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

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Comments

  • asnf1asnf1 Posts: 1
    Hi Nola2

    You are right. I got the same run around from Stevens Creek and Fremont. Stevens Creek is not responsive at all and Fremont wanted me to come in before they give me any info. What is the point of having an internet department? If I wanted to come in and drive the car I would have already done so.

    What I ended up doing is turn in my E350 lease and get an ML350. All I did was send out an inquiry and Tim at Beshoff was very responsive and gave me a great deal.

    I don't understand all this BS that bay area lexus dealers are doing.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Nola2, Lexus Financial Services' current buy rate lease money factor for a 36 month lease of a 2010 RX 350 is .00190 for consumers who qualify for its top aka "Tier 1+" credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi valueguy. I don't know the exact excess mileage penalty that Lexus Financial Services charges. Here's the section on excess mileage charged from its website:

    Excess Mileage Charge
    Leases generally contain a mileage limitation on mileage and resulting excess depreciation of the vehicle. A set mileage allowance is disclosed in a LFS lease agreement. If this limit is exceeded, the lessee is charged for each mile driven exceeding the allowable mileage, as disclosed in the lease (e.g., $0.15 per mile). However, if at lease inception, you feel you will be driving more than is set forth in the lease, you can add the anticipated excess mileage (at $.10 per mile) to your lease to be paid as part of your monthly payment.


    Those example prices are low though. Surfing around the web, it appears as though LFS charges $0.25 per mile for leased vehicles that are returned with excess mileage. Using the same ratio that LFS used in its definition above, a $0.05 reduction for excess miles paid for in advance, you probably would have to pay around $0.20/mile.

    Again this is just a guess, but it's a pretty good one if I do say so myself ;).

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi crubin23. Here's the information that you're looking for. Lexus Financial Services' May buy rate lease money factor and residual value for a 36 month lease of a base 2010 RX 350 AWD with 12,000 miles per year are .00190 and 60%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • onenrg1onenrg1 Posts: 6
    I was offered this deal, which is the best one I was able to get:
    36 months/10,000mi
    61% Residual = $28,757
    MSRP $47,153 Nav, Prem, Comfort packg
    Invoice: $42,400
    Negotiated: $42,900
    Drive Off: $1,842
    Monthly Payment: $530 + Tax

    The dealer couldn't find my color combo anywhere and found one with a slightly higher MSPR because of the additional cross bars but said they would give me the same monthly deal. What do you guys think. It sounds about right. Been trying to match Nola's deal but no one wants to come close. Anyone think that I should wait to see about June incentives?

    thanks,
  • shellvilleshellville Posts: 9
    Freeman Lexus - Santa Rosa:

    MSRP: $49,044
    Dealer: $44,228

    Price: $43,121.32
    Lease: 48 mos
    15,000 miles
    MF: 1.9 (.0091)
    Residual: 49% ($24,031.56)
    $1990 .47 down (includes: 1st payment $573.88, sales tax $69.84, 1st year fees $591.75, other upfront $755 )

    Package Includes:
    Comfort
    19" wheels
    Navigation
    Premium
    Two Prep
    Accy Pkg
    Cross Bars

    I was told that I am paying $1,000 under dealers invoice, but, have a feeling they are making it up in the down payment. I don't have a lot of experience at negotiating, so, want to make sure I am not leaving anything on the table. Can anyone share their expertise with me? Thank you
  • shellvilleshellville Posts: 9
    can you respond, please?

    thank you
  • shellvilleshellville Posts: 9
    when and where did you get a quote of $41,350? i got a quote just yesterday of $43121.32. thanks
  • Hi, can someone tell me if this is a good deal- I got a lot of internet quotes from dealerships around the new york tri-state area and the best initial quote i received has been

    2010 RX350 AWD
    MSRP $47,625
    36 month, 12k/year
    $1717 drive off, includes dealer fees(~$800)/dmv fees(~$300)/first month
    $578/month (with taxes included)
    60% Residual, Money factor of .00190

    Options:
    -Premium (PM)
    -Comfort (CP)
    -Navi (NV)
    -12spkr (EK)
    -Tow Package (TO)
    -Preferred (Z1)
    -Wood/leather trim (WU)
  • faf_01faf_01 Posts: 6
    I am also shopping around, but the best deal a get for similar car is $560 a month before taxes - drive off is the same.

    where is the dealer (which quoted you ) located?
  • this was at Prestige Lexus, NJ but Lexus of Queens was able to go down to $582, this is with taxes rolled in and included
  • faf_01faf_01 Posts: 6
    But you wrote that Prestige Lexus, NJ quoted you at $578 with taxes.....
  • shellvilleshellville Posts: 9
    Can anyone respond to my offer from Freeman Lexus in Santa Rosa, CA.

    The payment they quoted me is $573.88 (includes taxes)/mth. Other specifics are in my previous email address. I need to go down today or tomorrow in order to take advantage of this offer. Just need to make sure I can't do any better than this, or if I should negotiate a better deal. Thank you
  • yes-

    Prestige Lexus in NJ quoted me at $578
    Lexus of Queens in NY quoted me at $582

    I mentioned the 2nd one because it's closer to me but no one has been able to beat Prestige's initial offer yet
  • onenrg1onenrg1 Posts: 6
    All the number add up mathematically but the biggest concern is the MSRP and Invoice that they quoted. I was quoted $47,644 on the same vehicle. using the pricing tool on Edmunds, I get an MSRP of $47,253 (which doesn't allow for the option of the cross bars or the Accy Pckg but I tried using the JC option to supplement some) and an invoice of $42,147. The dealer that I am dealing with said his invoice is $42,400 and would charge me $500 over invoice. Your deal is a good deal but the dealership isn't losing money on it as they sound like they are doing.

    I have tried to bargain using the deal that Nola2 received but I haven't even come close. My best deal is $530+ tax on the same vehicle you describe. Biggest problem in negotiating with me is that everywhere I go, they don't have a silver with black interior. It seems that there are only two of those vehicle available in FL
  • shellvilleshellville Posts: 9
    thank you for your response. the base payment they are quoting me is $525.90 plus taxes of $48.59 = $573.88/mth

    this is with almost $2,000 down.

    if you are being quoted $42,400 plus $500 = $42,900.
    they are quoting me $43,121. so, you are right...their MSRP seems a bit high at $49,044. They are showing a dealer base of $34,146 and the following charges:

    Comfort - $1560
    12 Speaker - $88
    19" Wheels - $528
    Navigation - $2085
    Intuitive Assist - $400
    Premium - $2028
    Tow Prep - $190
    Wood & Leather Trim - $264
    Accy Pkg - $141
    Cross Bars - $168

    Total Acc - $7452
    Dest Chg - $875
    TDA - $585
    Dealer Holdback - $780
    Whsl Financial Reserve - $390

    Total: Dealer $44228.

    Retail: $39025. plus $9144 access and $875 destination = $49044.

    I know what you mean about trying to get the color combination you want. I have been trying to get white with gray leather interior. Not too many to be found...like your desired color combination...however, they did, by chance locate one and made me this offer. I am glad to hear you think it is a good offer...but, you are right, i am certain they are not loosing.
  • shellvilleshellville Posts: 9
    hi nola2...where did you buy your rx?
  • maximafanmaximafan Posts: 592
    edited May 2010
    Boy, I hear you on the color combos that are on the dealer lots.
    I've been getting frustrated trying to locate the color combos that I would like at the two dealerships in the Tampa Bay area.
    My current '07 RX has the black interior with the Flint Mica exterior. I would prefer to stick with the black interior, but possibly a lighter exterior. I like the Matador Red with black interior, but it's been very difficult to locate. I'm also liking the Cerulean Blue, but I haven't been able to find one with the black interior. I might be willing to settle for the gray interior; but, again most of the Cerulean Blue RX''s are with the cream interior on the dealer lots. I have also had a hard time locating the color combos on the 2010 Cadillac SRX that I would like.

    Of course, this all may be a moot point, because if they can't give me the right price and lease pmts for a Navi, Prem. and Comfort RX, I'm ready to buy my RX at the end of my lease in a few months. I imagine they would make a lot less money off of me if I buy my vehicle rather than lease a brand new one.
  • shellvilleshellville Posts: 9
    there is a matador red with black interior sitting on the lot of my local dealer in santa rosa, ca. it is a nice combination. don't know if your dealer could work something out with my dealer or if there is too much distance. your dealer should be able to give you at least the same deal that i got. i am going to inquire what the payments would be on a 3 year lease, however, i believe the payments are only able $5.00 a month in difference. in that case, make sense to do the four year lease.
  • faf_01faf_01 Posts: 6
    I tried several dealers in NY - NJ....

    $572 deal is hard to beat... Some dealers offered to match it only....
  • shellvilleshellville Posts: 9
    is that on a 3 year or 4 year lease?
  • maximafanmaximafan Posts: 592
    Thanks, Shellville, for the suggestion. But I'm afraid California would probaby be too far to do any kind of dealer swap. I live in Tampa, Florida. Thanks, anyway! :D
  • faf_01faf_01 Posts: 6
    36 months - 12k a year.... look at the original posting
  • shellvilleshellville Posts: 9
    sorry...i do see that
  • onenrg1onenrg1 Posts: 6
    Treasure Coast Lexus gave me the best deal with Lexus of Melbourne missing the offer by $5. Both dealers searched the inventory to see if they can get the color combo that I wanted. Why don't you try calling them to see if they can get the color combo you want with the packages you want. I am still waiting for the trade to be confirmed by the supplying dealership. Hopefully, my wife can be driving a new RX by Wednesday so I can take her GS :). I was quoted $530+tax and $535+tax respectively.
  • newbie39newbie39 Posts: 5
    I negotiated a 36 mo/15k miles per year lease for a 2010 RX with navigation. Terms of lease are 35 payments of $642 (tax included) with first payment 30 days from delivery. I have clarified with dealer that there will be no additional money paid other than what agreed. I am turning my current leased Lexus and picking up the new car tomorrow. My questions to all of you:
    (1) when I get to the dealer tomorrow to pick up the vehicle, should I expect any out of pocket costs whatsovever? Can they charge me for tag transfer, title, taxes - any of those "inception costs". I have asked this before and they have assured me that "no additional costs are required - true zero down lease"

    (2) Is there anything I should be on the lookout for when signing the contract. As I understand it it should simply say 35 payments of $642 with 1st due 30 days from delivery.

    (3) should i get prepaid maintenance? They have offered at $495 and I would like it added to my payment. Is there tax on this amount?

    Thank you!!
    sign with my registration
  • clasysclasys Posts: 26
    Just wanted to share the info on a deal I closed today, maybe someone will find this helpful. Thanks to everyone who shared may money factor and residual numbers; it really helped my negotiations. The whole experience at dealer's was nice and easy, once they saw that I came prepared.

    2010 Lexus RX350 AWD, silver with gray leather.
    - Premium package (PM)
    - Heated and cooled seats (HS)
    - Wood and Leather Steering Wheel and Shift Knob (WU)
    - Towing Prep Package (TO)
    - Backup Monitor (EC)
    - Preferred accessory package (cargo net, wheel locks, trunk mat)

    MSRP: $44,090
    Invoice: $40,200
    Negotiated price: $39,600
    Adjusted CAP cost: $40,020 (negotiated price + $245 doc fee + 175 MV fee)
    Term: 36 mo/10,000 miles
    Residual: $26,895 (61%)
    Money factor: 0.00190
    Monthly payment: $535 ($491 base + 8.875% NYC tax)
    Due at signing: $1,235 ($535 first month + $700 bank fee)
    Total lease cost: $535 x 36 + $700 = $19,960

    I think I did pretty good. What do you guys think?

    Dealer said (for what it worth) that almost all 2010 models are gone and new 2011s are going to cost more, they are expecting them to start arriving in the mid of June. Also he was hinting that most likely June program will change and not in the good way. I had to choose from just 3 in stock - black, light blue and dark red. Since my wife didn't like black and I can't be seen in light blue, he is getting silver from another dealer in its network. Picking up Tuesday. Thanks again to everyone who shared valuable info; it helped a lot.
  • maximafanmaximafan Posts: 592
    Hello, onenrg1. Exactly where is Treasure Coast Lexus located?
    Also, on the deal you have for $530 a month, which model is this for, just the premium model or the model with the nav and comfort package? Thanks.
  • delta737hdelta737h Posts: 603
    edited May 2010
    clasys,

    Looks like a fairly good deal. Congrats! But, here's a heads up...

    I assume the vehicle will be registered in NY state. If so, the one thing that jumps out is the sales tax. Unless NY's sales tax computational methodology for leases was changed recently, tax is levied on total payments and due at inception. There are two ways in which to pay the tax: (1) the dealer or fund provider pays them on your behalf and, simply adds them as an amount financed, thus capitalizing them in the lease; (2) pay them at lease signing.

    You indicated an adj cap of 44,020 (which excludes taxes). You also indicated upfront lease charges consisting of first payment and bank fee. This, of course, excludes sales tax. Using your numbers and, assuming that taxes are being capitalized, I get a base payment of $491.72 and a payment, including tax, of $542.89 as opposed to your $535. NY does not collect tax monthly by taxing the individual payment receipts as you seem to indicate. And so, I'm a little puzzled when I see a payment, including tax, of 535 = (491 x 1.08875) instead of a payment of $542.89.

    My question is: Did you disclose the 535 payment for sake of simplicity or (and here's the big concern) did the dealer disclose the 535 figure? Sometimes, a dealer will contact customers, even days after the deal has been consumated, to inform them that they made a mistake. Just be aware of this possibility in the event that this issue arises. Otherwise, I wouldn't say anything (even though I'm announcing it to the whole damn world in this forum... (lol)).

    Here are some references just in case you're interested...

    http://www.tax.state.ny.us/pdf/advisory_opinions/sales/a00_39s.pdf
    (see Situation B)

    http://www.tax.state.ny.us/pdf/advisory_opinions/sales/a95_31s.pdf

    John
  • clasysclasys Posts: 26
    John, thanks for the info. You are absolutely correct: car is going to be registered in NY, taxes are definitely CAPped, also are capped MV fee of $175 and doc fee of $245, the payment is $535 including tax and upfront moneys are $535 first month and bank fee of $700.

    Its clear to me now, that selling price and adj cap cost in my initial post are wrong; these numbers were "reverse calculated" by me by plugging MSRP, MF, residual, all CAPped fees and tax rate into leaseguide's lease calculator and adjusting selling price to get to $535 with tax. Obviously I messed it up and selling price should be lower to accommodate higher adj cap cost and still translate into $535.

    Now I'm having problem to properly "reverse-calculate" my lease to see the selling price and adj cap cost when taxes are capped too: taxes are based on base payment + finance charge. But when taxes are capped, it changes the adj cap cost, which in turn changes base payment and changes taxes? If anybody can help I would appreciate that.

    Thanks
This discussion has been closed.