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

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Comments

  • cpa3cpa3 Posts: 88
    Doesn't sound like too good a deal to me. Too much missing information. I dont know where you are to determine if the selling price (cap cost) is appropriate. For Ca it might still be a little high. But the worse part is the $3500 down. If you assume the $3500 includes your first pmt, plus lease fee $600 plus DMV...that only comes up to about $1300...the rest is just paydown...So assuming a $2200 reduction in the cap cost the lease should come out to about $367 plus tax...for Ca that would be about $395 a month total...
  • I live in Miami, Florida. The dealership is in Pembroke Pines, Fl. I thought $3500 may be a bit too much. So you're saying my payment should be about $387 more or less w/tax?
  • cpa3cpa3 Posts: 88
    I think you should be able to do better. I suggest you contact a few dealers in your area via phone or email. Outline to them what you are looking for on the car and what lease terms. Tell them exactly what options you want. Those cars only come in a couple configurations in each area. Make sure you tell each one the same thing. Then compare what they tell you. Now you should have some idea of what can be done in your area. It actually best if you read this board thoroughly. Somewhere on here is a link that tells all about leasing and how to calculate your payment. Dont walk on a lot and deal with a salesperson...Its a waste of time in my opinion, unless you like to haggle or just give in.
  • Thank you so mch for your help. I called around to a few dealers and they pretty much had the same prices. I wanna see if i take away about $500-$1000 from the down payment and make it a 48 month lease maybe I'll be better off but that's assuming that with it being a 48 month lease the residual doesn't go down that much...

    Thanks alot for your help! :)
  • cpa3cpa3 Posts: 88
    Candy, if you go back several messages you can see my lease. I just leased on a 48 month lease. Yes the residual does go down (45%)however thats offset by the additional 12 months to pay off. In fact you should find your lease payment decrease by about $9 a month when you go to 48 months. Also thats a great way to go because the car is covered under warranty for 50K miles or 4 years...
    Good luck...
  • Thanks. I saw your post on the deal you got. So you only paid $839 plus the acq fee and first month payment which roughly is about $2000 out of pocket?? And I'm being quoted $3500 (including incep.) for a cheaper model than yours for 36 months and 12K miles... Yea I seriously have to go re-negotiate my numbers!!! :mad:
  • cpa3cpa3 Posts: 88
    No, I paid only $839 out of pocket which was my first months payment and the DMV fees. That was my total drive off I had to pay. The acq fee was added to my cap cost of $37000 plus $600. Also remember from what I have seen posted is that in Calif we seem to get better deals than some places in the country. I have three Lexus dealers within about 10 miles from my house. All have at least 50-75 of these cars sitting on their lots.
  • Should I take this deal?

    Lexus RX 350 AWD Premium package heated seats +
    List $43,056
    Purchase Price $38,700
    36 month/36,000 mile lease 57% residual
    money factor 0.00143
    monthly payment $514
    fees $750 bank fee, $600 security deposit, $200 doc, $165 registration
    single payment opt would reduce money factor to 0.00053
  • Ok so I did the deal
    07 RX FULLY Loaded
    MSRP $47.9K
    Sale Price $42K
    12K Miles/Yr
    36 Months
    Money Factor .00133
    Payment $561
    Prestige on RT17 In NJ
    Gap Insurance in the doc fees.
  • I am looking at one in DFW and was wondering what kind of deals people are getting... Thanks
  • Thanks to all the posters for the valuable information. Armed with this, I'm about to go get a deal on an RX 350. Is it better to negotiate price first and then get into the lease details? I'm aware that the Cap Cost will be determined by the price agreed on. Thanks
  • dsesqdsesq Posts: 6
    Can anyone help me out with this dealer? I saw some positive posts for them in NJ. I am looking for an 07 RX350AWD, Premium Pack, Heated Seats, NAV maybe if deal is right?..Can anyone who leased from them please share your deal? I live in DE but will go there as they seem willing to be aggressive. Many thanks!
  • jennbbjennbb Posts: 10
    I just came on to post my deal from them. It's Ray Catena in Monmouth NJ. There are a few Ray Catenas in NJ & NY. This one is near Perth Amboy (furthest from me unfortunately, took almost 3 hours) They asked me to send all my CT friends, I'm sure they won't mind some from DE :-) The guy kept telling me what a good deal I got. I was like, yeah whatever, I knew there were better ones in South CA. He said they will practically lose money on a deal to make their volume bigger end of month - their bonus is based on #of cars out the door. So now is the BEST time for you to go. I bet you can do better than my deal.

    I picked up my car yesterday. (OMG - I am in LOVE!!!!) but now to the details...

    I did everything over the phone.
    2007 RX350 AWD preminum + Nav - this thing is loaded, I found features I didn't even know about.
    $45,706 MSRP
    $40,600 negotiated price
    $0 cap cost reduction
    36 month term, 12K miles/year
    59% residual (I was sure 59% was for 10K miles and 57% for 12K, other dealers had told me this so I thought they made a mistake in my favor and would catch it on the paperwork, none of which I saw since I did a phone deal. Was sure they were going to bait-and-switch when I got there. They didn't. It really is 59% at 12K.)
    money factor = .00133 (until Jan2 with tier1+ credit, score over 730)
    monthly payment = $498.00 including 6% CT sales tax.

    I'm telling you. Call them. They'll deal. I'm certain you can even do better. They told me to get the word out - so you can tell them Jenn in CT told you.

    Sorry for the long post - I am just beaming. I couldn't be happier with this car or with the dealer. The place was fabulous but zooey - they had a garage the size of a mall full of cars that were all being picked up yesterday. Beautiful dealership too.

    Can't believe I'm driving this for < $500/month.
    If I had known how much I'd love it, I would have done a 48 month lease for even less. I think I'll just buy it at end of term.

    GO - GO NOW. And post your deal. I want to see how low they'll go.
  • dsesqdsesq Posts: 6
    Thanks Jenn - I will follow up with them this week! I'm not in that big of a hurry, but perhaps I should be....really appreciate the details....
  • jennbbjennbb Posts: 10
    From what I've read, the December to Remember promotion is a good one and only until 1/2/2007. The money factor is pretty low - equates to just over 3%, not bad for a lease. So it may pay to hurry. End of month is even better.

    Good luck if you're really looking (my husband thinks you ARE the dealer looking for people to promote them online)

    Hey - if you're not, that's a great idea. They have to know about this site - how can they not?
  • dsesqdsesq Posts: 6
    sorry, not that devious....just looking for a good deal...appreciate the info.....
  • Ethan
    Looking at your deal It seems great, I just signed the dotted line for the same car for 46,000 but my payments are 665.00 per month, want to buy from your dealer or request the same deal! What state are you in? I live in NY but went to NJ to purchase
    Thanks in advance
  • The deal got a bit better. The tier 1+ credit rate with a single payment discount was .00053.
    Thus, here are the final terms for the deal:
    Lexus RX 350 AWD--premium plus package with heated seats, 18 " wheel, tow prep, mats, wheel locks. MSRP $43,056
    Purchase Price $38,800, residual 57%
    36 mo/36,000 mile lease
    money factor for single payment 0.00053
    average monthy payment $431
    tax (6%) $26
    Acquisition fee, dealer fee, registration/plates --$1,020
    Total cost $17,200
    Dealer Lexus of Greenwich

    The selling process at Lexus of Greenwich was Great--no pressure and quick. I did the bulk of the negotiation over the internet and basically went into the dealership to sign the papers. This was a big improvement over the bait and switch/salesman tactics of the Lexus dealership in Westport. I probably could have gotten a better price (about $15/month at Lexus of Larchmont) but the Greenwich dealer offers free pick-up in Fairfield county for all servicing and is significantly closer to home and work.

    For those interested in the RX 350 the December promotion expires January 2, but you can delay delivery for 30 days as long as you have a signed contract by Jan 2.
  • dsesqdsesq Posts: 6
    Can anyone confirm the 30 day delivery? This would be very helpful....
  • Wanted to thank all the participants and hosts for the last two months of posts. I had shopped all the local dealers here in AZ and had really not found a satisfactory deal. Based on what I was reading here, I blanketed So Cal with emails stating exactly what I wanted (RX 350 AWD nav prem plus 12K/yr 36 mo for under $500/mo). I got mostly 'no way' emails but did find a few in CAl with a good deal. Right now I'm sitting on $514/mo with $572 drive off (first payment plus temp tags) and included delivery to me in Phx. I will have to pay local reg. This deal saved me about $4K over the lease term compared to the local deals. I'm very happy with this deal since I could only qualify for tier 1 (not tier 1 plus) financing.

    For newcomers, a few suggestions to help. First, the 350 really only comes with a few package sets so look at the MSRP as they are essentially the same across the country so you can easily compare deals this way. For example AWD/nav/prem+ is always $45,706. Second, compare both the monthly cost as well as the drive off cost. Some deals look great until you find out they paid $3K for drive off. Third, while it might seem presumptuous, don't be afraid to email a ton of dealers - someone has too much inventory somewhere and wants to deal. I only decided to do that at the last minute and am so happy I did - saved $4K. The delivery charge from Cal to AZ was minimal and added only cents to the monthly payment. Finally, listen to the hosts, they have been following all the deals for years or at lest months and can give you great insight. Good luck.
This discussion has been closed.