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

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  • jmcmbzjmcmbz Posts: 42
    PS: the dealer added chrome wheels to this deal without any changes to the terms. Can anyone conifirm the 55% residual? We are getting the car tomorrow so I hope this is all good.

    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
  • sdanisdani Posts: 10
    This is my deal in NJ.

    Base MSRP* $38,800.00
    • Standard Features
    Available Packages $3,538.00
    • Premium Plus Package - Luxury Value Edition with Additional Options
    Delivery, Processing & Handling Fee† $695.00

    Total MSRP** $43,033.00

    We agreed for $39,000.
    Bank Fee $600
    Documentation $199
    MF - .00085
    MSD - 525*9=4725
    DMV - $262
    36 months
    15 K Miles a year
    Residual = 56%

    Lexus credit card points to buy a new car = 50,000.
    Lexus credit card points to make 5,000 payment to dealer = 25,000.

    So this deal gives me $750 on my Lexus credit card, which I should be able to spend during my lease period for any service.

    I used Lease Calculator on Internet - which gives me a payment of 500 a month, but dealers lease calculator calculated 503 a month.

    I finalized the deal in a 3 minute phone call. He quoted me 39200 + 199 documentation. I offered 39000 and he agreed.

    Two new things that I learnt, which I did not learn from past few days of reading this forum:
    1. The dealer's calculators are different from Internet calculators :)
    2. MSD's have to be rounded up to the next 25, so for my 503 lease - they rounded it up to 525.

    Hope I have covered all the info that anyone else may be interested to find.
  • Greetings sdani. Through September 4th, Lexus Financial Services' buy rate lease money factor and residual value for a 36 month lease the 2007 RX 350 AWD without the entertainment system with 12,000 miles per year are .00175 and 59%, respectively for consumers who qualify for its "Tier 1+" credit tier.

    I completely agree that you should not pay a $2,500 down payment on a lease of this truck. Let's recalculate its lease payment with no money down and see what we come up with. According to my calculations, if you were to lease a 2007 Lexus RX 350 AWD without the entertainment system with an MSRP of $43,033 and a selling price of $39,723 through Lexus Financial Services right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $513.

    Now let's take a look at the fees that this dealer is trying to charge you. Lexus Financial Services charges an acquisition fee of $600 on every vehicle that it leases. This charge is not negotiable. It is difficult for me to say what the motor vehicle fee should be in your area, but you should have to pay something for this item. The window etch is basically worthless and I personally would not pay for it if I was in your situation. The doc fee is really nothing more than a way for the dealer to add additional profit to your deal. Most dealers try to add doc fees to deals. If you are happy with this car's total price, including the doc fee, it doesn't really matter how it breaks down.

    Car_man
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  • Hi sxylxy. Vehicles' residual values are set by the bank that you are leasing through. The residual value that you were originally quoted over the phone should not have changed. The dealer that initially quoted you it must have either made a mistake or Lexus' lease program must have changed between the time that you were originally quoted a lease over the phone and you went into the dealer.

    Car_man
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    Prices Paid Forum
  • Here's the info that you are looking for, jsmil4901. Through September 4th, Lexus Financial Services' buy rate lease money factor and residual value for a 36 month lease of a 2007 RX 350 AWD without the entertainment system with 15,000 miles per year are .00175 and 57%, respectively.

    Car_man
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    Prices Paid Forum
  • Congratulations on your new truck, amcar. Thanks for taking the time to share the details of your lease with everyone. Enjoy!

    Car_man
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    Prices Paid Forum
  • Hi aggieque. You are probably going to end up paying way more than you should for your new truck if you get out of your current lease eight months early. You would be better off waiting until you are closer to the scheduled end of your current lease to get a new vehicle.

    Car_man
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    Prices Paid Forum
  • Hello drewman8. I can give you an idea of what this truck's current lease program is like. This information will enable you to make sure that the dealer that you are working with is not trying to mark your vehicle's money factor up to add additional back-end profit to your deal. Through September 4th, Lexus Financial Services' buy rate lease money factor and residual value for a lease of a 2007 Lexus RX 350 AWD without the entertainment system with 15,000 miles per year are .00175 and 57%, respectively. Make sure that this is the money factor that the dealer you are working with is using to calculate your truck's monthly payment. You also may want to stop by the following discussion to compare the price that you were quoted to the prices that other community members have paid for similar vehicles lately: jstempel, "Lexus RX 330 / RX 350: Prices Paid & Buying Experience" #, 24 Jun 2003 3:31 pm.

    Car_man
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    Prices Paid Forum
  • Deal looks like this here in NJ. 07 RX350 awd,premium plus with nav.package & towing prep. Forgot the exact selling price, but believe it was little over $3000 off msrp. Here's the rest of the numbers.

    MSRP $ 45,683
    Resid. 58%
    MF .00175
    Dn Pmt. $2,500
    Security 0
    Bank Fee 600.00

    Monthly Lease pmt. $479.00 + tax.

    Any thoughts?? Last day of sale tommorrow, was going to go to another dealer and see if they can better it any, but have my doubts since this is a factory program.
  • You're very welcome, ebg. Congratulations on your new truck. Thanks for taking the time to stop back and let us all know how everything turned out. Enjoy your new ride!

    Car_man
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    Prices Paid Forum
  • Hi jmcmbz. The truck that you described probably has a spread of around $5,300 between its full MSRP and dealer invoice price. You were quoted a discount of right around that amount, so I suspect that you are at right around dealer invoice. This is a good price for a lease of an '07 RX 330. Through September 4th, Lexus Financial Services' current residual value for a 36 month lease of an '07 RX 330 FWD with the entertainment system option is 54%. This residual value is set by LFS and individual dealers do not have the authority to alter it. This truck's 12,000 mile per year residual value is 56%. The money factor that you were quoted for this is right in line with LFS' current buy rate for a 36 month lease of this truck for consumers who qualify for its "Tier 1+" credit tier.

    Car_man
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  • Hi sunny5117. Through September 4th .00175 is the correct money factor for a supported lease of a 2007 RX 330. "MSD" stands for Multiple Security Deposits. Through this program, lessees can make additional security deposits on their vehicles. Each additional deposit lowers the money factor that is used to calculate their monthly payment by .00010. A maximum of nine additional deposits can be made can be made. This program is available in every state but New York.

    Car_man
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    Prices Paid Forum
  • Congratulations on your new truck, sdani. Thanks for taking the time to share the details of your lease with everyone. Enjoy!

    Car_man
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    Prices Paid Forum
  • Hi nhraguy. This truck's money factor is supported by Lexus and cannot get any lower than the factor that you mentioned, but its MSRP is negotiable. I believe that the truck that you described has a spread of around $5,100 between its full MSRP and dealer invoice price. A $3,000 discount on it isn't bad, but in an area that has a lot of competition, like the NY metro area does, I would not be surprised if you were able to beat this deal by shopping around a little bit. Have you comparison shopped with a couple of dealers. It wouldn't hurt.

    Car_man
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    Prices Paid Forum
  • Hi,
    I'm looking to lease the RX 400h and I want to make sure I ask the right questions to calculate my lease. Are all these points available for disclosure by the dealer? Are there other questions I should ask? Thanks

    Money Factor
    Residual
    Lease Inception Charge
    Lease APR

    I'm looking to lease for 36-40 months at 12,000 miles a year at a Teir 1+ level.

    Any insight would be great, thanks alot!
  • Hello

    I'm sure you must get this alot, but I am trying to negotiate a lease with a couple of dealers. I'm in the Mid-Atlantic region. Here is my current best deal, and I wanted to know what you thought about it and if I can make improvements.

    This is for a 2007 RX350 Premium Package ( No Nav ) AWD

    Lease is $400 / Month
    36 Months
    12,000 / year

    Cash to bring in

    $2,500
    $325 for something, can't remember
    $400 for security deposit
    $400 for 1st month lease
    $1,300 for tax
    $600 for bank fee

    what do you think and where can I make improvements?

    Dave
  • sdanisdani Posts: 10
    Dave,

    Do some reading about leasing. Also read this one: http://www.edmunds.com/advice/leasing/articles/48365/article.html

    By paying 2500 down as captial cost reduction, you are not really going to gain much. You can try changing the classification of that 2500 to "Multiple Security Deposits" instead of Capital cost reduction and that should reduce total cost of your lease.

    Paying all 1300 tax at the time of signing is also not a good idea. If you have that money to pay upfront, asks them to treat that also towards "Multiple Security Deposits".

    Bottomline - Don't just look at your Monthly payment. The numbers that you should be looking at are the following:

    1. MSRP of the truck.
    2. Selling price that you negotiated with the dealer (read what others are paying on this forum).
    3. Money Factor of the lease (with and without multiple security deposits, i.e. get both numbers from the dealer)
    4. Residual value after 3 years.
    5. Any other fees that dealer is asking at the time of signing.

    Once you have these 5 numbers, post them here and someone can suggest you if you are getting a good deal or not.

    Thanks
  • djdezdjdez Posts: 75
    Hello ...

    I was told that on the '07 RX 350 AWD, that on a 36mo/12k year lease, the residual is 58% and the money factor was .00155 for the month of September. Now, Car_Man had posted it as being .00175 UP to the end of the summer event on September 4th ...

    So, does anyone know what the CURRENT money factor would be, as of TODAY for the rest of September, and beyond ? I'm seeing .00175 and that's what one of the dealers told me, but I also have .00155 from another very trusted source.

    Thanks in advance !!!
  • MSRP=44100
    Selling Price= 38,564
    Money factor= Salesman didn't know
    Residual= 24,267
    Drive off cost= 1599(including bank fee/DMV fee/Title
    monthly fee= 544.77+42.22(tax)= 586.99

    FICA Score=763

    Is this a good deal?
  • According to my calculations, if you were to lease a 2007 Lexus RX 350 AWD... with an MSRP of $43,033 and a selling price of $39,723 through Lexus Financial Services right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $513.

    Car_man:

    Hi, first time post. I had a question on your calculation because I first couldn't get the same number you came out with. But I figured it out. My calculation is as follows:

    MSRP: $43,033
    Price: $39,723
    Residual: $25,389.47 (MSRP x 59%)
    MF: 0.00175

    Depreciation = Price - Residual
    = $39,723 - $25,389.47 = $14,333.53
    Depreciation/month = $14,333.53 / 36 = $398.15

    Rent = (Price + Residual) x MF
    = ($39,723.00 + $25,389.47) x 0.00175
    = $113.95

    Monthly payment = Depreciation/month + Rent
    = $398.15 + $113.95
    = $512.10/month
This discussion has been closed.