just got a call from dealer advising lexus has an early termination program for es 300. too bad i terminateslast month but maybe this info will help others

 

actually i beleive they have had this for a while already. it's all based on random selected customer (mostly return customers with encore record?), that they can terminate their lease sooner and get another lexus if they want. i believe it's 6 months earlier?

 

i think your right. in december leus essentially paid the remaining 6 months on my wife's es300 along with arewslly good lease deal on my sc430. i can't help but thinking i would have done better now in response to a call from the dealer. btw does lexus usually heve encore programs going on? i hope so as really interedted in the new gs to replace our s type jag.

 

i beleive they always do? i know my sales she has owned couple of lexus since long time ago and she got it

i bought my is300 in march 03, and then when i got my sc430 in nov 04 they have the encore. and i checked, if i get the ls430 now, i will be on encore too

encore is a BIG deal in financing or leasing another lexus imho. you get a lot lower rate, and together with multiple deposit plan, you have a killer deal

 

the multiple deposit is an absolute no brainer with leus &benz, not so good with bmw. its amazing how many people aren't aware of this program

 

oh what's bad about the multiple deposit plan from bimmer?

and yeah, the lexus one is sooooo good, i couldn't believe it when i first learned about it and worked out the numbers... i had to confirm it twice to make sure i wasn't dreaming.

 

will someone please explain all this leasing Encore stuff to me? I'm graduating college in a couple months and am thinking about leasing a Lex (especially since i think i'm gonna be living at home and working... income with no expenses)

 

umm, i will use an example, that's the easiest. say you wanna lease a new is300 fully loaded, and the payment comes out to be 400 bucks a month (again, just an example, arbitary numbers). ok? so now, if you can put down multiple of the payments, say 450, 800, 1200, etc.... up to 9 times the payments, meaning 3600, as a fix deposit

for each "extra" deposit, you get 1 point off on the interest rate i believe. so that means at most you can reduce your interest rate by 0.9%, that's a lot imho.

so basically say you lease the is300, if you put down 3600, then your payment would be like 360 instead of 400 (for example), for 36 months, blah blah blah.... and after the 36 months, you get the WHOLE 3600 back again.

i hope i got it right. at least the big picture is correct.

and if you are a new grad, check with dealership to see if they have student / new grad discount. they had it a while ago on the is300 i believe

 

Am I missing something here? Didn't know you had (or could have) interest on a lease. Leasing a car is not "borrowing" the money per se like it is on financing an outright purchase. Leasing is just paying the difference between the list price new and the projected residual value (the depreciation) after 2-4 years.

Henry...I'm not saying you're wrong. You may in fact be right, but interest on a lease payment is something I certainly am not aware of.

 

young man-- save save save!

 

i'm not sure how toexplian it but there is interest on a lease. multiple sec deps on my 05 sc loewres the rate to almost zero 7almost $1oo per month. think of it as a loan to lexus financial which is paying interest to you. crunch the numbers and you will see that the rate of return is exceptional. as to bmw the program available to me in december on the 6 series convertible woukd have saved only about $15-20 a month.

 

interest on a lease = otherwise known as the "money factor". It's almost the same thing, just different language used. Ultimately it's all money the bank gets for "lending" you their car.

MSD's (Mulitiple Deposit Leases) are GREAT, but the problem is not a lot of people have that kind of money sitting in their bank account. But if you DO have it, then by all means, the rate of return on the deposit is far greater than anything else being offerred out there. And Rominl is right, you get all the money back at the end (provided you don't go over the miles or trash your car, then they deduct some and send back the balance). I highly recommend MSD leasing to anyone.

Wow, $15 - $20 bucks a month, that's all?? Lexus gets anywhere from $40 - $70 monthly, depending on how much you put into the deposit and what car you get.

 

ah, sorry about that, i got bad terminologies... money order / interest, whatever. to me that's money down the drain

anyway, yup, the MSD is great, and the savings i got on my sc430 is just tremendous. longo lexus, am i allowed to say how much i saved?

 

yup, that's all.this was one of the reasons i didn't go for the 6 series. lexus value for most models is hard to beat