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

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  • timmyb2timmyb2 Posts: 2
    Hi Car_man,

    Do you have any info on the MF and residual value for a 2011 AWD RX 350, 36 month lease (both 10k and 12k miles a year)?

    Thanks,
    Tim
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi me2011. Lexus Financial Services' new enhanced 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 .00140 and 60%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    Using these numbers, an MSRP of $48,647 and a selling price of $43,999, I estimate that this truck would have a zero down, pre-tax monthly payment of around $514.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Tim. Lexus Financial Services' August 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 .00140 and 59%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    The residual value for a lease with only 10,000 miles per year is 1% higher.

    Car_man
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  • feyestfeyest Posts: 1
    Car Man..thanks for all the help on this site. So, I have learned to try and negotiate the best cap cost I can at the start of my negotiatons, which I do. I don't indicate, buy or lease, just do my best on the selling price. I am coming off an RX 350 lease (2009) and I am trying to get the new model at or near invoice. So, my question is-do the dealers arbitrally play with money factors and residuals based on the negotiated price. I don't understand why I can't negotiate my best price first, and they set up the lease or buy. Me thinks this is how they retain the mystique. Another question--my husband I disagree on this one. I really want payment around $350 to $400. I was going to buy out my soon to end lease and resell ( I think the market is about 5K over my residual-about 21K now) I would then use that money as a cap cost reducer. He says makes no sense to reduce cap cost on a lease?
  • chuckjrchuckjr Posts: 61
    The main deal with leasing is you are trying to get them to "sell" you the car for the lowest amount, just as if you were buying. This low price helps in the calculations used to calculate the lease payment. The money factor and residual is pre-set by Lexus/toyota and are used to calculate the rest. The sale price is your chance to negotiate down.
    I think lexus will give you $1000 loyalty and because the used car maket (locally in LA) is lacking in good inventory your 09 may have equity.

    Reducing cap cost lowers the payment but why waste the money when you can take that money and invest it.

    I was able to get into an RX350 within 24 hours. I had been waiting to swap out my 08 MDX for a new Acura but the incentives weren't there and the 2012 aren't out. On the off chance that Lexus could get me in the door they made it work.

    LA south bay lexus dealer
    2011 rx 350 w premium package.
    Unnecessary add-ons - roof rails, wood steering and ventilated seats (nice), cargo mat and wheel locks.
    MSRP-$43,471
    Sale price - $40050
    MF .0014
    10K - 3 yr - 60% residual
    cap cost reduction ($1000 equity on MDX lease plus $47)
    $450 Title registration
    $496 first months payment

    $456 before tax - $496 after tax lease
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi feyest. Generally speaking, dealers are not allowed to alter banks' residual values. They can however and often do mark up vehicles' money factors to add additional hidden, back-end profit to deals. That's why it is important to know what the buy rate should be for the vehicle that you want prior to entering into negotiations.

    Car_man
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  • joep17joep17 Posts: 3
    edited August 2011
    Thanks you in advance for taking the time to respond, I appreciate what you do here on the site. Here are the details of a potential lease I am looking at right now for the RX 350:

    MSRP $49,347
    Net Cap Cost $43,998
    MF .00140
    Lease: 36 Month
    Residual: 59%

    Asking for 12K miles/per year. Latest offer is $500 per/mo with $6,000 down (includes first month payment). Im in NY/NJ area.

    Any help/advice would be greatly appreciated. Thanks.
  • joep17joep17 Posts: 3
    Thanks you in advance for taking the time to respond, I appreciate what you do here on the site. Here are the details of a potential lease I am looking at right now for the RX 350:

    MSRP $49,347
    Net Cap Cost $43,998
    MF .00140
    Lease: 36 Month
    Residual: 59%

    Asking for 12K miles/per year. Latest offer is $500 per/mo with $6,000 down (includes first month payment). Im in NY/NJ area.

    Any help/advice would be greatly appreciated. Thanks.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi joep17. The money factor that you were quoted is right on the money. That's a good thing. The selling price that you were quoted looks good as well.

    Having said that, $6,000 is way too much money to put down. I always advise consumers to put as little money down as possible when leasing. Consumers who make large down payments on leased vehicles risk losing part or all of the money that they put down if their vehicle is totaled in an accident or stolen and never recovered. Even though it means that your monthly payment will be higher, it's safer to go with a zero down lease.

    Car_man
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  • joep17joep17 Posts: 3
    Agreed. Once I saw that $2,564 went to cap reduction I ended up taking that out and getting the following deal:

    $3523 down (includes first month payment)
    $575 per/mo (36 months)

    We then discussed buying outright rather than lease. They offered up same money down $800 per/mo for 5 years.

    Does that seem reasonable knowing current rates?
  • I didn't look at all of the lease numbers, worked to get a bottom line lease payment which I felt was a good deal.

    RX350 FWD with Nav, Comfort, Premium, Parking Assist and some misc.
    MSRP $48,405
    Lease Payment $535/month, includes taxes, on a 36 Month lease with 12,000 miles.
    Put down $3000

    Thoughts on the deal?
  • As long as the dealer is using the same attractive selling price, all you need to look at if you switch to financing is the interest rate that you are being charged. Interest rates are very low right now, so if you aren't happy with what the dealer offers you can always finance through a local bank or credit union.

    Car_man
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  • Hi -
    Do you think it is ok to lease a DEMO car? It has about 5,600 miles on it. Not sure if I got ripped off or not

    2011 RX 350 AWD w/ nav, prem package, comfort package, 19" alloy wheels, towing prep package and other misc add ons

    MSRP 48,645
    Selling Price 45,745
    Money Factor .00014
    36 month 10,000 mile lease

    Offer $589 month, with 3,368 down which includes 1st month payment.

    Thank you for your input
  • devs6devs6 Posts: 11
    Car_man

    Can you post the numbers for a 2011 rx350 awd 35 month lease at 10k mile a year .

    I see the money factor of .00014 but no one supplied the residual value on a non nav vehicle.

    I dont know if that makes a difference in lexus residual values

    thank you
  • Hi binc1163. Something's off with the money factor that you were quoted for this truck. Lexus Financial Services' current buy rate for a 2011 RX350 AWD should be around .00110 for consumers who qualify for its top aka "Tier 1+" credit tier.

    As far as the selling price goes, the problem that I personally have with demo vehicles is that dealers rarely seem to be willing to discount what is essentially a low mileage used vehicle enough for my taste. Let's take a look at the selling price that you were quoted. There's probably a spread of around $4,000 between this truck's full MSRP and its dealer invoice price. In order for me to justify purchasing a demo, I personally would want to get it for under invoice...that means a discount of at least $4,000 and preferably more. You were quoted a $2,900 discount. That's probably equivalent to a little over $1,000 over invoice, which isn't terrible for a brand new truck but again I personally would want more of a discount on a demo. Some people might not require as large an additional discount to go with a demo, but I'm picky ;) .

    Car_man
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  • Here you go devs6. Lexus Financial Services' September buy rate lease money factor and residual value for a 36 month lease of a 2011 RX350 AWD with 10,000 miles per year are .00110 and 57%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier. The addition of navigation does not have any impact upon this truck's lease program, but the addition of the rear entertainment system does.

    Car_man
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  • Hi Car_Man,

    Thank you for your input, it was hard enough getting this out of them, I don't know why these car dealers think they are doing you a favor. Ugh!! I hate buying cars.

    Thank you again
  • You're very welcome binc1163.

    Car_man
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  • Hi Car_Man-
    Can you give me the buy rate for a 2012 RX 350 in So. Cal. I'm looking to get into a 36 month/10K per year lease and wanted to know what the money factor buy rate is/what the best deal I can hope for plus what the residual is. Also, any thoughts on how much I can expect for discount off of MSRP. I know they're dealing on 2011's but think dealer is having trouble finding what we want so we're using a build allocation for a 2012. Thoughts?
  • Im trying to get money factor and residuals on Rx350 and RX450 for 36 months and 15k a year. I live in central jersey and the dealers are coming back to me with 700 and change for the 350.
    I returning my 09 Pebble beach soon and i only pay 500 with nothing down with 15k a year. I just don't understand how they are getting these numbers!!
  • I certainly can, hockey29. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2012 RX 350 FWD with 10,000 miles per year are .00190 and 61%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    I'm not personally all that familiar with what the market is like for the RX in your area right now, but you might be able to get an idea by stopping by the following discussion: Lexus RX 350 Prices Paid and Buying Experience.

    Keep in mind that if you order a vehicle that you probably won't be able to get as large a discount as if you had leased one that was in dealer inventory.

    Car_man
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  • Hi Blessendc. In your area right now, Lexus Financial Services' 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 .00110 and 54%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    The numbers for an otherwise identical lease of a 2011 RX 450h AWD are .00190 and 53%.

    Car_man
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  • Hi Car Man.

    Could you let me know the Lexus Financial money factor and residual rates for a RX 350 with Nav for a 2011 model year versus the 2012 model year for the Boston area? I'm trading a 2009 Pebble Beach edition they are being stingy with the details on their assumptions. They quoted me a 240 money factor for a '12 which seems high and I am somewhat indifferent between a '11 and a '12. Also, if possible, can you provide the same info for 36 months and 48 months.

    Thanks very much.
  • I'm looking to lease a 2011 RX350 AWD with NAV and whatever else comes with it (sticker around 49k). I would like to trade in my current 09 RX350 (fully loaded with NAV), 36.1k miles, very clean and 1 payment left.
    What do you guys think I could get for it from Lexus dealers if I decide to trade it in?
    Thanks.
  • Time flys!

    Way back in post 1114 in this thread I posted my lease deal - during the start of the recession. I think I got a great deal. My buy out price in the the mid20's and the fmv seems to be $30-32K. Vehicle is in good shape, low miles and all the rest is all good.

    My lease ends in mid-Dec. The dealer came calling the other day and spoke to my wife (who's name the lease is in) and said we may have value in the car. The said we should visit the dealer so they can inspect the car and consider if they want to make us a deal (higher than the buy out price). She did ask about how that works in terms of taxes (leases only charge you for the portion you 'own' not the entire vehicle in New York)...they said if the deal was done with them (they are a NJ dealer) there would be no tax event. We would have the choice of buying/leasing a new vehicle or walking away with the buyout dollars.

    OK...now for the question - I'm generally suspicious of too good to be true...and of car dealers especially....I know it's rare for a lease to have meaningful value at termination - but does anyone have experience with this 'problem.'

    THX!
  • cuddcudd Posts: 2
    I can't seem to get the numbers to tie based on my current regional promotion of $469 month for a 2011 Lexus RX 350 AWD.

    MSRP - 45,812
    Residual Value (57%) - 26,113
    Cap Cost Reduction - 3,000

    Total Depreciation = 45,812 - 3,000 - 26,113 = 16,699
    Monthly Depreciation (36 months) = 463.86

    Based on my math above, the money factor on the lease is almost zero given that the ad specifies $469 a month. A money factor of 0.0011 adds $79 a month to the lease, which gets me to $543.
  • Hi mboston. Lexus Financial Services' September buy rate lease money factor and residual value for a 36 month lease of a 2011 RX 350 AWD with Navigation and 15,000 miles per year in your area are .00110 and 54%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    The numbers for an otherwise identical lease of a 2012 model are .00190 and 58%.

    As you suspected, the money factor that you were quoted on the 2012 model is indeed too high.

    Car_man
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  • avmbaavmba Posts: 24
    Hi Car_Man,

    Looking to see if OCtober MF and Residual changed at all. Looking to lease a 2WD RX350 with Nav, Luxury package, and a few other options - 36 mos and 12k or 15k miles for top tier.

    Thanks!
  • Here you go avmba. Lexus Financial Services' October 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 .00180 and 58%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    The residual value for a lease with only 12,000 miles per year would be 2% higher.

    Car_man
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  • avmbaavmba Posts: 24
    Thanks, Car_Man. I was actually interested in a FWD - is there any change to the MF or residual?
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