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

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    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 Member Posts: 11
    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 Member 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 Member Posts: 38,514
    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 Member Posts: 38,514
    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 Member Posts: 14
    Thanks, Car_man. The selling price is $45,287 and the MSRP is $48,775.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    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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  • cricfan777cricfan777 Member Posts: 20
    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 Member Posts: 38,514
    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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  • singlelady64singlelady64 Member Posts: 1
    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 Member Posts: 11
    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 Member 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!
  • dumblogicdumblogic Member Posts: 4
    was it 635 with taxes included?
  • chas0215chas0215 Member 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 Member Posts: 38,514
    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 Member Posts: 38,514
    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 Member Posts: 7
    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
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    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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  • bigb316bigb316 Member Posts: 11
    Hey Car man,

    Any idea what the new September Incentives are going to be for Lexus and the RX 350's?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    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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  • bigb316bigb316 Member Posts: 11
    Hey Car Man,

    I guess it didnt post on here. Do you know the September Specials in Texas for the 2013 RX 350 FWD?

    My trade is worth 11k owned out right

    Thanks

    BigB
  • nycjeffreynycjeffrey Member Posts: 1
    Looking at a 2013 RX 350 lease in NY area within one week:
    - MSRP: $49,045
    - 36 Month / 10K
    - zero down
    - prepay tax

    Is it reasonable/possible to ask for $4k off from MSRP as the invoice price and calculate the lease payment?

    Can some one share the September Money factor and RV value based on 36Month at 10K? And any details on September lease price paid for RX 350 AWD, will be greatly appreciated!!!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey BigB. Lexus Financial Services' September 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 .00170 and 59%, respectively for consumers who qualify for its top aka Tier 1+ credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi nycjeffrey. There's a lot of competition in your area, but a selling price of straight dealer invoice might be slightly aggressive. I suspect that $500 or so over might be more easily attainable.

    Lexus Financial Services' September 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 .00170 and 62%, respectively for consumers who qualify for its top aka Tier 1+ credit tier.

    Car_man
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  • robinyorobinyo Member Posts: 1
    edited September 2012
    2013 Lexus RX 350 FWD w/ NAV and Premium Package w/Blind Spot Monitor System

    36 month lease
    15000 miles per year
    Down $2200 including first monthly payment with no other cost at all (no hidden costs)
    ended up having monthly payment $615 including Tax

    does it sound a good deal?
  • kchc1234kchc1234 Member Posts: 1
    Hi Car man,

    I'm in NY and wanted to know your thoughts on this RX350 Lease deal, can I do better?

    2013 FWD RX350 MSRP $44,530 (don't know the selling price)
    36 months & 10,000 mi/yr
    $3,500 out of pocket (tax, registration, 1st payment, fees) and $360/mth
    Lexus Display Audio Package (7" display, HD radio, back up camera, premium audio)
    Heated/Vent Front Seats
    Premium Package (Leather Trim, moonroof, electric folding & heated mirrors, Driver Seat Mem)
    Wood & Leather Trim Steering Wheel/shift Knob
    Cargo Mat, Cargo Net, wheel locks

    And just a question for clarification...if I buy-out at the end of the lease, is the buy-out price based on the residual of the MSRP or the residual of the selling price?

    Thanks for your help!
  • insidecarbuyinsidecarbuy Member Posts: 95
    edited September 2012
    Just helped a friend of mine get this deal…

    MSRP - $49,065 - Comfort, Navigation, Intuitive Parking Assist, Premium Package, Wood/Leather Steering Wheel, Cargo Mat-Cargo Net-Wheel Locks & Key Glove.

    Selling price - $43,860
    Money Factor -.00135
    Residual - 61%

    36 months
    12,000 miles per year

    Due at signing - $2,916.57 (1st month $486.57, Bank Fee $700, Taxes $1,349, New Plates $283.50, NYS INSP. $10, NYS Tire Fee $12.50, Doc Fee $75)

    Monthly Payment - $486.57

    CARMAN, How did I do?!?!? :)
  • soc2927soc2927 Member Posts: 1
    Hello,

    My wife and I are in the process of shopping for 2013 RX 350...this is what we've come with.

    2013 Lexus RX350 FWD- Comfort, Navigation, Intuitive Parking Assist, Premium Package, Wood/Leather Steering Wheel, Cargo Mat-Cargo Net-Wheel Locks & Key Glove.

    36Mo 10K Miles No Money Out of Pocket They pay 1st Mo: $599mo

    MSRP: 48,709
    Selling: 46100

    Residual: 62%
    MF: .00125

    Sales Tax 6.5%

    Is this a good deal?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi kchc1234. At first glance, this payment looks reasonable to me. However, I really need to know this truck's MSRP to provide you with a detailed analysis of this deal. If you let me know what the MSRP is I'll tell you what I think.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi insidecarbuy. You got a huge discount on this truck and the money factor looks good. This looks like a good deal to me. Enjoy!

    Car_man
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  • air6air6 Member Posts: 2
    Hi Car_man
    Pls let me know how did i do. I had to lease this car in 24 hrs in East Coast. I wasn't in the market until yesterday. Visited only one dealer. Talked to others on phone.

    RX 350 AWD with nav

    MSRP $49000

    15K/yr

    36 Month

    neg. price $45700

    RV 59%

    Don't know money factor

    Due at signing $2000 (all fees+ 1st month)

    paid 529 plus tax
  • JBO12JBO12 Member Posts: 8
    insidecarbuy:
    which dealer did you go to for this deal?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    This looks like a good selling price to me. The payment looks good as well. I think that you did a good job in such a short time. Enjoy your new ride :shades: !

    Car_man
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  • vinfrank1vinfrank1 Member Posts: 1
    edited October 2012
    Looking to lease a Lexus RX350.. I already have a CT 200h and need a SUV.

    I will be trading in my 2008 Sante Fe Limited. Kelly blue book estimates $15,000 so I wonder how much I will get?

    Anyways I am looking at the RX with AWD with the Navigation System with Backup Camera Package with Additional Options.

    With myself trading in my sante fe, and already having a lexus what do you think a good lease price would be around?

    ZIP CODE IS 11554 (East meadow new york)
  • thecat333thecat333 Member Posts: 2
    I am in the market for a 2013 Lexus RX350, MSRP is $47500. I am looking at leasing vs buying and when looking at the other posts in this forum I'm not getting the same math. The lease options I'm being offered for purchase price of $45000, 36 mo, 12k miles with 0 down is $686/mo. What is reasonable for this MSRP or purchase price and what am I missing here? Are there specials they are not letting me in on?? Thanks in advance!
  • chas0215chas0215 Member Posts: 40
    edited October 2012
    I am in NYC metro area. In August 2012, Lexus had a sales event (there will be another one in November through the holidays). Not sure if they are offering anything special right now. In August I leased a 2013 RX350, MSRP $49505, 27 mos but only 26 payments since Lexus made the first payment, 12K/yr, $0 down for $635/mo. (taxes included). The only thing I paid out of pocket was DMV fees. Looks like you can definitely do better than $686/mo. Shop different Lexus dealers and/or, if possible, wait until November for a much better deal. Hope this helps.
  • thepostmanthepostman Member Posts: 49
    Car_man

    Do you know what the October rates are for 2013 RX 350?

    36mo/10k

    Thanks
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go Mr. Postman. Lexus Financial Services' October 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 .00125 and 61%, respectively for consumers who qualify for its top credit tier.

    Car_man
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  • dz17dz17 Member Posts: 2
    Car Man,

    What are the money factors and residuals for the Lexus RX 350 F Sport?

    Thanks!

    -DZ
  • seerenoseereno Member Posts: 1
    Long time looker, first time post!

    I am jumping into the leasing world on my next car, lexus RX, which should happen within the next 3 months. I have never leased a car before but feel comfortable in the negotiation process of final purchase price. My questions is what are good and bad money factors and Residuals for the 2013 RX?

    I have heard October rates are not great, would we expect Novemeber to be better or hold out for the Decemeber to Remember event?

    I figure I am looking for an RX in the 49k MSRP range and then negotiate down from there. Would like to do a zero down lease if possible.

    I am in northern California, east bay, so any direction on dealers to start at would be much appreciated.

    Thanks in advance for the info.
  • lookn4leaselookn4lease Member Posts: 11
    Hi - I've leased several cars and have learned one thing: The dealer can manipulate the numbers so that no matter what you negotiate for the price of the car, he will get the highest payment possible. There is no reason to negotiate anything other than the monthly payment (and do not pay anything as a downpayment if possible). The best way to do this is get several dealers involved - go through their internet sales people and do everything by email. Start by contacting 6 dealers with the exact model you want, and when you hear from them, be clear that you will not negotiate in person. 2 or 3 will refuse to deal with you, leaving 3 or 4 who will. Work them down on the monthly payment and then make them all your rock bottom offer that you think you can get. Good luck!
  • genapolgenapol Member Posts: 2
    Why bother negotiating the cost of a car you intend to lease...you are leasing (renting), not buying...if all the cars you want (rx 350 for example, with the particular options you desire) at the different dealers are furnished equally (and that is within your power to accomplish), the real cost is your monthly payment...apples to apples...the net cost of the car is not relevant, just like knowing what Hertz paid for the car you are renting is of no use to you. ...what's the daily rent? what's the monthly lease? That's what's important.
  • pumpsterpumpster Member Posts: 1
    Hi Car_man,

    Just leased a 2013 RX 350 AWD for 48 months/ 10k miles per year

    Unfortunately I did not negotiate the MSRP of $45896

    I am paying $599 / month, zero down.

    Money factor was 0.00125 and residual was 50%.

    Is this residual way off for a 48 month lease?

    Thanks,

    Pumpster
  • blastphemyblastphemy Member Posts: 34
    Hi, Car_man - when you're able, please post the money factor and residual value for a 2013 RX 450h AWD with 15,000 miles and both 24-month and 36-month terms. Thank you! I'm looking at a fully-loaded model that's about $58,000 before tax.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi dz17. Lexus Financial Services' October buy rate lease money factor and residual value for a 36-month lease of a 2013 RX 350 F-Sport with 15,000 miles per year are .00125 and 55% for consumers who qualify for its top aka Tier 1+ credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome seereno. If I was in the market for a new Lexus I personally would wait until mid- to late November when Lexus will likely introduce its annual "December to Remember" sales event. There is a very good chance that its lease program will be more attractive then.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Pumpster. The money factor and residual value that the dealer used look good. The only thing that you should have done differently is negotiate your vehicle's selling price.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go. Lexus Financial Services' October buy rate lease money factor and residual value for a 24-month lease of a 2013 RX 450h AWD with 15,000 miles per year are .00125 and 66% for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical 36-month lease are .00125 and 56%.

    Car_man
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  • jcbnbknyjcbnbkny Member Posts: 1
    Carman,

    I was just offered the following for a Lexus RX 350 - 2013. Wanted to know your thoughts

    15000, 36 months, 0 down, 58% residual, .00125 money factor. MSRP is $49,824 for

    586 / month (including taxes)

    It seems like a pretty solid deal, and was going to wait until the December to Remember event, but was curious on your thoughts as this worked out to approx. $4,544 under MSRP (9.12%)

    Thanks for your help and helping all of us on this site.

    Jcbnbkny
  • insidecarbuyinsidecarbuy Member Posts: 95
    I helped my friend come out of his 2010 Lexus IS250AWD lease that he was 13,000 miles over his allowed mileage but it was a very clean car. We got the dealer to buy his car for the buyout price so he wouldn't have to pay any over mileage (would have been an additional $3,250 for over miles).

    We got a 2013 RX350 loaded with just about every option - M.S.R.P. of $49,907 and after the loyalty incentive of $1,000 got the selling price down to $43,100. Seems like the 27 month lease was the best way to go with .00125 money factor and 68% residual. Monthly payment of $473.90 per month (tax included) and just 1st month, bank fee and DMV out of pocket. See the details of the lease below but he was extremely happen with this deal!

    Customer Name: Inside Car Buying LLC WD Deal ID: 638
    Sale Vehicle: New 2013 LEXUS RX 350 AWD 9424 4dr Wgn w/AC , Automatic , Odom: 0


    Payment Details
    Term 27
    Base Payment 473.90
    Total Payment 473.90
    Purchase Option 33,936.76
    MSRP 49,907.00
    Est. Miles Per Year 12,000
    Excess Mileage Charge 0.25



    Amount Due at Signing

    1st Month Payment 473.90
    Acquisition Fee 700.00
    Fees & Insurance 384.00
    Total Inception Fees 1,557.90

    Total Cash Required on Delivery 1,557.90


    Tax Information
    Customer State: New York Customer County: WESTCHESTER
    Type Amount Rate Paid
    Cashdown Tax 57.16 7.3750 Capped
    Upfront Tax 941.33 7.3750 Capped

    Fee Information
    Description Amount Paid
    Reg 286.50 Upfront
    Insp 10.00 Upfront
    Title 12.50 Upfront
    DocFee 75.00 Upfront
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