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

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  • scrapluvscrapluv Posts: 5
    $46,825 MSRP
    $42,700 Cap
    $750 rebate
    $1,500 down
    .00245 MF
    48 MO/15K miles
    $595.00/MO

    What do you think?
  • samm3samm3 Posts: 5
    please give your dealr name,what opts do u have have on your car?
  • sxylxysxylxy Posts: 29
    The dealer offered the certification. They buy it from Lexus for about $1K, so it's a little more for the consumer.

    The increased tax in Cali amounts to $200-$300 more for our purchase, but the Federal stimulus will save us about $1,000 on a new car (you can deduct sales tax from your income).
  • vandyman4vandyman4 Posts: 15
    Hi:
    Try Eric Saltz at Warnock in East Hanover. Great price and servce. Tell him Jon S. sent you. wILL GIVE PRICE OVER THE PHONE. Flawless car and took just 10 minutes to sign all the paperwork.
    GOOD LUCK.
    JON
  • smarty666smarty666 Posts: 1,503
    The previous posts are correct, NJ Lexus dealers are offering much better dealers/figures then PA Lexus dealers and are willing to work with you compared to PA dealers for example on a new 2010 RX350;

    NJ Lexus Dealer: MSRP: 43,265: $3000 down/$560 a month for 36 months/ 12k miles a year: 0.9 interest rate - this is out the door including everything

    PA Lexus Dealer: MSRP: 43,265: $3000 down/$620 a month for 36 months/ 12k miles a year: 6.0 interest rate - this is NOT out the door and didn't include tax, interest, etc

    I was shocked by the PA Lexus and when I told them they had to do better they told me no, that was as good as it was going to get for tier one credit

    Obviously I'll be doing my business in NJ rather than PA; never thought I would see the day when I would say that
  • vandyman4vandyman4 Posts: 15
    Hi:
    Try Eric Saltz at Warnock in NJ. I just leased the same one at a much better price with less out of pocket. 10k miles per year. All included and all done on the phone.
    JON
  • gophersgophers Posts: 4
    I've contacted the NJ dealer and am getting the same interest rate that every other dealer is giving. Where are you seeing this .9% number? They state the only way to lower the Lexus offering is to do the multiple security deposit thing.
  • vandyman4vandyman4 Posts: 15
    Hi:
    Did you speak to Eric Saltz? Yes, the interest rate is standard but the amount of discount on the car is high. What was your quote>
    JON
  • gophersgophers Posts: 4
    It appears the .9% interest quoted by smarty777 is not for the RX, but the IS or ES... apples and oranges.

    I spoke to the NJ dealer and am not getting any better interest, basically the same discounts as other places. I was keying in on the .9% interest thinking that was a valid quote on an RX.

    I was told to wait for the golden sales event to start (around July 24) and that interest *might* go down. Anyone hear rumors of this?
  • Does anyone know a Lexus dealer where I can lease a 2010 RX 350 now. Don't need GPS, so am looking for 36/36 with paying only 1st month and start-up costs
    and with payments of $479 tax included

    Thanks for any help and advise
  • thorsthors Posts: 35
    I am in south florida, palm beach county, probably leasing vs. purchasing the 2010 RX 350, but need help on some of the technical aspects of leasing and understanding some of the things I see here on the board... :confuse:

    MSRP $42,546 (this seems to be a popular combo of options as there were quite a few of these same equipped vehicles in the showroom and what it includes is good for me)
    have not neg. yet, but using Edmunds TMV looking at my target $ of 39,600 (is this reasonable?)

    FWD
    Prem
    back up mirror
    19" wheels
    h/c seats
    wood/leather steering wheel/shift knob
    mats
    net
    wheel locks
    cross bars

    Please bear with me on my questions....

    from readiing, looks like the MF changes monthly...what is it for Fla for July? (I am not a current lexus owner)
    how do they figure the residual %? what should I expect?
    what is the MSD? I saw an earlier post that said it's good to put down 9 months worth??
    From what I read, really shouldn't put a lot "down" on a lease/want to keep the out of pocket low correct?

    Golden Opportunity Sales Event....saw it on the main Lexus webpage, but no specs about it....will there be specific "deals" coming out? Are they just advertising that "it's coming"?

    We have been to the showroom, know the vehicle, and would like to avoid spending our life in the dealership negotiating...see here many people are dealing via internet. How exactly is that done? Would appreciate any advice/how to on internet negotiating! The salesperson did tell us that most of their customers lease...

    Sorry to have so many questions, but really want to be prepared.

    THANK YOU! ;)
  • smarty666smarty666 Posts: 1,503
    Yes you are right, I apologize, the 0.9% is on the IS and ES; I meant to say 2.9%. The percentage in NJ is still better in PA. 6% in PA is absolutely outrageous to pay on any vehicle when most of the other luxury automakers are offering 2.0% or lower and especially considering how poorly car sales are doing right now with the way the economy is; you would think Lexus would do what they can to match the interest rate of other luxury automakers in order to increase their sales; if you want to pay almost 6% interest on top of 6% sales tax be my guess; by the time the Lexus dealer is done screwing you around you'll be paying $50-60 more a month, which will really add up in the end
  • juliank20juliank20 Posts: 1
    I have an offer from a dealer for RX 350 AWD with GPS for $550/mo $3413 due at signing. Is that a good deal? Car cap price $40795 (thats $500 below invoice). What do you think?
  • sxylxysxylxy Posts: 29
    I think that your offer is reasonable. I just turned in my 2007 RX350 and got a new one for $42.2 w/Prem, Comfort, NAV, cross rails, etc... ($46.1 MSRP) Very happy with it. I looked at many, many cars before making my decision, and Lexus really represents a nice blend of safety, mileage for its size and comfort.

    You may have trouble finding the heated and cooled seats without the "Comfort Package". It was hard to find here in Southern California for me anyway. The vehicles typically came in one of three variations.
  • thorsthors Posts: 35
    Thanks! It's funny....there are a bunch of RX's in the showroom with that exact configuration, so guessing they think that may be a good seller here in S. Fla.....gotta tell you, the idea of cooled seats here sounds very enticing!!! :)

    I have been looking at a lot of similar/smaller suv's and am finding it hard to beat...price is higher, but looks to be worth the extra when you really start comparing.....

    Dealer e-mailed me back he can make me an offer just a litttle over invoice, he'll show me the invoice to earn my business, so we will see......we cannot go in until next week, but getting all my Edmunds ducks in a row! ;)
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi hockey_man. Lexus Financial Services' buy rate lease money factor for the 2010 RX 350 is still .00215. Keep in mind though that this is a special money factor for loyal customers. Its factor for non-returning customers is .00255.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Yes, scrapluv, the special lease money factor on the 2010 RX 350 is only available for up to 36 months. Lexus Financial Services' 48 month buy rate should be around .00255.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi thors. Lexus Financial Services' current buy rate lease money factor on the 2010 RX 350 for non-returning customers is .00255 for consumers who qualify for its top aka "Tier 1+" credit tier.

    This truck's residual value varies by term, trim level, and mileage allowance. LFS' current 36 month, 15,000 mile per year resid for a 2010 RX 350 FWD without the entertainment system is 57%.

    MSD means multiple security deposits. LFS lets lessees make additional deposits on their vehicle, with each extra deposit (up to a maximum of nine) reducing the money factor that is used to calculate their vehicle's monthly payment by .00010 (the last time that I checked). Making MSDs is a much better way to lower your vehicle's monthly payment than making a capitalized cost reduction. Unlike down payments you actually get MSDs back at lease-end.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • thorsthors Posts: 35
    Car_man...thank you for your information! We are heading to the dealer later this week to see what's what...taking my Edmunds homework with me is...... ;)
  • thorsthors Posts: 35
    Car_man,

    Sorry - a quick question on the MSD....when I am ball-parking/figuring out my probable lease payments (thanks again to your helpful calculators!), where do I plug in the $ amount of MSD's I plan to make? Let's say, for example:

    Cap cost is $39,000 (let's say MSRP is $42,500)
    Residual 57% (I'll use yours)
    MF is .00255 BUT I want to make the max MSD's of 9, making my MF .00165

    Where does the MSD $ come off when figuring? Or am I just missing the boat here? :confuse:

    Thank you!
  • kyfdxkyfdx Posts: 28,056
    The MSDs just change the money factor... To get the difference, just use the lower money factor in your calculations..

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • thorsthors Posts: 35
    Thanks.....

    Am I correct in assuming just like all other security deposits, you just pay the amount up front? Do you write a check to the leasing company for the amount?

    As I am researching, I am noticing lots of ads (throughout the country) that have lease deals with $0 security deposit....so......what kind of $ are we looking at putting down then? How do you know how much then they will be and do all dealers do this? :confuse:

    Thanks!
    :D
  • Hi everyone,

    First post here... Can I please get some feedback on the following quote?

    RX350 FWD w/ Premium, Navi, 19" wheels, wood/leather steering whl, heated/vent front seats, 12 spkr for Nav, cargo mat, wheel locks

    MSRP: 44428
    Negotiated Price: 40809
    Residual: 59%
    Money Factor: .00183 w/ 9 x MSD
    acquisition fee of $700

    Final drive off of 5850 (MSD) + 556 (Title, reg, lic) + 602.34 (1st month) + 49.39 (doc fee) + 8.75 (tire fee) = 7066.48

    602.34 a month incl tax for 36 months at 12k/yr

    How does this sound to you guys? Many thanks in advance...
  • NRINRI Posts: 11
    this vehicle has two config only no Nav and with NAv. rest everything is standard.
    I assume you are talking of 2010 model and I would expect a good offer is $550/mo rest everything remaining same.

    I have a 2090 Rx 350 with NO NAV for 450/month + 1651( final drive off ). this transaction is from Jan, 2009
  • pop90210pop90210 Posts: 1
    Did you get a response to this? I'm looking for a very similar deal in the NY/NJ/PA area.
  • redhat381redhat381 Posts: 24
    The discount for MSD used to be .0001 for each additional deposit for a total of .0009. Did they decrease the amount of discount? Can anyone confirm this?

    Also, I know Lexus and BMW have MSD discounts. Does anyone else? Acura, Volvo, Infiniti...?

    Thanks.

    For each additional multiple security deposit (MSD) you put in, your MF gets reduced by .00008. Lexus allows you to put down up to 9 months of MSD, for a maximum reduction of MF by .00072. This is what I did. So my final MF turned out to be .00143.
  • luvdealsluvdeals Posts: 3
    Hi Car Man!
    Great job answering everybody's questions. Your contribution is immense, very much needed and greatly appreciated.

    My first series of questions are about August numbers and specials that LFS is offering on 2010 RX 350 (MSRP: 42287). Specifically, what is:
    - the Money Factor for returning and non-returning customers?
    - Residual value for 10/12/15k. Is it still 60/59/57% respectively, or does it change?
    - Can I still put down 9 MSD and how much does each one bring the MF down by? I read different posts quoting different #s just for July: from .00008 to you saying it's .00010. However, I went to the dealer today and they first said the currect MF is .000365! I quoted edmunds and you and they came down to .000255 (and later .000251 - what is up with different MFs? :confuse: ). Then they supposedly didn't know about the maximum of 9 MSDs. They said the max was 4. Then they came back and said it's actually .00008 and I saw my monthly payment go up on the screen. I was kinda disappointed and left with no deal. There are so many ways the finance manager, and ultimately the dealer, can make a profit on the lease (on top of making a profit on the car itself) by lying and withholding information, it's insane! :surprise:

    Where do you get your info and is this something that I can check myself? Is this info available in the public domain?

    Also, I called LFS and they told me that it's up to the dealer to work out a lease contract and terms and they accept whatever the dealer submits. In other words, the dealer can lower MF or raise the residual value if they choose to do so. Is this true? If the finance manager is fine with raising the MF, then he is lying when he says that he can't lower it.

    Thank you very much for your help! ;)
  • Hello-
    I am new at leasing. Just wondering what a good lease deal on Lexus AWD 2010 rx 350 msrp 43,475 is. We have excellent credit and were offered 36 months 12,000 a year 3,000 down and 599 a month. Should I be paying more like 560 a month? (quoted from lexus in edison nj ) thanks
  • vandyman4vandyman4 Posts: 15
    Hi:
    Bad deal. I just leased the same car for 585.00, 10 k miles per year, 1800 out of pocket including 1st payment from Warnock in East Hanover.
    JON
This discussion has been closed.