Home / Auto News / News article: Lexus LFA Monthly Lease Set at $12,398 for 24 Months, With All Payments Due Up Front - AutoGuide.com News
 |  Mar 18 2010, 7:01 AM

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With all the time, energy and resources used in building the Lexus LFA supercar, it seems the Japanese automaker might not be all that interested in anyone driving the vehicle as they’ve made it prohibitively difficult to get into. It’s not the cost that might keep people away ($375,000 being a rather reasonable price for a full carbon chassis exotic with a high-revving V10), but rather the complex process Lexus has devised by which potential “owners” have to jump through hoops to get into an LFA. And lets not forget, that 24 months later, the car goes back to Lexus – because it’s just a lease after all.

So what’s an LFA cost to lease each month? How about a staggering $12,398.44. And if you thought the whole idea behind a lease was to make a car more affordable, forget it. Lexus wants all that cash up front – a total of $237,562.56. But it’s not that simple. First Lexus has to actually choose you, after which you will be notified and then drop off a $10,000 deposit while Lexus checks your credit. then Lexus wants an additional $50,000 lump sum deposit.

Once the car has been built specifically for you (which is likely to take a while) candidates will have to then undergo a second credit check before handing over the $237,562.56, bringing the total to $297,562.56.

Now if there is some good news in here, it’s that Lexus will actually sell the LFA to leases at the end of the 24 months, for the residual value of $93,750.

What’s the purpose off all this nonsense? Well, Lexus devised this plan to weed out speculators who might try and buy an LFA in order to resell it at a higher value. Unfortunately for Lexus, they might have weeded out quite a few folks who really want the car but just don’t have the desire to participate in a lengthy series of payment, credit check, payment, credit check, payment, payment. And on top of all this, when you add the total lease price to the residual value, the number is actually $391,312.56 – or roughly $16,000 more than the MSRP. Plus Lexus will actually make you pay a $700 acquisition fee and then there’s those pesky taxes.

Is it worth it to own the first Lexus supercar? That’s still up in the air. The LFA has all the potential to be a world-class exotic, with its V10 engine and carbon fiber monocoque chassis, but can the notoriously dull Lexus brand build a full-fledged exotic?

Official release after the jump:

PRESS RELEASE

Lexus LFA Pricing Announcement

Lexus is pleased to announce the launch of the LFA, Lexus’ first ever supercar that delivers world-class design, performance, and cutting edge technology.

A Race Car that is Street Legal A radical departure from standard Lexus development, a band of engineers approached the LFA from a non-traditional angle, pushing their technological, material, and engineering boundaries every step of the way. The result, a tour de force powered by a 4.8L V10 engine that generates 552 hp and a remarkable 9,000rpm redline. Reaching 60 mph in 3.6 seconds with a top speed over 200 mph = Super High Performance! This race-inspired power plant is mated to a uniquely developed six-speed Automated Sequential Gearbox (ASG) with paddle shifters for ultimate driver control.

Weight-saving measures were implemented in every area in the development process. The LFA features advanced Carbon Fiber Reinforced Plastic (CFRP) construction for its chassis and much of its bodywork to deliver a light, extremely strong, and impact-resistant structure. It also has carbon ceramic brake discs, and a host of other technological marvels.
Production and Pricing Start of production will begin December 2010. Consumers will be able to choose from three configurations at the Base MSRP price of $375,000.

⇒ Configuration 1
Leather or Alcantara seats and trim in three standard colors
⇒ Configuration 2
Configuration 1 plus Navigation & Mark Levinson
⇒ Configuration 3
Configuration 2 plus Lexus Enform™ with Safety Connect™, which provides Destination Assist, eDestination, Automatic Collision Notification, Stolen Vehicle Location and Enhanced Roadside Assistance; Lexus Insider™; Voice Command; XM® Satellite Radio, XM NavTraffic®, XM NavWeather™ and XM® Sports & Stocks (includes 2 years of XM & Telematics subscription fees).

Consumers will have a tremendous amount of customization opportunity with each LFA thanks to: Exterior
10 Standard Exterior colors that may be chosen at no additional cost
20 Special Exterior colors (Note: These require additional lead-time for the order/production cycle)
3 Wheel finishes*

1.⇒ 6 Brake Caliper colors*
Interior
3 Standard Interior colors in Leather or Alcantara
9 leather colors and 7 Alcantara colors*
An interior divided into multiple zones, each customizable by several colors, down to the stitching itself

*Please note: Some customization selections have additional costs. Please see Appendix for detailed information
Customer Notification

Customers will be notified within a March – June 2010 timeframe of their opportunity to order a Lexus LFA. Due to the limited production of the Lexus LFA of 500 cars globally, and customer response which has exceeded the number of available cars, it is possible that not all customers who expressed interest will have an opportunity to order a Lexus LFA.

Once customers are notified of their opportunity to order a car, they will have 10 business days to place a $10,000 deposit with, and submit a credit screening form to, their dealer. A customer must obtain credit approval in order to remain eligible to order an LFA. If the customer’s credit has not been approved, the customer will not have the opportunity to order an LFA.

Once credit is approved, the customer will deposit an additional $50,000 with their selected dealer at the time they place the order for their car. A second credit approval immediately prior to the scheduled delivery date must also be obtained in order for the customer to take delivery of the LFA.

If you have any questions about the notification and/or ordering process, please contact [REDACTED].
LFA Lease Program is through Lexus dealer and Lexus Financial Services

All LFAs will be available only through a 1Pay 24 month lease via your Lexus dealer and Lexus Financial Services (LFS). You will have the option to purchase the Lexus LFA at lease maturity.

1Pay Lease Program for 24 months The LFA 1Pay Lease program is structured for you to prepay all monthly payments in a single payment at lease signing. In general, this single total lease payment is less than the amount you would pay over the life of a conventional lease.

How will the 1PAY lease work?

¾ Special reduced lease rate will apply.
¾ 24 monthly payments are calculated and collected in one lump sum (1PAY) at lease
inception. ¾ Any deposits made on the LFA will be applied to the 1PAY amount due
What will payments look like on a 1PAY lease?
Example:
MSRP:
$375,000
Term:
24 months
Monthly Payment x 24 = 1Pay Amount:
$12,398.44 x 24 = $297,562.56
Residual Value:
$93,750

Notes:

Rates used to calculate payments are for example purposes only and are subject to change and will vary depending on final price of the vehicle and credit qualification.

Lease payments do not include acquisition fee, sales tax, license, or title & registration fees.

A $700 acquisition fee is due at lease signing. A security deposit is not required.

The lease example above assumes a mileage limit of 15,000 miles/year.

LFS Lease FAQs

What is the credit application process?
The credit application process is a two-step process:
Step 1 – Complete a credit application which will be reviewed by your Lexus dealer and LFS at the
time the first deposit of $10,000 is placed with the dealer.
Step 2 – Upon vehicle arrival at the dealership, a second review of your credit prior to delivery of
the LFA.

Is there an acquisition fee due?
Yes, the standard acquisition fee of $700 will be due at lease inception.

Are there any additional fees due at lease signing?
Yes, all sales and/or use tax, license, title and registration fees are collected at lease inception.

How about Insurance coverage?
Customer is responsible to provide insurance coverage information to the dealer at lease
inception and maintain coverage throughout the lease term.

Can customers purchase the vehicle?
Per the terms of the lease agreement, at the end of 24 months (lease maturity), the customers may
purchase their vehicle for the purchase option amount listed on the agreement.

What happens if the customer wants to turn in their vehicle prior to the lease maturity date?
Per the terms of the lease agreement, the vehicle cannot be returned prior to the lease maturity
date.

Is the lease transferable?
No, during the term of the lease, customers will not be able to transfer the lease or vehicle to third
parties. However, in the event of a deceased consumer lessee, the consumer’s estate will have the
option to transfer the lease to a qualified transferee.

Can I lease the vehicle in my business name?
Yes, you can elect to lease the vehicle in your business name.

If the customer does not purchase the vehicle at lease maturity, are they responsible for any
excess mileage, or wear & use charges?
Yes. Per the terms of the lease agreement, any mileage that exceeds the amount listed on the
lease agreement will be assessed a charge of 0.20 cents per mile for each mile that exceeds the
contract limit. In addition, the vehicle will be inspected for excessive wear & use and any resulting
charges are the customer’s responsibility.

APPENDIX

Customers can choose between 3 configurations: All at $375,000 Base MSRP INTERIOR COLORS APPENDIX cont’d
Configuration 1
Leather or Alcantara Seats & Trim in three standard co lors
Configuration 2
Configuration 1 plus Navigatio n & Mark Levinson
Configuration 3
Configuration 2 pl us Lexus Enform with Safety Connect, which p rovi des Destination Assist, eDestination, Automatic Col lision Notification, Stolen Vehicle Location, and Enhanced Roadside Assistance; Lexus Insid er; Voice Command ; X M Satell ite Radio, XM NavTraffic, XM NavWeather, and XM Sp orts & Stocks (includes 2 years of Telematics subscription fees)

Exterior Colors

- 10 Basic Colors
No Cost
- 12 So lid Colors*
$3,000
- 7 Metallic Colors*
$3,0 00
- 1 Matte Color
$20 ,000
- Custo m Co lors
TBD
Wheels

- Painted
No Cost
- IS F Finish (Dark G raphite)
No Cost
- Polished
$2,500
Brake Caliper Colors

- Black, Red
No Cost
- Yello w, Blue, Silver, Gold
$1,000
Interior Colors

- Red, Black, Camel Yellow
No Cost
- Stitching (9 special colors)
$1,000
- Steering Grip (9 special colors)
$1,500
- Seat Front (9 special colors)
$2,50 0
- Seat Back ( 9 special colors)
$2,50 0
- I/P & Door (9 special colors)
$2,500
- Carpet (black, cream , red, camel yellow, blue)
No Cost
- Floor Mats (black, cream, red, camel yellow, blue)
No Cost
- Headliner (black, red, camel yell ow)
No Cost
- Metallic Ornamentatio n (satin silver or blackish brown)
No Cost
Seats & Trim

Alcantara Seats
No Cost
Alcantara Trim
No Cost
Headlamp Washer
$100
Winglets
$200

* Special Selection Colors will only b e available for LFA s produced from December 2011.

  • zeus

    The problem with a fair assessment is the fact that people who write such articles and most people who read\comment do not have the money. A car with bleeding edge technology…and an entusiast for who money is no object will not care about the details. It’s only the ones who cannot afford bitch about the details.