Edmunds dealer partner, Bayway Leasing, is now offering transparent lease deals via these forums. Click here to see the latest vehicles!
2013 and earlier Lexus RX 350 / RX 450h Lease Questions
This discussion has been closed.
Popular New Cars
Popular Used Sedans
Popular Used SUVs
Popular Used Pickup Trucks
Popular Used Hatchbacks
Popular Used Minivans
Popular Used Coupes
Popular Used Wagons
Comments
Is this FWD or AWD and what are the options come with the car?
I can try to scan the window sticker if needed.
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.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
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?
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
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:
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and share!
Edmunds Moderator
I would say no. Not a good choice. I live in so cal, and I still buy AWD.
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?
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
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
Edmunds Price Checker
Edmunds Lease Calculator
Did you get a good deal? Be sure to come back and share!
Edmunds Moderator
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.
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?
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%.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
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.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
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?
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?
$795 acquisitions fee, and any tax for any initial cap cost reduction and your are probably pretty close to thei number.
thank you
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
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?
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.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
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.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
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.
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!
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
I would say that anything between $500 and $1,000 over dealer invoice is a reasonable price to pay for an RX right now.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
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.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
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.
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.
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
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???
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?
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Car_man
Host
Prices Paid: Buying & Leasing Experiences Forum
Thanks again.