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2013 and earlier Lexus RX 350 / RX 450h Lease Questions

CarMan@EdmundsCarMan@Edmunds Posts: 38,515
edited January 29 in Lexus
Hi everyone. Please use the following discussion to post any questions that you have about leasing a Lexus RX 330. Thanks.

Car_man
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Comments

  • tiger93tiger93 Posts: 57
    Hey Car_man -

    Can you look up the current MF and Residual on a 2005 RX 330 with Premium Plus package? Three year lease with both 15k mile and 20k mile is what I'm considering. Also, are these figures different for the 2006 model?

    Thanks!
  • Please like to find out for Sept, Oct andNov., what will be the base rate & MF for the 2005 & 2006 RX330 be? Which is the better deal for leasing 2005 or 2006?Of course including 15Kmi/yr and 20Kmi/yr

    Pls advise.
  • Hi tiger93. Unlike in August, Lexus is not currently providing any sort of lease money factor support on the 2005 RX 330 this month. As a result, if you were to lease one through Lexus Financial Services, you would have to use its standard lease program. I have not seen its new standard lease money factors yet, but I suspect that its buy rate for a standard lease is probably around .00245 give or take .00010 this month. As far as residuals go, if you were to lease a 2005 Lexus RX 330 4WD without the entertainment or navigation systems through LFS right now for 36 months with 15,000 miles per year, its residual value should be 54%. If you need to drive more than 15,000 miles per year, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until lease-end and have to pay an excess mileage penalty. Again there is no lease support on the 2006 version of this truck, but its residual value for an otherwise identical lease is higher at 57%.

    Car_man
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  • Hello mib90024. You can find out what these trucks' lease programs are like right now by reading my previous post. That lease program is currently only scheduled to run through September 30th. It is difficult to say what Lexus October and November lease programs will be like for the RX 330 at this point. As far as which one is a better deal to lease right now, the '05 or '06 model, this depends upon the selling price that you are able to negotiate. All things being equal, namely selling price, a 2006 RX 330 would be less expensive to lease than an '05 model right now because they have the same money factors and the '06 model has higher residual values. If dealers are anxious to clear out their leftover inventory, they may be willing to discount the '05 version enough to make up for the difference in residuals though.

    Car_man
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  • Dear Car_man,

    I am interested in leasing a 2006 Lexus RX 400h with heated seats from a local NJ dealer. The dealer is charging $1700.00 above invoice. The lease that fits me the best is 36 months and 15K/year.

    I want just pay fees plus the first month's payment. I would like the 6% sale tax in the lease payments.

    The dealer claims that Lexus has the best program. The residual, as of August, is 62% and the money factor is not discounted currently (I don't know what it is).

    I would like to spend close to $600/month.

    Please let me know what the present dealer offer is per month and how we can get to $600.

    Here are the details for the Lexus 400H:
    MSRP $49,725 including the $650.00 destination charge
    Selling price $46,040=$1,700 above invoice
    Please let me know what the payment should be for a lease with the new program for September.

    Also do you have the new rates for September for the AWD RX 330?

    Thanks
  • Hi plym_rock. The dealer that you spoke with was telling you the truth. Lexus is not currently providing any sort of lease money factor support on the 2006 RX400h. According to my calculations, if you were to lease a 2006 Lexus RX 400h without the entertainment system with an MSRP of $49,725 and a selling price of $46,040 through Lexus Financial Services right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $604 with the payment of a security deposit and LFS' $600 acquisition fee.

    Car_man
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  • Hello,

    I'm a first time lessee and have been offerred by the Lexus dealership a lease on the 2006 Rx 330 (w/ leather and moonroof) for $553/month and $3000 down. The MSRP is $41110 and the negotiated price is $37575. Their using a money factor of .00285 and a .58 residual (~$23800). 36 months. Any thoughts if this is a good deal or if I should keep negotiating? Also its 12k per year which should be enough for me.
  • Hi Car_man,

    I am currently leasing a 2002 RX 300, whose lease is up in April (39 month lease). I am currently paying $514 with taxes in CA. I put nothing down, get 12k miles per year, I believe the sticker was discounted down to aroun $36k. The car as of right now is in great condition and only has 20k miles on it. I dont have the paperwork with me, so I don't remember the risdual or the money factor at the time of the lease.

    The dealership just contacted me about discussing a future lease. Can I use the fact that the current car has low miles and is in great condition as a bargaining chip to flip the lease as to secure the same lease rate (if not lower) on a new 05/06 RX330?

    I think my buyout on the car is like $26k (should I be considering this, because I might be able to sell it myself for more?). I feel like they are getting a car that is worth far more than that and I would like some incentives based on that fact.
  • HI azhoopsfan. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    You are already off to a good start because you were able to get the dealer that you are working with all of the important information about this deal. The selling price that you were quoted for this truck looks reasonable to me. The money factor that is being used to calculate its lease payment is a little high though. Even though Lexus is not currently providing any sort of lease support on the RX 330, your money factor should be around .00235 to .00245 if your credit is in good shape. Another problem I have with this deal is the large down payment that you are making. I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your insurance company pays off the bank that you were leasing it through and your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your RX 330 would be exactly the same, regardless of whether you had put $3,000 down, or had made absolutely no down payment at all.

    Car_man
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  • Hi highfidelity. It is usually fairly expensive for consumers to get out of their leases well before their scheduled termination dates. The only way to do so is to just pay your remaining payments or to purchase your leased vehicle and sell it on your own or trade it in on another one. The fact that your truck is in good condition and has low miles normally would not do much for you with a lease, but if your truck is in good enough condition that it is worth more on the open market than it would cost to purchase it from the bank that you are leasing it through then you would be able to get out of your current lease early at no cost to you and might even be able to make a buck or two off of your truck. In order to determine whether you should purchase your vehicle, you need to compare its purchase price to its value on the open market at this time. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". One of our most knowledgeable community members, Terry, frequents that discussion and he is often kind enough to give community members who give him an accurate description of their vehicles with his opinion on their value.

    Car_man
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  • Car_man thanks for the response. Would you be able to tell me the money factor and residual for a 2006 RX 330 AWD (sticker $43,200.00) for a 24 and 36 month lease. I'm looking to do 12k miles per year. Thanks!
  • currently - $499 per months, 36 months, $0 down, 12K miles, NYC, RX300 2003 ( Desember 2002), AWD, premium plus package, no navigation...
    Got price for 2005 RX2005, 1 month ago for $41.500. everything inside ...
    Also get offer for $545 per months , 32 months on RX400h , $0 down , 10K miles...
    Somehow, car_men's prices is not compliting with my dealership prices.... :confuse:
  • just finish dealing with Ray Catena in NJ. I think I got a pretty good deal!

    2006 RX330 AWD Flint Mica Prem +, with additional options... 18" wheels, 6-cd, cargo mats, wheel locks, towing prep, heated seat with rain sensor wipers, and bluetooth hands-free for my cell phone (they were able to install the kit without the navigation for $419 <<--- might have been able to get a little less than that)

    $1,000 + invoice ($38,440) = $39,440 + $419 = $39,859 (sale price)

    I am leasing the car for $550/mo tax included for 30 mo, 12k/yr

    Anyone else got a better deal??
  • The money factor my local lexus dealer quoted me today was .00345 (too high for me) for tier one credit and a residual of .56 on a 2006 RX330--all they explained set by LFS. The MSRP was $41143 with a price of $38650 on a 36mo lease with 15000 miles. No way would they even discuss the invoice. Has the money factor changed that much in a few days? Are you talking LFS financing at .00245? This is Dallas area.
  • You're welcome highfidelity. Here is the info that you are looking for. According to the latest information that I have see, if you were to lease a 2006 Lexus RX 330 AWD without the navigation or entertainment systems through Lexus Financial Services right now for 24 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00235 and 65%, respectively assuming that you qualify for its top credit tier and pay a security deposit. The numbers for an otherwise identical 36 month lease should currently be .00235 and 59%.

    Car_man
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  • Thanks for taking the time to share the details of your lease with us, tenchu81.

    Car_man
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  • Hello immeant. A money factor of .00345 is waaaaay too high for a lease of any Lexus through Lexus Financial Services right now. Its Tier 1+ buy rate lease money factor for consumers who pay a security deposit is currently only .00235. To qualify for Tier 1+, you have to have a credit score of 730 or above. Its plain Tier 1 factor is only slightly higher than this, probably around .00245 with the payment of a security deposit. It appears to me as though the dealer that you are working with is trying to mark up your truck's base money factor to add additional back-end profit to your deal. this sort of practice is perfectly legal, but can usually be avoided by confronting the dealer that you are working with with the buy rate for a lease of the model that you want or by shopping around.

    I can calculate a lease payment on the truck that you are interested in for you so that you will have an idea of how much is should cost to lease using the base lease program. According to my calculations, if you were to lease a 2006 Lexus RX 330 without the navigation or entertainment systems with an MSRP of $41,143 and a selling price of $38,650 through Lexus Financial Services right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $569. I used a money factor of .00235 and a residual value of 57% to arrive at this payment.

    Car_man
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  • Hi Carman,

    I am currently leasing a 2004 RX330 started Dec 2003 ends Dec 2006. I'm thinking about purchasing it early then maybe selling. I can't seem to find out what my lease factor is and if the deal was good or not, so I know for my next lease. No navigation, my purchase price was $35,834 including $600 acquisition fee. I live in Southern CA sales tax is 8.25%, I put $2,000 down, 36 month lease 15k miles a year, payments $513.48 per month. My Residual Value at end of lease is $21,705, my current payoff price is $26,766. I guess I have a couple of questions.
    Does it seem like I got a good deal?
    Can you figure out what my lease or money factor is?
    Is it a better deal to purchase it out now than at the end?

    Any answers and input greatly appreciated.

    Thanks
  • Carman,

    Do you know if the lease deals for November on the RX330 from Lexus are better/worse/same as October's? Also, can you give me your best guess of what a good 3 yr & 12Kmi/yr lease would run for a "base" AWD vehicle with an MSRP of 42048?

    Thanks.
  • Hi cindola1. It is difficult for me to say how good a deal that you got on your truck because you leased it so long ago and I don't know what its full MSRP is. If I knew its MSRP, I could at least see how much of a discount you were given on it. Still, I don't know what the market was like for it back when you leased or what its lease program was like.

    I am sorry to say that it is usually fairly expensive to get out of leases well before their scheduled end dates. In order to do so, you need to purchase the vehicle that you are currently leasing from the bank that you are leasing it through. It often turns out that it costs more to do so than your vehicle is worth on the open market. Furthermore, many banks expect consumers who end their leases early to still make all, or at least the depreciation portion of their remaining lease payments. As you can see, this can get very expensive.

    You can determine approximately how much it will cost you to purchase your truck before the scheduled end of your lease by comparing its purchase price to its value on the open market at this time. You should place a call to the bank that you are leasing your vehicle through to find out its exact price. Once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion: "Real-World Trade-In Values". One of our most knowledgeable community members, Terry, frequents that discussion and he is often kind enough to give community members who give him an accurate description of their vehicles with his opinion on their value. Don't forget to check to see if you are still on the hook for your remaining lease payments. The difference between your leased vehicle's current value and how much it will cost you to buy it plus any remaining lease payments that you are obligated to pay will equal the cost of getting out of your lease right now. You may find that you are better off waiting until you are closer to the scheduled end of your lease to buy your truck.

    Car_man
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