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

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  • Hi berisky. MSD stands for Multiple Security Deposit. Many banks, including Lexus Financial Services, allow consumers to buy down the money factor that is being used to calculate their vehicle's monthly payment by making extra security deposits. LFS will provide consumers with a reduction of .00010 in the money factor that is used to calculate their vehicle's monthly payment for every additional deposit that they make, up to a maximum of nine additional deposits. Security deposits are equivalent to your vehicle's original monthly payment rounded up to the nearest $25 or $50 increment. Unfortunately, multiple security deposits are not allowed in New York. Making additional security deposits is a great way to lower your vehicle's monthly payment because unlike a down payment you actually get the money back at the end of your lease.

    Car_man
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  • Hi berisky. This particular discussion is for consumers to discuss leasing the Lexus RX 350. You will probably have better luck finding an answer to your question about the installation of Sirius in your truck by visiting the following discussion: "Lexus RX 350".

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  • Hi calculus. Yes you can lease the Lexus 400h that you are interested in in California if you like in Washington state. The only difference between you leasing this truck from a California dealer and an actual California resident doing so is that you will have to pay Washington sales tax on it instead of California sales tax.

    Car_man
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  • Greetings vrosa. How much time is left on your RX lease? I ask because it is usually fairly expensive to get out of leases well before their scheduled end dates. In order to do so, you need to purchase the vehicle that you are currently leasing from the bank that you are leasing it through. It often turns out that it costs more to do so than your vehicle is worth on the open market. Furthermore, many banks expect consumers who end their leases early to still make all, or at least the depreciation portion of their remaining lease payments. As you can see, this can get very expensive.

    You can determine approximately how much it will cost you to get out of your current lease by comparing its purchase price to its value on the open market at this time. You should place a call to the bank that you are leasing your vehicle through to find out its exact price. Once you know exactly how much money it is going to cost you to buy your leased vehicle you need to compare it to its current value on the open market. You can find out approximately what your vehicle is worth by looking up its Edmunds.com True Market Value in the Used Vehicle Pricing section of this site. You also may want to stop by the following discussion for feedback on your truck's current market value: "Real-World Trade-In Values". Don't forget to check to see if you are still on the hook for your remaining lease payments. The difference between your leased vehicle's current value and how much it will cost you to buy it plus any remaining lease payments that you are obligated to pay will equal the cost of getting out of your lease right now. You may find that you are better off waiting until you are closer to the scheduled end of your lease to get another vehicle or try to sell your current one.

    Car_man
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  • Hi zerogravguy. Here is some information on Lexus' new January incentive program for you. Lexus is no longer providing lease money factor support on the 2007 RX 350 this month. It replaced its special money factor on this model with $1,250 dealer cash. This dealer cash will help you to negotiate an attractive selling price for the truck that you want, but if you want to lease it through Lexus Financial Services, you will have to use its standard lease program. LFS' buy rate standard lease money factor varies by region, but it should be around .00275 right now for consumers who qualify for its top credit tier. Its 48 month, 15,000 mile per year residual value for the 2007 RX 350 is currently 44%. For leases with only 12,000 miles per year, this residual value would be 2% higher. Let me know if you have any other questions.

    Car_man
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  • Hi amcdad. Lexus' lease program often varies slightly by region, but Lexus Financial Services 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 should be around .00203 and 54%, respectively right now for consumers who qualify for its top credit tier.

    Car_man
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  • hpthpt Posts: 3
    Never leased before and have a couple of general questions on Lexus leases:

    1. Now that I have missed the December to Remember event, is there another time of year that Lexus runs a promotion with similar incentives or is the December event pretty much it?

    2. A co-worker who leased a Lexus (an IS I think) told me that a couple of years into the lease, Lexus offered her the option of turning in her car for the current year model with no increase in payments (just extending the lease essentially, but with the newer car). Is this a fairly common occurrence? Is there a catch?
  • Hi there. I'm considering a lease on a Lexus400H. I've gotten a quote from lexus of cerritos of $45,700 sales price and a lease payment of $757.67 for 48 months with a $2k down payment. What do you think?

    Anybody hear of leasing through SouthBank and know anything about it?

    Thanks so much,

    Alexis
  • cpa3cpa3 Posts: 88
    Doesn't sound like a good deal to me...I would think you should be able to get that car for closer to $40K...The payment also seems high...What is the money factor they are quoting you? Try Newport Lexus I leased mine there in December and they offered the best deal at that time. There have been lots of bad comments on here about Cerritos.
  • apg97ssapg97ss Posts: 21
    very much depends on option packages. AWD drive w NAV rx400h at 45,700 is in ballpark of reasonable deal. this is about 1,000 over invoice. (no way this package would sell for 40k at least in east coast. that would be almost 4k under invoice.) please tell us what options are in.
  • sxylxysxylxy Posts: 29
    I almost leased through them. At the last minute, they didn't have the package that I wanted. A friend of mine leased through them 2 months ago and had a good experience. The 350 is going for $389 on their website. When I was looking, I could get the 400h for about the same as the 350, and then over the summer, there was about $100 difference in monthly payment, all else equal. With gas prices lower, I'd say they should be similar again. So look at what others are paying for a similar MSRP 350. $757 is way too high.
  • Hi again all. Options are AWD with premium package incl. Nav. SouthBank has quoted me $690 total/month (incl. tax) with $2,500 due at delivery.

    Thoughts?

    Alexis
  • My thought is that 45,700 is reasonable price for Nav,awd, premium plus pack, rx400h. best i have seen on this site is 45,500. if cpa3 thinks he can buy that car for 40,000, then you should let him buy it for you and pay him commission. i cant comment on how that price turns into lease rate
  • briegelbriegel Posts: 139
    Hi Car_man (or anyone else with the current info)! I would like the current money factors (and/or price incentives) and residuals on both the 2007 RX 350 AWD and the 2007 RX 400h AWD (no Nav or entertainment system), 12k miles/year, 3 years, purchased in California but leased in Washington state. Thanks again for the great info available on this forum!
  • I am considering an 07 but I hear that 08s r being delivered this month. Madison, NJ area 07s look as if they can be had a good deals. Where will 08s be initially selling closer to invoice or MSRP? Is there any inventory our there?
  • I've been shopping around for the same deal and the 54% is accurate but wasn't too sure about the money factor. I was thinking somewhere between 0.0020-0.0025 but good to know. Another problem I'm having is the invoice price on Edmunds. The '06 is higher than the '07 for some reason? Anyone else run into this? I know cars get more expensive every year but not sure whey edmunds shows the invoice for the '07 to be cheaper than the 06. Can anyone help me with that?
  • I am looking for a Money factor that would be used on a 1 payment lease for a 2007 400h. 36 and 48 months. 12000 and 15000 miles.

    Can anyone help me?
  • hello everyone, I will need a new car in about 2 months...with the information I provided below, what deal/monthly payment should I consider as a good deal, fair deal? thanks

    Lexus RX350 AWD + VN Navigation System/Mark Levinson Package MSRP $45,705 ($38,800 + VN package $6,190 + destination $715)

    I live in socal area (near pasadena), I'm considering a 48 or 60 months lease terms 15,000 mile/year

    down payment: from $4,000 (my pay off honda accord) up to $7,000
    my credit score is about 730 something

    my questions are:
    1. can anyone give me a rough figure of final sale price, monthly payment, down due at lease signed? suppose that i'm able to pay up to 9 Multiple Security Deposit (MSD) then what monthly payment will it be?
    2. I'm not sure if I need full coverage insurance for leasing a car or just liability is good enough?
    3. what lease but-out price is reasonable after 48 and 60 months?

    excuse me if my questions sound silly, i've never owned a new car before.
  • PS: the reason I'm considering a 48 or 60 month leasing is because the monthly payment I can make is about $500...but after 4 or 5 years later, i think i'm able to pay it off one time...I can only afford a $700-$800 monthly payment until 2 years later and before that i have to stick with my 10-year-old accord. i just wanna avoid paying to much interests for buying it that's all.

    am i wrong?
  • I've been working the same deal and the best money factor from Lexus Finance that I've seen is 0.00203 (4.84%) for top tier credit. The Lexus website has a promo for special lease financing for the GS,GSh, and RXh but doesn't say what it special rate is. The dealers will try to not give it to you so just keep on them about a better rate. What dealerships have you been working? Whats the best price you've seen so far?
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