LFA Leasing Details for the US
02-24-10, 04:30 PM
#18
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S2000, I have a question. If you want to buy the car after the lease deal ends, do you pay the full MSRP for the car, or do you only add the remainder to what the total amount for the lease was in order to get to the MSRP price?
Based on the information you have posted, it sounds like you would pay the remainder at the end of the lease deal, as opposed to paying the full MSRP at the end of the lease in addition to what you would have already paid for the lease.
Based on the information you have posted, it sounds like you would pay the remainder at the end of the lease deal, as opposed to paying the full MSRP at the end of the lease in addition to what you would have already paid for the lease.
02-24-10, 04:42 PM
#19
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I think this is a bogus lease term!!! It does not make any sense at all.
02-24-10, 04:44 PM
#20
Lexus Champion
MSRP:
$375,000
Term:
24 months
Monthly Payment x 24 = 1Pay Amount:
$12,398.44 x 24 = $297,562.56
Residual Value:
$93,750
Is there something wrong with these numbers?
At the end of the 2yr lease, you paid almost $300K for a car that if you were to buy, it ONLY costs $375K...
$375,000
Term:
24 months
Monthly Payment x 24 = 1Pay Amount:
$12,398.44 x 24 = $297,562.56
Residual Value:
$93,750
Is there something wrong with these numbers?
At the end of the 2yr lease, you paid almost $300K for a car that if you were to buy, it ONLY costs $375K...
02-24-10, 04:49 PM
#21
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02-24-10, 04:57 PM
#23
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Maybe they are not supposed to make sense. I mean the lease is really only to prevent "Flippers" and speculators.
Surely most in line that lease it will of course buy it.
Just a thought
Autotrader in 2 years for us
Surely most in line that lease it will of course buy it.
Just a thought
02-24-10, 05:30 PM
#24
Lexus Test Driver
It is a new car purchase structured as a lease with option to buy. No sane person would accept the lease conditions without intending to exercise the option and purchase the car. Lexus is only structuring it this way to prevent speculators from immediately flipping the car. The concept truly is not complex, people.
02-24-10, 05:43 PM
#26
Pole Position
Thread Starter
TRDFantasy,
The lease numbers are provided for framework exmple of the actual deal.
The interest rate was not communicated and it looks like it will be based on credit score (pretty funny).
The residual should be based first on the price of the LFA as optioned, the fees, registrations costs and the interest expenses. I do not think a depreciation factor will be used.
When I was in Miami for the private driving event, they mentioned that they wanted the buyers to have about $300K into the deal at delivery.
Another interesting bit is the 3 configurations. They all cost the same.
Take your pick of
1)The track version, no nav or ML
2) My version to avoid the sat radio tumor, nav and ML but no GM XM
3) The I want to pay effin GM for a subscription version, nav and ML and GM XM
The over miles cost is boiler plate. It even has a typo. Unless they meant to charge 0.2 pennies for each extra mile. That would only apply if you returned the car at the end. No one is going to do that.
The lease numbers are provided for framework exmple of the actual deal.
The interest rate was not communicated and it looks like it will be based on credit score (pretty funny).
The residual should be based first on the price of the LFA as optioned, the fees, registrations costs and the interest expenses. I do not think a depreciation factor will be used.
When I was in Miami for the private driving event, they mentioned that they wanted the buyers to have about $300K into the deal at delivery.
Another interesting bit is the 3 configurations. They all cost the same.
Take your pick of
1)The track version, no nav or ML
2) My version to avoid the sat radio tumor, nav and ML but no GM XM
3) The I want to pay effin GM for a subscription version, nav and ML and GM XM
The over miles cost is boiler plate. It even has a typo. Unless they meant to charge 0.2 pennies for each extra mile. That would only apply if you returned the car at the end. No one is going to do that.
02-24-10, 06:04 PM
#27
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02-24-10, 07:08 PM
#28
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that I understand. What I am afraid is that at the end of the lease, Lexus changes its mind and take the car back? May be I am just being too paranoid
Yes, thanks for the correction. I was speaking only for the US program since that is the only one I have first-hand knowledge for.
The buy option would be for the residual value. The last time I spoke to Lexus reps, they indicated that there would be a 2-payment option available (i.e., full down payment of approximately 75%, plus option to buy payment at conclusion of lease), which S2000toIS350 is basically posting about in his OP.
It is a new car purchase structured as a lease with option to buy. No sane person would accept the lease conditions without intending to exercise the option and purchase the car. Lexus is only structuring it this way to prevent speculators from immediately flipping the car. The concept truly is not complex, people.
The buy option would be for the residual value. The last time I spoke to Lexus reps, they indicated that there would be a 2-payment option available (i.e., full down payment of approximately 75%, plus option to buy payment at conclusion of lease), which S2000toIS350 is basically posting about in his OP.
It is a new car purchase structured as a lease with option to buy. No sane person would accept the lease conditions without intending to exercise the option and purchase the car. Lexus is only structuring it this way to prevent speculators from immediately flipping the car. The concept truly is not complex, people.
02-24-10, 07:15 PM
#29
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Thanks for the info gengar and S2000, everything makes sense now 
.
Really the lease then should be no problem for North American owners, compared to European or Japanese owners who can simply buy the car. If the lease is simply a one lump sum sort of deal, and you simply pay residual at the end of the lease to buy it, sounds fine to me.
.Really the lease then should be no problem for North American owners, compared to European or Japanese owners who can simply buy the car. If the lease is simply a one lump sum sort of deal, and you simply pay residual at the end of the lease to buy it, sounds fine to me.
02-24-10, 07:57 PM
#30
Pole Position
Is there something wrong with these numbers?
At the end of the 2yr lease, you paid almost $300K for a car that if you were to buy, it ONLY costs $375K...[/B]
Check out these payments!!!
1) Ferrari Enzo: $7595
2) Bentley Continental GT: $2159
3) Ferrari 575 Maranello: $3350
4) Porsche Carrera GT: $6295
5) Mercedes-Benz SLR McLaren: $6250
6) Ford GT: $1865
7) Rolls-Royce Phantom: $4950
8) Lamborghini Murcielago: $3895
9) Aston Martin Vanquish: $2219
10) Maserati Quattroporte: $1639
At the end of the 2yr lease, you paid almost $300K for a car that if you were to buy, it ONLY costs $375K...[/B]
Check out these payments!!!
1) Ferrari Enzo: $7595
2) Bentley Continental GT: $2159
3) Ferrari 575 Maranello: $3350
4) Porsche Carrera GT: $6295
5) Mercedes-Benz SLR McLaren: $6250
6) Ford GT: $1865
7) Rolls-Royce Phantom: $4950
8) Lamborghini Murcielago: $3895
9) Aston Martin Vanquish: $2219
10) Maserati Quattroporte: $1639
Vehicle Status: New
Tax Rate (i.e. 8.25) 8.25%
MSRP: $375,000.00
Purchase Price: $375,000.00
Cap Reduction (Down Payment): 0
minimum is: $0.00
Cap Reduction Tax
First payment + deposit : $25,110.34
Total Down : $25,110.34
Term of Lease: 24 months
Credit Rating: A Credit
Residual Price: $168,750.00
Monthly Payment: $$11598.31
Keep in mind this is with a pretty high residual and a "down payment" per se, so in actuality, this Lexus "lease" is as competitive (if not better) than those typical for the exotic industry.