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2013 and earlier Lexus RX 350 / RX 450h Lease Questions
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Comments
If I'm right, then final sales price minus residual, should be the amount that you are basically financing.
So, 44635-29898 = 14373.
at 2.64% per year, that would be $415.71 per month.
If I'm wrong, can someone clarify this for me?
What's financed? The full CAP cost..
So, the finance charges are applied to an average of the CAP cost and residual, not the difference...
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It would be extremely helpful if someone (carman?) could use some sort of base guideline with a half a dozen variables to use for examples that are pretty much the standard.
I'd like to lease a new car, but given the reading of these forums, numbers are thrown in, questions are asked, "is this a good deal, is that a good deal, what should I pay, etc., etc.", and no consistency is available.
What should be the expectations? Should I go to 4 different dealers, get my offers, post here, go back, ask, haggle, or find the best possible sweet spot with some sort of base calculator that you can plug the variable into. Much like what the finance guys use, right? Can this be done? Can it be provided? It sure would make a LOT of people very happy!
Car_man
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Lexus Financial Services' May buy rate lease money factor and residual value for a 36-month lease of a 2013 RX 350 FWD with 12,000 miles per year are .00075 and 58% for consumers who qualify for its top credit tier.
Car_man
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Car_man
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So how are lease monthly payment calculated ?
Car_man
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The residual value for a lease with 10,000 miles per year would be 1% higher.
This truck's lease payment will vary depending upon what its selling price is. The vehicle that you're interested in probably has a spread of around $3,000 or so between its full MSRP and its dealer invoice price. Add the $1,500 cash incentive to that and you have around $4,500 to play with in your negotiations. Let's say that you are in an area that has a decent level of competition and you are able to negotiate a $4,000 discount.
According to my calculations, if you were to lease a 2013 RX 350 AWD that has an MSRP of $49,190 and a selling price of 45,190 through Lexus Financial Services right now for 36-months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $519.
Lowering the mileage allowance to 10,000 miles per year would drop the payment to around $505.
Car_man
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Do you know if F-sport include "tow prep package" which has heavy-duty alternator & heavy-duty radiator as standard package or can I order it ?
do you have the MF and RV for the 27 month leases on an RX 350 AWD in the NE region?
thanks!
I have a curve ball for you.
Assuming that CPO cars lease the same as new cars, do you have the MF and residual #s for 2010 and 2011 RX 350s (AWD)? Please assume tier 1+ credit tier, 3 year and 12k/year.
If CPO cars are leased using a different formula, any info you have on how to calculate the lease price from dealer inputs (to see where they're getting their profit) would be appreciated.
I'm guessing that depreciation starting from year 3 or 4 is considerably less than it is in year 1 or 2, so how that impacts lease calculations would seem to be important.
Thank you,
Badger1994
You speak of the spread between full MSRP and its dealer invoice price. What is that spread for the 450h? They still have the $1,500 cash incentive on a lease until Monday I believe.
MSRP $55745 - sale price $53245(includes a rebate) + adds=$55854
Dealer offered to turn it in 6 months early (lease payment is $599), swap it for a new one with just a tad more options, same $599 for 33 months, 12k miles per year (original lease was 36 months, 15k miles per year).
I'd probably push for the 15k per year to be equal, however, I have a few questions.
The 1st is if I go online, and "build" my RX, I can with Heads Up Display, Heated Steering Wheel, Remote Start, yet none can be found anywhere in the country via dealer locator....is there any reason any dealer wouldn't order a few here and there, I don't understand why I'd have to order one "special" and potentially lose out on any 'special' offers, deals, spiffs, etc., and be forced to take what a dealer has on the lot......as well as I'm told, "Lexus only has 2 trim options for the 450H"? What? I cannot get the car I want if I'm willing to pay? (Sure, buy it, order it, wait, but come on, none are EVER ordered?) I cannot even get grey leather interior, only black or beige!
So, in addition to my questions, here are the numbers, does the Money Factor look a bit high? What should I ask to be hammered out?
$57335 MSRP
$52,835 CAP cost - $1500 = $51,335
$54,588 invoice
59% residual
.00075 mf
$599 1st mo
$329.50 NJ mv
$700 bank fee
$349 doc fee
$1731 NJ sales tax
$3708.50 total
The money factor for a 27-month lease would be the same, but the residual value would be 62%.
Lexus is providing a $1,500 cash incentive on leases of this truck right now.
Car_man
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The main difference between leasing a new vehicle and a used one is that used vehicle residual values are usually dollar-based rather than a percentage like new vehicle residuals are.
Car_man
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The $1,500 cash incentive is still available on leases of this model in June.
Car_man
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http://www.edmunds.com/lexus/rx-350/2013/car-incentives.html?style=200419751&irr- _section=customer_rebates_irr
While there is not loyalty cash on this truck in certain regions, I don't think that the Midwest is one of them...at lease I haven't heard about it.
Car_man
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At the time I was looking at the very link, only Military discount was showing.
Quick question regarding local lease deals here in Chicago. They advertise one lease: RX350 AWD with MSRP $44,625 for $399 per month with $2699 down payment, 10k miles per year, including 1st payment.
I am having a hard time figuring out which numbers they are using in this calculation of $399 per month. Are there any additional fees that I am not aware of such as acquisition fee?
can you clarify what the June residuals and money factors are for 27 month leases for the navi and non-navi AWD RX350 are?
Thank you in advance!
1. When is the best time to lease a new 2013 RX 350? Some people tell me 7/4 and some say wait until August when dealers give out certificates. We got our car in 2011 with a price $3000 below than the invoice since the dealer gave out 2 certificates ( $500/each). I believe this was a very good deal and would love to get at least the same deal.
2. Is the deal better in Northern CA or Southern CA? As mentioned above, we have a chance to travel down to Southern CA and we can return our car and get a new lease there if the price is better.
3. Want to find out if dealers can waive charges on excess miles on the old car. Please share your experiences. How many excess miles are acceptable and ca be waived?
4. We have some obvious scratches on the back of car from our garage door. Want to find out if Lexus will charge us on this. Please share your experience.
Thanks,
I'm currently working a deal and so far it is looking good:
2013 Lexus RX 350
MSRP 49275
Sale price 45080
1500 lease rebate = 43580
Now they are trying to tell me the best they can do is .00155 on the MF. Is .00075 still the buy rate? If so, I will tell them that they can mark it up a little but certainly not almost double.
Thanks for your help. I appreciate it.
Car_man
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Car_man
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Car_man
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Car_man
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This may explain my confusion.
I contacted several dealers and lease brokers, and they all suggested a 27 month lease as the sweet spot for the RX350 this month (I am open to a longer lease, up to 39 months).
I received a few quotes that appear to be at or near invoice, and based on the info from one of your previous posts I was using a MF of 0.00075 and residual of 67% for a 10k/year, 27 month lease.
I also received several quotes which "don't make sense" - i.e. it appears I would be getting the car about $1,000 under invoice after the $1,500 lease cash (ex. $1,500 total drive off, $484/mo including PA sales tax at 9%; also $1,500 total drive off, $460/mo; both quotes are for a car with an MSRP of $47,300).
I apologize for asking the question again, but it looks like you provided the residual and MF for a 24 month lease (not 27). Can you confirm what the 27 month MF and residual are for a non-navi AWD model in the northeast (NYC, Philadelphia areas)? Also, do you have access to MF and residuals for other lease durations (i.e. 33, 36, 39 months) and if so, is Lexus providing support for any of those as well?
Thank you as always!
The money factors for this vehicle are the same for all terms up to 48-months.
Car_man
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Are you saying the residual can be altered by the dealer?
You have mentioned in your previous post the MFs are either 0.00075 or 0.00060. Which MF will apply in NYC and/or Philadelphia, PA?
Thanks again!
Car_man
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Car_man
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I visited a Chicago Lexus dealership today and they showed me their invoice. In it, they have $710 advertisement fee tacked on to the total and was told this was not negotiable. Also, I talked to them about leasing and was told there is another $700 in acquision fees coming from Toyota/Lexus Financial and that wasn't negotiable, either.
Is that normal or is this just fluff added by the dealership?
By the way, they did confirm 59% residual and 0.00075 money factor available on '13 models with 3yr/10k miles per year lease term.
With a lease, it is normal for the ulitmate objective to be the lease payment. Most people lease, at least in part, because of the lower payment when compared to a purchase. Without the residual value it is not possible to compute the correct lease payment. Astute leasees should not rely on a dealer F&I person's lease payment computation without verifying the payment. Reality is not all F&I people are above cooking the books a bit.
I have flexibility, just want to make sure I can time this right.
Thanks and keep up the good work on the board.
I went through a number of messages here and realized I do not know the terminology, like MF, money factor 0.00075
I understand what MSRP, residual value, payoff amount are.
What should I know to not being overplayed by the dealer? (by much)
What is the reasonable price for 39 and 27 months lease?
If I want to pay nothing down, what is the best monthly payment and how much should I pay when take the car from the dealer?
Many thanks in advance.
For example, Lexus says their current offer for the RX450h FWD is $519 for 36 mos with $5,244 due at signing. MSRP $55,745. With this available lease cash (assuming it is in fact available), does it become $519 for 36 mos with $3,744 due at signing?
I did not have luck negotiating with this Lexus dealer several years ago. Is it worth trying, or is this listed deal the best I'm going to do? If it's worth negotiating, can you please give the MF, residual, and cap cost for this RX450h 36 mos lease and I'll work on beating them down on the cap cost. Thanks, these forums are a real service to buyers.
Also, it looks like the MF is 0.00075 and the residual is 54%. So using the values they show in the LFS lease terms, MSRP = $55,745 which would make residual = $30,102. $5244 due at signing, if $519 of that is the first payment and $700 is the acquisition fee, that would be a $4025 cap cost reduction payment.
I'm having a hard time getting these numbers to work in a lease calculator. If I use:
Term = 36 mos
MF = 0.00075
Residual = $30,102
Cap Cost Reduction = $4,025
Then I have to drop the sales price all the way to $50,750 to get the payment to come out to $519/mo. That seems to be about $2,000 below the TMV prices that I've seen ($3,500 below if you include the "lease cash" into the calculations), so am I doing something wrong? I want to be able to calculate this stuff on the fly for when they start changing things around on me. Thanks for any insight.
I am coming out of a 2010 RX350 and looking to go into a 2013 RX350AWD. I received a quote from from my current dealer today of $612 per month with just fees and taxes out of pocket, about $2,800. That was on a car with an MSRP of $49,915 for 27 months and 12,000 miles per year. Do you think its a good deal. Its only $20 more per month tan what I am currently paying for a 2010. Appreciate any help...
Capitalized Cost ($55,345) + LFS Acquisition Fee ($700) = Gross Capitalized Cost ($56,045)
Gross Capitalized Cost ($56,045) - Cash Incentive ($1,500) - Capitalized Cost Reduction ($5,244) = Adjusted Capitalized Cost ($49,301)
Lease calculation values:
Adjusted Capitalized Cost: $49,301
Residual Value: $33,447 (60% MSRP of $55,745)
Money Factor: 0.00095
Term: 36 mos
Monthly Payment: $519 (~$535 with tax)
Additional costs $618 in dealer fees and tags.
They are only taking $400 off of MSRP for this deal, so I countered and will let everyone know if they bite. A few things to notice about this, the $1,500 lease cash is already built into the $519/mo deal, as is the Lexus Financial Service $700 acquisition fee. Also, the first months payment is not included in the $5524 down, that is all capitalized cost reduction. I was hoping the $1,500 could be applied separately to sweeten the deal, but no dice.
It's actually really easy to look at some different scenarios. Go to this link: lease calculator and then in the lease terms column enter $49,115 (that is the MSRP - $1,500 cash incentive currently offered + $700 acquisition fee). Put $2100 into the down payment field. Then play around with money factors (some known current values are 0.0006, 0.00075, and 0.00095). For residual, I've seen values from 54% to 60%. The worst of the MFs is 0.00095 and the worst residual is 54%, plug those in. By the way, residual is always percentage times the MSRP $49915. The absolute worst case gives a payment of $628/mo. You can then put values in the "Trade-in Value" box until the payment drops to $599/mo, and that will be how much they are taking off of MSRP. For 54%/0.00095 it is $1000 (maybe not a terrible deal but it is an unlikely combo). For 54%/0.00075 it is $500.
As you can see from my previous post, in my area the combination is 60%/0.00095 for an RX450h. Again, these probably are not your values, but if they were then you are actually paying about $2,000 over MSRP!
I think the main point I have for you though is that knowledge is power. We can give you some potential values, but you should demand that your dealer be square with you and give you the exact MF and residual value. You wouldn't buy a new car if they just gave you the MSRP and a payment without them telling you what the final sales price and APR are would you? Well, that is exactly what you are doing with this lease. I think it is good to come on here and ask what current rates are so that you can go into the negotiations prepared, but once you are in negotiations and getting offers, you need to tell the dealer to be straight with you and let you know what the numbers are. That's the ONLY way you can know if you are getting a good deal or being screwed. If they won't give you these values then walk, but from my experience if you show them that you are sophisticated enough to ask for them, they will provide them and also stop treating you like a potential sucker. And again, from my experience, if they won't give them to you, it's because they are hiding something and you are likely being screwed. Good luck.
Capitalized Cost ($54,070) + LFS Acquisition Fee ($700) = Gross Capitalized Cost ($54,770)
Gross Capitalized Cost ($54,770) - Cash Incentive ($1,500) - Capitalized Cost Reduction ($5,244) = Adjusted Capitalized Cost ($48,026)
Lease calculation values:
Adjusted Capitalized Cost: $48,026
Residual Value: $31,775 (57% MSRP of $55,745)
Money Factor: 0.00095
Term: 36 mos
Monthly Payment: $519
Unfortunately, the new cap cost (sale price) of $54,070 leaves a lot less negotiating room than what I had when it looked like it was $55,345.
In any case, they accepted my sale price offer which would have made the deal work for me with the 60% residual, but they also left the $1,500 cash incentive out of their calculations. Combined, that that made the payment a whole lot different than what I offered (over $50/mo).
I countered again with what really is my final offer, it would put the $1,500 back into play and require them to take an even lower sale price. I'm not sure if they can make it work (sale price would be a lot less than TMV), but if not oh well. I think they might be able to reduce their outrageous dealer fee and maybe there are other end of month incentives that make them jump. I'll report back on the final offer and whether it is accepted or not.
Capitalized Cost/Sale Price ($52,055) + LFS Acquisition Fee ($700) = Gross Capitalized Cost ($52,755)
Gross Capitalized Cost ($52,755) - Cash Incentive ($1,500) - Capitalized Cost Reduction ($400) = Adjusted Capitalized Cost ($50,855)
Lease calculation values:
Adjusted Capitalized Cost: $50,855
Residual Value: $31,775 (57% MSRP of $55,745)
Money Factor: 0.00095
Term: 36 mos
Monthly Payment: $609 ($627 with 3% NC tax)
Due at closing = $1,645 = $400 Cap Cost Reduction (down payment) + $627 first months payment + $618 dealer fee and tag
The deal I offered last night when I thought residual was 60% was a sale price of $52,900 which worked out to a $617 payment (with tax) and $0 down payment. The 57% residual changed the math by $1,672, I pitched in an extra $760 ($400 down payment + $10/mo) and they covered the rest of the difference on their end of the deal.
I'm pleased with the deal, $52,055 sale price on an MSRP $55,745 and invoice of $52,261 (Edmunds TMV of $52,696). I got an additional $800 towards the deal from Lexus Financial ($1,500 lease cash - $700 acquisition), plus a good residual and 2.28% equivalent interest rate.
For some reason the dealer is saying that the sale price is $51,755, so they are calculating something differently by $300. No matter though, all the final numbers work out the way I want so I'm happy. The dealer also seems good with the deal, they even pulled the color combo I wanted from a different location and will have it waiting for me Saturday (it was listed on a combined inventory system so I thought it was already there but it was at a sister location). Note: I never set foot in the dealership.