Im hoping on board, please help w/ choosing the LS460
02-01-08, 04:44 PM
#16
i will have this question about the single pay. (knock on wood), if the car is lost or totaled, what's going to happen?
i know that for lease, if you have any down payment, then if the car is totaled, you lose the down payment. the single pay is sort of like a giant down payment so your monthly payment is 0?
again, i am curious
i know that for lease, if you have any down payment, then if the car is totaled, you lose the down payment. the single pay is sort of like a giant down payment so your monthly payment is 0?
again, i am curious
02-01-08, 04:49 PM
#18
What are the thoughts in here on a single pay lease? I usually plop down the cash when I buy our cars, but my wife bought a new RX350 in Dec and we ended up going with the single pay lease. The only reason I bring this up is because I'm considering going that route on my 08 LS460 purchase. The single pay would be about $41,000 for a 3 year deal w/ 15K miles. I'm not sure yet what the buy back would be at the end of that period, but, just wondering about thoughts on such a lease. Thanks.....
From a purely financial standpoint, leasing will always cost you more than buying (although I've read that MB is giving their cars away if you lease), but if you only intend to keep the car 1 or 2 years, leasing can be the way to go.
02-01-08, 05:27 PM
#20
Well....as for being lost or totalled, we do have car insurance on it (required to do so) so I would think that would take care of that, but I will call to make sure they (insurance company) know it is a leased vehicle (wife's car) and to clarify in my mind.
As for the financial standpoint, if I take the amount I didn't have to put down and could earn 4.89% per year, that would equal the amount of the "residual value" (the amount it will cost me to buy the car if I want to at the end of 3 years). If I don't want to buy it, then I simply turn it in. The smarter thing would be to find a buyer at an amount higher than the residual value (which is likely), buy it from Lexus, and sell it for an amount higher than that residual value. Did that make sense?
Again, this was a first for us and will consider it for my LS.
As for the financial standpoint, if I take the amount I didn't have to put down and could earn 4.89% per year, that would equal the amount of the "residual value" (the amount it will cost me to buy the car if I want to at the end of 3 years). If I don't want to buy it, then I simply turn it in. The smarter thing would be to find a buyer at an amount higher than the residual value (which is likely), buy it from Lexus, and sell it for an amount higher than that residual value. Did that make sense?
Again, this was a first for us and will consider it for my LS.
02-01-08, 05:56 PM
#21
yes, definitely check with insurance. my friend leased a car, paid bunch of down, and 2 months into the lease he totaled the car. insurance company "paid off" the car for him to the dealership basically (the buy out price) and he lost all his down payment (plus the 2 months payments).
02-01-08, 07:18 PM
#22
That's why they tell you to never put any money down on a lease. Rather what you should do is put multiple security deposits (I think most states allow up to 9) since they are fully refundable.
02-01-08, 09:18 PM
#23
Pole Position
Thread Starter
hahaha, i wish! i really like the L only b/c of the air suspension but the SWB would be better for me since its shorter. it doesnt look so big to me. and of course the SWB is less money 
I am still debating on the wheels though, love the 22's but i need protection.
I am still debating on the wheels though, love the 22's but i need protection.
02-01-08, 09:30 PM
#24
Super Moderator
You don't need 22's for a SWB. I myself prefer the looks of 21's(for wheels with prominent lips) even for LWB.
I think 20's will look fine with a SWB. Of course that depends on the design of the wheels too.
I think 20's will look fine with a SWB. Of course that depends on the design of the wheels too.
02-01-08, 10:01 PM
#28
Super Moderator
I just saw in a dealership a couple weeks ago a set of 20" 5-spoke wheels with no lips on a LS460L & they look big to me. I initially thought they are at least 21's, until I looked at the tires.
