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2013 and earlier Lexus RX 350 / RX 450h Lease Questions
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2008 Lexus RX350 AWD
MSRP: $49,036.00(Rear-seat DVD, 18" seven spoke wheels, Multi-stage heated front seats w/rain sensing wipers, tow package, Nav/Mark Levinson package, cargo mat, wheel locks)
Gross Cap Cost: $42,741.00(negotiated price before any other fees)
Adjusted Cap Cost: $43,341.00($600.00 Aquisition)
Residual: $27,460.16 (56%)
Money Factor: .00195 (4.68%)
Drive off's: $1,038.57($639.33 first payment, + $342.00 title, reg, lic. fees + $45.00 doc fee + $8.75 Ca. tire fee, $3.49 doc fee tax)
36 mo./15,000 miles
Payment: $593.35 plus taxes of $45.98 = $639.33
Anybody who walks into a dealership blind is a fool. Buying a vehicle through the internet is the only way to go as you can obtain multiple quotes with absolutely no pressure.
If you are going to lease you need to be armed with the following information:
- knowing the residual for the time and miles of the lease
- knowing the buy rate(money factor for top tier credit)(dealerships can mark up the money factor to increase their profit)
- knowing the invoice price(so you can negotiate a fair price)
I was able to get all the above information from looking through prior messages posted here. Also, Edmunds and KBB.com were good for obtaining invoice pricing.
Hope my experience helps. Knowledge is power!! :shades:
Does any one know the residual on this car? (53%?)
Thanks
Do you or does anyone know what money factor LFS if offering right now? I was quoted 0.00325 which seem a bit high, probably marked up.
I was offered a lease on a 2007 Lexus RX 400h AWD with a 0.00325 money factor and 52% residual. I'm guessing th money factor is marked up. Do you know what the appropriate deal should be? The retail plus accessories(well equipped) is $49965 with a $3000 discount making the purchase price 46965.
3 year 36000 mile lease.
MSRP 48,306
Actual cost: 43,587
Money factor 0.00245
Residual (53%)25,602
Drive off: 1137
Monthly payment: $742
Seems like a pretty good deal. Price is close to invoice.
Any advice?
I simply emailed the internet sales dept of several local lexus dealers and this is the best deal offered to me so far. I have not negotiated at all. I appreciate straight forward dealings, so, if no one else beats it, I will probably just give them their price as opposed to haggling for an additional couple of hundred dollars. I have yet to talk to any salespeople in person or by phone (other than the test drive) and plan to keep it that way if possible.
I will give them the final okay in the morning and they will deliver the car to my house tomorrow afternoon. Overall, I'm very happy with the deal, however, one always thinks that there is a better deal out there. No fuss, no muss, never stepped into the showroom.
Carman and others: do you think this is a good deal for this car or would I be wiser to wait for the newest lease deals later this month. I am not in a rush to purchase the car, but I do tend to jump at a good deal when it is offered.
When I work the numbers backwards I get that, including sales tax, the monthly pmt should be about 575/mo...that's using what they quote as MSRP, selling price, MF and residual. When I asked the dealer to show me how 585 was arrived at, and showed my math, I got the run-around.
What do you think of what's on the table? What's a "good deal" on what I'm looking for in my area. Better to hold out 'til end of month?
Thanks to all -
Thanks for your reply -
I was just offered 2 deals and don't know how they stack up in todays market. I think it's a good deal, but dunno if it is the best one i can drive. so here goes:
1- 2007 rx400h 2wd With the Premium Package and Navigation, heated seats
MSRP: $48,365
my price: $43,822 Plus Fees
36 Month Lease & 12,000 Annual Miles
.00245 Money Factor
$3,500 out of pocket
Monthly Payment: $675.40
The residual value would be 52%
2- 2007 AWD RX400H
With the Premium Package, Navigation and Mark Levinson
MSRP: $51,346
my Price: $46,294 Plus Fees
36 Month Lease & 12,000 Annual Miles
.00245 Money Factor
$3,500 out of pocket
Monthly Payment: $700.01
Residual value of 53%
so?? is this a good deal? it is about $500 over invoice.
I am leasing a 2008 Lexus RX 350 FWD with the
navigation system,
premium plus package,
tow hitch receiver,
all weather mats,
all windows tinted,
a full size spare tire,
1 year of AAA for lexus.
for $43,500.00. Interest rate at 4.68 %. Money factor of .003. This is with $3300.00 down and $12000.00 for trade in at 48 months.
Monthly payment of $250.00.
Oh yeah this is out the door with everything included.
Is this a good deal?
MSRP: $44,146.00
Invoice: $39,270.39
Down Payment (including registration, tax, title): $2000.00
Residual: 19,866.00
Term: 48 months
Mil: 15000 per year
Monthly Payment (with taxes): 550.00
Money Factor: 0.0017
I absolutely love the car!! I am based in Riverside, CA and bought the car from Newport Lexus!!
2008 RX 350, Premium Package, 18 inch alloys, heated front seat with rain sensing wipers, cargo mat, wheel locks, MSRP 41,496. Invoice $37103 (looking at Edmunds). Agreed upon price of vehicle 36488 + 600 acquisition fee(delivery charge). Gross capitalized cost $37,087, money factor .00195 (lowest),
$6395 down, $357 a month. 36 month lease, 12k miles/yr
Not bad for an '08 Lexus RX350. I think it's a good deal. The salespersons probably thought we were hard bargainers (putting it lightly), but surprisingly they did not show attitude or get pissed like at other dealerships.
Keyes Lexus is much better than Longo Toyota. Let me know if you agree and what you think of my lease deal.
that works out to be .0017 x 24 = 4.08% which is the lowest I've seen. Maybe only available on a 48 mo lease
Car_man
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Let's work up a lease payment on this truck using Lexus Financial Services' current lease program and see what we come up with. According to my calculations, if you were to lease a 2007 Lexus RX 350 AWD without the entertainment system that has an MSRP of $40,500 and a selling price of $38,000 (I think that there is a good chance that you can do better than that) through LFS right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $544. 15,000 miles per year is the highest mileage allowance that LFS publishes residual values for. If you need to drive more than this, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until the scheduled end of your lease and have to pay an excess mileage penalty.
Car_man
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Car_man
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Car_man
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Car_man
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Car_man
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Also, the money factor that is being used to calculate your truck's monthly payment is too high. Lexus Financial Services' current buy rate lease money factor for a 36 month lease of a 2008 RX 350 is only .00195 for consumers who qualify for its "Tier 1+" credit tier. Make sure that is the factor that the dealer you are working with uses to calculate your truck's payment.
Car_man
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Car_man
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2008 AWD Lexus RX-350
Premium Plus
No Nav
MSRP 41,746
Invoice 37, 511
I offered 38,511. They countered with 39,011 with a money factor of .00175 and a residual of 20,038. Sounds great.....but then they said they have a $600 bank fee to Lexus Financial for the lease. That pretty much takes away the negotiated discount.
Is that a legitimate fee??
I am frustrated because every time I make an offer, they come back agreeing to part of it, then add the money somewhere else. Has anyone else had to haggle for a week plus with these Lexus dealers? I'm getting tired of this but don't want to pay more than I should. Can anyone give me advice???? The sales guy said that Lexus just doesn't sell cars less than $1500 above invoice.
I am also in columbus, have been shopping around since about january and its been pretty challenging finding a good deal in columbus. I just signed on a 2008 (AWD and NAV) for $41200 from Woodfield lexus in chicago which also included the $600 fee. I am pretty sure this is standard. I also agree with CPA3. I too did everything over the phone and the internet. Made the whole ordeal much easier till i was commited and ready to sign.
Good luck! You're going to love your ride. Lexus takes care of you. Im pretty sure im lexus for life now!
-=zg
2008 RX 350 AWD with the Premium Plus Package - Luxury Value Edition with additional options. The base price of the car is $38,800 + Options $6,191 + Delivery and Handling $715 = MSRP $45,706. The dealer cost is approx 39,838 and I would hope to pay $41,000.
I would be in the top credit category (tier 1), I believe is .00195, My out of pocket will be $3,000 at time of lease, NJ sales tax of 7%, assume a residual of 56%. I wanted to know the monthly lease amount with tax.
If there is another piece of information which is needed, please let me know. Thank you so much for your help.
What are most people paying 36 month, 10K per year.
What are most people paying 36 month, 10K per year.
I am assuming you are doing 15K miles since the residual is 56%. 12K is 58%.
Net Capital Cost:
Taxes (Net Cap Cost - Residual + Rent Charge X 7%
Acquisition Fee (Bank Fee)- I think it's $600 for Lexus
Gross Capital Cost( Net Cap Cost + Taxes + Acquistion Fee):
Capitalized Cost Reduction (includes rebates, down payment, incentives): in your case $3,000
Adjusted Capital Cost(Gross Cap Cost - Cap Cost Reduction):
Residual Value (56% of the base MSRP)
Depreciation/Amortized Amounts (Adjusted Capitalized Cost - Residual):
Rent Charge (Lease Charge) - Net Cap Cost + Residual X Term X Money Factor .00195:
Total of Base Monthly Payments (Depreciation + Rent Charge):
Lease Payments - # Months
Monthly Payment:
It's a little confusing but it will give you your monthly payment.
Again, the MSRP is $45,600, negotiated price $41,000, top tier credit .00195, taxes 7%, 36 mont lease, 12k miles/yr.
Thanks so much, your help is greatly appreciated.
RX 350 36 mo lease, 12k miles, w/prem+ and other options
MSRP $43K
selling price $39.2k
resid $24.9k (58%)
Money factor .00205
no cap reduction
taxes paid upfront
Other fees: Docs ($199), Reg ($193), Acquisition ($600)
Monthly lease fee $524
Thanks for your thoughts.
2008 AWD with Prem Plus + Navigation
MSRP=$45,706
Selling Price=$41,745
39 Mo Lease with 15 K per year
Dealer aquisition fee=$600
Document Fee=$263
Tax & DMV upfront
Total out of pocket at purchase=$3,763.40
MOnthly Payment=$595.00
Your thoughts????????? This is in Northern NJ.
Thanks!!!!
Premium Plus Package
48 month lease
residual 48%
12K
0,00195
No money down, only fees and taxes
He did not want to tell me selling price, but said
it is a little over invoice and he left some space for negotiation.
How good is the deal sound considering it is for 48 months?