luxmax

Hello Community!
I am currently an Acura TLS driver looking to lease a used LS460. I visited my local dealerships and received an offer I would like to go over with. I think I might be over charged however your second professional advices would help! Thank you for your kind attention,

Here are the details:

2007 Lexus LS460 Certified Pre-Owned from Lexus Dealer
LEASE:
MSRP: $73,000
Miles: 17,200
Selling Price: $42,995
Residual: $25,885
Down payment: $5,000
Payment: $583.71 with Tax 6% included
Term: 36 Months
15,000 a year

Thank you so much!

Silverpaws

Think this is a really good deal....for the dealer. Have you tried negotiating? The substantial down payment especially appears excessive. Does the car have Navigation, Mark Levinson, etc.?

G2Lexus

Negotiate a high $30's drive-out price, put your $5,000 down and finance the balance for as short of term as you can afford. Then you own the car instead of having to give it back in 3 years to start over. Gives you options.

bigblack06

iTrader: (20)

Yeah I agree with above you should try to purchase cause that deal sounds like the dealer is gonna make a good deal not you!

Flapjack1

Same here, buy it out right and don't throw your money away on a lease (insurance cost more anyway on a leased vehicle and it is not even yours).

rominl

iTrader: (4)

yeah, buy it. leasing a used car doesn't make much sense imho

luxmax

I am only interested in leasing the car not financing therefore I want to know if you guys think thats a good lease deal? Thank you!

OSU

Not a good deal. Why lease a used car? If you're going to lease a car, it should atleast be new.

Nospinzone

Not meaning to pile on, but you're not listening. Like everyone else is telling you, it's not a good lease deal. Buy it or forget it.

Kalel

Just a few thoughts. Since you are leasing the car, the very low miles probably mean little to you.

$42,995 x 106% (tax) = $45,574

$5000 + (583 x 36) = $25,988

In three years you will have paid about 26k of 46k. LS has one of the highest resale values in the automotive industry. I know you have stated that you do not want to purchase, but when I look at these numbers, it seems you would come out way ahead to purchase with a 5 year loan (I believe lexus is offer 2.9%) and sell at three, rather than lease.

In terms of a straight lease and not considering a purchase, I don't think it is a particularly good deal and I think you could find one with a smaller down and slightly lower monthly payments.

I do not know this particular cars options, but given the MSRP of 73k, it should not really have the premium options, so the 43k price seems a bit steep to me.

Silverpaws

An MSRP of 73k for 2007 should have both Nav and ML.

randomwalk

Have your transmission gone Ka-Boom lately? Ex-Acura TL owner here.

luxmax

The dealer gave me a lower monthly payment which I signed to of $548 for 36 months with all the same terms above. Did I get a good deal now? Thanks

Silverpaws

NO, I am sorry, but NO.

krzyd

I'm sure you will enjoy the car, and the salesguy owes you a "reach around".