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

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  • gx470818gx470818 Member Posts: 16
    Guruuno,

    Is this FWD or AWD and what are the options come with the car?
  • guruunoguruuno Member Posts: 23
    AWD,loaded, only option is does not have are 19" wheels, LED headlamps.
    I can try to scan the window sticker if needed.
  • willis815willis815 Member Posts: 2
    After searching this site for months I finally signed on for a new lease. For anyone interested here is the quick run down.

    First off, this is the first time I used the Costco auto program (yes they do leasing too). If you are a member I highly recommend it. I have bought numerous cars and have haggled for hours.... this cut it all out.

    MSRP: $52,233
    Offer: $42,990 ($800 over invoice)
    Resid: 60%
    36mo /10k yr

    I got nav with every option there is outside of the towing package (lights, wood, mark lev audio......)

    The only thing left to when I got to the dealership was to move them on the money factor (I have great credit), knock off some padding, haggle my trade in and see if I wanted to give a down payment. Easiest transaction I have ever done. This site helped alot with finding the padding they slip in.

    BTW, this was in Towson Maryland.
  • sawjaisawjai Member Posts: 23
    Anyone heard anything on the lease rates for the RX450h. I got a couple of letters from Lexus dealerships wanting to buy out my current lease to get me into a new vehicle. That was an interesting idea, but want to know what offers are currently being done. Looked like December was the month to pull the trigger.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Sawjai, Lexus lease money factor on the 2011 RX 450h is the same in January as it was in December, .00150 for consumers who qualify for its top aka Tier 1+ credit tier. The residual values dropped by a couple of points month-over-month though, so yes this truck's lease program was a little better in Dec.

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  • striper72striper72 Member Posts: 12
    edited January 2011
    I am being told by a dealer in NY that the acquisition fee on a RX350 is $895 on a lease. Seems about $195 too much compared to what others have paid. Anyone know the actual acquisition fee? Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi striper72. I believe that Lexus Financial Services' base acquisition fee is only $700. If the dealer is trying to charge you $895, they may be attempting to mark your vehicle's fee up in an effort to slip a little extra profit into your deal.

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  • jp89jp89 Member Posts: 10
    I am going to pick up the car tomorrow. I guess it is too late to ask to see if the lease is reasonable. 36 months at 12,000/year mileage
    It is a 2011 Lexus RX 350 AWD, MRSP is $47,985, Invoice price is $43,462 and sale price is $42,462.
    They quote me MF 0.0017, residual is 57% (27,351.45.) My sales tax is $3450, with 0 down payment (other than bank fee, DMV fee...) total finance is $45,912 ($42,462 + sales tax). My lease is $589/month. I calculated the MF is actually 0.0016 in order to get the $589/mo lease.

    Is it a good deal?
  • persevere12persevere12 Member Posts: 9
    Two questions on the RX 350 FWD:

    1. Is the FWD a good choice for living in Chicago?

    2. Is this a good deal:

    2011 Lexus RX 350 FWD
    Premium Package
    Navigation
    Heated Seats
    MSRP including 875 destination: 44,355
    Invoice including 875 destination: 39,549

    Negotiated Price: 39,855 (Including $1000 loyalty)
    Money Factor: .00212
    Residual: 50%
    Term: 42 months
    Sales Tax: 7.25%
    Due at Signing: 299 (Fees including license, title, doc)
    MONTHLY PAYMENT: 617.59

    and

    Negotiated Price: 39,855 (Including $1000 loyalty)
    Money Factor: .00212
    Residual: 49%
    Term: 48 months
    Sales Tax: 7.25%
    Due at Signing: 299 (Fees including license, title, doc)
    MONTHLY PAYMENT: 587.08
  • kyfdxkyfdx Moderator Posts: 235,175
    I wouldn't make your choice for you, but look on that Lexus dealer's lot, and see how many of the RX350s are FWD.. I'm betting very, very few....

    I live farther south than you, and really don't get the point of a non-AWD SUV/Crossover..

    Plus, aren't you in the middle of a blizzard? :surprise:

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  • cartman13cartman13 Member Posts: 58
    Ummm, look at the forecast, 18" of snow over the next couple days,
    I would say no. Not a good choice. I live in so cal, and I still buy AWD.
  • persevere12persevere12 Member Posts: 9
    Its too cold and snowy for me to go count the FWDs on their lot. :)

    Seriously, I have never driven an FWD car or suv. Is it bad for the snow? I won't be towing anything or doing off road driving - just our typical winters.

    Do you have an opinion on the numbers they are quoting me?
  • persevere12persevere12 Member Posts: 9
    Okay, thank you very much.

    I guess it is back to the drawing board with them.

    Is .00212 an accurate MF for top tier credit?
    I've been searching, do you know where I can find residual values?
    I guess for the RX350 AWD, 42 and 48 month, 15k/year
  • kyfdxkyfdx Moderator Posts: 235,175
    Nothing wrong with FWD, but crossover/SUVs typically come with AWD, especially in the Midwest. Resale isn't really an issue, as you are leasing, but on a vehicle designed for AWD, their isn't much downside to getting it.. and, given your current weather, a lot of upside.

    Actually, Car_Man is the resident expert on leasing, and has your info on residuals and money factors. He should be along shortly to answer your questions. Also, many times the FWD models will have different numbers than the AWD models.

    regards,
    kyfdx

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  • cartman13cartman13 Member Posts: 58
    I grew up in chicago, and i'm pretty certain you won't be happy if you get a FWD. Way too much snow and rain (and when it comes it comes in bulk...) FWD better than AWD, but if you plan on using it as an everyday driver, you will thank yourself for getting an AWD.

    I'm not sure if this has changed, but something I thought i would point out. IL is usually a very bad state to lease a car in. It's because they charge the the Sales tax on the entire vehicle purchase despite only having the car for 3 or 4 years. (I believe IL and TX and a few other states do this.) Also, if you do end up purchasing the car you will actually have to pay sales tax again. Other states charge you sales tax on your down payment and each payment only.... (use tax) This can be a source of significant savings between a lease and buy option for vehicles with higher residuals in higher tax states.

    I also want to say in IL, If you trade in a car you buy, i think you get a tax credit towards your new vehicle. But I don't believe you can do that with a leased car... I'm a bit fuzzy on this, so should look into it.

    I know this sounds academic, as your choice is still purchase or lease, but one thing i like about the lease option is if I don't use the mile allotted on my lease (i.e. i have a 45k mile lease, but only drive 20k due to changes in my life, you can usually buyout and sell the car recovering some of you lease payments....) Due to the tax setup in IL, I don't know if this is possible w/o incurring the double tax.

    hope that helps. and car_man is definitely the local authority on MF and residuals.
  • jp89jp89 Member Posts: 10
    NY too charged the sales tax on the negotiated price for leasing even I leased for only 12,000 miles for 36 months. The residual was 57% and MF was .0017. I just did it two weeks ago for 2011 Lexus RX350 AWD. I thought it was not fair to pay the sales tax on the total not on the 43%. The residual is calculated on the MRSP without sales tax. We have 8.75% of sales tax.
  • persevere12persevere12 Member Posts: 9
    So, if I look at the RX 350 AWD, have top tier credit - my money factor should be around .0017? What is the residual on a 15k/year 42 or 48 month lease?

    The AWD that I want MSRPs for 46,505

    Base - 39,775
    Destination - 875
    Premium Package - 2400
    Heated Seats - 640
    Nav - 2465
    Remote Start - 350

    Do I shoot to get it for inoice? (41,495)

    Did Lexus bring back their 1,000 loyalty?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi persevere12. I can't make your decision for you, but given the weather that you're having right now I personally would go with the AWD model ;).

    The money factor that you mentioned is a little on the high side. Lexus Financial Services' current buy rate lease money factor for a 36 month lease of a 2011 RX 350 is .00170 for consumers who qualify for its top credit tier.

    LFS' current residual value for a 42 month lease of a 2011 RX 350 AWD is 50%. The residual for an otherwise identical 48 month lease is 46%.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Lexus is indeed providing $1,000 owner loyalty cash on the '11 RX 350 right now.

    If I was in the market for this truck, I personally would shoot for a selling price of $500 to $1,000 over invoice minus the loyalty cash.

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  • persevere12persevere12 Member Posts: 9
    Car_man you rock! Thank you sooooooo much.
  • persevere12persevere12 Member Posts: 9
    Do these numbers look right to you?
    RX 350 AWD

    MSRP (including 875 destination) 48,850
    Negotiated price 44,000
    15k/year
    48 months
    Residual: 46%
    Money Factor .0017
    Money Due at Signing: $301 ($1300 - 1000 loyalty)
    Monthly: 639.00
    Trade in Allowance: 19000

    1. They are using the loyalty as part of a down payment.

    2. I've used a few online lease calculators and they all show a lower payment of 639. Is this an accurate payment or a good deal?
  • tlb5tlb5 Member Posts: 44
    I'm curious if my little excel calculator i made actually works so let me try and then maybe carman can set it straight:

    44,000 price; 46% on 48,850 msrp = 22,471 residual

    so depreciation = (44,000 - 22,471) / 48 = $449/mo.

    MF = 0.0017 so (44,000+22,471) * 0.017 = $113/mo.

    so so far payment = $562.

    in CA you get taxed on both depreciation and interest (no surprise there) so that'd be $562 * 1.0925 = $613 a month. not sure what state your in to figure tax, but i get a lower #. also not sure what the trade in allowance you state means regarding your pricing.

    did you use your loyalty to just counteract the acquisition fee and registration or did you actually reduce the cap cost more on top of that?
  • cartman13cartman13 Member Posts: 58
    Tack on another 500 for registration. Usually a $50-100 doc fee
    $795 acquisitions fee, and any tax for any initial cap cost reduction and your are probably pretty close to thei number.
  • sunnyeksunnyek Member Posts: 1
    hello carman, I just got an offer on lease of 2011 rx350 AWD with navigation , the offer is 3300 down payment and 530/month 36 months 10,000 miles/yr. I would like ur suggestions and advice if this is a good deal. they have the color we like. this is my first lexus and my first time leasing.

    thank you
  • tlb5tlb5 Member Posts: 44
    Yeah if you're going to add in acq and reg/ttl (I always do) to the starting cap cost then you're probably there. See if addinng about $1300 to the 44k in eac line makes it work (I'm on a mobile device now). Make sure doc fee isn't limited by law in your state (ours is now $55 I think). Did you use your loyalty to wipe out some sort of upfront fees already though?
  • persevere12persevere12 Member Posts: 9
    I don't understand what they are doing.

    Here is what I do know.

    MSRP 48,885
    Residual 46%
    Money Factor .0017
    Term 48
    15k miles

    They are asking for 1300 up front. (First payment 639, 287 cash down, 219 dmv fees, 154 doc fee)

    They are using the 1000 loyalty to offset 1300 up front, and I pay 300 up front.

    ****I have this for my current lease that is ending:

    Sale Price on RX 350 44000
    Trade In Allowance 19000
    =Adjusted price 25000
    DMV Fees 219
    Doc Fee 154
    Tax 1823.69
    Delivered Price = 46,269
  • tlb5tlb5 Member Posts: 44
    sorry, I should defer to carman then. IF your capcost line is in fact $44,000, then based on those numbers i get $561+tax (which in CA would mean $613/mo). you could always ask for the leasing sheet and post that here for comment.

    i'm still not totally clear on what's going on with any trade in issues (if it's a lease what does trade in allowance mean??) so i don't want to screw you up. still not sure what state you're in so i can't comment on the way they do sales tax, but i know you're not in CA because TTL and reg here would be over $500 on that car!

    where did the acquisition fee get worked in? is that already in your 44k?
  • persevere12persevere12 Member Posts: 9
    I have asked them for the leasing sheet, and they keep skirting the issue. Is that something they should give me?

    I just don't want to be taken.

    I have one more payment on my current lexus, and I'm under my mileage by 11k. I am wondering if this comes into play and they aren't telling me?

    If the MSRP of the car is around 48,800 (Including 875 destination). Per Edmunds, the invoice is around 43,650 (including 875 destination).... I am just looking to know exactly what I should be shooting for, and I feel like I'm getting the smoke and mirror treatment.

    My last payment on my current Lexus is due around the 18th of February, and I turn it in around the 18th of March.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, persevere12.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello tlb5. The payment that you came up with looks low to me. According to my calculations, this car should have a zero down, pre-tax monthly payment of around $712.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi sunnyek. The easiest way to evaluate this deal would be to look at this truck's selling price in relation to its MSRP. These numbers will enable us to see how large a dealer discount you are being given and in turn if there's any room left to negotiate.

    Let us know what these numbers are and I'm sure that either myself or another helpful community member will gladly let you know what they think.

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  • vinniephamvinniepham Member Posts: 1
    Hello everyone...

    Wondering if someone has and can post the Feb 2011 info for an RX350?

    Specifically, I am looking for the residual and money factor on a 36 month lease at 12k mi/yr.

    Sounds like the aggressive purchase price is somewhere between $800 and $1000 above invoice.
  • jp89jp89 Member Posts: 10
    It depends where are you buying. In northeast, NY, we have A and B packages both include the comfort package and premium package. B comes with navigation package. I got $1000 below invoice price with AWD and navigation package. I leased for 36 months, 12k annual. The MF is 0.007 and residual is 57% in Juanuary 20's.
  • cartman13cartman13 Member Posts: 58
    I hope that MF is a typo, that would be a very bad MF...
  • elizarievelizariev Member Posts: 8
    What are the current MF, residual, etc for RX350 2011 for 12k lease, 36 months?

    Is it going to change in March? Should I wait?

    I'm choosing between the rx350 and a BMW X3, which is a better deal from the financing point of view on similar price and terms? Which dealer is usually more willing to deal? My BMW lease runs out at the end of Feb.

    Thanks!
  • hvaleagueshvaleagues Member Posts: 1
    Is the money factor negotiable in leasing an 2011 Rx 350? I have seen some people post a MF of 0.0017, I was offered 0.0019. Here are the specifics -

    MSRP - 44,208
    Negotiated Price - 39,354
    Residual - 25,640.64
    36 months
    10,000 miles/yr
    5,150 down payment

    pymt 416 + 33.70 tx (NV) = 449.70
  • jp89jp89 Member Posts: 10
    It is typo, the MF is .0017
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello vinniepham. Lexus Financial Services' February buy rate lease money factor and residual value for a 36 month lease of a 2011 RX 350 AWD with 12,000 miles per year are .00170 and 57%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    I would say that anything between $500 and $1,000 over dealer invoice is a reasonable price to pay for an RX right now.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi elizariev Lexus Financial Services' February buy rate lease money factor and residual value for a 36 month lease of a 2011 RX 350 AWD with 12,000 miles per year are .00170 and 55%, respectively for consumers who qualify for its top credit tier.

    Lexus is scheduled to introduce a new lease program in March, but it's difficult to say what its new program will be like.

    BMW's and Lexus' current lease programs for the X3 and RX 350 are virtually identical if you are a returning BMW customer (which you are). If not, then the Lexus program is better.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi hvaleagues. The money factor that you mentioned, .00170, is correct for consumers who qualify for Lexus Financial Services' top aka "Tier 1+" credit tier. Though it may vary slightly by region. Try talking with another dealer in your area to see what money factor they quote you.

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  • russianguyrussianguy Member Posts: 5
    Hi. I was offered a lease with an option to buy for rx350 base model for 7500 down and 350 a month including all taxes and registration...what do you think of this offer or 7500 down and 425 a month for a fully loaded car
  • tjffarmstjffarms Member Posts: 1
    Hi Car_man,

    The new money factor for March 2011 is .00145 on the 2011 Lexus RX 350 for a 36 mo. lease with 15k/yr. Residual value stays at 55% for vehicle w/ Premium package.

    Thanks for all your help.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi russianguy. Let me begin by saying that $7,500 is a lot of money to put down on a lease. I always advise consumers to put as little money down as possible on leases.

    If you provide us with this truck's MSRP and selling price, I'm sure that either myself or another knowledgeable community member will tell you what they think of this deal.

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  • exbmrgirlexbmrgirl Member Posts: 3
    This is my first lease and my first Lexus. I've got Lexus RX 350 AWD, prem, navig, comfort, park assist, etc.
    MSRP 48,643
    Lease-end Value 26,753.65
    Annual Mileage 15,000
    Residual 55%
    Initial cap Cost 41,750
    total sales tax 1,834.20
    Bank Acq Fee 700
    Adj Cap Cost 42450
    rate Money factor 0.00145
    Term 36
    Mo Use Tax 9.5%:50.95
    base Monthly rental 536.36
    Total Monthly paymt 587.31
    Total Initial Fees 53.75
    Total Annual Fees 575
    Driveoff (incl 1st month) 1,216.06

    So, how did I do? Is it o'k for that car $1,216 down with 1st pmt and $587.31/mo for 36 mo, 15,000mi/yr???
  • oneo10oneo10 Member Posts: 10
    edited March 2011
    I am new to leasing: Does anyone know if a dealer has a new 2010 rx350, can that be leased? Do leases have to be for the curernt year model? Any help is appreciated.
  • jim53jim53 Member Posts: 118
    Car_Man,

    Can you tell me what the March lease numbers look like for a 2011 AWD RX350 assuming 10K miles per year and 36 month term?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi oneo10. Yes, I believe that one could still technically lease a leftover 2010 Lexus through Lexus Financial Services if they really wanted to. Lexus is not providing lease support on leftover '10 models any longer though. That means you would have to use its standard lease program.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jim53. Lexus Financial Services' March buy rate lease money factor and residual value for a 36 month lease of a 2011 RX 350 AWD with 10,000 miles per year are .00145 and 58%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

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  • jim53jim53 Member Posts: 118
    Thanks. Forgot to also ask if they still offer a multiple deposit program on leases and if so what are the current guidelines.

    Thanks again.
  • soccermom1997soccermom1997 Member Posts: 2
    That's a good deal based on my quotes. Where is the dealership located? Any negotiation tips? Thanks and congrats on your new car!
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