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

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  • I am currently leasing an 2005 RX 330 Thundercloud and I am a month-to-month extension. I'm also under my mileage allowance. The car has not hit 36K yet and is about 39 months now.

    I have a quote from a dealership for the 2009 Lexus RX 350 - Pebble Beach Edition

    The long and the short of it is...two options

    $3,089 down with a payment of 498.00 per month (10K per year)

    $3,146 down with a payment of $512.00 per month (12 K per year).

    I really want 12K mileage, but like the $498 payment. They said these are my two choices and no other option. I know I probably won't go over the mileage but you never know what will happen in three years.

    Any thoughts or comments would be appreciated.
  • gx470818gx470818 Posts: 16
    On one hand, why pay for something that you might never use. On the other hand, you are talking about extra $16 bucks per month over 36 month period, that's not a lot of money, if you can't pony up those 16 big ones then why drive a lexus. :confuse:
  • kyfdx%40Edmundskyfdx%40Edmunds Posts: 25,862
    They said these are my two choices and no other option.

    The dealer will structure it any way you want, as long as they get the same amount of money.

    If you are fixed on the $498/mo. payment.. just tell them that you want that payment for the 12K/yr lease... They'll just take $14 X the term of the lease and add it to your upfronts...

    So.. another $500-$700 upfront, and you have your payment..

    I like to go with zero down.... but, if you are already putting $3100 upfront, another $500 isn't going to make any difference.

    regards,
    kyfdx
    Host-Prices Paid Forums

    Moderator - Prices Paid, Lease Questions, SUVs

  • chuckjrchuckjr Posts: 52
    I am hoping to get some clarity on leasing a certified pre-owned RX350 before I make a call to the dealer.

    I made a call into Acura and the finance manager made a simple statement that leasing a previous model year car would not be worth the savings because of the lower residual.

    Is this accurate or a moot point if I can get into an 08 for ~$32K, almost $10K below a new 09.

    Any and all info or experiences would be appreciated.

    interested in a 3 year with 12K miles a year (wife actually only drives about 8K a year).
    What would be the lower residual factor and would the money factor be different? I called the lexus 800 number and they said to call a dealer.

    thanks,

    chuck
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hey doc22steve. According to the latest information that I have seen, Lexus Financial Services' current buy rate lease money factor and residual value for a 48 month lease of a 2009 RX 350 AWD with navigation and 15,000 miles per year are .00145 and 44%, respectively for consumers who qualify for its Tier 1+ credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Just was presented with the following:

    2009 RX350 ($39,100)
    Premium Plus Package ($3,490)
    Delivery Fee: $825
    MSRP: 43,415
    Sell Price: $40,015
    Residual: 56% ($24,139)
    MF: .0016
    12K / 36 months
    $0 money down

    Payment: $587 (includes 9% PA tax). (@$539 without tax)
    First months payment, lease fee / registration: $1370

    What do you guys think? I ran the numbers and if I put $2500 down it would drop the payment to $513, I would rather not put that money down upfront.

    Thanks,

    Jack
  • dglozmandglozman Posts: 177
    Car man, could you please provide a lease information for 2009 RX350 AWD with Navi for 24-36 mo, 8K-10K miles.

    Appreciate your help!
  • dglozmandglozman Posts: 177
    Got an offer for 2009 RX350 AWD with Navi and heated seats, 3 years, 10,000 miles a year - $555 a month including NJ taxes ($1,358). Up front cost is $1,625 (first payment $555,Doc fee $199, Bank Fee $600 and motor vehicle around $300). Dealer claims that it is only $100 above invoice.

    I think this deal is fair.

    Suggestions?

    Thanks!
  • Dmitry,

    Looks like a good deal. See my post I have a 2009 RX no nav. My payment is $592 but I had to roll some money from my trade into the deal. Original was $572 with 9% PA sales tax included. Your deal looks good to me, maybe you can cut down the upfront costs by a couple hundred.

    I wish I could go back and work my deal a bit better. what are the specifics of the deal? MSRP / Sell Price / Residual Etc.
  • snavsnav Posts: 7
    2009 Lexus RX350 AWD Black on Black
    PP+/Navigation/Liquid Graphite/Heated seats/Rain sensor wipers/Towing
    MSRP: $46,241

    12,000 miles/36 months
    $609/month, $0 up front

    Based on 56% RF, 0.0015 MF
    Includes all taxes, tags, and title fees.
  • dglozmandglozman Posts: 177
    Unfortunately the dealer did not provided that information, but I assume that MSRP is $46,065.00, since based on Lexus website, there are only two combinations available for my area - one with navigation and one without (I assume that this is premium plus and heated seats). Dealer confirmed that. He said that AWD comes to NJ only with two configurations. Everything else is the special order.

    BTW the quote that I got was his response on the quote request that I sent using Edmunds. I did not even try to negotiate.
  • Looks like Lexus of Chester Springs got me for a few bucks more than I should have spent. I had a trade though, so some of that was absorbed. So did you roll everything into the payment (drive off costs)?

    Thats a good deal, especially since I dont have Nav and am paying 587.
  • car99car99 Posts: 3
    This is what a dealership in Bergen County, NJ offered:

    MSRP: $43,331
    premium plus package
    no nav
    Down: $0
    M Factor: .00145
    Payment: $500 including NJ 7% tax
    36 mth lease 12k miles/yr
    56% residual
    inception fees + 1st mo approx 1500, paid at closing

    Any thoughts?
  • snavsnav Posts: 7
    All drive off costs, taxes, tags, fees were factored into the monthly payment of $609. $587 is a bit steep, especially with no nav and a trade-in. Someone in the other thread mentioned that they got a car with MSRP $45,000 leased off of a $38,500 acquisition, which is the best I've seen yet.
  • snavsnav Posts: 7
    car99 - what was the sell price that the lease was calculated off of? It looks a bit high if you ask me. I've seen $485 - but that's still a pretty decent deal.
  • car99car99 Posts: 3
    Dealers selling price was about 39,500. I lowered to 38,900 to get to 500. Is your 485 w/7% tax, if so about 453 w/o tax
  • car99car99 Posts: 3
    gross capitalized cost 38801
    msrp 43591
    base+ PT HH FV TO C1 WL
    includes 1k loyalty rebate
    Edmunds has "invoice" 38535
  • 2009 RX 350 Pebble Beach Ed.
    MSRP $47,196
    Gross Cap = $41,533 (12% off MSRP)
    add $600 Acquisition Fee
    less $2780 - my down
    less $1000 - dealer incentive/rebate
    Adjusted Cap = 38,352.96
    56% Residual
    36 Month Lease
    .00145 Money Factor = 3.48%
    12,000 miles/yr
    plus I paid another $720 in title, tax on cap red, doc fee
    $460.11/mo w/o tax
    $495.77/mo with tax (7.75%)
    Orange County, CA
    (so $3500 out of pocket total not including 1st mo pmnt)

    Couldn't have done it without reading all of your recent posts. Thanks!!
  • snavsnav Posts: 7
    $500/month and 1500 inception fees for a car without navigation? These days, there is no market for a car without navigation in the entry-level luxury class. If you put no money down, that might work. Tell them you're not paying inception fees.

    I picked up my 2009 RX 350 AWD PP+/Nav, etc. today,and I thought I was getting a great deal with $609/month, 0 money down with a 12,000 miles/36 month lease on a 46,241 MSRP vehicle.

    Turns out the deal was even better! 15,000 miles/36 month lease for $600/month, 0 money down, 0.00145 MF, 56% RF!
  • I have a quote on a lease on the east coast as follows:

    MSRP: 46,241
    Selling Price: $40,750 (less $1,000 incentive for returning customers)
    Bank Fee: $600
    MF. .00155 (or .00145 at best rate)
    Residual of 54% (assuming 3 years 45K miles)

    I saw something online suggesting the residual was 56%. Can somebody confirm?
This discussion has been closed.