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

2456791

Comments

  • Hey seekingdeal1. The selling price that you were quoted for this truck looks reasonable to me. You shouldn't make the $2,500 down payment or use the proceeds from your trade in as a capitalized cost reduction for this lease though. I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your insurance company pays off the bank that you were leasing it through and your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your Lexus would be exactly the same, regardless of whether you had put several thousand dollars down, or had made absolutely no down payment at all. If you still want to trade in your Maxima, have the dealer cut you a check for it rather than using the proceeds from it as a down payment for your lease.

    This dealer's profit has nothing to do with your down payment or trade. They make money when the bank that you are leasing this truck through purchases it at the price that you agree to. Plus dealers often can make additional back-end profit on deals by marking up vehicles' lease money factors. The money factor that you were quoted is very interesting because it is much lower than what this truck's factor should be. Something doesn't seem right there.

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • Thanks Car_man,

    I appreciate your view and expertise!

    Then your recommendation/suggestion is not to put money down except for fees. Then based on the numbers below what would be a fair/market deal?

    $43000 MSRP
    $40000 Sold
    36 months
    $24500 Residual
    Money factor: was quoted .0012 but could you state market rate.

    In reading above it sounds like I should hold on for December?

    Thanks
  • I am getting ready to look for a 2006 RX330 AWD lease for a 3yr/12000 miles and live in an area with accessibility to atleast three different dealers. I have read on this board that Lexus will be offering some better deals starting Nov 23rd. Can someone confirm this....and also it would be helpful if I could get some info on the money factor(not sure how this gets calculated) and the residual amount on the above truck with premium plus options and 6 dash. It would also be helpful to get some approx. negotiated prices on the above vehicle with the said options.
  • Thanx Car_man.
    I've already leased the car. Below are the final numbers:
    MSRP $40,603.00
    Final Negotiated Price $36,101.00
    Acquisition Fee $600
    Tax 3%
    Doc. Fee $399
    Tags $69
    Residual 56%
    Money Factor 0.00235
    36 months lease w/15k miles/year
    With O money down-actually I paid for the tags and first payment, the monthly payment comes to $555.75
    What do you think?
    Thanx again.
  • I just got these rates from two different dealers on an RX330 with just premium plus and 6Disc. The first one was:
    MSRP - $43,359
    Sales Price - $40725
    Money Factor - 0.0025
    Residual - $29483.44
    Lease amt -$ 599 with $1599 at time of signing.

    The second one was:
    MSRP - I don't remember!!
    Sales Price - $39250
    Money Factor - 0.0025
    Residual - $25581
    Lease amt - $559 with $800 odd at time of signing.

    Can someone tell me if I am getting ripped or should I negotiate some more...

    Thanks
  • The above rates for a 36 month/ 12000 miles lease agreement
  • Don't have a clue as to actual price, int rates, just told them, I have excellent credit and wanted to stay around 500. per month. Figured from the posts I have read and all the deals made, that 500. per month would have to be a good price. How does that sound, or was that a bad idea.
    It's for a 2006 AWD, Premium pkg. Tx included
    30Months/ 10K - 527.00 month
    OOP - approx 1700. (the usually 1st month, acquistion etc..)
    Also, got a quote for 548.00 for 48 month/10K.

    Then got a call back and was told that "December To Remember" program was going to start right after Thksgvg and would probably get an even better deal, so I should wait, if I could. He would call me as soon as he gets those numbers.
  • I got a fairly decent quote from Prestige Lexus on Rt 17 in NJ. It's 30 months at $530 including 6% Tax with Hann Financial, 10 K a year. $450 disposition fee, nothing up front except first month and Motor Vehicle fees for plates and registration. MSRP of $43,400, 2006 AWD with Premium Plus package, CD-changer, Disks, Xenon lights and heated seats.
  • i'm getting a deal for a 36 month / 12K per year lease for

    $546/month with only fees upfront ($1604)
    or
    $512/month with fees $1570 and tax 1106

    do you think this a good deal for 2006 330 AWD with premium plus, heated seats, rain sensing wipers, 18" wheels.

    pls let me know, want to finalize tomorrow.

    thanks in advance.
  • Does anyone have the December buy rates for lease money factors and residuals for 24 and 36 month lease with 15K miles
  • You are correct, seekingdeal1. You can lease this truck without making any sort of capitalized cost reduction and it is in your best interest to do so. All most banks require consumers to pay at lease signing are their vehicle's first month's payment, a security deposit equivalent to that payment rounded up to the nearest $25 or $50 increment, their lease acquisition fee (Lexus Financial Services charges $600), and any required state taxes or fees. you don't have to hold off until December to lease the RX 330 that you're interested in, Lexus just introduced its "December to Remember" sales event on November 23rd. I don't know where the .00120 money factor that you were quoted came from, but it is much lower than Lexus Financial Services' new lease program for this truck. Its "December to Remember" sales event buy rate lease money factor for the 2006 RX 330 is .00225 for consumers who qualify for its top credit tier. Lexus is waiving its security deposit requirement for this truck right now as well.

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • The information that you heard is correct, natkat. Lexus did just introduce its annual "December to Remember" sales event on November 23rd. Its lease program for this truck through this new program is better than it was before. Its new buy rate lease money factor fora lease of a 2006 RX 330 is .00225 for consumers who qualify for its top credit tier. As far as prices go, I am not all that familiar with how much consumers have been paying for this model recently, but you should be able to get an idea by visiting the following discussion: "Lexus RX 330: Prices Paid & Buying Experience".

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • You're very welcome, nc_driver1. It looks like you got an excellent deal to me. You were able to negotiate a whopping $4,500 discount on your truck and your lease was calculated using what Lexus Financial Services' buy rate lease money factor was for it at the time. Enjoy your new truck and thanks for taking the time to stop back and let us all know how everything turned out.

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • Hi natkat. The lease money factors that you were quoted for this truck are slightly high, unless you don't qualify for Lexus Financial Services' top credit tier. At the time that you got these quoted, Lexus Financial Services' buy rate lease money factor was .00235 for consumers who qualify for its Tier 1+ credit tier and pay a security deposit. When Lexus introduced its new "December to Remember" sales event a few days ago, it enhanced its lease program on this truck. Its new buy rate lease money factor for Tier 1+ customers is .00225 and it is waiving its security deposit requirement. As far as your truck's selling price goes, you are being given a decent discount but I have seen consumers negotiate much larger discounts recently. You may want to stop by the following discussion to see how much other community members have paid for similar trucks: "Lexus RX 330: Prices Paid & Buying Experience".

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • Hi blane1. Lexus Financial Services' new "December to Remember" special lease money factor for the 2006 RX 330 is .00225 for consumers who qualify for its top credit tier. Furthermore, LFS is waiving the security deposits for all Lexus vehicles during this program. I haven't seen if it made any changes to its residual values yet, but I suspect that they are the same as they were.

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • Car_man,

    Can you tell me what I could expect for a 36/12k lease on a RX 330 AWD (Sticker $44k, sale price $39k) with the new 'December to Remember' money factor and residual.

    Thanks.
  • I just leased RX330 2006 without navigation from Lexus Messapequa on November 25,2005 for $589.00 pm for 30 months including all charges which comes to nearly $4800.It is zero downpayment. They told me my lease will be $429.00 if I pay upfront $4800. Can some one help me if this is right deal or if I can get better deal from some other place. The delivery will be made next week.
  • Hey Car_Man,
    I know this matter does not belong here, but I could not find a real discussion about leasing a 2006 IS 250. You should consider hosting a discussion on this theme.
    If you don't mind, do you happen to know what is the best interest rate, residual value and prices paid for an IS 250 RWD with a minimal package? I am interested in leasing one for 36mo/15k miles/year.
    Thanx a lot.
  • Just got a quote on a lease today for a 2006 RX 330 with premium package (no Navigation). $2,900 down (includes tax, title, 1st month, etc.) 42-month lease with 15k miles --- $589/month. I think we can do better. What do you think? The first number the dealer gave us was $659/month. This is the #3 dealer in the country. We live in NJ.

    Thanks!
  • HI Car_Man
    I need ur help. I just leased (on paper) rx330 2006 for $589 pm for 30 months with 12k miles each year with zero payment plus first month instalment and new plate.
    Residual factor is 68%. or $429 with $4800 with upfront payment. Is this a right deal or please tell how can I can maket it better. Money factor is .00250.
    thx in anticipation
  • With such residual and money factor you should do much better on the monthly payment. I assume the financing is with Hann. I got a quote (after extensive negotiating) for 30 mo lease with first payment and plate fee up front at $530 a month, Prestige Lexus on Rt 17 in NJ. Money factor seems a bit high, can someone help?
  • hi
    Did you pay any up front payment like me or just plate fee and first month payment of $530 only. I did not take the delivery so far. Would please help me how to proceed further with this car dealer? The dealer is insisting to take delivery tomorrow on Monday. Please help.
    thx a lot
    kblait
  • Hi Car_Man,
    Can you tell me what the lease price s/b on a 2006 awd, purchase price of 38,400.

    thx
  • I didn't get the car yet; I'm still shopping around. The quote I got was with no other fees up front besides first month and plates.
  • Car man, can you tell me what the residuals are for a 2006 FWD on a 48 month lease with 15k per year during the December to Remember sales evnt.

    Thanks
  • on the same car was quoted 539. month for 48m/12k yr, including txs, oop was approx 1700.
  • I noted your comments which I appreciate since I am about to go into the same type of lease. I have a rough quote of $550 a month which sounds good.

    New Question for you...

    I currently have a 20054 Lexus RX330 with a a lease due to expire in April and a buyout price of $25,618 from Chase Auto Lease.

    I want the dealer to take me out of this lease which he may be able to do.

    The car is in good condition with 38,000 miles. It has new tires, no navigation or fancy stereo. it has a moon roof, leather interior, etc.

    Chase does not seem to want to negotiate the price. I would like to end the lease now and pay it off.

    Your advice?
  • I'd be happy to help you out, highfidelity. According to my calculations, if you were to lease a 2006 Lexus RX 330 AWD without the navigation or entertainment systems with an MSRP of $44,000 and a selling price of $39,000 through Lexus Financial Services right now for 36 months with 12,000 miles per year, its zero down, pre-tax monthly payment should be around $509.

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • Hi kblalit. You never mentioned the selling price or MSRP of the RX 330 that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this truck's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion on this deal if you let me know what these numbers are.

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
  • Hi nc_driver1. I suppose that any posts on the IS 250 should go in the discussion about its predecessor, the IS 300. I haven't seen this car's residual values yet, but I can tell you what its money factor should be like. This is the most important number anyhow because dealers do not have the authority to alter banks' published residual values. If you were to lease a 2006 Lexus IS 250 through Lexus Financial Services right now for 36 months, its buy rate lease money factor should be .00245, assuming that you qualify for its top credit tier. There already is a prices paid discussion for this car: "Lexus IS 250/IS 350: Prices Paid & Buying Experience".

    Car_man
    Host
    Smart Shopper / Prices Paid Forums
This discussion has been closed.