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2013 and earlier Lexus RX 350 / RX 450h Lease Questions
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Comments
rx350 with premium plus-no navi
$2500 down
450+tax/mo-approx $475/mo
12k miles for 48 Mo
also includes buy-out of my honda pilot's last 3 payments ($378/ mo). I'm not happy with the 48 mo.aspect of the offer. did the mf, and residual change that much??? i am new to leasing, so i need some help.
Lexus completely pulled the plug on its lease support for the 2009 RX 350 in January. When it eliminated the special money factors on this model, Lexus doubled its dealer cash from $2,500 to $5,000. This dealer cash can be used in conjunction with Lexus Financial Services' standard lease program. Surprisingly, while leases on this truck are worse this month than they were during the "December to Remember" event, the difference is not quite as large as I initially thought it would be.
In case you're interested, Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2009 RX 350 AWD without the entertainment system with 12,000 miles per year are .00285 and 49% for consumers who qualify for its "Tier 1+" credit tier. The numbers for an otherwise identical 48 month lease are .00285 and 40%.
Car_man
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It is listed for $25,888 with 45897 Miles, fully loaded.
Any suggestion on negotiating the price is welcome.
edited to add - i'm in southern california
Why do you buy 2005 pre-own at $25K? You can buy 09 RX350 FWD without Navi at around $31500 (MSRP $40551) right now (deal expires 2/2/09). Or $10K to $11K off the MSRP of any 09 RX350 with Navi. I think you better of with a new 09 RX350. I've bought in Dec with $7.7K off the MSRP in SoCal also. Good luck
In my previous message, I meant BRAND NEW 09 RX350 FWD.
2009 RX350 with entertainment system
12,000 miles per year
36 month lease
I am shopping for one with premium package and rear entertainment.
The MSRP with destination is coming out at $42,910.
Thanks,
ram
Try the LA zipcode 90045. should be the cheapest in California. may be you can price match.
The pebble beach edition RX 350 AWD, Nav, Laser Cruise, Rear ent, Heated front and rear seats, peium leather seats and much more around 39 k.
check it out may be you could negotiate a lease based on these prices
and
good luck
I just leased an 09 RX-350 with the Levinson stereo/premium plus package (MSRP $46,000). It is for 48 months at 12k/yr (I picked 48 instead of 36 because I didn't care about having to keep the car a 4th year, and the warranty is 4 yrs/50k anyway). My payment is $610/month, no money down (other than registration fee). The dealer made the first payment for me, bringing the effective monthly payment to $598. The selling price was $36,500, plus $700 acquisition fee and the dealer's bogus $600 "doc prep" fee. MF was current .00285
Did I overpay, or was it just a bad time to lease b/c of the poor money factor?
Did the money factory / residual get any better for February (36 months / 12k miles)? I am looking to lease a 2009 RX 350 with nav or a 2008 RX 400h and am trying to figure out the deals at this point. I would be a double returning leasee. My current RX lease is up at the end of April, but I want to still get a 2009 model while they are still around so I am looking at flipping the lease a little early.
Thanks.
This least program isn't very good, however Lexus is providing a whopping $5,000 dealer cash on this truck right now which is compatible with it. You should be able to negotiate a very attractive capitalized cost for your lease after taking this cash into account.
Car_man
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Car_man
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This lease program is not very good, because Lexus seems to have pulled the plug on its lease support for the '09 RX now that the 2010 model has already started to arrive at dealers (2010 models are already out, what is that all about? Time flies). Lexus is providing a $5,000 dealer cash incentive on the '09 RX 350 in lieu of lease support.
Lexus is not currently providing lease support on the 2008 RX 400h either. If you were to lease an ;08 RX 400h AWD without the entertainment system through Lexus Financial Services' right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value would be .00285 and 48%, respectively. Lexus is providing $6,000 dealer cash on this model right now.
Car_man
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RX 350 prem pkg $32,250, MSRP $40,600 (may not be exact)
RX 350 prem pkg w/ nav $35,794, OTD $37,358.82., MSRP around $44K
Waiting for them to get back to me with lease pmts and MF. They said there is a special MF rate for this sale but they won't have time today as all the finance mgrs are busy and will get back to me on Monday morning. (seems suspicious) It's 5p.m. now, and they are not open on Sundays. I'll let you know what those payments are then.
I am hoping they get back to me as promised, I just think it's odd that they would not want to get back to me that same day to try and make a sale. They only had 1 left with nav and being that I am suspicious of car dealers, I fully expect them to call me back saying it is gone since that is the car I wanted. I hope I'm wrong though.
I too am curious what deal is announced tomorrow as I have been waiting on the sidelines to see if anything better is coming along to move the 09's. I really want to do a lease but they haven't been doing anything to incentivize leasees for the past month or so. Purchases have been great but our 07 only has 20k miles on it and I don't see the need to spend another $10+k over our buyout just to get the same car since the 2010's are out now.
Unfortuanately I'm getting the tug toward the 10 though. Looks pretty nice!
Looking forward to the news tomorrow - please post as soon as you get the numbers!
Thanks!
Jay
Lease payments based on this price is $629.51, 48 months, 12k/yr. Lease factor a whopping .00385. Financing would be 6.49% for 60 months for tier 1 credit.
Ok, so yes, the price of the vehicle is outstanding, 09 prem pkg w/ nav. But the financing really is horrible, no special financing for leasing or buying through Lexus. I
thanks
richard
Two questions:
1) Can I extend my current lease terms another year?
2) Can I try to buy the car but renegotiate the residual value? And if so what is a price I should shoot for -- $20k?
Thanks!!!
Although I'm not sure if you could negotiate the buyout price on your current RX with Lexus, it certainly wouldn't hurt to try once you get close to the end of your lease. Who knows? With the way the economy is right now, they may be willing to lower the buyout price for you.
By the way, a friend and I were surfing the Internet together on the Carmax website. She's looking for a used
'08 Acura TSX, and I thought I'd take a look and see what an '07
Lexus RX350 used is selling for. This was in the Tampa, Fl area. They had one that had 35,000 miles on it and it was an '07(about a thousand miles more than mine right now.) and Carmax was asking $26,0000 for it.
If you're a person that takes good care of their car, it would probably be a good move to buy this car at the end of your lease.
When I was building a 2010 RX350 on the Lexus website, I could
already see this car is going to cost several thousand dollars more than my '07 did because of the way they're grouping some of the options such as rainsensing wipers and the power rear door and such.
Anyway, I hope it works out for you whatever you choose to do.
P.S. I remember back in 1998, my mom was leasing a Toyota
Corolla and she was able to extend her lease by six months because she was in the middle of moving to South Florida and didn't have time to deal with deciding whether to buy the car or turn it back in at the time. Check with your Lexus dealer.
I did, however, extend my lease for 6 months. No extra charges and nothing really changes with the lease terms. I got add'l mileage (my annual mileage/12 for each month's extension) and quite a bit of my payment actually goes toward paying down the buyout on the car.
The purpose for me doing this is to see if I can find a 2010 (or something) that entices me beyond my buyout. So far, with no discounts I'm having a hard time selling the 2010 to my wife (and it's her car so . . . )so we may end up just buying this one out.
It's not the cheapest option to be sure but it gives us flexibility to see what happens with the market. We can turn it in anytime before our due date and we won't be charged for the following month. Not a bad program and easy to do with a phone call to LFS.
Good luck and let us know if you have any luck with the buyout negotiation.
Jay
My lease expires in September. I was told I couldn't call LFS until 6 months before so I will call next month and let you all know what they tell me.
I love this car and thought of trading down to the IS 250 but it's nearly as expensive and I love the trunk space that the RX350 has.
Thanks!
Money factor .00185. Only $20 more than none Hybid. Good availibility.3rd largest dealer in U.S.
Can you provide more details about your lease such as the terms and what your paying a month? The lease on my RX330 is up in April and I'm trying to figure out what my options are.
Thanks.
thanks
LFS' current buy rate lease money factor and residual value for a 48 month lease of a 2010 RX 350 AWD without the entertainment system with 12,000 miles per year are .00285 and 57%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.
Car_man
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The money factor is the bad news. The good news is that Lexus is currently providing $5,000 dealer cash on the 2009 RX 350. You should be able to negotiate a selling price that's thousands of dollars below invoice after taking it into account.
Car_man
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Compounding this issue is the fact that the 2009 RX 350 was an early introduction. So it is even further along in its life cycle than most other '090 models are at this point. Manufacturers usually stop providing lease support on leftover vehicles at the end of the model year because by that point their residual values have fallen so much that it becomes very expensive to provide an attractive lease payment.
I have no doubt that Lexus will introduce an attractive lease program on the 2010 RX at some point, but it could be several months before it does so. Until then, you can either take advantage of the $5,000 dealer cash that is available on leftover '09s or overpay to be the first on your block to have a '10.
Car_man
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Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2010 RX 350 AWD without the entertainment system with 15,000 miles per year are .00285 and 57%, respectively for consumers who qualify for its "Tier 1+" credit tier.
Car_man
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When negotiating your lease on this truck, make sure to take advantage of the $5,000 dealer cash that is currently available on it.
Car_man
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I am looking to purchase a Lexus RX400h. I spoke to a dealer and he says that he has a demo model that is available with 1100 miles. He says that I can also apply the $6000 Dealer cash. Do you know how much more I can have the sales price lowered due the 1100 miles.
Thanks for you help!
What do you guys think?