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

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  • I am trying to lease a 2009 RX350 for my mom. Here is the current deal and I am trying to determine if this is good or not:

    Nav system, no DVD
    36 month/15k miles
    First month pmt due at signing along with $200 or so for license (taxes and all rolled in)

    MSRP: 44,841
    Cap cost: 40,726
    Money factor: .00180
    ** The have to get the car from another dealership so they have some transfer costs
    52% residual

    Pmt: $598/month

    Any idea if this is any good and if not, where I should target?

    Thanks for any assistance!

    Shawn
  • Shawn -- you can do WAY better. Take a look at the other lease deals on the page and try to match them with your local dealer.
  • yeah i think i will wait till then. there are so many dealer i can use around here that i will let them fight it out at the end. worse comes to worse i will goto the local mercedes because i know the sales manager there and the amount of business referrals i send them!!
  • Hello Redraider1994,

    I am signing on a deal this afternoon for the exact same vehicle and MSRP. I don't have the exact cap cost for my deal but I can tell you the Money Factor is .00095 and 52% residual. My deal is for $1,100.00 Out of Pocket and $481.00p/month tax inc. So you could work on the Money Factor for sure. In case you may not know, tell them about the $1000 Manufacturer to Dealer incentive, to throw that in. I'm actually considering going with 12k per year to bump the residual up to 54% and save and extra $28 per month more. Hope this helps.
  • Could anyone answer this for me? I see the Cash to Dealer support at Edmunds has changed from $1000 to $2500 begining December 2nd. Is this correct?? Do we have and extra $1,500 to negotiate with? Anyone's quick response would be greatly appreciated as I am slated to sign a deal later today.... Thanks.
  • We were offered one with navigation, XM, Ipod hook up, 20,000 miles/yr with $1700 down for $699/month in a 36 month lease. Lexus told us the prepurchased miles are @$.20/mile, I know Acura and Infinity are $0.10/mile as we are comparing the Acura MDX and Infinity FX35. Is this a fair deal?
  • Think this is a good deal if it includes NAV and DVD for the payment. Can you give me all the trims when you purchased and out of door fees for your case? Tks.
  • sorry i forgot to add that the payment also includes the dealer absorbing the last 2 lease payments of my current acura lease for a total of $1232 so I could purchase now and not wait until my lease runs out. This is at a dealer in northern NJ.
    Thanks Dan
  • Thank you Dealmaker. I've been shopping for about a month. I shopped the deal around the other dealerships I had already negotiated with and only one would match it, not beat it, and only for a vehicle they had in stock which they didn't have. These are the terms I signed yesterday:

    MSRP $44,841.00 (DVD NAV, Premium Plus, Towing Pckg)
    Sell Price $37,698.50
    Terms 36/12k
    Money Ftr 0.00095
    Residual 54%
    Out of Pocket $1,100.00 (First month, Tag, Fees, Cap cost reduction)
    Monthly $481.00 tax in (7% tax)

    Reading the forum I have noticed that Regional location seems to matter for pricing pressure as well. I'm in Miami and Lexus is not struggling here. This was actually the only dealership which had the color combination I was looking for (smoky granite with black int.) and only had one. they are selling this vehicle rather easy here from what the dealerships have told me. They are more concerned with getting allocation for the 2010 RX.

    Hope this could be of help to someone down South if it's considered a good deal.
  • gordo025, still think you walked away for an excellent deal esp with woth low out of pocket and monthly and 12K per year and about 8K under MSRP. Is it AWD or FWD? Car shopping is a very stressing business and I am glad for you it is over and now to kickback and enjoy.
  • Thanks again Dealmaker. The vehicle is FWD. AWD is not seen much here. I actually asked at some of the dealerships for the AWD, since that's the vehicle I see most on the forum and can compare my deal to, but they only had a couple in stock. It's sold more up North I was told due to the different weather conditions.
  • Got a price on an 09 RX350 AWD with Nav and premium plus package, liquid graphite finish, heated seats, towing prep, cargo mat and wheel locks for $38000. Question one: Is this a good deal?

    Thinking of leasing, but dealer won't tell me the residual on this car, nor the money factor (which I read in a previous post is .00095). I'll cover tax etc., but not put any money down.

    Qeustion two: The dealer quoted me $493/month for a 3 yr lease with 12K . Without the residual and money factor I can't figure out if this is a good deal. Anyone have enough info on residual and money factor to let me know? Thanks in advance...

    CCB (confused car buyer)
  • Leasor310

    Not a good deal. I got almost the same car and paid just over 35.
  • JBO12JBO12 Posts: 8
    Timelockmind - what part of the country was this if i may ask? i think leasor310 is in the nyc tri-state area like myself. dealers here have been holding firmer on pricing.
  • indus2indus2 Posts: 20
    Blessendc, if you haven't finalized your deal, try Prestige Lexus in Ramsey, NJ... I found them to be most competitive around here. Suggest you give them a call, ask to speak with Internet Sales, and tell them you're ready to make a deal. I am not sure whether $1k dealer support still applies (I seem to recall the program ran through Dec 5th, and I dont know if Lexus extended it), nor whether the $1k Lexus coupon is still available.

    Good luck
  • indus2indus2 Posts: 20
    Timelock, glad you found info helpful. I expect that in 3 years you'll close the deal before me and I'll be able to take advantage of your terms :-)
  • I'm in Los Angeles. There are several dealers in the surrounding area -- almost all are willing to deal bare-bones. I never thought I would be able to get $9,000 off list on a new Lexus (this was due, of course, to the perfect storm -- the economy, a new RX model soon to be released, and the end-of-the-year inventory pressure.)

    Combine these factors with knowledge and the internet and you can save several thousand dollars on a purchase/lease.

    Thanks to everyone for sharing!
  • Which deal in LA did you get 9K off MSRP?
  • As to dealers... try Keyes in Van Nuys, Santa Monica Lexus, or Longo Lexus -- they are all in the ballpark. Just push hard (but respectfully) and keep your wits about you. And remember, I got my deal during the last few days of November. I believe the dealers will be even more motivated between Christmas and New Years.

    And by the way, someone mentioned that Lexus has increased the dealer cash back from $1,000 to $2,500. I have no idea if this is true or not - but if it is, perhaps someone will get the first $10,000 off list on this board.

    Oh, I almost forgot - my wife and LOVE the car (much better than our Mercedes ML350!)
  • Congratulations on getting your new RX, scottyb5. Thanks for taking the time to share the details of your lease with everyone. If you'd like, you can stop by the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience as well. Enjoy your new ride :shades: !

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi gordo025. That is correct, on 12/2 Lexus raised its dealer cash allowance on the 2009 RX 350 from $1,000 to $2,500. I believe that this cash is compatible with Lexus Financial Services' special lease program. If so, you do indeed have another $1,500 to play with in your negotiations.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • JBO12JBO12 Posts: 8
    Given the large discrepancy between prices of these autos in California and NYC, has anyone explored the idea of buying in CA and sending the car to NYC? What are the costs of shipping/insurance/others that ought to be factored in? Also, what might the implications for someone such as myself who is considering a lease under this scenario given that it would be a car from out of state?
  • I'm looking at the MSRP and Invoice pricing listed on Edmunds / Costco vs the Lexus website and the Lexus website MSRP is lower than the listed MSRP prices from other sites. Did they lower it recently? It's hard for me to judge the real invoice price of the 09 RX350 without the correct or updated info.
  • I just called my first dealer last night and got the following offer:

    36 month lease/15k
    RX350 AWD, Navi and Premium Package
    MSRP $46,241
    MF: .00075
    Residual - 52%
    Selling Price $39,178
    Total due at signing - $1,526.25
    Monthly payment (x35) - $499

    After one call, this seems too good to be true. Any thoughts?
  • briegelbriegel Posts: 139
    I did this four years ago with Lexus of Riverside (CA), having my RX 330 shipped up to the Seattle area for about $600 and leasing it through LFS...very smooth transaction! Shipping costs may be more now, and NY is probably 2-3 times the distance, but it may still be a money-saver. The Internet Manager at Lexus of Riverside handled the whole thing...check with him. Other California dealers will probably do the same thing. Good luck!
  • Hi leaser310. Here's the information that you need on Lexus' lease program. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2009 RX 350 AWD with Navigation without the entertainment system are .00095 and 52%, respectively for consumers who qualify for its Tier 1+ credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • womblewomble Posts: 28
    Hi, I know a lot of people leasing toyota highlander hybrids because they claim the lease prices on the rx400h are still high. No-one on this forum seems to be talking about the 400. I'm about to start researching my lease for a new 400h I have a 2006. Is anybody still buying/leasing these cars? Are they being left behind by flex fuel suvs? I LOVE my 400 altho the steering is squirrelly but I want a good deal on a 2009 or I would consider another car. I would imagine it's an absolute buyers market right now. Any thoughts welcome!
  • I am going to the dealership on Saturday morning so if anyone, especially Car Man, can give me any thoughts on the following deal:

    I just called my first dealer last night and got the following offer:

    36 month lease/15k
    RX350 AWD, Navi and Premium Package
    MSRP $46,241
    MF: .00075
    Residual - 52%
    Selling Price $39,178
    Total due at signing - $1,526.25
    Monthly payment (x35) - $499

    After one call, this seems too good to be true. Any thoughts?

    Also, I was thinking of adding the rear dvd player but the deal said they don't residualize them. Has anyone had any luck having them residulalized? Thanks in advance.
  • Hey KMS
    i've been looking for deal on a similar car and no one so far i dealt with, came close to that deal. if that price is with tax i think its a good deal. Im no expert like the others on this board but i think its a good deal.
  • Thanks Blessendc. It was the first deal I received and it seemed too good to be true but thought there was something I was missing. It is with tax.
This discussion has been closed.