Thinking about leasing an IS for an extra car. For anyone who is familiar with leasing (I generally buy my cars), what kind of savings can I expect by choosing to lease a 2019 car once the 2020 models come out? Also again for anyone who has experience with leasing, when is the best time to get an IS lease? When do they expect to release the 2020 models. I plan on going in at the end of the month but I would wait if there will be significant savings. I am hoping to put no money down and get about 10,000 miles a year.

 

Leasing late in a model year's run does save you money. Usually the best incentives are right before the next year's model comes out or right after, while the previous year's models are heavily discounted. However, the longer in the year you wait for the old model, the more you take a hit on resale value. You are in essence leasing a year old car from day one.
Another disadvantage with waiting late is the choices for models, options, and the colors you like or want are much slimmer. If none of that matters to you, then nevermind. But for most, they at least want to pick out the color they like.
Lastly, don't lease a vehicle based on monthly payments, miles per year, or down payment. Lease based on how much you can get the car for under invoice and getting the lowest possible rate. Those two things yields you the best monthly payment and down payment.
Good luck and keep us posted.

 

Leasing a model year late in the year is usually a bad idea. The residual tanks once the new MY hits the lot.

if you are going for a late model year, purchase it. If you are going for the new MY, then look into leasing it.

Each car is different, and there’s exception to the rule. Compare the residual % of the two MYs. Easy math says if one is 10% less than the other, then you need that much more discount off the price.

 

Thank you to both of you. One of the reasons I was looking into leasing an IS right now is because I saw they were giving incentives called "lease cash." It's a regional offer here in FL. Maybe it is because it is toward the end of the 2019 model? Not sure. The deal is $4250 of lease cash paid toward the cap cost reduction. This alone seemed like a good savings but it could just be an advertising ploy.

 

There is a lengthy "all about leasing" sticky thread here in car chat that may be a good read for you. I have no experience leasing but reading that can give you a good overview of what to look for - seems like it's important to identify the money factor when determining the details & payments of your lease. Lots of tips in that thread. Good luck.

Edit: providing link https://www.clublexus.com/forums/car...nd-buying.html

 

Thanks for that Jrmckinley very useful thread. May have to switch over and apply those skills to an NX as I am hearing that even the 2019 IS300 does not have apple car play.

 

The current IS is due for a refresh and pretty dated in comparison to the competition, and in 3 years the demand for them will be even less than today, so the residual is expected to be on the lower side. With that said, discounts are therefore available!

I'm in So. Florida and I like JM Lexus because of their Up Front Pricing on new cars, with NO DEALER FEE. I recommend them because I think I got my GS lease at a great price last year... using their pricing at a different dealer. Good luck and Happy Shopping!

I just got this quote online for a non F Sport IS 300. You can see the dealer discount up front, and the different Lexus cash rebates for lease vs. cash, no rebate for financing through Lexus but you can get 0.9% if eligible.

 

JM lexus dealership is also the dealership that I most likely will be going to as well! What you posted is very useful. Can you tell me where on the site you went to get to the lease payment estimator you posted a photo of?

 

The Express Store, here on the website banner. If you provide name, phone # and email, it will actually give you price quotes for any vehicle you select. You can then choose the option to Lease, Finance or Cash, and there's a "Price Details" link. Those are 3 separate pricing options I pasted side by side.

The JM salesman was pretty quick with his follow up as well, I got a phone call in less than 10 minutes... just told him I wasn't in the market to buy right now but liked keeping up with the pricing from time to time.

Good luck... let us know what you decide on.

 

If you haven’t done so, go over to Edmunds IS300 lease forum and ask for MF and RV for your zip code. Just skimming through the latest posts on said forum, it appears Lexus is offering super low MF (0.00001), but as expected the RV is in the toilet (~49%). After you obtain these numbers, head over to leasehackr forum and play with their lease calculator. It’ll give you an idea what to expect before contacting any dealer.

 

Wow thanks again to both of you for that info. You both have been an excellent help. heading over to Edmunds now.

 

So any updates?

 

Ended up going and getting a new 2020 NX300 instead picked it up today. I really wanted the apple carplay and drove both and decided the NX was a better fit. Thanks for all the help.

 

Congrats! The NX is a nice ride as well. Way more versatile than an IS. What trim did you get? Did you use JM and their Express Store?

 

I got the middle trim. Its fully loaded besides navigation for a non-F sport model. So far very happy with it. However, after purchasing with their new one price I am not sure how much I like it. I kind of miss the old bargaining days where I felt like I was getting a good deal. Their new style they will flat out tell you they will allow you to walk for $5 less a month or an attempt to throw in free window tint I am interested to see how it works long term however they made it clear it's been going on for a few years and they are still #1 according to them for volume.