TORRANCE, California — Lexus confirmed Monday that it will only lease its new LFA supercar to customers in the U.S. and Canada, with a provision to buy the car at the end of the two-year lease.
On the official LFA Web site, Lexus said it was "targeting to offer the base LFA" at 37.5 million yen — around $420,000 at current exchange rates — with any customization charges added to the price.
Lexus began accepting "purchase applications" in October. LFA production begins in December 2010 at Toyota's Motomachi plant in Japan. Cars will be hand-built at the rate of 20 per month for 25 months, with total production limited to 500 cars.
A Lexus spokesman told Inside Line only 150 cars will be coming to the U.S. Previously, Lexus said only 10 LFAs will be available to Canadian customers. Lexus will only be offering the lease-only program in North America.
In an interview with Automotive News, Lexus executive Brian Smith said no LFA will be built until it is ordered.
A story on the Canadian site wheels.ca said the LFA lease deal could cost up to $10,000 a month, including interest, taxes and a hefty insurance premium. Lessees will have a purchase option at the end of the lease.
The wheels.ca story said the lease deal was intended to squelch speculators. It quoted Toyota Canada spokesperson Sandy Di Felice as saying, "What happens with hot new supercars like the LFA is that brokers will purchase them and flip them on Web sites like eBay. You don't want the brand devalued because people are playing silly buggers."
Inside Line says: Does that make a person who is willing to spend $10,000 a month on a lease car the real "silly bugger"? — Paul Lienert, Correspondent
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koukir32 says:
11:25 AM, 05/12/2010
I think the reason behind this manditory lease terms is to prevent brokers from flipping these rare and amazing LFA. And whats better way to deter them then doing double credit checks and long waits? Hence making those people who actually wants the car gets the car first. And I see lots of Toyota haters here..... LOL...... but guess what guys hate all you want. All 500 allocations were sold out. Thats right. 2yrs wait and order still pours in. And last I recalled Toyota still number 1 in the world.
wjtinatl says:
02:16 PM, 01/26/2010
Uhhh, no thanks. I could buy a 2010 911 Turbo for the price of 14 "lease" payments. I could leave the Lexus in the dust today and 2 years from now when I own a car and the "renter" is asking for a ride back from the dealer after turning in his/her lease. Plus... it looks like the last generation Celica GT-S from 10 years ago!
tourian says:
01:19 PM, 01/26/2010
If I leased a car, any car, today and tomorrow (or a week, or a month, or a year later) I decide to trade it in. I can do it. All the dealer does is call the leasing company and ask for a payoff. I get my new car, after getting my teeth kicked in on negative equity rolled into my new lease or loan, and the dealer where I traded it keeps the car I had - that is if they don't choose to pay off the lease instead and return it to the leasing company.
So is Lexus going to deny offering a payoff to someone who wants out? Is that even legal?
lexusaddict says:
08:25 PM, 11/23/2009
this is ironic, i just remembered leasing means monthly payments...on a 400K car...in two years...why not let them give half the money so its around 5K a month? or less? hate to say it, but i have to create another new system: irony. IRONY6
toyotapowerx says:
05:33 PM, 11/23/2009
Wow I can't believe this. The LF-A's leasing program is crazier than the actual cost of the car. Dam...Even if I was a millionaire, I still wouldn't be able to own the car.
firstclass says:
11:50 AM, 11/23/2009
Also, how many people are going to destroy the car while it's still on the lease?
firstclass says:
11:43 AM, 11/23/2009
Demand is demand... if someone is willing to buy it for over retail price on eBay I don't see how that "devalues the brand".?. Making a horrible car would devalue the brand. This car has everything but looks. If people are flipping the cars to make a profit I'd say welcome to the free market. You made something worth more than the price you put on it.