2015 Lexus RX 350 lease deal

pav333hppav333hp Member Posts: 2
edited June 2015 in Lexus
Trying to gauge this lease offer local dealer talked about.

2015 Lexus RX350 AWD + Premium Package. White/Saddle Brown. MSRP 47,780

$3,500 cash down
36 mo term
$445/mo total after all taxes and insurance ($410 before taxes and $385 before damage insurance).
12k mi / year
$28,600 residual at end of the lease

The deal includes 5, 10, and 15k services free, damage insurance (covers up to $7,500 of damage). Since I live in CA, taxes are non-negotiable and I would want the damage insurance (have kids), $445 seems reasonable; what do you think?

I went to another dealer, and they offered similar lease deal (not including 15k service) for $525.

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Answers

  • MichaellMichaell ColoradoModerator Posts: 206,489
    pav333hp said:

    Trying to gauge this lease offer local dealer talked about.

    2015 Lexus RX350 AWD + Premium Package. White/Saddle Brown. MSRP 47,780

    $3,500 cash down
    36 mo term
    $445/mo total after all taxes and insurance ($410 before taxes and $385 before damage insurance).
    12k mi / year
    $28,600 residual at end of the lease

    The deal includes 5, 10, and 15k services free, damage insurance (covers up to $7,500 of damage). Since I live in CA, taxes are non-negotiable and I would want the damage insurance (have kids), $445 seems reasonable; what do you think?

    I went to another dealer, and they offered similar lease deal (not including 15k service) for $525.

    What is the offered selling price?

    We do not recommend making such a large down payment - if the car is stolen or totaled, you lose that money. Only out of pocket costs should be first payment, bank fee and any state license or tag costs.

    36/12 numbers on the RX350 are .00070 and 60%. $1500 lease cash, which should be subtracted after negotiating your best price.

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  • pav333hppav333hp Member Posts: 2
    Michaell said:



    What is the offered selling price?

    We do not recommend making such a large down payment - if the car is stolen or totaled, you lose that money. Only out of pocket costs should be first payment, bank fee and any state license or tag costs.

    36/12 numbers on the RX350 are .00070 and 60%. $1500 lease cash, which should be subtracted after negotiating your best price.

    We got the sale price down to $41,850 and want to keep our payment under $450. Dealer told us $3,500 down + $1,500 rebate from Lexus = $5,000 which would get us the $385 payment.
  • MichaellMichaell ColoradoModerator Posts: 206,489
    pav333hp said:

    Michaell said:



    What is the offered selling price?

    We do not recommend making such a large down payment - if the car is stolen or totaled, you lose that money. Only out of pocket costs should be first payment, bank fee and any state license or tag costs.

    36/12 numbers on the RX350 are .00070 and 60%. $1500 lease cash, which should be subtracted after negotiating your best price.

    We got the sale price down to $41,850 and want to keep our payment under $450. Dealer told us $3,500 down + $1,500 rebate from Lexus = $5,000 which would get us the $385 payment.
    Right, but the $3500 down is effectively $100/mo, so your "true" payment is $485/mo.

    With the MSRP and selling price you've given, along with the MF and residual from above, I get a pre-tax payment of $415.53/mo.

    Ask the dealer what the net cap cost is, and what MF they are using.

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  • rocbrady8rocbrady8 Member Posts: 4
    Hi everyone, first time leasing. I've been e-mailing internet sales and so far, received a price from one dealer:

    MSRP $50270
    Sale price $44770 after $1500 Lexus rebate

    Dealer is giving me a discount of just under 8% of MSRP. True Car for my area (Boston, MA but this is a Rhode Island dealership) says a good price is 8.41% off MSRP, but after reading these posts, I see people are getting upwards of 13-14% off. Do I negotiate according to TrueCar results in my area or should I try for more?

    Thanks in advance!
  • MichaellMichaell ColoradoModerator Posts: 206,489
    rocbrady8 said:

    Hi everyone, first time leasing. I've been e-mailing internet sales and so far, received a price from one dealer:

    MSRP $50270
    Sale price $44770 after $1500 Lexus rebate

    Dealer is giving me a discount of just under 8% of MSRP. True Car for my area (Boston, MA but this is a Rhode Island dealership) says a good price is 8.41% off MSRP, but after reading these posts, I see people are getting upwards of 13-14% off. Do I negotiate according to TrueCar results in my area or should I try for more?

    Thanks in advance!

    If you don't ask, you don't get. Can't hurt to ask for more of a discount. Also, get multiple dealers involved as well - the competition will help you get the best selling price.

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  • jwb990jwb990 Member Posts: 33
    Hi,

    I am talking to a dealer to lease an RX 350 and they are telling me the money factor is .0012 and not the .0007 mentioned here. The residual is the same at 60%. Is it better to get a 27 month lease? Lexus is also advertising a new RX Lease I think for $399 plus tax and $3,999 drive off. Is that the best deal or can you negotiate any lower? How can you tell what all the packages or options they have as it seems endless on the website as to what you can add to a Lexus car?
  • jwb990jwb990 Member Posts: 33
    Sorry forgot to say I live in California and not sure if that makes a difference or not.
  • MichaellMichaell ColoradoModerator Posts: 206,489
    jwb990 said:

    Hi,

    I am talking to a dealer to lease an RX 350 and they are telling me the money factor is .0012 and not the .0007 mentioned here. The residual is the same at 60%. Is it better to get a 27 month lease? Lexus is also advertising a new RX Lease I think for $399 plus tax and $3,999 drive off. Is that the best deal or can you negotiate any lower? How can you tell what all the packages or options they have as it seems endless on the website as to what you can add to a Lexus car?

    jwb990 said:

    Sorry forgot to say I live in California and not sure if that makes a difference or not.

    Buy rate for the RX is indeed .00070 in CA this month. Dealer can mark it up for extra profit; tell them you won't sign a deal that includes a marked up MF.

    27/15 residual is 65%; 36/15 residual is 58%

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  • mje18mje18 Member Posts: 1
    Hi, Michaell - new to this site, just reading about all the different things that go into a lease have my head spinning, is there a FAQ somewhere I can read.... I am looking to find a RX350 lease in the chicago suburbs
  • MichaellMichaell ColoradoModerator Posts: 206,489
    mje18 said:
    Hi, Michaell - new to this site, just reading about all the different things that go into a lease have my head spinning, is there a FAQ somewhere I can read.... I am looking to find a RX350 lease in the chicago suburbs
    If you link to the car research tab at the top of the page, there are lots of lease articles for you to read. 

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  • jwb990jwb990 Member Posts: 33
    In another post regarding Lexus I have been told the June programs were carried over but one dealership is now telling me that the money factor for the RX 350 is not .0009. Has that changed?
  • MichaellMichaell ColoradoModerator Posts: 206,489
    jwb990 said:

    In another post regarding Lexus I have been told the June programs were carried over but one dealership is now telling me that the money factor for the RX 350 is not .0009. Has that changed?

    Lexus MF is regional ... and, we don't have all regions. I've not seen it higher than .00090, however. What is your dealership quoting you?

    You should contact multiple dealers to see if you get a consistent story from all of them.

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  • jwb990jwb990 Member Posts: 33
    I have one dealer that gave me a .00075 money factor after I told them that I found out the money factor for the RX 350 should be .0007. The other dealer is telling me that the money factor for the RX 350 is now .0009. Sorry in the last post I should have put .0007 not .0009.

    Last month the factor was .0007 and I heard the promotions stayed the same but now this new dealer is quoting a factor of .0009. I think they are trying to steer me towards the GS model as that is the .0009 but with a bigger lease incentive.

    I am in Southern California and dealing with dealerships close to LA.
  • srd1srd1 Member Posts: 13
    Please advise if the following makes sense for a 2015 Lexus RX350 AWD

    MSRP $47,780
    Sale Price $43,529
    Acquisition fee $599
    VA Tax 1809
    Title/Tags144
    Residual Value $28,668 (60% of MSRP) for 36m/12k term lease,
    Down Payment $0
    Monthly $ 507

    MF is marked up at 0.00075 with this, If I could negotiate down to 0.00070, and applying Max MSD 7 or 8, how much can I bring it down the MF and then monthly payment?

    Haven't figured the breakdown of numbers on Leasematic app yet. Thanks for all your help.

  • MichaellMichaell ColoradoModerator Posts: 206,489
    srd1 said:

    Please advise if the following makes sense for a 2015 Lexus RX350 AWD

    MSRP $47,780
    Sale Price $43,529
    Acquisition fee $599
    VA Tax 1809
    Title/Tags144
    Residual Value $28,668 (60% of MSRP) for 36m/12k term lease,
    Down Payment $0
    Monthly $ 507

    MF is marked up at 0.00075 with this, If I could negotiate down to 0.00070, and applying Max MSD 7 or 8, how much can I bring it down the MF and then monthly payment?

    Haven't figured the breakdown of numbers on Leasematic app yet. Thanks for all your help.

    The Lexus lease numbers are regional .. we think the base MF for the RX is .00070, but it could be different in VA; we don't have all the regional information.

    Each SD brings the MF down .00008, but Lexus doesn't allow the MF to drop below .00005.

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  • waynem3waynem3 IllinoisMember Posts: 21
    Hi, what are the current MF and Residual for a 36 month 10k/ yr and 12k/yr lease on the RX350 awd in Indiana?
    Thanks
  • MichaellMichaell ColoradoModerator Posts: 206,489
    waynem3 said:

    Hi, what are the current MF and Residual for a 36 month 10k/ yr and 12k/yr lease on the RX350 awd in Indiana?
    Thanks

    .00070 and 60% / 61%. $1500 lease cash and first month is complimentary.

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  • veetee9veetee9 Member Posts: 6
    First time leaser buyer: How would you rate this deal in Seattle? Can I do better? If so, tips make it a great deal would be appreciated
    350 F-Sport, 36/10
    MSRP: 54058
    Savings - 4058
    Rebate - 2061
    CapCost - 50K
    MF - 0.00075
    Res: 33515.96
    0 Down
    Monthly Payment - 561.67
  • MichaellMichaell ColoradoModerator Posts: 206,489
    veetee9 said:

    First time leaser buyer: How would you rate this deal in Seattle? Can I do better? If so, tips make it a great deal would be appreciated
    350 F-Sport, 36/10
    MSRP: 54058
    Savings - 4058
    Rebate - 2061
    CapCost - 50K
    MF - 0.00075
    Res: 33515.96
    0 Down
    Monthly Payment - 561.67

    Using your numbers (61% residual and .00075 MF), and 9.8% tax rate, I get $587.58/mo. Your quote looks competitive by comparison.

    How much out of pocket?

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