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

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  • yes, you were right about the 12k miles 36 months $0 down just inceptions with tax included from Prestige.

    the way i see it is we have an 05 mdx with the same msrp and identical lease terms that we lease for 484. there was one more model year after that before the body change, same as this rx.the price of these trucks havent changed at all during the past few years, so I would wait for the 09 if you're not in a rush to do something. I'm sure that we can get the same deals, if not better.

    the msrp was 42945 and their selling price was 38700. they kept telling me that the MF hasn't been out since 06 which was making me crazy. i was doing calculations and if they used the .00140 and sold the car for 38000 or something the price would be 498. i told the salesmanager i didn't want to pay the 538 and he goes where would you like to be under 500...490.498?He said the exact number so I'm sure that they could do that deal. I may be wrong about the selling price that they used and what I thought they should use, but I will post it again when I find the sheet I had it on. Have you had any luck??
  • jebelljebell Posts: 54
    Does anyone know if the February MF and residuals have changed at all? I am looking at a 08 RX350 AWD with nav 12K/36M. Thanks all.
  • jebelljebell Posts: 54
    Car_man;
    Are ther February MF and residuals out yet? I am looking at a 08 Lexus RX350 AWD with nav,. 12K/36M
  • I'm seeing who's interested in taking over a (17month) lease on an 2007 RX350 AWD fully loaded mint condition. I negotiated a great deal but would like to go back to a sports car.

    MSRP: $47K
    Payments: $567 including tax
    Months remaining: 17
    Current Mileage: 13,350 (36,000 allowed for the lease)
    Miles Allowed per month: 1,332
    Location: Santa Monica, CA
    Jet Black with Tan interior
    Navigation
    Bluetooth
    Heated Power Seats and Power Rear door
    Moonroof, Woodgrain Steering Wheel
    Backup Camera
    All scheduled service has been performed at the Lexus dealer. No scratches or wear, has never been smoked in, garage kept.
  • Are Lexus' current offers for California a good deal?

    $479/mo. for the RX350 FWD with options FV, HH, NV, PT, WL, C1 and TO
    $499/mo. for the RX350 AWD with options FT, HH, NV, PT, WL, C1 and TO

    Each requires $2500 down for 12K miles per year.

    FV = Liquid Graphite Finish 18" 7-Spoke Aluminum Alloy Wheels
    FT = 18" 5-Spoke Aluminum Alloy Wheels
    HH = Heated Front Seats w/Rain Sensing Wipers
    NV = Navigation System
    PT = Premium Plus Package
    WL = Wheel Locks
    C1 = Trunk Mat
    TO = Towing Prep package

    What do you think? Would there be room to negotiate an even better deal once at the dealership?
  • It sounds like a pretty good deal (better than what we have locally). Where in California is this offer?
    Thanks
  • Just noticed the current "Special Lease Offer" on the Lexus website. It says:

    Now through March 31st, special leases are available on the
    stylish RX and the technologically advanced RX Hybrid. For
    details, see your Lexus dealer.

    Does anybody know money factor, residual, and most of all, what a lease payment would be like in southern California at this time for a well equipped RX400h at 15,000 miles a year, 36 months? Any help would be appreciated : )
  • pm79pm79 Posts: 13
    While this is the advertised lease, I am not sure if the SoCal dealers are quoting these prices. Please let us know if you get the same or better deal from a local dealer.
  • Is this a good deal?

    MSRP: 45,887
    MF: 0.0014
    Negotiated price: 41,000
    First month payment and Title fee: 640
    Down payment: 2094
    Doc and Acquisition charges: 650
    Residual: 56%
    Lease trams: 36 months

    Payment without tax: 477 per month.
  • was that deal on a RX350 or a 400h?

    I'm looking for a decent lease deal on a 400h now, but I'm not seeing anything - a few quotes around 650-750/mo, which is pretty outrageous.
  • I believe that MSRP is probably for a fully loaded 2008 RX350. I'm looking to lease the RX400h myself, with an MSRP of about 51,500. Could you please tell me where you got quotes for 650 to 750, how much down they were asking for, and for how many miles? I'd really appreciate it.
  • My local dealer gave me those mid-6 numbers based on Costco pricing, but that was last fall, and included drive-offs in the 5K range. An online broker quoted me the highest - 760/m with 1800 drive-off.

    The problem is, all the cars are arriving with nav, and I don't want that package - if I can get my hands on a car with premium+ and wood, that would knock a few grand off the cost.

    I know someone who works for Toyota corporate, but we're not close :( I want to ask them if they can do an employee deal for me, which should be right around invoice, I believe, which should put my cost in the mid-upper 5s with 1500-2000 down. Much more reasonable.
  • This was for RX350. I tried to bring them below Invoice, but they didn’t agree as this was a lease. Is that true? Are they not getting incentives for Lease deals?
  • they are lying to you - the best approach is negotiate the price without letting them know if it's a lease, cash sale or finance. When the sales agreement is done and signed, you tell them to build a lease based on that number as the cap cost.

    If they refuse, then you can tell them they're crooks and walk out...if they agree to do the deal, but change or fudge the numbers from what was agreed on, grab all the paperwork, walk out and send copies to your state's consumer affairs department.

    Unfortunately, I think it's much easier to get a below invoice deal on a RX350 than 400h in most places, simply due to supply and demand.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    HI srose4. The best way to get a good deal on a lease is to shop around and negotiate as low a selling price as possible on the vehicle that you want and then have the dealer that you decide to go with calculate your monthly payment using your vehicle's buy rate lease money factor. You never mentioned what this truck's MSRP or selling price are, so it is difficult to say how good a deal it is. You are in an area that has a decent level of competition. If I was in the market for an RX in your neck of the woods right now, I personally would shoot for a selling price of $500 over invoice and see what happens. You can look up the dealer invoice price of the exact RX that you want by visiting the New Vehicle Pricing section of Edmunds.com.

    Once you arrive at a selling price that you are comfortable with, have the dealer that gives it to you calculate your monthly payment using a money factor of .00145. This is LFS' buy rate for a 39 month lease of an '08 RX 350 leased by someone who qualifies for its top credit tier in your area right now.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi jebell. What part of the country are you in? This matters because Lexus' lease program for the RX 350 often varies by region. In the Eastern U.S., where a lot of the recent posters in this forum seem to be from, Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2008 RX 350 AWD with navigation, but without the entertainment system with 12,000 miles per year are .00145 and 53%, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi peterman. The lease payment for the truck that you are interested in will vary depending upon what its MSRP and selling price are. I will work up a sample lease payment for you using an MSRP of $45,505 and a selling price of $41,104 ($500 over invoice). According to my calculations, if you were to lease a 2008 Lexus RX 400h AWD without the entertainment system with these options through Lexus Financial Services right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $637. This will give you a ballpark idea of what to look for when shopping.

    Car_man
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  • jebelljebell Posts: 54
    Thank you. I live in NE NJ. Yesterday a Lexus dealer told me the buy rate is .00145 and residual of 55%. He also said the rate with Haan financial was .00245 with a residual of 55% but with Hann he would sell the car for $2420 less so the monthly rate would be $39 less. MSRP $45866. Selling price with LFS $41900 and with Hann $39480. Only other difference is a $495 disposition fee with Hann. BTW, doc fee is $249 which is high.
    The 09s are on the lots-are the MF and residuals the same for a like equiped car? The MSRP is $115 higher for the 09RX350AWD with Nav,prem plus, no entertainment.
  • lgarneslgarnes Posts: 6
    From what dealer?
  • gx470818gx470818 Posts: 16
    Could you people please specify whether it's RX350 or 400h when you mentioning pricing info here? It get very confusing when you don't. Thank you. :mad:
  • gx470818gx470818 Posts: 16
    I'm in the market for a 400h, a so cal dealer has qoute me a price for a loaded 2008 2-wheel drive for $44,900, is this a decent price? Obviously these is still more room for bargaining but is these guy being sincere? Thanks in advance.
  • I'm aware that right now there is a $2000 dealer incentive on 08 rx350's so what im trying to find out is how likely my scenario is to being possible.

    I was hoping to haggle down the car which has a msrp of 44,000 to 38,000 which is 1k below the invoice. Have many people had luck getting the full 2k under invoice in light of this incentive?

    Secondly, I've been told that it's best to establish the price of the car and once you have an offer inform them that you are wanting to do a lease on the figure determined. How likely are they to work a lease out for 1k under invoice? I see that a stipulation of the Dealer incentive is that it can not be combined with another LFS lease offer but assuming i dont mind not qualifying for the lease offer can i just focus on the dealer incentive?

    Lastly, I havent really dealt with a lease before but what is the minimum otd you can achieve assuming top tier credit? I'm guessing at least 1st months payment + acquisition fee but I can't find anywhere that tells me exactly. Thanks for all the help sorry if the questions seem novicelike.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    No problem, jebell. The reason that the dealer can sell you the RX that you are interested in for less money if you lease it through an independent bank instead of Lexus Financial Services is that Lexus is providing $2,000 dealer cash on it right now. This cash is not compatible with the special LFS lease program, but you would be able to take advantage of it if you lease through an independent bank.

    Lexus is not currently providing any support on the 2009 RX. It is focusing its support on the remaining leftover 2008 models to help dealers clear them off of their lots. As a result, if you were to lease an '09 RX through LFS you would have to use its standard lease program. Its buy rate standard money factor for a 36 month lease is .00235 for Tier 1+ customers in your area right now. You definitely would be much better off going with the '08 model.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi gx470818. It's difficult to say whether the selling price that you were quoted for the 400h that you are interested in is attractive without knowing with its full MSRP, or better yet its dealer invoice price is. You can look up that information by visiting the New Vehicle Pricing section of Edmunds.com. Let us know what either or both of these numbers are and I am sure that someone here will share their thoughts on your deal with you.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi iceburnztt. If you are in an area that has a decent level of competition, I personally would not be surprised if you were able to negotiate a selling price of $1,500 under dealer invoice after taking the $2,000 dealer cash into account. Unfortunately, you would not be able to use this price on a lease through Lexus Financial Services. The two grand dealer cash is not compatible with Lexus' special lease program. If you want to use it, you would have to lease through an independent bank, which some community members have reported doing.

    On a lease through Lexus Financial Services, you would have to pay your vehicle's first month's payment, its $600 acquisition fee, and any required state taxes or fees at lease signing. You should be able to roll the acquisition fee into your truck's capitalized cost to make it part of your monthly payment instead of paying it at signing if you want. If you go with a bank other than LFS, the acquisition fee and security deposit requirements will be different.

    Car_man
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  • jebelljebell Posts: 54
    Prestige in Ramsey NJ
  • jebelljebell Posts: 54
    Thank you very much. In my area the 08s are nearly gone. Only one dealer in three (Prestige) has any. My wife ONLY wants Brandywine Mica with Black interior so I will have to go with an 09. I wish she would get a job. :D
  • jebelljebell Posts: 54
    In the interest of full disclosure, be aware lgarnes is a salesman at Prestige Lexus in NJ. I think everyone should know this
  • Hello, I am looking to lease a rx350, and am looking for current residual values and MF for the chicago area, to calculate my monthly payments. I am looking for 10, 000 or 12K miles a year for 3 or 4 years. Is there a specific website that lists current numbers?
    Also, does anyone have typical cap costs I can expect from chicago dealerships? thanks for the help.....
  • gx470818gx470818 Posts: 16
    Car Man,

    According to Edmunds.com, MSRP is $48,085, invoice is $42,497, therefore this guy is quoting me $2500 above his invoice. Again my question is "is this a decent deal, a good deal or a lousy deal" Thank you.
This discussion has been closed.