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

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Comments

  • Hey Car_man,

    Can you please tell me if mine was a good deal?
  • topgun7topgun7 Posts: 409
    They are claiming it was reduced to .00008 per deposit up to a max of nine a while ago

    yes, I think they are right... I did 9 deposit on a 08 LS460 a couple years ago and each deposit I got 0.00008 reductions.. Infiniti is the only one that hs 0.0001 per deposit reduction.. BMW is 0.00007 per deposit...
  • Hi,

    Can any one please respond to my numbers on the lease, this was my first lease and I am concerned whether it not it was a good deal...

    Thanks again
  • blk133blk133 Posts: 1
    edited March 2011
    Hi,

    This is my first post so I am not a pro here, but I think you got a great deal. I also think that you know that already :) Even if it wasn't a good deal it's not like you can go back and change it. Enjoy your new car!
  • topgun7topgun7 Posts: 409
    edited April 2011
    Can any one please respond to my numbers on the lease, this was my first lease and I am concerned whether it not it was a good deal...

    The best way to figure out if the lease is a good deal or not is to look at the component..

    Do you get the best price for the car? don't look at what people in Ca pay for their car.. You need to look for what can you get in NJ.. If you already compare price at all the dealer,then you know you get the best price already.. If not, well, you have to make some educational guess.

    Do you get the money factor that Car_man mention?

    do the delear slip any unexplained charge into you lease?

    If you get the correct money factor and there is no additiona chrge then you get yourself the best deal possible in NJ.. don't worry about what somebody else get in California or Florida unless you plan to fly out to pick up the car out of state...

    it is very common when you ask a question like this in a msg board, someone would jump in and mentioned that they get a better deal in S. California or you should be able to get the price down another 2000 to 3000 dollars.. But what they ignore to say is that all car purchase are local.. The price for someone in Cal if not the same as the price that someone can get for the same car in NJ...
  • starabarstarabar Posts: 1
    Hi,
    This is my first post here and I'd appreciate any feedback.
    I'm going to pick up a 2011 RX 350 AWD Package E, fully loaded with Nav and 19" wheels. MSRP $48,693. The lease offer for 42 months, 10,000 miles, not including NYS taxes, bank fees, DMV fees and first month payment, is $527 a month with no money down(besides all fees and taxes upfront). Can I get a better deal? I left a deposit over the phone yesterday and I'm planning on heading over on Monday to process everything. Anybody knows if April money factor and residual are better than March? Thank you in advance for any feedback.
  • louiesmomlouiesmom Posts: 10
    Hey Car Man,
    I am currently leasing an '08 GX470. I have another year on this lease but I was recently contacted by my Lexus dealer about bringing my truck in because these 'older models are in high demand'. They seemed very reassuring about getting me out of this lease early without penalty. I would be interested in leasing a 2011 RX350 but, I do not want to be responsible for the remaining payments on my current lease. Is this situation something that you have heard of or is the dealer just trying to scam me?
    Also, do you happen to know the current (April) leasing program for the 2011 RX 350's (money factor/residual)?
    Thanks so much! This forum has helped me for my last two leases!!
  • topgun7topgun7 Posts: 409
    I do not want to be responsible for the remaining payments on my current lease. Is this situation something that you have heard of or is the dealer just trying to scam me?

    No, the dealer is not trying to scam you but they may want to do a highway robbery without the gun. With your lease with Lexus, every month there is a payoff amount. If you have access to the online account, it is in there. If not, you can call Lexus financial and they will give you that number. The pay off amount is the amount of money that Lexus will sell you the car at this particular month. Essentially the dealer is offering you to buy the car from you using that amount so they will pay off your lease and they will take your car and sell it thmeselves. It is legitimate. However, if the truck is as desirable as they claim, you can probably sell it yourselves to another dealer and pocket some money. If you have multiple dealer in your town (or near by towns), you can call them up and talk to the used car manager. Told him the offer you received (but no name.. all the dealer in an area know each other well. You don't want them to gang up on you) and ask them to bid on your truck.. We did that a few months ago and sold our LS460 to a dealer and we walked off without any additional money.. Wife called 7 dealers and 3 reponded.. The high and low offer was about 3,000 different. The key is to generate some competition (and always say no to the first offer) and you should get the best possible prie in your area. good luck..
  • tlb5tlb5 Posts: 35
    ritazz,

    sorry - haven't checked the forum in awhile. email me at rcirz2@irr.com and i can send you his info (want to follow forum rules and not disclose specific dealer names over the forum and i do NOT see him listed on the serramonte site so i can't just point you there...)
  • roblawroblaw Posts: 17
    I am looking for a 2011 RX 350 AWD in SE Pennsylvania/S. Jersey with Prem., Comfort, Tow, NAV, 12 Speaker. It seems the car was about $48,300.00 but is now around $49,000.00 with the new price increase. I am looking for a 36 mo. 12k lease. Actual dealer cost from Truecar (with holdback removed and advertising fee added in) is about $42,600.00 for the pre-price increase car. Has anyone gotten close to about $44,000.00 for that car? I am also looking of the additional loyalty cash of $1000.00.

    And Carman, can you tell me the current lease factor for April?

    Thanks.
  • jane3jane3 Posts: 21
    My husband was reading these edmunds boards and told me that when looking at lease prices, that a good deal is about 40% of the MSRP divided by the number of months on the lease (assuming 36months and 15000 miles). Is that correct? I am looking at a 2011 RX AWD with nav, prem, comfort, and remote start, MSRP at $48700, trying to get price of $42000 and deciding to lease or buy.

    Thanks
  • roblawroblaw Posts: 17
    I do not know where you are so I cannot speak to the competitiveness of your market. Truecar gives the true dealer cost (invoice minus the dealer holdback with the advertising added in) at $42,600.00 for the pre-price increase car I priced out (a few hundred less than yours at about $48,300.00).

    I got a what I perceive as a fair offer in PA of $44,000.00 and I keep the $1000.00 Lexus loyalty money. That gives the dealer about $1400.00 profit. Yes, I could have shopped 10 dealers, wasted many hours of my time and probably saved a few hundred dollars. No negotiation was necessary with this offer. Truecar dealer cost is probably a few hundred higher, maybe $42,900.00 on your car. Since this is the dealer's actual cost I would be surprised if a dealer is willing to lose $900.00 to sell a vehicle. The dealer I last purchased my last RX 350 would not come below $46,500.00 for the vehicle I priced out so I feel that my agreed price is probably decent.

    Good luck.
  • jane3jane3 Posts: 21
    Thanks, good to know your numbers. I will use trucar and aim for $44000.
  • roblawroblaw Posts: 17
    Jane: Did you ever nail down a price? I see people saying that they got lower than actual dealer cost. The Truecar price is supposed to be actual dealer cost (not invoice), yet a few posts from different areas of the country show prices below cost (meaning even after the dealer holdback is removed). I do not see how a dealer is going to lose money on a deal. I went to my current dealer and they would not come below $46500.00 and I got $44,000.00 without arguing for my current offer. I know I could have solicited offers from multiple dealers but I do not have the time nor the inclination to do that.

    What was your experience? Are you local to SE PA/NJ?
  • delta737hdelta737h Posts: 603
    The Truecar price does NOT reflect dealer cost. In fact, very few people inside a dealership know the actual cost to the dealer. No dealership is going to entrust revolving door sales personnel with proprietary cost information for competitive reasons. Moreover, there are so many other costs that factor into the dealer cost other than holdback. Floor plan costs or the cost of financing is one such cost. Other costs include manufacturer to dealer incentives not generally known to the public.

    John
    The AutoLeaseGeek
  • roblawroblaw Posts: 17
    Thanks, John. Then if I settle for $4400.00 off a $48,300.00 Lexus (Truecar profit of $1400.00 for the dealer) am I leaving too much on the table. Some posters are suggesting that they are getting cars far lower than invoice, even accounting for the holdback. I am OK with the dealer making a profit and I am not inclined to waste my time (because I bill by the hour) going back and forth with 10 dealers. unless you are suggesting that I am leaving several thousand dollars on the table. These incentives you speak of, neither Edmunds nor other sites finds out about them?
  • delta737hdelta737h Posts: 603
    edited April 2011
    roblaw,

    Dealer profit is irrelevant as far as the customer is concerned. I suggest letting the dealer worry about whether or not they're making a profit. Consumers have no clue what a dealer's profit margin is on any given deal. I would comb truecar pricing as well as edmunds and amex (zag.com) to get a rough idea of pricing in your region. Start with invoice and deduct holdback, incentives, and, then, knock off another $1,000 or so for good measure. Some incentives are proprietary and are not published. So, yes, edmunds and truecar would have no knowledge of them.

    Also, you may want to print out or download my sample lease proposal by clicking on HERE at...

    https://autoleasegeek.com/services/custom-lease-proposal

    Remember, you can always come up but never down when negotiating the sell price.

    Hope this helps.

    John
    TheAutoLeaseGeek
  • jane3jane3 Posts: 21
    One dealer called on monday with an offER of $44655 but wanted me to sign ASAP, and I had meetings that night. I am going back this weekend to nail down a deal if I can for $44000 to 45000 as my ideal price point.
  • zoranzoran Posts: 68
    Any one with latest deals on lease?
  • louiesmomlouiesmom Posts: 10
    ok so, I just closed a deal today and well, I'm not sure I got the 'best' deal but, I am okay with the deal I did get. Here goes:
    They took my 08 GX470 lease back with 12 remaining lease payments (I was getting too close to being over on my miles). They bought the truck (and remaining payments) from the bank.
    I got a 2011 RX350 AWD Fully loaded, NAV, Comfort, Premium pkgs, Park Assist...
    MSRP $52560
    neg price: $46403
    48 month lease with 12k miles per year
    Residual: 47%
    Money Factor: 0.00155
    Payment: $599 per month
    Due @ signing: 1st month payment + DMV fee + plate fee

    They basically just transferred me into a new truck with the same payment that I had with my GX with virtually no money out of pocket @ signing. I think I might have been able to get a better deal if I went to more dealerships and really haggled with the price of my GX, I just don't have that kind of time to invest in it.

    Good luck everyone!
This discussion has been closed.