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

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Comments

  • redraider1994redraider1994 Member Posts: 1
    I am trying to lease a 2009 RX350 for my mom. Here is the current deal and I am trying to determine if this is good or not:

    Nav system, no DVD
    36 month/15k miles
    First month pmt due at signing along with $200 or so for license (taxes and all rolled in)

    MSRP: 44,841
    Cap cost: 40,726
    Money factor: .00180
    ** The have to get the car from another dealership so they have some transfer costs
    52% residual

    Pmt: $598/month

    Any idea if this is any good and if not, where I should target?

    Thanks for any assistance!

    Shawn
  • TimelockmindTimelockmind Member Posts: 30
    Shawn -- you can do WAY better. Take a look at the other lease deals on the page and try to match them with your local dealer.
  • BlessendcBlessendc Member Posts: 12
    yeah i think i will wait till then. there are so many dealer i can use around here that i will let them fight it out at the end. worse comes to worse i will goto the local mercedes because i know the sales manager there and the amount of business referrals i send them!!
  • gordo025gordo025 Member Posts: 6
    Hello Redraider1994,

    I am signing on a deal this afternoon for the exact same vehicle and MSRP. I don't have the exact cap cost for my deal but I can tell you the Money Factor is .00095 and 52% residual. My deal is for $1,100.00 Out of Pocket and $481.00p/month tax inc. So you could work on the Money Factor for sure. In case you may not know, tell them about the $1000 Manufacturer to Dealer incentive, to throw that in. I'm actually considering going with 12k per year to bump the residual up to 54% and save and extra $28 per month more. Hope this helps.
  • gordo025gordo025 Member Posts: 6
    Could anyone answer this for me? I see the Cash to Dealer support at Edmunds has changed from $1000 to $2500 begining December 2nd. Is this correct?? Do we have and extra $1,500 to negotiate with? Anyone's quick response would be greatly appreciated as I am slated to sign a deal later today.... Thanks.
  • trachdatrachda Member Posts: 9
    We were offered one with navigation, XM, Ipod hook up, 20,000 miles/yr with $1700 down for $699/month in a 36 month lease. Lexus told us the prepurchased miles are @$.20/mile, I know Acura and Infinity are $0.10/mile as we are comparing the Acura MDX and Infinity FX35. Is this a fair deal?
  • dealmaker2008dealmaker2008 Member Posts: 47
    Think this is a good deal if it includes NAV and DVD for the payment. Can you give me all the trims when you purchased and out of door fees for your case? Tks.
  • trachdatrachda Member Posts: 9
    sorry i forgot to add that the payment also includes the dealer absorbing the last 2 lease payments of my current acura lease for a total of $1232 so I could purchase now and not wait until my lease runs out. This is at a dealer in northern NJ.
    Thanks Dan
  • gordo025gordo025 Member Posts: 6
    Thank you Dealmaker. I've been shopping for about a month. I shopped the deal around the other dealerships I had already negotiated with and only one would match it, not beat it, and only for a vehicle they had in stock which they didn't have. These are the terms I signed yesterday:

    MSRP $44,841.00 (DVD NAV, Premium Plus, Towing Pckg)
    Sell Price $37,698.50
    Terms 36/12k
    Money Ftr 0.00095
    Residual 54%
    Out of Pocket $1,100.00 (First month, Tag, Fees, Cap cost reduction)
    Monthly $481.00 tax in (7% tax)

    Reading the forum I have noticed that Regional location seems to matter for pricing pressure as well. I'm in Miami and Lexus is not struggling here. This was actually the only dealership which had the color combination I was looking for (smoky granite with black int.) and only had one. they are selling this vehicle rather easy here from what the dealerships have told me. They are more concerned with getting allocation for the 2010 RX.

    Hope this could be of help to someone down South if it's considered a good deal.
  • dealmaker2008dealmaker2008 Member Posts: 47
    gordo025, still think you walked away for an excellent deal esp with woth low out of pocket and monthly and 12K per year and about 8K under MSRP. Is it AWD or FWD? Car shopping is a very stressing business and I am glad for you it is over and now to kickback and enjoy.
  • gordo025gordo025 Member Posts: 6
    Thanks again Dealmaker. The vehicle is FWD. AWD is not seen much here. I actually asked at some of the dealerships for the AWD, since that's the vehicle I see most on the forum and can compare my deal to, but they only had a couple in stock. It's sold more up North I was told due to the different weather conditions.
  • leaser310leaser310 Member Posts: 7
    Got a price on an 09 RX350 AWD with Nav and premium plus package, liquid graphite finish, heated seats, towing prep, cargo mat and wheel locks for $38000. Question one: Is this a good deal?

    Thinking of leasing, but dealer won't tell me the residual on this car, nor the money factor (which I read in a previous post is .00095). I'll cover tax etc., but not put any money down.

    Qeustion two: The dealer quoted me $493/month for a 3 yr lease with 12K . Without the residual and money factor I can't figure out if this is a good deal. Anyone have enough info on residual and money factor to let me know? Thanks in advance...

    CCB (confused car buyer)
  • TimelockmindTimelockmind Member Posts: 30
    Leasor310

    Not a good deal. I got almost the same car and paid just over 35.
  • JBO12JBO12 Member Posts: 8
    Timelockmind - what part of the country was this if i may ask? i think leasor310 is in the nyc tri-state area like myself. dealers here have been holding firmer on pricing.
  • indus2indus2 Member Posts: 20
    Blessendc, if you haven't finalized your deal, try Prestige Lexus in Ramsey, NJ... I found them to be most competitive around here. Suggest you give them a call, ask to speak with Internet Sales, and tell them you're ready to make a deal. I am not sure whether $1k dealer support still applies (I seem to recall the program ran through Dec 5th, and I dont know if Lexus extended it), nor whether the $1k Lexus coupon is still available.

    Good luck
  • indus2indus2 Member Posts: 20
    Timelock, glad you found info helpful. I expect that in 3 years you'll close the deal before me and I'll be able to take advantage of your terms :-)
  • TimelockmindTimelockmind Member Posts: 30
    I'm in Los Angeles. There are several dealers in the surrounding area -- almost all are willing to deal bare-bones. I never thought I would be able to get $9,000 off list on a new Lexus (this was due, of course, to the perfect storm -- the economy, a new RX model soon to be released, and the end-of-the-year inventory pressure.)

    Combine these factors with knowledge and the internet and you can save several thousand dollars on a purchase/lease.

    Thanks to everyone for sharing!
  • dealmaker2008dealmaker2008 Member Posts: 47
    Which deal in LA did you get 9K off MSRP?
  • TimelockmindTimelockmind Member Posts: 30
    As to dealers... try Keyes in Van Nuys, Santa Monica Lexus, or Longo Lexus -- they are all in the ballpark. Just push hard (but respectfully) and keep your wits about you. And remember, I got my deal during the last few days of November. I believe the dealers will be even more motivated between Christmas and New Years.

    And by the way, someone mentioned that Lexus has increased the dealer cash back from $1,000 to $2,500. I have no idea if this is true or not - but if it is, perhaps someone will get the first $10,000 off list on this board.

    Oh, I almost forgot - my wife and LOVE the car (much better than our Mercedes ML350!)
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congratulations on getting your new RX, scottyb5. Thanks for taking the time to share the details of your lease with everyone. If you'd like, you can stop by 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 gordo025. That is correct, on 12/2 Lexus raised its dealer cash allowance on the 2009 RX 350 from $1,000 to $2,500. I believe that this cash is compatible with Lexus Financial Services' special lease program. If so, you do indeed have another $1,500 to play with in your negotiations.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • JBO12JBO12 Member Posts: 8
    Given the large discrepancy between prices of these autos in California and NYC, has anyone explored the idea of buying in CA and sending the car to NYC? What are the costs of shipping/insurance/others that ought to be factored in? Also, what might the implications for someone such as myself who is considering a lease under this scenario given that it would be a car from out of state?
  • oghowieoghowie Member Posts: 60
    I'm looking at the MSRP and Invoice pricing listed on Edmunds / Costco vs the Lexus website and the Lexus website MSRP is lower than the listed MSRP prices from other sites. Did they lower it recently? It's hard for me to judge the real invoice price of the 09 RX350 without the correct or updated info.
  • KMS_ClevelandKMS_Cleveland Member Posts: 25
    I just called my first dealer last night and got the following offer:

    36 month lease/15k
    RX350 AWD, Navi and Premium Package
    MSRP $46,241
    MF: .00075
    Residual - 52%
    Selling Price $39,178
    Total due at signing - $1,526.25
    Monthly payment (x35) - $499

    After one call, this seems too good to be true. Any thoughts?
  • briegelbriegel Member Posts: 139
    I did this four years ago with Lexus of Riverside (CA), having my RX 330 shipped up to the Seattle area for about $600 and leasing it through LFS...very smooth transaction! Shipping costs may be more now, and NY is probably 2-3 times the distance, but it may still be a money-saver. The Internet Manager at Lexus of Riverside handled the whole thing...check with him. Other California dealers will probably do the same thing. Good luck!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi leaser310. Here's the information that you need on Lexus' lease program. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2009 RX 350 AWD with Navigation without the entertainment system are .00095 and 52%, respectively for consumers who qualify for its Tier 1+ credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • womblewomble Member Posts: 28
    Hi, I know a lot of people leasing toyota highlander hybrids because they claim the lease prices on the rx400h are still high. No-one on this forum seems to be talking about the 400. I'm about to start researching my lease for a new 400h I have a 2006. Is anybody still buying/leasing these cars? Are they being left behind by flex fuel suvs? I LOVE my 400 altho the steering is squirrelly but I want a good deal on a 2009 or I would consider another car. I would imagine it's an absolute buyers market right now. Any thoughts welcome!
  • KMS_ClevelandKMS_Cleveland Member Posts: 25
    I am going to the dealership on Saturday morning so if anyone, especially Car Man, can give me any thoughts on the following deal:

    I just called my first dealer last night and got the following offer:

    36 month lease/15k
    RX350 AWD, Navi and Premium Package
    MSRP $46,241
    MF: .00075
    Residual - 52%
    Selling Price $39,178
    Total due at signing - $1,526.25
    Monthly payment (x35) - $499

    After one call, this seems too good to be true. Any thoughts?

    Also, I was thinking of adding the rear dvd player but the deal said they don't residualize them. Has anyone had any luck having them residulalized? Thanks in advance.
  • BlessendcBlessendc Member Posts: 12
    Hey KMS
    i've been looking for deal on a similar car and no one so far i dealt with, came close to that deal. if that price is with tax i think its a good deal. Im no expert like the others on this board but i think its a good deal.
  • KMS_ClevelandKMS_Cleveland Member Posts: 25
    Thanks Blessendc. It was the first deal I received and it seemed too good to be true but thought there was something I was missing. It is with tax.
  • cityboy2cityboy2 Member Posts: 27
    You probably can do a bit better. Talk to a dealer about reducing Cap Cost (selling price). Say to around 38K. All other numbers are fine. BTW he gave you an impressive MF. Can't get better.
    ..and good luck with rear dvd. This is rare thing on the market of RX350.
  • KMS_ClevelandKMS_Cleveland Member Posts: 25
    Thanks cityboy2. I will trya nd see if I can get him down to 38k.

    I don't think they have the factory installed rear dvd player but he said he would put in an after market one into each of the headrests at $50 over invoice. I was just surprised that he could residualize it.
  • attitudediverattitudediver Member Posts: 2
    I I have been e-mailing with Lexus - Bridgewater, NJ on the following deal:
    C1 CARGO MAT
    FV LIQUID GRAPHITE 18' ALL SEASON
    HH HEATED SEATS/RAIN SENSOR WIPER
    PT PREMIUM PLUS PACKAGE
    TO TOWING PREP PACKAGE
    WL WHEEL LOCKS

    36 month lease/12k
    RX350 AWD,
    MSRP $43,591
    MF: .00095
    Residual - 54%
    Selling Price $36,990
    Total due at signing - $1,1703.30 (1st Month Payment, Motor Vehicle, Doc Fee and Bank Fee)
    Monthly payment (x35) - $446.30

    The 48 month lease has a residual of 44% and simliar charges. The monthly lease is $456.94. Do you think it will go down further? I wonder what the inventory levels are for the RX?
  • leaser310leaser310 Member Posts: 7
    thanks Car_Man.

    Got the car from Lexus Manhattan (NYC). A terrible experience. The salesman said the money fctor was .00171 (and showed me that rate on their screen.) When I told him I had checked the internet and with another dealer and the rate was .00095, he said I was crazy. That was the rate YESTERDAY.

    I accused him of lying, which I know he was. I should have walked away, but I needed a car this weekend. I finally had him meet the price of a dealer from South Jersey, but I hated to buy from him. Later he told me the money factor bump wasn't his idea, it came from the dealership. He was just a salesman trying to sell a car.

    I made a deal -- $2730 for tax, etc up front, and $460/month for 15K. I know it's a fairly good deal compared to the prices from other dealerships, but from my calculations, I know this is more than I should be paying. The salesman argued about deducting the up front costs. He said they didn't deduct the tax and fees from the cap cost. According to others on this site he's wrong, but I didn't know enough about it to argue with him.

    I go to pick up the car tomorrow and I'm kicking myself for having to buy from them. It wasn't just the salesman. I caught the delivery manager in a lie, too -- he wanted to sell me a car that had already been prepped when the buyer wasn't approved for financing. He said the car I wanted didn't have wheel locks and a cargo mat(it did. I had asked for the detailed car inventory).

    This is the kind of dealership that gives car buying a bad name.

    Leaser310
  • cityboy2cityboy2 Member Posts: 27
    do not kick yourself . Better go to the top of this page click on the green button (Dealers Ratings & Reviews) and give this "honest" dealership a "black eye".
  • cosmo96cosmo96 Member Posts: 1
    This is what I got from the Lexus in Larchmont NY:

    36 month lease/10k
    RX350 AWD, Navi and Premium Luxury Package
    MSRP $46,241
    MF: .00095
    Residual - 55%
    Selling Price $39,349
    Total due at signing - $1,684
    Monthly payment (x35) - $475 incl CT tax of 6.5%

    I am happy with this considering it is $40/mo lower than the 2006 RX330 no nav I am returning. I am sure some of you guys have/will do better since Lexus seems to be overflowing with cars in Long Beach CA that continue to arrive on ships.
  • LexRX350LexRX350 Member Posts: 1
    Hey all...first time with this so bear with me. I've been reading a lot of these posts and now have one of my own. Just got the following offer earlier today for a 2009 RX350 AWD w/ the Navi package.

    Dealership was in Englewood, NJ. Offering fully loaded as mentioned, MSRP is just over $46k. $5,000 down (which covers first payment, tax, title, like $3,700 cap cost reduction) for $450 per month @ 36 months. Now this is my first offer (and first requested offer) and I feel that it's pretty good but I just wanted to throw it out there for some guidance. I've also placed a call into Warnock Lexus in Whippany but I'm still waiting to hear back from them.

    I'm looking to land this car before year end but I don't want to rush into the first thing thrown my way. I also don't want to wait until it's too late (even though I'm not even really sure if that's possible in this market).

    Any help would be greatly appreciated.
  • nyc6035nyc6035 Member Posts: 13
    Here's the deal I have and am preparing to move forward with tomorrow...any thoughts:

    (NY Metro Area)
    MSRP: $46241
    Selling Price: $38000
    36mo/10K
    Residual:55%
    MF:00095
    Tax Rate: 7.375%
    Pymt with Tax: $439
    W/o tax (for comparison) $409
    Drive Off $1438 ($700 bank fee, $149 Doc (not thrilled w/this), $150 plates/reg, $439 first pymt)

    Thanks to everyone here for being so generous with information...It certainly makes for a more 'perfect' market.
  • JBO12JBO12 Member Posts: 8
    Thank you all for your posts - the flow of information is really helping people make attractive deals i believe.

    I am going today to pick up my AWD 2009 Pebble Beach Edition with prem plus and nav package - MSRP $47,456. Sales price $40,111, 45 month lease, resid of 47%, MF 0.00095, my total due at signing will be ~$700. I live in the NYC area and i purchased from Rallye Lexus in Glen Cove, NY - what i believe to be a truly professional dealership (for now). $46,241 MSRP models appear to be selling for around $38,500 sales price consistently right now - Lexus of Manhattan and Prestige Lexus in Ramsey NJ are selling them there i understand. I recognize i left a little value on the table in terms of price but instead i had them add features such as a cargo tray my wife wanted and coverage for the 10,000 mile service and maintenance. I also wanted the Truffle Mica color so supply/demand dictated that i had to pay a little premium for that choice in addition to the higher invoice price of the Pebble Beach Edition (which i think is $42,000 vs $41,300 for the Prem Plus + NAV in the Northeast). I decided to capitalize everything in the lease including my taxes and acq cost which is why my drive away costs are so low - figuring that at 2.28% APR i would like to borrow as much money as Lexus Financial would lend me and asked if they would do a side loan with me at that rate but they refused ;) .

    Once again, thank you all for your posts and good luck to all of you in these tough times.
  • skopsskops Member Posts: 5
    nyc6035,

    That is one of the better deals I have seen in the NYC area. Good luck with your transaction. If you would be kind enough to post the dealership name, it would be appreciated. I just started my search and the first and only price I received is approx $50 more per month. Thanks.
  • nyc6035nyc6035 Member Posts: 13
    Skops,

    Sure...Prestige Lexus of Ramsey, NJ....a bit north of paramus...on Route 17....
  • skopsskops Member Posts: 5
    Thank you nyc6045
  • EverythingirlEverythingirl Member Posts: 4
    Hi, I'm considering buying or leasing a Lexus RX 350 within the next 3 months.

    Although I usually buy cars, I am considering leasing this time around because each of the last 3 cars have developed a maintenance issue that encouraged me to trade it in before "it got worse."

    Is the RX 350 a good car to buy (and drive for 100K miles) or is better to lease? If I lease, what should I be looking at (sorry for my ignorance, but I would be a first time 'leaser'." If I lease, I would need 15k miles/yr as I live in the suburbs.......

    I am interested in the basic, stock RX 350. I don't care for any of the upgrades. If I buy, what is the going MSRP? How about holdback? Any incentives?

    I'm in Central FL (Tampa) but am willing to drive to So. Fla. or even all the way to Georgia to get the best deal.

    THANKS!!!! :)
  • sunshine30sunshine30 Member Posts: 7
    Hey There Everythingirl,
    I live in the same general area as you.. After much thought, I decided to buy instead of lease. Have you gone to any dealerships yet in the area? Tampa or Sarasota? Our first attempt at getting a deal, we were quoted $36,000 out the door price for a basic model RX350.

    Wondering if anyone has an opinion if that is a good deal or not. MSRP was ~ $41,000. :confuse:

    Thanks!!
  • EverythingirlEverythingirl Member Posts: 4
    We have gone to Tampa Lexus to test drive and were quoted $40k for "a basic model" RX that included a sunroof, cargo mats, etc. You know- the stuff dealers throw in now but still call it basic. I guess the RX no longer comes with cloth seats and leather is standard now? But when I got home, I saw they had a basic RX on the lot for $37,900 on their website. They upsell for certain colors, etc.

    I have emailed Lexus of Jax and they quoted me $37,300 + tax,tag, title.

    Cars.com quoted $36,000 out the door but they also said the MSRP was $33K.

    These prices do not take into consideration the dealer holdback or any rebates the manufacturer gave the dealer.

    I think this car can be purchased in the low $30s if you truly haggle and are not afraid to walk or go to dealers all over the state. Of course, if you are financing, excellent credit is a must to get a deal like this.......

    I know that Lexus is not in the same trouble as in American car makers, but their sales are still way down......

    I have learned that internet car buying (email the dealer what you want and ask for a price) has become very popular and is a great way to get a handle on what other dealers are offering. I am thinking of pursuing this route and seeing how far it goes. I'll post on my findings- please let me know how it goes with your deals also. THANKS!!!! :shades:
  • fanatfanat Member Posts: 8
    Hey guys,

    I just got this deal from Bay Ridge Lexus in Brooklyn, NY this Saturday:

    36 month lease/10k
    RX350 AWD, Navi and Premium Luxury Package
    Total due at signing - $4,830 - Includes taxes upfront, various fees and large down payment.
    Monthly payment 456.76

    Without getting into MSRP and money factors is this a good deal overall? Seems like an ok monthly payment but should I negotiate on lowering total due at signing? Seems like many people here got much better deals on that.
  • sunshine30sunshine30 Member Posts: 7
    Hi Again- Today Tampa told us we would not get a better deal than $36,000 out the door price on the basic model that we were quoted by someplace else and another dealership said they were taking $3500 off the MSRP. That leaves us a few more places to look at. I would have thought these dealerships would want to get all of the 09's out before the new ones come out early next year but I guess not ... Will keep you posted with the next few places we check with. Hope you are having good luck with your search.
  • TimelockmindTimelockmind Member Posts: 30
    RX350 list 44,000
    Sale price 35,000

    That was at the end of November in LA. Lots of folks on this board have gotten
    7 to 9 off list.

    There is now an additional $1,500 cash back to the Lexus dealers so I assume someone is going to be the first to get $10,0000 off list. The best time to deal may be between Christmas and New Year.

    The dealers know the 'RX 10 will be out soon, inventory is sky high, the economy is getting worse, and another interest rate cut is on its way.
  • sunshine30sunshine30 Member Posts: 7
    Wow, that is a great deal. Im assuming you had to pay taxes on top of the 35,000? Guess I still have some work to do. Im not very good at this! Fortunately, we can wait until after Christmas or New Years to get a better deal. But hey, if I could get $7000-9000 off the price, I would take it now in a heartbeat!
    THanks for the info.
  • drjcool1drjcool1 Member Posts: 45
    JBO12, I too am in the markert for a 2009 RX350 AWD PREM/NAV with 15k or 18k miles per year.What should I expect to pay? What is the Pebble Beach Edition? I too am on Long Island. Were you happy with your salesperson? Who did you deal with?

    Thanks in advance to all who can lend a hand!!!!
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