Howdy, Stranger!

It looks like you're new here. If you want to get involved, click one of these buttons!





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

1101102104106107136

Comments

  • Ummm, look at the forecast, 18" of snow over the next couple days,
    I would say no. Not a good choice. I live in so cal, and I still buy AWD.
  • Its too cold and snowy for me to go count the FWDs on their lot. :)

    Seriously, I have never driven an FWD car or suv. Is it bad for the snow? I won't be towing anything or doing off road driving - just our typical winters.

    Do you have an opinion on the numbers they are quoting me?
  • Okay, thank you very much.

    I guess it is back to the drawing board with them.

    Is .00212 an accurate MF for top tier credit?
    I've been searching, do you know where I can find residual values?
    I guess for the RX350 AWD, 42 and 48 month, 15k/year
  • Nothing wrong with FWD, but crossover/SUVs typically come with AWD, especially in the Midwest. Resale isn't really an issue, as you are leasing, but on a vehicle designed for AWD, their isn't much downside to getting it.. and, given your current weather, a lot of upside.

    Actually, Car_Man is the resident expert on leasing, and has your info on residuals and money factors. He should be along shortly to answer your questions. Also, many times the FWD models will have different numbers than the AWD models.

    regards,
    kyfdx

    Moderator - Prices Paid, Lease Questions, SUVs

  • I grew up in chicago, and i'm pretty certain you won't be happy if you get a FWD. Way too much snow and rain (and when it comes it comes in bulk...) FWD better than AWD, but if you plan on using it as an everyday driver, you will thank yourself for getting an AWD.

    I'm not sure if this has changed, but something I thought i would point out. IL is usually a very bad state to lease a car in. It's because they charge the the Sales tax on the entire vehicle purchase despite only having the car for 3 or 4 years. (I believe IL and TX and a few other states do this.) Also, if you do end up purchasing the car you will actually have to pay sales tax again. Other states charge you sales tax on your down payment and each payment only.... (use tax) This can be a source of significant savings between a lease and buy option for vehicles with higher residuals in higher tax states.

    I also want to say in IL, If you trade in a car you buy, i think you get a tax credit towards your new vehicle. But I don't believe you can do that with a leased car... I'm a bit fuzzy on this, so should look into it.

    I know this sounds academic, as your choice is still purchase or lease, but one thing i like about the lease option is if I don't use the mile allotted on my lease (i.e. i have a 45k mile lease, but only drive 20k due to changes in my life, you can usually buyout and sell the car recovering some of you lease payments....) Due to the tax setup in IL, I don't know if this is possible w/o incurring the double tax.

    hope that helps. and car_man is definitely the local authority on MF and residuals.
  • jp89jp89 Posts: 10
    NY too charged the sales tax on the negotiated price for leasing even I leased for only 12,000 miles for 36 months. The residual was 57% and MF was .0017. I just did it two weeks ago for 2011 Lexus RX350 AWD. I thought it was not fair to pay the sales tax on the total not on the 43%. The residual is calculated on the MRSP without sales tax. We have 8.75% of sales tax.
  • So, if I look at the RX 350 AWD, have top tier credit - my money factor should be around .0017? What is the residual on a 15k/year 42 or 48 month lease?

    The AWD that I want MSRPs for 46,505

    Base - 39,775
    Destination - 875
    Premium Package - 2400
    Heated Seats - 640
    Nav - 2465
    Remote Start - 350

    Do I shoot to get it for inoice? (41,495)

    Did Lexus bring back their 1,000 loyalty?
  • Hi persevere12. I can't make your decision for you, but given the weather that you're having right now I personally would go with the AWD model ;).

    The money factor that you mentioned is a little on the high side. Lexus Financial Services' current buy rate lease money factor for a 36 month lease of a 2011 RX 350 is .00170 for consumers who qualify for its top credit tier.

    LFS' current residual value for a 42 month lease of a 2011 RX 350 AWD is 50%. The residual for an otherwise identical 48 month lease is 46%.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Lexus is indeed providing $1,000 owner loyalty cash on the '11 RX 350 right now.

    If I was in the market for this truck, I personally would shoot for a selling price of $500 to $1,000 over invoice minus the loyalty cash.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Car_man you rock! Thank you sooooooo much.
  • Do these numbers look right to you?
    RX 350 AWD

    MSRP (including 875 destination) 48,850
    Negotiated price 44,000
    15k/year
    48 months
    Residual: 46%
    Money Factor .0017
    Money Due at Signing: $301 ($1300 - 1000 loyalty)
    Monthly: 639.00
    Trade in Allowance: 19000

    1. They are using the loyalty as part of a down payment.

    2. I've used a few online lease calculators and they all show a lower payment of 639. Is this an accurate payment or a good deal?
  • tlb5tlb5 Posts: 33
    I'm curious if my little excel calculator i made actually works so let me try and then maybe carman can set it straight:

    44,000 price; 46% on 48,850 msrp = 22,471 residual

    so depreciation = (44,000 - 22,471) / 48 = $449/mo.

    MF = 0.0017 so (44,000+22,471) * 0.017 = $113/mo.

    so so far payment = $562.

    in CA you get taxed on both depreciation and interest (no surprise there) so that'd be $562 * 1.0925 = $613 a month. not sure what state your in to figure tax, but i get a lower #. also not sure what the trade in allowance you state means regarding your pricing.

    did you use your loyalty to just counteract the acquisition fee and registration or did you actually reduce the cap cost more on top of that?
  • Tack on another 500 for registration. Usually a $50-100 doc fee
    $795 acquisitions fee, and any tax for any initial cap cost reduction and your are probably pretty close to thei number.
  • hello carman, I just got an offer on lease of 2011 rx350 AWD with navigation , the offer is 3300 down payment and 530/month 36 months 10,000 miles/yr. I would like ur suggestions and advice if this is a good deal. they have the color we like. this is my first lexus and my first time leasing.

    thank you
  • tlb5tlb5 Posts: 33
    Yeah if you're going to add in acq and reg/ttl (I always do) to the starting cap cost then you're probably there. See if addinng about $1300 to the 44k in eac line makes it work (I'm on a mobile device now). Make sure doc fee isn't limited by law in your state (ours is now $55 I think). Did you use your loyalty to wipe out some sort of upfront fees already though?
  • I don't understand what they are doing.

    Here is what I do know.

    MSRP 48,885
    Residual 46%
    Money Factor .0017
    Term 48
    15k miles

    They are asking for 1300 up front. (First payment 639, 287 cash down, 219 dmv fees, 154 doc fee)

    They are using the 1000 loyalty to offset 1300 up front, and I pay 300 up front.

    ****I have this for my current lease that is ending:

    Sale Price on RX 350 44000
    Trade In Allowance 19000
    =Adjusted price 25000
    DMV Fees 219
    Doc Fee 154
    Tax 1823.69
    Delivered Price = 46,269
  • tlb5tlb5 Posts: 33
    sorry, I should defer to carman then. IF your capcost line is in fact $44,000, then based on those numbers i get $561+tax (which in CA would mean $613/mo). you could always ask for the leasing sheet and post that here for comment.

    i'm still not totally clear on what's going on with any trade in issues (if it's a lease what does trade in allowance mean??) so i don't want to screw you up. still not sure what state you're in so i can't comment on the way they do sales tax, but i know you're not in CA because TTL and reg here would be over $500 on that car!

    where did the acquisition fee get worked in? is that already in your 44k?
  • I have asked them for the leasing sheet, and they keep skirting the issue. Is that something they should give me?

    I just don't want to be taken.

    I have one more payment on my current lexus, and I'm under my mileage by 11k. I am wondering if this comes into play and they aren't telling me?

    If the MSRP of the car is around 48,800 (Including 875 destination). Per Edmunds, the invoice is around 43,650 (including 875 destination).... I am just looking to know exactly what I should be shooting for, and I feel like I'm getting the smoke and mirror treatment.

    My last payment on my current Lexus is due around the 18th of February, and I turn it in around the 18th of March.
  • You're very welcome, persevere12.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hello tlb5. The payment that you came up with looks low to me. According to my calculations, this car should have a zero down, pre-tax monthly payment of around $712.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
This discussion has been closed.