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

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  • Is the money factor the same on a 36 vs a 48 month lease? Thanks
  • tlb5tlb5 Posts: 35
    edited March 2011
    that looks legit to me assuming the other $600 of your money down is for title/reg. that is a very good price, sig. below invoice for that car - and it looks like it's your first lexus so no loyalty $ - what dealership did you use?

    although, now that i look at the way bottom, what is annual fee? that's a new one...??

    i'm looking for basically the same car with 10k/yr for 36 mo. guessing based on your sales tax you might be in my area...!
  • tlb5tlb5 Posts: 35
    2011 RX350 AWD obsidian/parchment with premium, comfort, nav, upgraded spkrs and wheels/tires, towing pkg, wood trimmed wheel/knob and 'accessory' pkg (mats/wheel locks etc).

    MSRP $49045 ($48803 as outfitted on edmunds, plus $242 for their dealer 'accessory pkg'
    Invoice $43613 on edmunds, $43855 if you add the $242 acc. pkg to the base (i gave them that benefit of the doubt just to be conservative with the invoice price)

    Sale price $42,358, I added acq. fee into lease so adjusted cap cost $43,058
    36 mo/10k, 58% residual 0.00145 MF = base monthly payment of $510/mo + CA tax = $557/mo. payment wtih tax included

    Due at signing were $585 registration/title, $50 doc/tire fee and $557 first month's payment (so $1,192)

    Everything was straightforward, dealer agreed over the phone to the #'s, including lease terms, no funny business on site (of course still tried to sell protectant, etc, but not pushy), and we were in and out of there in less than an hour.

    I started the process with a consumer reports build/buy request but honestly all 3 dealers beat the CR price anyways, and this particular one by a significant amount plus had the color combo i was looking for.

    What ended up happening is all the offerred cars had more equipment than i asked for the in CR build/buy (in this case about $2000 worth more) BUT they minimally added to the sale price (meaning they trimmed all the profit off those add-ons) and it made for a GREAT lease deal with the residual climbing and the capcost staying as low as possible (or course still higher, but not enough to increase the lease payment).

    for example: on a deal i did NOT take, there was $2300 more equipment on the car and the price was only $700 more so the lease was cheaper than the CR quote
  • I've got that deal at Lexus Serramonte-- San Francisco, California
  • I have no idea regrading annual fees on anything. I just know I paid 628.69 and 1st month 587 as drive off and will continue paying 587 for 35 more month. I thought it was not bad considering it is with 15,000 miles/year. And I did not get customer loyalty discount b/c it is my first Lexus and my first lease.
  • dmc82dmc82 Posts: 3
    edited March 2011
    Would someone please post the March Lease rates for the RX350 FWD and AWD on a 36 and 39 month lease 12K mile. Not sure if packages make any difference but looking at Luxury/comfort/DVD entertainment/Park Assist

    Thanks so much!
  • criscris Posts: 2
    I was running into the same sort of situation with the option arrangement but did not get near the price you did......My tax rate is the same in CA, assuming you much be near by......What dealer did you deal with on this transaction.
    Thanks!
  • mc_lamc_la Posts: 3
    Hey Car_Man,

    Got a question for you.

    We have an 2009 RX where the lease ends on 4/1/11 so we’ve already made the last payment. I have also been in touch with a dealer and have a deal in place to lease a new RX, and since we have a lot of positive equity on the old RX we are using that towards the new lease. My question is, since the old RX is paid thru the end of the month, should I wait to get the new car? The old payment was $466 so essentially I’m giving up $233 since my new lease would start right away.

    The numbers are:
    $47,246 MSRP
    $42,805 Purchase Price – $1000 Lexus Loyalty – $3800 for my trade-in
    Cap Cost= $38,005
    36mo/10,00 miles/.00145 MF/58% residual
    Monthly=$389.35 + tax
    Acq Fee, 1st month and DMV in drive off of around $1700

    So I guess I have two questions.

    1) Is this a good deal? It’s about 9.4% off MSRP and my trade-in is valued very close to KBB trade-in.

    2) Would you do it now or wait to the end of the month so as not to lose the money I’ve already paid for the current lease? I mentioned this to the dealer after we came up with these numbers and his response was “maybe we should just wait until the end of the month”.

    Thanks for the info. This site and forum have been great for information on this lease.

    -MC_LA
  • kyfdxkyfdx Posts: 31,248
    I'm not Car_Man, but here goes...

    If you have a great deal on the table.... better snap it up, and not worry about the $200 of lease time lost..

    1) You could get in an accident... goodbye equity..

    2) At the end of the month, when you have no other clear options, the deal could change on you...

    As someone once said... you are stepping over dollars to pick up dimes.. ;)

    regards,
    kyfdx
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey jim53. I believe that LFS' MSD program does indeed still exist. The last time I checked it provided a .00010 deduction with a maximum of nine additional payments.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Yes

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello dmc82. Lexus Financial Services' March buy rate lease money factor and residual value for a 36 month lease of a 2011 RX 350 FWD with 12,000 miles per year are .00145 and 57%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    The numbers for an otherwise identical lease of an '11 RX 350 AWD are exactly the same.

    The money factors for 39 month leases are the same, but the residual values drop to 52%.

    Car_man
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  • tlb5tlb5 Posts: 35
    Lexus of serramonte, just like bmrgirl. I was surprised by the price but there is definitely high inventory in the bay area. Redwood city also gave a very good price but serramonte (int sales guy) was the best. Pleasanton resisted negotiating over the phone/email. Are you in the bay area? Again I started with build/buy on CR and I had two very good, adequately detailed offers, via email (and followup voicemalis) within hours.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi mc_la. The selling price that you were quoted looks very good to me. It is probably right around, or perhaps even a little under dealer invoice. This is a good enough deal that I personally don't see any reason to wait.

    Car_man
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  • jim53jim53 Posts: 109
    Thanks. They are claiming it was reduced to .00008 per deposit up to a max of nine a while ago. I know other companies like BMW made the adjustment lower a few years ago too. Possibly this is true?
  • dealspotterdealspotter Posts: 1
    edited March 2011
    We are thinking of assuming a lease for 2010 RX350 AWD. It has Premium, Comfort and Sport packages + Navigation system. The car has 13 months left on the lease. The monthly payment is $636. The current lease buyout price is $ 36,200. The end of term lease buyout is $28,600.

    Is $36,200 a good price for a buyout? Or should we wait and then decide at the end of the lease?

    I am leasing newbie. Any info will be appreciated.
  • ritazzritazz Posts: 1
    Can you give me inof on who you spoke with at Lexus of Serramonte and what kind of deals they offered?
    THANKS!
  • bminusbminus Posts: 6
    I went to a dealership today in houston looking for a new RX and they quoted me a 58% residual and a money factor of .00249 for tier 1 credit. The money factor is markedly different from what other people on this forum are saying. The dealer told me that the money factor differs by region and there was no changing it. Any truth to this?
  • Just leased the RX350 with Prem Package only

    The numbers are:
    $43,290 MSRP
    $39,794 Negociated Cap cost
    36mo/12,000 miles/0.00073MF/57% residual/9 MSD's
    Monthly=$476.02 (including NJ tax)
    Acq Fee, 1st month and DMV in drive off of around $1800 , ofcoz the 9 MSD's

    Now Gurus of leasing, please tell me if this was a good deal?

    Thanks in advance !!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're welcome jim53. It is indeed very possible that the MSD deduction was reduced. I haven't looked into it in a while.

    Car_man
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  • Hey Car_man,

    Can you please tell me if mine was a good deal?
  • topgun7topgun7 Posts: 409
    They are claiming it was reduced to .00008 per deposit up to a max of nine a while ago

    yes, I think they are right... I did 9 deposit on a 08 LS460 a couple years ago and each deposit I got 0.00008 reductions.. Infiniti is the only one that hs 0.0001 per deposit reduction.. BMW is 0.00007 per deposit...
  • Hi,

    Can any one please respond to my numbers on the lease, this was my first lease and I am concerned whether it not it was a good deal...

    Thanks again
  • blk133blk133 Posts: 1
    edited March 2011
    Hi,

    This is my first post so I am not a pro here, but I think you got a great deal. I also think that you know that already :) Even if it wasn't a good deal it's not like you can go back and change it. Enjoy your new car!
  • topgun7topgun7 Posts: 409
    edited April 2011
    Can any one please respond to my numbers on the lease, this was my first lease and I am concerned whether it not it was a good deal...

    The best way to figure out if the lease is a good deal or not is to look at the component..

    Do you get the best price for the car? don't look at what people in Ca pay for their car.. You need to look for what can you get in NJ.. If you already compare price at all the dealer,then you know you get the best price already.. If not, well, you have to make some educational guess.

    Do you get the money factor that Car_man mention?

    do the delear slip any unexplained charge into you lease?

    If you get the correct money factor and there is no additiona chrge then you get yourself the best deal possible in NJ.. don't worry about what somebody else get in California or Florida unless you plan to fly out to pick up the car out of state...

    it is very common when you ask a question like this in a msg board, someone would jump in and mentioned that they get a better deal in S. California or you should be able to get the price down another 2000 to 3000 dollars.. But what they ignore to say is that all car purchase are local.. The price for someone in Cal if not the same as the price that someone can get for the same car in NJ...
  • starabarstarabar Posts: 1
    Hi,
    This is my first post here and I'd appreciate any feedback.
    I'm going to pick up a 2011 RX 350 AWD Package E, fully loaded with Nav and 19" wheels. MSRP $48,693. The lease offer for 42 months, 10,000 miles, not including NYS taxes, bank fees, DMV fees and first month payment, is $527 a month with no money down(besides all fees and taxes upfront). Can I get a better deal? I left a deposit over the phone yesterday and I'm planning on heading over on Monday to process everything. Anybody knows if April money factor and residual are better than March? Thank you in advance for any feedback.
  • louiesmomlouiesmom Posts: 10
    Hey Car Man,
    I am currently leasing an '08 GX470. I have another year on this lease but I was recently contacted by my Lexus dealer about bringing my truck in because these 'older models are in high demand'. They seemed very reassuring about getting me out of this lease early without penalty. I would be interested in leasing a 2011 RX350 but, I do not want to be responsible for the remaining payments on my current lease. Is this situation something that you have heard of or is the dealer just trying to scam me?
    Also, do you happen to know the current (April) leasing program for the 2011 RX 350's (money factor/residual)?
    Thanks so much! This forum has helped me for my last two leases!!
  • topgun7topgun7 Posts: 409
    I do not want to be responsible for the remaining payments on my current lease. Is this situation something that you have heard of or is the dealer just trying to scam me?

    No, the dealer is not trying to scam you but they may want to do a highway robbery without the gun. With your lease with Lexus, every month there is a payoff amount. If you have access to the online account, it is in there. If not, you can call Lexus financial and they will give you that number. The pay off amount is the amount of money that Lexus will sell you the car at this particular month. Essentially the dealer is offering you to buy the car from you using that amount so they will pay off your lease and they will take your car and sell it thmeselves. It is legitimate. However, if the truck is as desirable as they claim, you can probably sell it yourselves to another dealer and pocket some money. If you have multiple dealer in your town (or near by towns), you can call them up and talk to the used car manager. Told him the offer you received (but no name.. all the dealer in an area know each other well. You don't want them to gang up on you) and ask them to bid on your truck.. We did that a few months ago and sold our LS460 to a dealer and we walked off without any additional money.. Wife called 7 dealers and 3 reponded.. The high and low offer was about 3,000 different. The key is to generate some competition (and always say no to the first offer) and you should get the best possible prie in your area. good luck..
  • tlb5tlb5 Posts: 35
    ritazz,

    sorry - haven't checked the forum in awhile. email me at rcirz2@irr.com and i can send you his info (want to follow forum rules and not disclose specific dealer names over the forum and i do NOT see him listed on the serramonte site so i can't just point you there...)
  • roblawroblaw Posts: 17
    I am looking for a 2011 RX 350 AWD in SE Pennsylvania/S. Jersey with Prem., Comfort, Tow, NAV, 12 Speaker. It seems the car was about $48,300.00 but is now around $49,000.00 with the new price increase. I am looking for a 36 mo. 12k lease. Actual dealer cost from Truecar (with holdback removed and advertising fee added in) is about $42,600.00 for the pre-price increase car. Has anyone gotten close to about $44,000.00 for that car? I am also looking of the additional loyalty cash of $1000.00.

    And Carman, can you tell me the current lease factor for April?

    Thanks.
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