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

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  • RE: erickrn

    Is there any way you could post the money factor and residual the dealership gave you?? I cant find the january special rate anywhere on the internet. That deal you were offered sounds good to me (dont know about taxes etc).
  • lee0001lee0001 Posts: 24
    Can you please tell us the vehicle options?
    AWD?
    Premum?
    Navigation?
    etc?

    thanks...
  • jebelljebell Posts: 54
    Car man,

    I am looking at a 08 rx350 AWD, prem plus and nav. Would like to lease for 36 months, 12k miles per year. Can you tell me the current money factor and residual? Thanks.
    I have read dealers are pushing these out the door and selling for below invoice in California. Does anyone know if this is true for New Jersey?
  • jebelljebell Posts: 54
    Steve or tidester,

    Could you please answer post #829 if you can? Thanks.
  • I leased an 08 RX350 AWD on 1/21/08. I live outside of DC. NAV, prem plus, 18 inch wheels, towing pkg and trunk mat I believe.

    MSRP 45880
    Sales price: 41500 which included all fees ($1064)
    MF: .00165 - they told me this was the best rate going, Tier 1+ (735 Fico score)
    Residual: 54% (12K miles a year)

    Love the car.
  • Hey. I just got a quote from a miami dealership for the 2008 RX350 - premium package - 12k miles/36 mos., $5k total down (including first month); $354 a month... good deal??
  • cwaynecwayne Posts: 81
    leasefax.com has a add in the wall street journal with lease rates under $500 per month for 36 months on the rx350 including delivery plus tax and title. i called them and the guy said this price was on the rx with premiun plus ($40,000-41000) . has anyone had any dealings with this company?.
  • I have not, but unless its a very reputable company, I'd avoid 3rd party stuff.

    Take a look at this web site, its the dealership where I bought my Rx. Theyre advertising 489 a month, 2.5K down with a 43K msrp.

    http://www.pohankalexus.com/AboutSpecials

    Thats going to be in the same neighborhood as the special you found, I would imagine...
  • eights38eights38 Posts: 137
    arbitrage1 - I would agree with you that some third parties are shady, but there are some very strong auto brokers trying to help customers receive aggressive prices by utilizing volume incentives and strong dealer networks. I have had some good experiences in the past and am more than willing to pay a small fee to have a third party negotiate with local dealers to get me a fair price.
  • bmwnj2bmwnj2 Posts: 2
    Hello,
    What is current money factor, residual value for 2008 RX350 (24/36 month, 12K)?

    Thank you
  • bmwnj2bmwnj2 Posts: 2
    Does Lexus still offer multiple security option? Anybody with recent lease used it?
  • Congratulations on getting your new RX 350, Scott. I;m glad that you found this discussion so helpful. Thanks for taking the time to stop back and share the details of your lease with everyone. Real world examples like this are always helpful to others who are in the market for similar vehicles. Make sure to stop by the new Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience. Enjoy your new ride :shades: .

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Here you go, jebell. Lexus Financial Services' current buy rate lease money factor and residual value for a 2008 Lexus RX 350 AWD without the entertainment system with 12,000 miles per year are .00140 and 55%, respectively for consumers who qualify for its Tier 1+ credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hey jebell. Please see my previous post for the information on this truck's lease program that you're interested in. Lexus is not currently providing any cash incentives on leases of the RX 350, so it may be difficult to get one with a capitalized cost that's below dealer invoice. Like California, New York area is a very competitive marketplace for new vehicles. If I was interested in leasing an '08 RX 350 in your area, I personally would shoot for a selling price of a couple hundred dollars over invoice.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Congratulations on getting your new RX 350, arbitrage1. Thanks for taking the time to share the details of your lease with everyone. Don't forget to stop by the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on the dealer that you got your truck from. Thanks again and enjoy your new Lexus.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi gabe57v. Let me begin by saying that $5,000 is a lot of money to put down on a lease. I always advise consumers not to make large down payments when leasing. Those who make them risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered. You would be better off going with a zero down lease, even though it means that your monthly payment will be higher.

    As far as this lease goes, it is difficult to tell how good a deal you are getting without knowing what this truck's MSRP and selling price are. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. If you are in an area that has a decent level of competition, you should shoot for a selling price of a couple hundred dollars over dealer invoice. You can look up the invoice price of the exact model that you want by visiting the New Vehicle Pricing section of Edmunds.com.

    Once you have negotiated a selling price that you are comfortable with, have the dealer that gives it to you calculate your vehicle's monthly payment using Lexus Financial Services' buy rate lease money factor. LFS' current buy rate for a 36 month lease of an '08 RX 350 is .00140 for consumers who qualify for its Tier 1+ credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hello bmwnj2. Here's the information that you're looking for. Lexus Financial Services' current buy rate lease money factor and residual value for a 2008 Lexus RX 350 AWD without the entertainment system with 12,000 miles per year are .00140 and 61%, respectively. The numbers for an otherwise identical 36 month lease are .00140 and 55%.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hey bmwnj2. The last time that I checked, Lexus Financial Services did still offer a MSD program. If provides a .00010 money factor reduction for every extra deposit made, up to a maximum of nine.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • jebelljebell Posts: 54
    Thank you very much. I am very thankful to have found this forum. Two dealers in NJ have told me the buy rate is .00165 and their encore rate is .00155. Do I call them on it or could have the Lexus dealers in NJ agreed to this rate?
  • i too have been getting this run around. what dealers are you working with? when i called them out they said the .00140 hasn't been around since dec 06
  • jebelljebell Posts: 54
    Ray Catena, Freehold NJ
  • jebelljebell Posts: 54
    And Lexus of Bridgewater, NJ. You?
  • Thank you to everyone for the information on leasing the 2008 Lexus RX 350. We have been scratching our heads for the past week trying to figure out why the lease payment the dealer is quoting us is $638 (including taxes) when he says he is selling us the RX 350 at invoice ($38,600 for an AWD vehicle without nav or rear entertainment). The MSRP for this particular vehicle is $43,800. Here in Utah, we can only choose from 2 different packages. All vehicles sold in Utah are AWD with or without navigation. He says this monthly payment of $638 is based upon a money factor of .00255 and a residual of 58%. This money factor seems incongruent to the actual rate he quoted. He commented that my credit score qualifies for the top tier and that the associated interest rate is in the high 3's. This is also quite different from the money factor that I have been seeing on this site (.00144). Even when I crunch the numbers with the higher money factor, it doesn't crunch out to a payment of $638. I have also been reading on this site that Lexus Financial does not have a very good lease program. Help!! Maybe it is better to buy than to lease.

    Thanks in advance for your help.
  • prestige. now the sales manager has been in contact with me and they keep insisting the MF was .00140 over a year ago. He is using .00165. i don't NEED to do anything today, next week or even next month. They started at 568 w/tax for 12000 miles and just inceptions upfront. now he came back with 538 which is still too much. how about u?
  • jebelljebell Posts: 54
    I don't NEED to do anything until March. Bridgewater says 563 w/tax and 800 down, gross cap cost 41000 for 08 rx350 w/ nav. Catena is at 41400.
  • Hello again from the Great Salt Lake,

    I thought I'd check back in to share our experience with leasing the 2008 AWD RX350. Since we had not been able to make sense of the lease payment we made the decision to purchase the vehicle outright. That is, until we sat down with the finance manager. As it turns out, the computer at the dealership automatically pulled up 2009 money factors. This is why the payment they were quoting us over the phone was so much higher than what we were calculating (using the money factor and residuals posted on this site). When they plugged in the correct 2008 money factor the payment was lowered by $55 per month. So in the end we were able to get the vehicle at invoice ($38,600), 12K miles and a monthly payment of $579. So the moral of this story is Caveat Emptor!
  • fsosfsos Posts: 4
    Christina: I have been following your posts. Are you saying that Prestige has offered the RX (no nav) for 538 NJ tax included with nothing but first month, bank, TTL at 12,000? This strikes me as close to as good as it can get, give or take around $10 a month. Let me know your thoughts
  • fsosfsos Posts: 4
    Oh, and what was the MSRP (which package ) and invoice pricing that this was based upon??? Thanks
  • im looking for the best lease price i can find for the 2008 rx 350, 12,000 miles, tax included with navigation. Im pretty sure im getting ripped off with $653 a month for 36 months but im really not sure. thanks!
  • I was quoted a lease price of $600 a month (tax included) for a 2008 RX350 AWD with Premium Plus, Navigation, Rear Entertainment, 18" 5-spoke Aluminum Wheels, Heated Front Seats/Rain Sensing Wipers/Headlamp Washers, Towing Prep Package, Wheel Locks, and Cargo Mat. Lease offer is 39-month, 10K miles/yr.

    I'm located in the New York/New Jersey aread. Is $600 a good lease price for this package? They started at $675. Thanks.
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