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

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Comments

  • dulnevdulnev Posts: 652
    Car_Man, please provide the current residual and money factor for the 2011 RX450h AWD for a 36 month 12K miles lease. Thank you!
  • Getting ready to buy today! I ve looked all over the forum. I need Residual and MF for RX350 RWD for 36 months - 15k and 48 months 15k
    Any help would be greatly appreciated1111
  • cartman13cartman13 Posts: 43
    edited December 2010
    Info is in the forum already for the dec event and 12k miles. Go back and reread car_man's posts for that. Not sure about 15k, but he might cover the residual hit for 12-15k. If u negotiate a good price the 36 month lease will probably be cheaper due to the way the math works.
  • I went through the complete forum for december and there was nothing for the 15k. Buying on Tuesday so I really need the info to make sure we are getting a fair deal.

    Need the residual and money factor for 15k for a 36 and a 48 month lease on a RX350. Please any help would be appreciated!!!!!
  • topgun7topgun7 Posts: 409
    I went through the complete forum for december and there was nothing for the 15k. Buying on Tuesday so I really need the info to make sure we are getting a fair deal.


    Subtract the 12K number by 2%... Residual is one of the number that dealer cannot change so that is no negotiation and delear cannot fudge the residual.. Most time, the MF for 12k and 15K mi a year is the same.. So if Car_man does not respond before tuesday, I will use 57% for residual (RX350) and 0.0017 for MF for 3yr 15k mi... And make sure you at least look into using multiple deposit to bring down the payment.. For each additional payment, LFS reduce the money factor by 0.0007 and you can do a max of 9 security deposits. LFS will return the money after the lease is done.. The saving in payment generally amount to 8-10% a year of the deposit.. So if you have money sitting in bank CD getting 1% a year, that is a pretty good alternative..
  • cartman13cartman13 Posts: 43
    edited December 2010
    I'd agree with what topgun said here. Also note carman's post from november

    "Hi arbitrage1. Lexus Financial Services current buy rate lease money factor and residual value for a 36 month lease of a 2011 RX 350 AWD with 15,000 miles per year are .00210 and 57%, respectively for Tier 1+ customers.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum "

    So i think you are definitely in the right ballpark.

    Also residual is set by the bank so it is what it is (like topgun stated) MF can be padded by the dealer and the negotiated price can be played with along with fees and stuff. I'd be less worried about residuals.

    If they are just quoting you payments, best way to cut through that bull is just ask straight up what car price, OTD price, MF, and residual is this based on. They can't hide anything cause it will all have to be clearly stated on the contract.

    I noticed in topgun's post that he's missing a zero in the MF reduction for a security deposit. Hopefully that's obvious, but if you are like me you might wish it was true and believe it. LOL
  • hey valenkav, did you end up making a purchase yet?
  • Hi logic_3,
    I met Karen and she did excellent job working with me. The problem was my current lse (2008 Jeep Commander) with 5 remaining pmts around $400/mo. Nobody can be even close to that number and I decided to stay with Jeep until mid of June. Later on I will see which of two options (RX350 or Jeep Overland) would be more attractive to me. Thank you for help.
  • Looking to get into a 2011 RX450h, MSRP $53,845.
    Between 2 dealers, best I can get for OTD is $49,845 from Dealer 1 and $48,679 from Dealer 2.
    Same car loaded w/Nav, etc.
    MF=00185
    Residual=$30,153.20
    How much down to get $600/mo (w/7% NJ tax included)?
    Will fly anywhere USA for the deal.
    Dealer 1 wants $748.93/mo, Dealer 2 'says' he can swing $600/mo w/$2500 down.
    What to do, how to do it?
    Is it worth paying the AutoLeaseGeek to negotiate the deal?
  • @guruuno

    LOL. You sure you want a Lexus? :) If you are looking around, check out my post on the ML350 Bluetek deal. Might be better for you. Mine was for 12K, but you can bump it to 15K without a massive increase.

    http://townhall-talk.edmunds.com/direct/view/.ef9dd7a/894#MSG894
  • You sure can, beachlady80. Lexus Financial Services' December buy rate lease money factor and residual value for a 36 month lease of a 2011 RX350 FWD with 15,000 miles per year are .00170 and 57%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    The numbers for an otherwise identical 48 month lease are .00170 and 51%, respectively.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Yes, cartman13, the money factor that you mentioned is correct.

    Lexus Financial Services' December residual value for a 36 month lease of a 2011 RX450h AWD with 10,000 miles per year is 59%.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Here you go, dulnev.

    Lexus Financial Services' December buy rate lease money factor and residual value for a 36 month lease of a 2011 RX450h AWD with 12,000 miles per year are .00150 and 58%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • OK, dealership referenced in initial post was Lexus of Edison (NJ)
    Went to Ray Catena Lexus of Monmouth this evening, here is that offer:
    2011 RX450h, MSRP $51,777 (same vehicle as other, only no 19" wheels or LED/HID headlamps).
    Negotiated price is $45,900, MF is 0.0017
    36 mo./15k yr. $599/mo. (incl. NJ tax) ($3k down, $1,865.50 acquisition fees, etc.), total $4,865.50 at signing.
    AND
    turn in 2007 Toyota Camry HYBRID [loaded] (had 48 mo lease, 4 mo. early), had 3k over in mileage (is now 51k), they will pay off/take in Camry, make new RX450h a 42Mo. lease for $629/mo or 48 mo. lease for $619/mo.

    So the question(s) are:
    $599/36 mo/15k yr + $4,865 w/no turn in (I'm responsible for Camry disposal)
    or
    $619/48 mo/15k yr + $4,865 they take Camry and I'm done with it
    or
    $629/42 mo/15k yr + $4,865 they take Camry and I'm done with it.

    So it the Camry is already 3k over on mileage (@ .15 per mile/$450) with 4 payments of $596.22 left and a payoff of $15,043.62 that is like $2,800 vs. the deal as specified above.

    I was hoping to keep the payments at $599/36 mo/15k yr WITH them taking the Camry and paying it off, but not gonna happen.
    Is there any "wiggle" room left to tweak before commitment or it this as good as it gets?
    I do appreciate the help and wealth of information offered here.
  • cartman13cartman13 Posts: 43
    edited December 2010
    First off according the carman, the money factor should be .00015. At worst they should give you .00016 if not .00015. (disregard. after reading the forum it seems like a 15k mile lease get's a higher MF)

    As for the options where they take the camary, i'm assuming you took the camry to a carmax and made sure they won't take you out of it with no cost?

    To figure out what they are charging you to take the camry, you'll need the residuals for each lease then just plug the numbers into a generic lease calculator (fount on the internet).

    Just ask the dealer what the buyout/residual is on each lease option.

    Then compare what they are charging you for taking the camry vs. what it would cost you to unload it at carmax.

    As for the price you are paying, is that below invoice?
  • I'll check in the AM as to the exact MF by contacting the sales rep.
    I did not take the Camry to Carmax, I was not aware of that process. Please elaborate as to the benefits, etc., and other than getting a value of what they offer, are you saying if the buyout is "X" from Toyota, and Carmax says it will only offer you "Y", I should forget any other values I see in KBB, NADA, eBay, retail dealers lots, and only focus on wholesale trade-in value? I do understand the advantages of just turning in the car and walking away, but one would think it should not cost more than the 4 remaining payments + any mileage overage (which as of today would equal about $2,800).
    The payoff for the Camry is $15,043.62 as of today. That's the same as the buyout, no/yes? If not, please elaborate. (The actual buyout on the Camry lease states $13,526 at the end of the lease term in April 2011).
    When you say, "made sure they won't take you out of it with no cost", you mean who, Carmax, the dealer, anyone? Bottom line on that is if the payoff is X, and I pay it off, it's worth that to whoever buys it, and are you saying if Carmax or the dealer offers less than what the payoff is, that's all I'd get and have to make up the difference? Why not then would one not buy it out themselves, spend $180 to detail it, and sell it for the cost one has into it just to break even, rather than take a loss?
    Regarding the buyout on the Lexus, I think it was $30k or so, I will check in the AM.
    Re: 'below invoice', MSRP vs OTD vs INVOICE, who/where do I get INVOICE numbers with all options as specified on the window sticker, and normally, what should one expect to pay off of MSRP, if at all (I'd assume it's about supply, demand, desirability, etc., correct?)
    Anyway, my wife just came to me with these facts:
    For the new Lexus:
    $599x36mo=$21,564 (no Camry involved)
    $619X48mo=$29,712 (w/Camry turned in to them)
    $629X42mo=$26,418 (w/Camry turned in to them)
    So, if I owe 4x$596.22=$2,384.88 + 3k mileage over the 48k allowed (as of today), which is .15x3,000=$450 for a walk away of $2,838.88 to get out of the Camry lease, I'm getting charged $5,309 (48 mo) $2,016 (42 mo) over and above the $2,808 payoff?
    Sounds like they are not doing me any favors.

    So, without further headaches, bottom lime is if I keep the Camry until April, buy it for $13,526, flip it for the same amount, and deal for a RX450h at that time, is $599/36mo a good deal, and what would be the total out of pocket expected.

    I know this is long winded, but man, it is not so super simple when one is a novice.
  • topgun7topgun7 Posts: 409
    I did not take the Camry to Carmax, I was not aware of that process. Please elaborate as to the benefits, etc.

    It is a very simple process.. You take your camry to the toyota dealerships in your area. Tell them you want to sell your car to them. They will ask your lease termination amount (toyota financial will be able to tell you. or if you use the online account to pay for the monthly lease, the lease payoff amount should be right in your account. The dealership can find that out also very easily.). Normally they will at least trying to make you pay 1000-2000 to get rid of the car regardless of how much your car is worth. However you can take the car to multiple dealears and look at the price of similar car they listed in their own inventory to get a gauge on what kind of price they can offer you. Make sure you factor into the work that they need to perform on the car and profit margin for the dealer. The best way is to get multiple bids and go from there. We just did that for our 08 LS460. The initial offer is 35K and wifey negotiate up to 39.5 (our payoff amount.. so we just walk away from the car). She called 7 dealers in our area and 3 showed interested and she took the cars to two of the dealers (the last one called back too late since he is in Lexus auction). The dealer turned around and CPO the car (getting an extended warranty from Lexus) and listed it at 48K... CPO probably cost the dealer a couple thousand and they also need to replace the tires.. So dealer cost for the car is about 42.5K and they are asking for 48K.. My guess is that they will find a buyer at 45-46K... It is always good to seperate the trade in and buying a new car. The delear that is willing to pay top dollars for your used car is not necessary the same delear who is deperate for new car sales. So you are cheating yourselves by combining the deals into one. Wifey did her calling and negotiation in 24 hours... But we live in Bay area where there is a lot of dealers around so life it easier..-
  • cartman13cartman13 Posts: 43
    edited December 2010
    Annoying, I wrote a reply and this stupid browser somehow deleted it.

    So my suggestion is:

    1. Get the payment for 36 months with turning in the camry.
    2. figure out the pre-tax payment for both scenarios @36 months.
    3. Check the difference in payments and divide by 30. This is the rough number of thousands they are charging you to take the camry.
    4. Alternatively you could get more exact and plug all the numbers into an online lease calc and fiddle with the trade-in numbers till you find the right payment.

    Now, if a carmax is nearby, take it to them get a quote. It’s good for 7 days/200 miles. They can check with Toyota to get a pay off quote for you as well. (And upon further review, i guess Carmax doesn't operate in NJ or NY so this point could be moot.) But the thing topgun said about checking with toyota dealers ect. is the same idea. But you need to know the lexus dealer is charging you before you can make any decisions. (And they are trying really hard to deguise it by changing the terms on you if taking te car.)

    Now compare the difference. Of what the dealer is charging you and what it would cost you to unload it at carmax.

    I can almost guarantee you Carmax will offer more than any other brick and mortar dealer. It’s strange, but if you really think about it, it makes sense. But that’s a different discussion.

    The analysis you are doing is flawed in that it’s not taking into account the different residual values of the car at 36, 42, and 48 months. Sure the sum of payments are higher, but your right to buy the car at each point will be at a different price point. Some of each lease payment goes towards paying the “depreciation” so at 48 months, your buyout would be probably around 3k lower than at 36 months.

    Hope that makes sense.

    REVISED TO FIX MY ASSUMPTIONS!

    I did a quick calc assuming the residual for a 48 mo lease drops to 50% vs. 56% on a 36 month lease. (an assumption based on other numbers i've seen.) Then they are charging you about $2,850 to take the camry. If that's true they should be able to do the 36 month using your terms for $689 a month. Seems like a steep hit….

    Should be an easy call the to the dealer to verify.

    It should not matter to the dealer what the length of the lease is. Eitherway they sell the car.
  • hamm3rhamm3r Posts: 55
    Hi. In NJ I am being quoted 49607 on MSRP of 54104.
    I have to pay taxes and fees of 2235, but otherwise no money down.
    3 year 12k miles 31380 residual quote is $707/month.
    3 year 15k miles 30298.40 residual quote is 737/month.
    25 cents a mile overage.

    Would appreciate help if this is a good deal or not. Thanks so much for helping out those of us who can't grasp the concept.
  • hamm3rhamm3r Posts: 55
    Oh, and he said he didn't know what the money factor was.
This discussion has been closed.