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

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  • You're very welcome, sbh. I'm glad that you enjoy this discussion so much. The best way to tell if a lease that you are considering assuming is a good deal is to compare its monthly payment to how much a similar brand new vehicle would cost to lease. It is difficult for me to come up with an exact comparison because I don't know how the model that you are considering is equipped, so for now I will just make some assumptions. According to my calculations, if you were to lease a 2008 Lexus RX 350 AWD that has an MSRP of $43,867 and a selling price of $39,684 ($750 over invoice) through Lexus Financial Services right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $534. As you can see, the lease that you are considering assuming is a pretty good deal, especially since you won't have to pay the security deposit, acquisition fee, etc... Plus, it's shorter than the lease that I worked up. The only downside to assuming it is that the truck isn't brand new.

    Car_man
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  • Hi brianwinchell. Are the prices that you mentioned in your post these vehicles' MSRPs or selling prices? The best way to get a good deal on a lease is to know what both of these numbers are. That way you can tell how much of a discount the dealer(s) that you are working with are giving you. I would be happy to give you my opinion of these deals if you let me know what these prices are. I think that the $450 per month target that you have for your truck's payment is a little too optimistic.

    Car_man
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  • Hi ckm1515. I don't know what the maximum allowable money factor mark-up for Lexus Financial Services, but as far as I am concerned it might as well be zero. I personally would not lease one from a dealer that was trying to mark my money factor up. There's enough competition out there that one should be able to find a Lexus dealer that will lease them a 2008 RX 350 using its buy rate lease money factor of .00195 (for Tier 1+ customers).

    Car_man
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  • Hi Ray. You never mentioned the selling price of the RX that you are considering leasing. This is an important number 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 the price of the truck that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what its selling price is.

    Car_man
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  • Here's the latest info for you, fx4me. Lexus Financial Services' current buy rate lease money factor and residual value for a 24 month lease of a 2008 RX 350 FWD without the entertainment system with 12,000 miles per year are .00195 and 63%, respectively. The numbers for an otherwise identical 36 month lease are .00195 and 57%.

    Car_man
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  • Hi jgebs. $688 per month sounds high to me as well. The truck that you are interested in has a spread of around $5,000 between its full MSRP and its dealer invoice price. You are only being given a $2,500 discount on it, so there may be a little room left to negotiate. Make sure to stop by the "Lexus RX 350: Prices Paid & Buying Experience" discussion to see how much other community members have paid for similar trucks lately. I wouldn't be surprised if you were able to shave at least another $30 per month off of this truck's payment.

    Car_man
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  • Wow, motis, $759 per month to lease an RX 350 :surprise: . That's way too much. Let's work up a sample lease payment on a similar truck and see what we come up with. According to my calculations, if you were to lease a 2008 Lexus RX 350 AWD with the Premium Plus package that has an MSRP of $41,625 and a selling price of $37,957 ($1,000 over dealer invoice) through Lexus Financial Services right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $538. Even at $2,000 over invoice, the payment only increases to around $567. As you can see, the payment that you were quoted is waaaaay too high.

    Car_man
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  • Welcome ahk9. This looks like a good deal to me. Not only are you getting a substantial discount on the RX that you are interested in, but the dealer that you are working with also used Lexus' August buy rate lease money factor to calculate your monthly payment. I personally don't see anything wrong with pulling he trigger on this one.

    Car_man
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  • Hi lidocayne. I am not personally all that familiar with what the market is like for the RX 400h right now, but you certainly aren't being given much of a discount on the one that you are interested in. Three hundred bucks, why bother giving any discount at all at that point? Have you tried shopping around with another dealer or two in your area? If would be worth it to see if anyone else would provide you with a bigger discount. Also, make sure to stop by the "Lexus RX 400h: Prices Paid & Buying Experience" discussion to see how much other community members have paid for similar trucks lately.

    Car_man
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  • Hi ksrp. Your understanding is correct. Vehicles' residual values are set by banks and individual dealers really do not have the authority to alter them. Dealers do however have the ability to mark-up vehicles' money factors. That is why it is important to find out exactly what the buy rate should be for any vehicle that you want to lease before finalizing your deal. Unfortunately, I don't believe that Lexus is providing lease support on the RX 400h in September. As a result, if you were to lease one through Lexus Financial Services, you would have to use its standard lease money factor. I believe that its buy rate standard money factor varies slightly by region, but it probably is around .00285 right now for consumers who qualify for its top credit tier.

    Lexus still charges interest on one pay leases, but it provides a .00100 reduction in the money factor that is used to calculate the interest portion of the lease.

    Car_man
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  • Greetings to the appropriately named rxlease. You never mentioned the selling price of the RX that you are interested in leasing. This is an important number 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 the price of the truck that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what its selling price is.

    Car_man
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  • Hi Ross. It sounds like you are new to leasing. If so, 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. They will explain everything that you need to know to get a good deal.

    The best way to get an attractive lease on a vehicle is to negotiate as low a selling price as possible and then have the dealer that you are working with calculate your monthly payment using its buy rate lease money factor. Lexus Financial Services' current buy rate for a 36 month lease of the '08 RX 350 is .00195 for consumers who qualify for its top credit tier.

    Car_man
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  • Hey JT. I believe that both Lexus Financial Services and Mercedes-Benz Finance provide consumers with money factor reductions for multiple security deposits and advance pay leases. Lexus Financial provides a .00010 reduction for every additional deposit and a .00100 reduction for an advance pay lease. The last time that I checked, Mercedes-Benz Finance provides a .00007 money factor reduction for every additional security deposit and a .00110 money factor reduction for an advance pay lease.

    Car_man
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  • Will check it out. Many thanks!
  • 03qx03qx Posts: 19
    So you are saying on a one pay lease the money factor goes from .00285 to .00185?

    Also, do you have the 2008 Rx400 Lease rate and residual.

    Thanks
  • hey car man,

    was wondering if you can help me out. i received this quote from a texas dealership for leasing an 08 rx 350 nav + premium.

    sell price $42,200

    36 mo
    15k miles
    $0 down, $759 due at signing
    $759/mo

    OR

    36 mo
    15k miles
    $4000 down (includes 1st pmt)
    $659/mo

    I feel like this is extremely high!? Any advice is much appreciated.

    Thanks!
  • Hi Car_man. Can you please explain to me what is meant by "one pay leases"?

    Thanks.
  • one pay lease means you pay for the lease up front, in one lump pmt.
  • hey car man,

    was wondering if you can help me out. i received this quote from a texas dealership for leasing an 08 rx 350 nav + premium.

    sell price $42,200

    36 mo
    15k miles
    $0 down, $759 due at signing
    $759/mo

    OR

    36 mo
    15k miles
    $4000 down (includes 1st pmt)
    $659/mo

    I feel like this is extremely high!? Any advice is much appreciated. I am supposed to sign on this car in 2 days!

    Thanks!
  • 03qx03qx Posts: 19
    CAR MAN

    Please , I need 2007 and 2008 Rx400h Money factor & Residuals. Both AWD & FWD.

    Thanks
  • Hi Car man,

    Just wanted to verify that this info is still current:
    2008 RX350 FWD ( no dvd or nav )
    36 month, 12k miles / yr
    .00195 / 63 %
    and

    24 month / 12k miles / yr
    .00195 / 57%

    I just got quoted a ridiculous payment on one of these puppies and I just want to have my facts straight before going back in there. I was quoted .00295, $910.36 due at signing, $774/mo, on a $40891 MSRP RX350.

    Needless to say, I know they're off their rocker, but I just wanted to verify my info before hammering away.

    Thanks Carman - you rock!

    LB
  • Sorry, forgot to ask:
    What fees does LFS charge? Aquisition / sec deposit, etc?

    Thanks!
  • re: leasing rx350

    $774/mo is ridiculous!

    I was just quoted $597/mo for 36 months. $0 down. Exact same MSRP.
  • Thanks for the info Car_man. I'll use it next time I'm at my Benz dealer, which if my wife has her way will be very soon.
  • Car_Man Need 2008 Rx400h AWD+FWD Residual and Money Factor on a 36 mo 12k Lease. Thanks
  • I will be test driving the RX 350 this weekend in NJ. If I like the vehicle, I would be interested in leasing over 36 months. I would want AWD with Premium plus luxury package, navigation, 18" wheels. The MSRP is $45,706.

    The invoice is probably around $40k or so. What would be a good purchase price? I didn't know if there were any current dealer incentives which they are getting from Lexus corporate. I was reading about people getting below invoice, but there must have been incentives which the dealer was getting.

    Thanks so much, any help would be greatly appreciated.
  • Does anyone know the October money factor and 3 yr depreciation for the RX 350? I am not sure if its worth waiting for the "December to Remeber" event. The interest rate might be better in December, offset by a slightly worse depreciation. In addition, I don't think there are any current dealer incentives, ie. holdbacks, etc. If there are any, I would greatly appreciate if you can let me know.

    Any suggestions would be greatly appreciated.
  • Hey guys, newbie, so be nice.

    Buying a 2008 RX350 with Nav, Heated Seats, 7-spoke wheels, Premium Plus, Tow prep, Cargo mat, wheel locks, MSRP=$44,416.

    First dealer offer = $41,416 ($3000 off sticker). I know Invoice is $39,133. I am in Raleigh, NC, so only 1 dealer.

    Anyplace in nearby states, where I might be able to get a better deal? I see some of you getting close to Invoice.

    Thanks for any help.

    regards...chris
  • In Los Angeles, my friend got the same msrp 2008 Rx350 for $ 5800 off !!!
  • Thanks everyone - I have learned so much from this website.

    I was just provided the below lease amounts for the RX 350 with prem plus, navigation, etc. When I calculate the lease, I am getting a monthly amount of $531.90. The dealer is showing $537.73. I am subtracting the Cap reduction from the negotiated price. Does that make sense?

    Here is your break down from the dealer:
    List ............... $45866
    Residual......... 58%
    Money Factor.. .00195
    Selling Price .. $41452
    Cap Reduction. $1618
    Bank fee ........ $600
    Registration ... $320
    Doc Fee........ $198.50
    Credit Bureau. $18.50
    NJ Tire Tax ....... 7.50
    1st Payment .....$537.73
    Total out of pocket 3300.23
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