2017 GS350 base model Lease
Thread Starter
Driver School Candidate
Joined: Dec 2017
Posts: 1
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From: NY - New York
2017 GS350 base model Lease
Here in NY , 2017 GS350 Base model Lease question,
MSRP $52,205 , Deal is $509 /MONTH included TAX 10K/YR, 1st payment + DMV only.
is this good deal , 2018 is not good promotion .
2017 GS350 is this one only availability among 12 dealer near by my Loc. I am not too crazy about option & feature .
MSRP $52,205 , Deal is $509 /MONTH included TAX 10K/YR, 1st payment + DMV only.
is this good deal , 2018 is not good promotion .
2017 GS350 is this one only availability among 12 dealer near by my Loc. I am not too crazy about option & feature .
Driver
Joined: Dec 2017
Posts: 98
Likes: 26
From: FL
I never lease cars but used to work for a leasing company many moons ago so know a little about them.
Leases are designed for folks who want to drive a new car every few years and can't afford to buy them, either with a loan or with cash. Financially for you, they are usually terrible deals as you're paying for the most expensive use of the car (first few years of depreciation) and the equity you're building is zero. So in a few years when need to trade it in, you're starting from a zero equity position and again paying for the rapid depreciation. Of course, anyone that buys new pays the depreciation--that's just a fact of buying new. Leases can be OK deals if you can negotiate the capitol cost down low and the car depreciates very little, which the GS does not (it depreciates very rapidly for a Lexus!).
If you base the capital cost on the MSRP, you are paying too much and need to negotiate that number and not focus on the payment amount. The dealer will only talk payment on purpose, and that is to TRICK you by hiding the numbers that really matter more...the capital cost, depreciation and payment factor as well as other fine print items that could burn you. Remember the dealer is probably going to try to lie you about this, perhaps telling you "The December to Remember leasing special is only valid for vehicles with a capitol cost at MSRP". This is BS if they tell you this.
If you don't know the payment factor/interest rates, you need to do more research and compare them. Know what type of payment factor you should get based on your location, your credit score, the car, the bank, etc.
Is there an early termination penalty? That gives you more flexibility down the road should you loose your job or whatever.
Is there a disposition fee at the end of the lease? Are you OK with the fee?
What residual is showing for the car? Does this seem to be inline with historic residuals? Remember the lease is based mostly on the difference between purchase price (capitol cost) and the depreciated value (ie residual value) so this is important to know and understand. The dealer will hide/cheat you on these figures with number games. That's what they do.
I'm sorry to drone on here, but so many people go into leases without knowing how they work, and that's when you get burnt and can loose thousands of dollars.
I agree with you on 2017 availability. There are hardly any out there and the choices you'll have are fairly limited. My dealer has, I think, 2 2017 GS's and about 85 RX's on the lot.
Good luck on the hunt.
Leases are designed for folks who want to drive a new car every few years and can't afford to buy them, either with a loan or with cash. Financially for you, they are usually terrible deals as you're paying for the most expensive use of the car (first few years of depreciation) and the equity you're building is zero. So in a few years when need to trade it in, you're starting from a zero equity position and again paying for the rapid depreciation. Of course, anyone that buys new pays the depreciation--that's just a fact of buying new. Leases can be OK deals if you can negotiate the capitol cost down low and the car depreciates very little, which the GS does not (it depreciates very rapidly for a Lexus!).
If you base the capital cost on the MSRP, you are paying too much and need to negotiate that number and not focus on the payment amount. The dealer will only talk payment on purpose, and that is to TRICK you by hiding the numbers that really matter more...the capital cost, depreciation and payment factor as well as other fine print items that could burn you. Remember the dealer is probably going to try to lie you about this, perhaps telling you "The December to Remember leasing special is only valid for vehicles with a capitol cost at MSRP". This is BS if they tell you this.
If you don't know the payment factor/interest rates, you need to do more research and compare them. Know what type of payment factor you should get based on your location, your credit score, the car, the bank, etc.
Is there an early termination penalty? That gives you more flexibility down the road should you loose your job or whatever.
Is there a disposition fee at the end of the lease? Are you OK with the fee?
What residual is showing for the car? Does this seem to be inline with historic residuals? Remember the lease is based mostly on the difference between purchase price (capitol cost) and the depreciated value (ie residual value) so this is important to know and understand. The dealer will hide/cheat you on these figures with number games. That's what they do.
I'm sorry to drone on here, but so many people go into leases without knowing how they work, and that's when you get burnt and can loose thousands of dollars.
I agree with you on 2017 availability. There are hardly any out there and the choices you'll have are fairly limited. My dealer has, I think, 2 2017 GS's and about 85 RX's on the lot.
Good luck on the hunt.
Lexus Champion
Joined: Nov 2013
Posts: 13,282
Likes: 1,890
From: WA
There really isn't enough info here to know if this is a good deal. We'd need to know the lease term, how much down (if any), residual, money factor, and negotiated price.
No offense, but good Lord please not this anymore. I lease. I CAN afford to buy it. And it is certainly a possibility to come to a lease end with equity to put towards your next purchase or lease. I've done it many times.
I never lease cars but used to work for a leasing company many moons ago so know a little about them.
Leases are designed for folks who want to drive a new car every few years and can't afford to buy them, either with a loan or with cash. Financially for you, they are usually terrible deals as you're paying for the most expensive use of the car (first few years of depreciation) and the equity you're building is zero. So in a few years when need to trade it in, you're starting from a zero equity position and again paying for the rapid depreciation. Of course, anyone that buys new pays the depreciation--that's just a fact of buying new. Leases can be OK deals if you can negotiate the capitol cost down low and the car depreciates very little, which the GS does not (it depreciates very rapidly for a Lexus!).
If you base the capital cost on the MSRP, you are paying too much and need to negotiate that number and not focus on the payment amount. The dealer will only talk payment on purpose, and that is to TRICK you by hiding the numbers that really matter more...the capital cost, depreciation and payment factor as well as other fine print items that could burn you. Remember the dealer is probably going to try to lie you about this, perhaps telling you "The December to Remember leasing special is only valid for vehicles with a capitol cost at MSRP". This is BS if they tell you this.
If you don't know the payment factor/interest rates, you need to do more research and compare them. Know what type of payment factor you should get based on your location, your credit score, the car, the bank, etc.
Is there an early termination penalty? That gives you more flexibility down the road should you loose your job or whatever.
Is there a disposition fee at the end of the lease? Are you OK with the fee?
What residual is showing for the car? Does this seem to be inline with historic residuals? Remember the lease is based mostly on the difference between purchase price (capitol cost) and the depreciated value (ie residual value) so this is important to know and understand. The dealer will hide/cheat you on these figures with number games. That's what they do.
I'm sorry to drone on here, but so many people go into leases without knowing how they work, and that's when you get burnt and can loose thousands of dollars.
I agree with you on 2017 availability. There are hardly any out there and the choices you'll have are fairly limited. My dealer has, I think, 2 2017 GS's and about 85 RX's on the lot.
Good luck on the hunt.
Leases are designed for folks who want to drive a new car every few years and can't afford to buy them, either with a loan or with cash. Financially for you, they are usually terrible deals as you're paying for the most expensive use of the car (first few years of depreciation) and the equity you're building is zero. So in a few years when need to trade it in, you're starting from a zero equity position and again paying for the rapid depreciation. Of course, anyone that buys new pays the depreciation--that's just a fact of buying new. Leases can be OK deals if you can negotiate the capitol cost down low and the car depreciates very little, which the GS does not (it depreciates very rapidly for a Lexus!).
If you base the capital cost on the MSRP, you are paying too much and need to negotiate that number and not focus on the payment amount. The dealer will only talk payment on purpose, and that is to TRICK you by hiding the numbers that really matter more...the capital cost, depreciation and payment factor as well as other fine print items that could burn you. Remember the dealer is probably going to try to lie you about this, perhaps telling you "The December to Remember leasing special is only valid for vehicles with a capitol cost at MSRP". This is BS if they tell you this.
If you don't know the payment factor/interest rates, you need to do more research and compare them. Know what type of payment factor you should get based on your location, your credit score, the car, the bank, etc.
Is there an early termination penalty? That gives you more flexibility down the road should you loose your job or whatever.
Is there a disposition fee at the end of the lease? Are you OK with the fee?
What residual is showing for the car? Does this seem to be inline with historic residuals? Remember the lease is based mostly on the difference between purchase price (capitol cost) and the depreciated value (ie residual value) so this is important to know and understand. The dealer will hide/cheat you on these figures with number games. That's what they do.
I'm sorry to drone on here, but so many people go into leases without knowing how they work, and that's when you get burnt and can loose thousands of dollars.
I agree with you on 2017 availability. There are hardly any out there and the choices you'll have are fairly limited. My dealer has, I think, 2 2017 GS's and about 85 RX's on the lot.
Good luck on the hunt.
Driver
Joined: Dec 2017
Posts: 98
Likes: 26
From: FL
Fair enough...I am surprised that there was positive equity at the end of the lease, and am glad that hear that that occurred. I stand corrected 
I really didn't intend to sound like a lecture BTW, but I realize it probably sounded that way. It's tough to give financial advice without sounding pious...
I really didn't intend to sound like a lecture BTW, but I realize it probably sounded that way. It's tough to give financial advice without sounding pious...
Driver
Joined: Oct 2017
Posts: 61
Likes: 13
From: NJ
Here in NY , 2017 GS350 Base model Lease question,
MSRP $52,205 , Deal is $509 /MONTH included TAX 10K/YR, 1st payment + DMV only.
is this good deal , 2018 is not good promotion .
2017 GS350 is this one only availability among 12 dealer near by my Loc. I am not too crazy about option & feature .
MSRP $52,205 , Deal is $509 /MONTH included TAX 10K/YR, 1st payment + DMV only.
is this good deal , 2018 is not good promotion .
2017 GS350 is this one only availability among 12 dealer near by my Loc. I am not too crazy about option & feature .
i assume you already took the deal? If not, the car is probably gone. In September Lexus had a deal $419 a month with $4800 down and the GS'es flew off the shelves ( err lots). I am not expert in deals, but based off of that and the deal I managed to get in oct on a 2017, it is def not horrible (assuming you put less then 2000k down). At the end, the house alway wins anyway. You won't get that deal on a 2018 anytime soon.
Pole Position
Joined: Dec 2014
Posts: 2,423
Likes: 623
From: South Carolina
I don't lease but, there are deals on 18's if your willing to search one out to buy. I just bought my 18 GS last Tuesday in Houston and I live just south of chicago. My airfare was $200 and well worth the trip and it was a blast driving it home. I plan to keep this car a minimum of 10 yrs. I specifically wanted RWD since part of the reason I traveled to find one since only AWD's are available in my region. I can guarantee you the best price you'll find on a new Lexus will be in California but, there's a catch, that Jerry Brown wants you to pay sales tax in his state too. Plus your state will most likely want sales tax. Not a good deal! Of course you could have the car shipped from Ca. to avoid their tax. I was not willing to do that. I feel it was well worth the trip $$ wise to buy mine out of state.
Last edited by DaveGS4; Mar 13, 2018 at 12:58 PM. Reason: offensive word
I never lease cars but used to work for a leasing company many moons ago so know a little about them.
Leases are designed for folks who want to drive a new car every few years and can't afford to buy them, either with a loan or with cash. Financially for you, they are usually terrible deals as you're paying for the most expensive use of the car (first few years of depreciation) and the equity you're building is zero. So in a few years when need to trade it in, you're starting from a zero equity position and again paying for the rapid depreciation. Of course, anyone that buys new pays the depreciation--that's just a fact of buying new. Leases can be OK deals if you can negotiate the capitol cost down low and the car depreciates very little, which the GS does not (it depreciates very rapidly for a Lexus!).
If you base the capital cost on the MSRP, you are paying too much and need to negotiate that number and not focus on the payment amount. The dealer will only talk payment on purpose, and that is to TRICK you by hiding the numbers that really matter more...the capital cost, depreciation and payment factor as well as other fine print items that could burn you. Remember the dealer is probably going to try to lie you about this, perhaps telling you "The December to Remember leasing special is only valid for vehicles with a capitol cost at MSRP". This is BS if they tell you this.
If you don't know the payment factor/interest rates, you need to do more research and compare them. Know what type of payment factor you should get based on your location, your credit score, the car, the bank, etc.
Is there an early termination penalty? That gives you more flexibility down the road should you loose your job or whatever.
Is there a disposition fee at the end of the lease? Are you OK with the fee?
What residual is showing for the car? Does this seem to be inline with historic residuals? Remember the lease is based mostly on the difference between purchase price (capitol cost) and the depreciated value (ie residual value) so this is important to know and understand. The dealer will hide/cheat you on these figures with number games. That's what they do.
I'm sorry to drone on here, but so many people go into leases without knowing how they work, and that's when you get burnt and can loose thousands of dollars.
I agree with you on 2017 availability. There are hardly any out there and the choices you'll have are fairly limited. My dealer has, I think, 2 2017 GS's and about 85 RX's on the lot.
Good luck on the hunt.
Leases are designed for folks who want to drive a new car every few years and can't afford to buy them, either with a loan or with cash. Financially for you, they are usually terrible deals as you're paying for the most expensive use of the car (first few years of depreciation) and the equity you're building is zero. So in a few years when need to trade it in, you're starting from a zero equity position and again paying for the rapid depreciation. Of course, anyone that buys new pays the depreciation--that's just a fact of buying new. Leases can be OK deals if you can negotiate the capitol cost down low and the car depreciates very little, which the GS does not (it depreciates very rapidly for a Lexus!).
If you base the capital cost on the MSRP, you are paying too much and need to negotiate that number and not focus on the payment amount. The dealer will only talk payment on purpose, and that is to TRICK you by hiding the numbers that really matter more...the capital cost, depreciation and payment factor as well as other fine print items that could burn you. Remember the dealer is probably going to try to lie you about this, perhaps telling you "The December to Remember leasing special is only valid for vehicles with a capitol cost at MSRP". This is BS if they tell you this.
If you don't know the payment factor/interest rates, you need to do more research and compare them. Know what type of payment factor you should get based on your location, your credit score, the car, the bank, etc.
Is there an early termination penalty? That gives you more flexibility down the road should you loose your job or whatever.
Is there a disposition fee at the end of the lease? Are you OK with the fee?
What residual is showing for the car? Does this seem to be inline with historic residuals? Remember the lease is based mostly on the difference between purchase price (capitol cost) and the depreciated value (ie residual value) so this is important to know and understand. The dealer will hide/cheat you on these figures with number games. That's what they do.
I'm sorry to drone on here, but so many people go into leases without knowing how they work, and that's when you get burnt and can loose thousands of dollars.
I agree with you on 2017 availability. There are hardly any out there and the choices you'll have are fairly limited. My dealer has, I think, 2 2017 GS's and about 85 RX's on the lot.
Good luck on the hunt.
anyhow... at the first glance, the deal doesn’t look that great for a 2017.
see what the money factor being charged is. Also, ask what the selling fee is. I’m guessing you can get about $10k off after rebates.
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Instructor
Joined: Sep 2011
Posts: 770
Likes: 108
From: Fl
Don't go for a 2017, get a 2018. The 2018s went down in price significantly. You can get a 2018 GS350 F-Sport starting at $52k, if I remember correctly the 2017 F-sports stared at around 56k so the same thing goes for base models, lux etc... that is why the GS were selling so poorly for the 2017s, the prices were too high.
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agreed.. my buy-out rate and trade-in value is about $7k apart... thank god I leased this one. that's after I got almost $11k off the MSRP.. scary.
Lead Lap
Joined: Mar 2014
Posts: 3,830
Likes: 1,336
From: NY
I agree that it feels like the GS suffers from a strong level of depreciation...but isn't that the case for others in the category as well such as a comparably equipped Audi A6, BMW 535i, E350 Benz? The trade in value on most of these mid sized lux cars falls quickly in the first 5 years. Maybe i'm mistaken, but I imagine that the comparable Audi/BMW/Benz would have a similar trade in value vs. used/cpo market value?
Lead Lap
Joined: Sep 2008
Posts: 3,706
Likes: 235
From: #BBNine
Don't go for a 2017, get a 2018. The 2018s went down in price significantly. You can get a 2018 GS350 F-Sport starting at $52k, if I remember correctly the 2017 F-sports stared at around 56k so the same thing goes for base models, lux etc... that is why the GS were selling so poorly for the 2017s, the prices were too high.