2015 Lexus RX 350 Lease Questions

Michaell

beemerb0y said:

Hi All

I am looking to lease a 2015 RX350 with the following numbers:

MSRP: $49253.00
Discount savings: -$5,499.00
Vehicle selling price: $43,754.00
Document prep fee: $80.00
License/Title: $350.00
tire/battery/VTR fee: $8.75
Other fee: $29.00
Acquisition Fee: $700.00
Tax on collected items: $134.92
Capitalized Initial Fees: $496.89
Total Cap: $45,588.56
Rebate Savings: -$1,996.00
Net Cap: $43,592.56

Base payment: $455.86
Tax: $41.03
Payment: $496.89

Capitalized Initial Fees: $496.89
1st payment: -$496.89
Due on delivery: $0

MF: 0.0009
Miles: 12,000
Residual: 60% (of $49,253)
Residual amount: $29,551.80

Tax: 9.00% (Southern Cal)

This is a true $0 down, $0 drive off deal.

Is this a strong deal, or can I do better?

I currently lease a Lexus IS250 with 2 payments remaining. Not sure if I should hold off on the deal til my current lease is up (last day of April) or turn it in now and pay the 2 remaining payments upfront. Dealer is not certain what the MF and residual and rebates/discounts will be on the RX350 2 months from now.

Also, Im being told that effective March 1, 2015 all invoice prices from the factory go up 1% and it is retro to include everything the dealer currently has on the lot. Anyone know about this?

Thanks in advance.

Base MF and a decent discount from sticker; no wayward fees. Pretty solid deal.

I've heard nothing about invoice prices going up on 3/1.

beemerb0y

Michaell said:

Base MF and a decent discount from sticker; no wayward fees. Pretty solid deal.

I've heard nothing about invoice prices going up on 3/1.

Thanks for the feedback.

What are wayward fees?

Have you seen people get more of a discount from MSRP?

I really prefer to hold off for 2 months til the end of April for my IS250 lease to end, but I'm worried I may not get such a great deal again. I do know the 1st payment waiver ends March 2nd.. Not sure when the $1500 lease cash ends....

Michaell

beemerb0y said:

Michaell said:

Base MF and a decent discount from sticker; no wayward fees. Pretty solid deal.

I've heard nothing about invoice prices going up on 3/1.

Thanks for the feedback.

What are wayward fees?

Have you seen people get more of a discount from MSRP?

I really prefer to hold off for 2 months til the end of April for my IS250 lease to end, but I'm worried I may not get such a great deal again. I do know the 1st payment waiver ends March 2nd.. Not sure when the $1500 lease cash ends....

It's always a gamble to see if the numbers get better the next month.

Regarding transaction prices, I would suggest you read through the last few pages of posts on this discussion to see what kind of discounts others are getting. I don't follow transaction prices that closely as I've never been in the market for a $45,000 SUV.

kodeboyina

Hi,

Do you have the numbers for March for Florida?

Michaell

kodeboyina said:

Hi,

Do you have the numbers for March for Florida?

Not yet - hopefully later this week.

kodeboyina

I am getting a MSRP - 49734 vehicle for $579 including taxes, with true 0 sign and drive for 36 Months 15K miles a year. do you think this is a good deal?

kodeboyina

Residual 58% MF 0.0009

Michaell

kodeboyina said:

Residual 58% MF 0.0009

kodeboyina said:

I am getting a MSRP - 49734 vehicle for $579 including taxes, with true 0 sign and drive for 36 Months 15K miles a year. do you think this is a good deal?

I confirm both the MF and residual. What is the selling price?

kodeboyina

Selling Price : 45150, can I do better on this?

Michaell

kodeboyina said:

Selling Price : 45150, can I do better on this?

Can't help you with transaction prices .. I've never been in the market for a $40K+ luxury SUV. Read back the last few pages of posts to see what others are getting for discounts.

With your selling price, I get a pre-tax payment of $519.49/mo for 36 months. If you are rolling everything into the lease, then that payment will go up.

beemerb0y

kodeboyina said:

Selling Price : 45150, can I do better on this?

Im looking at a RX350 MSRP $49,253 with all the rebates and lease cash, it's down to $41,758

kodeboyina

Just completed the Deal MSRP 51186 Dealer Fees & Tags,Title. 1480

36 Months 15K miles.

Package Details:
Navigation System (NV) - $1,915
Intuitive Parking Assist (PA) - $500
By using visual and audible cues, the Intuitive Parking Assist alerts you when your vehicle is getting too close to other objects.
Premium Package with Blind Spot Monitor (PD) - $2,760
Towing Prep Package (TO) - $245
Comfort Package (CP) - $1,390
Lexus 12-speaker Premium Sound System (EK) -
Includes 12 speakers, in-dash, six-disc CD auto-changer and sound-positioning system. Automatic Sound Levelizer technology helps maintain a constant volume level regardless of vehicle speed.
Wood- and leather-trimmed steering wheel and shift knob (WU) - $330
Highly polished brown walnut or espresso bird's-eye maple wood trim accents, plus a wood- and leather-trimmed steering wheel and matching shift knob.
Preferred Accessory Package: Trunk mat, cargo net & wheel locks (Z1) - $254
Roof rack - cross bars (3T) - $259
Designed to enhance the versatility and convenience of your vehicle, these lightweight yet high-strength aluminum cross bars [*] are corrosion- and fade-resistant, and easily adjustable for changing cargo needs.
Remote engine starter (V4) - $499
Just when you thought your Lexus couldn?t get any more comfortable. The Lexus remote engine starter [*] allows you to start the engine before entering your vehicle and activate your pre-set air conditioner, heater, windshield defogger, and the heated and ventilated front seats (if so equipped).
19-inch 7-spoke aluminum alloy wheels (FT) - $700
These 19-inch 7-spoke aluminum alloy wheels [*] feature a painted Silver finish.
- Window Tinting and Deler options - $470

Final Deal:

0 out of Pocket, 0 First month Payment $535/ month including Taxes

So total 35 Payments fo $535

kodeboyina

Thank you Moderator for the advise and information. BTW what do you think of the prepaid maintainence? they are asking about $900. is it worth it?

Michaell

kodeboyina said:

Thank you Moderator for the advise and information. BTW what do you think of the prepaid maintainence? they are asking about $900. is it worth it?

I don't know the frequency nor the cost of the scheduled maintenance through the dealer, so am unable to comment on the value of the package being offered.

As a point of reference, we declined a similar package for the Subaru Outback the wife and I bought this past weekend.

Audi, on the other hand, adds 1% to the residual value if you buy their pre-paid maintenance program.

beemerb0y

Has the MF and residual changed for March?

kyfdx

beemerb0y said:

Has the MF and residual changed for March?

Residuals haven't changed (Lexus updates residuals quarterly)

We don't have the new money factors for March

beemerb0y

kyfdx said:

beemerb0y said:

Has the MF and residual changed for March?

Residuals haven't changed (Lexus updates residuals quarterly)

We don't have the new money factors for March

Thanks.. so the residual should change on April 1?

When will the March MF be available?

kyfdx

beemerb0y said:

kyfdx said:

beemerb0y said:

Has the MF and residual changed for March?

Residuals haven't changed (Lexus updates residuals quarterly)

We don't have the new money factors for March

Thanks.. so the residual should change on April 1?

When will the March MF be available?

Yes.. new residuals on April 1st

No ETA on March numbers..

smualum2011

While we don't know MF on the RX for March, important to note. Was talking to dealer, they are offering 1% tax credits at least in TX. Brings tax down from 6.25% to 1% here. In addition to $1.5k rebate.

beemerb0y

smualum2011 said:

While we don't know MF on the RX for March, important to note. Was talking to dealer, they are offering 1% tax credits at least in TX. Brings tax down from 6.25% to 1% here. In addition to $1.5k rebate.

Is the 1% tax credit published anywhere? I wonder if its a national promotion or dealer savings.

beemerb0y

kyfdx said:

beemerb0y said:

kyfdx said:

beemerb0y said:

Has the MF and residual changed for March?

Residuals haven't changed (Lexus updates residuals quarterly)

We don't have the new money factors for March

Thanks.. so the residual should change on April 1?

When will the March MF be available?

Yes.. new residuals on April 1st

No ETA on March numbers..

Do residuals tend to go up, or down for the 2nd quarter? I figure they will be needing to clear up space for the 2016 models hitting the floors in a few months, thus driving down the selling prices of the 2015s in stock

beemerb0y

sorry repost.

smualum2011

beemerb0y said:

smualum2011 said:

While we don't know MF on the RX for March, important to note. Was talking to dealer, they are offering 1% tax credits at least in TX. Brings tax down from 6.25% to 1% here. In addition to $1.5k rebate.

Is the 1% tax credit published anywhere? I wonder if its a national promotion or dealer savings.

Sinking feeling is it is a dealer promotion of some sort. I have spoken with two Lexus dealers in my state, and both mentioned the 1% tax credit and insinuated it was coming from Lexus.

beemerb0y

smualum2011 said:

beemerb0y said:

smualum2011 said:

While we don't know MF on the RX for March, important to note. Was talking to dealer, they are offering 1% tax credits at least in TX. Brings tax down from 6.25% to 1% here. In addition to $1.5k rebate.

Is the 1% tax credit published anywhere? I wonder if its a national promotion or dealer savings.

Sinking feeling is it is a dealer promotion of some sort. I have spoken with two Lexus dealers in my state, and both mentioned the 1% tax credit and insinuated it was coming from Lexus.

Which dealers have you contacted?

beemerb0y

kyfdx said:

Yes.. new residuals on April 1st

No ETA on March numbers..

I just emailed a dealer here in Southern Cal. regarding March 2015 MF and residual:

MF 0.0009
Residual for 10k miles are 70% for 24 mos. and 61% for 36 mos.
Residual for 12k miles are 69% for 24 mos and 60% for 36 mos.

In effect at this time: $1500 rebate plus first months' payment complimentary.

Looks like they numbers haven't changed. April will be a coin toss.

Michaell

The tax credit is a Texas thing, as Texas applies sales tax to the entire selling price on a lease.

Can't say I'm surprised that the March numbers are the same; we're still waiting for confirmation.

kyfdx

Agreed.. just in..

.00090 MF, $1500 lease cash, complimentary 1st payment

beemerb0y

i read on clublexus.com someone was able to get $10k under MSRP - anyone here been able to get that?

Michaell

beemerb0y said:

i read on clublexus.com someone was able to get $10k under MSRP - anyone here been able to get that?

That seems too good to be true, in my opinion.

beemerb0y

Michael, thank you very much for answering the numerous questions on the board. You have been very helpful.

I have a question regarding the lease break down the dealer sent me.

I don't understand the part where it says :

Capitalized Initial Fees: $496.89

then later it says...

Capitalized Initial Fees: $496.89
1st payment: -$496.89
Due on delivery: $0

Lexus is waiving the first payment up to $700, any remainder goes to reducing the cap cost.

Is the dealer following that rule, or are they pocketing it any of it?

Here is their quote:

MSRP: $49253.00
Discount savings: -$5,499.00
Vehicle selling price: $43,754.00
Document prep fee: $80.00
License/Title: $350.00
tire/battery/VTR fee: $8.75
Other fee: $29.00
Acquisition Fee: $700.00
Tax on collected items: $134.92
Capitalized Initial Fees: $496.89
Total Cap: $45,588.56
Rebate Savings: -$1,996.00
Net Cap: $43,592.56

Base payment: $455.86
Tax: $41.03
Payment: $496.89

Capitalized Initial Fees: $496.89
1st payment: -$496.89
Due on delivery: $0

MF: 0.0009
Miles: 12,000
Residual: 60% (of $49,253)
Residual amount: $29,551.80

Tax: 9.00% (Southern Cal)

kyfdx

beemerb0y said:

Michael, thank you very much for answering the numerous questions on the board. You have been very helpful.

I have a question regarding the lease break down the dealer sent me.

I don't understand the part where it says :

Capitalized Initial Fees: $496.89

then later it says...

Capitalized Initial Fees: $496.89
1st payment: -$496.89
Due on delivery: $0

Lexus is waiving the first payment up to $700, any remainder goes to reducing the cap cost.

Is the dealer following that rule, or are they pocketing it any of it?

Here is their quote:

MSRP: $49253.00
Discount savings: -$5,499.00
Vehicle selling price: $43,754.00
Document prep fee: $80.00
License/Title: $350.00
tire/battery/VTR fee: $8.75
Other fee: $29.00
Acquisition Fee: $700.00
Tax on collected items: $134.92
Capitalized Initial Fees: $496.89
Total Cap: $45,588.56
Rebate Savings: -$1,996.00
Net Cap: $43,592.56

Base payment: $455.86
Tax: $41.03
Payment: $496.89

Capitalized Initial Fees: $496.89
1st payment: -$496.89
Due on delivery: $0

MF: 0.0009
Miles: 12,000
Residual: 60% (of $49,253)
Residual amount: $29,551.80

Tax: 9.00% (Southern Cal)

There is ZERO first payment due from the lessee.... but, it still has to be paid for. So, it's added to the CAP cost, but then Lexus pays for it, so it's shown as a rebate/capcost reduction ($1996 is the $1500 incentive + the $496 1st payment).

beemerb0y

kyfdx said:

There is ZERO first payment due from the lessee.... but, it still has to be paid for. So, it's added to the CAP cost, but then Lexus pays for it, so it's shown as a rebate/capcost reduction ($1996 is the $1500 incentive + the $496 1st payment).

Thank you.. make sense now...but shouldn't the remaining $204 be applied to capcost reduction as well?

smualum2011

Not sure about 10K off MSRP per say, but I bit the bullet and committed to the RX350 today.

2015 Lexus RX350 FWD, base

MSRP 44985
dealer discount 4485
lexus rebate 1500
vehicle price 39000 -- 15% off MSRP

1% TX sales tax (reg: 6.25%) - $2,000 in savings.
Complimentary first payment

Official MF on mine not confirmed, haven't pulled credit since they are awaiting my vehicle to the dealer.

Michaell

smualum2011 said:

Not sure about 10K off MSRP per say, but I bit the bullet and committed to the RX350 today.

2015 Lexus RX350 FWD, base

MSRP 44985
dealer discount 4485
lexus rebate 1500
vehicle price 39000 -- 15% off MSRP

1% TX sales tax (reg: 6.25%) - $2,000 in savings.
Complimentary first payment

Official MF on mine not confirmed, haven't pulled credit since they are awaiting my vehicle to the dealer.

What did the payment work out to be?

smualum2011

The payment worked out to be $471, this is with about $1000 in equity from my trade.

The interesting thing, the MF that was quoted was 0.0019. Which appears to be marked up by the dealer. When I inquired about it, he mentioned that was basically the base with 725+ credit. after spending some time here. I wasn't sure if that was necessarily true, but it seems at the dealership I'm working with, I can't have anything negotiated or done with it on the sales side.

The interesting thing, I have not signed anything yet. No credit pulls, nothing. All I've signed is an appraisal form for my trade. This leasing thing is new to me so I'm not sure of the process. The vehicle I picked out is on it's way to the dealership this week.

I'm going to be getting some paperwork sent over on Monday, I'm almost wondering how I might can twist this to ensure that I can get closer to the base MF.

Nevertheless, this quote as is even with the inflated MF is thousands of dollars cheaper than negotiations I had with another dealer in the area.

This is a 36M/12K by the way.

Michaell

smualum2011 said:

The payment worked out to be $471, this is with about $1000 in equity from my trade.

The interesting thing, the MF that was quoted was 0.0019. Which appears to be marked up by the dealer. When I inquired about it, he mentioned that was basically the base with 725+ credit. after spending some time here. I wasn't sure if that was necessarily true, but it seems at the dealership I'm working with, I can't have anything negotiated or done with it on the sales side.

The interesting thing, I have not signed anything yet. No credit pulls, nothing. All I've signed is an appraisal form for my trade. This leasing thing is new to me so I'm not sure of the process. The vehicle I picked out is on it's way to the dealership this week.

I'm going to be getting some paperwork sent over on Monday, I'm almost wondering how I might can twist this to ensure that I can get closer to the base MF.

Nevertheless, this quote as is even with the inflated MF is thousands of dollars cheaper than negotiations I had with another dealer in the area.

This is a 36M/12K by the way.

Top tier MF is for tiers 1 and 2 - I don't know what scores those correspond to, but 725 seems pretty high.

Jeep dealers have multiple banks they can use for leases - we only have numbers for Chrysler Finance.

smualum2011

Michaell said:

smualum2011 said:

The payment worked out to be $471, this is with about $1000 in equity from my trade.

The interesting thing, the MF that was quoted was 0.0019. Which appears to be marked up by the dealer. When I inquired about it, he mentioned that was basically the base with 725+ credit. after spending some time here. I wasn't sure if that was necessarily true, but it seems at the dealership I'm working with, I can't have anything negotiated or done with it on the sales side.

The interesting thing, I have not signed anything yet. No credit pulls, nothing. All I've signed is an appraisal form for my trade. This leasing thing is new to me so I'm not sure of the process. The vehicle I picked out is on it's way to the dealership this week.

I'm going to be getting some paperwork sent over on Monday, I'm almost wondering how I might can twist this to ensure that I can get closer to the base MF.

Nevertheless, this quote as is even with the inflated MF is thousands of dollars cheaper than negotiations I had with another dealer in the area.

This is a 36M/12K by the way.

Top tier MF is for tiers 1 and 2 - I don't know what scores those correspond to, but 725 seems pretty high.

Jeep dealers have multiple banks they can use for leases - we only have numbers for Chrysler Finance.

Yep - I think it's all going to depend on what credit bureau they pull from. It sounds like Toyota/Lexus pulls from all 3 and takes the highest. My scores are currently pulling between 729-742 as of last night, that coupled with a 4.8% income to payment ratio, I would be a bit shocked if I couldn't qualify for T1 or 2 (.00090 MF? let me know if that's incorrect).

Since they seem to pull autoenhanced scores from what I've read on some more credit related forums, I would be again, shocked if I don't qualify for T1 or 2 since I have 2 and a half years of larger payments than this with Infiniti, as well as another 4+ years with another lender on my previous car.

It really feels that the .0019 is a marked up rate.

Michaell

smualum2011 said:

Michaell said:

smualum2011 said:

The payment worked out to be $471, this is with about $1000 in equity from my trade.

The interesting thing, the MF that was quoted was 0.0019. Which appears to be marked up by the dealer. When I inquired about it, he mentioned that was basically the base with 725+ credit. after spending some time here. I wasn't sure if that was necessarily true, but it seems at the dealership I'm working with, I can't have anything negotiated or done with it on the sales side.

The interesting thing, I have not signed anything yet. No credit pulls, nothing. All I've signed is an appraisal form for my trade. This leasing thing is new to me so I'm not sure of the process. The vehicle I picked out is on it's way to the dealership this week.

I'm going to be getting some paperwork sent over on Monday, I'm almost wondering how I might can twist this to ensure that I can get closer to the base MF.

Nevertheless, this quote as is even with the inflated MF is thousands of dollars cheaper than negotiations I had with another dealer in the area.

This is a 36M/12K by the way.

Top tier MF is for tiers 1 and 2 - I don't know what scores those correspond to, but 725 seems pretty high.

Jeep dealers have multiple banks they can use for leases - we only have numbers for Chrysler Finance.

Yep - I think it's all going to depend on what credit bureau they pull from. It sounds like Toyota/Lexus pulls from all 3 and takes the highest. My scores are currently pulling between 729-742 as of last night, that coupled with a 4.8% income to payment ratio, I would be a bit shocked if I couldn't qualify for T1 or 2 (.00090 MF? let me know if that's incorrect).

Since they seem to pull autoenhanced scores from what I've read on some more credit related forums, I would be again, shocked if I don't qualify for T1 or 2 since I have 2 and a half years of larger payments than this with Infiniti, as well as another 4+ years with another lender on my previous car.

It really feels that the .0019 is a marked up rate.

Agreed that .00090 is the base MF for the RX this month. I would politely but firmly tell the dealer that I wouldn't sign a deal with an inflated MF.

attitudetalks

Hi everyone,
A coupla questions and a little bit of help please.

Qs.1 Does the MF change from state to state every month/qtr ? If so, what is the MF for Minnesota for this month ? (Lexus Rx 350 F Sport AWD).

Qs.2 How about the Residual Value of the vehicle ? Does that change from state to state ? And if so, what's the residual value for the Lexus Rx 350 F Sport AWD in Minnesota ?

Help request :
I am a leasing newbie and plan to Lease a Lexus Rx 350 F Sport which, with the upgrades on the Lexus site comes to about $52k+. What sort of a deal and how much of a dealer discount should I drive for ?

He already mentioned a $500 discount coupon (for coming to the Lexus stall at the Twin Cities Auto Show) + two months installments paid. Plus additional discounts when we meet this Saturday.

Any help/advice would be hugely appreciated before then.

Thanks

kyfdx

attitudetalks said:

Hi everyone,
A coupla questions and a little bit of help please.

Qs.1 Does the MF change from state to state every month/qtr ? If so, what is the MF for Minnesota for this month ? (Lexus Rx 350 F Sport AWD).

Qs.2 How about the Residual Value of the vehicle ? Does that change from state to state ? And if so, what's the residual value for the Lexus Rx 350 F Sport AWD in Minnesota ?

Help request :
I am a leasing newbie and plan to Lease a Lexus Rx 350 F Sport which, with the upgrades on the Lexus site comes to about $52k+. What sort of a deal and how much of a dealer discount should I drive for ?

He already mentioned a $500 discount coupon (for coming to the Lexus stall at the Twin Cities Auto Show) + two months installments paid. Plus additional discounts when we meet this Saturday.

Any help/advice would be hugely appreciated before then.

Thanks

1) Money factors are somewhat regional, but most states have the same program. They are updated monthly, but they don't always change that often. .00090 MF for most of the country, this month.

2) Residuals are national, and Lexus only adjusts them quarterly. Residual depends on term and mileage.

The RX350 has a $1500 lease incentive from Lexus and complimentary 1st payment, this month.

attitudetalks

kyfdx ... Thank you. It's beginning to make sense now.
That said, I have a couple of follow up questions :

1. Is the $1500 lease incentive + 1st Comp payment Lexus incentive for the month on top of the negotiated selling price or the sticker price ? I.e., Do I negotiate a discounted selling price and then ask for the Lexus incentive ($1500 + 1st Comp payment) on top of that ? Or is it only available on top of the sticker ?

2. I read in another thread that the 2016 Rx350 (with a truckload of changes) is scheduled to launch in Q2 this year (June ?). The Lexus dealers must be in a hurry to get the 2015 stock off their lots before the new models come in with what seem like a lot of changes. What would be a fair price for the Rx 350 F Sport considering .... ?

FYI, not a very good negotiator, but if you tell me a good price, I could try and shoot for that target.

Again .... help's appreciated.

kyfdx

attitudetalks said:

kyfdx ... Thank you. It's beginning to make sense now.
That said, I have a couple of follow up questions :

1. Is the $1500 lease incentive + 1st Comp payment Lexus incentive for the month on top of the negotiated selling price or the sticker price ? I.e., Do I negotiate a discounted selling price and then ask for the Lexus incentive ($1500 + 1st Comp payment) on top of that ? Or is it only available on top of the sticker ?

2. I read in another thread that the 2016 Rx350 (with a truckload of changes) is scheduled to launch in Q2 this year (June ?). The Lexus dealers must be in a hurry to get the 2015 stock off their lots before the new models come in with what seem like a lot of changes. What would be a fair price for the Rx 350 F Sport considering .... ?

FYI, not a very good negotiator, but if you tell me a good price, I could try and shoot for that target.

Again .... help's appreciated.

I think with Lexus, the $1500 has to show up as a CAP cost reduction on the lease.. but, assume any number they give you already includes the $1500 and bargain accordingly. Don't expect them to volunteer it, and give you $1500 more, after the negotiations are done.

No clue about selling prices..

smualum2011

Michaell said:

smualum2011 said:

Michaell said:

smualum2011 said:

The payment worked out to be $471, this is with about $1000 in equity from my trade.

The interesting thing, the MF that was quoted was 0.0019. Which appears to be marked up by the dealer. When I inquired about it, he mentioned that was basically the base with 725+ credit. after spending some time here. I wasn't sure if that was necessarily true, but it seems at the dealership I'm working with, I can't have anything negotiated or done with it on the sales side.

The interesting thing, I have not signed anything yet. No credit pulls, nothing. All I've signed is an appraisal form for my trade. This leasing thing is new to me so I'm not sure of the process. The vehicle I picked out is on it's way to the dealership this week.

I'm going to be getting some paperwork sent over on Monday, I'm almost wondering how I might can twist this to ensure that I can get closer to the base MF.

Nevertheless, this quote as is even with the inflated MF is thousands of dollars cheaper than negotiations I had with another dealer in the area.

This is a 36M/12K by the way.

Top tier MF is for tiers 1 and 2 - I don't know what scores those correspond to, but 725 seems pretty high.

Jeep dealers have multiple banks they can use for leases - we only have numbers for Chrysler Finance.

Yep - I think it's all going to depend on what credit bureau they pull from. It sounds like Toyota/Lexus pulls from all 3 and takes the highest. My scores are currently pulling between 729-742 as of last night, that coupled with a 4.8% income to payment ratio, I would be a bit shocked if I couldn't qualify for T1 or 2 (.00090 MF? let me know if that's incorrect).

Since they seem to pull autoenhanced scores from what I've read on some more credit related forums, I would be again, shocked if I don't qualify for T1 or 2 since I have 2 and a half years of larger payments than this with Infiniti, as well as another 4+ years with another lender on my previous car.

It really feels that the .0019 is a marked up rate.

Agreed that .00090 is the base MF for the RX this month. I would politely but firmly tell the dealer that I wouldn't sign a deal with an inflated MF.

Thanks for the advice. Signed the deal yesterday. Not sure what final MF ended up as, but my payment went down to $451 after negotiation.

Michaell

smualum2011 said:

Michaell said:

smualum2011 said:

Michaell said:

smualum2011 said:

The payment worked out to be $471, this is with about $1000 in equity from my trade.

The interesting thing, the MF that was quoted was 0.0019. Which appears to be marked up by the dealer. When I inquired about it, he mentioned that was basically the base with 725+ credit. after spending some time here. I wasn't sure if that was necessarily true, but it seems at the dealership I'm working with, I can't have anything negotiated or done with it on the sales side.

The interesting thing, I have not signed anything yet. No credit pulls, nothing. All I've signed is an appraisal form for my trade. This leasing thing is new to me so I'm not sure of the process. The vehicle I picked out is on it's way to the dealership this week.

I'm going to be getting some paperwork sent over on Monday, I'm almost wondering how I might can twist this to ensure that I can get closer to the base MF.

Nevertheless, this quote as is even with the inflated MF is thousands of dollars cheaper than negotiations I had with another dealer in the area.

This is a 36M/12K by the way.

Top tier MF is for tiers 1 and 2 - I don't know what scores those correspond to, but 725 seems pretty high.

Jeep dealers have multiple banks they can use for leases - we only have numbers for Chrysler Finance.

Yep - I think it's all going to depend on what credit bureau they pull from. It sounds like Toyota/Lexus pulls from all 3 and takes the highest. My scores are currently pulling between 729-742 as of last night, that coupled with a 4.8% income to payment ratio, I would be a bit shocked if I couldn't qualify for T1 or 2 (.00090 MF? let me know if that's incorrect).

Since they seem to pull autoenhanced scores from what I've read on some more credit related forums, I would be again, shocked if I don't qualify for T1 or 2 since I have 2 and a half years of larger payments than this with Infiniti, as well as another 4+ years with another lender on my previous car.

It really feels that the .0019 is a marked up rate.

Agreed that .00090 is the base MF for the RX this month. I would politely but firmly tell the dealer that I wouldn't sign a deal with an inflated MF.

Thanks for the advice. Signed the deal yesterday. Not sure what final MF ended up as, but my payment went down to $451 after negotiation.

Congratulations - enjoy your new Lexus!

attitudetalks

kyfdx - Thank you.
This helped and here is what I have from my first meet :
Term : 36 mth
Miles : 10,000
MF : 0.00090
Residual Value : 61%


MSRP : $52,113
Discount : $3,250
Net Cap Cost : $48,863

This works out to :
Depreciation (month) : $474
Finance (month) : $73
Total (per month) : $547
Down Payment : $680
--- Lexus Rebates : additional $2,547 off taxes and fees which includes $2,000 Lexus rebate + comp 1st payment of $547.

Qs 1. What do you think of this deal ?
Qs. 2. Are there other comprable SUVs that you know off that offer better Residual/MF ?

Appreciate it all.

Attitude

attitudetalks

smualum2011 said:

Not sure about 10K off MSRP per say, but I bit the bullet and committed to the RX350 today.

2015 Lexus RX350 FWD, base

MSRP 44985
dealer discount 4485
lexus rebate 1500
vehicle price 39000 -- 15% off MSRP

1% TX sales tax (reg: 6.25%) - $2,000 in savings.
Complimentary first payment

Hi smualum2011,
To reconfirm, your discounts totaled - $8,456 on an msrp of $44,985 ?
i.e., -
Dealer discount : $4,485
Lexus Rebate : $1,500
1% TX Sales tax : $2,000
1st Payment : $471

That's almost 20% off msrp - Wow !!

Qs. Was the 1% TX Tax rebate a dealer incentive or a Lexus manufacturing rebate ?

Atti

kyfdx

attitudetalks said:

kyfdx - Thank you.
This helped and here is what I have from my first meet :
Term : 36 mth
Miles : 10,000
MF : 0.00090
Residual Value : 61%


MSRP : $52,113
Discount : $3,250
Net Cap Cost : $48,863

This works out to :
Depreciation (month) : $474
Finance (month) : $73
Total (per month) : $547
Down Payment : $680
--- Lexus Rebates : additional $2,547 off taxes and fees which includes $2,000 Lexus rebate + comp 1st payment of $547.

Qs 1. What do you think of this deal ?
Qs. 2. Are there other comprable SUVs that you know off that offer better Residual/MF ?

Appreciate it all.

Attitude

So, your drive-off amount is $680? I agree with the numbers and calculations.. Would want to see a breakdown of the CAP cost reduction, to see what the $2000 actually covers. What state and how much are the taxes?

Can't really comment on the discount, as I don't follow the pricing... But, the RX350 does lease out as well or better than it's competitors, I think.. MSRP vs. monthly payment.

attitudetalks

kyfdx said:

So, your drive-off amount is $680? I agree with the numbers and calculations.. Would want to see a breakdown of the CAP cost reduction, to see what the $2000 actually covers. What state and how much are the taxes? Can't really comment on the discount, as I don't follow the pricing... But, the RX350 does lease out as well or better than it's competitors, I think.. MSRP vs. monthly payment.

You got that right kyfdx .... Drive off amount is $680.

The $2,000 includes $1,500 Lexus leasing rebate (March) and $500 coupon for visiting Lexus at the MN Auto Show. They're taking this off the taxes/fees and offering me an additional $3,250 dealer discount off the MSRP.

Btw, I have worked it out both ways, getting the $2k off taxes/fees or coughing it up upfront to add it to the Net Cap - marginal difference. The taxes are about $1,261.88 payable upfront when leasing in Minnesota.

Also, the residual value of a 48 month lease was quoted as 52% which makes it far worse than the 36 months. So that's out ...

So, net-net .....

Total Discount : $5,797
which includes,
$3,250 : Dealer discount off msrp (net cap cost)
$1,500 : Lexus rebate
$500 : Twin Cities Auto Show visit rebate
$547 : Comp 1st payment

What say you ?

Atti

smualum2011

attitudetalks said:

smualum2011 said:

Not sure about 10K off MSRP per say, but I bit the bullet and committed to the RX350 today.

2015 Lexus RX350 FWD, base

MSRP 44985
dealer discount 4485
lexus rebate 1500
vehicle price 39000 -- 15% off MSRP

1% TX sales tax (reg: 6.25%) - $2,000 in savings.
Complimentary first payment

Hi smualum2011,
To reconfirm, your discounts totaled - $8,456 on an msrp of $44,985 ?
i.e., -
Dealer discount : $4,485
Lexus Rebate : $1,500
1% TX Sales tax : $2,000
1st Payment : $471

That's almost 20% off msrp - Wow !!

Qs. Was the 1% TX Tax rebate a dealer incentive or a Lexus manufacturing rebate ?

Atti

This was a Lexus incentive for March. It was offered to Texas residents on top of the $1,500 rebate that seems to be pretty standard. The reason for this is that in Texas, we have to pay sales tax on the entire purchase price of the vehicle, even when leasing, which can make leasing pretty unattractive here.

My final payment was $451 with complimentary first payment by Lexus. They added it to the cap cost. So yes, the total discounts were in the $8,400 ballpark.

I took delivery on this last week..

I do want to reiterate I had around $1,500 in positive equity in my trade that went to these numbers. but otherwise the complimentary first payment and the rebate was all that I put "down" on the car. I paid zero out of pocket to drive out otherwise.

My recommendation would be to first go to a dealer and just negotiate the purchase price of car only. If they ask, I'd just say you're looking to purchase the car.

I was able to get the numbers down to the 39K just between the rebate & dealer discount. I let them evaluate my trade, negotiated that & then pulled out the leasing card, and let them pull my credit. I gave them a little bit of inflation on the final MF as they cut me slack on both purchase price & gave me an extra couple of grand for my trade by matching another dealer. They met me a bit halfway on the final MF, by decreasing my payment the $20/mo or so.

I did have tier one credit, confirmed by dealer, for what it was worth.

beemerb0y

The month of MARCH is coming to an end.. any predictions, perhaps based on previous years, what the MF and RV might be in APRIL - 2nd quarter?

2016 models around the corner as well...