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Lease Deals for 2013 ES

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Old 09-25-13, 06:57 AM   #1
Sun12345
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Default Lease Deals for 2013 ES

Hi - anyone have any feedback on their experiences leasing a 2013 ES (or choosing not to lease). Also, based on what they have done in the past, what should we expect to happen to the September lease special once October hits - i.e. do they tend to make better deals or just move on to leasing the 2014?

Thank you all!

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Old 09-25-13, 11:22 AM   #2
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I just picked up an ES 300h with almost everything on it and got a great deal from my local dealer. I leased for 36 months and 15K a year for $89 a month less than a comparably equipped Avalon Limited Hybrid.

Depending on any special bells and whistles you might want to act now. I wanted the adaptive cruise control, and there was only one car at my dealer and only one other 490 miles away.
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Old 09-25-13, 12:23 PM   #3
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Quote:
Originally Posted by jonmanch View Post
I just picked up an ES 300h with almost everything on it and got a great deal from my local dealer. I leased for 36 months and 15K a year for $89 a month less than a comparably equipped Avalon Limited Hybrid.

Depending on any special bells and whistles you might want to act now. I wanted the adaptive cruise control, and there was only one car at my dealer and only one other 490 miles away.
Sounds great! What's the monthly payment on this deal?
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Old 09-25-13, 01:02 PM   #4
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Car has Blind spot monitor, HID Headlights, Power Rear Sunshade, Luxury Package, Navigation, Intuitive parking assist, Lexus pre-collision Sys and Adaptive cruise control, rain sensing wipers with deicer, Heated steering wheel, accessory trunk pkg (trunk mat, net, and wheel locks). MSRP $48,227.
I leased with 15K/year with the sales tax included in the payment for $510/month, no money down other than first month and bank fees and tags.
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Old 09-26-13, 05:20 AM   #5
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Quote:
Originally Posted by jonmanch View Post
Car has Blind spot monitor, HID Headlights, Power Rear Sunshade, Luxury Package, Navigation, Intuitive parking assist, Lexus pre-collision Sys and Adaptive cruise control, rain sensing wipers with deicer, Heated steering wheel, accessory trunk pkg (trunk mat, net, and wheel locks). MSRP $48,227.
I leased with 15K/year with the sales tax included in the payment for $510/month, no money down other than first month and bank fees and tags.
Thank you for the details Jon - How much do they raise the payment for the extra miles? If I want to bump up from the too little 10k miles to 12 or 15k - how much does that impact monthly payment - approximations are fine...
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Old 09-26-13, 06:57 AM   #6
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You might want to learn about how lease payments are calculated before considering leasing a vehicle. Google ridewithg.com and read up. Monthly payments are not as important as residual value, sale price, and money factor. Those 3 variable will tell you how much you are paying in terms of depreciation and interest rate. You can also check the dealer's calculation if you know these 3, as I had a Lexus dealers make a "mistake" in their favor when I pointed out that their math was wrong. They first told me that my lease calculator was not accurate, until I was about to walk out. Then they found out their calculation mistake.
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Old 09-26-13, 10:10 AM   #7
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Opus is correct - dealers love it when someone comes in not knowing how leases are structured and how they are calculated. Make sure you educate yourself or run the deal by someone who knows how to calculate a lease - it could save you from a mistake that will cost you thousands. The first basic in obtaining a good lease is to negotiate the lowest possible vehicle selling price upon which the lease will be calculated. The residual value is set by the manufacturer and is based on the annual mileage and length of the lease. The third component used in calculation is the lease money factor and is determined by your credit worthiness (better credit score gets lower lease money factor). A quick Internet search will take you to a number of sites that show in detail how leases work. It is worth the time to review them.

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Old 09-26-13, 11:32 AM   #8
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I only looked into a 12K and 15K lease. The monthly lease payment difference was $25 ($485 vs $510). Mileage overages are charged at 25 cents per mile. The break even price point was about 13,300 miles per year. I drive about 14,200.

The Lexus money factor was very good at the time I purchased the car. I do not intend to purchase the car at the end of the lease term. It has been my experience that if you use the mileage you contract to use, the residual value seems to be the FMV of the car at that time. I have only purchased one leased vehicle and that was because I had paid for 48,750 miles, and at the end of the lease term, the car had about 29,000 miles. (My wife's car)

I got my ES 300h for $1,218 below invoice not MSRP. The dealer sells a lot of cars and gets further incentives/discounts from Lexus that offset the the below invoice price. The money factor was low, and the residual was higher than the Avalon Hybrid. I think the money factor was due to the 2014's coming out soon, and Lexus wants to move the 2013's. If you have your own business, you might want to speak with your accountant to see whether it is better to lease or purchase.

I went into the Lexus dealer thinking I was going to get a Toyota Avalon Hybrid Limited, but the Lexus deal was far better, and the car drove much better than the Avalon.

Good luck.
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Old 09-29-13, 08:49 PM   #9
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Leased a 2013 300h MSRP $51128 which is every option they offer..
36 months 12k miles a year Zero down for $518 a month.
Very happy with my deal..
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Old 10-03-13, 02:28 PM   #10
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I leased a 2013 ES350 with Luxury Package, Navigation, 18" wheels, HID headlights, Power sunshade, Intuitive Parking Assist, Blind Spot Monitoring, Rain Sensing Wipers, Wood & Leather Steering wheel and trunk mat/cargo net/wheel locks/rear bumper applique. MSRP (including destination fees): $44,398. My lease is 36 months for 12K miles per year. $0 driveoff and $459 per month for the remaining 35 months (includes taxes).

Just finished a 39 month lease on a 2010 Mercedes E350 that was $690 a month and only 7500 miles per year. Only had the Lexus for a week, but I absolutely love it. Very, very happy with my decision.
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Old 10-03-13, 03:01 PM   #11
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Welcome to Lexus and enjoy your car. It may not be in the same league as the Mercedes E350, but its just as nice and the price is nicer.
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Old 10-04-13, 12:06 AM   #12
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I leased a new 2013 ES350 last night. The MSRP is 42,870. I drove off with $0 down and monthly payment is 400.70. It was a 27 month lease with 12K miles per year. Money factor was .00060. Purchase price was 37,038. State & City tax of where I live are about 9.5%. I forgot the residual value but it is a constant and dealer doesn't have any say on that so you don't need to worry about that number. Just take whatever the dealer gives you. Oh btw, there was a 1800 lease rebate on 2013 which was used to get the above deal.
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Old 10-04-13, 07:56 AM   #13
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Quote:
Originally Posted by prithvisri View Post
I leased a new 2013 ES350 last night. The MSRP is 42,870. I drove off with $0 down and monthly payment is 400.70. It was a 27 month lease with 12K miles per year. Money factor was .00060. Purchase price was 37,038. State & City tax of where I live are about 9.5%. I forgot the residual value but it is a constant and dealer doesn't have any say on that so you don't need to worry about that number. Just take whatever the dealer gives you. Oh btw, there was a 1800 lease rebate on 2013 which was used to get the above deal.
Wow - congrats on the great deal! Enjoy the car!

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Old 10-04-13, 09:01 AM   #14
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Quote:
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I forgot the residual value but it is a constant and dealer doesn't have any say on that so you don't need to worry about that number. Just take whatever the dealer gives you.
This is actually not true. Dealers can REDUCE the residual and it adds profit back into the deal. You do need to know what the standard residual rate is from LFS or you may be overpaying.
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Old 10-04-13, 11:18 AM   #15
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Welcome to Lexus and enjoy your car. It may not be in the same league as the Mercedes E350, but its just as nice and the price is nicer.
Thanks. I agree with you. The ES350 is just as nice...and I LOVE saving the money every month!
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Old 10-04-13, 11:18 AM
 
 
 
 
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