lexusbru1

Hello, brand new to leasing here and I'm trying to figure out if this is a good deal:

2017 GS 350 AWD F-Sport
12,000 miles per year
Residual is 49%
In response to my asking the dealer for the money factor/interest rate: "Lexus does not permit us to send out their money factor programs out."
$0 down, only the first month's payment due at signing. All other fees rolled in.

Thank you.

OneFunGS

So that isnt terrible. To put it into perpective we have a 2016 Toyota 4Runner. Price $46k and change. The lease on it is $658/month for 15k miles though. I would say that is an okay lease deal. Could it be better? Always. But it isnt bad.

joedaddy1

iTrader: (1)

that residual is really bad... wish it was better. When is the current lease program ending?

You definitely need to know the MF.. so you can put some MSD's on it and drop it to ~0%.
Sales price seems pretty good..

Goto edmunds.com to get the MF.

edit.. just did a quick calculation..
I think they are marking up the MF by a bit. Looks the the MF is close to 0% from Lexus. do you have great credit?
I think your payment with that ~$650 drive-off should be under $600. Your discount on the car is less than 10% on an outgoing model.
if you can knock another $1000 off the car price, we are at ~$550 range.
I would wait until month end. If a dealer says everything rolled in w/ $550 drive-off, that's probably the best deal right now.

mrpartsman

Well the payment is kind of high , again all depends on ur credit, I got my 16 F sport for $3500 down $499 a month including taxes, and 12K a year 36 month.

lexusbru1

OneFunGS - thanks. It seemed okay, but good to know.

joedaddy1 - I think the current lease program ends November 30. I played around with some lease calculators and I came up with about 8% interest rate, but I’m not sure that’s accurate. I don’t like that the dealer says they can’t tell me but they’ve been okay so far otherwise. I do have great credit so I’ll work on them between the money factor and the sales price like you suggest. Thank you for your help.

mrpartsman - thanks for the comparison.

I appreciate everyones help.

OneFunGS

Just to let you know, mrpartsman would be paying $596.22 per month if he had put $0 down. So that would make it an apples to apples comparison to yours I believe.