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2013 and earlier Lexus RX 350 / RX 450h Lease Questions
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Comments
1. Dealer?
2. Any down or Cap reduction?
3. Lease payment? (599 total or 599 + tax)?
Thanks,
BC
The dealer was located in upstate New York. I paid the taxes up front and that was the only money out of pocket so the payment of $599 was without taxes.
The MSRP is 47,884, sale price is 43,500, MF .0022 with a residual of 24,420
What is the current money factor lexus finance is offering on this car? I'm outside of Philly, PA
I'm getting quoted payments of 627.67 12k miles for 36mths and 601.09 for 48mths 12k total of 1500 out of pocket cost to drive car off the lot.
Sorry posted this in the wrong thread prior.
Feedback is appreciated, Thanks
MSRP $$45,486
Package(s):
F FT 19" Aluminum Alloy Wheels
F HS Heated and Ventilated Front Seats
F NV Navigation System
F PM Premium Package
F WU Wood & Leather-trimmed Steering Wheel & Shift Knob
P 3T Cross Bars
P C1 Cargo Mat
P GN Cargo Net
P WL Wheel Locks
Discount price quote $39,925 + tax and license fees
$1183 minimum due at lease signing.
36 months, 10k miles/yr
$501 + tax = $550/mo on approved credit. (I'm in So Cal where tax is pretty high!)
This offer is only good till tomorrow (4/30) and I need to find out if this deal is good.
I think it's a pretty good deal from quick research, but any comments will be very helpful.
Thanks!
thanks
Lexus Lease Special Offer
2010 Lexus RX 350 Lease Offer
$489mo. 36mos.
$3499 due at signing.
Excludes official fees, taxes and dealer charges. No security deposit required.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Make sure that the dealer uses the buy rate to calculate your payment.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Lexus Financial Services' current buy rate lease money factor and residual value for a 48 month lease of a 2010 RX 350 AWD with 15,000 miles per year are .00190 and 49%, respectively for consumers who qualify for its top aka Tier 1+ credit tier.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Quote 1. MSRP 47K or so (Navigation, Premium package).
No details other than - "15,000 miles per year with $1975 down (*no idea if total drive off or not) and $610 monthly payment ($670 total with tax). Seems high!!!!
Quote 2. Same car - FWD 350. No details other than - "36@514 plus tax with 4000 down. 15k per year".
Another dealer quoted a great price of $41,350 (below invoice) but I emailed for days, and he is basically refusing to provide a written LEASE price quote, and telling me to come in and do it in person. I don't want to work under pressure. Please advise! I am ready to crawl back to Mercedes dealers. I have never experienced that with them in the past.
Finally, I mentioned to a few dealers that I got $41,350 price elsewhere, and they immediately told me that I have to bring that written price quote to them in order for them to match that, if at all. Should I forward the dealer's price quote to them? Thanks.
Thank you!
Thanks.
Invoice: 42,940
Final sale price: $41,000
Drive off $1942.78
Payment $505.58 plus tax for 15,000 miles per year/36 months
Adj residual $27,483.30
That is a great deal. What city and/or state? I think the actual invoice is $41,800 according to www.kbb.com Still, you are $800 below invoice. I suspect secret Lexus cash back to dealer right now of $1,000 plus low finance rates or leases.
The deal you made is A+. You are paying around $700-$800 in dealer fees but getting the vehicle for below invoice. Thus, the dealer is actually selling you the RX350 at invoice. Your payment is great and appears like you are getting the money factor of .00190. Residual is around 59% which again your numbers show are very close.
Conrads on a great deal in the Bay Area. From your posts it looks like your hard work and effort paid off.
Sale price: $46,900, $1500 down, payment of $809.00 . This was the initial offer presented to me at the dealership after test driving the car.
Now, after doing my research, and sending inquiries via email, I did receive a more detailed offer which appears to be much more reasonable:
Sticker price: $47,385.00
Sale Price thru internet dept $42,980.00
dealer documentary and prep charge $589, plus taxes and fees
36 mo lease, 15k miles per year
lease payments $626.13 incl tax with start up $1605.20 due at signing.
I would greatly appreciate anyone's comments regarding this deal. Can I do better? This dealer is about 50 miles from where I live so servicing would be rather incovenient. I have dealt with the Tampa Lexus in the past but their internet quote was $658 per mo with $3k down -- ridiculous!
Thank you for your comments.
Does any body know the cost of these miles? Car man?
Do you or anyone else know the residual on the 350 RX on a 36 month lease for 12k miles.
Thanks,
Cole
I followed your advice and got the following deal in Orlando on a 2010 FWD with navigation package:
Sticker $47385
Final Sale price of $42,900
Offer: 35 payments of $$661.23 (incl tax)
Nothing due at signing, first payment due 30 days from delivery.
They told me that I can turn in my car (leased from Tampa lexus) to their dealership when I pick up the new vehicle and they will take care of any transfer papers without a fee.
I can turn it in anytime before my lease expires June 10 and their price reflects the "credit for payment" towards the new lease - meaning that there will be 35 payments instead of 36, as I understand it.
Do you think this is a good deal? It appears to be a fair price. If they are going to credit me my lease payment and basically give me the first month free, I am better off keeping my car until June 9 then picking up the new one. From some reason though, they wont just come straight out and say we give you one month free. Am I missing something>?
Thanks again!
I am getting confused by different money factor and residual information i got from 2 different dealers. I am interested in RX 350 AWD without navigation in St Louis. 36 month & 12,000 miles.
Plaza Lexus - Money factor 0.00290 Tier 1+ , Residual value at 60%.
Dave Lexus - Money factor 0.00220 Tier 1+ , Residual value at 58%.
In some post i saw Money factor at 0.00190, are the dealers trying to scam?
Thanks,
king1721
I think you have received an amazing deal. I am looking at the RX with the very same features that you listed. Did you get it over the ML? My wife loved the ML but as you know, the prices are much more. If you can, please email me a few more details on the RX deal you negotiated. omars1974@hotmail.com
Lease rates (money factors) and residual rates are independent of each other. One has nothing to do with the other.
Residuals reflect the estimated wholesale value of the vehicle at the end of the lease. Finance captives (e.g., LFS) will often inflate residuals for competitive reasons. The residual factors are established by the fund provider (or their residual insurance carrier in the case of banks) and so the dealer has no control over these. I see that you were quoted residuals of 60% and 58%. You may want to get some clarification. For example, both appear to be 36 month residuals. However, the 60% may be for 12,000 miles while the 58% may correspond to 15,000 miles.
Residual factors are computed based on a given level of mileage usage. Some fund providers will "adjust" the resulting residual value for different mileage requirements. So, if 60% reflects 36 months and 12,000 miles and, say, you desire 15,000 miles, then the residual value is adjusted downward at some predetermined cost per mile. In other words, you prepay the additional mileage which is reflected in the "adjusted residual value". For example, suppose you desire 15,000 miles and you prepay the additional 9,000 miles (3 year lease) at the rate of $0.10 ($900) and that the 60% residual factor produces a residual value of 20,000, then, the adjusted residual value amounts to 19,100.
Money factors reflect the cost of money. The buy rate (0% reserves) is 0.00190. The money factors you were quoted appear to be packed with reserves which are similar to points paid for a mortgage loan. A 1% reserve level means, roughly, that the dealer is compensated 1% of the adjusted cap cost (less acq. fee if included in the gross cap) for writing the lease at a higher money factor (e.g., 0.00220 or 0.00290). For instance, the 0.00220 money factor may reflect a reserve level of 1% while the 0.00290 money factor may correspond to a 3% reserve level. Lease rates (money factors) are usually tiered (e.g., 0.00XXX + R% reserves). Always ask for the base rate or buy rate which is the money factor associated with 0% reserves.
This may be much more than you really wanted to know but, that's just me being me. Anyway, hope this helps.
John
You are right. I got the same run around from Stevens Creek and Fremont. Stevens Creek is not responsive at all and Fremont wanted me to come in before they give me any info. What is the point of having an internet department? If I wanted to come in and drive the car I would have already done so.
What I ended up doing is turn in my E350 lease and get an ML350. All I did was send out an inquiry and Tim at Beshoff was very responsive and gave me a great deal.
I don't understand all this BS that bay area lexus dealers are doing.
Car_man
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Excess Mileage Charge
Leases generally contain a mileage limitation on mileage and resulting excess depreciation of the vehicle. A set mileage allowance is disclosed in a LFS lease agreement. If this limit is exceeded, the lessee is charged for each mile driven exceeding the allowable mileage, as disclosed in the lease (e.g., $0.15 per mile). However, if at lease inception, you feel you will be driving more than is set forth in the lease, you can add the anticipated excess mileage (at $.10 per mile) to your lease to be paid as part of your monthly payment.
Those example prices are low though. Surfing around the web, it appears as though LFS charges $0.25 per mile for leased vehicles that are returned with excess mileage. Using the same ratio that LFS used in its definition above, a $0.05 reduction for excess miles paid for in advance, you probably would have to pay around $0.20/mile.
Again this is just a guess, but it's a pretty good one if I do say so myself .
Car_man
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Car_man
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Prices Paid: Buying & Leasing Experiences Forum
36 months/10,000mi
61% Residual = $28,757
MSRP $47,153 Nav, Prem, Comfort packg
Invoice: $42,400
Negotiated: $42,900
Drive Off: $1,842
Monthly Payment: $530 + Tax
The dealer couldn't find my color combo anywhere and found one with a slightly higher MSPR because of the additional cross bars but said they would give me the same monthly deal. What do you guys think. It sounds about right. Been trying to match Nola's deal but no one wants to come close. Anyone think that I should wait to see about June incentives?
thanks,
MSRP: $49,044
Dealer: $44,228
Price: $43,121.32
Lease: 48 mos
15,000 miles
MF: 1.9 (.0091)
Residual: 49% ($24,031.56)
$1990 .47 down (includes: 1st payment $573.88, sales tax $69.84, 1st year fees $591.75, other upfront $755 )
Package Includes:
Comfort
19" wheels
Navigation
Premium
Two Prep
Accy Pkg
Cross Bars
I was told that I am paying $1,000 under dealers invoice, but, have a feeling they are making it up in the down payment. I don't have a lot of experience at negotiating, so, want to make sure I am not leaving anything on the table. Can anyone share their expertise with me? Thank you
thank you
2010 RX350 AWD
MSRP $47,625
36 month, 12k/year
$1717 drive off, includes dealer fees(~$800)/dmv fees(~$300)/first month
$578/month (with taxes included)
60% Residual, Money factor of .00190
Options:
-Premium (PM)
-Comfort (CP)
-Navi (NV)
-12spkr (EK)
-Tow Package (TO)
-Preferred (Z1)
-Wood/leather trim (WU)
where is the dealer (which quoted you ) located?
The payment they quoted me is $573.88 (includes taxes)/mth. Other specifics are in my previous email address. I need to go down today or tomorrow in order to take advantage of this offer. Just need to make sure I can't do any better than this, or if I should negotiate a better deal. Thank you
Prestige Lexus in NJ quoted me at $578
Lexus of Queens in NY quoted me at $582
I mentioned the 2nd one because it's closer to me but no one has been able to beat Prestige's initial offer yet
I have tried to bargain using the deal that Nola2 received but I haven't even come close. My best deal is $530+ tax on the same vehicle you describe. Biggest problem in negotiating with me is that everywhere I go, they don't have a silver with black interior. It seems that there are only two of those vehicle available in FL
this is with almost $2,000 down.
if you are being quoted $42,400 plus $500 = $42,900.
they are quoting me $43,121. so, you are right...their MSRP seems a bit high at $49,044. They are showing a dealer base of $34,146 and the following charges:
Comfort - $1560
12 Speaker - $88
19" Wheels - $528
Navigation - $2085
Intuitive Assist - $400
Premium - $2028
Tow Prep - $190
Wood & Leather Trim - $264
Accy Pkg - $141
Cross Bars - $168
Total Acc - $7452
Dest Chg - $875
TDA - $585
Dealer Holdback - $780
Whsl Financial Reserve - $390
Total: Dealer $44228.
Retail: $39025. plus $9144 access and $875 destination = $49044.
I know what you mean about trying to get the color combination you want. I have been trying to get white with gray leather interior. Not too many to be found...like your desired color combination...however, they did, by chance locate one and made me this offer. I am glad to hear you think it is a good offer...but, you are right, i am certain they are not loosing.
I've been getting frustrated trying to locate the color combos that I would like at the two dealerships in the Tampa Bay area.
My current '07 RX has the black interior with the Flint Mica exterior. I would prefer to stick with the black interior, but possibly a lighter exterior. I like the Matador Red with black interior, but it's been very difficult to locate. I'm also liking the Cerulean Blue, but I haven't been able to find one with the black interior. I might be willing to settle for the gray interior; but, again most of the Cerulean Blue RX''s are with the cream interior on the dealer lots. I have also had a hard time locating the color combos on the 2010 Cadillac SRX that I would like.
Of course, this all may be a moot point, because if they can't give me the right price and lease pmts for a Navi, Prem. and Comfort RX, I'm ready to buy my RX at the end of my lease in a few months. I imagine they would make a lot less money off of me if I buy my vehicle rather than lease a brand new one.
$572 deal is hard to beat... Some dealers offered to match it only....