Anyone have any luck in getting a good deal on a Lexus LS 500? The best I’ve received so far for a base ($76k msrp) is $725 month plus $4k upfront for a 36 month/12k miles. So basically $836 month for 12k miles (I assume a 10k yearly mileage would be $15 or so less each month). That’s still higher than the 1 percent rule but I wanted to see how others have fared. I heard you can get good deals on sedans but does that apply to a LS?
You need to know the MF, RV, incentives and approximate discounts dealers are willing to give to see if it can be a good deal or not.
Discounted price: $68k
Money factor: .0008
Residual: 54 percent
Monthly payment: $855 for 36/12
I went to look at the LS500 to see if a deal could be had. I went to one dealer in OC and they told me the posted lease special on the website was their best deal. That was when I made a quick U-turn and bounced out saying that wasn’t going to work for me. (BTW the lease special was at MSRP with no dealer contribution).
I drove the car and didn’t think it was ground-breaking amazing.
No national deals on the LS500 still. The attached lease offer is at full MSRP minus $5,000 in lease cash. I’m wondering if anyone knows if it can be combined with the $3,000 “acquisition cash,” which is basically competitive cash if you own specified vehicles. If the offers can be combined, along with a healthy discount, the LS500 could move into pretty decent leasing territory if the residual and MF supports it. Anyone with any info on this?
Hey ! i’ve been monitoring the lease deals on an LS. Right now I was offered the following:
690 @ month
7k out of pocket
42 month lease
10k miles @ yr
Is this a good deal?
Hi Jon, what are some question i can ask my dealer via email to see if its a good deal or not?
That’s a terrible way to structure a lease deal. Why would you pay so much upfront? If the MSRP is under $85k, it’s not a good deal.
yes MSRP 79K. I thought putting money down to lower my payment… Whats a better approach?
would love to hear different strategies…
Read up on the basics of leasing.
Divide your down payment by the lease term and add it to the monthly cost to get your actual payment. If you put enough money down on anything you can get a low monthly, but that still masks the actual total cost of the lease.
In your example (assuming all $7k was down payment), you be paying $856/month for a total cost of $36,000 to lease that car for 42 months.
JLS - get on a lease broker site such as https://www.omegaautogroup.com so you can get an idea of what good negotiated payments would be with zero down. That will give you other ideas of vehicles/prices. If you don’t have the time or the effort to learn a bunch about leasing, you would probably be better off getting a vehicle from a lease broker, regardless of what car you decide to lease. There are several good ones on this site. You might pay $500 more than you could have negotiated on your own, but it will protect you from getting screwed if you pick a reputable broker.
the 7k was all in, including NJ taxes
Well, Omega didn’t even have a teaser listed. The goal on this car is $699 a month with under $1,500 drive-off…
That was an assumption based on incomplete information. The point still stands though. So you don’t get hosed on a deal, make sure you do all the math. The dealerships are really good at structuring deals that might look good if you don’t dig into them a little bit. Protect yourself by getting all of the information. Good luck.
Thank you Billous !