ICYBLUE12

07 GS350 with Nav
$750 a month including tax (CA).
Car was at invoice for low $43XXX
$1300 for drive off fees
48 months at 10K miles
Residual was at 42% I believe (47% for 36 months if I remeber correctly)
Money factor approx .00295 (Just graduated with no prior car purchase on my credit)

Is this a good deal? Should I try to negotiate more? I also want to make sure they take my car 6 months prior to my lease end to get into another Lexus.

I know the GS is bad to lease but I was expecting something better? Any help would be great, esp. with residuals numbers for this month. I am in Southern California. If anyone can suggest some dealerships where they leased their GS under invoice would be awesome. I am looking to purchase today after the Infiniti dealership went ballistic because I needed to make up my mind on the G37 and didnt purchase that night just because it was his day off.

rominl

iTrader: (4)

cap cost is 43xxx? no that's not a good deal

and why 1300 drive off? there are down payment? that's a no no in a lease imho

encore program is from LFS and nothing much dealership can do. usually towards the end of the lease you will get the letter from LFS to return your car sooner (within 6 months)

ICYBLUE12

1300 was for the first month plus fees, not going into cap. Car was at invoice. Can I do better? I would get it if they can match or get close to my G37 quote of 665 a month with 1000 for 1st month and fees, but with Infiniti its only a 3 year lease.

lexuslover

the residual seems about right, but 10k miles per year is very low, so you better make sure you don't plan on driving more than that or else you will pay a big price for it later.

usually this late in the model year you are looking at lower-than-normal residuals BUT also, favorable money factors (so they can unload the remaining 07's). .00295 is not a great MF by any means, but that may be due to your credit score and/or lack of credit history.

there are a lot of variables here, so i would shop around. sometimes lexus financial doesn't have the best rates. i tend to think that it is impossible to drive less than 10k miles per year in So Cal unless you have more than 1 car. my husband's commute is only 7 mi each way but the annual mileage is 12k and we don't even take road trips in the GS. it adds up quick, so make sure you are realistic in your annual mileage...

good luck in your search!

KA8

iTrader: (1)

Damn 750/mon is alot. you must be making alot of $$.

Modeler

Was the dealer joking? I'm paying $800 a month for 36 months lease with 12K miles a year on a GS450h! Paying $750 a month for 48 months lease on a GS350 is insane!

cliffud

iTrader: (3)

um. bad deal. lease = boooooooo...

ICYBLUE12

No the dealer wasn't joking, I went in for the Costco program which is 2500 over invoice. At first I thought they were selling me an 08 but nope. By the way, those were the final numbers they gave me after we went back and forth like 4 times. At first they said 4000 down for 700 plus tax for 48 months.

rominl

iTrader: (4)

then it's time you laugh at them and walk out

bigmemory

Leases are great for people who get bored with cars easy ...
Get a 2 year lease, turn it in for a brand new car....

The best part is, you only pay taxes on a very small percentage of the vehicle.

KA8

iTrader: (1)

Lease is great for business owners. Other than that it sux. You're limited to 12K miles/yr of course you can drive more at some rate. Plus at lease return you're liable for any defects. On top of that after 2-3 yrs you'll have no car. Should you decide to get another car you have another long payment but hey it's your money do what you want

lexuslover

i have to agree. plus i'm self employed so i write off every penny i spend on the car. we lease the GS and the Audi. i never lease for more than 36 mo and i never get less than 15k annual miles. the Audi is 24 mo and its great to know that i will have something new again so soon. it's defin fun

buying cars and selling them after 2-3 years is not always the best decision if you like to get something diff after such a short amt of time. in Calif you don't get a sales tax deduction so if you are talking about $50k+ luxury cars, you are wasting a few thousand in sales tax by doing this. plus a lot of automakers have awesome lease programs so in the end you spend less in interest by leasing.

just my 2c.

ICYBLUE12

I lease because its cheaper and I tend to want a new car every 3 years.


If I purchased in 4 years I would be paying over 1000 a month so I don't know how that can be compared.

Does anyone have an invoice price list for the 07s?

I emailed dealers through edmunds.com and asked for 2K below invoice and 3 dealers got back to me so far. Should I be leasing for 3 or 4 years? What monthly payment should I be looking at with no money down and just paying my 1st month and drive off fees?

lexuslover

if you purchase you can finance over 60 or 72 months usually, not 48. plus you will be building equity in the car after a certain point in making your payments.

you really need to have an idea on how you will use the car and when you realistically think you will want a new one to really hash out the numbers. without doing this, you don't really know what is "cheaper". plus you need to get an idea of the APR on a purchase finance. sometimes lease deals are more attractive, sometimes not.

sorry for the geeky comment, but honestly as a CPA and a person in finance, i tend to look at the whole picture and try to get them on an apples to apples comparison.

invoice prices for the base model and all the options are available on edmunds, so you can go there and click on all the things the car has and see how the invoice compares. the more stuff it has, the higher the disparity between msrp and invoice.

sf7307

After 48 months, the amount I will have paid for my purchased (not leased) 2007GS350 (picked up last weekend) will be just slightly less than what you will have paid during the same period for your leased car, and I won't have the 10,000 mile restriction. We got a 6-year loan, which we intend to pay off in 36 or 48 months.