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2013 and earlier Lexus RX 350 Prices Paid and Buying Experience

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Comments

  • psu77psu77 Posts: 11
    Can you please share some of your wisdom on how you got that car for $1,300 under invoice.
  • seems pretty good,

    1) does this include license and registration
    2) as you are in alabama how high is the demand for this car in your area, if it low i would offer 39k otd
  • 1) two words: supply and demand. supply is higher than demand.
    2) what features do you want on your vehicle email me and I will tell you what to pay.

    email me at peregrinator@cox.net
  • kmellokmello Posts: 2
    FYI - I took this email string into the Lexus Newport Beach dealer and we made the deal - 2008 RX350 for $38,873.00. The one we bought had the graphite rims along with same nav/preium package as described in previous email. We had no trade in and we only financed $15K through Costco's auto loan program (we got 5.90% for 48month term).

    My wife and I are very happy with this deal!

    Thanks to WEB2.0
  • env_engrenv_engr Posts: 12
    It appears to be a very good deal.
    Does the price $38,873 include taxes and license? is that an AWD or FWD?
  • kmellokmello Posts: 2
    I can tell you they were happy to get us out the door - nice but certainly not real patient with answering questions about the car. -- but that was cool with us. It is FWD without taxes.
  • Thats funny. When I was in NJ, I had emailed Billy Lamb and he hounded me like crazy. We ended up moving and weren't able to buy from them... but I'm glad to hear that pricing was fair and your experience was good. Nice colors too!
  • maxicarmaxicar Posts: 1
    Hi
    May I ask:

    with or without options (prem plus pkg, etc)
    with sales tax, destination?

    I heard good reviews about this dealership and Mr. Lamb.
    I live in Long Island wondering if its worth the trip.

    Could I say I was referred by you?
    Do you mind providing your name?

    Thank you
    Maxine
  • I just bought my RX 350 AWD with Premium Plus and Nav from Lamb @ Prestige - he's very straightforward, thorough and reliable. Sold at invoice before tax, plus $149 for docs, and $100 for CT registration. I drove over to NJ because Prestige had a good reputation AND their prices were better than CT or NY dealers. Very easy deal, would do it again.
  • dmashokdmashok Posts: 1
    I bought a new (demo) 2007 RX 350 FWD from the above dealer today for $39950 out of the door. It has the navigation and premium plus package (no Mark Levinson) and xenon lights. The demo had 5000 miles on it and showroom condition. The price included 6% MI sales tax and $100 doc. fees (couldn't talk out of it). Overall it was a pleasant experience - I had a haggle a bit (went back and forth a couple of times). Thanks for this forum.

    I would recommend Lexus of Ann Arbor, MI for anyone buying a Lexus in MI. Ask for Joan Glass sales person, she was very helpful and not your ordinary sales person.

    - Ashok
  • First of all, I'd like to thank everyone on this forum for all the helpful information. Here's my contribution.

    -'08 rx350, AWD, premium pkg w/ nav.
    - 40900 + 100 doc fee, taxes, registration & tags.

    Email me for salesmen's name, he was very pleasant to work with.

    M.
  • newmbfannewmbfan Posts: 59
    I am looking at a 2008 FWD.

    $37122.00

    2700 down

    $20175 residual

    money factor of .00195

    15000 miles 36 month

    3.O Sales tax

    $549 doc fee and transfers. (I know it is nuts but that is standard in Raleigh and non-negotiable with any of the dealers.)

    How can I calculate the lease?

    The dealer wants $553.00 tax included.
  • Please tell me at the e-mail address below your salesman's name and phone number. My e-mail address is lgrandis@mcguirewoods.com
  • delta737hdelta737h Posts: 603
    newmbfan,

    There are two cardinal rules in leasing (1) ALWAYS establish sell price first and (2) Know how to compute the lease payment. That said, let me give you some methodology or a general framework in which to work. I'm a big believer in educating people and have a very strong academic orientation. I subscribe to the belief that if you take a man fishing, he'll eat for a day; but, if you show a man how to fish, he'll eat for a lifetime.

    Check edmunds or kbb for MSRP/Invoice pricing as well as customer/dealer incentives so that you can arrive at a reasonable selling price. In leasing lingo, this is called the agreed upon value. Here are all the piece parts that you'll need in order to compute the payment...

    MSRP

    (V) Agreed Upon Value (Sell Price)

    (S) Security Deposit Requirement (e.g., Payment w/tax rounded to the next $25 or $50)

    (Q) Acquisition Fee/Doc. Fee

    (T) Sales Tax Rate and the method your state uses to compute sales tax

    (K) Capitalized Cost Reductions (Cash/Trade Credit)

    (F) Amounts Financed (capitalized) or rolled into the lease

    (M) Cost of Money (i.e., money factor/interest rate)

    (R) Residual Value = Residual Factor (%) x MSRP but see 3(b) below

    (N) Term (months)

    Next, we'll need the following identity...

    A = V + F - K

    where...

    A = Adjusted Capitalized Cost

    Now, you're well positioned to compute the payment...

    Base Payment (P) = M x (A + R) + (A - R)/N

    Most states compute sales tax on the payment streams...

    Payment w/tax = P x (1 + T)

    Other states, like Ohio, compute sales tax on the total payments. Others, compute payment on the depreciation and, of course, there are those that compute sales tax on the agreed upon value. I used to know what North Carolina did but have forgotten. So, I'll leave that to you to figure out.

    Some important things to know...

    (1) Money Factor/Interest Rates...

    (a) The interest rate can be estimated by multiplying the money factor (0.00XXX) by 2400.

    (b) ALWAYS ask for the base rate or what is sometimes called the buy rate. Both mean the same thing. A fund provider's rates have a tiered structure. For example...

    0.00150 + 0% reserves (buy rate)

    0.00160 + 1% reserves

    0.00170 + 2% reserves

    etc.

    Reserves are similar to points paid for a mortgage loan. For instance, 1% reserves means that the dealer receives compensation from the fund provider in the amount of 1% of the adjusted cap cost (excluding acquisition fee) as a reward for writing the lease at a higher rate. And so, reserves are a potential profit center for dealers. The customer never sees it because the reserves are embedded in the cost of money whether it be in the form of a money factor or an interest rate. If the dealer insists on reserves, I always deduct the dollar equivalent from the sell price.

    (c) Most fund providers use a money factor. However, a few (e.g., Ford Credit, GMAC) use an interest rate.

    (2) Acq Fees/Doc Fees

    (a) Acquisition fees are charged by the fund provider for preparing documents and booking the lease. Doc fees are charged by dealers and are another potental profit center. Be careful, though, some dealers will add a profit margin to the acquisition fee. It's best to call a few dealers and inquire about a given fund provider's acquisition fee. Doc fees should run between $50 and $250. A $549 doc fee seems ridiculous. I would want to know what that fee includes (e.g., title/registration fees?). Otherwise, I would look for another dealer unless they're willing to lower the price.

    (3) Residuals

    (a) Residuals are fixed by the fund provider and can't be changed or manipulated by the dealer. The industry bench mark is the Automotive Lease Guide's (ALG) residual factors. They are the standard by which all others are judged. And so, I would want to know the ALG residual for comparison purposes. Most banks use ALG residuals. However, the finance captives often self insure their residuals and are free to set them as they deem fit.

    (b) Dealer add-ons are often not fully residualized because fund providers know that dealers inflate the costs of adds. And so, they'll limit the cost of adds. For example, a dealer installed moon roof retailing for $1800 might be limited to only $1000. And so, a car with an MSRP of $30,000 before the add would have an adjusted MSRP of $31,000 after the add. It is the adjusted MSRP that the residual calculation is based.

    (4) Capitalized Cost Reductions

    (a) If you can avoid making a down payment, you would be well advised to do so. A car is a depreciating asset. Furthermore, if you total the vehicle, it's not likely that you'll recover all or even a portion of your down payment.

    (5) Security Deposits

    (a) Some fund providers will waive the security deposit in exchange for a slightly higher money factor. This is usually a bad idea. Others (e.g., BMW), will lower the money factor in exchange for multiple security deposits (MSD's). This can be a very good deal. See the BMW Series 3 forums.

    Based on the data that you provided, I'll assume that $37,122 is the sell price and that $34,422 ($37,122 - $2,700) is the adjusted cap. Therefore, I'm assuming that there are no capitalized items. The base payment is calculated as follows...

    P = M x (A + R) + (A - R)/N

    = 0.00195 x (34,422 + 20,175) + (34,422 - 20,175)/36

    = 502.21

    If your sales tax rate is 3.0%, then your payment w/tax is $517.28. Apparently, something is missing if the dealer claims that the payment w/tax amounts to $553.

    At lease origination, you'll pay...

    1st payment + tax

    Security Deposit

    Acquisition Fee

    Doc Fee (does it include title/registration/tags?)

    Tax on down payment

    License, title, fees unless this fee is already included in the doc fee. In consideration of $549, it had better!

    Suggestion...

    Create a one page lease proposal similar to mine found in the Infiniti, Acura TSX, and Mercedes Benz S Class forums. It will save you lots of money, time, and aggravation.

    Hope this helps.

    John
    Medina, Ohio
  • uhicuhic Posts: 2
    Did you buy or lease. Did you get anything special or you just insisted on this price.
  • uhicuhic Posts: 2
    I am in the market for a new car. I just started a job where I will make 160.000 plus bonuses. However, I have a 3500.00 mortgage plus bills. My 1995 mustang is on its last leg. Imagine me in a shirt and tie in Fl. With no A/C. Anyway, I want to buy a new car. Since I have 2 kids, 4 and 1, I was thinking about a small SUV. Now, here is my dilemma.

    1- Do I lease or buy. Lease would make sense, since I may have a greater income in 3-5 yrs and may want a bigger car. I would save more money, buying may be best.

    2- Do I go for the luxury car now or later. I could go for a non luxury car (murano, highlander, explore) and get a premium package. Maybe lease it and then buy the lux in 3 yrs. Or go for it now and get the lux. if payments are not that much different.

    3- I really want the lux. I think I can afford it, but I am very careful not to live above my means. That is how I maintain an 800 credit score. What model should I go with? Lexus, BMW, Acura, MB etc. I heard that lexus gives you more for your buck, so I am looking mostly at them.

    I am in Orlando florida, but I am willing to go anywhere in Florida to pick up a good deal.

    I know it is a lot, but I am very confuse and would love anyone's input

    Thanks,
    Uhic
  • andy1993andy1993 Posts: 25
    aujoe1

    please let where you brought your rx350 in Birmingham, al. At tom Williams lexus. what was the name of the sales person and what was mrsp.

    thanks,

    andy
  • Hi, Could you please kindly tell me which dealership did you get the deal of $42500 OTD and who is the contact person? Is this an 08 or 07 model? Does it have Premium Plus and Navigation package? Thanks!!
  • you and I were discussing tactics about car prices, and we had our differences, however, I believe that you are knowledable in the field of leasing, and I would be interested in knowing your thought process.
  • You make some valid points, I think that you could get luxury, but Lexus seems to increase the price of its vehicles, yes reliability is excellent, but less expensive manufacturer's are making a vehicle that fully loaded will run you several thousand less than a lexus. I presume you are looking at the rx model considering the fact thaty you don't want a bulky suv, yet you want something that will haul two children. Clearly. the Explorer, is the least expensive of all three and would give you the most options later on. However, I think that although quality has improved in American made car's the Explorer is built on a truck chassis which means that road isolation and quetness as well as comfort is going to be minimized. secondly, there are too many cost cutting materials in that car for my liking. Howver, price is a positive. The Nissan Murano has been out for several years, and has sold fairly well, Considering the Infiniti FX a more expensive Murano is going to be redesigned, within the next year or so I wiould expect the same for the Murano. Reliability shhould be well above average, and you could get a pretty good deal on this car. I think the Acura MDX and Acura RDX are just plain ugly, and the RDX is going to be slightly smaller than what you are looking for, this is just my hunch. Unless you want a used X5 I would say it is better to wait on this, a used M-Class can be purchased at a reasonable price, beware of the old body style (more boxy) as there have been major quality problems. I think a year old Infinit FX might be a better way to go than a new Murano, and depreciation will hav hit the car so it would be a good leverage point for you. The only other The two suv's that you have not mentioned are the Hyundai and the Mazda. The Hyundai Santa fe, is a less expensive verion of the RX, if fake wood pieces don't bother you, you might find the similariteis eerily similar This is the only detraction I could find, leather is nice, fit and finish are top notch, and price is an added bounus. The dollar value suggests the Hyundai, and its reliability is now close to that of top manufacturers. The Mazda cx-7 might surprise you with its energetic driving and you could load it up and still have change in your pocket. If you want something slightly larger, the CX-9 is another alternative. I think I have covered most of the bases, I have not addressed purhcasing or leasing, obviously because I need to know more information before I make a reccomendation.

    you can contact me at peregrinator@cox.net if you have any more questions.
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