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

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Comments

  • I am no expert on these, but as a datapoint, I was able to negotiate the 2013 with NAV down to $3200 down + $4950 in MSD and a payment of $499 x 33 months with 10k down. I was/am looking for a 2012 so I passed on this and did not find out the other details. BTW I went through costco car buying which I was told gets about 4k off the MSRP ( not sure if this was specific to 2012s). This is in northern NJ (NYC metro area)
  • you will not be able to ship the car from mainland to Hawaii. you will have a lein on the title that will prevent you being able to ship.
  • bmhavenbmhaven Posts: 6
    Would appreciate any thoughts on whether or not this is a good deal...

    I was quoted a lease in NC on a 2012 RX 350 w/ nav ($48,858 MSRP), 48 months/12k miles, .0011MF and 47% residual. Total monthly payment $501.78 w/ $1952 due at signing (broken out as $700 acq fee, $499 doc fee, $105 plate transfer and $648 prepaid taxes). I was told the selling price is roughly $44,500. Would appreciate any feedback on this deal.
  • mlrseattlemlrseattle Posts: 1
    edited June 2012
    Dear Carman,

    First time post, long time reader.

    I am looking for best 36 month lease for the money in a suv, lowest money factor, highest residual in the Seattle market, top tier credit, 10 to 12k miles per year.

    Lexus 350, Acura Mdx, or others you see as good value?

    Thanks for what you do!

    MLR
  • floridacargirlfloridacargirl Posts: 1
    edited July 2012
    Wondering if we got a good lease deal on our new Lexus. I'm in Tampa, Florida. Please let me know what you think!

    2013 RX 350 FWD - 24 MONTHS, 10K MILES/YR (option to renew 3rd year),

    -Premium package (includes leather trim interior, one-touch open/close, moonroof, power-folding electrochromic heated outside mirrors, driver's seat/steering/mirror, memory seats-3 settings)
    -wood&leather trimmed steering wheel & shoft knob
    -cross bars
    -cargo spider net
    -cargo mat, cargo net
    -wheel locks & key glovs
    -appearance protection (dealer add on)
    -door edge cup guard (dealer add on)
    -theft protection (dealer add on)
    -purigen/lifetime replacement (dealer add on)

    MSRP $43,338
    MSRP plus dealer added equipment $44,524
    Total listed sales price $45,224 (includes $875 delivery fee and $700 dealer service fee)
    Negotiated Sales Price - $41,966 (including $875 delivery fee and $700 dealer fee)
    Money Factor - .0019
    Residual - 72% ($31,203 after 24 months)
    Trade-in - $8,000 (when we started, they only offered $6k but they bumped it up by $2k to make the deal. I think the true value was about $7k)
    Cash down - $1,500
    Payment - $246/month (including all fees, tax, etc.)
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Welcome aboard mlrseattle as they say on sports radio.

    The 2012 RX 350 still has a decent lease program available on it, but the restyled 2013 model does not have any support yet.

    The lease program on the Acura MDX is probably slightly better because there's $1,500 dealer cash on it that can be used on leases.

    The lease programs on the Audi and BMW SUVs are worse.

    I haven't seen the new lease program for the Cadillac SRX yet, but I suspect that it is competitive.

    The Infiniti FX35 should cost around the same as the MDX to lease as well.

    Car_man
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  • rwells3rwells3 Posts: 4
    allthingsauto,

    Thanks for taking the time to answer, much appreciated.

    Aloha,

    rwells3
  • kozak79kozak79 Posts: 4
    What are the Money Factor and Residuals on an RX350 with 10,000 miles/year for 36 months?

    Thanks Car Man
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi kozak79. According to the latest information that I have seen, Lexus Financial Services' current buy rate lease money factor and residual value for a 36-month lease of a 2013 RX 350 AWD with 10,000 miles per year are .00190 and 62%, respectively for consumers who qualify for its Tier 1+ credit tier.

    Car_man
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  • bigb316bigb316 Posts: 5
    Car Man

    Tell me if this is a good deal

    RX 2013 Premium Package AWD
    Leased 36 months
    15K Miles a Year
    $999 at signing
    $10K back on Trade
    $650 a month

    Do you think there is any room to haggle on the base price of the vechile? They claim it is $46394 and selling price is $43094

    Thoughts???

    Thank you!

    B
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hello bigb316. The selling price that you were quoted for this truck is excellent, but the payment looks a little high. Using Lexus Financial Services' current buy rate lease money factor of .00190 (top credit tier) and a residual value of 59%, I estimate that this truck would have a zero down, pre-tax monthly payment of around $571. I doubt that sales tax adds $79 per month to your payment. Make sure that the dealer is using the buy rate to calculate your deal.

    Car_man
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  • bigb316bigb316 Posts: 5
    Good Morning Car ManThey are using a 63% residual on it for 15K miles? Does that sound right or no? We qualify with top tier plus credit as well so money factor should be that. So you think that $571 plus tax would be neg? or firm? Sales tax in TX is 6.25%

    Thanks for your help!
  • jtmyob21jtmyob21 Posts: 14
    CarMan, does this sound right to you, for a FWD in S. FL, purchase price is $45,985 with these options: Premium, comfort, navigation, parking assist, all season tires, towing prep, wood and leather steering and knob, cargo mat, cargo net, wheel locks, and key glove.

    "39 months and with 10k miles per - payments would be $597 plus tax, with just inceptions down. The residual on a 36/10 lease is 62% with a rate of .00200."

    What should I be pushing for as a lease price? Thanks!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey bigb316. That residual value actually looks a little high to me. Is the dealership running your deal through a different bank than Lexus Financial Services?

    As I mentioned, this truck's selling price looks good, you just need to figure out why the payment is so high. Is the dealer using the lowest possible money factor? what fees are they rolling into your deal?

    Ahhh, I just noticed that you are in Texas. That may explain the major difference. The calculation of sales tax in TX is pretty rough. I believe that they charge tax on the vehicle's entire selling price.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hey jtmyob21. What is this truck's MSRP? I need to know both it and the selling price in order to tell how large a dealer discount you are being given.

    Car_man
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  • jtmyob21jtmyob21 Posts: 14
    Thanks, Car_man. The selling price is $45,287 and the MSRP is $48,775.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Wow that was fast, jtmyob21! I assume that you are talking about a 2013 model. OK, the truck that you described probably has a spread of around $3,200. You were quoted a larger discount than that, so this aspect of your deal looks excellent to me.

    Just make sure that the dealer uses Lexus Financial Services' buy rate lease money factor of .00190, assuming that you qualify for its top credit tier, and you're in business.

    Car_man
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  • What is the RV and MF for 2012 and 2013 RX 350 AWD?
    2012 AWD with package of $3,958 comes to MSRP: 45,328
    and 2013 AWD with package of $4335 come to 45,940.

    Can you please provide numbers for 24, 36 and 39 month leases for 15,000 miles. I live in Michigan. Thank you.
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi cricfan777. Lexus Financial Services' new August buy rate lease money factor and residual value for a 36-month lease of a 2012 RX 350 AWD with 15,000 miles per year are .00190 and 55%, respectively for consumer for consumers who qualify for its Tier 1+ credit tier. This truck's 24 and 39 month numbers are .00190 / 65% and .00190 / 52%.

    There is $3,000 dealer cash on the 2012 model.

    The numbers for an otherwise identical lease of a 2013 model are .00165 / 69% for 24 months, .00165 / 59% for 36 months and .00165 / 56%.

    Car_man
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  • Carman,

    My first post and need your input on a Lexus lease I am considering. Is this a good deal..I don't know a lot about leasing, etc..thanks for your input.

    2013 RX350 w/ Navigation System/Premium Package

    MSRP: $48,709

    Vehicle Price $44,709

    Final price $47,860 after Texas Sales Tax, fees, title, etc

    12,000 miles/no money down

    36 month lease $668/Month Residual - $29,712

    48 month lease $641/Month - Residual - $24,355
  • bigb316bigb316 Posts: 5
    Car Man,

    What is money factor in Texas on 2013 RX 350 Lease Terms and residual on Premium w/o Nav.? 36 Months, 15K Miles. They are saying it is .0021

    Thank you for your help
  • chas0215chas0215 Posts: 40
    I am in metropolitan NYC. Just leased a 2013 RX, MSRP $49,545, $0 out of pocket costs other than DMV, 12K/yr, 27 month LFS lease (Lexus makes first lease payment) for $635/mo. It took some negotiating but it can guide you and others about the current promotion lease deals that Lexus has available until 9/4. Good luck!
  • was it 635 with taxes included?
  • chas0215chas0215 Posts: 40
    Yes. $635/mo includes NYS 8.625% sales tax. Only out-of-pocket expense is for standard DMV fee, absolutely no other cost to me and only 26 payments due because Lexus makes first payment. It's a great deal but required a lot of persistence and getting local Lexus dealers to compete against each other. The monthly lease price kept going down and down within a matter of just a few days as long as you make it clear that you will go with the dealer that gives you the best price. None of them wanted to lose the sale but only one could prevail. Get the dealers to compete against each other and not against the consumer. Good luck!
  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Hi singlelady64. Since you are new to leasing, you definitely should check out the following informative articles on the subject that are available here at Edmunds.com: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    In short, the easiest way to get a good deal on a leased vehicle is to shop around for the lowest possible selling price and then have the dealer that you decide to go with calculate your vehicle's monthly payment using its buy rate lease money factor.

    The selling price that you were quoted for this truck looks excellent. Just make sure that the dealer uses Lexus Financial Services' current buy rate lease money factor of .00165 to calculate your payment and you're in business.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Posts: 38,515
    Greetings bigb316. Lexus Financial Services' August buy rate lease money factor and residual value for a 36-month lease of a 2013 RX 350 FWD with 15,000 miles per year are .00140 and 59%, respectively for consumers who qualify for its Tier 1+ credit tier.

    Car_man
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  • kozak79kozak79 Posts: 4
    Hi CarMan,

    I see this deal going on right now:

    *2013 RX 350 (AWD) w/Nav
    Lease Special
    COMPLIMENTARY FIRST MONTH'S PAYMENT**
    MSRP $49,565
    $459/month $3,999 due at signing
    27 months with 10,000 miles per year
    Offer Ends September 4, 2012

    But, using the lease calculator on this website and the number you provided, I can't match this deal. I'm off by about $100 in the monthly payment. I'm assuming that this deal is also based on they full MSRP and if that can be negotiated down, the monthly or the due at signing will be much lower.

    Thanks,

    Alex
  • Hi Alex. I doubt that this advertised lease payment is based upon full MSRP. Even the worst deals that manufacturers advertise usually include some sort of discount. That might make up for much of the difference between what you calculated and the advertised payment.

    Car_man
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  • Hey Car man,

    Any idea what the new September Incentives are going to be for Lexus and the RX 350's?
  • Hi bigb316. Lexus' September lease program came out a couple of days ago. Hop on over to the RX Lease Questions discussion and I'll be happy to answer any questions that you have on that model over there. Thanks.

    Car_man
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This discussion has been closed.