Ira Senoff

What should I expect for the average lease deal on a 2008 LS 460? Car is for my wife. I expect she wants Nav and some other minor options........

Thanks in advance.

rominl

iTrader: (4)

this is too hard to estimate, given the wide range of pricing for the ls460. also it depends on the lease terms, cap cost, money factors, etc... and of course your credits too. best way is to negotiate a cap cost with dealership first and make sure it's a good price, then talk about lease terms

rdrtkd

i agree. we leased and here is what we did.
1) made best deal on the car
2) then talked lease and finance
3) we settled on a 3 year lease...too good to pass up and we usually do not keep cars for more than 3 - 4 years.

Mike_TX

I think part of what the OP is asking about is such things is:

- Average residual %
- Top-tier money factor
- Average discount off MSRP, if any

In fact, I wouldn't mind knowing those things, too.

.
.

rominl

iTrader: (4)

average residual is around 50% for 3 yr 12k miles i think

money factor changes every month and also according to credits though

for 08? i don't know exactly the prices now, but i think working from invoice price (at least for socal). here in socal there are a lot of swb to choose from. i don't know about other states

Ira Senoff

Mike TX - thanks for clarifying the post for me.

As for the average lease deal, no money down (other than inceptions), 3 yr/36k miles, credit score exceeds 800.

Dealers and leasing services in NJ are looking for appx $1000.00/month. Seemed a little high to me but now, knowing a 50% residual, maybe it is in line. Then again, I am a little surprised by the 50% residual.

Mike_TX

Wow, I have to agree with that! A 50% residual for a top-of-the-line Lexus would be surprising.

Senoff - if you can give me the your final negotiated price, the actual residual and your money factor, I can calculate your lease payments if you don't know how. But if you can lease a new LS w/nav for $1,000 a month with no down, I'd say it's not a bad deal. Is there a trade-in involved?

.
.

Mike_TX

I just checked edmunds and it looks like a 36-month lease with 12,000 miles is pulling a 56% residual through Lexus Financial. Their buy rate is .00275.

By my calculations, a base SWB LS460 with Nav Pkg. would have a sticker price of about $71,700. That would yield a monthly lease payment of about $1,184. with no down. 15,000 miles would of course change things a bit, but I didn't see the factors for that.

If you either negotiate some discount or have a trade-in or buy down the finance rate, or if you have a financing source with a far better money factor, you might do better, but I don't think you'll get down to $1,000/mo. otherwise.

.
.

DrComputer

go to www.leasecompare.com to get the rates, residual values, and money factors.

Mike_TX

That's a good resource for 3rd party lease info, but I've never had any luck finding LFS terms there (?)

.
.

woppenhe

Ask about a single payment lease. Much lower finance rate (of course, you are paying everything up front), and no monthly payments. I do not remember the specifics now, but when I ran the calculations, since I planned to pay cash anyway, with what I saved and invested, even at money market rates, it was a wash, and I could still buy the car in three years, if I wished, or just go on to the next one. Worked for me.

MSL

yeah but thats at full MSRP you got it be crazy to pay full sticker for a car. you can get away with a price f 68,000 for the LS460 with nav. and do the math from there

Mike_TX

Yes, my numbers are based on full MSRP, since I didn't know what he had negotiated.

.
.

Ira Senoff

Thanks for all of the information. After all of that, my wife and I decided that she had to have an all wheel drive car. As we recently got rid of an 00 GS 400 not so long ago (7 months), she did not want another GS and we opted for another brand.

However, along the way, I met a sleazy F & I manager at the local BMW dealership. He tried to play it fast and loose with the lease numbers and he was at least $130.00 per month too high - his computer program shows, on screen, the down payment and taxes paid and then double counted them, adding nearly $4,900.00 back into the deal (Said another way, the dealership takes the money but does not credit it towards the deal). Although I immediately knew that he was cooking the books, it took me a while with the calculator to determine exactly where he was cheating. He was stealing a little from column A and lots from column B. Needless to say, my wife did not end up with a 535 xi (or is it ix)? Who cares anyway............

Drove across the street to Mercedes Benz and had a great, pain free 30 second negotiation, and signed up for a lease on the E Series 4matic. Black on Black, sport, nicely optioned (Panaromic Roof is very cool). Classy car and great dealership to do business with. Almost left with the CLS 550 but that is more for me than her.............. Anyway, that does not have all wheel drive.

With the GS sold and the RX about to be turned in for the E Class, for the first time in 7 years, no Lexus will be in the "stable".

Thanks for all the input. Maybe next time I'll take another Lexus.