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

george29 · January 2006

Car_man,

I want to thank you for the invaluable service you provide to the community.

I wanted to know if you knew the fico scores needed for each tier for LFS and associated interest rates/MF.

kaipaji · January 2006

Hello Car_Man,

Here are the numbers I got from a DFW dealer today.

MSRP - 37065 + Premium Plus Pckg ($ 2960) + Alloy wheels ($ 495) + Rain sensing Wipers & headlamp washers ($ 665)
Total = $ 41, 185

36 Month Lease -- Down Paymnt $ 975, Monthly Pymnt $ 750, Residual Value = $ 23,065.

48 Month Lease -- Down Paymnt $ 850, Monthly Pymnt $ 675, Residual Value = $ 18,946.

The Money Factor that the dealership gave me was .00285

After the "let me talk to my manager" thing, they came up with the following quote:

Negotiated Price = $ 39000, Monthly Payment on 48 month lease = $ 625.

I would like to know what you think of this deal.

Also, would appreciate your thoughts on the message I posted on the MDX Lease discussion.

Thanks

soccerpws · January 2006

Car_Man:

What are the current January MF and Residuals on 36 month/12,000 mile leases from Toyota FS.

Also, do you have what the "December to Remember" numbers were?

Thanks.

CarMan@Edmunds · January 2006

Thank you george29. I don't know the exact credit score that is necessary to qualify for Lexus Financial Services' top credit tier (I would guess that it is somewhere in the 730 range or so), but I can tell you that its buy rate lease money factor for consumers who qualify for that tier and lease a 2006 RX 330 is currently .00220.

Car_man
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CarMan@Edmunds · January 2006

Hi kaipaji. If you are in an area where there is a decent level of competition, I suspect that you can do better than the deal that you were quoted. I estimate that the price that you were given is at least $2,000 over dealer invoice. See if you can knock them down on the price a little more. Once you arrive at a price that you are satisfied with, make sure that they use Lexus Financial Services' buy rate lease money factor of .00220 to calculate your lease payment. This factor assumes that you qualify for LFS' top credit tier. If you do, then the dealer that you are working with is trying to mark up your money factor to add additional back-end profit to your deal.

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CarMan@Edmunds · January 2006

Hi soccerpws. If you were to lease a 2006 Lexus RX 330 AWD without the entertainment system through Lexus Financial Services right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00220 and 57%, respectively assuming that you qualify for its top credit tier. I believe that the "December to Remember" special money factor for this truck was .00225, but I don't remember what its residual values were.

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soccerpws · January 2006

As always, my sincerest thanks.

The lease on my 2003 RX300 (acquired in the December 20002 DTR) is up at the end of March, so I'm looking to replace it with the RX330.

CarMan@Edmunds · January 2006

You're very welcome, soccerpws. Let me know if you have any other questions.

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highfidelity · February 2006

Car_man,

Could you tell me the money factor and residual for this month on a 2006 RX330 AWD w/ Premium Plus (no nav) - 36 months - 12k miles. Do you think it will get better next month as the debut of the RX350 approaches?

A dealer in my area offered me invoice on a RX with a MSRP of $43358, he claimed invoice was $38486 (does that sound right? The payment he quoted me was $584, I hoping this might get better as the RX350 release date nears. What do you think?

Thanks.

highfidelity · February 2006

Oh had a few other questions. I am currently leasing a RX300 and just got some papers about the Encore program and how I am preapproved and can waive the security deposit. Does this program provide any further improvement in the money factor or residual. The website claims lower payments, what exactly does this mean.

karep · February 2006

This is what I am accepting from Ray Catena Lexus in Larchmont NY (MSRP in parentheses):

2006 RX330 w/o Navigation ($37,770)
-Premium Plus Package ($2,960)
-6 disc in-dash CD Auto Changer ($500)
-18" wheels 235/55 M/S tires ($495)
-Heated front seat w/rain sense wipers ($160)
-Transmission cooler, heavy duty alternator/radiator ($160)
-cargo mat ($92)
-wheel locks ($66)
-S&H fee ($695)

MSRP Sticker $43,403.
Capitalized cost $39,000

Am leasing it. Was offered two options:

1. Via Hahn Financial :
-$500/mo. Bank fee $842.70 + FMP $500 + $477 TTR for total of $1,819.70 at time of signing. Vehicle disposition fee of $450.00 at end of lease. 30 months/10K miles/year
2. Via Lexus Financial
-$515/mo. Bank Fee $636 +FMP $515 + TTR $467.50 for total of $1,618.50 at signing. $0 Vehicle disposition fee at EOL36 months/12K miles/year
Trade in 1999 RX 300 in 'good' condition 81,500 miles =$11,000

selected option 2 because I live in CT and Hahn does not do leases there because of the vicarious liability law (Lessor gets sued i case of accident caused by Lessee). Did the math, and for me it comes out at $495/mo.

ONE other note: I bought through the Costco auto program --avoiding the infamous 'Let me talk to my manager' routine

Ray Catena Lexus is straight-foward and is not into the arrogance and stupid mind games found across the state border at a competing dealership.

I'm sure if I invested hours and psychic payments I could have saved a few buck/mo--I'm too old for that now.

My perception is that there are a lot of cars (in the NYC area) and the dealers are getting heavy support from Lexus to clear the decks before the 2007 comes in.

BTW, I could not see much in compelling new features (would have loved an MP3 player and power adjustable pedals but they are not in the 2007) that would make me wait.

Hope this helps.

nrechtman · February 2006

My present lease will be over March 12th and I was planning on getting a 2006 RX-330 FWD with premium plus package Premium Plus Package with Additional Options:

- Two-level heated front seats (includes rain-sensing variable intermittent wipers and headlamp washers)
- In-dash, single-feed, six-disc CD auto-changer
- 18-in alloy wheels (235/55VR18 and full-size spare)
- Towing prep package
- Cargo mat
- Wheel locks

The MSRP with delivery is $42,003.00, so far the best deal in January was around $520 plus tax on a 48 month/15K lease with inceptions of around $1000, but last night the dealer called and told me that Lexus has a new deal which is almost like the "December to Remember deal" and the monthly price dropped to $499, this making me quite suspicious, is there something about to happen to make them want to unload inventory like the 2007's coming out? Any ideas?

If there is a new deal do you know the particulars for South Florida, like special lease rates, money factors?

nrechtman · February 2006

The deal Malenky first posted looks fantastic, I wish I could get that in South Florida, it's the same car with the same equipment I am looking for, in fact his car had AWD and is only 36 months but with 12k miles per year.

"Folks, just got a quote on 2006 RX 330 AWD with Prem. Plus package (w/o Navigation) at $495 a month including 6% tax with LFS for 36 months 12K a year. Out of pocket $495 First Month, $600 Bank Fee, $265 NJ Reg. and Plates, about $1350."

Do you think there is any chance I'll be able to get a deal on a 2006 RX330 FWD with premium plus package with options at a price like his, the best the dealer will do for me is $499 plus tax with about $1300 down as inceptions on a 48 month/15K miles per year.

In my previous post I thought the inceptions were around $1000 but they are actually in the $1300 range.

nrechtman · February 2006

The deal you posted looks terrible,you can get the dealer down to this on a 2006 RX-330 with premium plus package,

36 month /15k is around $520+tax with around $900 down

48 month /15k is around $490 + tax incep. $875 down

CarMan@Edmunds · February 2006

Hello highfidelity. If you were to lease a 2006 Lexus RX 330 AWD (without the entertainment system) through Lexus Financial Services right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00220 and 57%, respectively assuming that you qualify for its top credit tier. This lease program is currently scheduled to run through March 31st and I don't expect Lexus to change it before then. It is difficult to say what its April lease program for this model will be like. There definitely is a chance that Lexus will enhance its money factor then, but its residual value will almost certainly fall eating up most of the difference.

You can look up the exact dealer invoice price for the truck that you are interested in by visiting the following section of this site: Edmunds.com New Vehicle Pricing. Dealer invoice is definitely a good price for a lease on an RX right now.

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CarMan@Edmunds · February 2006

Hey highfidelity. I believe that Lexus does provide a slight money factor reduction for Encore aka loyal customers, but unfortunately I do not know exactly how much that reduction is.

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linodis · February 2006

i think i got a good deal, what do you guys think ?

in Los Angeles...

'06 RX330 FWD
-6 Disc CD in dash
-18' wheels
-heated seats
-Nav w/ bluetooth
-Prem pus package

MSRP $44,193
36 months/15K miles
$900 drive off
$535 month tax included.

highfidelity · February 2006

linodis,

What car dealer?

Thanks.

linodis · February 2006

Glendale. what do you think of the deal i got ?

highfidelity · February 2006

Thanks for all your help Car_man. I finally settled on a lease and wanted to share the details with the forum...

I ended up leasing a 2006 RX330 AWD (Premium Plus, no nav) for 39 months, 12k miles for $533 w/ tax from Putnam Lexus of Redwood City, CA. I also didn't pay anything out of pocket as I had some positive equity on my previous lease (basically sold them the old lease vehicle for a $1200 profit, 2003 RX300).

I think I could have made more selling it on my own privately, but, I wasn't sure it was worth the hassle. I was very satisified with my previous vehicle. The overall payments will end up being less than my previous vehicle. I am pretty happy with the deal.

soccerpws · February 2006

<<If you were to lease a 2006 Lexus RX 330 AWD (without the entertainment system) through Lexus Financial Services right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value should be .00220 and 57%, respectively assuming that you qualify for its top credit tier. This lease program is currently scheduled to run through March 31st and I don't expect Lexus to change it before then.>>

Car_Man,

Made a deal with Lexus of Massapequa (LI, NY) on 2/28 at .00109 and 57% on the 2006 RX330 AWD (Prem +, no nav, MSRP 43403). The dealer said the rate was good through 2/28 to try and get rid of the 330's before the 350's came out.

Did the deal at about invoice + 500 (38537) plus a $600 doc fee.

BTW, thanks again for your help.

nrechtman · February 2006

I'm in South Florida, I think you got a great deal, I'm still trying to work a deal now that I also want the nav, and now that the 2007 RX-350 will be here in 3-4 weeks, hopefully they'll deal more, so far this is the latest figure a local dealer gave me, $527 + tax with 760 down.

Should I forget about the 2007, I know the engine will have more power and a little better mileage, but the 5th generation nav is supposed to be a huge improvement, supposedly a larger screen with much better resolution, and is presently in the new IS if you want to see it.

lawgirl29 · February 2006

First of all many thanks to the posters of this board. Thanks to you I went to the dealership armed to the teeth, and managed to aviod getting duped...but we're only just beginning the deal.

Need some help/input with a 330 AWD w/ Perf Package 36 mo/12k lease.

MSRP 43403
Price 39987
MF .00109 (they started w/ .00250--I said check again)
Residual 57% (again, started w/ 52%--I said check again)
Bank Acq Fee $600
DOC VTR and TITLE FEE $277.75 (started at $483 but they removed the VTR fee after I balked)

Monthly Payment $539.14 including tax
Total due at signing $1416.89(Bank Fee $600 + 277.75 Doc fee + First month $539.14)

Here are my concerns:
1. The price of $39987--he claimed was approx 650 over invoice which is BS since invoice is just over 38000, but the dealership added on some satellite thing for 895--which I will likely never use. This still means invoice should still be around 39000. I really want my payment less than $500, which means that the price needs to be 39000, is this unrealistic with that satellite add-on?

2. The Doc fees of $277.75, isn't that covered in the $600 Bank Acq Fee?

3. The miles--I am pretty sure I will exceed them, and when I asked about 15k, the salesman told me that all leases are based on 12k, and they can do a lease for 15k, but then you are just pre-paying miles, and if you don't use them, you won't get the money back. Anyone have any input on this?

In speaking with the salesman, he did indicate that they need to move the 330's before they could really get the 350's, so I think they are pretty motivated, and they had a great selection of the 330's.

Suggestions???

crashoften · March 2006

I don't know what State you live in, but in MN, the document fee is an unofficial fee, meaning the dealer may not claim the fee is state mandated. This amount is requested for preparing title/licensing paperwork to forward to the state. In Minnesota for example, the amount listed as the DOCUMENT fee is regulated by being capped by law at a maximum of $50.00. That said, the price is not mandatory per the state. It is negotiable, but the cost of doing this paperwork is a true dealer cost. $50.00 in my mind is fair, but $277.00?

Keep in mind, in some states, fees that are not OFFICIAL STATE FEES or the DOCUMENT FEE, aren't regulated at all. Again in Minnesota, if the dealer were to throw in a "The Boss's Kids Need New Braces" fee, they are legally allowed to do it, and you are within your rights to request it removed, (or walk away) just as you are the Document Fee.

(Check your state dealer laws and requirements to find out what Dealers are allowed to charge for document fee. In your state, in may be uncapped. I doubt its EVER mandatory, but some minimal reimbursement is fair.)

soccerpws · March 2006

<<1. The price of $39987--he claimed was approx 650 over invoice which is BS since invoice is just over 38000, but the dealership added on some satellite thing for 895--which I will likely never use. This still means invoice should still be around 39000. I really want my payment less than $500, which means that the price needs to be 39000, is this unrealistic with that satellite add-on?>>

Well, my deal came in at $38,500 without the satellite thing for exactly the same car. Edmunds had the invoice around $38,100. They could be selling for under invoice, but I wouldn't expect them to.

I got the deal I wanted, but then I had this forum to help, and there are 4 Lexus dealers within 15 miles of me, although 2 are owned by the same people.

The satellite hookup is an add-on, that is done on request, so there really isn't an "invoice" on it. The exact same unit (Harmon Kardon) can be installed by an after market shop for less than half that, so you can imagine what the wholesale price is including labor.

<<3. The miles--I am pretty sure I will exceed them, and when I asked about 15k, the salesman told me that all leases are based on 12k, and they can do a lease for 15k, but then you are just pre-paying miles, and if you don't use them, you won't get the money back. Anyone have any input on this?>>

If you car is worth more than the lease residual, you can sell it back to them and pocket the difference, but you have to have a dealer thats willing to work with you, and you usually have to be leasing another car from him. My dealer told me in December that my lease (which is up the end of March) was worth (after taking unpaid payments into account) an additional $1200 (because of low milage and the excellent condition of the car). He basically told me I'd be better off waiting for March because the discount on the 330's would outweigh the money back from the old lease (which I probably could have negotiated a few $hundred out of them).

linus2 · March 2006

hi carman...

gotta question. I am able to get a 2006 rx 330 with:
Prem plus package
dvd/nav
heated seats/rain sense wipers
18'' alloy
6 cd

at invoice (per the dealer): $40466. MSRP $45,500

At such a price (given the clearance of this vehilcles for the incoming rx350)..am I better off buying or leasing since I am able to purchase at invoice, supposedly?

Thanks in advance,
linus

huskr · March 2006

I know lexus is coming out with the new 2007 and clearancing out the 2006. I am wondering how two states can be so far apart on their specials. Bell Lexus in Scottsdale is offering a no money down $379 lease and Lincoln Nebraska is offering a lease of about $440 with $4,500 down. Do you think it is worth our time to try to get the same lease in Nebraska or are they going to laugh at the price. We have the add from the paper to show to the dealer.

tomster556 · March 2006

Does anyone know what the money factors and residuals for the 2006 RX330 equipped like this MSRP Is this the same this month?

MSRP 43403
Invoice Price 39987
MF .00109 (they started w/ .00250--I said check again)
Residual 57%

Thanks Tom

CarMan@Edmunds · March 2006

You're very welcome, highfidelity. Thank you for taking the time to stop back and let us all know how everything turned out. Enjoy your new truck!

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CarMan@Edmunds · March 2006

You're very welcome, soccerpws. Thanks for taking the time to let us all know how everything turned out. Enjoy your new truck.

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CarMan@Edmunds · March 2006

Hi linus2. Dealer invoice is a very good price for this truck. Its lease program is not bad, but not good enough for me to say that is definitely the avenue that you should go. There's nothing wrong with leasing this model right now, but there's no need to lease it if you normally wouldn't.

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[Deleted User] · March 2006

Hi Car Man,

?? for you....

With the '07 RX 350's hitting the lot now, what type of Cap Cost # should I shoot for on an '06 330??

I'm looking for a car w/ the Prem + pkg:

HID light
6-disc
rain wipers
etc..

thanks for the knowledge...:)

djflorida · March 2006

I just drove home a 2006 RX330 and found the info here very valuable to ensure I was getting a square deal...

A dealer here in the Tampa area is running a $3854 off MSRP ad, sign and drive for $499/mo.+ tax - 36 months/12k

My Details: 36 months at 15k/yr.
MSRP - $40648
Cost - $37836
Residual - $21949
Monthly payment - $529.17 + tax, for a total = $566.21/mo

The kicker was a true zero out of pocket, I mean zero. No initiation fee, no first month payment, no title fees, no dealer fees. They were all wrapped into the lease numbers above. To top it off, I got a check cut for the full value of my trade, which I owned.

Great forum!

ranajo · March 2006

Leased a new 2006 RX330 AWD w/ Navigation system yesterday for 36 months/12K annually for $531 per month. Odometer reading 25 miles.

Money Factor: .1009
Residual: 57%

Options Included:

- Navigation System w/ Rear View Camera
- 6-Disc In-Dash CD Changer
- 18" Alloy Wheels
- Heated Seats w/Rain Sensing Wipers
- Premium Package Plus
- Towing Package
- Lexus Personalized Settings
- Preferred Accessory Package

MSRP: $45,753

Capitalized Cost: $40,466
plus VA tax, tags, acquistion fee $600 and $100 processing fee

Drive out price was first month lease payment of $531 - all other costs were included in the lease payments.

There are very few new 2006 Lexus 330 AWD in the DC metro area with the navi system so I was pleased with the deal that I got. All of the negotiations on pricing etc were done by email with the Internet sales manager. After agreement was reached, we went to the dealership and signed the papers in a smooth, flawless transaction.

Posted this in the Prices Paid forum as well.

bama60 · March 2006

Well, I joined the Lexus family as well (actually, it is my wife's vehicle). MSRP $40648. Leased for 36 months at 12K miles per year for $497 per month (tax included). Only paid first month's payment and title fee ($16.50) at signing.

newyork7797 · March 2006

I have a friend who works at a dealership in jersey, so I'm guessing I'm getting a good deal on this.. but would appreciate any feedback

New 2006 RX330 with premium package no navigation 15K miles/yr
$459.00 month 36 months... $1500 down including first month payment ... this is the part I question... $4200 to pay down points which I get back at the end of the lease ..

theoxcorp · March 2006

This forum armed me with the info necessary to make the following deal. $42003 MSRP. 36 month lease with 15K miles a year. $5006 out of pocket of which $4270.00 is a refundable security deposit(also known as Multiple Security Deposits..MSDs). Allowing them to hold my $4270 greatly reduced the money factor so my monthly payment is $427 plus tax or $454 a month. The additional $736 went toward the first months payment, tax and tag. The dealer wined about how they were losing money(yeah right), but the F&I man said since the 07 is out, they'll do whatever to get rid of the 06s. Palm Beach gave me a better deal than anyone else in South Florida.

plym_rock · March 2006

I made a similar deal at Ray Catena for an 06 RX330 with premium plus, 6 cd, heated seats and rain sensing wipers,etc.

$43K and change MSRP
$39,000 selling price
$4200 msd
$1500 for fees and first months payment
55% residual
15K miles/36 months
$470 per month

What was your selling price to get $459? I am supposed to pick it up this Friday.

newyork7797 · March 2006

same selling price 39k... but I live in NJ .. so maybe some of the 10.00 was due to taxe differences?

theoxcorp · March 2006

My MSRP was $42003 and the selling price was $36836. The monthly is 427 plus tax equaling $454 a month.

turquoise_e1 · March 2006

Theoxcorp,

Is that a '07 RX350 or '06 RX330? What's your residual and MF? Appreciate your sharing the information. Thx.

theoxcorp · March 2006

My deal was on an 06 RX330, I believe the residual was 57% and I don't remember what the money factor was. For me what mattered most was the payments. Based on this site and the payments others incurred relative to MSRP, I felt the deal I struck was strong. The longer those remaining 330s sit on the lots the better the deals ought to get. Since I'm giving the car back in 36 months, I didn't feel the added expense(about $100 a month) of the newer 350 was worth it. Relative to just about any other make out there with a comparable MSRP, this car is a fantastic deal.
Hope somebody uses this info and gets a better deal than me.

is95aus · March 2006

Has anyone taken advantage of Lexus national program? Its $429/mo. for 36 months after $1999 down plus tax, tags and acq fee. Its for the RX330 AWD (MSRP $43403) which includes the Premium Plus Package w/ additional options...Historically is this a good deal? I'm thinking of pulling the trigger tomorrow...

CarMan@Edmunds · April 2006

Hi sfla_car_guy. I am not personally all that familiar with the market for this truck right now, but you are right given the fact that dealers are going to need to make room for the new 350 (I've already seen one on the road) I suspect that they are going to be fairly anxious to unload their remaining 330s. When negotiating this truck's selling price, keep in mind that Lexus introduced $1,000 dealer cash on it this month. This money should enable you to get one for below invoice. Make sure to stop by the following discussion for additional feedback on how much you should pay: "Lexus RX 330: Prices Paid & Buying Experience".

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CarMan@Edmunds · April 2006

Congratulations on your new truck, djflorida. Thanks for taking the time to share the details of your deal with everyone. Enjoy!

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CarMan@Edmunds · April 2006

Wow, two straight detailed real-world examples of leases of this truck. Keep them coming everyone. Thanks ranajo. Enjoy your new ride :shades: .

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CarMan@Edmunds · April 2006

Greetings newyork7797. You never mentioned the selling price or MSRP of the truck that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this truck's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what these numbers are.

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nwt · April 2006

A coworker of mine prepaid the scheduled maintenace for his Lexus (it was a purchase, not a lease). He said by doing that he got a 30% discount on the maintenance. Also, the dealer valets his Lexus (meaning they come to his house drop off a loaner and drive his to the dealer for service then return his to his house). They valet for him because he prepaid the maintenance. Can you do this with a lease? Good idea or bad idea?

nwt · April 2006

I've heard you should not tell them you're going to lease at first. Negotiate price down on the car and then go for lease negotation. Is this still the approach? I plan to do it over the internet so not sure if that is necessary? Thanks.

worcester1 · May 2006

Hi car_man,

I am considering leasing a 2006 RX330 or 2007 RX350. Can you tell me what the current money factors and residuals are for both of these vehicles for 36 and 48 months at 12,000 miles per year?

Thanks!

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

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