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

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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi infinitiluv. Lexus Financial Services' May buy rate lease money factor and residual value for a 36-month lease of a 2013 RX 350 AWD with 12,000 miles per year are .00075 and 58% for consumers who qualify for its top credit tier.

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

    This truck's lease payment will vary depending upon what its selling price is. The vehicle that you're interested in probably has a spread of around $3,000 or so between its full MSRP and its dealer invoice price. Add the $1,500 cash incentive to that and you have around $4,500 to play with in your negotiations. Let's say that you are in an area that has a decent level of competition and you are able to negotiate a $4,000 discount.

    According to my calculations, if you were to lease a 2013 RX 350 AWD that has an MSRP of $49,190 and a selling price of 45,190 through Lexus Financial Services right now for 36-months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $519.

    Lowering the mileage allowance to 10,000 miles per year would drop the payment to around $505.

    Car_man
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  • cupertinocupertino Posts: 12
    car_man

    Do you know if F-sport include "tow prep package" which has heavy-duty alternator & heavy-duty radiator as standard package or can I order it ?
  • nyc_f30nyc_f30 Posts: 1
    Hi car_man,
    do you have the MF and RV for the 27 month leases on an RX 350 AWD in the NE region?
    thanks!
  • badger1994badger1994 Posts: 17
    Car_man,

    I have a curve ball for you.
    Assuming that CPO cars lease the same as new cars, do you have the MF and residual #s for 2010 and 2011 RX 350s (AWD)? Please assume tier 1+ credit tier, 3 year and 12k/year.
    If CPO cars are leased using a different formula, any info you have on how to calculate the lease price from dealer inputs (to see where they're getting their profit) would be appreciated.

    I'm guessing that depreciation starting from year 3 or 4 is considerably less than it is in year 1 or 2, so how that impacts lease calculations would seem to be important.

    Thank you,

    Badger1994
  • momma25momma25 Posts: 1
    Car_man,
    You speak of the spread between full MSRP and its dealer invoice price. What is that spread for the 450h? They still have the $1,500 cash incentive on a lease until Monday I believe.

    MSRP $55745 - sale price $53245(includes a rebate) + adds=$55854
  • gavrikgavrik Posts: 31
    Can someone tell me where I can find the info on $1,500 rebate? Also, whether any loyalty rebates are available on RX350 in midwest.
  • guruunoguruuno Posts: 23
    We have a 2011 RX450h loaded, just put new Michelin tires, 40k miles, lease is up in December 2013, the car is flawless, we love it (Stargazer Black).
    Dealer offered to turn it in 6 months early (lease payment is $599), swap it for a new one with just a tad more options, same $599 for 33 months, 12k miles per year (original lease was 36 months, 15k miles per year).
    I'd probably push for the 15k per year to be equal, however, I have a few questions.

    The 1st is if I go online, and "build" my RX, I can with Heads Up Display, Heated Steering Wheel, Remote Start, yet none can be found anywhere in the country via dealer locator....is there any reason any dealer wouldn't order a few here and there, I don't understand why I'd have to order one "special" and potentially lose out on any 'special' offers, deals, spiffs, etc., and be forced to take what a dealer has on the lot......as well as I'm told, "Lexus only has 2 trim options for the 450H"? What? I cannot get the car I want if I'm willing to pay? (Sure, buy it, order it, wait, but come on, none are EVER ordered?) I cannot even get grey leather interior, only black or beige!

    So, in addition to my questions, here are the numbers, does the Money Factor look a bit high? What should I ask to be hammered out?

    $57335 MSRP
    $52,835 CAP cost - $1500 = $51,335
    $54,588 invoice
    59% residual
    .00075 mf

    $599 1st mo
    $329.50 NJ mv
    $700 bank fee
    $349 doc fee
    $1731 NJ sales tax

    $3708.50 total
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi nyc_f30. Lexus Financial Services' buy rate lease money factor and residual value for a 36-month lease of a 2013 RX 350 AWD with 15,000 miles per year are .00075 and 54% in the Northeast region.

    The money factor for a 27-month lease would be the same, but the residual value would be 62%.

    Lexus is providing a $1,500 cash incentive on leases of this truck right now.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi Badger1994. Leases of CPO vehicles are much less popular than leases of new vehicles. Compounding that, there is many more variables for CPO leases. As a result, I do not personally keep tabs on the details of CPO lease programs. Sorry that I could not be of more help.

    The main difference between leasing a new vehicle and a used one is that used vehicle residual values are usually dollar-based rather than a percentage like new vehicle residuals are.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey momma25. You can look up the exact spread between MSRP and invoice on the specific RX that you are interested in over in the New Vehicle Pricing section of Edmunds.com.

    The $1,500 cash incentive is still available on leases of this model in June.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello gavrik. The $1,500 cash incentive is still available on the 2013 RX. You can read about it here:

    http://www.edmunds.com/lexus/rx-350/2013/car-incentives.html?style=200419751&irr- _section=customer_rebates_irr

    While there is not loyalty cash on this truck in certain regions, I don't think that the Midwest is one of them...at lease I haven't heard about it.

    Car_man
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  • guruunoguruuno Posts: 23
    To "build" my RX, I can with Heads Up Display, Heated Steering Wheel, Remote Start, yet none can be found anywhere in the country via dealer locator....is there any reason any dealer wouldn't order a few here and there, I don't understand why I'd have to order one "special" and potentially lose out on any 'special' offers, deals, spiffs, etc., and be forced to take what a dealer has on the lot......as well as I'm told, "Lexus only has 2 trim options for the 450H"? What? I cannot get the car I want if I'm willing to pay? (Sure, buy it, order it, wait, but come on, none are EVER ordered?) I cannot even get grey leather interior, only black or beige!
  • gavrikgavrik Posts: 31
    Thanks, car_man

    At the time I was looking at the very link, only Military discount was showing.

    Quick question regarding local lease deals here in Chicago. They advertise one lease: RX350 AWD with MSRP $44,625 for $399 per month with $2699 down payment, 10k miles per year, including 1st payment.

    I am having a hard time figuring out which numbers they are using in this calculation of $399 per month. Are there any additional fees that I am not aware of such as acquisition fee?
  • roho1roho1 Posts: 317
    I recall trying to order a Toyota and ran into the same thing. Each district has it's own contract with Toyota and the Southeast is the worst. A third party handles all dealers orders and you take what they ship or not. You may find the vehicle you want in a different area. I'm not sure if Lexus is run the same way as Toyota dealerships though.
  • Hello. I'm in a 2010 RX 350 and wanted to upgrade to 2013 Lexus RX350 F-Sport now that my current lease is about to expire. Does anyone have lease info on this particular vehicle? I'm located in CT and would like a 36 month lease, 10k per year, no money down. I would need MF and residual. I would qualify for Tier 1 credit. MSRP of this car is $52,275.00 - Any help would be appreciated. Thank you.
  • zheka212zheka212 Posts: 57
    Hi Car_man,

    can you clarify what the June residuals and money factors are for 27 month leases for the navi and non-navi AWD RX350 are?

    Thank you in advance!
  • smallballsmallball Posts: 1
    We have a leased RX350 which will expire in Aug this year. We would love to return it and get a new lease for 2013 Lexus RX 350. We live in Northern California and will travel down to Southern California in early August. I have an excellent credit score as well. I have a few questions re: the upcoming lease and return

    1. When is the best time to lease a new 2013 RX 350? Some people tell me 7/4 and some say wait until August when dealers give out certificates. We got our car in 2011 with a price $3000 below than the invoice since the dealer gave out 2 certificates ( $500/each). I believe this was a very good deal and would love to get at least the same deal.

    2. Is the deal better in Northern CA or Southern CA? As mentioned above, we have a chance to travel down to Southern CA and we can return our car and get a new lease there if the price is better.

    3. Want to find out if dealers can waive charges on excess miles on the old car. Please share your experiences. How many excess miles are acceptable and ca be waived?

    4. We have some obvious scratches on the back of car from our garage door. Want to find out if Lexus will charge us on this. Please share your experience.

    Thanks,
  • Hi Car_Man,

    I'm currently working a deal and so far it is looking good:

    2013 Lexus RX 350
    MSRP 49275
    Sale price 45080
    1500 lease rebate = 43580

    Now they are trying to tell me the best they can do is .00155 on the MF. Is .00075 still the buy rate? If so, I will tell them that they can mark it up a little but certainly not almost double.

    Thanks for your help. I appreciate it.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're welcome gavrik. Lexus Financial Services charges a $700 acquisition fee on every vehicle that it leases. That might be part of the difference. There's a $1,500 cash incentive on leases of this vehicle as well.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi zheka212. Lexus Financial Services' June buy rate lease money factor and residual value for a 24-month lease of a 2013 RX 350 AWD with 15,000 miles per year are .00060 to .00075 depending upon what region you are in and 66% for consumers who qualify for its top credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi smallball. Other than the fact that there is likely more dealers, and hence increased competition, in Southern California, there shouldn't be much of a difference between leasing a car in the North and in the South of your state. The lease programs should be the same.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi justinm313. What state are you in? The .00155 money factor that you are being quoted is outrageous. In most of the country, the money factor should be .00075 or better.

    Car_man
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  • zheka212zheka212 Posts: 57
    Thanks Car_man!

    This may explain my confusion.

    I contacted several dealers and lease brokers, and they all suggested a 27 month lease as the sweet spot for the RX350 this month (I am open to a longer lease, up to 39 months).

    I received a few quotes that appear to be at or near invoice, and based on the info from one of your previous posts I was using a MF of 0.00075 and residual of 67% for a 10k/year, 27 month lease.

    I also received several quotes which "don't make sense" - i.e. it appears I would be getting the car about $1,000 under invoice after the $1,500 lease cash (ex. $1,500 total drive off, $484/mo including PA sales tax at 9%; also $1,500 total drive off, $460/mo; both quotes are for a car with an MSRP of $47,300).

    I apologize for asking the question again, but it looks like you provided the residual and MF for a 24 month lease (not 27). Can you confirm what the 27 month MF and residual are for a non-navi AWD model in the northeast (NYC, Philadelphia areas)? Also, do you have access to MF and residuals for other lease durations (i.e. 33, 36, 39 months) and if so, is Lexus providing support for any of those as well?

    Thank you as always!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi zheka212. I did provide you with the 24-month residual values. I haven't seen the 27-month resids, but I suspect that they are likely three points or so lower than the 24-month resids. The residual values don't matter nearly as much as the money factor and selling price in negotiations anyhow because they cannot be altered by dealers.

    The money factors for this vehicle are the same for all terms up to 48-months.

    Car_man
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  • roho1roho1 Posts: 317
    The residual makes a big difference when your shopping other brands to compare. A Subaru at 70% vs a Ford at 45% makes a difference.

    Are you saying the residual can be altered by the dealer?
  • zheka212zheka212 Posts: 57
    Thanks Car_man!

    You have mentioned in your previous post the MFs are either 0.00075 or 0.00060. Which MF will apply in NYC and/or Philadelphia, PA?

    Thanks again!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    I'm not saying that the residual value doesn't have an impact upon a vehicle's lease payment. It absolutely does. My point was that individual dealers cannot alter banks' published residual values for leases. On leased vehicles, the two main profit centers for dealers are the vehicle's selling price and often the marking up of banks' money factors. Dealers don't make any money off of residual values. Dealers have to use the correct residual value to calculate vehicles' payments. They aren't negotiable so they aren't as important to know in negotiations.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    You're welcome zheka212. The money factor in your area is currently .00075 for Tier 1+ customers.

    Car_man
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  • gavrikgavrik Posts: 31
    Hi car_man,

    I visited a Chicago Lexus dealership today and they showed me their invoice. In it, they have $710 advertisement fee tacked on to the total and was told this was not negotiable. Also, I talked to them about leasing and was told there is another $700 in acquision fees coming from Toyota/Lexus Financial and that wasn't negotiable, either.

    Is that normal or is this just fluff added by the dealership?

    By the way, they did confirm 59% residual and 0.00075 money factor available on '13 models with 3yr/10k miles per year lease term.
  • ken117ken117 Posts: 192
    I must disagree with the statement residual values are not as important to know in negotations as the other factors, capitalized cost, MF, etc. IMO it is equally important to know all factors, inlcuding the residual value of the vehicle being leased, when leasing a vehicle.

    With a lease, it is normal for the ulitmate objective to be the lease payment. Most people lease, at least in part, because of the lower payment when compared to a purchase. Without the residual value it is not possible to compute the correct lease payment. Astute leasees should not rely on a dealer F&I person's lease payment computation without verifying the payment. Reality is not all F&I people are above cooking the books a bit.
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