calister27

Yo guys... What lease residual did all of you get quoted and for how many months? I got 61% on a 39 month lease on my BMW three years ago. I am now hearing about 53% on a 36 month lease on an IS350. Say it isn't so??

diablo1

It isn't so. At least when I got mine it wasn't. It was 60-64% depending on nav (-2%) and 12k vs 15k miles per year (another 2%). But maybe it's different now. Also I have heard of people getting less favorable terms in the Northwest than in the rest of the country. Don't know why.

Kermee

iTrader: (1)

diablo1 is pretty much on. Anywhere between 60-64% for most 36 month leases on IS 250/350's.

My IS 250 AWD 36/12K was 62%.
IS 250 RWD 36/15K was 60%.

I haven't heard anything lower than 60%.

Cheers,
Kermee

Payam

I looked into that too for a 350 with nav, 12k/36mo it was 62% back in December.

consult350

Most in here are quoting Lexus residuals not black book or banking numbers which are lower than Lexus fin.

SilverBolt

We are doing a 36mo/15k lease on a 350 and the residual is 62%.

JimRHIT

What is your payment going to be?

IXLRS

My NW dealer quoted 5.9% residual on a 350, what's that all about? He kept saying that lexus has such high resale value.

I'lm a rookie as far as how leases work, I assume it's better to have a higher residual on you lease contract, right? Why?

06LexIS350

In Boston, for an IS350 with Nav and Luxury Package....Silver with black interior...for a 24 month lease with 12K per year....The book quotes 69% residual.......At that rate I bought it vs. leasing...

Lexus are great...after a year and 1/2 you can turn them with the smallest hit.....

diablo1

I assume you are talking about interest rates, although leases are usually quoted in terms of money factor. Money factor = interest rate / 2400, so your money factor is .00246, which is the right range for this car. You need to ask about the residual, which should be a number around 60-64%.

With a 69% residual, you bought instead of leasing??? Wouldn't that lease have been really cheap?

IXLRS

Your right,

To clarify, I was quoted a 59% residual on a IS350 3 yr lease. I asked my sales rep and didn't make application yet. Maybe he was missinformed. For some reason the lexus dealer I'm working with said they can't quote there best case buy rate (or any buy rate for that matter)without me making application for a lease. Sounds kinda bogus to me, whatever. That's why I've got you guys

I want a least a range, from what I gather it's about 6+% APR.

OK, dumb question...

What advantage does the buyer have in gettting a higher residual value on there lease contract?

Do you get any money back when you return the car after a lease (assuming you meet all the conditions of the lease)?

thanks

calister27

Thanks guys. I was looking for the residual value, not the money factor. According to my calculations the residual has a much greater impact on payments than the money factor. At 60% for a 36 month lease, I am at lower payments than my current BMW 330ci.

Someone asked why residual is important... Selling Price - Residual value is the depreciation you have to pay during the term of the lease. The higher the residual, the lower your monthly payment.

Thanks!

DallasLex

iTrader: (1)

The biggest advantage of getting a higher residual value in a car lease is lower payments.
You can get a much nicer more dependable car for the same payment as an unreliable cheaper car with low residual.
Ex. IS350 - High Residual - Low payments.
Chevy Malibu - Low Residual - High payments.

BTW, you will not get a penny back from the dealer at then lease end regardless of what you did.
They'll charge you a disposal fee (apx. $400.) just to take the car back from you. No credit is given for lack of dings, scratches, and unused milage you paid so dearly for.

pearl85

with and without nav now the same!!!!

http://forums.roadfly.com/forums/fin...7397505-1.html