I am a former (3 months ago) GS400 owner. I needed an SUV and was lured to the VW Touareg. Long story short; it is being repurchased by VW and I am out in the car market again. I want to come back to Lexus; I looked at a GX470 and loved it, but was disappointed by the lease I was quoted.

I was looking at a GX470 with Nav/Levinson, tow, 3rd row seat. I want to stay sub $600 month and hoping for a 39 month lease/ 15k per year with $3k down. Unfortunately, I was told that was not possible. Here is the best I was told they could do:

Lease: 51 months (I would never go that far)
Down: $3,000 (total including all fees)
Miles: 15k per year
Payment: $597

Is this pretty standard? There is only one dealership in Oregon so there is not any competition. I would go anywhere within 1,000 miles if I can find a substantially better deal closer to my ideal terms.

 

It sounds like you gave them your number and the dealer backed-into it. I don't lease, so I can't say whether what you were quoted is "standard". However, Lexus just commenced their "Decemebr to Remember" campaign under which they're supposed to be offering customers "special" lease and finance rates. Is what you were quoted under that campaign? Is the GX you're interested in an `04 or an `05? If its any help, I purchased an `04 GX470 in October for $46,700 (dealer's price quote before cash-down, trade-in, etc.); so, there should be lots of room to negotiate on price if you're dealing on an `04. My understanding for the `05s from reading other posts on this forum is that the best deals folks are getting right now is $3,000 over dealer's invoice price.

 

Here in NJ, my dealer also told me about the December to remember event and additional lease savings, however off the bat he gave me these numbers since I wanted to get some general ideas.

No Money Down / 3 Year / 36K Miles / Basing it off MSRP - so no discount yet to further reduce the monthly payment.

1. Fully loaded 05 GX470 (no Sports Package) - Around $ 830 / month
2. Fully loaded 05 GX470 (with Sports Package) - Around $890 / month

Again use this as a reference ONLY since this is with NO Money Down and No Discounts off MSRP at this time.

 

I also wanted to add that although I am no lease expert, HOWEVER 51 months for a lease seems like a heck of a long time for a lease period.

 

I would not agree to a lease that long (51 months). I was hoping for something around 39 months, perhaps as long as 48 but that is not ideal for me.

I may look into other vehicles. Even if they are much less of a vehicle, the financing being offered by the American companies are hard to ignore.

 

I too would strongly advise against it. Warranty runs out in 48 months. I've seen leases on '04s as low as $599/36months/36K with Nav and third row. I don't see anyone offering that for 45K miles. In your case, I'd suggest you go for three years since you are looking to put 15K miles a year.

 

I was in the same situation. In the 2005 GX470 - Why I am waiting thread we discussed a lot of your questions.

I'm not exactly sure how to cut and paste a link, but I will try here to paste my Adobe PDF which details my lease calculations.

https://www.clublexus.com/forums/att...postid=1100265

I paid $46,600 last monght for my '04 GX with NAV/MLS, RSES, Tow, Spoiler, third row seating and with destination (approx $1500 or so over invoice); MSRP was $51,938. My lease is through USBank at around 4.2%, 39 month term, 45k miles for the lease duration, no money down (I believe I paid actually $800 or so and the first months payment of $649).

You may be able to beat my deal and hitting your target monthly payment number since its been about a month and the dealerships may be ready to deal even more.

Also, I live in AZ and bought mine via California--shipping cost was only $350 and they delivered to my home. Well worth it!

 

Jeremy,--could you lease either email or pm me with the contact info for whom you purchased the vehicle. That is a much better deal than I am being offered. I have shipped a car before and would have no reservations about doing it again. Thanks

 

You are right about the American Car companies offerring better incentives, since they seem to have a lot of inventory sitting on their lots. I would consider the SRX Fully Loaded V8 (Magnetic ride, etc..), but that Caddy can get up to $60K with options? I would spend that $60K elsewhere of course, but the SRX is a great offerring from Caddy and maybe they will throw in huge savings incentives.

I considered the SRX at one point, but the 2005 GX470 seemed the better choice for me overall.

 

I lease my GX from April. I wanted to have same options as you (ML, NAV, 3rd row) but at first I found payments only more than $700 (around $750 w/ ML/NAV) with 0 down. So, I started looking for GX w/o those options because I wanted to have payment around $600. NO way! I was told that I wouldn't be able to find a car w/o 3rd row at least.
I was even thinking of getting a demo, but was told that it would not make mike payments lower because of the different programs/money factors.
Then it was March 29, when my friend said that I have to send e-mails to every Lexus dealer in TriState area. I did and to my surprise one dealer and then one more was MORE than willing to negotiate.
Don't forget that it was the end of the month and the end of the Quarter. They all have to meet their quotes
to sell spesific number of vehicle. If they don't meet it - they are screwed. So, for them better to go down in price for you.
So, the offer I got was GX w/ ML/NAV/3rd row, $51,800 MSRP, 48 month (at the last moment they offered me to change it to 39m, I agreed and I think it was better deal to them), around $4K out-of-pocket (taxes + first payment, bank fee and security) ==> $550 a month (of course I had to choose from colors they have in stock).
BTW, I called to the closest dealer trying to match the deal, but he said he cannot even be close. So, it greatly depends on the dealer and how desperate he is.
I understood that they all can do almost what ever they wants, just they usually don't want to give you a great deal.
In May another person got the same deal and just recently another friend of mine found same deal (he had a real problem to find it, but he did).

So, look around more. Send e-mails, call. Sometime in one dealer, one salesperson ready to deal and another is not.

 

Hey 98Nav400, have you gotten a good lease deal yet from your dealership and still going the Lexus route or going with another vehicle? Keep us updated on your findings. Thanks!

 

FYI - UPDATE

I got it down to $720 / Month (after discount, still no Money down and for NON Sports Package) and can save a significant amount if I decide to pay it all at once with my traded in RX330. It's call Lexus one pay for Leasing and seems like a no brainer if you can do it. I am continuing to negotiate. Believe in the DECEMBER to REMEMBER lease deals.!

 

LexusguyNJ: I too live in NJ. What dealer did you get the price from (if you don't mind me asking)? was this with a trade-in? I have an 03 GX470 with 33k on it that I would like to trade in for an 05-not sure if they will kill me on the trade in though.

 

Hey Morgt are you looking to lease & is your 03 GX470 already paid off? If it is, then negotiate the trade in value of your vehicle with the dealer and consider the one pay to save a couple thousand dollars. I will PM you with more details.

 

Hi lexguynj,

Can you give me some more detail on your deal? Does $720 include tax? What was the MSRP? etc..
Thanks.