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

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Comments

  • cartman13cartman13 Posts: 43
    edited December 2010
    Assuming this is a 2011:

    based on those numbers, they are padding the money factor.

    Assuming you are paying all fees and taxes up front. (make sure you aren't paying any cap cost reduction.)

    they are giving your a MF of .0019. (assumes a 7% tax rate)

    The Dec to remember event for a 3 yr. 10k mile lease is 0.0015 according to the forum host car_man.

    That's quite a bit of pad. other's in NJ have been quoted .0017 for a 15k mile lease. (which also seems to jive with what car_man has said.)

    I might shop around a little. if you are tier 1+, they should offer at least a MF of .0017. The disount you are getting seems in the ball park with others i think. I'm in socal, so it's a different market.
  • OK, after using the help here, this is what I negotiated:

    $629/mo for 36 months with $3,000 down and $1,865.50 fees, etc.
    And they took the Camry with no hassle! (no mileage hit, no nothing)

    If I add $1,000 and make it $4,000 down, it's back to $599/mo w/tax included!

    Seems like the deal to me, picking it up in the AM.

    Thanks all again
  • hamm3rhamm3r Posts: 55
    Cartman,
    Thanks for the info. I have some questions:
    1. By tier 1+ do you mean credit rating? If so, I'm good.
    2. I downloaded an app to help me figure this stuff out. Question, when inputting the cap cost/negotiated price, should I include the tax in the cap cost and use $0 as down payment? Since they will collect the tax up front, this is confusing me.

    When I negotiate, is it correct to ask them to either lower the money factor to .0017 or alternately lower the base to 49,000? (I am more interested in the 15k) I'm doing this via email (if that makes a difference).
  • hamm3rhamm3r Posts: 55
    Also, yes, 2011.
  • im looking at 2011 RX 350 with Comfort , Nav and Premium packages. List is 47745.00 and current deal is 3500 discount and 15K for my 2005 RX 330 in excellent condition with 75K miles and 1K Lexas owner loyalty bonus.. Is this a good deal?

    They are telling me the lease factor is .00220 and I am waiting to get info on what the residual is. I am not sure I am going to want to keep this car more than 3 years which is why i am considering leasing this time, I dont like some of the changes they have made to the interior.
  • cartman13cartman13 Posts: 43
    edited December 2010
    yep Tier1+ was in reference to credit.

    If you are paying the tax out of pocket and don't want it figured into the calculation you can do it two ways. 1 include the tax in the cap cost and also include any tax payment in the "down payment" or cap cost reduction.

    Alternatively you can exlude the tax and tax paid from both. Just be consistent.

    Yes, i would ask them why the MF is higher than you have been quoted. Call aorund to another dealer and ask them what the MF is for your lease if you want to actually try to get a quote. You could even ask them, are you marking up the MF?

    MF and cap cost are independant factors. Each can add to dealer profit on it's own. but neither should directly influence the other. So you can try to negotiate both parts.

    Also, I'm not sure i know how tax works in NJ, but i thought the only places that charged an upfront tax on leases were texas and illinois. So curious about the "tax upfront" comment.
  • OK, it's done.
    MSRP is $51,777.00
    CAP Cost Reduction=$4,000
    $1,865.50 all the other "stuff"
    for a total of $5,865.50
    $599 mo. for 36 mo., 15,000 per year
    Gross Cap Cost=$46,445.89
    Residual Value=$28,995.12
    and like I previously said, they took the 2007 Camry Hybrid with 50,000 miles on it, 4 months early, no penalty, no costs, (it was in pristine condition).
    So, was this the "December To Remember"?
  • New lease MF is .0017 and 57% residual. they are applying the 1K lexus loyalty bonus to the capitalized cost.
  • topgun7topgun7 Posts: 409
    Will fly anywhere USA for the deal.
    Dealer 1 wants $748.93/mo, Dealer 2 'says' he can swing $600/mo w/$2500 down.
    What to do, how to do it?
    Is it worth paying the AutoLeaseGeek to negotiate the deal?

    If you want the best deal, try the Los Angeles delears. You can email all of them and see what deal you can strike. You will have go judge if it is worth it to drive it home or have them ship the car to your home (and pay for the transport yourselves)
  • Thought I'd share my deal since this forum has helped me so much.

    2011 RX350
    36mnths @ 10K/yr

    MSRP = 45,847
    Residual = 60%
    Money Factor = .0017

    Purchase Price = 40,119
    Less Lexus Loyalty = (1,000)
    Plus Loss on Trade = 2,000
    Acquisition Fee = 700
    Title, Reg = 549
    Misc = 177

    Due at Lease Signing = 1,311.12

    Payment = 514.62 + Tax = 559.65
  • Guruuno,

    Is this FWD or AWD and what are the options come with the car?
  • guruunoguruuno Posts: 23
    AWD,loaded, only option is does not have are 19" wheels, LED headlamps.
    I can try to scan the window sticker if needed.
  • After searching this site for months I finally signed on for a new lease. For anyone interested here is the quick run down.

    First off, this is the first time I used the Costco auto program (yes they do leasing too). If you are a member I highly recommend it. I have bought numerous cars and have haggled for hours.... this cut it all out.

    MSRP: $52,233
    Offer: $42,990 ($800 over invoice)
    Resid: 60%
    36mo /10k yr

    I got nav with every option there is outside of the towing package (lights, wood, mark lev audio......)

    The only thing left to when I got to the dealership was to move them on the money factor (I have great credit), knock off some padding, haggle my trade in and see if I wanted to give a down payment. Easiest transaction I have ever done. This site helped alot with finding the padding they slip in.

    BTW, this was in Towson Maryland.
  • sawjaisawjai Posts: 18
    Anyone heard anything on the lease rates for the RX450h. I got a couple of letters from Lexus dealerships wanting to buy out my current lease to get me into a new vehicle. That was an interesting idea, but want to know what offers are currently being done. Looked like December was the month to pull the trigger.
  • Sawjai, Lexus lease money factor on the 2011 RX 450h is the same in January as it was in December, .00150 for consumers who qualify for its top aka Tier 1+ credit tier. The residual values dropped by a couple of points month-over-month though, so yes this truck's lease program was a little better in Dec.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • striper72striper72 Posts: 12
    edited January 2011
    I am being told by a dealer in NY that the acquisition fee on a RX350 is $895 on a lease. Seems about $195 too much compared to what others have paid. Anyone know the actual acquisition fee? Thanks!
  • Hi striper72. I believe that Lexus Financial Services' base acquisition fee is only $700. If the dealer is trying to charge you $895, they may be attempting to mark your vehicle's fee up in an effort to slip a little extra profit into your deal.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • jp89jp89 Posts: 10
    I am going to pick up the car tomorrow. I guess it is too late to ask to see if the lease is reasonable. 36 months at 12,000/year mileage
    It is a 2011 Lexus RX 350 AWD, MRSP is $47,985, Invoice price is $43,462 and sale price is $42,462.
    They quote me MF 0.0017, residual is 57% (27,351.45.) My sales tax is $3450, with 0 down payment (other than bank fee, DMV fee...) total finance is $45,912 ($42,462 + sales tax). My lease is $589/month. I calculated the MF is actually 0.0016 in order to get the $589/mo lease.

    Is it a good deal?
  • Two questions on the RX 350 FWD:

    1. Is the FWD a good choice for living in Chicago?

    2. Is this a good deal:

    2011 Lexus RX 350 FWD
    Premium Package
    Navigation
    Heated Seats
    MSRP including 875 destination: 44,355
    Invoice including 875 destination: 39,549

    Negotiated Price: 39,855 (Including $1000 loyalty)
    Money Factor: .00212
    Residual: 50%
    Term: 42 months
    Sales Tax: 7.25%
    Due at Signing: 299 (Fees including license, title, doc)
    MONTHLY PAYMENT: 617.59

    and

    Negotiated Price: 39,855 (Including $1000 loyalty)
    Money Factor: .00212
    Residual: 49%
    Term: 48 months
    Sales Tax: 7.25%
    Due at Signing: 299 (Fees including license, title, doc)
    MONTHLY PAYMENT: 587.08
  • kyfdxkyfdx Posts: 29,398
    I wouldn't make your choice for you, but look on that Lexus dealer's lot, and see how many of the RX350s are FWD.. I'm betting very, very few....

    I live farther south than you, and really don't get the point of a non-AWD SUV/Crossover..

    Plus, aren't you in the middle of a blizzard? :surprise:

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • Ummm, look at the forecast, 18" of snow over the next couple days,
    I would say no. Not a good choice. I live in so cal, and I still buy AWD.
  • Its too cold and snowy for me to go count the FWDs on their lot. :)

    Seriously, I have never driven an FWD car or suv. Is it bad for the snow? I won't be towing anything or doing off road driving - just our typical winters.

    Do you have an opinion on the numbers they are quoting me?
  • Okay, thank you very much.

    I guess it is back to the drawing board with them.

    Is .00212 an accurate MF for top tier credit?
    I've been searching, do you know where I can find residual values?
    I guess for the RX350 AWD, 42 and 48 month, 15k/year
  • kyfdxkyfdx Posts: 29,398
    Nothing wrong with FWD, but crossover/SUVs typically come with AWD, especially in the Midwest. Resale isn't really an issue, as you are leasing, but on a vehicle designed for AWD, their isn't much downside to getting it.. and, given your current weather, a lot of upside.

    Actually, Car_Man is the resident expert on leasing, and has your info on residuals and money factors. He should be along shortly to answer your questions. Also, many times the FWD models will have different numbers than the AWD models.

    regards,
    kyfdx

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • I grew up in chicago, and i'm pretty certain you won't be happy if you get a FWD. Way too much snow and rain (and when it comes it comes in bulk...) FWD better than AWD, but if you plan on using it as an everyday driver, you will thank yourself for getting an AWD.

    I'm not sure if this has changed, but something I thought i would point out. IL is usually a very bad state to lease a car in. It's because they charge the the Sales tax on the entire vehicle purchase despite only having the car for 3 or 4 years. (I believe IL and TX and a few other states do this.) Also, if you do end up purchasing the car you will actually have to pay sales tax again. Other states charge you sales tax on your down payment and each payment only.... (use tax) This can be a source of significant savings between a lease and buy option for vehicles with higher residuals in higher tax states.

    I also want to say in IL, If you trade in a car you buy, i think you get a tax credit towards your new vehicle. But I don't believe you can do that with a leased car... I'm a bit fuzzy on this, so should look into it.

    I know this sounds academic, as your choice is still purchase or lease, but one thing i like about the lease option is if I don't use the mile allotted on my lease (i.e. i have a 45k mile lease, but only drive 20k due to changes in my life, you can usually buyout and sell the car recovering some of you lease payments....) Due to the tax setup in IL, I don't know if this is possible w/o incurring the double tax.

    hope that helps. and car_man is definitely the local authority on MF and residuals.
  • jp89jp89 Posts: 10
    NY too charged the sales tax on the negotiated price for leasing even I leased for only 12,000 miles for 36 months. The residual was 57% and MF was .0017. I just did it two weeks ago for 2011 Lexus RX350 AWD. I thought it was not fair to pay the sales tax on the total not on the 43%. The residual is calculated on the MRSP without sales tax. We have 8.75% of sales tax.
  • So, if I look at the RX 350 AWD, have top tier credit - my money factor should be around .0017? What is the residual on a 15k/year 42 or 48 month lease?

    The AWD that I want MSRPs for 46,505

    Base - 39,775
    Destination - 875
    Premium Package - 2400
    Heated Seats - 640
    Nav - 2465
    Remote Start - 350

    Do I shoot to get it for inoice? (41,495)

    Did Lexus bring back their 1,000 loyalty?
  • Hi persevere12. I can't make your decision for you, but given the weather that you're having right now I personally would go with the AWD model ;).

    The money factor that you mentioned is a little on the high side. Lexus Financial Services' current buy rate lease money factor for a 36 month lease of a 2011 RX 350 is .00170 for consumers who qualify for its top credit tier.

    LFS' current residual value for a 42 month lease of a 2011 RX 350 AWD is 50%. The residual for an otherwise identical 48 month lease is 46%.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Lexus is indeed providing $1,000 owner loyalty cash on the '11 RX 350 right now.

    If I was in the market for this truck, I personally would shoot for a selling price of $500 to $1,000 over invoice minus the loyalty cash.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Car_man you rock! Thank you sooooooo much.
This discussion has been closed.