Friends,

After a two-month search, I've finally leased an ES350 in November of 2016.

I'll keep it short: I was looking for a specific color combination, and wanted the car to have a decent amount of options.

I shopped three NY-area Lexus dealers, and a private "Leasing Broker", which is whom I decided to work with.

Overall, I'm not entirely sure how this deal would rate:

2016 Lexus ES350 (brand new, "left-over" model).

Tons of "optional features", please see attached image for the exact breakdown.

Now, on to the important part, the pricing for the lease:

MSRP $47,001 (on a 2016 model, not 2017)
36 month lease
15,000 miles per year (!)
$1,500 due at singing
$540 per month
Top tier credit score
"Agreed on sales price": approximately $38,000 (will update later with exact figure)
Residual at end of lease term: approximately $25,000 (will update later with exact figure)
Total spend over entire lease term: $20,400 (plus deposition fee)

So, what do you folks think?

Please share your thoughts, thanks!

 

jasone36 - request a detailed breakdown of the numbers - with that sale price, the payment should be much lower. They might be jacking up the money factor on you. With the same msrp, ours is 425 incl 8% sales tax for a 10k miles a year (1k due at signing). If I recall correctly, 15k residual is about 3% lower which would add about 35 bucks a month to the payment.

Edit - your payment is probably about right - apparently the current money factor on the 2016s is .0019, double what it was a few months ago. Great deal on the sale price though!

Congrats and enjoy the new wheels!

 

bgaerttner, thank you for the feedback.

I also couldn't believe how high the money factor was, but when I called to three NYC-area dealers they were all that high.

The crazy thing, is that when I started shopping two months ago, I was offered a $465-ish payment on the exact same deal (although not in the color combo I wanted), and I turned it down... just when interest rates were about to go up significantly.

Appreciate the response!

 

For that dime it would be better to finance and then sell/trade in. No mileage restriction. More flexibility.

 

Regarding financing and then intending on trading it in, I'm not entirely sure that would offer more flexibility, especially considering I have a 15K mile lease.

I'm wondering if anyone else can share their ES lease deals with the thread.

Thanks!