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

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Comments

  • jane3jane3 Posts: 21
    My husband was reading these edmunds boards and told me that when looking at lease prices, that a good deal is about 40% of the MSRP divided by the number of months on the lease (assuming 36months and 15000 miles). Is that correct? I am looking at a 2011 RX AWD with nav, prem, comfort, and remote start, MSRP at $48700, trying to get price of $42000 and deciding to lease or buy.

    Thanks
  • roblawroblaw Posts: 17
    I do not know where you are so I cannot speak to the competitiveness of your market. Truecar gives the true dealer cost (invoice minus the dealer holdback with the advertising added in) at $42,600.00 for the pre-price increase car I priced out (a few hundred less than yours at about $48,300.00).

    I got a what I perceive as a fair offer in PA of $44,000.00 and I keep the $1000.00 Lexus loyalty money. That gives the dealer about $1400.00 profit. Yes, I could have shopped 10 dealers, wasted many hours of my time and probably saved a few hundred dollars. No negotiation was necessary with this offer. Truecar dealer cost is probably a few hundred higher, maybe $42,900.00 on your car. Since this is the dealer's actual cost I would be surprised if a dealer is willing to lose $900.00 to sell a vehicle. The dealer I last purchased my last RX 350 would not come below $46,500.00 for the vehicle I priced out so I feel that my agreed price is probably decent.

    Good luck.
  • jane3jane3 Posts: 21
    Thanks, good to know your numbers. I will use trucar and aim for $44000.
  • roblawroblaw Posts: 17
    Jane: Did you ever nail down a price? I see people saying that they got lower than actual dealer cost. The Truecar price is supposed to be actual dealer cost (not invoice), yet a few posts from different areas of the country show prices below cost (meaning even after the dealer holdback is removed). I do not see how a dealer is going to lose money on a deal. I went to my current dealer and they would not come below $46500.00 and I got $44,000.00 without arguing for my current offer. I know I could have solicited offers from multiple dealers but I do not have the time nor the inclination to do that.

    What was your experience? Are you local to SE PA/NJ?
  • delta737hdelta737h Posts: 603
    The Truecar price does NOT reflect dealer cost. In fact, very few people inside a dealership know the actual cost to the dealer. No dealership is going to entrust revolving door sales personnel with proprietary cost information for competitive reasons. Moreover, there are so many other costs that factor into the dealer cost other than holdback. Floor plan costs or the cost of financing is one such cost. Other costs include manufacturer to dealer incentives not generally known to the public.

    John
    The AutoLeaseGeek
  • roblawroblaw Posts: 17
    Thanks, John. Then if I settle for $4400.00 off a $48,300.00 Lexus (Truecar profit of $1400.00 for the dealer) am I leaving too much on the table. Some posters are suggesting that they are getting cars far lower than invoice, even accounting for the holdback. I am OK with the dealer making a profit and I am not inclined to waste my time (because I bill by the hour) going back and forth with 10 dealers. unless you are suggesting that I am leaving several thousand dollars on the table. These incentives you speak of, neither Edmunds nor other sites finds out about them?
  • delta737hdelta737h Posts: 603
    edited April 2011
    roblaw,

    Dealer profit is irrelevant as far as the customer is concerned. I suggest letting the dealer worry about whether or not they're making a profit. Consumers have no clue what a dealer's profit margin is on any given deal. I would comb truecar pricing as well as edmunds and amex (zag.com) to get a rough idea of pricing in your region. Start with invoice and deduct holdback, incentives, and, then, knock off another $1,000 or so for good measure. Some incentives are proprietary and are not published. So, yes, edmunds and truecar would have no knowledge of them.

    Also, you may want to print out or download my sample lease proposal by clicking on HERE at...

    https://autoleasegeek.com/services/custom-lease-proposal

    Remember, you can always come up but never down when negotiating the sell price.

    Hope this helps.

    John
    TheAutoLeaseGeek
  • jane3jane3 Posts: 21
    One dealer called on monday with an offER of $44655 but wanted me to sign ASAP, and I had meetings that night. I am going back this weekend to nail down a deal if I can for $44000 to 45000 as my ideal price point.
  • zoranzoran Posts: 68
    Any one with latest deals on lease?
  • louiesmomlouiesmom Posts: 10
    ok so, I just closed a deal today and well, I'm not sure I got the 'best' deal but, I am okay with the deal I did get. Here goes:
    They took my 08 GX470 lease back with 12 remaining lease payments (I was getting too close to being over on my miles). They bought the truck (and remaining payments) from the bank.
    I got a 2011 RX350 AWD Fully loaded, NAV, Comfort, Premium pkgs, Park Assist...
    MSRP $52560
    neg price: $46403
    48 month lease with 12k miles per year
    Residual: 47%
    Money Factor: 0.00155
    Payment: $599 per month
    Due @ signing: 1st month payment + DMV fee + plate fee

    They basically just transferred me into a new truck with the same payment that I had with my GX with virtually no money out of pocket @ signing. I think I might have been able to get a better deal if I went to more dealerships and really haggled with the price of my GX, I just don't have that kind of time to invest in it.

    Good luck everyone!
  • chas0215chas0215 Posts: 40
    Honestly, your lease deal sounds to good to be true. Could you just clarify the following: you put absolutely no other money down other than what you previiously indicated and they purchased your truck with 12 remaining payments with no negative equity (i.e. Additional out of pocket money to be paid by you)? I did the math on a lease calculator and I can't duplicate your deal. What part of the country do you live in? What about sales tax and the bank fee? Was all of this rolled into the monthly payment as well? I would greatly appreciate any additional information you could provide. I am in the NYC metro area. Thanks.
  • david2udavid2u Posts: 37
    I have been watching the discussions here and today, this is what I got.
    2011 RX 350 AWD, Premium, Nav, luxury.
    12K per year, 42 months, 509.45 monthly.
    I pay the tax, fees, and MV.
    Decent Deal I thought.
  • How does this sound to the experts on this board as i really need help with this deal...appreciate any opinions you could offer...

    RX 350 AWD
    Premium Pkg
    Comfort Pkg
    Nav system
    Preferred accessory pkg
    Wood trim
    Premium audio
    Intiuitive parking

    36 mo lease - actual cap cost to me = $44K
    21K miles /year (salesmen job)
    1st mo paymt/bank fee $750 and DMV fees $450

    Was quoted $680.month with sales tax included - dealer in PA
  • roblawroblaw Posts: 17
    Dan999:

    I can only tell you what I got. I have no idea in PA where you are. I recently (2 weeks) got a similar car (without the intuitive assist), list price $48,385.00 for basically the same out of pocket on a 36 month lease (12k per year) for about $580.00 per month including tax. This was a cap cost of $44,000.00 plus I got $1000 Lexus loyalty money. I am not aware how much the cost of the extra miles and parking assist will add to the payment. I had a very pleasant experience with a young lady at Wilkie Lexus and would be pleased to give you her name if you contact me offlist.

    Please understand that I did zero negotiation. I looked on these lists and gave the dealer a number that I thought was fair, knowing that I could have shopped ten dealers and gotten a lower number if I wanted to waste a lot of my time and endure hours of stress. They took my offer without a fight, added no junk fees, and the overall experience was painless.
  • thx for reply - i think the extra miles will add about $125/month as the residual drops by about 10% on the additonal mileage which is about $4400 over 36 months from a quick calculation so i would end up at your $580/mo + 125 equaling about $705 so the $680 looks reasonable - at least it would appear i am not getting really taken to the cleaners...

    thx again..
  • junap1junap1 Posts: 2
    I am interested in the same deal you negotiated at Wilkie. Do you have the name of the sales woman you dealt with? I was just at Thompson Lexus 2 days ago and they gave me a $705/month lease quote, 36 months/12k/yr: based on MSRP of $48906.
  • 03qx03qx Posts: 19
    2011 RX350 FWD
    Premium Package
    Nav System
    Vent Seats
    Cargo Mat
    19' Wheels
    Cargo Net
    Wheel Locks
    Wood & leather Wheel and Shift
    Cross Bars

    MSRP = $ 46,236
    36 Mo 12K Lease
    Drive Off was 1st Pmt and Calif License Fee ( $1,200 )
    Pmt = $ 512 Plus tax Per Month

    By far best deal I could find
  • roblawroblaw Posts: 17
    junap1: My car was the pre-price increase so it was a bit less expensive. Thompson was where I purchased my last Lexus and was not even in the ballpark on this deal. My car was $44k on a $48,385 list. I was about $1600.00 out of pocket which was the bank fee, first month and normal title and tag fees (no capital cost reduction). My car with PA taxes is about $580.00 and change per month. The rules do not allow me to post my email address in the message. If you go in and make your email public and send me a response I will email you the name of my salesperson at Wilkie. She was a pleasure to deal with.
  • dan999d999dan999d999 Posts: 4
    Does anyone know what the new money factor is for May 2011?

    I know over at Acura they dropped it from .00145 in April to .00130 for May .....and since Lexus was also .00145 in April, i am hoping they have changed it also...

    Thanks
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I certainly do dan999d999. Lexus Financial Services' May buy rate lease money factor and residual value for a 36 month lease of a 2011 RX 350 AWD with 15,000 miles per year are .00165 and 57%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • dan999d999dan999d999 Posts: 4
    So how is it that Acura dropped their lease factor from April .00145 to May .00130 while Lexus increased from April .00145 to May .00165?? Don't they have the same financial lendors they deal with (corporate level)...

    Doesn't make sense - i was hoping for a corresponding drop to negotiate a better deal...

    Maybe i should reconsider the MDX with the better money factor - would save me about $30/month - i like both cars and would not mind either one...
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey dan999d999. These are all considered to be special or supported lease money factors. If a manufacturer cuts back on its support, which I expect a lot of Japanese automakers to do given their supply constraints, the money factors will rise.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • roll_tide1roll_tide1 Posts: 1
    Hi 03gx

    Your deal sounds great!! Which SoCal dealership did you go to?? I'm in Redondo Beach and looking for the same RX package. I'm handing over my 08 GX 470 :(
    I've was quoted $617 w/ tax with $2000 drive off.

    Anyone else reading this in SoCal who got great deal, I would love to hear.
    I've also been quoted $48350 MSRP, 36-mo lease, 12k miles, $2000 drive off, $680/mo incl tax:
    FWD
    Premium
    Comfort
    Towing
    Nav
    Premium Audio
    Park Assist

    This quote sounds high especially with the MF rates I've seen here.

    Thanks!
  • marks1965marks1965 Posts: 10
    Tried to do the interent thing. Received a response from a northern NJ dealer, quoting me a lease price of $625 per month, $1800 down, 36 months/12,000 miles per year. List was $48,500 and he said he would give me the car for $44,500. Vehicle had basically everything, including navigational system. He told me he had no more room and the price was the price. I thought the price was somewhat high. Any comments. Thanks.
  • roblawroblaw Posts: 17
    It's not bad. I only did about $200 better on the front end but your monthly is about $45 higher which does seem high since mine my cap cost was about $500 lower. The money factor may be higher now in May then in April when I leased. I imagine the overall costs will be higher going forward than my payment ($1600 at signing and $530 per month plus PA tax based on $48,385.00 list and cap cost of $44,000.00) which I locked in about when the tsunami hit (car is about a month old now). Try Wilkie Lexus in Haverford and ask for Kristi. She worked with me and was a pleasure.
  • marks1965marks1965 Posts: 10
    Here's another deal I was quoted:

    AWD, Comfort Package, Premium Audio System, Nav. Package, Premium Package, Towing, Wood, Preferred Accessory package. $537/month, 36 months, 12k miles per year, $3,000 down. I don't want to put that much down though.
  • nacho2nacho2 Posts: 82
    03gx,
    I reside in Los Angeles, and wanted to know which dealership provided you with this deal? Going to take my wife to the dealership to test drive the car. I am a previous owner of a Lexus ex 350. Thanks in advance for your help, and congrats on your car :)
  • sesarjsesarj Posts: 34
    Which dealer? I am looking for the same car in SoCal.
  • sesarjsesarj Posts: 34
    Made a deal in SoCal this weekend. $1200 Drive off, 570/mo incl. tax

    RX350
    MSRP 46246

    Had a minivan with 2 months left on lease and Lexus loyalty.
  • nacho2nacho2 Posts: 82
    Congrats on the car, did Lexus pay the last 2 payments on your minivan? What was the Money Factor, residual, and mileage? Thanks and congrats on your car ;)
This discussion has been closed.