2019 ES350 Best prices paid so far?
#406
Instructor
Bravo!
Long time believer in leasing, especially of luxury vehicles... They say there's three things you don't talk about at parties: Politics, Religion, and Leasing. People have very strong opinions on it, but at the end of the day, a car isn't an investment. It's actually an awful expense that devalues every sleeping and waking second you own it. I prefer to own it in the cheapest way possible, especially since like most Americans, I get rid of new cars after 3-4 years.
That being said, I would recommend a zero dollar drive off UNLESS you are doing Lexus Financial's multiple security deposit program. The multiple security deposits are refundable at the end of the lease. If you don't specifically ask or see it in your paperwork you're probably actually paying a down payment on the lease. If you drive the car off the lot and get T-boned and the car is totaled 30 minutes into ownership, you lose your down payment... you don't lose multiple security deposits. Some dealers are a PIA about the MSD's, even saying "we don't do those"... I can assure you Lexus Financial is one of the few dealer finance companies that does it. The dealer would much rather have a traditional down payment though.
That all being said, a lease is just a math calculation. If you know the price of the car (negotiated first of course!), the Lexus Financial published money factor, and the Lexus Financial published residual, you can calculate your own lease payment. Some dealers will attempt to mark up the money factor to make money (money factor is equivalent to the interest rate), if they do... walk.
In my case, it was actually cheaper to get a Luxury with all the options over an Ultra Luxury that was the same price. Ultra Lux sometimes has a worse published residual. Unfortunately, the ES appears to not really have any amazing lease programs. My 2019 is one of the worst leases in terms of monthly cost vs total price of the vehicle I've ever paid. Very little incentives, no conquest cash, Money Factor not really low. A 5 Series was going to have been cheaper and maybe even a E Class too (never an Audi though, their leases are horrible), but I did it because I liked the car, it's bigger than the 530e, and E Class, and I liked the Hybrid drivetrain. It's odd that they aren't more aggressive, both because of the economy going to *****, and because the ES is their bread and butter volume car, but you do you Lexus.
Edmunds Forums where you can ask what the Lexus Financial terms are for the model/mileage you want: https://forums.edmunds.com/discussio...-and-prices/p5
MSD Program: https://www.lexusfinancial.com/us/en...g_a_lexus.html
Lease Hacker website: https://leasehackr.com/
That being said, I would recommend a zero dollar drive off UNLESS you are doing Lexus Financial's multiple security deposit program. The multiple security deposits are refundable at the end of the lease. If you don't specifically ask or see it in your paperwork you're probably actually paying a down payment on the lease. If you drive the car off the lot and get T-boned and the car is totaled 30 minutes into ownership, you lose your down payment... you don't lose multiple security deposits. Some dealers are a PIA about the MSD's, even saying "we don't do those"... I can assure you Lexus Financial is one of the few dealer finance companies that does it. The dealer would much rather have a traditional down payment though.
That all being said, a lease is just a math calculation. If you know the price of the car (negotiated first of course!), the Lexus Financial published money factor, and the Lexus Financial published residual, you can calculate your own lease payment. Some dealers will attempt to mark up the money factor to make money (money factor is equivalent to the interest rate), if they do... walk.
In my case, it was actually cheaper to get a Luxury with all the options over an Ultra Luxury that was the same price. Ultra Lux sometimes has a worse published residual. Unfortunately, the ES appears to not really have any amazing lease programs. My 2019 is one of the worst leases in terms of monthly cost vs total price of the vehicle I've ever paid. Very little incentives, no conquest cash, Money Factor not really low. A 5 Series was going to have been cheaper and maybe even a E Class too (never an Audi though, their leases are horrible), but I did it because I liked the car, it's bigger than the 530e, and E Class, and I liked the Hybrid drivetrain. It's odd that they aren't more aggressive, both because of the economy going to *****, and because the ES is their bread and butter volume car, but you do you Lexus.
Edmunds Forums where you can ask what the Lexus Financial terms are for the model/mileage you want: https://forums.edmunds.com/discussio...-and-prices/p5
MSD Program: https://www.lexusfinancial.com/us/en...g_a_lexus.html
Lease Hacker website: https://leasehackr.com/
The one thing I struggle with is Exactly which of these 3 Colors looks best. Atomic, Silver Lining or Nebula?
Anyone with one of these is welcome to chime in on their color and any potential regrets! Thanks!
#407
I think he was referring to people who usually buy only "new" cars. People fall into two groups- new or used buyers. And of course, the most economical practice is to buy something (new or used) and run it forever and keep it until the wheels fall off. But at some point, being a skin flint is not much fun. It is a balance- sometimes leasing is better than buying and sometimes not depending on incentives and the market at the time. One caveat- don't lease a vehicle for a period longer than the vehicle warranty unless you want to get under water fast.
#408
Pole Position
Much of your decision will depend on how much effort you want to put into keeping it clean, but the important question is what is the most pleasing to you? The color choice is extremely personal/subjective and anyone responding to this question is going to have their own opinions and justifications for those opinions.
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irishbrahm (05-29-20)
#409
Lead Lap
#410
Only time will tell if the new "it's different this time" dealer strategy works. If so, it will probably mark a first in the history of selling autos. I don't believe the majority of new car buyers are that stupid.
#411
Driver School Candidate
Lexus finally dropped their financing rates to 0% for 60 months, and they upped the cash back another $500 on the ES 350 (now $3k). But it looks like the ES 350 F Sports are drying up at the dealerships near me. So looks like I’ll be ordering a 2021 ES 350 F Sport, assuming I survive ongoing layoffs.
#412
Now is actually a bad time to buy a new car according to an article in CNN (yea, I know). Industry inventory is the lowest in 18 months, so the pickings aren't very good if one is set on a particular build. They are saying the 0% financing during the shutdown worked far better than imagined. Ordinarily, zero financing represents 2% of sales, but during the pandemic, it amounted to 20% of cars sold. (Yes, I know, the base of sold cars was low and time will tell if this was a real factor).
We do know from other reports here that Lexus is planning to produce at a 25% level for the remainder of the 2020 model year, so be warned about how snotty their dealers may become. Don't know when Lexus will start switchover to the 2021s.
https://www.cnn.com/2020/06/05/cars/...ies/index.html
We do know from other reports here that Lexus is planning to produce at a 25% level for the remainder of the 2020 model year, so be warned about how snotty their dealers may become. Don't know when Lexus will start switchover to the 2021s.
https://www.cnn.com/2020/06/05/cars/...ies/index.html
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TangoBravo (06-08-20)
#413
Lead Lap
Now is actually a bad time to buy a new car according to an article in CNN (yea, I know). Industry inventory is the lowest in 18 months, so the pickings aren't very good if one is set on a particular build. They are saying the 0% financing during the shutdown worked far better than imagined. Ordinarily, zero financing represents 2% of sales, but during the pandemic, it amounted to 20% of cars sold. (Yes, I know, the base of sold cars was low and time will tell if this was a real factor).
We do know from other reports here that Lexus is planning to produce at a 25% level for the remainder of the 2020 model year, so be warned about how snotty their dealers may become. Don't know when Lexus will start switchover to the 2021s.
https://www.cnn.com/2020/06/05/cars/...ies/index.html
We do know from other reports here that Lexus is planning to produce at a 25% level for the remainder of the 2020 model year, so be warned about how snotty their dealers may become. Don't know when Lexus will start switchover to the 2021s.
https://www.cnn.com/2020/06/05/cars/...ies/index.html
#414
Instructor
Atomic Silver Away
Pulled the trigger on a Leased 2020 ES Fsport in Atomic Silver / Black last week. I must admit theyve done a super good job on this model from what it used to be years ago! Very happy w numbers and ride. Thanks!
#415
Driver School Candidate
Join Date: Feb 2013
Location: ca
Posts: 5
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Hi, how much did you end up getting the car for? I'm in the market myself and looking to find a comparison. thanks!
#416
Instructor
Es f-sport
Bottom Line.
- Line.2020 ES350 w F-Sport Package
- Atomic Silver, w Black Interior
- $2000 down
- 15k Miles a year
- Full Wear and Tear Coverage
Monthly Lease Payment of $519.00
Sure hope that's good since my NY Connect said it exceeded his numbers because!
#417
Driver School Candidate
Join Date: Feb 2013
Location: ca
Posts: 5
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Tell me, are you somewhere in the DC, MD, Northern Virginia area? If so, I can see if they'd be interested in doing same deal. Then again its the 3rd Lexus from them. My deal was a bit different because I already had the lowest numbers from another GM who I got my RC-F from in Brooklyn NY.
Bottom Line.
Monthly Lease Payment of $519.00
Sure hope that's good since my NY Connect said it exceeded his numbers because!
Bottom Line.
- Line.2020 ES350 w F-Sport Package
- Atomic Silver, w Black Interior
- $2000 down
- 15k Miles a year
- Full Wear and Tear Coverage
Monthly Lease Payment of $519.00
Sure hope that's good since my NY Connect said it exceeded his numbers because!
#418
November 2019
Florida
Luxury
MSRP 51,105$
Price before TTL: ~44,500$
Out of Door Price: 46,620$
Plus this was a 0%/60 mos finance, so I think I got a steal of a deal with all those discounts
Florida
Luxury
MSRP 51,105$
Price before TTL: ~44,500$
Out of Door Price: 46,620$
Plus this was a 0%/60 mos finance, so I think I got a steal of a deal with all those discounts
#419
Not in the market, but out of curiosity checked the 2020 ES inventory of the local dealer. They normally have 40-50 ES350 and 12-15 ES300h vehicles in stock. They currently have no hybrids, and only 10 ES350s, all of them Premium models. Assume this is similar to other parts of country, which will make it difficult finding the desired trim level, as well as getting a good deal.
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coolsaber (06-21-20)