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

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Comments

  • U r right . Enjoy.
    The only thing that sticks out is your MF of .00085. Really low. Did you negotiate it? what state are you in?
  • No negotiation on the MF. I asked the dealer to breakdown the quote, and this is what he gave me. I was surprised too, as I was under the understanding that the MF is 0.00095.

    I'm in Ohio, and this is a dealer in Cleveland.
  • flugelflugel Posts: 34
    I am going to the dealer tomorrow. He offered me an outright all cash purchase price of $42,500 for a 400Hybrid that has an MSRP of $51 approx.

    We know that we would trade it in at end of 3 years since new technology will make this car a dinasaur.

    Please explain how I should negotiate with the sales mgr, who I have an apptmt with tomorrow.

    I like the idea of a "one pay lease" whereby I will trade my wife's 2006 Pilot w nav and leather in (and hopefully have very little cash outlay to consummate the lease. she will need a lease with 20,ooo miles if this is possible as she drives about 22,000 miles a year usually.

    I do not understand the terms such as the .00150 and 48% (does the lease mean no down payment? do I first negotiate the discounted price of car and reveal that I want a lease ? and then reveal that I have a trade-in ? Do I have to negotiate hard to get a 20,000 mile per year lease ?

    A sales mgr of a distant lexus advised me that this would be good for me if I definitely would trade in 3 years and insisited on paying cash if I didn't lease (due to my bad health condition etc). HELP- - - - HELP - - - -HELP.

    tHANKS IN ADVANCE.....Reddog
  • Tough. Abstain from running to a dealer uneducated! or you have a good chance to be taken for a ride. Sorry gotta run now.
  • I just leased a 09 RX350 with an msrp of $44841 (with navigation) for cap cost of $40,310.78, mf .00095 and residual rate 54%. I'm in Dallas and they did no sales tax and used the $1000 mfg credit like a down payment. This is 36 month, 12k/year lease and the payment is $525. All I paid at delivery was first month plus title and registration -- $657.55.

    I negotiated between two local dealers and the other would have gone about $5 less on the payment but I went with the dealer closer to my house and with whom we have dealt with prior. I feel like I got a great deal.
  • I have gotten the following deal

    MSRP: $43,591
    Lease: $39,591
    Residual: 44.00%
    Money Factor of 0.00105
    48 months/12k

    $455/mo

    The car has everything but Nav. Dealer says Nav is about $40 more per month. Does this sound like a good deal?

    I also drove the '09 highlander hybrid today to get a comparison to the rx. I was surprised to find the interior much nicer in the Highlander. It has keyless ignition, 3rd row seating (out of the floor) and a much better center console. It seems that this is the way the '10 RX will look and its a shame I need to buy now. Anyone know why the '09 doesn't have these features?
  • Patriot, the Highlander came out with a new body style last year.
    The RX is not due to come out with the next generation body style until sometime in the Spring of '09. I'm still not sure whether the '09 RX will have third row seating or not.
  • Hey patriot21,
    The selling price of 39591 looks reasonable, you may even get them to go a bit lower - push them hard 'cause there aren't many people buying cars these days. Concern is that the numbers you supplied do not work out to a $455 payment without some upfront cash from you. Make sure you get all the numbers from the dealer, including acquisition fee (usually around $600), plus taxes and other fees. Once you have all the numbers, you may also want them to run the lease based upon 36 months. Doing so may result in a better deal.

    As another person replied, the current RX is the same overall style that's been around since 2003, so other than an engine change (from 3.3 to 3.5 litres), there have not been significant changes to the RX. You won't see a third row seat in this vehicle because Lexus has two others (the GX & LX) for that. The exterior of the new 2010 RX will look pretty much like the current vehicle. Photos I've seen of the interior do not look very appealing but we should have a better idea of this later this week from photos at the LA Auto Show.
  • briegelbriegel Posts: 139
    2004 was the first year of the current RX style.
  • I just got a quote for a lease on a 2009 AWD rx 350 in NYC

    12K miles for 36 months
    Navigation
    Premium plus
    Heated seats
    18 inch tires
    Tow ready package
    rear entertainment

    I was quoted 554 per month with everythin rolled including taxes. has anyone seen a better deal in ny area
  • No problem, womble. I have not seen the lease program for the 2009 RX 400h yet.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi mjfloyd1. I haven't looked into it lately, but the last time that I checked Lexus Financial Services' reduced vehicles money factors by .00010 for every extra security deposit.

    Lexus is providing $1,000 dealer cash on the '09 RX 350, but I am not aware of any certificates.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • Hi.. I am looking for a 2 year lease on the rx 350. My last lease was a 3 year and I know they offer the best terms, but I was wondering if anyone knew what residual would be for 2 years...

    Thanks
  • Hi all,

    I'm in No Cal and I've been reading these messages for the last few weeks while shopping for the best lease offer. Thanks to everyone who contributes, it has been VERY helpful to me. I actually used numbers from a member to get the dealer where I wanted. Here's where I ended up:

    MSRP $47,100
    Pebble Beach
    AWD
    Nav, Heated, Tow(basically most of the main add-ons except Mark Lev stereo)
    15k/year
    36 mos
    money factor .00095
    52% Residual

    These are the payment options I negotiated:
    1)$800 down, nav package, AWD, non- Pebble Beach model (about $45k MSRP),$499/mo
    2)843 down, nav package, AWD, Pebble Beach, $520/mo
    3)$0 down, nav package, AWD, Pebble Beach, $545/mo

    I went for the last one, as my wife liked the Pebble Beach color & wheels and I didn't want to put anything down.

    I must have contacted 6 or 7 dealers in the state of CA before finding a person who was friendly and helpful without being too "sales-y". Truthfully, the purchase paperwork was probably the least painful out of any I've experienced. Entire process took about an hour and because I negotiated the deal over the phone, there was no dealer BS once I got there.

    Person's name is Ernie at Sacramento Lexus, if anyone is in the area and looking for a great deal on an RX. He even threw in a Lexus travel mug for the car- hey, it's the little things!

    Couple of last thoughts:
    I looked at the ML, Highlander, FX, and Pilot. Most of them had things I really liked and some I couldn't live with. The HL was actually my fave pick- better room, newer design, more space in the cargo area, same engine, etc. But the lowest lease price I could get was around $650/mo! Crazy that you can lease a car that's $10k+ more for less $. The RX seemed to have the best overall balance for us, taking into account the price. I do wish I could have waited for the new 2010 model, but that's why the price is so low on the 09's.

    Mark Lev stereo- I love good music. By far, our FX with the Bose had the best system I've heard. So I was excited to check this stereo out. I listened to the base model and the Mark Lev, and could not tell a whole lot of difference. Not enough to justify the $2k increase in price. Save the money and upgrade your home system ; ) The base model is actually pretty nice.

    Cheers!
    Steinboy
  • I am still working the numbers but I was going to out $3500 down plus the $1000 dealer cash and I'm getting $1400 for my trade in. The general opinion is that I am putting too much down??

    I went to the Toyota dealer and asked about leasing a HL limited edition hybrid. Lowest number I could get was $719/mo which is crazy. I think if I could get it for around my price point of $500 I would go for it.
  • briegelbriegel Posts: 139
    I would suggest using the money you were going to use as down payment to make multiple refundable security deposits to reduce the lease money factor (by .00008 per each multiple) and thereby reduce the monthly lease payment. You get that money back at the end of the lease and it works out to a pretty decent return on that money. I have done that, as have many other posters on this forum.
  • "I just leased a 09 RX350 with an msrp of $44841 (with navigation) for cap cost of $40,310.78, mf .00095 and residual rate 54%. I'm in Dallas and they did no sales tax and used the $1000 mfg credit like a down payment. This is 36 month, 12k/year lease and the payment is $525. All I paid at delivery was first month plus title and registration -- $657.55"

    I am in Dallas as well and this is the offer I got from Park Place Plano on the same car you leased:
    36/mo @ 15k = $615/mo (only $620 due at signing)
    Money factor is .00195 (tier 1 plus credit)
    Residual is 52% of MSRP $44,841 (res is $23,317)

    Using a lease calculator i figure the cap cost is about $39,700. My FICO score is 792, so I am not sure why the difference in MF or the residual. Which dealer did you buy from? Thanks.
  • Larryj42 -- I did only a 12K mile so that is probably the difference in the residual but I would think the MF should be the same as that is a Lexus promotion. I did negotiate with Park Place and they actually came under by a few dollars but I purchased at Sewell because it was a better location for me. I negotiated everything over the phone.
  • indus2indus2 Posts: 20
    just closed the deal on a 09 RX350 AWD (non-Navi), list $43,591.

    36 months, 15k, inception fees out of pocket (~$1700), $450/month including NJ tax.
  • Thanks, cdwilli. You are right on the difference on the residual. I .will keep working on the .00095 MF
  • tjimtjim Posts: 3
    MSRP 42,892 for AWD non-NAV
    Cap Cost 36,462
    $3000 up front
    389.79 base payment (plus tax)
    MF .00145
    36 months, 12,000 mi/yr
    San Francisco area
    Sound decent?
  • I would appreciate any comments on a deal I may go with tomorrow (Monday)

    Base rx350 AWD (no nav). Sticker right around 42,000.

    The deal:

    $1,539 down (first month's lease payment plus license, tax and registration)

    36/15k

    $455 per month (all inclusive).

    Do you think I can I do better?

    Much appreciated.
  • What is the general opinion on waiting until February for the 2010 model to come out? I'm wondering if I will get a good deal by waiting?
  • Hi Tjim,

    Sounds like a fabulous deal, better than I can get here in Phoenix. I'm at the end of my second RX lease (currently a 330), and am looking to save money on our next vehicle. Can you tell me the name of the dealer where you got that quote? It would be worth our while to drive up to SF to get it, and see relatives at the same time.

    Thanks.
  • I should have added 0 up front.
  • I'm picking up my RX350 AWD with "black-out" kit .

    List... 43,476.00

    Cap cost... 3608.81

    36 months. 15 thousands miles per year.

    Are you ready for this?

    I'm doing a one-payment lease for 15557.05 (including drive off and lease acquisition fee)

    $410.95 (including tax!) Beat that!!!!
  • indus2indus2 Posts: 20
    timelockmind, what was the cap cost on your deal? looks like you're missing a digit... personally, not a big fan of pre-paid leases, as you're running a risk of losing money if your car is totaled/stolen.
  • indu2

    The cap cost is 36.084.81

    As I have never heard of any disadvantage of a prepaid lease. Please explain "the risk of losing money is your car is totaled/stolen". I don't sign the deal until Sunday and do not want to do anything stupid.
  • indus2indus2 Posts: 20
    Timelockmind,

    In a scenario your car is stolen/totaled, your primary insurance company will pay out what they consider to be the market value of the car. If that market value is less than what you owe to the bank (the finance company), your gap insurance will kick in and cover the difference. In the case of a pre-paid lease, you will never be in a situation where you owe the bank more than the car is worth; however, it is likely that you will not recover all of the money you've paid up front. That risk is the greatest in the beginning of the lease, and diminishes over time.

    Having said that, the cap cost you've negotiated is very good. Assuming there is a $1000 coupon that the dealer is applying on top of it towards cap cost reduction, you should be at around $430/month with just inceptions up front, assuming 7% sales tax, without pre-payment.
  • indus2

    Yes, they applied the $1000.00 coupon toward the cap reduction. As I mentioned, with the one-payment lease I'm at $410.95 (including taxes). That's it. That is the total amount.

    With the standard lease I am at $1557.05 down and $455.80 for the remaining 35 months.

    I know you can't make a decision for me, but considering the $1,600 savings with the one-pay, what would you do? And considering the excellent cap reduction how much risk do I really have if the car is totaled or stolen at the beginning?

    Thanks very much for your help!

    By the way, I assume this is an absolutely outstanding deal (or not?)

    Ken
This discussion has been closed.