2016 Lexus RX350 Lease Questions

evan1948

I was offered a 45 month lease at $529/MO with 12k per
year. 2016 rx350 awd with nav. Does this sound like a good deal in New Jersey? I am not sure about the  45 month leasE as I have always had 36 month leases. Thanks.

Michaell

evan1948 said:

I was offered a 45 month lease at $529/MO with 12k per
year. 2016 rx350 awd with nav. Does this sound like a good deal in New Jersey? I am not sure about the  45 month leasE as I have always had 36 month leases. Thanks.

What is the MSRP and selling price?

evan1948

I forgot to mention, I am also putting down a fully refundable security deposit of $5,000.

evan1948

I am going to the dealer in a little while to pick up the pro forma paperwork for review and will let you know. Thanks very much.

evan1948

The msrp is 51,970

evan1948

The selling price was 48,266. Thanks

kyfdx

evan1948 said:

The selling price was 48,266. Thanks

45 months seems like a long time to lease a car.

evan1948

I agree. I am hesitant because of that however when this lease ends it will be in December which is a good time to find a new lease. Also, the time goes by quickly.

presplan1

In a past post you mentioned that if you can put down up to 9 multiple security deposits to reduce the MF. How much money is in a multiple security deposit (e.g. 1 deposit equals $1,000 or 1 deposit equals $2,500, etc.)? thanks.

Michaell

presplan1 said:

In a past post you mentioned that if you can put down up to 9 multiple security deposits to reduce the MF. How much money is in a multiple security deposit (e.g. 1 deposit equals $1,000 or 1 deposit equals $2,500, etc.)? thanks.

Each security deposit is the amount of the monthly payment, rounded up to the next highest $50. 

kyfdx

presplan1 said:

In a past post you mentioned that if you can put down up to 9 multiple security deposits to reduce the MF. How much money is in a multiple security deposit (e.g. 1 deposit equals $1,000 or 1 deposit equals $2,500, etc.)? thanks.

One security deposit is the amount of the monthly payment, rounded up to the next $25 or $50 increment (not sure which Lexus uses).

edsocal

Regarding security deposits, it is worthwhile to do to get the monthly payments down and you get the money back at the end of the lease but what happens if the car is stolen or totaled in an accident. Do I lose that sum I've put down or is it still returned? Thanks, thinking of that option on a new lease

kyfdx

edsocal said:

Regarding security deposits, it is worthwhile to do to get the monthly payments down and you get the money back at the end of the lease but what happens if the car is stolen or totaled in an accident. Do I lose that sum I've put down or is it still returned? Thanks, thinking of that option on a new lease

The security deposit is returned.

gwarrenfl

Hi can you tell me the Residual for the RX350 with Nav on 7,500 miles for 24 Months?
I believe that its 65% for 36 mo's and 69 at 30 mo's. It appears to me that the residual is 2% difference for every 3 months? If it matters this would be for the Southern region or South Florida
Gwarrenfl

norman_sky

Hi Michaell,

MF and RV for 2016 RX350 in NorCal? What about the MF for one payment (I know some dealer still charge MF even with one upfront payment)

Any reasonable discount expected?

Thanks!

kyfdx

gwarrenfl said:

Hi can you tell me the Residual for the RX350 with Nav on 7,500 miles for 24 Months?
I believe that its 65% for 36 mo's and 69 at 30 mo's. It appears to me that the residual is 2% difference for every 3 months? If it matters this would be for the Southern region or South Florida
Gwarrenfl

73%/69%/65% is correct.

kyfdx

norman_sky said:

Hi Michaell,

MF and RV for 2016 RX350 in NorCal? What about the MF for one payment (I know some dealer still charge MF even with one upfront payment)

Any reasonable discount expected?

Thanks!

What term and mileage?

xmjx

Hi, I'm looking for lease numbers on a 2016 RX 350 F Sport - 10K miles per year, 36 months. Any help? Thanks.

Michaell

xmjx said:

Hi, I'm looking for lease numbers on a 2016 RX 350 F Sport - 10K miles per year, 36 months. Any help? Thanks.

64% and .00165

hypnotics

Could you please provide mf and residual for 2016 awd 36 m 15k in northeast? Thank you

Michaell

hypnotics said:

Could you please provide mf and residual for 2016 awd 36 m 15k in northeast? Thank you

.00165 and 61%

nitro310

Just got quote for 2016 RX 350. MSRP $51,104. They reduced it to $48,777, not including tax and fees.
36 months/12K miles, residual 0.63
Zero money down, Monthly payment is $799
They wouldn't give me the money factor.
The monthly payment seems outrageous.
Any thought on what my monthly payment should be? I live in Texas so have to pay taxes on the full price of the car.

Michaell

nitro310 said:

Just got quote for 2016 RX 350. MSRP $51,104. They reduced it to $48,777, not including tax and fees.
36 months/12K miles, residual 0.63
Zero money down, Monthly payment is $799
They wouldn't give me the money factor.
The monthly payment seems outrageous.
Any thought on what my monthly payment should be? I live in Texas so have to pay taxes on the full price of the car.

The taxes there are a killer, but I agree that $799 is a bit high.

Get them to disclose both the MF and net cap cost (after fees and taxes). If they don't want to play ball, find another dealer. End of the month is coming; I'm sure there is one dealer willing to meet your numbers.

dawilson56

I want to calculate/verify the MF for the current RX450h lease "offer" for my area. The example car list/price is $54,254 with $3999 down and a lease for 36 months at 10k per year for $539/month. The posted example doesn't includes local/state taxes.

I'm calculating a MF of .001266 based on:
1) cap cost of $50,255 ($54,254-$3999)
2) 64% residual (or $34,723) - not sure they're published for the RX450h - so I assumed the RX350 %
3) Depreciation of $15,532 ($50,255-$34,723) or $431.44/month,
4) Monthly interest of $107.56 to reach total payment of $539
5) MF = .001266 based on monthly interest of $107.56 divided by the sum of cap cost and residual value ($50,255+$34,723)

Am I missing something? Please correct the math/logic as needed. Thank you

Michaell

dawilson56 said:

I want to calculate/verify the MF for the current RX450h lease "offer" for my area. The example car list/price is $54,254 with $3999 down and a lease for 36 months at 10k per year for $539/month. The posted example doesn't includes local/state taxes.

I'm calculating a MF of .001266 based on:
1) cap cost of $50,255 ($54,254-$3999)
2) 64% residual (or $34,723) - not sure they're published for the RX450h - so I assumed the RX350 %
3) Depreciation of $15,532 ($50,255-$34,723) or $431.44/month,
4) Monthly interest of $107.56 to reach total payment of $539
5) MF = .001266 based on monthly interest of $107.56 divided by the sum of cap cost and residual value ($50,255+$34,723)

Am I missing something? Please correct the math/logic as needed. Thank you

64% is the correct 36/10 residual for the RX450h, but the quoted MF this month is .00155. You can't reverse engineer the MF from the other numbers.

Anyway, that "offer" may also include some sort of contribution (aka discount) from sticker, in addition to the $3999. We don't recommend making a down payment on a lease - if the car is stolen or totaled, you lose that money.

You should be able to do just as well with some decent negotiation skills.

dawilson56

Thanks for your help. I was really interested in the MF. I agree with you about no money down and the ability to negotiate a better price. I thought there may be a "deal " on Rx 450H leases.....

presplan1

Just got my new 2016 RX350 AWD with $53k msrp at a 10% discount. Leasing 36 mos, 10k mile/yr. No money down except for registration fees, tags, title, acquisition fee and first month payment. Also took advantage of multiple security deposit program. Was very happy with the dealership in North New Jersey area where they are very aggressive in their deals.This site was instrumental in obtaining a great value as I was educated with all the pertinent facts to talk about. Thank you for all your advice and help!

Michaell

presplan1 said:

Just got my new 2016 RX350 AWD with $53k msrp at a 10% discount. Leasing 36 mos, 10k mile/yr. No money down except for registration fees, tags, title, acquisition fee and first month payment. Also took advantage of multiple security deposit program. Was very happy with the dealership in North New Jersey area where they are very aggressive in their deals.This site was instrumental in obtaining a great value as I was educated with all the pertinent facts to talk about. Thank you for all your advice and help!

Congrats and enjoy your new RX!

jvm2

I just received 2 lease deal offers from NJ dealers and want to know, if either of them are any good, both are 36 months, 15k miles/yr on a 2016 RX350. One is $558/mo with $3500 down on MSRP of $52.5K ($47K purchase price before taxes/fees) while the other is $499/month with $3500 down on MSRP of $51.7K ($45K purchase price before taxes/fees). How should I compare these deals?

Also, I have a trade-in worth about $3500...should I use that as the down payment or build the downpayment into the lease and expect them to buy my trade-in from me?

Michaell

jvm2 said:

I just received 2 lease deal offers from NJ dealers and want to know, if either of them are any good, both are 36 months, 15k miles/yr on a 2016 RX350. One is $558/mo with $3500 down on MSRP of $52.5K ($47K purchase price before taxes/fees) while the other is $499/month with $3500 down on MSRP of $51.7K ($45K purchase price before taxes/fees). How should I compare these deals?

Also, I have a trade-in worth about $3500...should I use that as the down payment or build the downpayment into the lease and expect them to buy my trade-in from me?

Neither . we don't recommend making a cash down payment nor using trade equity as down. That money would be lost if the car is stolen or totaled.

The 36/15 lease numbers for the RX350 are .00165 and 61%.

With $0 down, your two offers work out to $546/mo + taxes for deal 1, and $500/mo + taxes for deal 2.

Go with the vehicle that you like more. At that price point, I'd want the car that has the equipment or color I prefer.

jvm2

Wouldn't gap insurance cover the car fully (and the money I put down) to cover the total vehicle cost if stolen or totaled?

Also, to clarify the monthly numbers and the down payment above is my "out the door" figure including taxes and fees...so would I be correct in saying the all-in monthly payment with no money down would be $655 ($558 + 3500/36) and $596 ($499 +3500/36)? Both cars are comparably equipped.

If I don't trade-in, do you recommend private sale...my car is a 2005 Acura MDX, fully loaded, but has 171K miles...I'd prefer to trade-in because I'm not sure anyone will actually want a vehicle with that many miles for more than $3500 (in fair condition...needs some body work)?

Michaell

jvm2 said:

Wouldn't gap insurance cover the car fully (and the money I put down) to cover the total vehicle cost if stolen or totaled?

Also, to clarify the monthly numbers and the down payment above is my "out the door" figure including taxes and fees...so would I be correct in saying the all-in monthly payment with no money down would be $655 ($558 + 3500/36) and $596 ($499 +3500/36)? Both cars are comparably equipped.

If I don't trade-in, do you recommend private sale...my car is a 2005 Acura MDX, fully loaded, but has 171K miles...I'd prefer to trade-in because I'm not sure anyone will actually want a vehicle with that many miles for more than $3500 (in fair condition...needs some body work)?

GAP insurance on a lease only covers the remaining obligation, so the down payment is excluded.

Trade the car in at the dealer, but have them write you a check for it.

Yes, if you back out the down payment, the payment goes up accordingly. Use the check from the dealer to augment the now higher payment.

gwarrenfl

Seems like JVM2 is offered a GREAT deal at $45,000 for a $51,700 MSRP. I find it hard to believe that any dealer would go that low at this time. I have checked in the S FL area where there is lots of competition and the average was $2,500 off MSRP. $45,000 is way below invoice and this is a new model not receiving any extra support from Lexus. I would be curious to know if they really sell at that price. I thought I got a very fair deal at $48,000 for the same MSRP
gwarrenfl

carseeker14

Are the March money factor and residual values available for NY/NJ for 2016 RX350 AWD - 36 month at 10K/12K/15K? Also are there any consumer or dealer incentives that were announced for March?

javapro78

presplan1 said:

Just got my new 2016 RX350 AWD with $53k msrp at a 10% discount. Leasing 36 mos, 10k mile/yr. No money down except for registration fees, tags, title, acquisition fee and first month payment. Also took advantage of multiple security deposit program. Was very happy with the dealership in North New Jersey area where they are very aggressive in their deals.This site was instrumental in obtaining a great value as I was educated with all the pertinent facts to talk about. Thank you for all your advice and help!

presplan1, I am also in northern NJ and looking to lease 2016 RX 350 AWD. Which dealership did you go to? What did your monthly payment come out to be? Judging by MSRP you got the one with the nav, right?

gwater

I'm in Southern California. I was wondering how March's incentives, MF, and RV compare to those from February?

I received an offer yesterday from a dealer for a RX350 MSRP $49,614 for $495/mo including tax with a $1500 drive off. Net cap cost is $44,456. Dealer has pledged to still honor the offer today even though it's now a new month but I'm wondering if I should hold off. Should I jump at this deal? What do you think? Thanks in advance.

gwater

I'm in Southern California. Was wondering how the March promos, mf and rv are compared to those from February?

Received a quote from a dealer yesterday for a car msrp $49,614 for $1500 drive off and $495 per month. Net cap cost $44,456. The dealer has said he would honor yesterday's deal even though the month has changed... Im just wondering if I can do even better. should I jump at this deal? Any help is most appreciated. Thanks!

Michaell

carseeker14 said:

Are the March money factor and residual values available for NY/NJ for 2016 RX350 AWD - 36 month at 10K/12K/15K? Also are there any consumer or dealer incentives that were announced for March?

Limited information for March at this point ... 36/10 numbers are 64% and .00150. Subtract 1% for 12K and 3% for 15K. No incentives that we see.

Michaell

gwater said:

I'm in Southern California. Was wondering how the March promos, mf and rv are compared to those from February?

Received a quote from a dealer yesterday for a car msrp $49,614 for $1500 drive off and $495 per month. Net cap cost $44,456. The dealer has said he would honor yesterday's deal even though the month has changed... Im just wondering if I can do even better. should I jump at this deal? Any help is most appreciated. Thanks!

Limited information for March at this point ... 36/10 numbers are 64% and .00150. Subtract 1% for 12K and 3% for 15K. No incentives that we see.

eric0807

I received offer $650/48mo and no down. 2016 RX350 MSRP $53229.
What do you think?

kyfdx

eric0807 said:

I received offer $650/48mo and no down. 2016 RX350 MSRP $53229.
What do you think?

Doesn't look like a very good deal for a 48 month lease.

Of course, we don't know the selling price, state or tax rate..

vettevert

Do we have residuals, MF, etc. for 24 mo. 12k mile leases yet?

Michaell

vettevert said:

Do we have residuals, MF, etc. for 24 mo. 12k mile leases yet?

71% and .00150

vettevert

Michaell said:

vettevert said:

Do we have residuals, MF, etc. for 24 mo. 12k mile leases yet?

71% and .00150

Thanks!

eric0807

Thanks kyfdx!!

brandloyal

Looking for the residual and mf for 2016 RX in Massachusetts. Has anyone found good deals in MA?

Michaell

brandloyal said:

Looking for the residual and mf for 2016 RX in Massachusetts. Has anyone found good deals in MA?

FWD or AWD? Lease term and miles per year?

brandloyal

Michaell said:

brandloyal said:

Looking for the residual and mf for 2016 RX in Massachusetts. Has anyone found good deals in MA?

FWD or AWD? Lease term and miles per year?

Sorry, AWD 36mos 10K miles.
Thanks

Michaell

brandloyal said:

Michaell said:

brandloyal said:

Looking for the residual and mf for 2016 RX in Massachusetts. Has anyone found good deals in MA?

FWD or AWD? Lease term and miles per year?

Sorry, AWD 36mos 10K miles.
Thanks

64% and .00150

robags0817

I have driven a company car for the last 12 years so I am completely lost when it comes to what an acceptable price to pay is. I am looking at the RX350 and I received an offer of $2500 down on an msrp of 52k 36 month lease and 12 miles per year with a payment of $510 per month. I don't know what the residual or money factor is. Any insight on what I should  expect to pay for this car for a lease would be greatly appreciated. I live in New York City.