A potential LFA buyer lessee has leaked the lease pricing for the car to the guys over at Autoblog, and as expected, it’s going to cost quite a lot, to say the least.
Now, the lease option might’ve made you excited. After all, you couldn’t afford to buy, but the lease option should be much cheaper. Well think again. Leasing the LFA will cost you $12,398.44 a month for 24 months. That adds up to $297,562.56 worth of lease payments over 24 months. Yeah, not really cheap if we’re honest. At the end of the lease, lessees can pay $93,750 to purchase the car.
However, even if you have the money, there are still more obstacles to get around. First off, Lexus has to choose you to lease an LFA. You can’t just walk in to your local dealership and ask for one. All chosen people will be notified between March and June 2010. If you’re chosen, you have ten business days to head to your local Lexus dealership and deposit $10,000. Then you have to pass a credit check. If you pass it, you have put down another deposit of $50,000. Immediately before delivery, the customer has to pass another credit check. Oh, and keep in mind that because of the limited production of 500 units, not all people will be able to purchase one. You’ll have to get a move on if you want one.
Once you’ve passed all that, the biggest cost of the whole process steps in. Remember that $12,398.44 per month figure earlier? Yeah, you have to pay for all 24 months up front (Excluding the $60,000 paid in deposits) thanks to Lexus’ 1Pay Lease Program. So that’s $237,562.56. Lexus claims that this one time payment will be cheaper than if you were to make payments every month, and they’re probably right. Nonetheless, it just makes it even more out of reach for the general public, although I suspect that’s the purpose. After all, they stated a while back that they only want the classiest of people driving their LFAs.
We’re not done yet however. There’s also a $700 acquisition fee, tax, license, title and registration fees, insurance coverage and a 15,000 mile per year mileage limit. If you exceed that limit, you’re charged $0.20 per extra mile. Also, the vehicle will be inspected for excessive wear, and if anything is found, the lessee has to pay to get it repaired.
Despite being a lease though, lessees can customize their car with a choice of colours, configurations, interior materials and optional extras. To add insult to injury though, many of these customizations will cost you extra money. For example, leather stitching in a choice of nine custom colours costs $1,000, polished wheels costs $2,500, and if you want it painted in matte black, which I personally would, prepare to cough up a whopping $20,000.
Long story short: The Lexus LFA is ridiculously expensive. You can read more details on the lease, as well as the option extras, below.
Pricing Announcement
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.
Source: Autoblog
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