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

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Comments

  • rparisrparis Posts: 368
    Would you share the amount of discount?

    Thank you.
  • dollyhdollyh Posts: 5
    dear Car Man - can you tell me please:

    Lexus RX 350 2010, 36 mo lease @15K mi per year, need to know residual percentage and money factor.

    dealership in Greenwich, CT - I reside in NY State

    Thanks!
  • lonnalonna Posts: 1
    i'm looking at buying or leasing an rx 400h. i guess cuz they're making room for the 2010 model, they are offering $10,000 off msrp. (santa monica dealership) any thoughts on whether this would be a good buy vs lease? i've never bought a car, always leased but am thinking about buying because of the economy--and also because we always have 2 cars so we can continue leasing the other.
    i've got excellent credit and am not very familiar with leasing formula. (know it, hate having to figure it out.)
  • I too just looked at the 2008 Lexus RX400h. Yes there is a $10,000.00 off MSRP.....BUT the money factor I was quoted was .00295, roughly 7%!

    I feel the money taken off the MSRP is gotten back on the interest rate.

    My payment was roughly $600.00 per month, but they wanted $5,000.00 down, plus 1st payment.

    The money factor is killing the deal for me, for when I saw Lexus's money factor at 4% or less 2 months ago, I just cant bring myself to do it.

    Car Man, any way Lexus Dealerships can lower the money factor?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi gmar1. The problem that I personally have with demo vehicles is that dealers never seem to be willing to discount them enough for me to justify purchasing what is essentially a low mileage used vehicle over an otherwise identical brand new one. I believe that Lexus Financial Services charges an excess mileage charge of $0.25 per mile on leases. I would not be surprised if that is the rate that the dealer tries to discount this truck at. If so, that amounts to an additional discount of less than $300. There's no way that I would go with this car for that little difference. Good luck and let us know how much of an additional discount the dealer is providing on this demo. I'm curious.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    I sure do, dollyh. Here's the information that you're looking for. Lexus Financial Services' current 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 .00285 and 57%, respectively for consumers who qualify for itst Tier 1+ credit tier.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi needanewcar77. Lexus is not providing lease support on the 2009 RX 350 any longer. As a result, if you were to lease one through Lexus Financial Services' you would have to use its standard lease money factors. Lexus Financial Services' current buy rate standard money factor is .00285 for consumers who qualify for its top aka "Tier 1+" credit tier. Dealers are not allowed to charge a lower factor than this.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • hotlanta2hotlanta2 Posts: 26
    I thought that I had a car ready to go but the dealer sold out from under me. I live in Atlanta and am willing to pay shipping for a good deal on 09 RX 350. I would prefer fwd but would be willing to look at different options. Does anyone know of a dealer who still has some in stock?

    What is a good deal on this car?
  • hotlanta2hotlanta2 Posts: 26
    This is a good deal in my book. Where did you purchase?
  • 70wash70wash Posts: 9
    Has anyone recently signed leases for a 2010 RX 350 in the NY/NJ/CT area? Please post your price to help a fellow shopper out.
  • I got a great deal and service on my 08 400h purchased this past January from Lexus of Cerritos in CA. I worked with Aymy and Desmond - they can handle the transaction via Fedex and arrange for shipping the car to you (about 1k uncovered trailer).

    Go to overstock.com first to get the lowest price in SoCal - they should either match or beat it, although they don't participate in the overstock program. If you're buying from out of state AVOID Lexus of Santa Monica - you're just wasting time with them, even if they post the lowest price on overstock. They refuse to do business with or take seriously out of state buyers, and they can get quite nasty about it too.
  • berrisj1berrisj1 Posts: 8
    Can anyone tell me the MF & residuals for 12K miles & 36 months? Equipment: navigation, heat/vent seats, premium, park assist. No current incentives that I see. Should I be happy with invoice price?

    Thanks
  • gfrfangfrfan Posts: 2
    All the 330 and 350 lease returns are really depressing used rx prices. This is forcing lexus to push new drivers into buying vs. Renting. I have to think residuals will be taken down accordingly. Every manufacturer who became dependent on owners taking a new car every 3-4 years via cheap rent has to now face the music. Imagine what would happen to the industry if we all bought (not rented) autos we could afford and we held them 7-8 years ?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,518
    Hi berrisj1. Lexus is not providing any lease support on the 2010 RX yet. As a result, if you were to lease one through Lexus Financial Services right now, you would have to use its standard lease money factor. LFS' current buy rate standard money factor is .00275 for consumers who qualify for its top aka "Tier 1+" credit tier.

    Its current 36 month, 12,000 mile per year residual value for a 2010 RX 350 AWD without the entertainment system is 59%.

    If you can get one for dealer invoice, you should be very happy.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • Wow, that's an awesome deal! Take it! Just to compare, I spent 3+ hrs at a S.FL dealership and i couldnt even get near those #'s.

    Can you give me the name of the dealership where you got this quote from, so i can try and work the same deal?
  • I am looking to lease a '10 Lexus RX 350, no nav. system, premium package. Does anyone have any recent deal comps they can share with me? If you can also include the dealership's name, I would greatly appreciate it.
  • clips09clips09 Posts: 2
    "I'm about to bite on this deal for an 09 rx350 premium plus/ no nav. Purchase price around $31500, 36 month lease, 12k, 3k down, $439/mo taxes included. Financing thru LFS."

    I got this deal at Beverly Hills Lexus last month. Would have been even lower, however I had no similar purchase on my credit report-although it was tier1.

    Good luck.
  • scotty61scotty61 Posts: 2
    CarMan, when do you expect some help for rx 350's from LFS or do you think this will continue to the end of the year december sale time?
  • I'm considering purchasing my 2007 400h off lease in December. Please share any recent lease return experiences. I would assume that dealers are "dinging" people due to the lower car values.
  • redondo2redondo2 Posts: 4
    Folks I drove off with this deal yesterday:

    2010 RX350 FWD + NAV + Premium Plus package

    Through LFS, 48months/40K Miles

    $5000 down (cap cost is $3K+ first month+title+etc)
    $499/month INCLUDING taxes.

    It was important for me to keep the monthly to $499, so I put down $5K. Also note these numbers include taxes for LOS ANGELES County.

    What do you think? Thanks.
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