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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.
This was incredibly well written! Luckily, I had a Fellow Member here walk me thru my RC-F Purchase, but as I'm about to step into a 2020 ES FSport Lease I'll be reading this over 10 times! Heard same on ES Incentives and that one can only max out with an approximate $3500 off MSRP (Told by a GSM I trust) so we'll see next week.
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!
Interesting, most information I see on the average age of cars still on the road show it's been increasing steadily to roughly 11.8 years old now. This would seem to contradict your statement about "most Americans" getting rid of cars after 3-4 years?
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.
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!
This is really a subjective question and ultimately comes down to what is the most pleasing to YOUR eye. My wife and I really enjoy the Atomic Silver and it has different tones depending on the lighting. After owning our first one in Atomic Silver, we insisted the replacement would be the same color. Frankly, the Silver Lining is nice enough, but it is just a very typical silver, like Audi and everyone else uses. The Atomic silver doesn't show dirt too bad, but when it is clean and freshly waxed it practically glows (...perhaps it won't glow once it reaches its half life ). We had an RX in Nebula Gray Pearl and in my opinion, that was the easiest color to take care of. It doesn't show the minor scratches (or swirls) like Atomic Silver, and it didn't show dirt like our darker Matador Red NX.
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.
Tesla lowered their prices yesterday...I'm not having luck getting dealers to lower the price on a new ES & am debating between a model 3 or ES now. Is anyone else in a similar position?
With the dealer newsletters printing detailed guides on educating customers about plant closures, the dealers are jacked with the "NO MORE SUPPLY" and "HIGH DEMAND" and "we have enough capital to go without 6 months of no sales"
With the dealer newsletters printing detailed guides on educating customers about plant closures, the dealers are jacked with the "NO MORE SUPPLY" and "HIGH DEMAND" and "we have enough capital to go without 6 months of no sales"
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.
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.
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.
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.
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!
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!
Hi, how much did you end up getting the car for? I'm in the market myself and looking to find a comparison. thanks!
Hi, how much did you end up getting the car for? I'm in the market myself and looking to find a comparison. thanks!
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.
Line.2020 ES350 w F-Sport Package
Atomic Silver, w Black Interior
$2000 down
15k Miles a year
Full Wear and Tear Coverage
Finance Rep Comped Some "Interior Protection Product "ResistAll?" If anyone's heard of it or wants it? They left the Box on floorboard.
Monthly Lease Payment of $519.00
Sure hope that's good since my NY Connect said it exceeded his numbers because!
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.
Line.2020 ES350 w F-Sport Package
Atomic Silver, w Black Interior
$2000 down
15k Miles a year
Full Wear and Tear Coverage
Finance Rep Comped Some "Interior Protection Product "ResistAll?" If anyone's heard of it or wants it? They left the Box on floorboard.
Monthly Lease Payment of $519.00
Sure hope that's good since my NY Connect said it exceeded his numbers because!
Appreciate it...but I’m looking to finance! Thanks anyways!
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.
05-29-20, 07:49 AM
Bravo!
). We had an RX in Nebula Gray Pearl and in my opinion, that was the easiest color to take care of. It doesn't show the minor scratches (or swirls) like Atomic Silver, and it didn't show dirt like our darker Matador Red NX.
