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

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Comments

  • After hassles with other dealers in Los Angeles, Finally
    got a RX350 from lexus of oxnard without any trouble. MSRP:41500, Cap cost:35660+600(acquisation). Put down
    $3825 for refundable desposit to lower the money factor
    to 0.00037(0.9% APR). Residual is 56% for 3 years/12K. The drive off cost is
    $400(DMV)+$406(first payment)+$3825(Multiple Security Deposit). Monthly payment is $375+$30(tax). If you live
    in southern CA, you can call their internet department.
  • moolmanmoolman Posts: 122
    you got a final money factor of 0.00037 after 9 MSDs. Does that mean you got a money factor of 0.00127, is this correct. I'm getting the lowest as 0.00133, so just checking to see if it got lower.
  • No, original is 0.00133. After MSD, it goes to 0.00037. That
    dealer seems to be eager to sell their cars.
  • moolmanmoolman Posts: 122
    you must of got an extra 0.00005 from them because doing the math. Each MSD is a 0.0001 off, so you should end up with 0.00043. How did you manage that, did specifically say there were going to give you a discount. I might try to get a better rate but I have a feeling they will tell me that it's the lowest that lexus financial will go. Unless you can verify otherwise. Thanks
  • I am pretty sure they told me 0.00037. But even with that number, online
    calculator shows $415(including 8.25% tax) monthly payment. Since they offered
    me $407, I didn't bother to ask why. Before doing MSD, they
    said I have to pay $477 and they were using 0.00133 at that time.
  • moolmanmoolman Posts: 122
    Hi,
    Does anybody know if the mileage penalty is negotiable or not. So far I'm being told that if I prepay the penalty it's 15 cents a mile, 20 cents a mile if I pay afterwards. Is this a lexus financial figure or is it negotiable.

    Thanks
  • Hey guys i am new to the board and have been looking for either a gs350 or rx400h. While the prices might be close for both cars with nav and other options, the lease prices are worlds apart. I was recently quoted by lexus dealer that he could give me the 400h with flint mica and nav for 534 a month.

    His offer:

    MSRP: 49,887
    Sell Price: 45,051

    36month/15k a year : 2500 down + (tax + inception fees) : $533.94 a month.

    Lexus leasing is kind of confusing to me because the gs350 lease i was quoted was always around 700-800 with nav and almost identical sales price. So can someone let me know if this is a good deal or should i try to go lower.
  • cpa3cpa3 Posts: 88
    Does anyone know what the deal they are offering is now? I went to MV Lexus and the best I could get out of the Sales Rep was they were discounting lease rates.

    I also noticed all the RX 350's had 18 inch wheels which was an additional $665 added to the list price. Can you get them with the standard wheels?

    Is there any other lease fees that are standard items to charge for other than the acquisition fee of $600? I see some have listed documentation fees and mis garbage fees.
  • Hi Sir,

    Did you put any Security Deposit on this deal? or It's just $850 drive off and that is it?
    I am trying to get the car tomorrow. Please advise. Thanks.
  • cpa3cpa3 Posts: 88
    Why does the interest portion of the lease payment calculation include interest on the residual value and the capitalized costs. It seems to me that the calculation is doubling up on the interest on the negotiated purchase price and then on the residual value. Is that because the money factor really doesn't correspond to a realistic interest rate?
  • Which salesperson did you talk to? Please advise as we are here to save our hard earned money. Thanks.
  • Actually, you are only paying interest on the average of the residual value and cap cost. Rather than adding them together and dividing by 2, that calculation is built into the money factor.

    Moderator - Prices Paid, Lease Questions, SUVs

  • Reminder...

    You may include the dealership name, city and state in your post. Please do not post names of salespeople, telephone numbers, email addresses, or other contact information.

    Moderator - Prices Paid, Lease Questions, SUVs

  • $ 850. TOTAL drive off/nothing else.

    483. a month AWD.....
  • I would go to Longo Lexus. They offered 487. incl.tx. w/ a Capitalized cost of $ 37,200.

    Crown Lexus in Ontario wanted to beat Longo. Here's their offer: Cap. cost: 37,000. 483.(incl.tx) and change w/800. total drive off.

    Both dealers did not add any "extras".
  • moolmanmoolman Posts: 122
    Following the lead of redhat381, in the same format I will list my details. I followed his advice and got a great deal too.

    Once again, this seems to be a So Cal deal, since the car seems to be way under invoice in this area.

    I too did the 9 MSD's.

    36 month lease with 18k per year.

    $471.48 per month with 9 MSDs and no cap reduction...

    MSRP: $44,146
    Sales price: $37,500
    Acquisition fee: $600
    Registration, license: $335
    Document prep: $48.71
    Other fees: $8.75 (California Tire Fee)

    Lease info:
    Gross Capitalized Cost $38,100 (sales price + acquisition)
    Current Money Factor for 36months 18K: .00133
    Discount for putting down 9 refundable security deposits: .0009
    Final Money Factor: .00043
    Residual = 56% also minus $1350 for 9000 extra miles at $0.15. I'm doing 18K/year.
    Total monthly payment with 8.25% tax = $471.48

    I paid for first months and title at drive off. That's it.

    Side note, I got 56% residual at 15K instead of 12K unlike redhad381. Don't know why, I didn't complain but the norm seems to be 56%/12K, 54%/15K.
  • cpa3cpa3 Posts: 88
    Moolman,

    what dealer did you buy from and what dealers did you check with? I am from OC and will be buying one shortly.

    Thanks
  • Why is your monthly at 471.48 AFTER putting down 9 RSDs ?
    That seems high compared to what deal I was offered. (See message # 283.) I am putting ZERO RSDs,(850 total down). with a MSRP of 43K, cap. cost of 37.2K for a payment of $ 487. Maybe the diff. is me going with 12K per yr. ? The residual is 24,545. With you putting that chunk of cash down and only $15. less a month, something is not computing here. I live in Orange County, and the tax rate here is 7.75%, so that makes a little difference. But, even with thed difference in mileage from 12K to 18K and $ 186. more in sales tax still wouldn't make up for the extra thousands
    you are putting down.
  • Darballman1 -

    Moolman's monthly w/o 9 MSDs would be about $531.

    Your monthly with 9 MSDs, based on the numbers you provided, s/b about $426. (provided you actual cap cost is $37.8K, including $600 acquisition. Otherwise your numbers don't work out right.)

    You would be saving about $61 a month with the 9 MSDs according to my calculations, or $2,196 for the duration of the lease.

    Since your 9 MSDs would be $4,050, that would be a return of about 14.5% a year. This return is also non-taxable.

    I don't know about others, but I don't see too many risk-free (or close to it) investments with guranteed non-taxbable return of 14.5% a year for three years.

    Hope this helps.
  • cpa3cpa3 Posts: 88
    What is the risk of not getting your money security deposit back? Why do you think Lexus would be willing to give you a 14.5% return on the deposit...? Just curious because it sounds like a good deal for us. Gives them some protection in the case you destroy the car or not in good condition when you return.??
This discussion has been closed.