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

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  • Hi Carman,

    My husband and I are thinging about the Rx400h, but I am having a hard time making the decision to pay such a huge premium for a vehicle. If I am calculating correctly, it will cost me nearly $300 more per month to lease a 2006 RX400h than a 2007 RX350. Are my calculations correct?

    Thanx
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    You;re very welcome, mss443. Vehicles' residual values are based upon a percentage of their full MSRPs, including destination charges and the MSRPs of any options that can be residualized. You may not be able to residualize dealer installed options. If that is the case, in order to have a dealer installed option added to your lease you would have to pay for the entire thing over the length of your lease. As a result, a remote starter that has a price of $489.30 (30% off of $699) would increase the monthly payment of a 36 month lease by $13.59.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi screwjack. Lexus Financial Services' current buy rate lease money factor (as of July 27th) for the 2007 RX 350 is .00175. I would be happy to use this number to estimate what your lease payment should be on this truck, however in order for me to do so I need you to provide me with its full MSRP.

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Congratulations on your new truck, sxylxy. The money factor and selling price that you mentioned in your post look good to me. You never mentioned your monthly payment though. Enjoy your new truck!

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi ebg. 48 month leases are not more popular for three main reasons. The first is that many automakers do not provide lease support on 48 month terms. This is the case with Honda and Toyota. I suspect that they don't provide support on 48 month leases because they want their customers to come back and get a new vehicle sooner than that, which makes sense. This isn't an issue with Lexus because its special money factors are available for up to 48 months. The second main reason is that 48 months is longer than many vehicles' full warranties. Many consumers don't want to drive a vehicle that doesn't have full warranty coverage for the last year of their lease. Again, this is not a problem with Lexus because its models come with 4 years / 50,000 miles of full warranty coverage. The third reason why 48 month leases are not more popular is that 4 years is a long time to drive one vehicle for. Consumers who lease tend to want a new car or truck every couple of years. It's usually fairly expensive to get out of leases early.

    If you were to lease a 2007 Lexus RX 350 AWD without navigation through Lexus Financial Services right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00175 and 59%, respectively. Just in case you are interested, the numbers for an otherwise identical 48 month lease of this truck are .00175 and 50%.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi dmemmolo. Many consumers find that the savings in gas that they experience from purchasing a hybrid vehicle does not justify the premium that they have to pay for it compared to a similar non-hybrid model. I would be happy to calculate the difference in lease payments between the RX 350 and RX 400h that you are considering if you provide me with their full MSRPs and approximate selling prices.

    Car_man
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  • sxylxysxylxy Posts: 29
    Hi again Carman,

    My monthly payment is $639 with zero down (just DMV & 1st month). I have the NAV, Mark Levinson, 2WD, RES (had to get that...darn!...18" alloy wheels and heated seats).

    Thank you for all of your terrific info. :shades:
  • sdanisdani Posts: 10
    Greetings all,

    Does anyone have the Money Factor / Residual details that Lexus is offering during the "Golden Opportunity Sales Event."? This is what I got from a NJ dealer yesterday, but I wanted to know more details like MF & Residual etc, so that if I negotiate on the final price, I know the rest of the calculation is correct.

    RX350 - 2007
    Base Model with Standard Premium Package, Destination Charge + 2-3 small standard additions (All cars come with these - per the SalesMan) -
    MSRP -> 43033
    Sale Price (till Sept 4th) -> 39723
    12K per year
    2500 Capital Cost Reduction
    1767 Inception Fee - Including 1st Month Fee
    $449 per month + TAX.

    Based on the TMV price on Edmunds, I am okay with 39723 Sale Price, but I would like not to pay 2500 Capital Cost reduction, and thus would like to know the factors / numbers used to recalculate if I don't want to pay that price.

    Also, is the inception fee standard or can I negotiate in any of these fees:
    Total 1767 - I don't know how it breaks up, because the sum does not match, but this is what they gave me:
    Bank Fee -> 600
    MV -> 360
    Window Wetch -> 169
    Documentation Fee -> 199
    Credit Check -> 15
    Tire Tax -> 7.80
    Some other local tax -> 8.30

    Thanks for your time.
  • maximafanmaximafan Posts: 592
    Hi, Sdani. I test drove the RX350 today, same options as the one you're looking at, and I also test drove the IS250 and ES350. I ended up liking the RX350 the best out of the three
    mainly because it has better flexibility and I
    felt it had the best power of the three.

    I was given a figure for a monthly lease payment of around $540 per month based on
    $3000 total put down. This would include the
    inceptions and a small cap cost( I'm guessing
    of around 1500 to 1700.) But I need 15k a
    year; and, thus they're coming up with the
    $540 instead of $520.

    Are you saying they want you to put $2500 down
    plus the inception fees? That would make your
    total down payment of over $4267. Of course,
    that would explain the low monthly down payment.

    In our local newspaper here in the Tampa Bay
    area, Lexus is advertising a monthly lease
    payment of $458/month with $3999 down for
    48 months, 12k a year.
    Incidentally, my lease offer is for 48 months
    also. How long is your lease offer for?

    I really hate to have to put anything down over
    and above the inceptions fees. But then I'd
    probably be talking about a monthly payment of
    over $600 on a model that only has the premium
    package. I was also surprised at how much the monthly payment jumps to get a 15k/year lease!

    I forgot to add though that your vehicle may have a few more options than the one I'm looking at because my vehicle's MSRP is around
    $40,000 and the selling price is $37,000 and
    some change. So yours might sound a little better. It sounds like you might be getting
    the premium plus instead of just the premium
    model???
  • sdanisdani Posts: 10
    Maximafan,

    It may be Premium Plus. I did not go in details because I visited two dealerships and they both said that this is something which comes prebuilt in NorthEast, i.e. the only two options I have is Navigation & No Navigation. The NoNavigation is 43033 sticker (AWD) and Navigation is an extra 2600.

    As far as the lease, I don't think that I will pay the 2500 down. I will adjust it in my lease payments. The total cost that the dealers are asking beyond the sale price is between 900-1300 in NJ. This includes 600 Bank Fee, which some has mentioned as Acquisition Fee in other forums (non lexus and lexus). Th ethink the 199 documentation fee is something which I won't like to pay, but I would rather negotiate on base price.

    Based on information I have so far, here is the Golden Sales Event in NJ -> I may be wrong so wait for Car Man to confirm:

    MF = .00175
    Residual =
    58% (36 month 12K/year)
    56% (36 month 15K/year)
    49% (48 month 12K/year)
    47% (48 month 15K/year)
    Remember to calculate the residual on MSRP (sticker price).

    UpTo 9 MSDs are allowed which can bring down the MF by 85 to 90 points, i.e. .00090.

    Now using these numbers you can calculate your numbers.

    Thanks
    sdani
  • sxylxysxylxy Posts: 29
    Now that the dust has had time to settle on my lease from two weeks ago, I have a question:

    The dealer and I finalized the MSRP (the options),color, and the payment that I was looking for over the phone. I had a higher MF and a higher residual in my calculations. The fact that the MF and residual % were lower at the signing didn't make much difference to me. I figured that at least I'd have a lower purchase price in three years if I decide to buy.

    Since we agreed on the phone, I don't plan to ask the dealer this question. Isn't the residual set by Lexus itself? Why would I get a 54% residual, instead of the 56% that Lexus set?
  • Hi does anyone know what the current money factor is for a 36 month lease with 15000 per for the RX350 AWD with the premium plus package?
  • amcaramcar Posts: 2
    I leased a 07' RX 350 last month. AWD + Prem Pkg Here's the deal.

    MSRP: 45,683.00 Gross Cap Cost: 40,431.00

    Residual val: 57%
    15K miles/year
    $455.00 /mo for 36 mo

    Out of pocket:
    Taxes upfront: 1202.00
    Doc fee: 199.00
    Bank fee: 600.00
    DMV: 270.00
    Tire: 7.30
    First mo: 455.00
    9 MSDs: 4275.00
    ---------------
    Total: 7009.00

    Disp fee at end: 0
  • aggiequeaggieque Posts: 11
    Car man,

    My wife is considering trading in her 2003 RX300 lease (8 months remaining at $505) for a 2007 RX350- AWD, Premium Nav package. Here's the deal MSRP- $45683, Sale Price- $40,748, $1651.94 down and $613.75 (tax included) for a 3yr, 12K mile lease. On a 4yr, 12K lease- they are offering $1616 down and $578 (tax included).

    What's your take? Should we take the deal or pay off the lease as scheduled? thanks in advance for your assistance!
  • I am about to buy a 2007 RX 350 with an MSRP of $43,283(NAV car). I negotiated the final price down to $40,200 + TTL
    What info can you give me that I will need to make sure I get the correct(best) lease deal on this car with 15k miles? Thanks in advance
  • maximafanmaximafan Posts: 592
    Hi, aggieque. I just picked up my new '07 RX.
    My 2002 Maxima was totaled out from a wreck I
    was involved in almost a month ago.
    My saleswoman kept reiterating to me that if
    you are a current Lexus customer, that Lexus
    is very generous in waiving remaining payments
    on existing leases in order to get their
    customers into new leases. I don't know how
    much they would waive, or maybe since Lexus
    vehicles don't depreciate much, then you could
    get them to buy your car and see if you come
    out ahead that way.
    You might want to inquire about this at your
    local dealer. Good Luck. The RX350 is a
    fantastic car!
  • aggiequeaggieque Posts: 11
    maximafan- thanks for the advice. The dealership has agreed to eat the remaining payments. I think we have a pretty good deal but wanted confirmation from the moderators.
  • ebgebg Posts: 2
    Thank you Car_man,

    I leased an RX350 last weekend. The residual was off by one percent (58 instead of 59), but I figured that it must have been adjusted by LFS.

    Anyway - for those still on the market I hope the details of my deal will be helpful:

    RX350 AWD, P+, 18", Heated Seats
    3 Years, 36K Miles Lease
    MSRP: $43,033
    Selling Price: $38,000
    Acquisition Fee: $600
    9 Sec Deposits: $4500
    Driveoff: $830
    Monthly Payment: $469 (including tax)
  • jmcmbzjmcmbz Posts: 42
    I'm helping a friend with this deal. This is what I negotiated here in So. Cal. The car is Front Drive w/ NAV, Premium, Heated seats/Rain sensors, 18" wheels. I'm told this is selling price is $600 below invoice but the numbers on edmunds show a much lower invoice. I'm not too worried as it seems competitive and this is the same "selling price" if configured on CarsDirect.com so that makes me feel good about it. The other thing I'm not quite sure about is the 55% residual. I got the 55% from 2 different dealers so I belive the salesman when he tells me it's direct from Lexus financial. But I'm wondering why it doesn't match up with the 56% listed here by maximafan. Maybe it's for California or the vehicle w/ Nav or it's changed mid-month. I think we're gonna go with this unless there is some big discrepency. The car doesn't arrive until 8/28 or 8/29 so hope to hear by then. Thanks Car_man for the info and help and to anyone else as well!

    MSRP $44,123
    Sell Price $38,764
    36 month lease term
    15K miles per yr.
    Total due at lease signing $1,560.77
    (includes 1st payment, DMV and $600 bank-fee)
    Residual (55%) $24,267.65
    Money Factor .001750 (w/ No Security Deposit)
    Mo Payment incl. 8.25% Tax $555.31
  • Hi Carman-
    I have a question on the money factor during the Golden Opportunity event. I've seen .00175 and .00145 on this discussion board. Can you tell me what the latest rate is?
    Also, what does MSD mean?
    Thanks for the help.
This discussion has been closed.