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

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Comments

  • cubescubescubescubes Posts: 10
    I am planning to lease a FWD+Premium Package+heated seats+rear view camera + parking assist+wood and leather steering + shift knob. MSRP is about 44K and I am being quoted in the range 41-42K. Is this OK? I am thinking 12-14% off MSRP is a reasonable price. All the dealers seem to be playing up the earthquake in Japan but as far as I can tell, it did not travel all the way to Canada.

    Does anybody know the money factor for June 2011?

    Thanks in advance

    Cubes
  • hi 03qx,

    please let me know which dealer you got your deal also can you give me the sales name? i got a deal for 670/month incl tax. your deal sounds really good. thank you.
  • I live in So Cal area and would like to but a RX 350 with Navigation system soon. If you are interested in buying the same car or other Lexus cars, please join me. I think we can get more bargain power if the dealer sees 3 or 4 buyers at the same time.
    So far I got 1 person who can buy with me. I hope to get more.
    Email to cooperchien@yahoo.com
  • metronymetrony Posts: 5
    In CT and received the following offers for a RX350, 48 mo, 12K. Looking at a base model with Premium pkg only. I know offers vary for each region, but my offers still seem really subpar compared to most on this forum, esp since the lease is for 48 months, we're not getting a lot of added features. Is there anyone from the tri-state area that has recently gotten a RX350 lease?

    Furthermore, offer 1 is for a vehicle that has been with the dealer since Oct 2010 (is this usual?) and has been sitting at their garage lot for quite some time. Other than some minor scratches on the bumper, the car looked fine. The dealership initially presented the offer at list price and presented a revised offer (seen below) within minutes, and with no negotiating on our part. It felt like the dealer was trying to unload the vehicle. Is there anything we should be wary of? Clearly we're not seasoned pro's at this (having been city dwellers until recently), so I'm looking to enlist the experts and heed their advice!! ;) Thanks!

    Offer 1, FWD, Premium
    $42,584 MSRP
    $40,584 Offer
    $2,500 Drive off
    $549 per month

    Offer 2, AWD, Premium
    $3,200 drive off
    $578 per month
  • Here is my offered lease price at the dealership:
    RX350
    36 months/10k miles. Premium package with navigation.
    $550 with 4000 down payment. All tax and fees included.
    I am in SoCal.
  • dglozmandglozman Posts: 177
    What would be current money factor and residual value for a 36 month lease of a 2011 RX 350 AWD with 10,000 miles?

    I also wandering how do you find out this information? Is it available somewhere to look it up?

    Also, could someone share their recent lease info for the 2011 RX 350 AWD with 10,000 miles? Considering the MSRP is $48300 or $48600 (with and without park assist), what would be good realistic selling price?

    Thanks,
    D
  • davidesqdavidesq Posts: 3
    edited June 2011
    Offer on RX350 AWD w/Nav, comfort, premium, parking assist (we're in NJ).
    $639/mo - $3800 down.

    I know that's high but what's complicating my figuring out how good a deal is that they're also taking back our current 2009 RX350, taking care of the last 2 payments, and "forgiving" our excess milage. We're about 16000 (!) miles over our limit (my wife had a job change halfway through our lease which added about 300 miles a week to our driving).

    Under the lease, we'd owe about $4000 on those miles. I prefer to get the 2011 than purchase the 2009 if we can get a fair offer.
  • nacho2nacho2 Posts: 82
    Happy,
    Don't put that much down on the lease, just drive off. In case the vehicle is totaled you will not get that money back. Best bet find out the selling price of the car, speak to the General sales manager at the end of the month, tell them you will give them a 100%CSI.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey dglozman. Lexus Financial Services' buy rate lease money factor and residual value for a 36 month lease of a 2011 RX 350 AWD with 10,000 miles per year are .00165 and 60%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    Unfortunately, I am not aware of any source that provides accurate information on manufacturers' current programs to the general public.

    Normally I would advise someone who was in the market for an '11 RX 350 to shoot for $500 to $1,000 over dealer invoice, but I'm not sure what the inventory situation is like for this model right now. If they are in short supply as a result of the Japanese supply disruption then one might have to pay more than that.

    Car_man
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  • dglozmandglozman Posts: 177
    It is funny, but I'm also in NJ and also have current 2009 RX350 with two payments left. But we only have 22k on odometer.
    What dealership did you visit? We live in central NJ, and so far only went to Freehold Lexus - the same one that we leased out current car. I want also to try Bridgewater since they are participating in Costco Auto program.

    D
  • dglozmandglozman Posts: 177
    Thank you Car_man.
    I was asking where do you get money factor and residual value information. Is it published on the Lexus website?
  • davidesqdavidesq Posts: 3
    The quote I listed above is from Prestige Lexus but our current lease is from Bridgewater (only 15 minutes from where we live) and we're waiting to hear back from them tomorrow on what sort of deal they'd make. Their original lease offers were too high but hoping they'll come down. We were paying $585 on our '09 Pebble Beach (paid $1300 or so upfront but that included the first month so it was pretty much nothing down other than the required stuff).

    We had a 36K lease and are approaching 52K on the odometer with 6 weeks to go on the lease. That job location change killed us! Pretty much have to stick with Lexus and hope to get a good deal to get some discount on the extra miles. We love the RX350 so no problem there - just trying to get as good a deal as possible. We "owe" about $4000 on the extra miles and not sure how much we should figure would be reasonable for them to add to whatever bottom line we can neogtiate. Clearly they can discount that $4000 but clearly we'll have to pay something above what someone else would be paying who didn't have the overage.
  • dglozmandglozman Posts: 177
    edited June 2011
    Considering that the purchase price is 44K. MSRP is 48,900. Residual is 60%. Money Factor is .00165. 36 Months lease. $0 cap cost reduction (or I can apply $1000 incentive for current Lexus lease holders). 7% tax that I would want to put into the payments.
    I get $533 a month not including Title, registration and fees. Am I correct?
  • metronymetrony Posts: 5
    Car_man,

    What is the money factor and residual for 36mo lease, 12K miles per year?

    I'm looking at a base model only and thus, I have the lowest purchase price ($40.5) I've come across on these forums. Yet, my costs ($549/mo, $2,500 walk away) do not reflect that. I must be doing something wrong with my math.

    Please help!!!!!

    Metrony
  • cubescubescubescubes Posts: 10
    If you are buying the base model, I think your purchase price should be more than 3000 less than 40,500, no?

    As per Car_man's previous post: MF = 0.00165, RV=60% for T +1
  • dglozmandglozman Posts: 177
    Agreed to the deal from Freehold Lexus in NJ. RX350 AWD with Navigation package (I believe MSRP is $48600). 36mo, 10K miles per year. $555 per month (including taxes), $1700 initial payment(includes 1st payment, Bank fee, Doc fee, and title/registration charges). It also includes 1k loyalty rebate and one payment for my current lease.
    I probably could of done a little better then that, but I think it is a good deal.
  • davidesqdavidesq Posts: 3
    We just picked up ours yesterday! Ended up with what I think is a pretty good deal all things considered. RX350 AWD, Nav, Comfort, Premium, parking assist, leather trim. 15K miles/year. Did $660 per month (inc. tax) and $2100 initial payment. The rate and initial payment also took care of our last payment on the prior car plus 16,200 miles over our limit on the old lease (which would have had us on the hook for over $4000 if we didn't make some deal).
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're welcome dglozman. No Lexus does not provide consumers with information on its money factors and residual values on its website.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello metrony. Lexus Financial Services' June buy rate lease money factor and residual value for a 36 month lease of a 2011 RX 350 AWD with 12,000 miles per year are .00165 and 59%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    Car_man
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    Prices Paid: Buying & Leasing Experiences Forum
  • colotjcolotj Posts: 18
    Hey Car_man, just quoted a money factor of .00195 and residual value of 59%. Is this accurate as of July 5th?
  • colotjcolotj Posts: 18
    I thought I knew a thing or two about leases but apparently not. Help me out here please.

    Msrp. 49804
    Disc 1804
    Selling price 48000. I know, too much but humor me.

    Dealer fee 406.70

    Net down 4257.00 which in ides first payment.

    Residual 59%

    Payment $561.31 plus taxes.

    I was under the assumption that the 59% was calculated from MSRP. That would put the residual at $29384.36 which is listed on my quote.

    That would mean that the lease was based on $20419.64 ($49804.00 - $29384.36)

    $20419.64 - $3288.99(net money down) = $17130.65 financed on lease.

    Money factor = .00195 or 4.68% (.00195x2400)

    Per the amortization schedule my payment should be $511.88/month for 36 months.

    What am I missing?
  • colotjcolotj Posts: 18
    Whoops. I forgot to calculate the difference of selling price and MSRP.

    So MSRP $49804-$48000=$1804.00

    $17130.65-$1804.00=$15326.65 net leased price.

    $15326.65 at 4.8%(.00195 money factor) = $457.98 + taxes for 36 months.
  • kyfdxkyfdx Posts: 29,368
    You aren't borrowing the depreciation.... you are borrowing the entire selling price, then paying it down to the residual, over the term of the lease...

    There is really no point in converting the money factor to an interest rate, then trying to calculate amortization. Leases are figured on straight line depreciation. Use the formula.

    MODERATOR
    Prices Paid, Lease Questions, SUVs

  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi colotj. The residual value looks good, but the money factor that you were quoted is too high. According to the information that I have seen, Lexus Financial Services' July buy rate lease money factor for the 2011 RX350 is only .00165 for consumers who qualify for its top aka Tier 1+ credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi colotj. You can use the formula that is outlined in the following article to calculate your vehicle's payment: Calculate Your Own Lease Payment.

    Car_man
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  • me2011me2011 Posts: 2
    Does anybody know if Lexus will have its semi annual Golden Opportunity sale at the end of July?
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    That's an excellent question, me2011. Normally I wouldn't be surprised if Lexus did introduce some incentives enhancements at the end of this month, but the the tragic quake and the resulting lack of inventory (though the situation is getting better) Lexus might stand pat and not make any enhancements. It will be interesting to see what they do. If I was in the market for a new Lexus and I wasn't in an extreme hurry I would at least wait until the end of the month to lease. At the very least you should be in a stronger bargaining position with the dealer as they try to squeeze as many sales into the month as they can and who knows, the incentives might get better as an added bonus.

    Car_man
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  • gwarrenflgwarrenfl Posts: 72
    Car_man,
    I posted in the IS 250 Site regarding the same and another question. Can you visit when you can please?
    Gwarren
  • me2011me2011 Posts: 2
    My dealer told me that the money factor was reduced this morning with a new lexus lease program but he didn't tell me what it had been reduced too. Does anybody on here know what the money factor and residual percent is for a 36 months lease, 10k miles per year? The msrp is 48647. Sales price is $44,999. $1,000 loyalty in addition. What would be my monthly payments before taxes and how much taxes are taken if you pay upfront?
  • kay35kay35 Posts: 1
    Hi! Our local dealership--Lexus of New Orleans tells me the best money factor on 2011 RX 350 is .00236--is that true??
This discussion has been closed.