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

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Comments

  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    No problem msmmim. Yes, the method for calculating sales tax on leased vehicles varies from state to state. I am not personally familiar with how sales tax is calculate on leased vehicles in Maryland, but you might be able to find out by visiting one of the following sites:

    Maryland Taxes

    or

    Maryland Motor Vehicle Administration

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi guys,

    Just wondering if you think this is a fair deal:

    (I live in NY)

    2010 RX 350 AWD ---no additional options

    3700 total down includes taxes, title, fee's etc.
    499 per mo
    42 month lease
    42,000 mile allowance

    Thanks in advance --Matt
  • geojregeojre Posts: 12
    Hi carman my lexus dealer emailed me a buyback program that they are running which is offering me a special buy back offer for my 08 es350 lease.

    My question is, is there a lexus program for current lexus lessees that is underlying this? I live in Pittsburgh PA.

    Also what is the residual/ money factor. a 2010 rx350 AWD. 10k yr/ 36 months, and also 12k year/ 36 months
  • tax_attytax_atty Posts: 22
    edited August 2010
    Can anyone tell me the August 2010 residual and money factors for a 2010 RX350 for 36 months with 10K miles/yr. I'm looking for a pretty loaded car with the Dual DVD rear entertainment system if that matters.
  • tax_attytax_atty Posts: 22
    Well I never did find out the factors for August, but I think I got a good deal. MSRP of the car was $51,325. I am paying only taxes, bank fee and DMV fees up front for a 36 month lease with 10K miles/year and with a monthly payment of $584. I think I got a pretty good deal. What do you think? :)
  • msmmimmsmmim Posts: 3
    I live in Maryland and looking to lease a Lexus RX350.
    Want to put down title, tax and 1st month. Tax in MD is 6% of purchase price.
    Buddy in NY just leased a car and is only paying tax on the length of the lease. Does each state have different rules as far as how much tax you must pay on a leased car?
  • rhpdevrhpdev Posts: 11
    What are the current money factor rates and residuals for 4 year 12K miles per year on RX350 AWD and RX450h AWD in the central US (NE, MN, IA). Does anyone know of any special deals going on in either of these models.

    Any help is appreciated :)
  • srdvsrdv Posts: 5
    Car_man,

    What is the MF and residual for RX 350 FWD and AWD, for 2-years, 10k miles?

    Thanks in advance.
  • reap32reap32 Posts: 1
    I have been getting numbers on a 2010 RX350 premium/comfort/navigation from multiple dealers in the ny/nj area.Basically the best deals I have been getting are
    $1,600 out of pocket(bank fee, dmv fees, and first months payment) and around the $575 mark give or take a few dollars. How do these numbers sound? Thanks.
  • andallthatjazzandallthatjazz Posts: 9
    edited August 2010
    We purchased a 2010 450h with a list of $54k (not including the extra chrome wheels they added on with a $2700 asking price, which were ultimately included). The lease was for 36 mos, 12k mileage, paid $1400 out of pocket, and monthly payments of $599 plus tax, this also included the $5k warranty for damage (gave in at the last minute!).

    Hope this helps!
  • I am in the process of getting lease quotes, and all have both a Doc Fee ($589) and Acquisition Fee ($700). Aren't they one in the same? Should I be charged both? I am in Florida in case that matters.

    All the deals I have seen listed in here are for much lower than what I am being quoted. So far they're coming in at around $625 (inc tax) for models with no nav & $1600 out of pocket.
  • In Calif, the doc fee is $59. Do they have 10 times the paperwork in Florida? :)

    I believe the acquisition fee is standard at $700. It would be more helpful to know your MSRP, what they are offering it at, and the monthly fee without tax. My instinct is that you may be able to do a little better, but that it's not a bad deal. I am assuming that this is a 36 month lease at 12k/year miles. If it is for a longer time or the mileage is lower, you can do much better. Others' thoughts?
  • rocktmn21rocktmn21 Posts: 2
    edited August 2010
    I lived in CA a long time, so I think it is just people are 10x slower in FL! The doc fee is essentially a profit to the dealer, but really so is the acquisition when say Lexus is the financing company as well (at least I think).

    The deal I mentioned was for 36mo/12k miles. I expanded my search a bit and here is the latest:

    2010 RX350, premium, comfort, nav; along with 19" wheels, parking assist, tow prep, cross bars, accy package, wood & leather trim wheel & shift

    MSRP- $47,644
    Sale Price- $42,533 (they are also paying $457 for last month of BMW lease)
    Acquisition- $700
    Total cap cost- $43,289
    MF- .00187
    Resid- 58%

    $1600 due at signing ($600 doc, DMV, 1st month)

    $604/mo for 36 months/12k miles

    This certainly is much better. Any thoughts? I could really do w/o the extra $2200 in options over and above the 3 packages, but it seems to be hard to find a vehicle w/o at least some of these add-ons. W/o it would probably drop the payment quite a bit.
  • ivadaivada Posts: 5
    Hi,

    This is the final offer from my dealer. What do you feel about this deal?

    2010 Rx350 AWD with Premium, Comfort, Nav, Tow Prep, Wood Steering. MSRP 47400.

    Lease terms: 3k out the door, 535/month, 36/10k miles.
  • westcoast6westcoast6 Posts: 2
    edited August 2010
    In the market for a RX 450h 2010 lease - 36 months.
    Location: Los Angeles, CA.

    Westside dealer on a $51,900k MSRP RX 450h (basic package), is quoting $49,400 price, money factor 0.002 (4.8%) and 3 yr residual of $30,100. He then said all that comes out to a $695/month payment IF I put down $5000 and this is a 10,000 mile/yr lease. The 3yr residual comes to 58%..seems low from what I have seen posted here but maybe they've dropped with economy weakening and with new 2011 Lexus model coming. Dealer did mention though the RX 450h 2011 now probably will not come out until end of the year...or was that yet another "stretch"? Anyways, any views or facts on those numbers? The $695/month seems high...can't seem to get to it when I plug it into an Excel spreadsheet. Appreciate any advice/info.

    Thanks very much - Novice lease buyer.
  • My research suggests this would be a pretty good deal. I'm guessing it should be only $13/month more to go from 10k to 12k per month. However, I'm thinking you should be able to go a little lower on this deal with less down possibly, say $2k out of pocket. However, this seems close. Depends on availability, of course, too.
  • We just leased our 450h, also in LA. List was $54k, 4 yr/12K miles per year. We put $1400 down, included chrome wheels and the $700 "damage package." The monthly was $599 not inc tax. (Apologies from a previous post -- inadvertently said it was a 3 yr lease).

    With that in mind. Your deal strikes me as "average," maybe a little worse. I'd be looking to put $2k down with monthly payments of no more than $645. I think your dealer has a lot of room left to negotiate.

    Don't disregard the power of making them come up with lower numbers, without you countering. Also, don't be afraid to go elsewhere or to leave if you don't like what you hear. After all, it's the end of the model year and I'd be very surprised if the 2011 aren't here by October.
  • I have done the #'s every way over again, trying to figure out if the deal I got on my lease is a good one, bad, or just ok...what do you all think?

    I just leased a 2010 Lexus Rx350 AWD with Navi. The MSRP was approx 48,000.

    I put 1278.46 down which included my first months payment. My mothly payment, tax and all, is 590.71.

    48 months with 15,000/miles per year.

    Any input would be greatly appreciated. Thanks! :)
  • Thanks for that info. If my reversed-engineered Excel spreadsheet is correct then you must have gotten them to lower the MSRP from $54,000 to around $46,625 which looks to be a good discount ($5275 off MSRP).

    Then to get to your $599/month, before tax, I assumed a 0.002 (4.8%) factor, 25,400 residual, 45 Doc Fees, 600 Acq Fee, 352 Title/Reg/Lic Fee, 9 Tire Fee and included your 1400 downpayment. Your Adjusted Cap Cost on your contract should be around 47,181 and your all-in payment going forward is 648/month incl tax (9.25%). Curious if I got close or if I have some errors/bad data? I guess the other figure the dealer can potentially tweak is the residual. If I may ask what residual did they give you?

    Thanks again.
  • ram7088ram7088 Posts: 4
    Hello i am in process of signing a lease in VA. Here are my numbers. please suggest if this is a good reasonable deal.

    MSRP 47K

    Down- $3000
    Monthly- $540
    Miles- 12K per Yr
    Duration- 3 Yrs.
    Residual- $28000
    First 2 Services Free

    Please help me if i can go for it.

    Is there anything else i should be asking for
  • Amazing! You came extremely close. Acq was $700, you hit the money factor (I think it was .00021) Doc Fees I think -- $55. I don't have the paper work, but I believe the residual was based on 49%, but that's just from memory. I don't plan to buy this one, so for me, wasn't an issue (higher is better of course in that case).
  • andallthatjazzandallthatjazz Posts: 9
    edited August 2010
    My research suggests that you have a very good/excellent deal. I don't think you could squeeze more than several hundred off the "down" or bring down your payment by more than $10-15 per month. For me, it's about getting "in the ballpark" of a good deal. At a certain point, you'll spend more time running around and haggling than it's worth. You might try this -- "I want to buy it, but I'd like you to take $700 more off the "down." They'll claim how you're squeezing them dry (in that nice shiny showroom you're sitting in) then make you wait 20 minutes. Finally, they'll come back with some counter offer, perhaps "splitting it to be fair." I'd take it and be done. If they don't come down at all, at that point, I'd tell them you're going to "leave and think about it." It really makes them nervous when you want to leave, for most dealers. That may be when they come down a little more. But, "you're so close....." Just some thoughts.
  • ram7088ram7088 Posts: 4
    Thanks for the quick response...

    i will see what i can do... i want to make a following offer again and see

    Down: 3000
    Monthly- $535
    Miles-15K

    What do you say...
  • Why would anyone want to lease a Lexus??? It is nothing but a ripoff. Just buy the
    darn car.
  • After months and months and months of shopping for a new SUV, I finally bought the RX450h. I looked at every SUV on the market. And I do mean every single one. Some we drove three, four and five times over. To the point where I had to go to different dealerships for the same car because I was embarrassed with how many test drives I took. That doesn't include the countless magazine articles, blogs, owners I spoke with, etc. I could spend pages talking about all the ones I considered (and I have the stacks of papers to prove it!), but in a nutshell here's the reasons I went with the RX and didn't go with the competition:

    1. 450h = Lexus reliability (we hate spending time at the shop, causing one or both of us to miss work and such a hassle to rearrange schedules), really liked the new exterior design, interior layout was very nice, rich leather, ample space, velvety ride, ultra quiet, expecially the hybrid version along with 30 mpg gas mileage, remote touch navigation is better than the others I tried, and just an overall upscale feel inside and out. It would have been nice to have a 3rd row option to use in a pinch and ports shouldn't be so hard to get to in the arm rest, but otherwise this car fit the bill in every way. IMO, it's perfect for a family who needs an all-purpose luxury car to commute to work, run daily errands, take the kids to school, take the family on a 1,000-mile road trip for the weekend, and then show up to a black-tie dinner.

    2. Acura MDX/RDX - great reliability. However, while the handling was a touch better than the RX, the ride is not nearly as refined, there's more noticeable road noise, and the transmission is not as smooth. I didn't like the "bagel slicer" front grill and the controls were a bit too busy looking. This was tied as our 3rd place car.

    3. Audi Q series - really nice handling, but that's about where it ended. Reliability was a major issue for us, and although Audi's record in that department has improved somewhat over the past few years, it's not reached Lexus reliability. Interior was not quite to the level of the Lexus. This was tied for our 2nd place car.

    4. BMW X series = on par with Audi in terms of handling, but road noise was pretty loud and interior was not even close to the other brands. Ride was on the harsh side. 3rd row option was nice though. Reliability is better than Audi and MB, but still not a Lexus or Acura. We liked the exterior design, but overall, it was never really in the running.

    5. Cadillac Escalade/SRX - we test drove the Escalade once, and once was enough to know it wasn't what we wanted. Way too big, bulky, and pretty gaudy all around. The SRX was better, but we weren't at all impressed with the quality of the interior, the fit and finish, or the ride comfort. The exterior was a bit edgy as compared to the others, and we liked it.

    6. Infiniti Fx/Qx - As with the escalade, the Qx was just too bulky for us, but it drove a lot smaller than the Caddy. As for the Fx, the design didn't really do anything for us, although we liked the interior and the ride quality. This was tied for our 3rd place with the Acura.

    7. Land Rover - different, but that was about it. Reliability? 'nuff said.

    8. Mercedes GL and GLK -- We really liked both of these. Alot. The GL's exterior is really striking, has an aggressive stance, although the interior could be nicer. Navigation needs to be improved big time. The M B Tex a.k.a. pleather, also was a turn off at this price point. But, unlike the other larger SUVs, this one drove really small for its size. This was our 2nd place car, and we probably would have bought it but for reliability history for the GL (not good, to say the least), and the poor gas mileage. If both of these improve in the next five years, we're getting this car. As for the GLK, if we went with MB, we would have gotten the GL over the GLK.

    9. Porsche Cayenne -- test drove it once, was not impressed with the ride quality, then came back again in a month and confirmed it was not for us. Bouncy ride (better not put any hot coffee in those cup holders), jerky accelleration, just overall not a comfortable ride. I couldn't imaging taking it on a road trip of any significant duration.

    10. Volvo XC series - a few years ago these would be high on my list. Since then, every other car on my list has equaled Volvo in the one category that Volvo used to be the leader in - safety. Who feels unsafe in any of the cars above? Once you get past the safety advantage, there wasn't much the XCs offered that wasn't surpassed by the other cars. Plus, the reliability has dropped off over the last few years.

    11. Other cars never in the running -- Hummer, Lincoln, Hyundai.
  • Carfan, thanks for the very detailed and informative comparison that you have done in deciding which vehicle to purchase. I couldn't agree with you more on your observations. The 2010 RX350 is my second Lexus RX model. I drove an '07 RX350 for four years and absolutely loved that car inside and out!. I was actually a little concerned that I wouldn't like the 2010 model as much as the '07. But after driving the 2010 for the past month, I can say it has met my every expectation, except for the gas mileage. It's not getting as good of gas mileage as the '07 was getting.

    I'm loving the hands-free bluetooth on the car, the passive entry(I don't need to fish in my purse for my keys). That is so convenient! Even the shift gate is super smooth when shifting from park to reverse and drive. It's actually an even more quiet car than the '07 when in drive mode. I also think the 2010 is a littler easier to see out of from the side rear window parts. Being a repeat Lexus customer, I was able to lease this car for the same payment as my '07 model with less money down, and the price on this car was about $5,000 more than the '07. So, except for the lower than expected gas mileage, I'm loving everything on the 2010!
  • Carolyn your comments on leasing a lexus truly highlight the ignorance that the auto industry thrives on. If you were at all educated on a lease you would know that a lessee pays only a cars depreciation over a 3 year period plus interest. If you financed the same car for three years the car would have paid for the same depreciation and likely the same if not more interest. Unless you are the lexus buyer that drives the same car for 7 or more years then it is a rip-off to finance. The true fool is the buyer that finances a car for 60 months and then trades it in after 36... But the auto industry wouldn't be the same without you ( i mean them) ;) . So the next time you want to criticize an entire forum, please first consider your own ignorance and do your homework.
  • Hello Geojre,
    Wow, didn't mean to touch a nerve. You are absolutely correct concerning my ignorance of leases and financing a car. It just seems to me that it makes alot
    more sense to just pay cash and not have to deal with all the finance charges. I
    have been fortunate and have not had to finance a car. Perhaps I spoke too soon
    and did not consider that not all have the cash to buy outright. I meant no offense.
  • It's true, not everyone can afford to buy a brand new car with cash, particularly a vehicle that can cost anywhere from 38,000 to 45,000 brand new. Everyone has different takes on leasing versus buying. There are those that might say that paying cash for a vehicle may not be a sound financial decision either. But everyone is in a different place financially, so to each his own.
This discussion has been closed.