Car Buying Advice - Is it a good deal on a 2017 RX 450h?

hangyu1214

Hello, New to the forum. Just leased a RX450h from Rockville,MD. I live in McLean, VA.
MSRP : $58,163
Negotiate Price(with 500 dollar rebate): $51,363
Doc fee : $300
Tax : $2,144.01
Non Tax Fees: $1,032
Total balance: $54,839.01

With 0 down and Tax and fees rolling in, I have $652 for 39 months(12,000 miles)
The financial guy told me the Residual value is 61% ($35,479 to buy off after the lease end), I don't know the money factor.
And since my credit score is average, my final payment ended up at $696.25
1. Is this a good deal?
2. From Lease Agreement, they remarked the Estimated official Fees and Taxes from $2310.18 to $7506.88. What does this mean?
3. How much property tax do I need to pay in the future?

kyfdx

hangyu1214 said:

kyfdx said:

hangyu1214 said:

Hello, New to the forum. Just leased a RX450h from Rockville,MD. I live in McLean, VA.
MSRP : $58,163
Negotiate Price(with 500 dollar rebate): $51,363
Doc fee : $300
Tax : $2,144.01
Non Tax Fees: $1,032
Total balance: $54,839.01

With 0 down and Tax and fees rolling in, I have $652 for 39 months(12,000 miles)
The financial guy told me the Residual value is 61% ($35,479 to buy off after the lease end), I don't know the money factor.
And since my credit score is average, my final payment ended up at $696.25
1. Is this a good deal?
2. From Lease Agreement, they remarked the Estimated official Fees and Taxes from $2310.18 to $7506.88. What does this mean?
3. How much property tax do I need to pay in the future?

1) Without knowing the money factor, and your credit tier, no way to know for sure. With the base MF of .0011, I get $596/mo. It's possible they marked up your money factor, in addition to the bump for lower credit tier.
2) Truth in lending laws make them estimate the total taxes and fees over the life of the lease. It really doesn't mean anything
3) No way for us to know your local property taxes

they use equifax , and my score is 697 which is the fourth tier. They kicked me up to the third tier. Which brought my payment from $652 to $696

I show .00245 MF and $717/mo. with those numbers. That's off, but not way off.
It's expensive to lease with less than top tier credit.

kyfdx

hangyu1214 said:

Hello, New to the forum. Just leased a RX450h from Rockville,MD. I live in McLean, VA.
MSRP : $58,163
Negotiate Price(with 500 dollar rebate): $51,363
Doc fee : $300
Tax : $2,144.01
Non Tax Fees: $1,032
Total balance: $54,839.01

With 0 down and Tax and fees rolling in, I have $652 for 39 months(12,000 miles)
The financial guy told me the Residual value is 61% ($35,479 to buy off after the lease end), I don't know the money factor.
And since my credit score is average, my final payment ended up at $696.25
1. Is this a good deal?
2. From Lease Agreement, they remarked the Estimated official Fees and Taxes from $2310.18 to $7506.88. What does this mean?
3. How much property tax do I need to pay in the future?

1) Without knowing the money factor, and your credit tier, no way to know for sure. With the base MF of .0011, I get $596/mo. It's possible they marked up your money factor, in addition to the bump for lower credit tier.
2) Truth in lending laws make them estimate the total taxes and fees over the life of the lease. It really doesn't mean anything
3) No way for us to know your local property taxes

hangyu1214

they use equifax , and my score is 697 which is the fourth tier. They kicked me up to the third tier.

hangyu1214

kyfdx said:

hangyu1214 said:

Hello, New to the forum. Just leased a RX450h from Rockville,MD. I live in McLean, VA.
MSRP : $58,163
Negotiate Price(with 500 dollar rebate): $51,363
Doc fee : $300
Tax : $2,144.01
Non Tax Fees: $1,032
Total balance: $54,839.01

With 0 down and Tax and fees rolling in, I have $652 for 39 months(12,000 miles)
The financial guy told me the Residual value is 61% ($35,479 to buy off after the lease end), I don't know the money factor.
And since my credit score is average, my final payment ended up at $696.25
1. Is this a good deal?
2. From Lease Agreement, they remarked the Estimated official Fees and Taxes from $2310.18 to $7506.88. What does this mean?
3. How much property tax do I need to pay in the future?

1) Without knowing the money factor, and your credit tier, no way to know for sure. With the base MF of .0011, I get $596/mo. It's possible they marked up your money factor, in addition to the bump for lower credit tier.
2) Truth in lending laws make them estimate the total taxes and fees over the life of the lease. It really doesn't mean anything
3) No way for us to know your local property taxes

they use equifax , and my score is 697 which is the fourth tier. They kicked me up to the third tier. Which brought my payment from $652 to $696

hangyu1214

kyfdx said:

hangyu1214 said:

kyfdx said:

hangyu1214 said:

Hello, New to the forum. Just leased a RX450h from Rockville,MD. I live in McLean, VA.
MSRP : $58,163
Negotiate Price(with 500 dollar rebate): $51,363
Doc fee : $300
Tax : $2,144.01
Non Tax Fees: $1,032
Total balance: $54,839.01

With 0 down and Tax and fees rolling in, I have $652 for 39 months(12,000 miles)
The financial guy told me the Residual value is 61% ($35,479 to buy off after the lease end), I don't know the money factor.
And since my credit score is average, my final payment ended up at $696.25
1. Is this a good deal?
2. From Lease Agreement, they remarked the Estimated official Fees and Taxes from $2310.18 to $7506.88. What does this mean?
3. How much property tax do I need to pay in the future?

1) Without knowing the money factor, and your credit tier, no way to know for sure. With the base MF of .0011, I get $596/mo. It's possible they marked up your money factor, in addition to the bump for lower credit tier.
2) Truth in lending laws make them estimate the total taxes and fees over the life of the lease. It really doesn't mean anything
3) No way for us to know your local property taxes

they use equifax , and my score is 697 which is the fourth tier. They kicked me up to the third tier. Which brought my payment from $652 to $696

I show .00245 MF and $717/mo. with those numbers. That's off, but not way off.
It's expensive to lease with less than top tier credit.

Thank you!

easypar

Nice discount. I just leased a 450h in Colorado, close to the same msrp and I got a total of about $3,000 off, including the $500. I had a 2014 bmw I traded in for $21,000 and did a one payment lease for about $3,400. Our taxes in Colorado are different than Virginia. Nice negotiating on the price.

hairysoda

Please what is tbe money factor and residual on s 2017 rx450h and are there any rebates

kyfdx

hairysoda said:

Please what is tbe money factor and residual on s 2017 rx450h and are there any rebates

Lexus numbers are regional. Which state?
What term and mileage?

srini31

Hi ,
is this a good deal for lease i am getting from dealer in PA .

RX 450h

308-hp 3.5L V6 Hybrid
Continuously Variable
All-Wheel Drive
Eminent White Pearl
Noble Brown Leather
BASE MODEL
$53,035
Packages and Options
$1,800
20" Gray Metallic Machined Finish Alloy Wheels
$1,170
Navigation System W/12.3" Color Multimedia Display
$430
Touch-Free Power Rear Door
$200
Manufacturer Destination Charge
$995
MSRP (STICKER PRICE)
$55,830
Dealer Discount
−$3,679
LEXUS PRICE
$52,151
Trade-In Value Applied
–$6,500
Manufacturer Rebate
−$1,800
Term
36 months
Annual Mileage
12,000
Residual Value (56%)
$31,265
TOTAL DUE AT SIGNING
$3,750
First Month's Payment $432
Registration & Fees $748
Sales Tax $909
Capitalized Cost Reduction $8,161
Trade-In Applied −$6,500
MONTHLY PAYMENT
$431.74

Michaell

srini31 said:

Hi ,
is this a good deal for lease i am getting from dealer in PA .

RX 450h

308-hp 3.5L V6 Hybrid
Continuously Variable
All-Wheel Drive
Eminent White Pearl
Noble Brown Leather
BASE MODEL
$53,035
Packages and Options
$1,800
20" Gray Metallic Machined Finish Alloy Wheels
$1,170
Navigation System W/12.3" Color Multimedia Display
$430
Touch-Free Power Rear Door
$200
Manufacturer Destination Charge
$995
MSRP (STICKER PRICE)
$55,830
Dealer Discount
−$3,679
LEXUS PRICE
$52,151
Trade-In Value Applied
–$6,500
Manufacturer Rebate
−$1,800
Term
36 months
Annual Mileage
12,000
Residual Value (56%)
$31,265
TOTAL DUE AT SIGNING
$3,750
First Month's Payment $432
Registration & Fees $748
Sales Tax $909
Capitalized Cost Reduction $8,161
Trade-In Applied −$6,500
MONTHLY PAYMENT
$431.74

We do not recommend using trade equity to buy down the payment - that money would be lost if the car is stolen or totaled.

Ask the dealer what adjusted cap cost they are using for that payment quote, and have them requote you using the trade equity for only the first payment and any registration costs.

srini31

Thanks .i am planning to goto dealer and talk with him this weekend .
Currently i am getting these from his online site as its a upfront pricing dealer .
what no.s i need for calculating adjusted cap cost ?

This is the quote i see when i remove trade in costs

RX 450h

308-hp 3.5L V6 Hybrid
Continuously Variable
All-Wheel Drive
Eminent White Pearl
Noble Brown Leather
BASE MODEL
$53,035
Packages and Options
$1,800
20" Gray Metallic Machined Finish Alloy Wheels
$1,170
Navigation System W/12.3" Color Multimedia Display
$430
Touch-Free Power Rear Door
$200
Manufacturer Destination Charge
$995
MSRP (STICKER PRICE)
$55,830
Dealer Discount
−$3,679
LEXUS PRICE
$52,151
Manufacturer Rebate
−$1,800
Term
36 months
Annual Mileage
12,000
Residual Value (56%)
$31,265
TOTAL DUE AT SIGNING
$0
First Month's Payment $735
Registration & Fees $764
Sales Tax $36
Capitalized Cost Increase $-1,536
MONTHLY PAYMENT
$735.38

Registration & Fees include $55.75 DMV fee, $138 documentation fee, $5 tire fee, $15.15 electronic filing fee, $389 processing & handling fee and $76 local tax. Security deposit waived. The capitalized cost of your lease is the Lexus of Lehigh Valley Price plus $795 lease acquisition fee.

Payment subject to approval of credit with a credit score of 720 or higher and includes all taxes and fees and any manufacturer rebates. The monthly payment includes $55 sales tax and $795 lease acquisition fee paid over 36 months. At the end of your lease, a $350 disposition fee may be due.
12,000 miles per year with $0.25 per mile overage charge.

kyfdx

srini31 said:

Thanks .i am planning to goto dealer and talk with him this weekend .
Currently i am getting these from his online site as its a upfront pricing dealer .
what no.s i need for calculating adjusted cap cost ?

This is the quote i see when i remove trade in costs

RX 450h

308-hp 3.5L V6 Hybrid
Continuously Variable
All-Wheel Drive
Eminent White Pearl
Noble Brown Leather
BASE MODEL
$53,035
Packages and Options
$1,800
20" Gray Metallic Machined Finish Alloy Wheels
$1,170
Navigation System W/12.3" Color Multimedia Display
$430
Touch-Free Power Rear Door
$200
Manufacturer Destination Charge
$995
MSRP (STICKER PRICE)
$55,830
Dealer Discount
−$3,679
LEXUS PRICE
$52,151
Manufacturer Rebate
−$1,800
Term
36 months
Annual Mileage
12,000
Residual Value (56%)
$31,265
TOTAL DUE AT SIGNING
$0
First Month's Payment $735
Registration & Fees $764
Sales Tax $36
Capitalized Cost Increase $-1,536
MONTHLY PAYMENT
$735.38

Registration & Fees include $55.75 DMV fee, $138 documentation fee, $5 tire fee, $15.15 electronic filing fee, $389 processing & handling fee and $76 local tax. Security deposit waived. The capitalized cost of your lease is the Lexus of Lehigh Valley Price plus $795 lease acquisition fee.

Payment subject to approval of credit with a credit score of 720 or higher and includes all taxes and fees and any manufacturer rebates. The monthly payment includes $55 sales tax and $795 lease acquisition fee paid over 36 months. At the end of your lease, a $350 disposition fee may be due.
12,000 miles per year with $0.25 per mile overage charge.

If we take the discounted price, subtract the rebate, add the $1536 for 1st payment and registration/fees, add the $795 for acquisition fee, I get an adjusted CAP of $52682.
If I use .00020 as the money factor, I get a payment of $617/mo.+tax.
Even at 10% tax, they are $57/mo. higher than that. It's possible that a marked up money factor might be part of their ad price. (or, if that price doesn't include tax, it's really, really high).

srini31

Thanks ,so what is the money factor i should be looking for ,i have excellent credit (>760)

kyfdx

srini31 said:

Thanks ,so what is the money factor i should be looking for ,i have excellent credit (>760)

.00020 MF

srini31

hi, the dealer is offering me .00020 mf with 56% residual value .is it a good deal ,i am in PA 

kyfdx

srini31 said:

hi, the dealer is offering me .00020 mf with 56% residual value .is it a good deal ,i am in PA 

The residual isn't negotiable. 56% is correct for 36/12

I can't tell you if it's a good deal, just based on the money factor.

srini31

thanks for the reply .i just read that 2018 rx450h has base model price reduced by 7500 today .so should i just wait it out

Michaell

srini31 said:

thanks for the reply .i just read that 2018 rx450h has base model price reduced by 7500 today .so should i just wait it out

You believe everything you read on the internet?

(if you have a link, feel free to post it)

I'd confirm that before making a final decision.

srini31

2018 Lexus RX450h is way cheaper than the 2017 model - Autoblog

https://search.app.goo.gl/8W47

kyfdx

srini31 said:

2018 Lexus RX450h is way cheaper than the 2017 model - Autoblog

https://search.app.goo.gl/8W47

I guess we'll see. Edmunds doesn't have pricing posted, yet.

Generally, those sorts of adjustments are made up by smaller dealer discounts and lower rebates.