I did the same thing with BMW. A car stickered at $92,XXX I could have gotten for $1300 a month 0 down including taxes for 12000 miles/year. The money factor and factory rebates are just unbelievable on those cars now. I wish Lexus had those. I was talking to the guy where I ordered my LS460L and I'm not sure if he was just making me feel better but he said that more then likely people are going to be paying MSRP on 460 fro about 14 months. That did make me feel a bit better. :-)

 

Using EKM's financing formulas, your monthly payment should be $1305 before taxes. I don't live in MD, but I believe the tax rate is 5% there? If so, the final number with taxes would be $1370.

Shall we assume the rest is dealer financing markup?

 

dmitry, are they rolling in some of your up-front taxes into the lease payment? in maryland they collect all your taxes up front which would make your initial down payment higher than you quoted, but your payment less. i would bet thats the case if i had to guess.

 

I think Lexus allows you to use mulitple desposit to lower the money factor. For each deposit, it lower the money factor by 0.0001 (roughly 0.24%). We did it with an 02 LS430 Ul and 02 SC430 (roughly 81K with a sales price of 76K for the LS430). The total deposit was in the neighborhood of $7500 and it save about $120 or so a month in payment (the rent + tax portion of the lease) . At the end of the lease, we get all the deposit back. You can run the number use the lower money factor and it should give you the right number. Also for people in Calfornia or state that tag the sales tax on to the monthly payment, you save a portion of the tax as well. At the time we did it, the finance manager has to call Lexus to confirm, so it is not widely known.

You wouldn't expect good money factor at this stage. Manufactorer loss money on good money factor. If the car is hot, we'll be lucky to get 0.003. However, the residual is low. It is probably has to do with the amount of gadget in the car. And over the year (we leased 6 lexus since 91), I found the Lexus residual are pretty spot on for trade in as well. However, if you want to sell it yourselves, you can do substantially better than Lexus quote.