lease expires in Dec 08. I received a message from my dealer asking me to call about a lease forgiveness program. Any advice? Should I wait un til a couple of months before my lease expires or start talking with my dealership now. I leased the vehicle from one of the largest Lexus dealerships in the country. Nothing down, No SD and I pay 837 per month which was about $100/month less than another dealer. The LS 430 has navigation, smart access system, and comes with 15,000 miles/year with a 12 cent per mile excess mileage fee (which I will not exceed). It listed for around $64000 and was discounted to >$57,000 with a cap cost of around $37,000 |
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"Should I wait until a couple of months before my lease expires or start talking with my dealership now" If you want a new car now (and probably pay a little bit higher monthly price, then it is a worthwhile thing to explore). I leased an 02 LS430 and 02 SC430 before and now our lease for an 05 Mercede CLK55 will expire at end of June. Mercede also offers a pull ahead program when they will pull ahead 5 lease payments. I would imagine the Lexus program is similar. The thing to concern about is the lease payment for the new LS460.. Depending on the equipment level and dealer discount, you may be looking at a monthly payment higher than your current one. We end up didn't take advantage of the Mercedes pull ahead program, but we did talk to our salesman about some of the cars that we are interested in... |
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