moolman

Hi folks,
Would anybody here be able to point me to what the latest Tier 1+ lease rates are for the LX570? I usually get it from the edmunds forums but that section is closed for the LX570.

I'm about to purchase the 2013 LX570 and deciding if I want to lease or buy. Most likely, I'm thinking the car will get redesigned in 2015 or so and I would probably get that one. So leasing will make more sense since I would save on the sales tax. I know the residual will be horrible but I can just sell the car to CarMax or get a better deal when I trade it in.

Thanks

yipster222

I would just purchase the car and drive it for 5 years then sell it. The LX 570 is a very hard suv to find these days and the resale value is always high. There are so much demand for this suv in other countries where they are willing to pay a high amount for.

Also first year cars always have issues and bugs. It is better to wait till the mid year cycle before purchasing.

LXurious

What he said I did the exact same with my 06 LX 470 and got a fairly good price at trade in even with 4 months still left to finish it off.

Toys4RJill

I would buy it and just keep it for a while, the model before the LX570 was around for 10 model years before the LX570, so you really don't know when they will update it. And with the current trend for Toyota/Lexus, the 5.7 likely will not change anytime soon.

I really like the subtle changes to the 13 LX and the front spindle might be the best application of the front so far.

Aristanet

Money factor .00165

moolman

Thanks for the advice, everyone.. Well, for me, I still think I would come out ahead if I leased. If the money factor that Aristanet is right that's a equivalent APR of 3.96%. I plan on doing the Multiple Security Deposits, so that means my effecitve APR for the lease would be 2.016% after the discount. The best rate I can get for a car loan is from Penfed at 1.99%, so it's pretty close. True I have to pay the $700 acquisiton fee for the lease but I save $ almost $7000 in tax by leasing. Especially if I know I don't want to keep the car for more than 3 years. Worst case, I can just buy the car outright when the lease ends, anybody see a downside to leasing instead. If the car value of the LX holds up, it should obviously be worth more at 3 years than what the lease residual is, so at that point, I would negotiate with the dealer for a higher price, go to Carmax, or sell it myself.

Best price so far that I found was $2000 over invoice with no negotiating. What are people's thoughts, I'm thinking $1000 over invoice should be my goal.

DarkStar12

moolman, 2000 over invoice sounds great. Last good deal I heard of was 4500 off MSRP. Are you in N. Cal or S. Cal?

moolman

This is in SoCal, there is some demand for the car but let's face it the economy still sucks. I'm getting told that the lease rate is 0.0019 with a residual of 54% for 3 years, 12k. Different than what was mentioned before, anybody else know the tier 1+ rate?