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

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  • Anyone have July rate info? Better or worse than June? Rate would be for RX350 AWD, Non-Nav, in PA.
  • RX350, FWD
    Premium
    Comfort
    Navigation
    Xenon
    19" wheels
    Heated/Ventilated Seats
    Wood/Leather Steering Wheel
    12 speaker premium audio
  • jakefl7jakefl7 Posts: 14
    What are the residual and money factors for a 2010 Lexus RX350 FWD for June 2010 for 36 months and 12K miles and 42 months and 12K miles? Thank you.
  • bhuddabhudda Posts: 8
    edited July 2010
    I am new to leasing

    2010 lexus 450h AWD, fully loaded
    4 year lease 15k/year
    2000 down
    MSPR $54,735
    cap cost 50993
    residual 47% ($25,725)
    MF.00130

    thanks,
    wet behind the ears
  • gx470818gx470818 Posts: 16
    .00130 MF??? really??

    What's your monthly lease payment and where did you get this deal?
  • bhuddabhudda Posts: 8
    edited July 2010
    $656/mo
    Michigan
    is that really?? bad or good?
  • gx470818gx470818 Posts: 16
    I think that's a great deal, the .0013 MF looks awefully great, the really?? is for are you sure?
  • gx470818gx470818 Posts: 16
    did you get the lease from Lexus or your local bank?
  • bhuddabhudda Posts: 8
    I leased through Lexus of ann arbor through employee discount. University of Michigan. It was the 2nd to last 2010 450h on the lot. Supposedly they wanted to move them out. the last one there is red.
  • emaan1emaan1 Posts: 5
    edited July 2010
    Hi Car_Man

    Could you please quote the LFS money factor and residual on a 36 month 15K mi/yr lease on the RX350awd (fully loaded - I believe its option C) with top tier credit for July.

    Thank you in advance!
  • emaan1emaan1 Posts: 5
    Hi Car_Man

    These are numbers I was quoted in North Carolina for RX350awd with option C for 36 months 15K mi/yr.

    MSRP $47304
    Selling price $44490
    Fee $549
    Taxes $1334.70 (tax at 3%)
    Net Selling price $46373.70
    MF 0.00195
    Residual 56%

    Monthly payment: $695.81 (nothing down except first month)

    Please help me....this is going to be my first lease.

    Thank you all in advance.
  • maximafanmaximafan Posts: 592
    Fast forward from November of last year to July 12, 2010. I went and plugged in the info on Edmunds to get an idea of what I could sell my '07 RX350 for right now.
    It looks like I should be able to get at least 21,500 for my RX which currently has
    56,000 miles, but otherwise in great shape. The car still drives like brand new, quite remarkable for a four-year-old vehicle.
    So my buyout, if I were to buy the car by the lease maturity date of 8/17/10, is
    18,500.
    I was looking at the 2010 RX's on the Lexus dealership Sunday morning and found
    one that has the comfort package and no navigation package. Was pleasantly surprised that Lexus seems to now be offering the comfort package(Which has my beloved rainsensing wipers) without having to purchase the nav. Price is 45,000 even. The only problem was it's the exact same color or my '07(Flint Mica, now known as Smoky Granite Mica). I don't like to do the same color choices back to back when purchasing a new vehicle. This is probably where my hangup is going to be is finding the color combo for the exterior and interior that I like.

    Hopefully, if I decide to go this route and get the 2010(I'm still considering buying my '07, still love it!) maybe the lease equity could be used for the drive-off costs!

    I'm also still eyeing the 2010 Cadillac SRX(Performance model). I love the styling on this vehicle, but I'm not sure about GM's leasing incentives. :confuse:
  • tbone6964tbone6964 Posts: 7
    Anyone know the July money factor on a FWD RX350 for 36 months @ 10K mi/year?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    The resids for the 2010 RX 350 RWD and AWD should be the same.

    Where did you hear about cash incentives on the RX? I am not aware of any right now.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi chariot123. Sorry to hear about the problems that you're having with your current vehicle. I don't see many advance payment leases. the last time I checked, Lexus Financial Services lowered its normal residual values by .00100 for consumers who pay for their entire lease at signing. If we apply that deduction to LFS' normal current buy rate lease money factor of .00175 for the 2010 RX 350, it drops to .00075 for an advance pay lease.

    I am not aware of any cash incentives on this model at this time.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Ed. Let's take a look at this deal. The dealer invoice price of the truck that you described is around $39,300. That puts the selling price that you were quoted at around $1,300 over invoice. That's not bad, but if I personally was in the market for an RX in an area that has a decent level of competition, I would shoot for more like $500 to $1,000 over invoice...another couple hundred dollars off.

    Possibly the most troubling aspect of the deal that you described is the money factor that the dealer quoted you. Lexus Financial Services' current buy rate lease money factor for a 36 month lease of a 2010 RX 350 is only .00175 for consumers who qualify for its top credit tier. Unless your credit is not in great shape, the dealer is charging you way too high a money factor. Make sure to insist that they use the buy rate to work up your payment.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here's the information that you're looking for, toddphilly.

    Lexus Financial Services' July buy rate lease money factor and residual value for a 36 month lease of a 2010 RX 350 AWD without the entertainment system with 15,000 miles per year are .00175 and 56%, respectively 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
    Greetings jakefl7. Lexus Financial Services' July buy rate lease money factor and residual value for a 36 month lease of a 2010 RX 350 FWD without the entertainment system with 12,000 miles per year are .00175 and 58%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    I believe that the numbers for an otherwise identical 42 month lease are .00175 and 52%.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Here you go, emaan1.

    Lexus Financial Services' current buy rate lease money factor and residual value for 36 month lease of a 2010 RX 350 AWD with the entertainment system and 15,000 miles per year are .00175 and 54%, respectively for consumers who qualify for its top credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey emaan1. I just responded to your earlier question.

    Since you are new to leasing, you definitely should check out the following informative articles on the subject that are available here at Edmunds.com: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    In short, the easiest way to get a good deal on a leased vehicle is to shop around for the lowest possible selling price and then have the dealer that you decide to go with calculate your vehicle's monthly payment using its buy rate lease money factor.

    I don't know the exact dealer invoice price of the specific unit that you are interested in, but if I had to make an educated guess I'd say that the selling price that you were quoted is probably around $1,500 over invoice. That's not terrible, but if you are in an area that has at least some competition I wouldn't be surprised if you were able to beat this deal by a couple hundred dollars by shopping around.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings tbone6964. Here's the numbers that you asked for.

    Lexus Financial Services' July buy rate lease money factor and residual value for a 36 month lease of a 2010 RX 350 FWD without the entertainment system with 10,000 miles per year are .00175 and 59%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • fthikanafthikana Posts: 4
    The Syracuse Lexus quoted me this for AWD (loaded except rear entertainment system), 12,000 miles, 36 months lease, MSRP $48,254, selling price: $43,000:
    $782 down (fees & 1st month payment)
    $640.98 per month
    based on Tier 1+ approval, money factor 0.0202 (looks high?), residual value 58%.

    I need your help in deciding if I should get this. Thanks!!
  • jaybee85jaybee85 Posts: 25
    Hi car_man and all interested; I'm interested in leasing a used/certified pre-owned RX 350, maybe 2008 model with AWD and nav, maybe priced at $33k. Lexus' CPO web page says leasing is available at the same lease rates as new, but I'm not sure if dealers are on board. I figure with less to amortize and the same lease rates as new the used lease should be well below that for a new car.

    Has anyone gotten a lease deal on a CPO RX 350? any thoughts on the lease payment? I'm thinking 36 months, 33K cap cost, no down only usual inceptions/fees, 12k miles per year. I'm in north NJ.

    Thanks!

    jaybee85
  • msmmimmsmmim Posts: 3
    Thanks Car Man...New question

    I'm still in the market for a Lexus RX350. Came close in July but dealer wants me to put money down on top of title, tax,$700 acquisition fee and 1st month .
    Friend in NY leased a Acura TL. He tells me that he only pays tax on the value of the car for the length of the lease.

    My Lexus dealer in Maryland says you have to pay tax on the full value of the car at the time of lease.
    Is the rule different by state? Am I not understanding the tax issue?
  • Kirstie_HKirstie_H Posts: 10,876
    A reporter is looking to speak to consumers who recently got a new vehicle because of the great lease deal. Please send your daytime phone number and the car you purchased to ctalati@edmunds.com by Friday, August 6, 2010.
    Thanks,
    Chintan
    Corporate Communications
    Edmunds.com

    MODERATOR
    Need help navigating? kirstie_h@edmunds.com - or send a private message by clicking on my name.
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  • Just a warning based on experience. If you choose to lease a lexus from Lexus Financial or a Toyota Financial Services do your due dilligence and check out the posts on the internet regarding these companies. Lexus Financial has an F rating from the BBB in Illinois. You really have to work to get an F rating from BBB. I leased my vehicle in 2007 with the intent to sell it before the lease end. Lexus now informs me that they do not sell cars to third parties. My only option is to purchase the car, by financing it, pay sales tax and then turn around and sell it to someone who will finance it and pay sales tax again. I might add this is not my first rodeo, I have leased cars for years from many different companies and HAVE NEVER been told I could not sell the vehicle at lease end. BTW, this is information will not be in your lease contract, as it is not in mine. There are other banks that lease cars, do yourself a favor and find another lender.
  • I have previously leased 3, going on 4 Lexus vehicles all through LF here in California. I have had no issues with them of any kinda and have actually found them to be very accommodating when it came to extending my lease.

    I think the situation you describe above is a somewhat uncommon one and it is not surprising to me that they make you purchase the car first. I know for a fact that a Lexus dealership can purchase the vehicle directly. 2 of the 3 vehicles that I have turned in I have actually been sold to the dealership for positive equity or for the same price as my payoff (2 different dealerships).
  • maximafanmaximafan Posts: 592
    edited August 2010
    I just started on my second leased vehicle with Lexus. Interestingly, my brother and his wife were interested in purchasing my '07 RX350 that I was turning in (at the last minute, I might add, the day I was going to be turning it in for my new vehicle). Lexus was giving me 19,500 for my '07 RX which would have covered my last payment that was due. Well, I had to call and tell them that my brother and his wife wanted to buy the '07 RX. I explained that they were going to check on interest rates with their local bank but also wanted to see what LFS's rates were.

    The dealership agreed to sell the car to my brother and his wife for the 19,500 plus dealership fees and taxes. They ended up financing with LFS since they were offering a competitive finance rate. They also ended up purchasing an extended warranty for 2 years or 100,000 miles. Needless to say, I think they got a pretty good deal on my old car. The car was well cared for, even though it had 56,000 miles on it. The sister-in-law is enjoying the vehicle!
  • andallthatjazzandallthatjazz Posts: 9
    edited August 2010
    We are considering leasing an RX 450h with all the toys. The local dealer is quoting the following on AWD and Option A (Model 9444) with an MSRP of $53,985

    Terms: 12k/year, 36 mo lease

    Here's the deal:

    $0 down
    Drive Off Fee: $1400
    Monthly fee (not including tax): $613.50
    Residual: $31311

    Questions:
    1. Is AWD as good or better than FWD, accepting the 1 mile/gal penalty I've read about?
    2. Is this a good deal?
    3. Should we consider a 4 year lease with a drive off of $1370 and Monthly fee (not including tax) of $585?

    Thanks!
  • I just leased a 2010 Lexus Rx350 with Navi. The sticker was....approx 48,000, but the gross capitalized cost ended up being 43,872.60.

    I put 1278.46 down which included my first months payment. My mothly payment, tax and all, is 590.71.

    48 months with 15,000/miles per year.

    Good Deal/Bad Deal/Ok Deal? Just wondering. THANKS :-)
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