Modeler

Lexus web site advertises a lease offer on the GS 450h, but does not provide any details. My dealer says the offer is for money factor of 0.00255, which is equivalent to 6% interest rate. That seems to be too high to be a special offer. Does anyone have any details on the special rate?

Thanks.

jjbodean

that rate is correct if you have a 690+ beacon score, if you have a 730+ beacon it goes down to .00245

CarMonkey

What residual are they quoting you? Was this also mentioned to be part of the "special"?

jjbodean

no, the special is on the money factor, there isnt a special residual

let me be more specific: lexus financial services does not run specials on the residual percentages, only on the money factors

CarMonkey

OK. So what residual did you get (on what term)?

Jace7

that's correct.
I actually checked into leasing, but the payment / each month was only 10 dollars less than actually purchasing the gs450h.
go figure. I had a 813 as well. still not a deal to lease...

jjbodean

the residuals on the most popular terms are:

months - res %

24 - 59
36 - 51
39 - 48
48 - 39

add 2 points to each of those (except 24 months) for 12,000 miles per year, standard mileage for those % is 15,000 miles per year

Modeler

Exactly right! Since I'm driving about 9,000 miles annually, I asked for 12K miles, and the residual was 53%.

Thank you for the details on the money factor; I will ask why it wasn't 0.00245.

jjbodean

quoting the .00255 is a safer bet than the lower rate since more people will actually qualify for that rate

Modeler

I checked with the dealership today, and it turns out that I did qualify for the lowest money factor. Too bad it only lowers the monthly payment by $8...

One the other hand, I got an unbeatable deal on the car: $53,000 for the car with $60,200 MSRP! It is a demo car with less than 500 miles on it.