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

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  • josswjossw Member Posts: 9
    Sure. I got the RX from Longo Lexus in El Monte. They seemed more motivated to move their 2009 RXs than anyone else.
  • jaodowdjaodowd Member Posts: 2
    this is great info, i never dreamed i could afford this car, guess what! I live in New England, Rhode Island to be specific. trying to buy an '06 but they won't come under 27000. Now I will consider leasing, never have before, not sure in this economy, any advice???
  • jaodowdjaodowd Member Posts: 2
    What is residual?
  • josswjossw Member Posts: 9
    I don't understand things like residuals, cap costs, etc. I just started with the fact that I wanted $0 driveoff. Then I spent the last two days of September hiding out in my office at work and talking to various Lexus dealers on the phone. We must have 25 Lexus dealers here in Southern California.

    My office became a virtual war room. I had newspapers strewn all over the floor, quotes written everywhere, my cell phone was smoking from overuse. I was in car buying hell!

    By the time I emerged soaked in sweat, I had my best deal. Longo Lexus paid for tax, title, registration and gave me $0 driveoff. I just paid $499 (including tax) for a $44,401 vehicle. 3 years, 36K miles. I lost 6 pounds, almost got fired from my job, and spent the next two days in bed.
  • kyfdxkyfdx Moderator Posts: 236,696
    LOL.. That's a great story!

    A great deal, too!

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  • yogibearsdyogibearsd Member Posts: 10
    Hello all -

    I just wanted to share the deal that I did today. 2009 RX350 FWD with Nav. and Luxury Value Edition, MSRP 44056, 36 mo, 30 k miles for 450/mo with MSD and out of pocket of 900. Thanks for everyone that shared their deals. It has been of a lot of help for me in negotiating with the dealers. The dealership was Newport Lexus - excellent people - very, very easy to work with and ask for Philip.

    Thanks.

    :)
  • roheyrohey Member Posts: 4
    Tried to post a new thread but maybe since I am newbie I am not allowed?

    Anyone know what Lexus VIP Status is. Is this something with Lexus or maybe a program for specific dealers?

    Anyhow insight on creating a new thread would be helpful as well.
  • sharkaphobesharkaphobe Member Posts: 1
    RX350 FWD NAV PPP 7 spoke LG wheels
    MSRP - $44026
    Sold - $38700
    56% residual
    3.7% money factor
    bank/acquisition fee = $700
    doc fee = $45
    Title/reg/lic = $324

    12K miles/yr 36 mo lease

    I feel like I got "killed" by the fees. As for the money factor, that was the current promotion so i couldn't go any lower.....Did I get raked over the coals???? Truth is though...i love the car. It's so sweet.
  • uis00snuis00sn Member Posts: 18
    Have gotten mine yesterday at Lexus of Rockville, MD.
    Here it is:
    Advertisement was
    2008 Lexus PX350****
    $ 399 per for 36 Month Lease = 14364
    All leases are 10,000 miles per year and require the following at lease inception: 1st payment, applicable state & local taxes and tag fees, dealer processing fee of $349, down payment $3495 on the PX350, $700 acquisition fee
    PX350 AWD MSRP $43,591
    ------------------
    1st negotiated a price for 39800. Then the complicated part started. Since I've come in FULLY prepared w/ all numbers it was well over the salesperson's head and I've dealt with the Gen.Sales mgr. He offere MF which translated to 5.52%APR which I immediately declined. After some haggling MF of 0.0013 (3.12% APR) was given.Oh, my FICA is 791. I've used a VERY interesting option (if you have some extra cash and don't mind to lock it for 3 yr at a rate of return of 15%/yr :) ) and added a multiple security deposit of 9 monthly payment - $3375 which brought my MF down to .00058 i.e. 1.392 % APR. So, my monthly payment is 353.19. Residual is 23975. I've paid taxes on a selling price (unfortunately, that's how it's in MD, I've had the dealer to show me the official state docs on it just to make sure), 1st month payment, title/tags, 3495 downpay, 700 acquisition fee, NO dealer fee and 3375 refundable security deposit. I also redemed $1679 I've accumulated using Lexus VISA AND $750 gift certificate from Lexus for attending their driving event this summer. Since there is a promotion for Lexus Visa until 10/31 I'm receiving another $500 towards my next (in 3 years) Lexus + by paying $5000 of "drive away" amount with, again, Lexus Visa
    there is another $250 for me :) Everything w/ paperwork has taken 5.5 hrs. I think time was well spent.
  • marinitemarinite Member Posts: 44
    Yes, it's true, it's still here. Plus, I have only heard about fluctuating m.f. on the leases... the residuals are the same, the m.f. is .00100 for top tier (720+) people - according to one dealer.

    Funny, the m.f. another dealer was quoting was higher - and in the same region of CA. Which, stalled my purchase, of course, when the numbers are all over the place.

    Any new lessees? Trying again either this week or towards the end of the month when things are likely to be hopping because of Turkey Day and all.

    Thanks for any info...
  • znelson32znelson32 Member Posts: 8
    My dealer tells me it's not worth leasing a CPO even though LFS offers the program. Does anyone know the lease money factors and other information on a 2006 RX330 lease? Assume ~35,000 miles and a sale price of $30,000.

    Thanks in advance! - oh I should mention, this forum saved me $5000 on my ES350 purchase last year!
  • indus2indus2 Member Posts: 20
    looks like there are decent lease deals to be had on an rx350 these days in the tri-state area. 36 months, 15k/year, inception fees out of pocket (i.e. no cap cost redux), no sales tax up front (i.e. rolled into the monthly paymt) - around $450/month
  • indus2indus2 Member Posts: 20
    to the best of my knowledge, 09 RX350 AWD (non-NAV and non-Entertainment)numbers for November are as follows (36mo/15k). Car_man - would be great if you could confirm...

    Residual: 52%
    MF: 0.00095

    There is also a $1K dealer cash, and some sort of a $1K coupon from Lexus that can be used toward an up-front paymt.
  • marinitemarinite Member Posts: 44
    I think the residual is 54% but then again, I'm looking at the Nav which might change things. Ah, I see you're doing 15k so 52% is likely correct. I'm looking at 12k.

    Yes to the .00095 mf for top tier fico scores from what I'm hearing, too.

    What quotes are you getting? Mine are all over the place.

    Cheers.
  • indus2indus2 Member Posts: 20
    $36.8K for the non-NAV (MSRP $43,591)
  • briegelbriegel Member Posts: 139
    indus2 and marinite...What region of the country are you two in? My daughter and son-in-law were quoted a mf of .0013 and $39,000 for a non-nav in Seattle.
  • cityboy2cityboy2 Member Posts: 27
    Was shopping all day today. The best deal I've got so far: 08 RX350
    $495/m, 10K/y only, and no NAV. Not good at all :( Any advice would be appreciated. and yes, my fico is in upper 700. Looks like you are getting much better deals. Have you seen anything printed or on TV? I'm in try-state area.
  • indus2indus2 Member Posts: 20
    i'm in the tri-state area (nj)
  • indus2indus2 Member Posts: 20
    Citiboy - leases are far better on 09's now than the 08's. I recommend you do your shopping by phone (ask for Internet sales), this way you can cover many more stores and find one that's willing to negotiate. Suggest you call a couple of dealerships in Northern NJ, I found they were most flexible. The advertized special, if I recall correctly, is 2009 AWD, $3495 cap cost redux and $399/month for 36 months/10k. The deal you're being offered on the 08 is about the same as that advertized lease, Trust me, you can do MUCH better than that now.
  • womblewomble Member Posts: 28
    anyone know current residual and money factor on rx400h? I am coming to the end of my lease on my 2006 rx400h and will probably get 09, but hear they are much more expensive to lease now. There were a lot of them to choose from back in 2006 so dealers were flexible. thanks
  • marinitemarinite Member Posts: 44
    SF Bay Area. Top tier m.f. was verified at .00095 - and best offer I've seen if for $37,588 for a FWD with Nav (Premium Value pkg). I have to say that the AWDs are only a bit more.

    I did ask one dealer about matching Rosalinday's price and he said "no way." And, this was the same dealer she used, he found no record of a purchase for that price, that day either - so not sure what's up there.

    Rosalinday - if you're still reading, let us know pls!! Thanks!
  • marinitemarinite Member Posts: 44
    Thanks Indus2,
    I'm getting in the mid to high $37,xxx for one with Nav., $38,xxx for awd.

    I just saw an invoice with the dealer numbers and there's more than 1500 in profit (holdback, finance, and tda) if they get the 1000 rebate and 1000 certificate from the manufacturer, which I think is the case. So, nobody wants to dip into that so far, assuming the manuf is kicking in the rebates/certs.

    Any thoughts? Seems fair enough, they need to make money and with this economy, they seem to be giving less of it up lately. One GSM didn't want to match another dealer's quote so going to a volume dealer might help. Just my 2 cents.

    Fwiw, yes - shop the '09s, better deals to the person looking to lease. Should be able to get something in the high $400s w/no down, by my calculations. www.leaseguide.com/calc.htm has a great lease calculator.

    Cheers and good luck all!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congratulations on getting your new RX, uis00sn. You certainly used all sorts of tricks to get your truck's monthly payment down, coupons, credit card points, MSDs...I'm impressed. Thanks for taking the time to share the details of your lease with everyone. Make sure to hop on over to the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience as well. Enjoy your new ride :shades: .

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi marinite. Lexus Financial Services' current buy rate lease money factor for the 2009 RX 350 is .00095 for consumers who qualify for its Tier 1+ credit tier. Lexus is also providing 0.9% to 2.9% special financing and $1,000 dealer cash on this truck right now.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • cityboy2cityboy2 Member Posts: 27
    You were very close in your estimate. just got a couple of quotes and the best one so far is $495 inc. tax, no down, no options, '09 AWD, 10K/y, 36 months. Same with Nav. package $520. Still seems a bit steepy, but..
    Should I pull the trigger or continue shopping, or wait for Thanksgiving/End-of-year specials? As usually the dealer is pushing saying that the price includes a coupon which will expire soon. BTW, do you know anything about this coupon expiration day.
  • cityboy2cityboy2 Member Posts: 27
    hey sharkaphobe,
    looks like you've got a sweet, sweet deal something around $490/m before tax for a VERY good package. mind to help me find this dealership (no phone. just name, city and state). hope they still have this deal.
  • 2iugrads2iugrads Member Posts: 4
    This is the opening offer I received on a 09 AWD w/Nav 36 month 15k lease:

    - MSRP $46,240
    - Money Factor 0.00085
    - Residual 52%
    - Tax, title, tags included
    - $2000 down (covers first month payment & tax)
    - $617.00/month

    I figure I'm getting about $2000 off MSRP, is this about what the market is giving? I'm located in Ohio.
  • briegelbriegel Member Posts: 139
    Car man...Does that .00095 mf apply in the Seattle/Northwest Region? My daughter and her husband are being given a mf of .0013 in Seattle. Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi indus2. The money factor and residual value that you mentioned are correct.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi womble. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2008 RX 400h AWD with 15,000 miles per year are .00150 and 48%, respectively. The residual value for a lease with only 12,000 miles per year would be 2% higher.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi briegel. To the best of my knowledge the .00095 money factor is a national program. Keep in mind that this money factor is for consumers who qualify for LFS' Tier 1+ credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • indus2indus2 Member Posts: 20
    Cityboy, i think you can do better than $495 for 10K/yr lease now, I'm not sure where they'll be around thanksgiving. I've been quoted ~$490 for 15k/yr without much negotiating. Try calling Prestige and Tri-county and see what they say.
  • womblewomble Member Posts: 28
    thanks car man... do any of those numbers change for a 2009 rx400h?
  • mjfloyd1mjfloyd1 Member Posts: 3,270
    Car_man,
    How much does each security deposit decrease the MF with the lexus rx350 lease?

    Have you heard of a $1000 close certificate through lexus - I saw this on the prices paid forum?

    Mark
  • laserslasers Member Posts: 5
    Hello 2IUgrds, Are you nuts, do not pay over 600/month lease. Get 40k net price, then get 100 off rebate, and then get the lease, should be less than 500.
  • mjfloyd1mjfloyd1 Member Posts: 3,270
    I just found out that each security deposit decreases the MF by .00008
  • 2iugrads2iugrads Member Posts: 4
    I figured, and actually I got a much better quote from a Cleveland dealership.

    - 0 down
    - 41000ish Net cap cost
    - payment of $545/mo including tax

    This is about 5k off MSRP, would this be about right? I'm going to a dealership in Columbus tomorrow.
  • cityboy2cityboy2 Member Posts: 27
    2iugrads, your car's MSRP is way to high. But it is really about personal preferences. In NY tri-sate you can get around (depends on tax at your place) $500 including tax for 36 mo., $ 0 down,10K mi/y, MSRP $45,426 (Premium Plus, NAV, heated seats, wiper sensors, 18" tires, etc.), but your credit have to be in Tier 1. And this is not just talks, I've got three offers in writing v. email. Using mf of .00095 and RV of 55% you may see that Ajusted Cap. Cost they use (considering my tax is 8.125%) was around 39,500. That is about $400-500 less than invoice price. How did they do it I do not know. Probably they used $1,000 dealer cash Car_man mentioned or some other coupons currently available to them or to us which we do not know of.
    I think you can get similar deal nationwide, but most definitely in Northeast.
  • 2iugrads2iugrads Member Posts: 4
    Thanks for the reply. I think my current deal is pretty comparable.

    36mo
    15k mi/y
    MSRP + destination $46,240
    cap cost = $40,240
    MF 0.00085
    RV 52% (5k mi/y more)
    $0 down
    7.75% tax included
    payment $545.00

    Have this quote in writing and confirmed over the phone
  • cityboy2cityboy2 Member Posts: 27
    mjfloyd1, I understand the economy of this deal, but how to apply this in practice. Mind to share any knowledge?
    Moreover, are these security deposits would be refundable if car stolen,totaled, etc.?
  • cityboy2cityboy2 Member Posts: 27
    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?
  • 2iugrads2iugrads Member Posts: 4
    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 Member 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
  • cityboy2cityboy2 Member Posts: 27
    Tough. Abstain from running to a dealer uneducated! or you have a good chance to be taken for a ride. Sorry gotta run now.
  • cdwillicdwilli Member Posts: 2
    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.
  • patriot21patriot21 Member Posts: 10
    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?
  • maximafanmaximafan Member Posts: 592
    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.
  • md_outbackmd_outback Member Posts: 185
    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 Member Posts: 139
    2004 was the first year of the current RX style.
  • mdinnymdinny Member Posts: 1
    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
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