Sam Khoury

I just got a call from the customer retention department at my dealer and he told me that the money factor is not going down for the IS350 in the December to Remember sales event. It's going to stay at 0.00255 (which is what they told me it was in November) and for previous lessees it reduced by 10 points to 0.00245. Residuals on an IS350 with Navigation also stay the same at 62% for a 36 month 12K miles/year lease and 59% for a 39 month 12K miles/year lease. The payments on both the 36 and 39 month leases come out to be more or less the same. It's not looking like I'm going to lease another Lexus right now. I really hope my dealer is wrong.

gsko

Does that mean the money factor will not go down for the 250 AWD also?

Maximus350

Sam,
When I almost leased my car (changed my mind at last minute) the MF was .00235. Make sure they are not marking up the MF. A lot of dealers do that.

tqlla3k

iTrader: (1)

Hmm, not sure about the MF, but at Lindsay Lexus. They were giving me 3.4% (not sure how that translates) and .64 residual.

Though, it was still pretty expensive IMO

total
35944 + no dealer proc + 80 tags and reg + 1150 tax.
the deal they gave me was $522 for 36 month, after 3200 down. 23644 Buy out. But I did a straight purchase in lieu of the lease

Sam Khoury

I'm not sure what the money factor is for the IS250 AWD.

As far as the money factor, I've had 2 different dealers in this area tell me that is was 0.00255 and 0.00245 for encore customers (i.e. customers who are currently leasing with LFS). I'm wondering if it varies by geographic region.

Regardless, this car is turning out to be pretty expensive to lease especially when you compare it to some others.

DallasLex

iTrader: (1)

Were you planning on trading in your current GS?

AsianGirl007

iTrader: (1)

I'm with Maximus on this one, double check the rate. It might be lower. Just because there is a lower rate doesn't mean they have to give it away. Dealerships are, after all, a business that needs to make money.

Sam Khoury

I asked the dealer about trading it in and even though it's a loaded SportDesign with only 23K miles, they told me that I don't have any equity in it. It's coming off a 39 month 12K miles/year lease so I'm about 16K miles under my lease allowance and even with that, they told me that my trade value would be about $23K or $24K. My purchase price is about $25K so I have no equity in it

Sam Khoury

Does everybody think the lower rate is with LFS or with a bank?

Maximus350

When I purchased my car, I saw the rate sheet. It was definitely .00235. This was through LFS/TMC.

Sam Khoury

I wonder why these 2 dealers in NJ both told me .00255. This is exactly why I can't stand dealing with most car salesman and dealerships, no offense Elizabeth. If it's 0.00235 and I get a 10 point discount for being a previous Lexus lessee, then it brings it down to 0.00225. That's still not great but a little better.

tqlla3k

iTrader: (1)

Hmm not sure about your bank, but LFS = 6.4% financing.

Pentagon federal = 4.99% until Nov30

To join pentagon federal, you have to have a family member in the military, or donate $20 to one of their related organizations.

AsianGirl007

iTrader: (1)

LOL, don't worry I don't work for "the man" anymore so bash away!
The rate could have changed in the past few days via fax "hot off the press" to dealers. It also could be possible it didn't change, but it's always a good idea to double check. Usually LFS is the best, even if you get a slightly lower rate from another lender, say Wells Fargo, you have to consider the termination charge at the end. Every bank has termination fee except for LFS. So then it usually works out to be about the same money so I'd stick with LFS. They are the best bank to work with at lease term. Have you considered a Multiple Deposit Lease at all?

Sam Khoury

I will only lease using LFS because they are much more lenient with the condition of the car at the end of the lease, they wave the security deposit and they don't have a termination charge/disposition fee at the end of the lease.

I considered a multiple deposit lease but my reason for leasing is to have the least amount out of pocket. I don't want to lock up a lot of cash in deposits.

I'm this close to leasing either an M35 Sport or an M45 Sport. The Infiniti Financial Services money factors and residuals blow away what LFS is offering on both the IS and GS. The money factor and residual percentage on a 39 month 12K mile/year lease on a M35 Sport are 0.00179 and 58% and on a M45 Sport they are 0.00177 and 59%. Obviously the Infiniti M competes with the GS, not the IS. Many Infiniti dealers are also willing to sell the Infiniti M for well under sticker. I think that's because the dealer holdback is based on the base MSRP not the total MSRP so they'll get the same holdback money regardless of the cost of the options in the car. I was an offered an almost loaded M45 Sport for $695/month on a 39 month 12K miles/year no money down lease. Just fees and first payment. The purchase price was either $300 over invoice (what I calculated based on the leasing terms) or $500 over invoice (the purchase price given to me by the dealer). That's the price some people are paying to lease an almost loaded IS350 (basically all options except ML and PCS).