2013 and earlier Lexus RX 350 / RX 450h Lease Questions

thors

Car_man,

Sorry - a quick question on the MSD....when I am ball-parking/figuring out my probable lease payments (thanks again to your helpful calculators!), where do I plug in the $ amount of MSD's I plan to make? Let's say, for example:

Cap cost is $39,000 (let's say MSRP is $42,500)
Residual 57% (I'll use yours)
MF is .00255 BUT I want to make the max MSD's of 9, making my MF .00165

Where does the MSD $ come off when figuring? Or am I just missing the boat here? :confuse:

Thank you!

kyfdx

The MSDs just change the money factor... To get the difference, just use the lower money factor in your calculations..

regards,
kyfdx

thors

Thanks.....

Am I correct in assuming just like all other security deposits, you just pay the amount up front? Do you write a check to the leasing company for the amount?

As I am researching, I am noticing lots of ads (throughout the country) that have lease deals with $0 security deposit....so......what kind of $ are we looking at putting down then? How do you know how much then they will be and do all dealers do this? :confuse:

Thanks!

manilaboy777

Hi everyone,

First post here... Can I please get some feedback on the following quote?

RX350 FWD w/ Premium, Navi, 19" wheels, wood/leather steering whl, heated/vent front seats, 12 spkr for Nav, cargo mat, wheel locks

MSRP: 44428
Negotiated Price: 40809
Residual: 59%
Money Factor: .00183 w/ 9 x MSD
acquisition fee of $700

Final drive off of 5850 (MSD) + 556 (Title, reg, lic) + 602.34 (1st month) + 49.39 (doc fee) + 8.75 (tire fee) = 7066.48

602.34 a month incl tax for 36 months at 12k/yr

How does this sound to you guys? Many thanks in advance...

NRI

this vehicle has two config only no Nav and with NAv. rest everything is standard.
I assume you are talking of 2010 model and I would expect a good offer is $550/mo rest everything remaining same.

I have a 2090 Rx 350 with NO NAV for 450/month + 1651( final drive off ). this transaction is from Jan, 2009

pop90210

Did you get a response to this? I'm looking for a very similar deal in the NY/NJ/PA area.

redhat381

The discount for MSD used to be .0001 for each additional deposit for a total of .0009. Did they decrease the amount of discount? Can anyone confirm this?

Also, I know Lexus and BMW have MSD discounts. Does anyone else? Acura, Volvo, Infiniti...?

Thanks.

For each additional multiple security deposit (MSD) you put in, your MF gets reduced by .00008. Lexus allows you to put down up to 9 months of MSD, for a maximum reduction of MF by .00072. This is what I did. So my final MF turned out to be .00143.

luvdeals

Hi Car Man!
Great job answering everybody's questions. Your contribution is immense, very much needed and greatly appreciated.

My first series of questions are about August numbers and specials that LFS is offering on 2010 RX 350 (MSRP: 42287). Specifically, what is:
- the Money Factor for returning and non-returning customers?
- Residual value for 10/12/15k. Is it still 60/59/57% respectively, or does it change?
- Can I still put down 9 MSD and how much does each one bring the MF down by? I read different posts quoting different #s just for July: from .00008 to you saying it's .00010. However, I went to the dealer today and they first said the currect MF is .000365! I quoted edmunds and you and they came down to .000255 (and later .000251 - what is up with different MFs? :confuse: ). Then they supposedly didn't know about the maximum of 9 MSDs. They said the max was 4. Then they came back and said it's actually .00008 and I saw my monthly payment go up on the screen. I was kinda disappointed and left with no deal. There are so many ways the finance manager, and ultimately the dealer, can make a profit on the lease (on top of making a profit on the car itself) by lying and withholding information, it's insane! :surprise:

Where do you get your info and is this something that I can check myself? Is this info available in the public domain?

Also, I called LFS and they told me that it's up to the dealer to work out a lease contract and terms and they accept whatever the dealer submits. In other words, the dealer can lower MF or raise the residual value if they choose to do so. Is this true? If the finance manager is fine with raising the MF, then he is lying when he says that he can't lower it.

Thank you very much for your help!

dealornodeal1

Hello-
I am new at leasing. Just wondering what a good lease deal on Lexus AWD 2010 rx 350 msrp 43,475 is. We have excellent credit and were offered 36 months 12,000 a year 3,000 down and 599 a month. Should I be paying more like 560 a month? (quoted from lexus in edison nj ) thanks

vandyman4

Hi:
Bad deal. I just leased the same car for 585.00, 10 k miles per year, 1800 out of pocket including 1st payment from Warnock in East Hanover.
JON

dealornodeal1

thanks for the info. at least now i have something to go by. will call edison back and then warnock. how much more should i expect to pay with 12,000 miles a year? any idea?

highfidelity

Car_man,

Well August is upon us and in the past that has meant the Summer Sales Event? Have you heard anything? Do you happen to know the money factor and residual on 2010 RX350 leases (no nav and nav) for 36 months with 12k miles a year. I am really hoping we will finally get some leasing support on the RX. I am currently extending the lease on my 2006 RX330, and really don't feel like spending over $100 more a month for what to me, is the same car (from a value perspective). I can't make it to the December sales event, so here is to hoping they do something before then.

Thanks.

dealornodeal1

Hello-
Thanks Jon S. Just leased an RX 350 no nav. 12,000 miles 3 years $1865 down 599 a month. Warnock had no white but got what I wanted in Freehold.

4barbara

I have a question...what would've been the payment for 4 years? do you know?
Did you do MSD?
MF used?

so you have the 18" wheels?
What package did it come with and options, if you don't mind.
Color int/ext
$599 was w/ tax?
Residual % used.

I ask this because we went out first time to look at this SUV. I have a 2000 rx and my wife es 330 2007.

Haven't done my homework yet but I'm warming up.

We got quoted at Oxnard, Ca...3 yrs.. 10k.. no nav...2k down...w/tax = $679.14
I'm thinking it's high.

4barbara

and so I've returned to price hunt. This is THEE best place to hear from all around our great country...so what say you!
We bought our ES 330 from Oxnard, Ca and we have a good rapport but I had a sneaky suspicion I was getting the hose job.
First price out of the gate was over $800...that's more than my mortgage!
Then they dropped to $700s and eventually to mid to high 600s....then the tricks started.
10k or 12k
3 years or 4
Residual percentages
MF
Drive off...no matter what was $2k...so I balked still

I didn't know about the MSDs? Do they cash those in? or just hold it!
How much is the Security Deposit?

I'll go the distance to get the best pricing.
Bring it.

thanks all

dealornodeal1

The 2010 rx350 I just leased is starfire pearl/ parchment leather. 18" wheels. options-comfort and premium packages. no navig. AWD. Security deposit 0. $599 a month is with tax. $1865. is also including first payment. res. 57%

4barbara

What state?

If it's SoCal...please tell me where and who.

Does anyone have a similar price? for SoCal?

We saw the Pearl today...very nice.
So you have then the 5 spoke rims?

Then we were getting reamed by Oxnard, Ca.....and I knew it. :mad:

4barbara

What dealership?
I'm in Santa Clarita, Ca
and we're looking.
19"?

thanks and the salesperson

dealornodeal1

We purchased in NJ-Freehold. Good Luck with your price!

4barbara

Got just about the same deal.
$627
no nav but we got the rims

CarMan@Edmunds

You're very welcome, thors. Good luck in your negotiations.

Car_man
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CarMan@Edmunds

You've got the idea, thors. If you pay multiple security deposits, the additional deposits (your vehicle's monthly payment rounded up to the nearest $25 increment for each one) are due at lease signing.

If you choose not to make multiple security deposits and LFS waives its requirement for one, then at lease signing you would have to pay your car's first month's payment, any capitalized cost reduction you choose to make (ideally zero), and any required state taxes or fees.

Car_man
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CarMan@Edmunds

Thanks luvdeals . When it introduced its current "Golden Opportunity" sales event at the beginning of last month it was scheduled to run through 9/8/09. I will check to see if it made any unscheduled revisions to this program for Aug., but for now it is probably safe to assume that Lexus' August lease program is the same as its July lease program was.

According to the latest information that I have seen, Lexus Financial Services' current buy rate lease money factor for non-returning customers who lease a 2010 RX 350 is .00255 or consumers who qualify for its top aka "Tier 1+" credit tier. This factor is enhanced to .00215 for returning (loyal) customers.

Yes, you should be able to make up to nine extra security deposits on your lease, with each additional deposit reducing the money factor that is used to calculate your truck's monthly payment by .00010.

The .00365 money factor that you were quoted is nuts. That dealer was really trying to pull one over on you. Such a move would leave a really bad taste in my mouth if someone tried to pull it on me. I probably would strongly consider going with a different dealer.

Unfortunately, I am not personally aware of any resource that provides accurate information on manufacturers' actual lease programs to the general public.

Car_man
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CarMan@Edmunds

Hey highfidelity. When it introduced its current "Golden Opportunity" sales event at the beginning of last month it was scheduled to run through 9/8/09. I will check to see if it made any unscheduled revisions to this program for Aug., but for now it is probably safe to assume that Lexus' August lease program is the same as its July lease program was.

According to the latest information that I have seen, Lexus Financial Services' current buy rate lease money factor for non-returning customers who lease a 2010 RX 350 is .00255 or consumers who qualify for its top aka "Tier 1+" credit tier. This factor is enhanced to .00215 for returning (loyal) customers.

LFS' residual value for a 36 month lease of a base 2010 RX 350 AWD with 12,000 miles per year is 59%.

Car_man
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gophers

Hi All,

In my area (Minneapolis/St. Paul MN) I am getting the following quote. I have been told they have a supply/demand issue and are booking their sales out into September. Thus, they are telling me I am setting the record for the best deal. Do I believe them? I also have no other local Lexus dealer to compete with.

The deal:

MSRP 47651
Offer 44541 (3100 off)
Residual 59%
36 mo/12k miles per year
MF .00143 (with 9x security deposits)
$8460.70 due upon signing ($5157 is security deposit)

$558/month. (without MSD it would be 610/month)

My issue is that I see most here getting over $4k off. My dealer will not bend on the final price. They claim most in the area are getting only $1000 or $2000 off.

4barbara

the 558 is with or w/o tax. I'm assuming it is. Well it all depends how you look at it.
Can you afford not to have the money in the bank or not....for the MSD?

You can get the exact same deal WITHOUT the MDS...for $599 out the door.

Of course this is without Nav and I assume you're not getting the chrome rims.

18" wheels

luvdeals

Thanks, Car_man!

What do you base your information when you say: "You should be able to make up to nine extra security deposits on your lease, with each additional deposit reducing the money factor that is used to calculate your truck's monthly payment by .00010"
I checked with two dealers in the Dallas area, and both are saying each security deposit only reduces the MF by .000080, not .00010 as you say. Also, they are saying it's currently .00251, not .00255. There are other people here that are experiencing the same thing as I am. When was the last time you checked? How do I make the dealer go up to .00010 for each MF? Since LFS doesn't directly deal with consumers, it looks like dealers are calling the shots. (I called a dealer today just to check their honesty and was quoted a .00350 MF! Insanity! :surprise: ) Isn't there an organization that the dealerships answer to? As far as I understand, they pretty much can get away with anything.

This is so frustrating. I want to give up, especially since they don't have any of these on the lot, and I'd have to wait for at least a month after I sign the contract! But I thought LFS would offer better incentives in August.

What would you suggest? Should I wait till the end of August or all the way until December? In your experience, during what months does LFS offer the best incentives on RX?

Thanks a lot for your help!

:sick:

4barbara

It's .00008
and it is .0215 IF you bought a car from them before or .02155 if you haven't

gophers

The MSD isn't a problem at all - in fact one usually gets way more interest "investing in Lexus" that way than leaving in the bank.

My problem is that I keep seeing people get deals of 4k or more off but am locked in by a local monopoly. Most numbers are identical for people, the real goal is to lower the asking price. Its where I'm falling down.

I guess I'm curious if the $4k+ off of MSRP is just for people in certain locations and many out there aren't reporting the *real* deals they are getting...?

smarty666

Hi, I was curious to find out if anyone knows if Lexus will allow you to order a RX350 the way you want it? I've been to two different Lexus dealerships, one said that you could not order one yet another one said it was possible but it would take 3 months to come in from Lexus; so you see I've gotten conflicting stories so I was hoping to hear from someone who has ordered one and how the process went?

carshpr1

Hi all. In the market for a 2010 RX again. Wondering if anyone can share any experiences getting this car at or near invoice in the PA/NJ/MD area. I'm willing to drive to get the vehicle if anyone can give me specifics about where they've been lucky enough to find a deal like this.

If I can get the RX at/near invoice I can make the move.

Thanks!

Jay

go_orange

I got excited about MSDs as a way to possibly lower my monthly lease payment without putting money at risk.

But when I asked my local Lexus dealer about this, I was surprised and disappointed to hear that MSDs are not allowed in NY.

I asked if it would make a difference if I got the vehicle from a dealer in CT rather than NY. The NY Lexus dealer said no, because I live in NY. I intend to check this with a CT Lexus dealer in case the NY Lexus dealer may just be telling me this in order not to lose a sale. But in the meantime, I thought I'd raise the issue in this forum in case anyone has had personal experience with this and knows the answer. Is there anyone out there who lives in NY, but leased a vehicle from a dealer in a neighboring State in order to benefit from MSDs? Or is there anyone out there who already explored this possibility and found that it does not work?

One more question. Take the worst case scenario where the leased vehicle is totaled the moment I drive it off the dealer's lot after taking delivery. I assume that the gap insurance inculded in the lease would fully satisfy LFS and that my MSDs would therefore be fully refunded. Has anyone had personal experience with this to know for sure that MSDs are fully refunded in the situation where the lease vehicle is totaled or stolen during the lease term? Before I make MSDs, I want to make sure that it is really as safe as it seems to be.

Thanks.

Regards.

4barbara

Yes it is as safe as it seems.
Frankly....all you have to do is call up a dealer in CT or NJ/PA as the question if you can do it..even though you live in NY...see what he says.

go_orange

Great!

Then it's something I'd sure like to do if I can. Looks as though MSDs would make a big difference in my monthly lease payment by application of a lower money factor (.00165 i/o .00255). As for tying up approximately $5,000 for 3 years, this looks like a much better use of money than leaving it in the bank and getting paid peanuts in interest.

go_orange

PRICE:

Since the lease program (money factor, residual, bank fee) is what it is, I suppose that the sales price on which the lease is based is the only place for negotiation.

My local Lexus dealer in NY quoted me a monthly lease payment which is based on an offered sales price of $39,918 on a 2010 RX with a MSRP of $43,265. Since it was a first offer, I assume I could do better though I have not yet shopped the price to know how low a metro NY area dealer will go. In the menatime, I'd like to invite opinions from contributors to this forum on whether $39,918 is a decent price in the metro NY area for a 2010 RX with a MSRP of $43,265. If not, I'd like to invite opinions on the ballpark price I should be targeting.

OPTIONS:

My local Lexus dealer in NY told me that all non-navi RXs come equipped with the same combination of options. Although the brochure has what appears to be an options menu, it seems that in reality customers may have no real choice. Is this really the way it is with Lexus?

I noticed that some of the things appear to be dealer accessories rather than factory installed options. For example, wheel locks for $81. I asked my local dealer if I could at least get the vehicle without dealer-added accessories. The answer was no. Is this really the way it is with Lexus?

LEASE SUPPORT:

Any predictions from those familiar with Lexus and LFS as to when we are going to see a reduction in the money factor for the RX lease program? The residual is good, but . . .

My current lease expires in Oct and I'm wondering whether lease support on the RX will come along in time for my moment of need. It did not come along in time for the Golden Opportunity summer sales event, which does not bode well. But the RX has been a volume seller for Lexus. Assuming that Lexus intends to maintain or even try to increase volume, then it seems to me that lease support has to come sooner or later, hopefully sooner.

Thanks for any feedback.

Regards.

kyfdx

I've heard from NY state BMW buyers, that they can use MSDs if they buy in NJ..

Sorry... anecdotal evidence is all I have..

go_orange

That's encouraging information. I could lease from a NJ dealer i/o CT if necessary.

davidd3

I asked the internet sales manager of a CT Lexus dealer about my idea to get around the issue of NY not allowing MSDs. Seems I'm out of luck. She told me that the determining factor is the customer's State of residence where the vehicle will be registered. She said that it will not work to lease the vehicle from a dealer in a neighboring state when the customer lives in NY and the vehicle will be registered in NY. Major bummer . . .

Just posting this answer to my own question in case this may be helpful to anyone.

davidd3

I talked to the internet sales manager of a CT Lexus dealer on the issue of lease support. She expects it to arrive for the December to Remember sales event, but not sooner. I'm coming off-lease in Oct. I may extend my lease for a couple of months to wait and see. The savings as compared to acting now could be considerable.

Just posting this answer to one of my own questions in case it may be helpful to others.

4barbara

Get a second opinion from another dealer.
It doesn't make sense that you can't put deposits down. Sales Tax I can understand but deposits!
Have you done a search on this? ME! I never take no for an answer...especially in the biginning.
Call someone in NJ.

In any case....$599 out the door...no nav with min down. Out here in SoCal $1865

They took our 07 es 350 which was neg 2500...straight up
We got the Matador Red w/ Parchment int
came with the crossbars.
That back up camera in the rear view mirror...cool

davidd3

I did do a search. I verified that MSDs are not allowed in NY, but found nothing on the issue of whether a NY resident could get around this by leasing a vehicle from a dealer in another State where MSDs are allowed.

I believe that an internet manager at a luxury car dealer would be an authoritative information source to answer this question. But maybe I will double-check with a dealer in NJ as you suggest.

Enjoy your new RX. Sounds nice! Mine will be 4lori.

Panaramic sunroof is one of the latest things in this market segement and I like it a lot. I'm disappointed they didn't put one in the new gen RX. They put it in the Venza (a Toyota) but not the RX (a Lexus)??? Go figure.

davidd3

The NJ dealer told me the same thing. So long as the customer lives in NY, MSDs are a no can do regardless of where the customer gets the vehicle. Seems to be no way for me to get around it. Disappointed.

nkw40

I am loving the 2010. I have 2 more months to go on a lease of a nissan murano. It's in tip top shape. Do I have a chance of trading this in to lease a rx? or should I wait? I have never traded in lease before, as I have always purchased cars. Also, do I have to put anything down if I don't want to? Thank you for answering, I would like to know before I go into dealership. Thanks.

4barbara

You can't really "trade" a lease because you have to turn in back in.
What you can do depends on how bad or good the suv's condition is in.
Tires, scratches, dents, interior...and most of all mileage. Then go search
this site for USED vehicles priced accordingly...be honest because you're
only kidding yourself. The dealer is not going to give you the benefit of the
doubt because their argument is that they need to make money on the
re-sale.
If you really think you're positive on this the best you can do is use the
extra for possibly working it as your down payment so no money out-of-pocket
is your best course.
If you know you're right...don't let them keep you sitting and frankly, DON'T SIT
AT ALL! Just browse around like you will walk out at the first sign of BS dealing, as I like to put it. Also let them know that you've searched comp. prices and feel that it's worth MORE than what they're willing.
I had one dealer who only wanted to give us $24k for a 07 es350 and we were in the red for $2500 on the lease. I walked but they tried to talk to me as I was leaving. I said sorry...you lost a sale. The next dealer I went to!...they not only gave TOOK the $2500 but gave me the extra $1835 for the down on the rx 350 2010. When the other dealer called to discuss the matter...I told them WHICH dealer I dealt with and what they did...left him speechless in addition to me saying that I won't ever be dealing with your dealership but I'll also tell my friends and to which sales rep & dealership they should go to.
Now...what price are you paying for your rx 2010? and an options.

rbirns1

You don't trade in a leased car, since you don't own it. You can sometimes have the dealer assume your lease as part of a new purchase. This essentially adds to the purchase price of the new car. If you have two more payments on your Murano (let's assume $500 each), then the dealer assuming your lease would be on the hook for the remaining $1K. This amount needs to be factored into your new deal. It becomes added cap cost. If the dealer is very hungry, they could lower the selling price to make up part of the difference. I don't expect Lexus to be very hungry to deal on an RX. Or, if the residual price at the end of your lease is around what they would pay to acquire the car through trade or auction (this is rare), then they may want it for their used inventory. Either way, turning in your lease early as part of a new deal represents added cost, not reduced cost.

As for money down, you never have to put any money down, nor should you. If you are leasing, always negotiate nothing down, everything (including tax) rolled into the payment. If your leased car is ever stolen or totaled, you cannot recover any money paid upfront.

chelentano

i wonder if there are leasing companies ratings. Anybody could comment on this one?

http://www.theleaseoutlet.com/Auto/Lexus-Lease-Specials.aspx

toyotas2

Inquired on a new RX 350

MF of .00215
Residual 57%
MSRP of 43,400
Price of 41,200

Resulted in a quoted lease of $645 per month.

Seems the deal isn't that great. Any thoughts?

4barbara

too high!
what extras and options
what state?
yrly miles

redhat381

I got my wife's 07 RX350 in November of 2006 with 9 MSDs.

There were some people who were concerned that the MSDs will not be refunded properly. I just paid for and sold the RX350, and the refund from Toyota Financial showed up in less than a week. I must say that was a very good use of the $4,050, since it lowered my monthly payment by $60 for almost 3 years, and I got all of it back with no hassle.

Also, I was able to sell the car for around $2,200 higher than the payoff amount. It's unusual that you can sell a leased car (especially a SUV these days), for more than the payoff amount, but I was able to sell it within a week. There were alot of interest in the car. The dealer (not the one I purchased from and consequently not the one I would have returned the SUV to) also wanted to price it out, and pay me any equity over the payoff amount, but I'm sure their offer would've been less than what I was able to sell it for on Autotrader.

So, if your lease is coming up, and you don't mind selling it on your own, it might be worth your while to give it a try. The net profit paid for all the out the door fees, including the first month's payment, for my wife's next car.

toyotas2

Sorry I should have clarified. It was for 36 months with 15,000 miles. That was with only paying for the title and fees which adds up to about 1600. No capital cost reduction. It had all the options except navigation. Sticker was right around 43,400 I believe based on the quote from the dealer. This was in NJ.