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

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  • winterhauswinterhaus Member Posts: 1
    Is the money factor the same on a 36 vs a 48 month lease? Thanks
  • tlb5tlb5 Member Posts: 44
    edited March 2011
    that looks legit to me assuming the other $600 of your money down is for title/reg. that is a very good price, sig. below invoice for that car - and it looks like it's your first lexus so no loyalty $ - what dealership did you use?

    although, now that i look at the way bottom, what is annual fee? that's a new one...??

    i'm looking for basically the same car with 10k/yr for 36 mo. guessing based on your sales tax you might be in my area...!
  • tlb5tlb5 Member Posts: 44
    2011 RX350 AWD obsidian/parchment with premium, comfort, nav, upgraded spkrs and wheels/tires, towing pkg, wood trimmed wheel/knob and 'accessory' pkg (mats/wheel locks etc).

    MSRP $49045 ($48803 as outfitted on edmunds, plus $242 for their dealer 'accessory pkg'
    Invoice $43613 on edmunds, $43855 if you add the $242 acc. pkg to the base (i gave them that benefit of the doubt just to be conservative with the invoice price)

    Sale price $42,358, I added acq. fee into lease so adjusted cap cost $43,058
    36 mo/10k, 58% residual 0.00145 MF = base monthly payment of $510/mo + CA tax = $557/mo. payment wtih tax included

    Due at signing were $585 registration/title, $50 doc/tire fee and $557 first month's payment (so $1,192)

    Everything was straightforward, dealer agreed over the phone to the #'s, including lease terms, no funny business on site (of course still tried to sell protectant, etc, but not pushy), and we were in and out of there in less than an hour.

    I started the process with a consumer reports build/buy request but honestly all 3 dealers beat the CR price anyways, and this particular one by a significant amount plus had the color combo i was looking for.

    What ended up happening is all the offerred cars had more equipment than i asked for the in CR build/buy (in this case about $2000 worth more) BUT they minimally added to the sale price (meaning they trimmed all the profit off those add-ons) and it made for a GREAT lease deal with the residual climbing and the capcost staying as low as possible (or course still higher, but not enough to increase the lease payment).

    for example: on a deal i did NOT take, there was $2300 more equipment on the car and the price was only $700 more so the lease was cheaper than the CR quote
  • exbmrgirlexbmrgirl Member Posts: 3
    I've got that deal at Lexus Serramonte-- San Francisco, California
  • exbmrgirlexbmrgirl Member Posts: 3
    I have no idea regrading annual fees on anything. I just know I paid 628.69 and 1st month 587 as drive off and will continue paying 587 for 35 more month. I thought it was not bad considering it is with 15,000 miles/year. And I did not get customer loyalty discount b/c it is my first Lexus and my first lease.
  • dmc82dmc82 Member Posts: 3
    edited March 2011
    Would someone please post the March Lease rates for the RX350 FWD and AWD on a 36 and 39 month lease 12K mile. Not sure if packages make any difference but looking at Luxury/comfort/DVD entertainment/Park Assist

    Thanks so much!
  • criscris Member Posts: 2
    I was running into the same sort of situation with the option arrangement but did not get near the price you did......My tax rate is the same in CA, assuming you much be near by......What dealer did you deal with on this transaction.
    Thanks!
  • mc_lamc_la Member Posts: 3
    Hey Car_Man,

    Got a question for you.

    We have an 2009 RX where the lease ends on 4/1/11 so we’ve already made the last payment. I have also been in touch with a dealer and have a deal in place to lease a new RX, and since we have a lot of positive equity on the old RX we are using that towards the new lease. My question is, since the old RX is paid thru the end of the month, should I wait to get the new car? The old payment was $466 so essentially I’m giving up $233 since my new lease would start right away.

    The numbers are:
    $47,246 MSRP
    $42,805 Purchase Price – $1000 Lexus Loyalty – $3800 for my trade-in
    Cap Cost= $38,005
    36mo/10,00 miles/.00145 MF/58% residual
    Monthly=$389.35 + tax
    Acq Fee, 1st month and DMV in drive off of around $1700

    So I guess I have two questions.

    1) Is this a good deal? It’s about 9.4% off MSRP and my trade-in is valued very close to KBB trade-in.

    2) Would you do it now or wait to the end of the month so as not to lose the money I’ve already paid for the current lease? I mentioned this to the dealer after we came up with these numbers and his response was “maybe we should just wait until the end of the month”.

    Thanks for the info. This site and forum have been great for information on this lease.

    -MC_LA
  • kyfdxkyfdx Moderator Posts: 236,815
    I'm not Car_Man, but here goes...

    If you have a great deal on the table.... better snap it up, and not worry about the $200 of lease time lost..

    1) You could get in an accident... goodbye equity..

    2) At the end of the month, when you have no other clear options, the deal could change on you...

    As someone once said... you are stepping over dollars to pick up dimes.. ;)

    regards,
    kyfdx
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey jim53. I believe that LFS' MSD program does indeed still exist. The last time I checked it provided a .00010 deduction with a maximum of nine additional payments.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Yes

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello dmc82. Lexus Financial Services' March buy rate lease money factor and residual value for a 36 month lease of a 2011 RX 350 FWD with 12,000 miles per year are .00145 and 57%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    The numbers for an otherwise identical lease of an '11 RX 350 AWD are exactly the same.

    The money factors for 39 month leases are the same, but the residual values drop to 52%.

    Car_man
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  • tlb5tlb5 Member Posts: 44
    Lexus of serramonte, just like bmrgirl. I was surprised by the price but there is definitely high inventory in the bay area. Redwood city also gave a very good price but serramonte (int sales guy) was the best. Pleasanton resisted negotiating over the phone/email. Are you in the bay area? Again I started with build/buy on CR and I had two very good, adequately detailed offers, via email (and followup voicemalis) within hours.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi mc_la. The selling price that you were quoted looks very good to me. It is probably right around, or perhaps even a little under dealer invoice. This is a good enough deal that I personally don't see any reason to wait.

    Car_man
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  • jim53jim53 Member Posts: 118
    Thanks. They are claiming it was reduced to .00008 per deposit up to a max of nine a while ago. I know other companies like BMW made the adjustment lower a few years ago too. Possibly this is true?
  • dealspotterdealspotter Member Posts: 1
    edited March 2011
    We are thinking of assuming a lease for 2010 RX350 AWD. It has Premium, Comfort and Sport packages + Navigation system. The car has 13 months left on the lease. The monthly payment is $636. The current lease buyout price is $ 36,200. The end of term lease buyout is $28,600.

    Is $36,200 a good price for a buyout? Or should we wait and then decide at the end of the lease?

    I am leasing newbie. Any info will be appreciated.
  • ritazzritazz Member Posts: 1
    Can you give me inof on who you spoke with at Lexus of Serramonte and what kind of deals they offered?
    THANKS!
  • bminusbminus Member Posts: 12
    I went to a dealership today in houston looking for a new RX and they quoted me a 58% residual and a money factor of .00249 for tier 1 credit. The money factor is markedly different from what other people on this forum are saying. The dealer told me that the money factor differs by region and there was no changing it. Any truth to this?
  • leasegrabberleasegrabber Member Posts: 23
    Just leased the RX350 with Prem Package only

    The numbers are:
    $43,290 MSRP
    $39,794 Negociated Cap cost
    36mo/12,000 miles/0.00073MF/57% residual/9 MSD's
    Monthly=$476.02 (including NJ tax)
    Acq Fee, 1st month and DMV in drive off of around $1800 , ofcoz the 9 MSD's

    Now Gurus of leasing, please tell me if this was a good deal?

    Thanks in advance !!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome jim53. It is indeed very possible that the MSD deduction was reduced. I haven't looked into it in a while.

    Car_man
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  • leasegrabberleasegrabber Member Posts: 23
    Hey Car_man,

    Can you please tell me if mine was a good deal?
  • topgun7topgun7 Member Posts: 412
    They are claiming it was reduced to .00008 per deposit up to a max of nine a while ago

    yes, I think they are right... I did 9 deposit on a 08 LS460 a couple years ago and each deposit I got 0.00008 reductions.. Infiniti is the only one that hs 0.0001 per deposit reduction.. BMW is 0.00007 per deposit...
  • leasegrabberleasegrabber Member Posts: 23
    Hi,

    Can any one please respond to my numbers on the lease, this was my first lease and I am concerned whether it not it was a good deal...

    Thanks again
  • blk133blk133 Member Posts: 1
    edited March 2011
    Hi,

    This is my first post so I am not a pro here, but I think you got a great deal. I also think that you know that already :) Even if it wasn't a good deal it's not like you can go back and change it. Enjoy your new car!
  • topgun7topgun7 Member Posts: 412
    edited April 2011
    Can any one please respond to my numbers on the lease, this was my first lease and I am concerned whether it not it was a good deal...

    The best way to figure out if the lease is a good deal or not is to look at the component..

    Do you get the best price for the car? don't look at what people in Ca pay for their car.. You need to look for what can you get in NJ.. If you already compare price at all the dealer,then you know you get the best price already.. If not, well, you have to make some educational guess.

    Do you get the money factor that Car_man mention?

    do the delear slip any unexplained charge into you lease?

    If you get the correct money factor and there is no additiona chrge then you get yourself the best deal possible in NJ.. don't worry about what somebody else get in California or Florida unless you plan to fly out to pick up the car out of state...

    it is very common when you ask a question like this in a msg board, someone would jump in and mentioned that they get a better deal in S. California or you should be able to get the price down another 2000 to 3000 dollars.. But what they ignore to say is that all car purchase are local.. The price for someone in Cal if not the same as the price that someone can get for the same car in NJ...
  • starabarstarabar Member Posts: 1
    Hi,
    This is my first post here and I'd appreciate any feedback.
    I'm going to pick up a 2011 RX 350 AWD Package E, fully loaded with Nav and 19" wheels. MSRP $48,693. The lease offer for 42 months, 10,000 miles, not including NYS taxes, bank fees, DMV fees and first month payment, is $527 a month with no money down(besides all fees and taxes upfront). Can I get a better deal? I left a deposit over the phone yesterday and I'm planning on heading over on Monday to process everything. Anybody knows if April money factor and residual are better than March? Thank you in advance for any feedback.
  • louiesmomlouiesmom Member Posts: 10
    Hey Car Man,
    I am currently leasing an '08 GX470. I have another year on this lease but I was recently contacted by my Lexus dealer about bringing my truck in because these 'older models are in high demand'. They seemed very reassuring about getting me out of this lease early without penalty. I would be interested in leasing a 2011 RX350 but, I do not want to be responsible for the remaining payments on my current lease. Is this situation something that you have heard of or is the dealer just trying to scam me?
    Also, do you happen to know the current (April) leasing program for the 2011 RX 350's (money factor/residual)?
    Thanks so much! This forum has helped me for my last two leases!!
  • topgun7topgun7 Member Posts: 412
    I do not want to be responsible for the remaining payments on my current lease. Is this situation something that you have heard of or is the dealer just trying to scam me?

    No, the dealer is not trying to scam you but they may want to do a highway robbery without the gun. With your lease with Lexus, every month there is a payoff amount. If you have access to the online account, it is in there. If not, you can call Lexus financial and they will give you that number. The pay off amount is the amount of money that Lexus will sell you the car at this particular month. Essentially the dealer is offering you to buy the car from you using that amount so they will pay off your lease and they will take your car and sell it thmeselves. It is legitimate. However, if the truck is as desirable as they claim, you can probably sell it yourselves to another dealer and pocket some money. If you have multiple dealer in your town (or near by towns), you can call them up and talk to the used car manager. Told him the offer you received (but no name.. all the dealer in an area know each other well. You don't want them to gang up on you) and ask them to bid on your truck.. We did that a few months ago and sold our LS460 to a dealer and we walked off without any additional money.. Wife called 7 dealers and 3 reponded.. The high and low offer was about 3,000 different. The key is to generate some competition (and always say no to the first offer) and you should get the best possible prie in your area. good luck..
  • tlb5tlb5 Member Posts: 44
    ritazz,

    sorry - haven't checked the forum in awhile. email me at rcirz2@irr.com and i can send you his info (want to follow forum rules and not disclose specific dealer names over the forum and i do NOT see him listed on the serramonte site so i can't just point you there...)
  • roblawroblaw Member Posts: 17
    I am looking for a 2011 RX 350 AWD in SE Pennsylvania/S. Jersey with Prem., Comfort, Tow, NAV, 12 Speaker. It seems the car was about $48,300.00 but is now around $49,000.00 with the new price increase. I am looking for a 36 mo. 12k lease. Actual dealer cost from Truecar (with holdback removed and advertising fee added in) is about $42,600.00 for the pre-price increase car. Has anyone gotten close to about $44,000.00 for that car? I am also looking of the additional loyalty cash of $1000.00.

    And Carman, can you tell me the current lease factor for April?

    Thanks.
  • jane3jane3 Member Posts: 21
    My husband was reading these edmunds boards and told me that when looking at lease prices, that a good deal is about 40% of the MSRP divided by the number of months on the lease (assuming 36months and 15000 miles). Is that correct? I am looking at a 2011 RX AWD with nav, prem, comfort, and remote start, MSRP at $48700, trying to get price of $42000 and deciding to lease or buy.

    Thanks
  • roblawroblaw Member Posts: 17
    I do not know where you are so I cannot speak to the competitiveness of your market. Truecar gives the true dealer cost (invoice minus the dealer holdback with the advertising added in) at $42,600.00 for the pre-price increase car I priced out (a few hundred less than yours at about $48,300.00).

    I got a what I perceive as a fair offer in PA of $44,000.00 and I keep the $1000.00 Lexus loyalty money. That gives the dealer about $1400.00 profit. Yes, I could have shopped 10 dealers, wasted many hours of my time and probably saved a few hundred dollars. No negotiation was necessary with this offer. Truecar dealer cost is probably a few hundred higher, maybe $42,900.00 on your car. Since this is the dealer's actual cost I would be surprised if a dealer is willing to lose $900.00 to sell a vehicle. The dealer I last purchased my last RX 350 would not come below $46,500.00 for the vehicle I priced out so I feel that my agreed price is probably decent.

    Good luck.
  • jane3jane3 Member Posts: 21
    Thanks, good to know your numbers. I will use trucar and aim for $44000.
  • roblawroblaw Member Posts: 17
    Jane: Did you ever nail down a price? I see people saying that they got lower than actual dealer cost. The Truecar price is supposed to be actual dealer cost (not invoice), yet a few posts from different areas of the country show prices below cost (meaning even after the dealer holdback is removed). I do not see how a dealer is going to lose money on a deal. I went to my current dealer and they would not come below $46500.00 and I got $44,000.00 without arguing for my current offer. I know I could have solicited offers from multiple dealers but I do not have the time nor the inclination to do that.

    What was your experience? Are you local to SE PA/NJ?
  • delta737hdelta737h Member Posts: 626
    The Truecar price does NOT reflect dealer cost. In fact, very few people inside a dealership know the actual cost to the dealer. No dealership is going to entrust revolving door sales personnel with proprietary cost information for competitive reasons. Moreover, there are so many other costs that factor into the dealer cost other than holdback. Floor plan costs or the cost of financing is one such cost. Other costs include manufacturer to dealer incentives not generally known to the public.

    John
    The AutoLeaseGeek
  • roblawroblaw Member Posts: 17
    Thanks, John. Then if I settle for $4400.00 off a $48,300.00 Lexus (Truecar profit of $1400.00 for the dealer) am I leaving too much on the table. Some posters are suggesting that they are getting cars far lower than invoice, even accounting for the holdback. I am OK with the dealer making a profit and I am not inclined to waste my time (because I bill by the hour) going back and forth with 10 dealers. unless you are suggesting that I am leaving several thousand dollars on the table. These incentives you speak of, neither Edmunds nor other sites finds out about them?
  • delta737hdelta737h Member Posts: 626
    edited April 2011
    roblaw,

    Dealer profit is irrelevant as far as the customer is concerned. I suggest letting the dealer worry about whether or not they're making a profit. Consumers have no clue what a dealer's profit margin is on any given deal. I would comb truecar pricing as well as edmunds and amex (zag.com) to get a rough idea of pricing in your region. Start with invoice and deduct holdback, incentives, and, then, knock off another $1,000 or so for good measure. Some incentives are proprietary and are not published. So, yes, edmunds and truecar would have no knowledge of them.

    Also, you may want to print out or download my sample lease proposal by clicking on HERE at...

    https://autoleasegeek.com/services/custom-lease-proposal

    Remember, you can always come up but never down when negotiating the sell price.

    Hope this helps.

    John
    TheAutoLeaseGeek
  • jane3jane3 Member Posts: 21
    One dealer called on monday with an offER of $44655 but wanted me to sign ASAP, and I had meetings that night. I am going back this weekend to nail down a deal if I can for $44000 to 45000 as my ideal price point.
  • zoranzoran Member Posts: 69
    Any one with latest deals on lease?
  • louiesmomlouiesmom Member Posts: 10
    ok so, I just closed a deal today and well, I'm not sure I got the 'best' deal but, I am okay with the deal I did get. Here goes:
    They took my 08 GX470 lease back with 12 remaining lease payments (I was getting too close to being over on my miles). They bought the truck (and remaining payments) from the bank.
    I got a 2011 RX350 AWD Fully loaded, NAV, Comfort, Premium pkgs, Park Assist...
    MSRP $52560
    neg price: $46403
    48 month lease with 12k miles per year
    Residual: 47%
    Money Factor: 0.00155
    Payment: $599 per month
    Due @ signing: 1st month payment + DMV fee + plate fee

    They basically just transferred me into a new truck with the same payment that I had with my GX with virtually no money out of pocket @ signing. I think I might have been able to get a better deal if I went to more dealerships and really haggled with the price of my GX, I just don't have that kind of time to invest in it.

    Good luck everyone!
  • chas0215chas0215 Member Posts: 40
    Honestly, your lease deal sounds to good to be true. Could you just clarify the following: you put absolutely no other money down other than what you previiously indicated and they purchased your truck with 12 remaining payments with no negative equity (i.e. Additional out of pocket money to be paid by you)? I did the math on a lease calculator and I can't duplicate your deal. What part of the country do you live in? What about sales tax and the bank fee? Was all of this rolled into the monthly payment as well? I would greatly appreciate any additional information you could provide. I am in the NYC metro area. Thanks.
  • David EhrlichmanDavid Ehrlichman Member Posts: 47
    I have been watching the discussions here and today, this is what I got.
    2011 RX 350 AWD, Premium, Nav, luxury.
    12K per year, 42 months, 509.45 monthly.
    I pay the tax, fees, and MV.
    Decent Deal I thought.
  • dan999d999dan999d999 Member Posts: 6
    How does this sound to the experts on this board as i really need help with this deal...appreciate any opinions you could offer...

    RX 350 AWD
    Premium Pkg
    Comfort Pkg
    Nav system
    Preferred accessory pkg
    Wood trim
    Premium audio
    Intiuitive parking

    36 mo lease - actual cap cost to me = $44K
    21K miles /year (salesmen job)
    1st mo paymt/bank fee $750 and DMV fees $450

    Was quoted $680.month with sales tax included - dealer in PA
  • roblawroblaw Member Posts: 17
    Dan999:

    I can only tell you what I got. I have no idea in PA where you are. I recently (2 weeks) got a similar car (without the intuitive assist), list price $48,385.00 for basically the same out of pocket on a 36 month lease (12k per year) for about $580.00 per month including tax. This was a cap cost of $44,000.00 plus I got $1000 Lexus loyalty money. I am not aware how much the cost of the extra miles and parking assist will add to the payment. I had a very pleasant experience with a young lady at Wilkie Lexus and would be pleased to give you her name if you contact me offlist.

    Please understand that I did zero negotiation. I looked on these lists and gave the dealer a number that I thought was fair, knowing that I could have shopped ten dealers and gotten a lower number if I wanted to waste a lot of my time and endure hours of stress. They took my offer without a fight, added no junk fees, and the overall experience was painless.
  • dan999d999dan999d999 Member Posts: 6
    thx for reply - i think the extra miles will add about $125/month as the residual drops by about 10% on the additonal mileage which is about $4400 over 36 months from a quick calculation so i would end up at your $580/mo + 125 equaling about $705 so the $680 looks reasonable - at least it would appear i am not getting really taken to the cleaners...

    thx again..
  • junap1junap1 Member Posts: 2
    I am interested in the same deal you negotiated at Wilkie. Do you have the name of the sales woman you dealt with? I was just at Thompson Lexus 2 days ago and they gave me a $705/month lease quote, 36 months/12k/yr: based on MSRP of $48906.
  • 03qx03qx Member Posts: 91
    2011 RX350 FWD
    Premium Package
    Nav System
    Vent Seats
    Cargo Mat
    19' Wheels
    Cargo Net
    Wheel Locks
    Wood & leather Wheel and Shift
    Cross Bars

    MSRP = $ 46,236
    36 Mo 12K Lease
    Drive Off was 1st Pmt and Calif License Fee ( $1,200 )
    Pmt = $ 512 Plus tax Per Month

    By far best deal I could find
  • roblawroblaw Member Posts: 17
    junap1: My car was the pre-price increase so it was a bit less expensive. Thompson was where I purchased my last Lexus and was not even in the ballpark on this deal. My car was $44k on a $48,385 list. I was about $1600.00 out of pocket which was the bank fee, first month and normal title and tag fees (no capital cost reduction). My car with PA taxes is about $580.00 and change per month. The rules do not allow me to post my email address in the message. If you go in and make your email public and send me a response I will email you the name of my salesperson at Wilkie. She was a pleasure to deal with.
  • dan999d999dan999d999 Member Posts: 6
    Does anyone know what the new money factor is for May 2011?

    I know over at Acura they dropped it from .00145 in April to .00130 for May .....and since Lexus was also .00145 in April, i am hoping they have changed it also...

    Thanks
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I certainly do dan999d999. Lexus Financial Services' May buy rate lease money factor and residual value for a 36 month lease of a 2011 RX 350 AWD with 15,000 miles per year are .00165 and 57%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    Car_man
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