2015 Lexus RX 350 Lease Questions

Michaell

jane76 said:

Michaell, thank you very much. Unfortunately our dealer was trying to convince us that 0.0009 is for tier 1+ or something.

It is .. we only quote top tier numbers. Do you know what tier you are in?

jane76

Michaell said:

jane76 said:

Michaell, thank you very much. Unfortunately our dealer was trying to convince us that 0.0009 is for tier 1+ or something.

It is .. we only quote top tier numbers. Do you know what tier you are in?

What's the minimum score for Tier 1+? I've seen 720+ in one of the lexus topics here on the forum.
Can you provide money factor for Tier 1 by any chances?
Thanks again.

kyfdx

jane76 said:

Michaell said:

jane76 said:

Michaell, thank you very much. Unfortunately our dealer was trying to convince us that 0.0009 is for tier 1+ or something.

It is .. we only quote top tier numbers. Do you know what tier you are in?

What's the minimum score for Tier 1+? I've seen 720+ in one of the lexus topics here on the forum.
Can you provide money factor for Tier 1 by any chances?
Thanks again.

Tier 1 is .0010 and Tier 2 is .00135

720 for Tier 1+
690 for Tier 1
670 for Tier 2

jane76

kyfdx, thanks so much. Definitely Tier 1+ but looks like was quoted worse than Tier 2

travispete1

Can you explain? Is that the MF on the RX? I thought the current buy rate was .00090

Michaell

travispete1 said:

Can you explain? Is that the MF on the RX? I thought the current buy rate was .00090

.00090 is the base rate on the RX this month for tier 1+ customers.

Dealer can inflate the MF for extra profit, and if you are not tier 1+, the MF goes up as well.

emc2015

Hello! Can anyone give me feedback if this is a good quote for a 2015 Lexus Rx 350 FWD. 

MSRP $49,243
Selling price $44,500
Residual $30,000
36 months / 30k miles 
$486.12 monthly pre tax which will bring it to $525.01 after CA taxes 
No down No security deposit 

I would greatly appreciate any feedback. 

Thank you! 

Michaell

emc2015 said:

Hello! Can anyone give me feedback if this is a good quote for a 2015 Lexus Rx 350 FWD. 

MSRP $49,243
Selling price $44,500
Residual $30,000
36 months / 30k miles 
$486.12 monthly pre tax which will bring it to $525.01 after CA taxes 
No down No security deposit 

I would greatly appreciate any feedback. 

Thank you! 

Using the base MF of .00090 and a residual of 61% with your MSRP and selling price, I get a pre-tax payment of $468.80/mo.

Ask the dealer what the MF is in their quote; also, ask for the "net cap cost" - it might be different from the selling price. Ask them to explain how they calculated the net cap cost.

mitch360

Michael

I know that you recommend not putting money upfront for cap cost reduction in case car is totaled or stolen. Is there any advantage or disadvantage to paying taxes upfront in New York as regards to car being stolen or totaled? Thanks.

kyfdx

mitch360 said:

Michael

I know that you recommend not putting money upfront for cap cost reduction in case car is totaled or stolen. Is there any advantage or disadvantage to paying taxes upfront in New York as regards to car being stolen or totaled? Thanks.

It's really the same concept.. If you pay $1500 in tax upfront and your car is totaled shortly afterwards, I don't think the state is going to rebate your tax.. But, if you roll that amount into the CAP cost, the state still gets their money upfront, but if the car is totaled, that money is no longer tax... it's just part of the lease payoff ,and GAP insurance takes care of any shortage..

blue87

Hi,

MSRP $49,253
Selling price $44,281.06
Residual $29,551.06
36 months / 36k miles
$567.72 for 35 months after taxes ($555 + $12.72(for wear and tear insurance)).
$1000 rebate covers first month and fees.
$0 down

How would you rate this deal?

Thanks in advance for any feedback!

kyfdx

blue87 said:

Hi,

MSRP $49,253
Selling price $44,281.06
Residual $29,551.06
36 months / 36k miles
$567.72 for 35 months after taxes ($555 + $12.72(for wear and tear insurance)).
$1000 rebate covers first month and fees.
$0 down

How would you rate this deal?

Thanks in advance for any feedback!

What is the CAP cost, after adding in acquisition fee, etc? Does it include tax? If so, what state and tax rate?

blue87

Hi kyfdx,

The gross CAP cost is $45,776.06.
State: CA
Tax rate is 9.25%

kyfdx

blue87 said:

Hi kyfdx,

The gross CAP cost is $45,776.06.
State: CA
Tax rate is 9.25%

I get $518/mo.+tax.. or about $566/mo..

That's using the base MF of .00090 and residual of 60%.

Looks pretty good.

flyfishmi

Quoted the following deal by a Detroit, MI area dealer on a 2015 RX F Sport 36 month/15K lease:
MSRP $53957
Dealer Discount $3300
Rebate $1000.00
Doc Fee $200.00
Tax $135.82
Plate fee $23.00
Taxable fees $24.00
Net Sell Price: $50,039.82

$1000 Down payment
$3000--5 MSDs

Money Factor: .00090

Total Monthly Payment: $600 (includes MI 6% sales tax)

Plugging all data into the lease calculator gives me a payment of $572.40. Not sure if I'm getting a good deal on this one. Thoughts?

Michaell

flyfishmi said:

Quoted the following deal by a Detroit, MI area dealer on a 2015 RX F Sport 36 month/15K lease:
MSRP $53957
Dealer Discount $3300
Rebate $1000.00
Doc Fee $200.00
Tax $135.82
Plate fee $23.00
Taxable fees $24.00
Net Sell Price: $50,039.82

$1000 Down payment
$3000--5 MSDs

Money Factor: .00090

Total Monthly Payment: $600 (includes MI 6% sales tax)

Plugging all data into the lease calculator gives me a payment of $572.40. Not sure if I'm getting a good deal on this one. Thoughts?

Hmm, something doesn't add up. Using the MSRP and "net sell price" you've provided with the 58% residual and .0009 base MF, I get a pre-tax payment of $593.89/mo.

You state that you are making 5 MSDs, that should lower the MF from .0009 to .00045 - if I do that, the pre-tax payment drops to $557.29.

Is the $1000 down used to cover the up front costs like acquisition fee?

flyfishmi

Thank you for the response. Yes, the $1000 will cover first month payment and various up fronts. Your $557.29 pre-tax payment calculates to $590.72 after tax. It appears the dealer is about about $10 off in their quote of $600. Could be a money factor or residual difference that is causing the problem.

Michaell

flyfishmi said:

Thank you for the response. Yes, the $1000 will cover first month payment and various up fronts. Your $557.29 pre-tax payment calculates to $590.72 after tax. It appears the dealer is about about $10 off in their quote of $600. Could be a money factor or residual difference that is causing the problem.

The dealer is not allowed to modify the residual, so it's more likely that the MF has been slightly inflated for a bit of extra profit.

grmax5

I am currently leasing a 2013 RX 350 AWD and I am talking with a dealer in Toledo, OH about turning in the vehicle early to upgrade to a 2015 RX 350. I know that Lexus is redesigning the RX 350 for 2016 and that it is supposed to be shown in NY in April. Do you think that the incentives/rebates on the 2015 will get better after the announcement in April? Will the dealers be more motivated to sell off the 2015? Thanks for your help!

Michaell

grmax5 said:

I am currently leasing a 2013 RX 350 AWD and I am talking with a dealer in Toledo, OH about turning in the vehicle early to upgrade to a 2015 RX 350. I know that Lexus is redesigning the RX 350 for 2016 and that it is supposed to be shown in NY in April. Do you think that the incentives/rebates on the 2015 will get better after the announcement in April? Will the dealers be more motivated to sell off the 2015? Thanks for your help!

I suppose that's possible, but the good deals will really happen when the new model is released later this year, not shown to the press.

upupandaway7

Hello
1) for 2015 in Nj, what is the current best lease deal?
Getting same as true car numbers for awd 
they r just quoting $399/month $2,999 DUE AT SIGNing but don't have the msrp
who is the best and fair dealer in nj?
2) when do we know which month is best ... Is it based off price reduction from msrp?

thanks in advance for such a great forum

Michaell

upupandaway7 said:

Hello
1) for 2015 in Nj, what is the current best lease deal?
Getting same as true car numbers for awd 
they r just quoting $399/month $2,999 DUE AT SIGNing but don't have the msrp
who is the best and fair dealer in nj?
2) when do we know which month is best ... Is it based off price reduction from msrp?

thanks in advance for such a great forum

The best lease deal is the one you negotiate yourself. Read back a few pages on this discussion to see what others are paying. The national deal ($399/mo with $2999 down) is just OK.

Hard to say when the best time for a lease is ... it all depends on the manufacturer and how many units they want to move.

neesh319

2015 Lexus 350 F-Sport AWD.

12k year.

Can I get MF and Residuals for 24, 27 , and 36 months?

Michaell

neesh319 said:

2015 Lexus 350 F-Sport AWD.

12k year.

Can I get MF and Residuals for 24, 27 , and 36 months?

.00090 MF for all terms

69% / 67% / 60% for 24/17/36 and 12,000 miles

btiger14

Dealer in Florida not including first month payment in start up costs -- seems strange. Instead they have that darn dealer fee included along with tags, title, etc.
Is Lexus waiving first month payment for 2015 RX350 lease?
Dealer is quoting price/cap cost of $46489 on MSRP of $49989 on RX350 FWD. Seems like there are much better deals being quoted in this forum.

kyfdx

btiger14 said:

Dealer in Florida not including first month payment in start up costs -- seems strange. Instead they have that darn dealer fee included along with tags, title, etc.
Is Lexus waiving first month payment for 2015 RX350 lease?
Dealer is quoting price/cap cost of $46489 on MSRP of $49989 on RX350 FWD. Seems like there are much better deals being quoted in this forum.

$1000 lease cash, but they aren't waiving the 1st payment, this month.

travispete1

Closed on a great deal today, very happy

Msrp 50403
2015 RX 350 fwd
1300 drive offs inc first mo
400/mo incl tax
27 mo/10k
9 MSD=3600 in deposits (if you have the cash it saves you a ton of money and gives you an effective return that is far better than a bank)

Great deal, great dealership

kyfdx

Congrats! Nice job

travispete1

Does anyone know the new MF and residuals (10k), and lease cash for Feb? Did it change from Jan?

Michaell

travispete1 said:

Does anyone know the new MF and residuals (10k), and lease cash for Feb? Did it change from Jan?

The Lexus residuals are good until 3/31/15; the MF through today (2/2/15). We won't have the February MF until later this week.

mjburdei

Hi everyone,

We received the following lease quote for a 2015 RX350 - grateful for your thoughts:

MSRP - $49,253
Selling price - $43,000
Residual - 62%
MF - .0009
Drive off - $1000

$485 w/ tax (36months, 12k miles)

Many thanks!

Michaell

mjburdei said:

Hi everyone,

We received the following lease quote for a 2015 RX350 - grateful for your thoughts:

MSRP - $49,253
Selling price - $43,000
Residual - 62%
MF - .0009
Drive off - $1000

$485 w/ tax (36months, 12k miles)

Many thanks!

With your numbers, I'm showing $412.38/mo before tax. What state is this - hard to get to $485/mo unless you live in Texas, Maryland or Georgia, the three states that tax the entire selling price.

mjburdei

Thanks - state is California.

Michaell

mjburdei said:

Thanks - state is California.

Where only the payment is taxed.

Ask the dealer for the "net cap cost" and have them explain how they arrived at that number. My guess it's quite a bit higher than your selling price.

mjburdei

Thanks - I'll find out the net cap cost and have them break it down for me.

mjburdei

It turned out the lease was only for 10K miles instead of 12K, so it fell through. Thanks for your quick response!

btiger14

Anyone know if Lexus still has the $1000 cash promo in Feb as they had in Jan.

Michaell

btiger14 said:

Anyone know if Lexus still has the $1000 cash promo in Feb as they had in Jan.

Yep ... I'm showing $1000 + $500 area lease cash.

papak000

Can you please suggest if this is a good lease offer or what do I need to negotiate on? First timer... help much appreciated.

1. Make, Model, Trim, Body Style = 2015 RX 350 5-DOOR SUV 4X4
2. State (MF and residuals may vary by region) = California
3. MSRP = $50,898.00
4. Negotiated Selling Price or Net Cap Cost = $45,395 - $1,000 rebate = $44,395
5. Lease Term and Miles per Year = 36K/Year
6. How much money is due at signing and breakdown of same (taxes, fees, down payment, etc.) = $3000 (incl. first month payment, license and $700 lease fees)
7. Offered Monthly Payment = $459 plus tax + 9.25% tax = $501
8. Residual Value = 60%

Michaell

papak000 said:

Can you please suggest if this is a good lease offer or what do I need to negotiate on? First timer... help much appreciated.

1. Make, Model, Trim, Body Style = 2015 RX 350 5-DOOR SUV 4X4
2. State (MF and residuals may vary by region) = California
3. MSRP = $50,898.00
4. Negotiated Selling Price or Net Cap Cost = $45,395 - $1,000 rebate = $44,395
5. Lease Term and Miles per Year = 36K/Year
6. How much money is due at signing and breakdown of same (taxes, fees, down payment, etc.) = $3000 (incl. first month payment, license and $700 lease fees)
7. Offered Monthly Payment = $459 plus tax + 9.25% tax = $501
8. Residual Value = 60%

I'm getting $452.33/mo before tax, and $494.18 after.

I would get a full accounting of the $3000 due at lease signing.

btiger14

You mention $1000 + $500 Area Lease Cash. I assume that is a region program would you know what areas the $500 applies to?

Michaell

btiger14 said:

You mention $1000 + $500 Area Lease Cash. I assume that is a region program would you know what areas the $500 applies to?

Sorry, I don't have that information. 

btiger14

Looking at using MSD's for first time. how much does each MSD lower the money factor. Say you are starting with current money factor of .0009 and making (6) msd's what would the new MF be. Thanks.

Michaell

btiger14 said:

Looking at using MSD's for first time. how much does each MSD lower the money factor. Say you are starting with current money factor of .0009 and making (6) msd's what would the new MF be. Thanks.

I believe the Lexus MSD program allows 9 @ .00008 each. 6 MSDs would result in a new MF of .00042.

btiger14

It is my understanding that the MSD amount is calculated on the monthly payment/before tax. So is it based on the monthly payment calculated before the MF reduction from the MSD; or the reduced monthly payment. I have looked for lease calculators which include MSD but no luck. Thank your very much for all your help.

Michaell

btiger14 said:

It is my understanding that the MSD amount is calculated on the monthly payment/before tax. So is it based on the monthly payment calculated before the MF reduction from the MSD; or the reduced monthly payment. I have looked for lease calculators which include MSD but no luck. Thank your very much for all your help.

I believe - but don't hold me to it - that it is the reduced monthly payment that is rounded up to the nearest $50 that serves as the deposit amount.

njt72

In process of leasing a Lexus RX 350 through a broker. We're in NJ. Info I received today is:

30 months/7,500 miles
MSRP: $50,434
Monthly payment: $462.32
Lease End Purchase Option: $33,790.78

Due at signing:
First month's payment: $462.32
Bank Fee: $700
DMV Fee: $350
Upfront Taxes: $1293.06
Total: $2,805.38

I know I am missing info but curious if this sounds like a decent deal or let me know what other info I need. Thank you!

hazmarty

Could you please provide February RX350 AWD Money Factor, Residual, and any incentives for New York. Would like numbers for 36 month/15K miles per year lease. Thank you.

stever

Recent buyers and current shoppers, please take a moment to help us out on this quick poll:

What stage of the car buying process are you in right now?

Thanks!

Michaell

hazmarty said:

Could you please provide February RX350 AWD Money Factor, Residual, and any incentives for New York. Would like numbers for 36 month/15K miles per year lease. Thank you.

.00090 and 58%