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

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Comments

  • Hi jack1963. The truck that you described has a spread of around $5,000 between its MSRP and dealer invoice price. You were quoted a discount of around $2,200 on it. I have seen other community members get better prices than this. Try stopping by the following discussion to see how much others have paid for similar trucks: "Lexus RX 330 / RX 350: Prices Paid & Buying Experience". When you arrive at an attractive selling price, make sure to have the dealer that you are working with calculate your vehicle's monthly payment using its buy rate lease money factor. Lexus Financial Services' current special buy rate for a 36 month lease of a 2007 RX 350 is .00163 for consumers who qualify for its Tier 1+ credit tier.

    Car_man
    Host
    Prices Paid Forum
  • Hi Danny. Lexus Financial Services charges an acquisition fee of $600 on every vehicle that it leases. Individual dealers do not have the authority to waive this fee. You can either pay it at lease signing or have it rolled into your truck's capitalized cost.

    Car_man
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    Prices Paid Forum
  • sender1sender1 Posts: 29
    Hi, I negotiated a price on a 2007 RX350 with NAV etc for $40250. MSRP is $45705. I then had the salesman figure out the lease cost based on 36 months, 12,000 miles, no $ down (aside from taxes, 1st month, motor vehicle fees etc). He based this on a factor of .00163 and 57% residual. The number he came up with was $551.18 a month. I tried myself with the numbers a few times and I got $503. Any help would be appreciated as I am ready to make this deal. Thanks so much
  • Armed with advice from this useful forum, I made a deal in the Los Angeles area for a RX 350, FWD, Prem. Plus, and Nav.
    Car price was $37,785, and the lease was 36 months/12k, 58% resid., and money factor
    of .00163 (I qualify). All was agreed to very clearly, in writing, via email. When I went
    to buy the car this morning they refused to honor the lease deal--56% and .00197.
    They said I had to prove that I could get that deal from another dealer, which was
    never a condition of the deal. So I walked, and they let me go.

    Any advice on how to proceed? What are the ethics in a situation like this.
  • wactedout, have you checked with some other
    Lexus dealers nearby? I'm not too sure if this is a good deal, but then again I don't know what options you have on the car. At least try to get a comparison quote of some kind from another dealer just for a little more peace of mind. Good luck!!!
  • I just received a e mail alert from my sales person at Newport Lexus stating that Lexus has just come out with a special lease program on the RX350. I haven't called him yet. Anyone know about this new lease program ?
  • brgbrg Posts: 3
    From: "Guhl"
    To:
    Subject: Lease, NJ, 2007 Lexus 350 AWD
    Date: Tuesday, November 07, 2006 10:15 AM

    My Highlander lease is up end of December........have decided on the Lexus 350 to lease from Livingston, NJ Lexus dealer. Offering: $2500 down/$449.00 per month........I plan to ask for bump up to 15,000 per year.......no navigation but premium package/Level 2?........may get heated front seats.
    Q: Is this about the best range for December leasing deals?
    Q: Will be away close to 25th. of December so......planning on turning Highlander in early and getting Lexus so that I am not without a car after 1st. Jan. Is there a good way to handle this switch over?
    Thanks for any advice.
    Cheers,
    BRG :confuse: :)
  • Looking to lease, but know Lexus always runs a holiday program...Anyone Know details? Will savings be significant bases on previous years programs? Does it usually start around Thanksgiving? Thanks
  • See message # 254. I don't know what the lease rate is though. The salesperson hasn't gotten back to me yet.
  • Hi sender1. The money factor that you were quoted is right in line with Lexus Financial Services' current buy rate for it. This is a good thing because it means that the dealer you are working with is not trying to mark your vehicle's money factor up to add additional hidden profit to your deal. Using an MSRP of $45,705, a selling price of $40,250, a money factor of .00163, and a residual value of 57%, I estimate that this truck's zero down, pre-tax monthly payment should be around $503, just like you came up with. It's tough to say why the payment that the dealer quoted you is higher. One possibility is that it includes sales tax. The dealer may have also rolled Lexus Financial Services' $600 acquisition fee into your truck's cap cost instead of charging you it at lease signing.

    Car_man
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    Prices Paid Forum
  • Hi en2life. It is very important to understand how leasing works before finalizing your deal. You should be able to get a good idea of how leasing works by checking out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    I would be happy to give you my opinion of this deal if you provide me with a detailed description of the truck that you are interested in.

    Car_man
    Host
    Prices Paid Forum


    P.S. I had to delete your post because it contained your e-mail address. If you want community members to e-mail you, make your address public in your profile and tell them to check there. Thanks.
  • Hey en2life. Lexus' current lease program for the 2007 RX 350 isn't bad, but traditionally Lexus provides its best deals of the year during its "December to Remember" sales event. I expect Lexus to roll out this year-end promotion on November 22nd. If I personally was in the market for this truck I might be inclined to wait until then to get one.

    Car_man
    Host
    Prices Paid Forum
  • Hi darballman1. I haven't heard about any enhancements to the Lexus RX 350, but it's possible that Lexus made one recently. If I was in the market for this truck, I personally would probably wait until Lexus introduced its "December to Remember" sales event and the end of this month.

    Car_man
    Host
    Prices Paid Forum
  • Hi brg. This truck's lease program will depend upon its MSRP and the selling price that you are able to negotiate. I would be happy to give you my opinion of the deal that you were quoted if you let me know what these numbers are.

    As long as you have made your final payment on your Highlander lease, there's nothing wrong with turning it in slightly early.

    Car_man
    Host
    Prices Paid Forum
  • Hi jakpenn. It is difficult to say exactly what Lexus' "December to Remember" lease program for this truck will be like. If I had to make an educated guess, I would say that it is likely to be more attractive than Lexus current program for the RX, but there is no guarantee that will be the case. I believe that this program will start around November 22nd.

    Car_man
    Host
    Prices Paid Forum
  • moolmanmoolman Posts: 122
    I've had 2 separate dealers tell me the december to remember sale started early, is this true or BS.
  • moolmanmoolman Posts: 122
    Hi,
    I'm being told the Teir 1+ money factor is 0.00133 but I'm being told a weird residual. 54% for 15K, not 56%. Maybe they are trying to make some extra cash off me.

    Also, is it true that if I want 18K a year, that there is no residual for that. I'm being told I must either prepay the extra 3K at 15cents or pay if I go over 20 cents a mile when I turn in the car.

    Well, supposedly this is the december to remember special. It seems to be lower than anybody else posted so far, so it seems to be legit.

    I'm in Southern California and I'm getting crazy prices way below invoice without haggling. Is there some special incentives going on right now for the car?

    Thanks
  • I appreciate all the info I gathered from this site. Time to contribute back.

    I leased a 07 RX350 FWD with Navigation today.

    36 month lease with 12k per year.

    $431.43 per month with 9 MSDs and no cap reduction...

    MSRP: $44,160
    Sales price: $37,500
    Acquisition fee: $600
    Registration, license: $308
    Document prep: $48.71
    Other fees: $36.75

    Lease info:
    Gross Capitalized Cost $38,100 (sales price + acquisition)
    Current Money Factor for 36months 12K: .00133
    Discount for putting down 9 refundable security deposits: .0009
    Final Money Factor: .00043
    Residual = 56%
    Total monthly payment with 8.25% tax = $431.43

    Multiple Security Deposit Info:
    1 MSD = $450 (monthly pmt round up to next $25)
    9 MSD = $4,050
    Total Due at signing:
    MSD = $4,050
    first month pmt = $431.43
    Fees = $393
    Total Due at signing = $4,878 (I'll get $4,050 back.)

    Hope this can help others.
  • Here is the lease quote I received yesterday (Sunday) from Longo Lexus in Southern California:

    2007 AWD RX 350

    MSRP: $ 43.055

    Capitalized Cost: $ 37,200.

    Drive Off: $ 850.

    36 months/12K miles

    $ 451. + tax =

    Total Payment: $ 486. 55

    Note bad of a deal. Seems to be a glut of RX 350 here in Southern Ca. Went on Crown Lexus's lot on Sunday (John Elway's dealership), and they must have had over 75 RXs.
  • Here is a deal quoted on rx 350 12k 36 mo lease in Dallas:
    Msrp $40,680
    Cap Cost: $37,465
    Money factor:.00215 marked up from .00133 even though beacon score is 780
    Residual 56%

    Why are they not offering me top tier financing...they seem to be making plenty on the car
  • After hassles with other dealers in Los Angeles, Finally
    got a RX350 from lexus of oxnard without any trouble. MSRP:41500, Cap cost:35660+600(acquisation). Put down
    $3825 for refundable desposit to lower the money factor
    to 0.00037(0.9% APR). Residual is 56% for 3 years/12K. The drive off cost is
    $400(DMV)+$406(first payment)+$3825(Multiple Security Deposit). Monthly payment is $375+$30(tax). If you live
    in southern CA, you can call their internet department.
  • moolmanmoolman Posts: 122
    you got a final money factor of 0.00037 after 9 MSDs. Does that mean you got a money factor of 0.00127, is this correct. I'm getting the lowest as 0.00133, so just checking to see if it got lower.
  • No, original is 0.00133. After MSD, it goes to 0.00037. That
    dealer seems to be eager to sell their cars.
  • moolmanmoolman Posts: 122
    you must of got an extra 0.00005 from them because doing the math. Each MSD is a 0.0001 off, so you should end up with 0.00043. How did you manage that, did specifically say there were going to give you a discount. I might try to get a better rate but I have a feeling they will tell me that it's the lowest that lexus financial will go. Unless you can verify otherwise. Thanks
  • I am pretty sure they told me 0.00037. But even with that number, online
    calculator shows $415(including 8.25% tax) monthly payment. Since they offered
    me $407, I didn't bother to ask why. Before doing MSD, they
    said I have to pay $477 and they were using 0.00133 at that time.
  • moolmanmoolman Posts: 122
    Hi,
    Does anybody know if the mileage penalty is negotiable or not. So far I'm being told that if I prepay the penalty it's 15 cents a mile, 20 cents a mile if I pay afterwards. Is this a lexus financial figure or is it negotiable.

    Thanks
  • Hey guys i am new to the board and have been looking for either a gs350 or rx400h. While the prices might be close for both cars with nav and other options, the lease prices are worlds apart. I was recently quoted by lexus dealer that he could give me the 400h with flint mica and nav for 534 a month.

    His offer:

    MSRP: 49,887
    Sell Price: 45,051

    36month/15k a year : 2500 down + (tax + inception fees) : $533.94 a month.

    Lexus leasing is kind of confusing to me because the gs350 lease i was quoted was always around 700-800 with nav and almost identical sales price. So can someone let me know if this is a good deal or should i try to go lower.
  • cpa3cpa3 Posts: 88
    Does anyone know what the deal they are offering is now? I went to MV Lexus and the best I could get out of the Sales Rep was they were discounting lease rates.

    I also noticed all the RX 350's had 18 inch wheels which was an additional $665 added to the list price. Can you get them with the standard wheels?

    Is there any other lease fees that are standard items to charge for other than the acquisition fee of $600? I see some have listed documentation fees and mis garbage fees.
  • Hi Sir,

    Did you put any Security Deposit on this deal? or It's just $850 drive off and that is it?
    I am trying to get the car tomorrow. Please advise. Thanks.
  • cpa3cpa3 Posts: 88
    Why does the interest portion of the lease payment calculation include interest on the residual value and the capitalized costs. It seems to me that the calculation is doubling up on the interest on the negotiated purchase price and then on the residual value. Is that because the money factor really doesn't correspond to a realistic interest rate?
This discussion has been closed.