BlackStevo

I'm looking at leasing an Is350 with sport package (MSRP-$43,069) for 3 years with 15k a year. The price is 598.99 a month with 3900$ down. i'll probably put around 3300$ down so I'm expecting the payment to go up about 15$. I dont know what the money factor is but thats the deal i'm looking at with Tier 1 credit. (690-730 score) Please tell me if you guys think its a good deal and if its worth it, or if I should look around. it soudns like a great deal to me though. I''m in Long island Ny and tax is 8.63% Thanks and let me know

krs71

Seems kind of high.......for that price and money down you could get a gs300.........is this at rallye's?

06350is

whats the lease on a GS??

krs71

If I remember correctly it came to 620/month ......5k down and 48months/12k per year...........not sure though.....

BlackStevo

i'd rather have a Is350 then a gs300. by far. and its 3 years not 4 years, I think the 3 years is making it a little higher. this is as lexus of smithtown

BlackStevo

thats more then an IS. you put down 5k on the deal i'm working with and your at like 570$ a month. and thats with 3 years, if you made it 4 years it would be around 550$ most likely. and that makes perfect sense. AND THIS IS WITH 15K A YEAR!!! IF I DROPPED IT TO 12K IT WOULD PROBABLY GO DOWN EVEN FURTHER TO AROUND 530-540 A MONTH. Its probably 80$-90$ difference.

The Gs300 stickers around 48k. The Is350 with sport package stickers at 43k. 5k difference.

krs71

the gs300 invoices for 45K (Fully loaded) and you can probably get away with paying 1000 above invoice......you may want to check out rallye's everyone that's gone there claim to get excellent deals and service.

shaolin

iTrader: (2)

that sounds about right even i think it's too high.

a lady that was purchasing the same car at the same day as me she put about that much down and her lease was just over 7bill

BlackStevo

any idea of who to speak to in particular?

I called lindsay at ralleye and i'm awaiting a responce. I'll post up once I hear soemthing

umpalumpa

was for the basic 350 at $38k. the lease was for the same 3yrs 45k miles. 1000 down(including first month) AND they gave me $1000 check to get out of my last 2 months of previous vehicle's lease (so its a wash technically). pymt $600 per month. so i dont think that youre getting that bad of a deal considering your sticker is 5k more than mine, not the greatest, but certainly not the worst! i got that deal about 6 weeks ago and i thought i did okay, but if i had waited a few months, i could have done better....but my other lease was almost up so i took the plunge.

Morrissey

I don't remember what my money factor was, but my car's sticker was $41,000 and I put down $3000. My lease payment is $568/mo with 12K miles/year. I'm in the same credit tier as you are. I'm not sure if it was a good deal or not....

AsianGirl007

iTrader: (1)

Hmmm.it sounds okay, last I heard IS350's were limited in availability in the New York area. Check with another dealer maybe? There's a guy on here who works at Lexus of Manhattan, D-MAN63, Andy. Pm him and see what he says.

meteoro

The price is a bit high. The MSRP for the I350 and the sport package is 38,644. Are you adding anything else?
The best deal I have gotten is $555 a month, zero down, 15/year, for 48 months, that is with tier 1 credit score. The can had to be special ordered though, none in stock.

eleven24

I'm shopping for an IS as well and asked the dealer yesterday what the MF and Residual are on the "December to Remember" lease program, which runs until Jan 6. For an IS he told me the MF is .00275 with a residual of 62% (This was at a dealer in North Jersey).

If you apply those numbers to your MSRP & downpayment, I calculate a monthly payment of $572.94. This uses the NY tax of 8.63%, & the pmt breaks down to be a base payment of $527.43 and tax of $45.51.

I believe dealers are allowed to "pad" the money factor, which it looks like this dealer may be doing since the rates are standard from Lexus Financial. If that is the case, it looks like your dealer is setting your base payment at $551.40, or $23.97 more per month excluding tax.

The first thing I would do is ask your dealer what Money Factor and Residual % they are using to calculate your lease. If they are the same as mine, they are doing something with the payment.

If you have a PDA, do a search for "Lease calculator". It comes in very handy at the dealership. Also, check out leasewizard.com.

Kermee

iTrader: (1)

Wanted to note something I found out the other day after much research.

The Lexus "Lease Calculator" does NOT report the correct leasing rates for some markets, even with the correct ZIP code. I've verified that the BEST leasing rate you can get in the Washington State market from LFS/TMC is 0.00340 during the event (FICO or Experian Beacon Auto 5.0 score above 730). So if you're in a market where there's high-volume/high-competition (e.g. California), that's where you'll see the 0.00245 and 0.00255 numbers for the top tier leasing rate.

For most people doing a lease on an IS (36 months/15K mi year), the variance betwen 340 and 245 points accounts to about a $2K different for the life of the lease. Leasing rates vary from market to market so it might be hard to consider what's a good deal or not without asking the Lexus finance guy:

#1. Who's actually underwriting the lease? (It's not always LFS/TMC, it could be a third-party that dealership goes through).
#2. What's the money factor for people in the top tier?

$2K might put some people on the fence and ordering a car out of state and having it shipped (i.e. CA to WA) and eat the shipping costs, plus in some of the high-competition areas, you're also more likely to get a discount off MSRP, even on the IS's.

Cheers,
Kermee