Car Buying Advice - March 2017 RX 350 Lease Price- California

thomasnash09

Hello Everyone! I am looking for someone to review my numbers and tell me if I am on track!

2017 Base Model RX 350- Average Price on True Car = $40,520 (Zip code 90278)

Using Calculator.net:
Auto Price 40520
Lease Term 36months
Money Factor: 0.00123
Down Payment 5000
Trade-in Value 0
Sale Tax 9%
Residual Value: 26338 (I used 65%, can some one confirm this?)

Monthly Lease Payment: $360.94
Monthly Depreciation $255.06
Monthly Interest $76.09
Monthly Tax $29.80
Money Factor Equivalent APR 2.95%
Upfront Payment $5,000.00
Total 36 Lease Payments $12,993.97
Total Cost to Own $46,702.39

Any comments would be GREATLY appreciated! Thanks!

kyfdx

thomasnash09 said:

Hello Everyone! I am looking for someone to review my numbers and tell me if I am on track!

2017 Base Model RX 350- Average Price on True Car = $40,520 (Zip code 90278)

Using Calculator.net:
Auto Price 40520
Lease Term 36months
Money Factor: 0.00123
Down Payment 5000
Trade-in Value 0
Sale Tax 9%
Residual Value: 26338 (I used 65%, can some one confirm this?)

Monthly Lease Payment: $360.94
Monthly Depreciation $255.06
Monthly Interest $76.09
Monthly Tax $29.80
Money Factor Equivalent APR 2.95%
Upfront Payment $5,000.00
Total 36 Lease Payments $12,993.97
Total Cost to Own $46,702.39

Any comments would be GREATLY appreciated! Thanks!

Residual is a percentage of MSRP, not the selling price.
What is the MSRP?

thomasnash09

MSRP: $45,054

kyfdx

thomasnash09 said:

MSRP: $45,054

Residual is 60%, 62% or 63% for 15K, 12K or 10K/yr, 36 months
Base money factor is .00110

thomasnash09

what is a reasonable amount for the service package?

kyfdx

thomasnash09 said:

what is a reasonable amount for the service package?

Sorry, we don't have any info on add-ons in the F&I office. Most of the stuff they sell in there is overpriced.