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

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  • Hi kunalb. The reason why the 2007 400h is so much less expensive to lease than the 2007 GS 350 is right now is because its lease program is much more attractive. The 400h has a lower money factor and higher residual values than the GS 350. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 RX 400h AWD without the entertainment system with 15,000 miles per year are .00165 and 56% for consumers who qualify for its Tier 1+ credit tier. Using these numbers, an MSRP of $49,887, and a selling price of $45,051, I come up with a zero down, pre-tax monthly payment of around $596. With a $2,500 capitalized cost reduction, this payment would drop to around $523. The selling price that you were quoted looks good to me, just make sure that the aforementioned money factor is being used to calculate your truck's monthly payment and you're in business.

    Car_man
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  • Hello cpa3. Lexus Financial Services' current "December to Remember" lease program for this truck varies depending upon how you want it equipped, how long you lease it for, and its mileage allowance. For now I will assume that you are interested in a 36 month lease of a 2007 RX 350 AWD without the entertainment system with 15,000 miles per year. Let me know if you want some thing different. LFS' current buy rate lease money factor and residual value for the aforementioned parameters are .00133 and 55%, respectively. At lease signing you will have to pay your truck's first month's payment, Lexus' $600 acquisition fee, and any required state taxes or fees.

    Car_man
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  • Hi tonyrx. Don't worry about the expense of the 30,000 mile service for your leased vehicle. All consumers who lease really have to do is change their vehicle's oil at the recommended interval. Performing any other service is really nothing more than a waste of money (other than perhaps getting the tires rotated, but that's just to keep you from having to pay for excess wear and tear).

    Car_man
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  • Sls1, Lexus Financial Services' base lease acquisition fee is indeed $600. At lease signing, consumers who lease through LFS will have to pay the aforementioned acquisition fee, their vehicle's first month's payment, any capitalized cost reduction that they choose to make (ideally this would be zero), and any required state taxes or fees. Consumers who qualify for LFS' top credit tiers do not usually have to pay a security deposit when leasing, but if you want to you can make additional security deposits on your vehicle. You will receive a reduction of .00010 for each additional deposit that you choose to make up to a maximum of nine. The lower your vehicle's money factor is, the lower its monthly payment will be.

    Car_man
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  • Greetings Ethan. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    Now let's take a look at the lease that you were quoted. The selling price that you are being given on this truck looks very good to me. The only issue that I have with this deal is the money factor that is being used to calculate your truck's monthly payment. Lexus Financial Services' current buy rate lease money factor for the 2007 RX 350 is only .00133 for consumers who qualify for its Tier 1+ credit tier. If your credit is in good shape, make sure that this is the factor that is used to calculate your truck's monthly payment and you're in business. The $600 acquisition fee is a standard charge that LFS charges on every vehicle that it leases. Individual dealers are not allowed to waive this charge.

    Car_man
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  • Here's the information that you're looking for, smh12. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 RX 350 AWD without the entertainment system with 12,000 miles per year are .00133 and 57%, respectively. The numbers for an otherwise identical lease of a FWD model are .00133 and 56%. The addition of navigation has no impact upon these trucks' lease programs.

    Car_man
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  • From what I've read on other posts best deal seems to be about $4800 off MSRP or $1500 over invoice. So you may be able to get them to shave another $1000 off their price.

    I was at Lexus Manhattan this past weekend and without much haggling they offered me $3600 off MSRP. I haven't played tough yet -- that was their softball offer -- so could probably get them lower. Though the showroom was bustling so they seem to have a lot of demand.

    BUT...my question is, how did you get the NAV with Levinson?? My understanding (i have spoken to a number of dealers in NY and MA) is that Levinson is a special order item (3-4 months wait), it does not come with the 2007 NAV package. Did they have one someone had ordered and decided not to purchase??

    If you don't take it, please let me know -- I will! If you like music, the Levinson sounds amazing vs. the standard sound system.
  • moolmanmoolman Posts: 122
    Well, I guess the rates I posted from Tarry of leasecompare is wrong.

    Car_man is saying it is 0.00133 for the RX not the 0.00113.

    So if you got 0.00133 for Tier1+, it should be the lowest.

    Good luck to everyone else, I love the car and the payments I got, $471 for 36months/18K. Look up the details in a previous post. This is a SoCal deal of course.

    Alex
  • Basically the car is coming to them in ten days with the equipment I mentioned. They looked at what I wanted, told me this one is coming to them, and I simply reserved it. They seem to be going pretty quick here too. The dealer is great otherwise and I got a good deal on my previous car which I sold today, so I am golden.

    I know, the ML sound is awesome. I've been looking around and haven't found another dealer with the configuration I want. Some have been pushing different colors or for me to switch to FWD instead of AWD. Nah.

    BTW, I am on the west coast. Just so that you know. :)
  • moolmanmoolman Posts: 122
    The RX350 with the ML sound system can be found in So Cal at Longo Lexus, they had a couple in stock 2 weeks ago. I think they had a white and black exterior. I forgot how much they wanted but it was a decent price through their internet department. Longo is the biggest Toyota dealer in the world, not sure about Lexus, so they get a lot of cars in.

    Alex
  • Hi edmundoh. This is a very detailed description of this lease. Good job. The money factor that you were quoted is right in line with Lexus Financial Services' buy rate for this truck. This is a good thing. The selling price that you were quoted looks very attractive as well. I personally wouldn't make the $2,000 capitalized cost reduction (you lose it if your vehicle is totaled in an accident), but other than that this looks like a great deal.

    Car_man
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  • Hello sls1. The selling price that you were quoted looks good to me. Just make sure that the dealer you are working with uses the buy rate lease money factor that has been mentioned in this discussion to calculate your truck's monthly payment and you're in business.

    Car_man
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  • Hi dslucki. It would be a big help if you were able to post this truck's full MSRP. This will show how much of a discount you are being given on it. When Lexus initially introduced its "December to Remember" sales event on November 14th, its base special money factor for the 2007 RX 350 was .00133 for consumers who qualify for its top credit tier. This lease program was scheduled to run through January 2nd. It is possible that Lexus made an unscheduled enhancement to this truck's lease program in early December, but I personally have not heard anything about it yet if it has.

    Car_man
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  • Hello Markus. The money factor that you were quoted for this truck is too high. If you qualify for Lexus Financial Services' top credit tier (it looks like you do), its special money factor for this truck is at worst .00133. There have been rumors floating around that it has been enhanced to an even better rate than that. Make sure that you have the dealer that you are working with use this truck's buy rate money factor to calculate its monthly payment.

    As far as this truck's selling price goes, I am sure that you are already aware that the price you were quoted is $2,000 over invoice. Given the fact that you are in such a competitive automotive marketplace, Southern California, if I was quoted $2,000 over invoice on this truck I personally would be inclined to shop around some more. That's a lot of room to play with. There's a decent chance that you will be able to find a dealer that is willing to beat this deal by comparison shopping. Before you head out, make sure to stop by the following discussion to see how much other community members have paid for similar trucks lately: "Lexus RX 330 / RX 350: Prices Paid & Buying Experience".

    Car_man
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  • Hi comfortzones. According to the latest information that i have seen, Lexus' "December to Remember" buy rate lease money factor for the 2007 Lexus 400h is .00165 for up to 48 month terms for consumers who qualify for its "Tier 1+" credit tier.

    Car_man
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  • Greetings atlantarose. If your credit is in good shape, the money factor that you were quoted for this truck is too high. When it initially introduced its "December to Remember" promotion on November 14th, Lexus buy rate lease money factor for a 48 month lease of the 2007 RX 350 FWD was .00133 for consumers who qualify for its top credit tier. Rumors have been floating around that it was enhanced again in early December. Whether it has or not, the money factor that is being used to calculate your truck's monthly payment is a little on the high side.

    I am not personally all that familiar with what the market is like for this model in your neck of the woods, but I have seen community members report getting larger discounts than the one that you were quoted for this truck. If there is another Lexus dealer or two in your area, it wouldn't hurt to comparison shop a little bit to see if you can beat this deal. Just make sure to finalize your lease before the "December to Remember" program ends on January 2nd. It is difficult to say what Lexus' lease program will be like in January.

    Car_man
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  • sls1sls1 Posts: 36
    How do you calculate the monthly amount using the money factor?
  • Car_man - thanks for the response. I've got two deals in the works for the same car. 36 month, 12k miles RX350 FWD with NAV.

    Deal 1:
    MSRP 44123
    Selling price 37987
    MF .00133
    Residual 56%

    Deal 2:
    MSRP 44123
    Selling price 37825
    MF .00133
    Residual 56%

    Are these good deals for Southern California?

    Thanks!
  • For those in NY...just now closing on the 400h with premium plus package & NAV package. MSRP is $49,866. MF is 0.175 or 0.165 if qualify for Tier 1+ credit. Residual is 58% for 12,000 miles. I'm buying from Lexus of Manhattan for $46,000. Lexus of Larchmont and a NJ dealer offered the car for what they said was basically cost -- $45k. I did a ton of haggling and called a number of dealers, so i think this is the best deal you can hope to get. In the end, i could only get Manhattan Lexus down to $46k, but they have the car in stock & I need it for the holidays, so I'm going with them. I'm having the dealer add XM satellite for $775 (would have been $650 at Larchmont -- oh well).

    Hope this info helps. Good luck shopping.
  • Thanks Car_Man

    I felt that it was a little high. Consumer reports suggest bottom line pricing at about 34k to 35k for a base model. I'm thinking that I should wait until the end of the month to see what kind of deal might be available here in the Atlanta area.
  • I've had better offers for the exact same 400h both in NJ. My best offer so far is $44,500 MF 0.0065, 58% Res., 12k miles. Invoice on that car is $44,658. If you go elsewhere jimbonyc you may get a better deal.

    Let me know about your buying experience at Lexus of Manhattan. I've given them a shot a winning my business and I'm curious to see how things go for you.

    Thanks for the update.
  • I read a report about how the sales of hybrids have declined by 31% since August due to the decline in fuel prices and the expiration of the tax credit. Using this logic, shouldn't there be more "incentive" for dealers to move this model off their lots? Apparently the "Days to Turn" measurement for hybrids jumped from 6 in August to 11 days in November.

    Most of the dealers I've spoken with have a large inventory of these cars and I think they will be getting eager to move them soon. Anyone have any feedback or seeing something different?

    Here's the article
  • Thanks for the feedback... these guys are dealing, because I balked at their low trade in for my RX300... they offered a ridiculous $12,500, increased it to $13,700, then upped it again last night to $14K. I wanted Sirius radio but thought it was too expensive -- $895 installed -- so they lowered the cap cost of the car by $200 to $38,600. So I'm a happy camper, picking up the Flint Mica RX on Saturday.

    Will report back on my experiences!
  • 2 questions:

    1. Here's the deal offered by both Crown and Longo Lexus for a AWD Prem + PKG. Pretty nice deal, I believe. What do
    you think ?

    MSRP: 43,033
    Selling Price: 37,000.
    12K per yr.
    MF: 0.00133
    Residual 57%: $ 24,541.92
    Payment (Incl.7.75% Tax) $ 483.87

    2. Originally, I was going to buy a RX in the spring. Have you ever seen Lexus with a comparable offer to Dec. To Remember ? I doubt if the MF will be this low next year, even w/the 08 RX;s coming out. Any ideas?

    Thanks, Car Man.
  • cpa3cpa3 Posts: 88
    Darballman1

    Based on what you presented your lease payments dont calculate out correctly to $483.87. I came up with $461.45 which includes the sales tax. Looks like they tacked some extra charges in there. What about the $600 lease fee. Where is that. Even adding that in it still fall short of the $483.87
  • jennbbjennbb Posts: 10
    I've browsed the deals posted here. I'm in CT.
    Here's what my local dealer quoted me:
    RX350 awd w/ premium pack (no nav)
    MSRP: 43,033
    got that down to initial cap cost = $38,600
    $952.00 cap cost red ($2K total down incl. tag, title etc.)
    12K/yr
    $505.75/mo including 6% sales tax
    money factor = .00153 and that's where I'm confused. I see in this board the Dec to Rem MF should be .00133

    Does it vary by state or did he assume I'm a slacker? He didn't check my credit. I'm sure it's pretty high.

    I called a dealer in NJ that said they'd deliver me the car and beat the price. Skeptical there, how can it not cost to deliver the car?

    I plan on renegotiating anyway because I think I want the nav system. why not.
    thanks for advice...
  • Yeah, I definitely left a little money on the table. Between selling price ($46k at Manhattan Lexus vs. $45k offered in Larchmont), Xm Radio ($125 more at Manhattan) and taxes, left about $1300 on the table. But, the Mahattan dealer has the car and I need to travel at the holidays, so figured i saved about $500 on plane tickets/car rentals and saved a lot on the hassle factor. Plus, I spent a lot of time at the Manhattan dealership. They did not hammer me with a constant sales pitch -- no high pressure selling. They were very professional, knowledgeable, and the sales guy I dealt with was a great guy. So I thought they also deserved the business vs. the other dealers who spent 10 minutes on the phone with me.

    So bottom line seems to be that Manhattan Lexus does not offer the best deals (at least early in the month) but they are easy to deal with. Good luck!
  • Hi... just finalized my rx350 deal with Lexus of Manhattan, and while they were more expensive for the sat radio, they were negotiable and ultimately came in under Larchmont. Also like the NYC guys better... the Larchmont guys seemed a little smug. So I'd push the NYC guys... agree that they are professional, low pressure, easy to deal with. Finance mgr. did NOT try to lard up the deal with phony extras, either.
  • jennbbjennbb Posts: 10
    Couldn't wait for responses.

    I put a deposit via phone w/ dealer in NJ.

    RX350 awd w/ nav
    MSRP: 45,706
    initial cap cost: 40,600
    $0 down
    12K/yr
    mf: .00133
    monthly payment incl sales tax = $498

    car's waiting for me when I'm ready to take a road trip.
  • Hey Car_man, thanks for the reply. I've gotten two more offers via email, and they both had 0.00165. I can't anyone on the forum that has a lease offer for a RX400h for 0.00133, only RX330 or RX350. I emailed the dealer and asked if the 0.00133 is what I should be getting. They'll probably get back to me tomorrow.

    I'll post again when I see the numbers. Thanks again.
This discussion has been closed.