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2013 and earlier Lexus RX 350 / RX 450h Lease Questions
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Comments
MSRP $44,123
Sell Price $38,764
36 month lease term
15K miles per yr.
Total due at lease signing $1,560.77
(includes 1st payment, DMV and $600 bank-fee)
Residual (55%) $24,267.65
Money Factor .001750 (w/ No Security Deposit)
Mo Payment incl. 8.25% Tax $555.31
Base MSRP* $38,800.00
• Standard Features
Available Packages $3,538.00
• Premium Plus Package - Luxury Value Edition with Additional Options
Delivery, Processing & Handling Fee† $695.00
Total MSRP** $43,033.00
We agreed for $39,000.
Bank Fee $600
Documentation $199
MF - .00085
MSD - 525*9=4725
DMV - $262
36 months
15 K Miles a year
Residual = 56%
Lexus credit card points to buy a new car = 50,000.
Lexus credit card points to make 5,000 payment to dealer = 25,000.
So this deal gives me $750 on my Lexus credit card, which I should be able to spend during my lease period for any service.
I used Lease Calculator on Internet - which gives me a payment of 500 a month, but dealers lease calculator calculated 503 a month.
I finalized the deal in a 3 minute phone call. He quoted me 39200 + 199 documentation. I offered 39000 and he agreed.
Two new things that I learnt, which I did not learn from past few days of reading this forum:
1. The dealer's calculators are different from Internet calculators
2. MSD's have to be rounded up to the next 25, so for my 503 lease - they rounded it up to 525.
Hope I have covered all the info that anyone else may be interested to find.
I completely agree that you should not pay a $2,500 down payment on a lease of this truck. Let's recalculate its lease payment with no money down and see what we come up with. According to my calculations, if you were to lease a 2007 Lexus RX 350 AWD without the entertainment system with an MSRP of $43,033 and a selling price of $39,723 through Lexus Financial Services right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $513.
Now let's take a look at the fees that this dealer is trying to charge you. Lexus Financial Services charges an acquisition fee of $600 on every vehicle that it leases. This charge is not negotiable. It is difficult for me to say what the motor vehicle fee should be in your area, but you should have to pay something for this item. The window etch is basically worthless and I personally would not pay for it if I was in your situation. The doc fee is really nothing more than a way for the dealer to add additional profit to your deal. Most dealers try to add doc fees to deals. If you are happy with this car's total price, including the doc fee, it doesn't really matter how it breaks down.
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MSRP $ 45,683
Resid. 58%
MF .00175
Dn Pmt. $2,500
Security 0
Bank Fee 600.00
Monthly Lease pmt. $479.00 + tax.
Any thoughts?? Last day of sale tommorrow, was going to go to another dealer and see if they can better it any, but have my doubts since this is a factory program.
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I'm looking to lease the RX 400h and I want to make sure I ask the right questions to calculate my lease. Are all these points available for disclosure by the dealer? Are there other questions I should ask? Thanks
Money Factor
Residual
Lease Inception Charge
Lease APR
I'm looking to lease for 36-40 months at 12,000 miles a year at a Teir 1+ level.
Any insight would be great, thanks alot!
I'm sure you must get this alot, but I am trying to negotiate a lease with a couple of dealers. I'm in the Mid-Atlantic region. Here is my current best deal, and I wanted to know what you thought about it and if I can make improvements.
This is for a 2007 RX350 Premium Package ( No Nav ) AWD
Lease is $400 / Month
36 Months
12,000 / year
Cash to bring in
$2,500
$325 for something, can't remember
$400 for security deposit
$400 for 1st month lease
$1,300 for tax
$600 for bank fee
what do you think and where can I make improvements?
Dave
Do some reading about leasing. Also read this one: http://www.edmunds.com/advice/leasing/articles/48365/article.html
By paying 2500 down as captial cost reduction, you are not really going to gain much. You can try changing the classification of that 2500 to "Multiple Security Deposits" instead of Capital cost reduction and that should reduce total cost of your lease.
Paying all 1300 tax at the time of signing is also not a good idea. If you have that money to pay upfront, asks them to treat that also towards "Multiple Security Deposits".
Bottomline - Don't just look at your Monthly payment. The numbers that you should be looking at are the following:
1. MSRP of the truck.
2. Selling price that you negotiated with the dealer (read what others are paying on this forum).
3. Money Factor of the lease (with and without multiple security deposits, i.e. get both numbers from the dealer)
4. Residual value after 3 years.
5. Any other fees that dealer is asking at the time of signing.
Once you have these 5 numbers, post them here and someone can suggest you if you are getting a good deal or not.
Thanks
I was told that on the '07 RX 350 AWD, that on a 36mo/12k year lease, the residual is 58% and the money factor was .00155 for the month of September. Now, Car_Man had posted it as being .00175 UP to the end of the summer event on September 4th ...
So, does anyone know what the CURRENT money factor would be, as of TODAY for the rest of September, and beyond ? I'm seeing .00175 and that's what one of the dealers told me, but I also have .00155 from another very trusted source.
Thanks in advance !!!
Selling Price= 38,564
Money factor= Salesman didn't know
Residual= 24,267
Drive off cost= 1599(including bank fee/DMV fee/Title
monthly fee= 544.77+42.22(tax)= 586.99
FICA Score=763
Is this a good deal?
Car_man:
Hi, first time post. I had a question on your calculation because I first couldn't get the same number you came out with. But I figured it out. My calculation is as follows:
MSRP: $43,033
Price: $39,723
Residual: $25,389.47 (MSRP x 59%)
MF: 0.00175
Depreciation = Price - Residual
= $39,723 - $25,389.47 = $14,333.53
Depreciation/month = $14,333.53 / 36 = $398.15
Rent = (Price + Residual) x MF
= ($39,723.00 + $25,389.47) x 0.00175
= $113.95
Monthly payment = Depreciation/month + Rent
= $398.15 + $113.95
= $512.10/month
Invoice of car (Is it $34,338?)
Money Factor
Bank Fee (aquisition fee)
Return fee?
Any training fees?
MACO fees?
residuals for 3 and 4 year lease?
Any help would be much appreciated. Thanks in Advance!
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Is this a good offer?
2007 RX350 AWD w/ NAV
MSRP $45683
Sell price $40450
MF .00185
Residual 58%
12K lease/36mons
Monthly $501.75
Tax upfront(7%) $1320.06
Due at signing: $2898.51
The Money Factor from LFS on this board is .00175, but the dealer is quoting .00185 for LFS. The numbers don't add up when I plug into my lease calculator. $501.75 sounds too low.
I'll be heading into the lion's den tonight so if anyone has any advice, please post ASAP.
Thanks.
-mxv2003
MSRP $45683
Base Cap $40353
MF .00175
Residual %58
12K/36Mo
Monthly $501.75
Due at Signing $2898 (includes tax,1st mon, Bank fee(I know), MV fees.
My local Lexus dealer gave me the following figures for a 2007 RX350 FWD, premium plus, navigation, heated seats, 18-inch tires:
MSRP: $44,306
Sell Price: $42,100 +TTL = $45,030
36 month/12K lease
Monthly choices: $780 with $0 down, 1st month due at signing; or $699 with $2641 down plus 1st month's payment
No other details were given (MF, residual). This seems way off from the other lease offers I am seeing here.
Can someone help me figure out what is going on with this deal??
Thanks!
the formula is pretty simple
Take the sell price + residual factor ( in your case 58% of the MSRP) then times that by the money factor .00175 if you have Tier 1+ credit (about a 730 or higher) if you have Tier 1 then you use a money factor of .00185.
Ok, you take that number then
take the sell price minus the residual factor divided by 36
add the two numbers together and then you have your lease basic cost.
If you say put 2500 down, you are basically subtracted from sell price. so if it was 42,000 for example, now you put in 39,500.
So, the sale price will dictate a lot.
it took me 5 or 6 dealers to finally get a price that I liked.
Am I doing something wrong with the math? I come up with about $571 as a monthly payment with $0 down (based on the figures given) rather than $780 using Tier 1+ credit.
If I am figuring it right, my Lexus dealer would seem to be making a nice profit on such a deal.
Thanks again!
MSRP: 44,125
3Yr/15K
Residual: 57%
MF: 1.2% (I didn't understand what this meant)
Went to the dealership, found the car, and tried to negotiate with the dealer, but he said he would not negotiate the purchase price of a leased vehicle. I then got an email from him reiterating his stance (added below). Looking for 1) How to respond 2) what a good target for negotiating price would be 3) what 1.2% meant for the money factor.
Thanks for any help....chad
Email from dealer
----------------------------------
Good morning Chad,
I thank you for your correspondenceand hope you had a nice weekend.
I am a bit confused on your intent because leasing is all about payment becuase you are not purchasing the vehicle, the bank is.
Here's the deal I got over the internet.
MSRP: $44,125
Cap cost: $39,500
Residual: 57%
MF: .00175
Terms: 36mo/12K
Lease: $539/mo with $800 inception cost
I don't know if it was a good deal but that's the best I found down here in south Florida. I just wanted to post my numbers because it helped so much reading this thread. Is the calculations correct. For some reason when I did it, it was different from the Lexus finance guy (on his computer).
Dan
How does this deal look:
RX350 w/ Premium, NAV
MSRP: $45,683
Cap cost: $42,183 (Discounted $3,500 off list)
Residual: 48% (is this right?)
MF: .00175
Term: 48mo/12K
Lease: $534/mo. + Tax/Fees/First-Month up-front.
I can't help but think they can do better on the sale price, but they tend to sell fast inside the beltway. Also, How does the Totyota/Lexus MSD program work? The salesman was reluctant to explain the details ("..it won't make much of a difference"). How many deposits can I make?
I calculated five MSDs (at $550/mo.) to be $2,750 deposited, which (at .00010 each) would bring the MF down to .00125 and my payment down to $502 (Goal!). Making 14% a year by letting them hold $2,750 sounds good to me...
Residual: 44,125 * .57 = 25151.25
(39500 - 25151.25)/36 = 343.02
(39500 + 25151.25) * .00157 = 109.64
-------------------------------------
452.66
Of course this is not including any TTL, but how can I be that far off? Can someone please correct me?
Chad
Acquisition fee $20/mo.
Dealer fee (padding) $15/mo.
Money factor (.00175, not .00157) $5/mo.
Tax $35/mo.
That just about does it.... When you are only amortizing extra costs over 36 months, it adds up fast..
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I don't get the calculations. Do you always have to pay acquisition? I got them to get rid of the dealer fee.
Thanks,
Danny
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Car price was $37,785, and the lease was 36 months/12k, 58% resid., and money factor
of .00163 (I qualify). All was agreed to very clearly, in writing, via email. When I went
to buy the car this morning they refused to honor the lease deal--56% and .00197.
They said I had to prove that I could get that deal from another dealer, which was
never a condition of the deal. So I walked, and they let me go.
Any advice on how to proceed? What are the ethics in a situation like this.
Lexus dealers nearby? I'm not too sure if this is a good deal, but then again I don't know what options you have on the car. At least try to get a comparison quote of some kind from another dealer just for a little more peace of mind. Good luck!!!
To:
Subject: Lease, NJ, 2007 Lexus 350 AWD
Date: Tuesday, November 07, 2006 10:15 AM
My Highlander lease is up end of December........have decided on the Lexus 350 to lease from Livingston, NJ Lexus dealer. Offering: $2500 down/$449.00 per month........I plan to ask for bump up to 15,000 per year.......no navigation but premium package/Level 2?........may get heated front seats.
Q: Is this about the best range for December leasing deals?
Q: Will be away close to 25th. of December so......planning on turning Highlander in early and getting Lexus so that I am not without a car after 1st. Jan. Is there a good way to handle this switch over?
Thanks for any advice.
Cheers,
BRG :confuse:
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