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

rexx08

Have you heard anything further on this?

rstover311

No, nothing yet. I spoke with one dealer yesterday and she did not know of anything. I was going to call the guy who said that there will be but it might be a couple days premature, as I'm fairly sure Lexus does not tell the dealer until the last minute.

right now the MF is .00220 and residuals are the same @ 63/62/60

I'm going to pull the trigger on the existing program if they do not come out with anything better, but hope the mf does go down a bit.

rstover311

I just talked to the salesperson who originally said there will be a program, and he said he expects it to be released this Friday.

However, not much else to confirm that. Is it real or just talk? we'll see.

rexx08

Thanks. I am on the fence b/w RX350, SRX and Acura. I plan on going back to Lexus this weekend. I'll keep you posted if I hear anything and vice versa.

rstover311

Sounds good on that.
I looked at the SRX originally and was fairly impressed (even thou it is a GM), and the styling is sharp. We took a test ride in an SRX and immediately went over to the Lexus dealer (not the 1st visit), and the Lexus was just so much nicer. The Acura - haven't looked.
fwiw

CarMan@Edmunds

Hi fishnamedwanda. This discussion is about leasing the Lexus RX. You should be able to find the information on the ES that you're looking for over in the "Lexus ES 350 Lease Questions" discussion.

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kc3207

Feb-March incentive rumors are real as Lexus is now advertising a "Spring for a Lexus" promo! But does anyone know the actual specials in the Midwest? Neither local MN dealerships have specifics on their websites. Also, looking to understand current MF and residual info.

buckeyerye

hi i am interested in leasing a lexus 2010 rx 350 awd with navi and have gotten a quote of $528.76 for $0 down (taxes and fees paid ahead of time) for 36 months and 12k/yr. The MSRP quoted to me was $47,625.00 and the residual is $29,527.50. Is this a good quote or can i negotiate a better price? Thanks for any help as I received the quote from a lease broker and the dealership where I leased my last two (2) lexus rx350 and rx 330 was appox. $50 higher for the same vehicle.

rstover311

To me the $528 sounds real good based on the mf of .0022, However I've heard there are new rates out to be effective Monday (15th). I'm calling around now to see. the Spring thing is the .0022 special, but there might be one of top of that.

rexx08

What was included besides navigation to get to that MSRP? Premium package plus what other options? What was the sale price you agreed on from which to calculate lease payments? Thanks.

sxsund

You may want to first negotiate the price of the car first. Then you could calculate the monthly payment after using the negotiated price.

what is the money factor and what is the acquisition fee in the lease?

gothosed

This is first time leasing a car ever - lived in NYC up until now. Just leased a 2010 RX 350 with Nav, Comfort and Premium Package. MSRP of 47,385. 48 months, 12K miles, $0 down, tax and fees rolled up. $699/month including tax. Thought it was decent deal because Cadillac dealer was quoting us more for an SRX Luxury with 0 down and MSRP of 42-something ... and we were in a rush. Found this forum and realized that we got completely hosed. I know I can't return it, but anything I can do?

plasma4u

I've leased 2010 RX350 FWD today at Fremont Lexus dealer.

MRSP: $47~48K (premium + comport+ navigation + 19" wheel + etc)
Sales price: $43,340(?) - $400 over invoice
Residual/ MF: 60%/ 0.230 w/ 15K per year
Downpay/ monthly: $8000/ $444 including local tax @9.75%

I turned in my previous Acura which had one month lease left, and the lexus deal agreed to pay off.

I could have negotiated sales price at invoice with more hassle, but I just accepted the offer. I didn't want to have it back and forth for $10 per month reduction, and I was glad that they would pay off the previous lease with some minor damages.

It was very smooth and pleasant transaction.

jayrider

Live and learn.

rexx08

Have you been able to locate the "improved" RX350 lease rate terms or other incentives as part of the "Spring to Lexus"? Not surprisingly, the two dealers I've been talking to in my neck of the woods are playing coy, stupid (or both). Many thanks.

rstover311

It turns out that there isn't anything beyond the .00220 for the RX as I was led to believe (maybe on other models?). So the Spring for a Lexus is it.

FWIW: I leased the $47,625 car @ the .00220 MF @ 62% and purchase price of $43,434, total monthly $585 & about $1,700 inception. Not the deal of the year, but probably fair for all. Should arrive this week but with this weather in the NE can't say for sure.

rexx08

Thanks. What options were included to get to that MSRP: Premium, Navigation, anything else? FWD or AWD? I'm still mulling things over.

tnsjconvert

Just got a postcard in the mail today from Lexus - Free maintenance on any new purchase and it last the duration of the lease or financing. I think up to 36 months for a lease and 60 months for finance. Keep your eye out in the mail if you're a previous owner or perhaps maybe even those on their mailing list.

jolla99

rstover,
does $585 include taxes? If so where did you get this deal?

I was quoted for a 2010 AWD w/Prem,Comf,Nav(12speakers)
MSRP $47,625
Selling $43,643
12K - mileage
$1659 initial fee, $602/mo (including taxes)

And this was through Costco pricing, which the internet manager says is $500 over invoice. The numbers don't quite add up. Apparently the dealer's local Ad Fees (approx $1,000) was also added to the invoice. Has anyone ever heard of this?

rstover311

My deal does include tax (NJ @ 7%). My first thought is the money factor is wrong. The old one is .00245 and the new one is .00220. This could be the difference between the two quotes as the car looks to be exactly the same. see if that works

tas52

After deliberating whether or not to step into a new lease of a 2010RX400h, I have decided to buyout my 2007 RX400h. Beyond the buyout cost of the car, I have been quoted an "administrative fee from the dealer" of $895.00 and an additional $995 to certify the car as a "preowned Lexus" which would erase my existing warranty (I have one more year or 8,000 miles) at purchase and I would be given a new warranty (3years 100,000). Can anyone tell me their experience in a buyout of their lease. Are these charges standard an or negotiable?. Is it really worth paying for the certification of this vehicle?

jolla99

rstover...

how many miles on your lease?

rstover311

12k

khan95osu

A certain dealership in Rockville, MD quoted me a sale price of $43432 on a $47625 rx350. Great deal right?! well the lease payment he gave was $693 all inclusive, just first month due.

Calculate:
MSRP : $47625
Negotiated: $43432
Residual (36/15k) 60%
MF : .0022
tax 6.75%
title $219
Aquisition $700.... and you get $639 out the door just first month due. i explained this misquote, and the guy on the other end said the lowest he could do is $675, any lower and "he'd be losing money". Even after explaining that $639 is based on his own #'s he wouldnt agree to it. So they are throwing in extra fees or they are cranking up the MF. Either way, bad experience. I'll write it in the dealer reviews.

salineg

I wish I got that postcard. Is it only good at your dealer?

salineg

I am in the same situation...have a 2007 400h lease coming due. Can't decide if I should get a new one or buy it out. I wasn't aware of the 895 fee, but did hear that it could be 3500 for the certification...which is much more than you were quoted.

maximafan

Hi, Tas52. I'm about to be in the same position as you are. My lease will be ending in about 5 months on my '07 RX350. I'm also debating whether to buy my RX at the end of the lease, as I have been very pleased with this car and am very attached to it.

Ironically, I am driving a 2010 RX350 loaner car right now, since I'm having the oil change, tire rotation and new rear brakes put on my '07.

So far I'm still unsure if I would want to "upgrade" to the 2010.
One thing I am noticing is the exhaust sound in the 2010 while accelerating or even sitting at a light seems noisier than my '07, maybe not even as refined in sound. Also, in my short time with this vehicle, I'm starting to think the interior does not live up to the
47,000 or 48,000 MSRP price tag on this car. (Sigh!)

I think my problem right now is I'm just not able to get too excited with this vehicle like I was with my '07. The loaner vehicle they gave me has the Nav and Comfort package. My RX doesn't have the Nav, but I like having the rains-sensing wipers among the other standard features that it has. So this means, if I wanted to get into a 2010, I would have to get the Nav and Comfort package,
thus bringing the MSRP on this vehicle north of 47,000. The MSRP on my '07 was 40,000.

As far as the Certifying on your Lexus for being a preowned vehicle, I was not aware of this charge. What do you think the advantage might be? The only thing I can think of is it sounds like you will get to extend your warranty on your current RX, am I correct on that? The administrative fee you mentioned doesn't really surprise me. It's just profit for the dealer. I would like to know if anyone else can let us know about their experience in buying out the lease on their vehicle, specifically with Lexus.

idrive54

Can anyone confirm that the residual percentage is 2% less with RXh's with the RESS? I understand that a 36 month lease with 12k/year is at 60% versus 62%.

What is the logic?

thanks

tnsjconvert

Its good at any "participating dealer". Covers only 30 months of maintenance though after reading the fine print. Still not bad.

salineg

Looks like I pulled the trigger...

msrp 55744
price 51900

residual 60%
mf .002

36mo
15000 miles
725/mo (including taxes) +acq and doc fees of 950
can the acquisition fee be waived if you are coming off a previous lexus lease?

does this sound resonable? It would be 690 for a 48mo

cruiserron

What makes up the MSRP of $55,744? I thought I had just about every option, including heads-up, luxury package, and Mark Levinson, and my MSRP was $52,600.

cruiserron

Sorry, mine is a rx 350.

oiakou

Car_man and forum participants,
I am looking to lease 2010 RX350AWD with comfort, premium, navigation in the NYC area in mid-March...

1) Would you be kind enough to let me know what's the current lexus financial residual and money factor for 36mo/10K lease?

2) Any insight into the upcoming rates/incentives, would you expect things to change drastically in March?

rstover311

To the best of my knowledge the current MF is .0022 and the residual on 10k would be 63%. The car you mentioned looks like it should retail for $47,625 and sell for about $43 & change. 36 month should be around $570-590 I would guess, with no money down but paying inception fees of around $1,700. Hope this helps. I've had my 350 for a week now and just love it....very nice car!

CarMan@Edmunds

Hi kc3207. Lexus' current lease program on this vehicle varies by trim level, term and mileage allowance. you never mentioned what any of these variables are, so for now I will have to make some assumptions. Let me know if you want something different.

Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2010 RX 350 AWD without the entertainment system with 15,000 miles per year are .00220 and 60%, respectively for consumers who qualify for its top aka Tier 1+ credit tier.

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CarMan@Edmunds

Hi idrive54. The addition of the Rear Entertainment System does indeed knock two points off of the RX's residual values. The addition of expensive options like navigation or the entertainment system that many customers don't even want almost always has a negative impact upon vehicles' residual values.

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CarMan@Edmunds

I'd be happy to help you out, oiakou. According to the latest information that I have seen, Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2010 RX 350 AWD without entertainment with 10,000 miles per year are .00220 and 63%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

I believe that this lease program is scheduled to run through the end of March. While it is possible that Lexus would make an unscheduled revision to the program, the more likely scenario is that it stays the same through the end of next month.

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idrive54

Thank you very mych Car_man - I appreciate your response

oiakou

Thank you, Car_man and rstover311. Will let you guys know my #'s if end up pulling the trigger on RX350 lease

soapdish616

Just pulled the trigger on the following 2010 RX 350 FWD, please tell me it was a good deal:

36 mo, 12k/yr
MSRP: 45486
Sale: 39779.5
Tax: 9.75%
MF: .00220
Monthly: $510 inc tax
Drive off: $2000 ($552.75 license fee, $700 bank doc fee, $216.17 cap red + $21.08 tax and $510 first month)

tmasjr

WOW!!! Unless I am mistaken, thats a great deal. CARMAN? I am thinking of switching from ENCLAVE or SRX to RX350, if this is true? These GM plans really suck and they couldnt care less if you did it or not. Ford, with MKX, was good, but this sounds great.

How was the vehicle equipped for $45,486?

timtanium

Sounds like a great deal. Looking at your tax rate I assume your in socal. What dealer did you go too??

sachatina

What packages did you get on your new RX?

tmasjr

I just got my face ripped off on this offer from a local AZ dealer, no where near the deal that soapdish got. Can anyone verify soapdish deal, if accurate, and how bad this one is on my end? I am not doing it, not at that price. Its the exact same car MSRP 45486

Here is the excerpt from my email;
"I would be happy to sell you a 2010 RX350 at dealer invoice, using the current residual values, your requested term of 36 months, 10,000 miles per year, money charge of .0023, and $1400.00 TOTAL out of pocket; your payment would be $584.xx per month"

This sounds really high, and no where near soapdish.

mileage88

I heard this on the news.
http://www.reuters.com/article/idUSTRE6205G220100302

I hope will be the same as the lease

szt

I am looking for a 36K, 15K lease for the RX 350 AWD with nav and entertainment. I should qualify for a tier-1 rating. Its my first experience leasing a car - I bought my earlier cars. I am in NJ and the I got the following quote from a Lexus of Edison:
money factor: 0.00220, residual: 58%, monthly payment: $630 with taxes, fees:$4000 with MSRP: $51,584.00 and selling price: 44,760.00. Based on the posts here, it looks like I am being taken for a ride (and this is a HUGE climbdown from their initial numbers!). Could someone please guide me to the right numbers and maybe the right dealer in Central NJ? Thanks.

wushumaster79

This is my first time posting and would appreciate anyones help, especially car_man and/or kyfdx. I'm looking into getting a 2010 RX 350 AWD with nav and options ($47,018 MSRP) 36 months 12kmiles/year. Trying to determine what the residual and money factor are now. I live in the Northern Virginia area and was trying to determine what the best lease deals have been and where you went to get them. Also, does it matter if one gets a RX built in Canada or Japan? Thanks!

szt

I had a type in my previous email: Selling price is $46,760.

szt

I am looking for a 36K, 15K lease for the RX 350 AWD with nav and entertainment. I should qualify for a tier-1 rating. Its my first experience leasing a car - I bought my earlier cars. I am in NJ and the I got the following quote from Lexus of Edison:
money factor: 0.00220, residual: 58%, monthly payment: $630 with taxes, fees:$4000 with MSRP: $51,584.00 and selling price: 46,760.00. Based on the posts here, it looks like I am being taken for a ride (and this is a HUGE climbdown from their initial numbers!). Could someone please guide me to the right numbers and maybe the right dealer in Central NJ? Thanks.

genapol

See Ray Catena Lexus in Ocean...just got one today from a courteous and good salesperson...no games played. Check into the "returnable security deposit" offer by Lexus...an incredible deal...