Pocketlint

Try plugging your numbers into this calculator. I like it for its ease of use and clear breakdown of costs.

http://www.leaseguide.com/calc.htm

I think the Tier 1+ money factor is .00245 and the residual is still 62% right now, but I might be a few weeks behind on those figures.

krs71

I tried that, with money factor of .00289 to get the high end, but I realized that the residual is 13-15K, but the Finance (rent) charge is like 6-7K...........that is crazy......and it brings the "total" 20-23K. Am I wrong to say that even if you finance 20K, it's around 400-450 a month probably on a 60 month payment plan. So that's why they want 550+ for the 36 months...........

mcfly

20,000 @ 6% for 60months = $386/month. But of course you'd have to put about $15-20k down to get there.

krs71

I guess what kills me is I'm paying 6k interest on a 14K loan for 36 months..........I paid less on my 30K loan for my bmw @ 60 months. So basically I'm paying 6K for the whole car dollar amount not on my usage...........

mcfly

Pick your poison. Personally, I can't lease my cars because I put too many miles on them. And I refuse to take a car loan for more than $18k (it's an arbitrary number I arrived at based on the price of my first new car ).

So I'm putting down about $20k between cash + trade on mine.

krs71

true.....but isn't it highway robbery for lexus to charge interest on the MSRP of the vehicle when you only used it for 3 years and depreciated only by 14K, when in reality they should only be charging you interest for the usage of the vehicle. For me, this would be a company right off..........but I'm looking for the best deal.

Kermee

iTrader: (1)

I'm not sure if you understand how leases work after going back and re-reading your comments. Your lease payments are based off of many factors, including the money factor (rent charges), the depreciation fee and the residual which you quote your findings, but I'm not sure if you fully understand.

Seriously, you need to reconsider what you want before you jump into a mistake you might regret. I'm not trying to be a jerk, but there's plenty of red flags I'm seeing in your posts which makes me think you need to rethink if you even want to lease and instead finance the vehicle.

Also, you're comparing payments of a 30K/60 month loan to a vehicle that's 33% more expensive. Just remember that leasing a vehicle may get you the lower-payments, but you need to set your expectations that unless part of your lease is a write-off for a business, like I and several others here are doing, you end up paying a premium in the end which may not present itself until later.

Cheers,
Kermee

krs71

Kermee, your right, I'm trying to understand what all is involved with lease, and with all the people who have responded to this thread has given me information that I didn't know. I'm just wondering how any automaker can get away with charging that much interest for only using it for 36 months..........

mcfly

The automaker doesn't. The leasing company does.

krs71

True.....but the automaker does have it's own internal leasing company............

krs71

so at the end of the lease you end up paying ex: 22K and if you want to buy the car, it's 24K so you just paid 46K for a 37K dollar car............talk about a rip off.........

krs71

ok......so the dealer called me this evening wanting to put a deposit down on the vehicle coming and reserving it for myself. Anyone have any comments on frost glacier mica color....it's much appreciated. Ok back to my point, I told listen man, don't worry about it, go ahead and sell it to the next guy who wants it because I don't feel it's worth the extra 6K in finance charges on the vehicle payment, so he told me to hold on, which he get's his finance guy. So that guy gets on the phone and I asked basically everything I stated here. Do I pay finance charges on the depreciation of the vehicle with comes to 13 and change or the MSRP. He said you take the negoitiated price - residual value ( 37900-24) = 13900, so then he'll check the monthly rates on money factor and x the difference. So now the question comes why he quoted me 565, when in reality I should be around 400-450.............so we'll see what happens, he's really pushing me to put a deposit down, does that do something for there books if I do it this SAT? that's when I plan to go there.

Kermee

iTrader: (1)

Yeah. Something doesn't quite add up. If you're still going the leasing route, keep us updated so we can double-check the #'s the dealership is giving you.

Just to give you an idea how much TMCC/LFS can get away with right now with the IS, and why some people are waiting to get an IS later rather than now:

2006 IS 250/350 (applicable per market):

Tier 1: 0.00255
Tier 1+: 0.00245
Some dealerships (including Longo) claim they can do 0.00235 through TMCC/LFS.

2006 ES 330 (applicable per market):

Tier 1: 0.00140
Tier 1+: 0.00130

ES 330 lease rates are 115 POINTS below the IS 250/350 lease rates. The "rent charge" on the IS is almost doubled that of an ES 330. Tier 1+ (Basically, FICO/Beacon over 730+), you get a 10 point lower lease rate than Tier 1 and no requirement for a security deposit. You only need to pay lease inception fees, registration, first month's payment, etc.

The ES 330 leasing rates are over 100 points lower than an IS. Now you wonder why some people skipped the IS when leasing. My friend just leased a 2006 BMW 330i, fully loaded 36 months/15Kmi, (Tier 1) with a money factor of 0.00098. That's 2.5 times LOWER than Tier 1+ IS lease rates and 32 points below the ES 330.

Hope this puts IS leasing in perspective.

Cheers,
Kermee

EDIT: Realize I'm not trying to talk you out of leasing. I'm just hopefully explaining why it seems the IS is so expensive to lease. That is... because it is.

Bichon

Surely you jest. There is already like five pages of comments on that color here: https://www.clublexus.com/forums/sho...d.php?t=188836 and here: https://www.clublexus.com/forums/sho...d.php?t=197004

I like crystal white, but I'm biased.

He wants your deposit because it's less likely some other dealer will call you and steal the sale.
On the other hand, putting down a deposit insures that they don't sell the car out from under you.

shaolin

iTrader: (2)

i don't think it's a good idea to buy the 250awd cuz right now it seems like it has quite few problems here and there!!!