IIRC it was right at $42,000. From what I have read on this board it sounds like a good deal, and the dealership I went to needs to move some units before January 2nd so they are being aggressive.
Thanks, I know how to calculate leases. I can let you know how good the deal is. Please let me know the following piesces of information:
List Price: $42,000 (is this the exact amount) Purchase price: (this is part of the formula for how the lease is calculated. Residual %: I think its 56% for 3yrs, 12k miles/yr. State Tax %
With this information, I can let you know what the monthly amount should be. I would be interested to know close the purchase price is to the invoice price.
Here's what I've been offered. I've learned that if you apply for Lexus credit through the Lexus website, you can lock into the 'December Remember' rates for 30 day period.
Philadelphia area. This is a lease through Lexus Financial...
-- MSRP $43,121.00 Selling price $39,300.00 ($500 over invoice)
Money down (includes first payment) $779 Monthly payment with tax $572.79
10K miles/36 Months Residual value $24,578.97 (57%)
Hello All, I have been watching this forum and I can tell you that all these messages have been really helpful. We just took delivery of our new RX 350 and are pleased to say that we closed the deal that we negotiated with Lexus of Massapequa. They are Great about not playing any games once the deal is done!
Here are the the stats: 2008 RX 350 lux + NAV, MSRP 45771.00 CapCost = $40448.00 12k Miles 36 month 56% residual .00155 money factor (710 FICA) $3000 + 1st payment of $514(includes tax, bank fee, etc)
Are we satisfied? Very much so. Quite too often dealers try and screw you somewhere in the deal (usually finance).But this dealer did not. This is our first RX and we very satisified.
i almost leased an rx350 with msrp of 45,550. the dealers final offer before i left was $520 a month (includes tax), $2000.00 total drive off, 15k miles a year, 36 months. good deal, but my wife wanted an mazda cx9!!! tustin california
Is there any way you could post the money factor and residual the dealership gave you?? I cant find the january special rate anywhere on the internet. That deal you were offered sounds good to me (dont know about taxes etc).
I am looking at a 08 rx350 AWD, prem plus and nav. Would like to lease for 36 months, 12k miles per year. Can you tell me the current money factor and residual? Thanks. I have read dealers are pushing these out the door and selling for below invoice in California. Does anyone know if this is true for New Jersey?
I leased an 08 RX350 AWD on 1/21/08. I live outside of DC. NAV, prem plus, 18 inch wheels, towing pkg and trunk mat I believe.
MSRP 45880 Sales price: 41500 which included all fees ($1064) MF: .00165 - they told me this was the best rate going, Tier 1+ (735 Fico score) Residual: 54% (12K miles a year)
Hey. I just got a quote from a miami dealership for the 2008 RX350 - premium package - 12k miles/36 mos., $5k total down (including first month); $354 a month... good deal??
leasefax.com has a add in the wall street journal with lease rates under $500 per month for 36 months on the rx350 including delivery plus tax and title. i called them and the guy said this price was on the rx with premiun plus ($40,000-41000) . has anyone had any dealings with this company?.
arbitrage1 - I would agree with you that some third parties are shady, but there are some very strong auto brokers trying to help customers receive aggressive prices by utilizing volume incentives and strong dealer networks. I have had some good experiences in the past and am more than willing to pay a small fee to have a third party negotiate with local dealers to get me a fair price.
Congratulations on getting your new RX 350, Scott. I;m glad that you found this discussion so helpful. Thanks for taking the time to stop back and share the details of your lease with everyone. Real world examples like this are always helpful to others who are in the market for similar vehicles. Make sure to stop by the new Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience. Enjoy your new ride :shades: .
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Here you go, jebell. Lexus Financial Services' current buy rate lease money factor and residual value for a 2008 Lexus RX 350 AWD without the entertainment system with 12,000 miles per year are .00140 and 55%, respectively for consumers who qualify for its Tier 1+ credit tier.
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Hey jebell. Please see my previous post for the information on this truck's lease program that you're interested in. Lexus is not currently providing any cash incentives on leases of the RX 350, so it may be difficult to get one with a capitalized cost that's below dealer invoice. Like California, New York area is a very competitive marketplace for new vehicles. If I was interested in leasing an '08 RX 350 in your area, I personally would shoot for a selling price of a couple hundred dollars over invoice.
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Congratulations on getting your new RX 350, arbitrage1. Thanks for taking the time to share the details of your lease with everyone. Don't forget to stop by the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on the dealer that you got your truck from. Thanks again and enjoy your new Lexus.
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Hi gabe57v. Let me begin by saying that $5,000 is a lot of money to put down on a lease. I always advise consumers not to make large down payments when leasing. Those who make them risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered. You would be better off going with a zero down lease, even though it means that your monthly payment will be higher.
As far as this lease goes, it is difficult to tell how good a deal you are getting without knowing what this truck's MSRP and selling price are. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. If you are in an area that has a decent level of competition, you should shoot for a selling price of a couple hundred dollars over dealer invoice. You can look up the invoice price of the exact model that you want by visiting the New Vehicle Pricing section of Edmunds.com.
Once you have negotiated a selling price that you are comfortable with, have the dealer that gives it to you calculate your vehicle's monthly payment using Lexus Financial Services' buy rate lease money factor. LFS' current buy rate for a 36 month lease of an '08 RX 350 is .00140 for consumers who qualify for its Tier 1+ credit tier.
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Hello bmwnj2. Here's the information that you're looking for. Lexus Financial Services' current buy rate lease money factor and residual value for a 2008 Lexus RX 350 AWD without the entertainment system with 12,000 miles per year are .00140 and 61%, respectively. The numbers for an otherwise identical 36 month lease are .00140 and 55%.
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Hey bmwnj2. The last time that I checked, Lexus Financial Services did still offer a MSD program. If provides a .00010 money factor reduction for every extra deposit made, up to a maximum of nine.
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Thank you very much. I am very thankful to have found this forum. Two dealers in NJ have told me the buy rate is .00165 and their encore rate is .00155. Do I call them on it or could have the Lexus dealers in NJ agreed to this rate?
i too have been getting this run around. what dealers are you working with? when i called them out they said the .00140 hasn't been around since dec 06
Thank you to everyone for the information on leasing the 2008 Lexus RX 350. We have been scratching our heads for the past week trying to figure out why the lease payment the dealer is quoting us is $638 (including taxes) when he says he is selling us the RX 350 at invoice ($38,600 for an AWD vehicle without nav or rear entertainment). The MSRP for this particular vehicle is $43,800. Here in Utah, we can only choose from 2 different packages. All vehicles sold in Utah are AWD with or without navigation. He says this monthly payment of $638 is based upon a money factor of .00255 and a residual of 58%. This money factor seems incongruent to the actual rate he quoted. He commented that my credit score qualifies for the top tier and that the associated interest rate is in the high 3's. This is also quite different from the money factor that I have been seeing on this site (.00144). Even when I crunch the numbers with the higher money factor, it doesn't crunch out to a payment of $638. I have also been reading on this site that Lexus Financial does not have a very good lease program. Help!! Maybe it is better to buy than to lease.
prestige. now the sales manager has been in contact with me and they keep insisting the MF was .00140 over a year ago. He is using .00165. i don't NEED to do anything today, next week or even next month. They started at 568 w/tax for 12000 miles and just inceptions upfront. now he came back with 538 which is still too much. how about u?
I thought I'd check back in to share our experience with leasing the 2008 AWD RX350. Since we had not been able to make sense of the lease payment we made the decision to purchase the vehicle outright. That is, until we sat down with the finance manager. As it turns out, the computer at the dealership automatically pulled up 2009 money factors. This is why the payment they were quoting us over the phone was so much higher than what we were calculating (using the money factor and residuals posted on this site). When they plugged in the correct 2008 money factor the payment was lowered by $55 per month. So in the end we were able to get the vehicle at invoice ($38,600), 12K miles and a monthly payment of $579. So the moral of this story is Caveat Emptor!
Christina: I have been following your posts. Are you saying that Prestige has offered the RX (no nav) for 538 NJ tax included with nothing but first month, bank, TTL at 12,000? This strikes me as close to as good as it can get, give or take around $10 a month. Let me know your thoughts
im looking for the best lease price i can find for the 2008 rx 350, 12,000 miles, tax included with navigation. Im pretty sure im getting ripped off with $653 a month for 36 months but im really not sure. thanks!
I was quoted a lease price of $600 a month (tax included) for a 2008 RX350 AWD with Premium Plus, Navigation, Rear Entertainment, 18" 5-spoke Aluminum Wheels, Heated Front Seats/Rain Sensing Wipers/Headlamp Washers, Towing Prep Package, Wheel Locks, and Cargo Mat. Lease offer is 39-month, 10K miles/yr.
I'm located in the New York/New Jersey aread. Is $600 a good lease price for this package? They started at $675. Thanks.
yes, you were right about the 12k miles 36 months $0 down just inceptions with tax included from Prestige.
the way i see it is we have an 05 mdx with the same msrp and identical lease terms that we lease for 484. there was one more model year after that before the body change, same as this rx.the price of these trucks havent changed at all during the past few years, so I would wait for the 09 if you're not in a rush to do something. I'm sure that we can get the same deals, if not better.
the msrp was 42945 and their selling price was 38700. they kept telling me that the MF hasn't been out since 06 which was making me crazy. i was doing calculations and if they used the .00140 and sold the car for 38000 or something the price would be 498. i told the salesmanager i didn't want to pay the 538 and he goes where would you like to be under 500...490.498?He said the exact number so I'm sure that they could do that deal. I may be wrong about the selling price that they used and what I thought they should use, but I will post it again when I find the sheet I had it on. Have you had any luck??
I'm seeing who's interested in taking over a (17month) lease on an 2007 RX350 AWD fully loaded mint condition. I negotiated a great deal but would like to go back to a sports car.
MSRP: $47K Payments: $567 including tax Months remaining: 17 Current Mileage: 13,350 (36,000 allowed for the lease) Miles Allowed per month: 1,332 Location: Santa Monica, CA Jet Black with Tan interior Navigation Bluetooth Heated Power Seats and Power Rear door Moonroof, Woodgrain Steering Wheel Backup Camera All scheduled service has been performed at the Lexus dealer. No scratches or wear, has never been smoked in, garage kept.
Just noticed the current "Special Lease Offer" on the Lexus website. It says:
Now through March 31st, special leases are available on the stylish RX and the technologically advanced RX Hybrid. For details, see your Lexus dealer.
Does anybody know money factor, residual, and most of all, what a lease payment would be like in southern California at this time for a well equipped RX400h at 15,000 miles a year, 36 months? Any help would be appreciated : )
While this is the advertised lease, I am not sure if the SoCal dealers are quoting these prices. Please let us know if you get the same or better deal from a local dealer.
Comments
List Price: $42,000 (is this the exact amount)
Purchase price: (this is part of the formula for how the lease is calculated.
Residual %: I think its 56% for 3yrs, 12k miles/yr.
State Tax %
With this information, I can let you know what the monthly amount should be. I would be interested to know close the purchase price is to the invoice price.
MSRP $41635
Sales price $37465
Money factor .00135
$499 Lic, trans....
$1500 down
3 year lease at $507.74 for 12K in miles per year
Thanks for looking at this.
Philadelphia area. This is a lease through Lexus Financial...
--
MSRP $43,121.00
Selling price $39,300.00 ($500 over invoice)
Money down (includes first payment) $779
Monthly payment with tax $572.79
10K miles/36 Months
Residual value $24,578.97 (57%)
Money factor is 0.001550
---
MSRP 41,816.00
Sale Price 37,298
Lease Rate $601 due at signing first month and fees.
Monthly Rate 530 a month tax included
12k/36 months
Got This Deal at JM LEXUS
I have been watching this forum and I can tell you that all these messages have been really helpful. We just took delivery of our new RX 350 and are pleased to say that we closed the deal that we negotiated with Lexus of Massapequa. They are Great about not playing any games once the deal is done!
Here are the the stats:
2008 RX 350 lux + NAV, MSRP 45771.00
CapCost = $40448.00
12k Miles
36 month
56% residual
.00155 money factor (710 FICA)
$3000 + 1st payment of $514(includes tax, bank fee, etc)
Are we satisfied? Very much so. Quite too often dealers try and screw you somewhere in the deal (usually finance).But this dealer did not. This is our first RX and we very satisified.
Happy New Year!
Scott
When I use the lease calculator, I am getting $499/ month vs your amount of $514.
What do the up front fees add up to? I used $1145. (For Bank Fee, registration, license, etc).
Can you tell me the current money factor and residuals for a 08 rx350 with prem plus and nav. 12k/yr 36 months.
Thanks
e
Is there any way you could post the money factor and residual the dealership gave you?? I cant find the january special rate anywhere on the internet. That deal you were offered sounds good to me (dont know about taxes etc).
AWD?
Premum?
Navigation?
etc?
thanks...
I am looking at a 08 rx350 AWD, prem plus and nav. Would like to lease for 36 months, 12k miles per year. Can you tell me the current money factor and residual? Thanks.
I have read dealers are pushing these out the door and selling for below invoice in California. Does anyone know if this is true for New Jersey?
Could you please answer post #829 if you can? Thanks.
MSRP 45880
Sales price: 41500 which included all fees ($1064)
MF: .00165 - they told me this was the best rate going, Tier 1+ (735 Fico score)
Residual: 54% (12K miles a year)
Love the car.
Take a look at this web site, its the dealership where I bought my Rx. Theyre advertising 489 a month, 2.5K down with a 43K msrp.
http://www.pohankalexus.com/AboutSpecials
Thats going to be in the same neighborhood as the special you found, I would imagine...
What is current money factor, residual value for 2008 RX350 (24/36 month, 12K)?
Thank you
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As far as this lease goes, it is difficult to tell how good a deal you are getting without knowing what this truck's MSRP and selling price are. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. If you are in an area that has a decent level of competition, you should shoot for a selling price of a couple hundred dollars over dealer invoice. You can look up the invoice price of the exact model that you want by visiting the New Vehicle Pricing section of Edmunds.com.
Once you have negotiated a selling price that you are comfortable with, have the dealer that gives it to you calculate your vehicle's monthly payment using Lexus Financial Services' buy rate lease money factor. LFS' current buy rate for a 36 month lease of an '08 RX 350 is .00140 for consumers who qualify for its Tier 1+ credit tier.
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Thanks in advance for your help.
I thought I'd check back in to share our experience with leasing the 2008 AWD RX350. Since we had not been able to make sense of the lease payment we made the decision to purchase the vehicle outright. That is, until we sat down with the finance manager. As it turns out, the computer at the dealership automatically pulled up 2009 money factors. This is why the payment they were quoting us over the phone was so much higher than what we were calculating (using the money factor and residuals posted on this site). When they plugged in the correct 2008 money factor the payment was lowered by $55 per month. So in the end we were able to get the vehicle at invoice ($38,600), 12K miles and a monthly payment of $579. So the moral of this story is Caveat Emptor!
I'm located in the New York/New Jersey aread. Is $600 a good lease price for this package? They started at $675. Thanks.
the way i see it is we have an 05 mdx with the same msrp and identical lease terms that we lease for 484. there was one more model year after that before the body change, same as this rx.the price of these trucks havent changed at all during the past few years, so I would wait for the 09 if you're not in a rush to do something. I'm sure that we can get the same deals, if not better.
the msrp was 42945 and their selling price was 38700. they kept telling me that the MF hasn't been out since 06 which was making me crazy. i was doing calculations and if they used the .00140 and sold the car for 38000 or something the price would be 498. i told the salesmanager i didn't want to pay the 538 and he goes where would you like to be under 500...490.498?He said the exact number so I'm sure that they could do that deal. I may be wrong about the selling price that they used and what I thought they should use, but I will post it again when I find the sheet I had it on. Have you had any luck??
Are ther February MF and residuals out yet? I am looking at a 08 Lexus RX350 AWD with nav,. 12K/36M
MSRP: $47K
Payments: $567 including tax
Months remaining: 17
Current Mileage: 13,350 (36,000 allowed for the lease)
Miles Allowed per month: 1,332
Location: Santa Monica, CA
Jet Black with Tan interior
Navigation
Bluetooth
Heated Power Seats and Power Rear door
Moonroof, Woodgrain Steering Wheel
Backup Camera
All scheduled service has been performed at the Lexus dealer. No scratches or wear, has never been smoked in, garage kept.
$479/mo. for the RX350 FWD with options FV, HH, NV, PT, WL, C1 and TO
$499/mo. for the RX350 AWD with options FT, HH, NV, PT, WL, C1 and TO
Each requires $2500 down for 12K miles per year.
FV = Liquid Graphite Finish 18" 7-Spoke Aluminum Alloy Wheels
FT = 18" 5-Spoke Aluminum Alloy Wheels
HH = Heated Front Seats w/Rain Sensing Wipers
NV = Navigation System
PT = Premium Plus Package
WL = Wheel Locks
C1 = Trunk Mat
TO = Towing Prep package
What do you think? Would there be room to negotiate an even better deal once at the dealership?
Thanks
Now through March 31st, special leases are available on the
stylish RX and the technologically advanced RX Hybrid. For
details, see your Lexus dealer.
Does anybody know money factor, residual, and most of all, what a lease payment would be like in southern California at this time for a well equipped RX400h at 15,000 miles a year, 36 months? Any help would be appreciated : )
MSRP: 45,887
MF: 0.0014
Negotiated price: 41,000
First month payment and Title fee: 640
Down payment: 2094
Doc and Acquisition charges: 650
Residual: 56%
Lease trams: 36 months
Payment without tax: 477 per month.
I'm looking for a decent lease deal on a 400h now, but I'm not seeing anything - a few quotes around 650-750/mo, which is pretty outrageous.