Lexus USA has formally announced the LFA’s base price of $375,000, and has revealed additional information regarding the LFA two-year lease and purchase process in North America:
All LFAs will be hand-built to customer specifications and production will begin December 2010. Customers will be able to choose from three-configurations included in the base MSRP:
- Configuration 1 – Leather or Alcantara®-trimmed seats.
- Configuration 2 – Leather or Alcantara-trimmed seats, Lexus Navigation System and Mark Levinson Premium Surround Sound system.
- Configuration 3 – Leather or Alcantara-trimmed seats, Lexus Navigation System, Mark Levinson Premium Surround Sound system, and Lexus Enform™ with Safety Connect™.
Customers will be able to customize the LFA with 30 exterior colors, six brake caliper colors, and 12 interior colors. Some choices carry an additional cost.
As previously reported, buyers in the United States and Canada must lease the LFA for two years before they can purchase it—this is a measure meant to thwart speculators from acquiring the car only to sell it at higher price shortly thereafter. The global sales window for placing LFA orders reportedly closes at the end of this month’s Geneva Auto Show.
As detailed above, the customization process allows initial lease customers to have their LFA built to their specification, with the expectation that they will acquire full ownership after 2 years. Numerous automotive media reports have presented inaccurate information about this process: it is not all 500 LFAs that will be leased, rather only the 150 in the US and 10 in Canada; nor will LFA enthusiasts be limited to just 2 years of lease time with the vehicle, they will be able to purchase it fully.
On top of this official information from Lexus, a prospective LFA buyer on ClubLexus also revealed more detailed packaging information regarding the LFA lease and purchase process, including the payment process and list of factory options—full details are after the jump.
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*
- 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.
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?
Special reduced lease rate will apply. 24 monthly payments are calculated and collected in one lump sum (1PAY) at lease inception. 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
- Configuration 1: Leather or Alcantara Seats & 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 ; X M Satellite Radio, XM NavTraffic, XM NavWeather, and XM Sports & Stocks (includes 2 years of Telematics subscription fees)
Exterior Colors
- 10 Basic Colors: MSRP
- 12 Solid Colors*: No Cost
- 7 Metallic Colors*: $3,000
- 1 Matte Color: $20,000
- Custom Colors: TBD
Wheels
- Painted: No Cost
- IS F Finish (Dark Graphite): No Cost
- Polished: $2,500
Brake Caliper Colors
- Black, Red: No Cost
- Yellow, 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): $2,500
- Seat Back ( 9 special colors): $2,500
- 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 yellow): No Cost
- Metallic Ornamentation (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 be available for LFAs produced from December 2011.
[Source: ClubLexus]