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

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Comments

  • JBO12JBO12 Member Posts: 8
    dricool1 - my salesman at Rallye Lexus in Glen Cove was Karl Hernandez and thus far i am pleased with the level of service (though there were some minor things wrong with the car which need to be addressed prior to my accepting delivery). as i wrote, lexus of manhattan and prestige lexus are very competitive in pricing the premium plus + nav models which msrp for $46,241 - those have been selling pretty consistently at 38.0k to 38.5k at those locations. the pebble beach is a ltd edition with a slightly higher msrp, therefore i had to pay a higher price for the vehicle. there are really only 2 feature sets available in the northeast - premium plus with or without the navigation unit. the navigation adds about 2900 to msrp.
  • KrovopiytzaKrovopiytza Member Posts: 16
    Hi,

    I just got quoted for RX350 AWD PREM with 36/10k in MA. Total out pocket $1,365.
    379 per month incl 5% taxes. is this a good deal?

    Thanks.
  • tjimtjim Member Posts: 3
    closed Nov 29 on RX350 premium plus (no nav) MSRP 42766, base cap cost 36500, MF .00095, 2625 initial pmt, monthly 446.33 plus tax for 36 month, 12k miles. The 2625 is a security deposit (refundable at lease end) which reduced the money factor. Dealer is Lexus Marin in N. Cal - very professional and no BS

    Hope this helps those of you still shopping.
  • cityboy2cityboy2 Member Posts: 27
    It would be easier, if you tell us at least MSRP. But it looks like a rock bottom price. Mind to tell the dealership name/location?
  • ufmackufmack Member Posts: 3
    Received initial offer for leasing a 2009 RX350 FWD base model with Premium Package and a few small extras and would appreciate help evaluating the deal.

    36 months/15K miles per year
    MSRP: $40,776
    Selling Price: $36,563
    MF: .00095
    Residual: 52%
    Florida Sales Tax (estimate): + $2,285.27
    Tag/Registration Fees (estimate): + $330.00
    Tire/Battery/MVWEA: + $6.50
    Title Fee: + $25.00
    Dealer Service Fee: + $599.95

    With $2,500 due at signing, monthly payment = $511
    With $5,000 due at signing, monthly payment = $437

    Can anyone suggest ways to work on this deal to better it?

    Thank you.
  • cityboy2cityboy2 Member Posts: 27
    My opinion. Bad deal! You could do much better nowadays.
    1. Selling price. Invoice price for this car is about $36,200. Never buy/lease a car above invoice price. Right now (December) dealers are also chopping about $2,000 off from invoice. So your aim price for negotiation should be around $34,000 for this car configuration.
    2. Do not pay anything up-front except:
    Tag/Registration Fees
    Tire/Battery/MVWEA
    Title Fee
    Dealer Service Fee. BWT $599.95 is well above average ($250)
    and 1st month payment.
    Your average out of pocket should be ~$1500.
    3. Include all your tax in the monthly payment.
    4.You shall not negotiate MF and Residual.
    5. Considering all of the above your monthly payment before tax should be ~$420.
    with tax (8%) included $453/month.
    In reality some dealers can do even better. It would be very surprising if car market in Fl is as hot as last summer. :shades:
  • ufmackufmack Member Posts: 3
    Thank you so much. I agree on the price being too high. Also, do you know whether the $2,500 factory to dealer rebate is something that I can bargain with on this deal? I plugged these numbers into a lease calculator myself and was not able to duplicate the payments being offered - it seemed as though there were either hidden fees or double taxes somewhere. I'll try to do better. Thanks again.
  • JBO12JBO12 Member Posts: 8
    Car man and others - does anyone know if Lexus Financial will alter their money factors given the big cut in interest rates yesterday? thx.
  • fanatfanat Member Posts: 8
    RX 350 lease 36 months/10K. Prem+Navigation!

    After talking to different dealers in NYC area for couple of days the deals I'm getting are:

    About 2700 total due at signing (taxes + 1st months payment, bank fee, licence and registration).

    450 per month (no taxes, taxes paid upfront and included in the 2700)

    Now, one dealer told me they could lower the monthly payment by 20 dollars which brings me to 430!

    Is it possible to go even lower? How much lower is realistic?
  • cityboy2cityboy2 Member Posts: 27
    Hard to answer w/o knowing your MSRP. If it's within $45,500, then $430 before tax would be your ballpark number.
  • fanatfanat Member Posts: 8
    I think MSRP is around that number.

    Do you think squeezing out 420 per month is reasonable?
  • njmdxnjmdx Member Posts: 17
    how's this for a great quote? NJ area. i'm going to jump on this today:

    - 2009 RX350 AWD
    - Premium pkg
    - Navigation
    - heated seats/rain sensor
    - towing hitch
    - trunk mat
    - all weather mats
    - 36 mo/12k miles
    - $475/mo including tax
    - $1000 out the door, including first month payment
  • fanatfanat Member Posts: 8
    That's a great quote! Which dealership was that?

    When I told my dealer on the phone that I want 420 per months it sounded like he had a stroke :)
  • dealmaker2008dealmaker2008 Member Posts: 47
    $430 per month deal for a 09 RX350 with Nav+Premium is very good deal esp if you can try to get 12K will be even better.
  • LexusGirl2009LexusGirl2009 Member Posts: 4
    I am actually about to start the same process of searching for the best deal to lease a 2009 Lexus RX350 and this post have educated me. However, I noticed you mentioned the dealer that produced the best quote was in NJ; can you let me know the name of that dealer and exact location in NJ? I reside on the outskirts of Philadelphia and, like you, are shopping for the best deal. I plan to purchase my car closer to December 30th, since the salesfolks will be more hungry to off load the cars to meet thier monthly quota. Also, I would really like to do most of my deal making online before I step foot inside the showroom. Do you (or anyone esle out there) have any advice for me?

    FYI - I currently own a 2002 Lexus ES300 (I brought it) and will be trading it in when I make my lease deal :) .
  • dealmaker2008dealmaker2008 Member Posts: 47
    Lexus Girl : Actually I have been looking aggressively on a Lexus 09 R350 and Infiniti 09 FX35 with the help of the forum. Though, slightly different body stypes they are top rated SUVs in their class. The 35 is definitely more sporty looking whereas the 350 more reserve. I notice within the last 3 months in Los Angeles, the discount off a fully loaded 350 ie with Nav, PP, ipod etc., been increasing to 7-9K off MSRP whereas the 35 is discounting 4-7K off MSRP. The base MSRP of the 35 general starts3--4 higher than the 350. All said, I beleive for a fully loaded 09 350, the sel price is about 41-42K(without a 4K loyalty rebate included) and 36-38K for a comparable equipped 350.This is my observation. The Infiniti rebate does make a differece.
    All said, it is a matter of personal preferences and whether you are willing to shell out an extra 4-5K for a 350 and more if you are not. I am not an Infiniti owner, so for now, I am still focusing on the RX350 for now.
    Inventory in California is still adequate and dealers in general are willing to deal.
  • LexusGirl2009LexusGirl2009 Member Posts: 4
    Thanks for the response Deal Maker...

    I am going to submit a quote online to start the process. You know once you put your name out there, they are all over you like Paronas and thats when my barging power will be initiated.

    In addtion, I am also concerned about being shafted on the trade. Any advice on that? I have never leased and always sold my cars privately, so I am completely green to the trade process as well as leasing, although i have heard horror stories about trading.

    Thanks again...LG
  • sunshine30sunshine30 Member Posts: 7
    Hi, Regarding the trade- I tried to trade my vehicle in and all dealerships offered me way less than the KBB and my car has been taken to every service appt. and is in very nice condition... Good Luck to you. I am selling mine myself. Even on Ebay, Ive been seeing way more than what I was offered by these folks.
  • ocotillo27ocotillo27 Member Posts: 3
    Present offer (in Phx). What say ye? This is just for the non-nav:

    - MSRP: $40,551
    - Present price: $33,771
    - Residual: 52%
    - Mileage: 15K/36 months
    - MF: .00095 (.0015 was the "standard Lexus offer" and i had to quote the deals on this page to lower it)
    - Monthly payment: $404 (before tax); $434 w/ tax
    - Up front fees. Dealer is presently asking for -- Doc fee ($489); Acquisition fee ($700); Registration ($663); first month's payment ($434) -- Total ~$2,300

    I think I can still negotiate on price, but was curious if others have had success waiving or lowering any of the up front fees. Any input is appreciated.
  • fanatfanat Member Posts: 8
    The only fees that are real is the 1st month payment, bank fee of $700, registration and plates (around or less then 200) and that's it!

    So, the document fee and registration fee that you posted are crazy!
  • cityboy2cityboy2 Member Posts: 27
    fanat is right, the only thing he probably forget to mention is your Acquisition fee of $700. Crazy too. You should not pay a penny for this. As for the price, you might be able to push a bit lower, but not by too much.
  • dealmaker2008dealmaker2008 Member Posts: 47
    Seems like there are lots of bogus fees for the uneducated customers. Buyers be aware.
  • briegelbriegel Member Posts: 139
    The acquisition fee is a LFS charge that is valid...I don't think it can be eliminated.
  • attitudediverattitudediver Member Posts: 2
    Present offer (in NJ). This is just for the non-nav:

    - MSRP: $43,591
    - Miles: 12K/36 months
    - Monthly payment: $419 w/ tax
    - Total out of pocket: $1,500

    Comes with the following:
    Premium Plus Package
    Liquid Graphite Finish 18" 7 Spoke Wheels with all season tires
    Multi Stage Heated Front Seats with Rain Sensing wipers and head lamp washers
    Cargo Mat
    Wheel Locks
    Any Color I want - Exterior and Interior (they have a lot of excess inventory I guess)

    I plan to pick the car up on Monday. Lets hope nothing changes. I will send an update.
  • Cali123Cali123 Member Posts: 5
    Can you tell me what dealer you got your quote from in NJ. I am in NJ and plan on buying an RX350 tomorrow and your deal is about $50 cheaper.

    I would appreciate it.

    Thanks
  • njmdxnjmdx Member Posts: 17
    that's a great deal, attitudediver...

    is that $419 including tax or plus tax?
    is the dealer in Ramsey NJ? i hear they are having some great deals!
  • leighmeleighme Member Posts: 1
    Does this car have NAV?
  • rain_manrain_man Member Posts: 9
    I have collected a number of offers on RX350 in the Bay Area. About 8k below MSRP is the typical offer I get. So I am sure that 9k under MSRP is possible. Lexus in Oakland, Fremont and Pleasanton appear to be the most aggressive in their pricing.
  • dealmaker2008dealmaker2008 Member Posts: 47
    Lexus Girl, think you should sell it on the side. Think you can get a better deal on your own but might take some time. Good luck.
  • dealmaker2008dealmaker2008 Member Posts: 47
    Rain man: 9K off MSRP is sell price for finance? What is your experience for sell price for lease?
  • dealmaker2008dealmaker2008 Member Posts: 47
    I need somebody to critque these 2 quotes I received:
    Quote 1 09 RX 350 FWD Nav, Luxury Edition, (includes Premium), Mark Livingston System, Rear Entertainiment, very loaded vehicles but with 5K miles on it. Claimed to be a factory demo. MSRP $48,476;
    $3000 TDO, 12K/36 Resid $24,804 and $489 incl tax per month;
    Quote 1 09 RX 350 FWD Nav, Luxury Edition, (includes Premium) MSRP $43,256 Residue $23,679 RSO $3,000; 12K/36 $482/month;

    Offered Quote 1 for $482/month and $23,679 Residual but not taker by the dealer. Offered OK on $482 but not on residual but willing to increase mileage.

    What do you think about these deals ? What do you think I should offer if I were to finance? Would 8-9K off MSRP appropiate? confuse:
  • danmiller3danmiller3 Member Posts: 2
    Have the following lease offer. Would like to sanity check with this group.

    RX 350
    AWD
    No Navigation
    MSRP: 42,171
    Miles per year: 15,000
    36 months
    $1,489 down (no cash, just fees and first payment)

    $439 per month, plus tax (no cash down)

    It seems like an excellent deal based on the national deals I've seen.

    Let me know thoughts.
  • Cali123Cali123 Member Posts: 5
    First, does anyone know the current residual and money factor. I am seeing 54% on 12,000 miles and .00095 or 0.00085 which is correct? Also, what is the average discount in the NorthEast NJ.

    I am getting around $6200 off in NJ is that good or bad on an RX350 AWD No Nav?

    Thanks
  • dealmaker2008dealmaker2008 Member Posts: 47
    Dan Miller, the deal sounds right comparing to the national December to Remember deal $429, 12K/36 month. Esp. withAWD and $1489 down, which means you have no capital reduction in TDO. Consider putting a refunable security deposit say 1K to get another $10/down per monthly. Thats means you save $360 per month by putting in $1000 (you get it back at end of lease) which is good return. Can you get information about this dealer?
  • spingrinderspingrinder Member Posts: 11
    Asking for comment on the following lease offer:

    09 RX 400h - FWD
    36 mo, 12k/yr lease,
    Navi (No Levinson) Premium package, leather/wood trim,
    $895 drive off, $520 mo., + Tax/fees
    $24400 residual.

    Thank you.
  • Cali123Cali123 Member Posts: 5
    Please comment on this lease offer for NJ

    36 months
    12,000 miles
    No Nav
    list $42770
    $500 a month tax included
    No money out of pocket sign and drive

    Let me know if this is a good deal
  • rain_manrain_man Member Posts: 9
    The discount does not appear to depend on whether you purchase and lease. Is that your experience?
  • dealmaker2008dealmaker2008 Member Posts: 47
    Rainman;
    My experience is that discount does matter. You get more for lease or cash. Pulled the plug on a 09 FWD RX 350 with Keyes Lexus in Van Nuys. Over-whelmed with their service. In and out the door in 3 hours or less.
    The deal
    12K/36 months, TDO $3,000; Monthly$450.89 included tax;
    Vehicle MSRP $46,500; marked up by dealer to about $48,500 for dealer preparation.
    Smokey Granite (difficult to find with Mark Livinston) Chrome wheel, Mark Livinston, PP, the work; even get first 2 years service free,
    Happy with the deal as the sales people are extremely courteous for the duration and not try to pull a penny more from me which is important.
    Hands up to Keyes
  • LexusGirl2009LexusGirl2009 Member Posts: 4
    Hello All...

    I am anticipating going to the Cherry Hill, NJ dealer on Tuesday or Wednesday. Has anyone had any experience at this dealer?

    Also, I am trading in my used ES300 2002 (I know I am going to get slaughtered on the trade), but I do not want to haggle with outsiders at this point. Plus, I do not want to miss the great opp for the D2R speacials at the end of the year.

    Can anyone tell me exactly what is feasible to put on the table at the NJ dealer? I know depending on the area will dictate the deals.

    Thanks in advance folks!
  • dealmaker2008dealmaker2008 Member Posts: 47
    Lexus Girl: There is a haggle factor that is sometimes more important than what you paid as the process can be painful. Go to a reliable dealership is important. They sold us the display vehicle with the red bow on it in the show room and waxed it for us. Try to avoid buying after options after lease is done such as life time tire replacement, low jacks and so forth. They add more to your payment and do not add any percevied values. This is first time we deal with a Lexus dealer and both myself and wife are very happy. Good luck and happy holidays.
  • scoutandattyscoutandatty Member Posts: 23
    I've compared Pleasanton, Oakland, Putnam (Redwood City), and Stevens Creek (San Jose) for 09 RX 350 Nav, Premium, 36 months/15K lease.

    Putnam - Sleazy. Bait and switch. Told me they had the RX I want - and would be competitive with quote from other dealer. Although confirmed in email and over phone the terms and that I do not want to waste any time - upon arrival, they immediately tried to upsell to Levinson and Pebble Beach b/c didn't have my options. Sales team sits you in their office and goes back and forth to their manager "to see what I can do".... What a crock. Putnam is the Ugly Stepchild of Lexus dealers in the Bay Area. Its run like a subprime brokerage.

    Suggestions:
    1. do not visit dealer without reading exact terms required to beat to earn your business;

    2. ask if they have the model, colors, options at the dealer;

    3. When ready to do deal - you want transaction to move quickly - tell salesman that if there is any waivering from agreed terms, you are leaving - AND BE WILLING TO LEAVE .

    4. When enter dealer - and if any waivering from terms or not directly answering your question - LEAVE!!!

    Stevens Creek - Brian Crocker was great. Straightforward. Did a great job making process smooth and not playing games.

    Here's what we got:
    2009 RX 350
    36 months / 15K miles
    .00095 MF - standard
    .52% Residual - standard at 15K
    $970 - 1st month + fees
    $550/month (taxes included)

    Some suggestions:

    1. Start with Overstock.com - Pleasanton and San Jose are members and will contact you after you complete the form (drops invoice by $2500 or so). Gave me a better idea of how to break down the pricing from base to each option.

    2. Determine which dealer(s) have the most inventory. I think this is on Edmonds.com.

    3. Take best overstock price and drop by at least another $2,000. (This should be @ $9K off MSRP)

    4. Call each dealer and tell them what you've been quoted (on Overstock and this forum). If they can beat, you will do the deal today.

    5. Throughout - it really helps if you realize that Lexus is really desperate. Their sales are down 35% from last year, the economy stinks, they have a 2010 version coming in February. They have month-end and year-end quotas - and are absolutely willing to take losses of $1,500 (after contributing the $2,500 in Lexus marketing support) to lower the price of the RX.

    LAST THOUGHT - it may make a lot of sense for those shopping now to get together and contact dealers as a group. The dealers will be even more aggressive if they're moving more than 1 at a time.
  • rain_manrain_man Member Posts: 9
    Scoutandatty. Great summary for us in the Bay area!!!

    I like the idea of buying as a group, but think that coordination, such as timing, would be difficult.

    What was your experience with Pleasanton? It is a bit of a drive out there, and I was wondering if it is worth the trouble.

    Let me add to those who are looking at the hybrid: The discounts offered on RX400h are at least as good as those on RX350. I.e. you should also be able to get $9k off an 400h.
  • scoutandattyscoutandatty Member Posts: 23
    I never drove up to Pleasanton. I did speak to Chris Anderson - their contact from the overstock.com price quote. He wasn't as aggressive as Stevens Creek and Eric at Oakland - so I'm guessing that his inventory isn't as large.

    Almost all of the dealers whined that they weren't making money on the deal at the price I offered - but I later realized that they probably have more to lose if they don't clear their inventory vs. "losing" $1,500 - $2,000 on the deal.

    Does anyone have any thoughts on how aggressive these dealers are likely to become after Christmas?

    Do they have more to lose if they don't clear the lots before the end of the year?
  • spingrinderspingrinder Member Posts: 11
    Scout - I'm trying to figure this out and I'm not trying to say your deal is bad. Can you break down your numbers a little more? What is the agreed on price out the door?

    I get the following on a RX350 w/Navi, No Levinson-
    MSRP $43850
    Assume $6k off $36850
    Resid. 52% $24287
    MF .00095
    Term 36 mo.
    Tax (7.5% for me)

    = $437.58 per mo. incl. taxes.

    Also, I'm currently working on a deal for a 400h with $895 drive off at $520 mo. for a 36 mo., 12k per year (which works out cheaper at that rate even if I drove the extra 9000 miles at 0.25 per mile.)( I Do not have the actual drive off price for that in writing yet though.)
  • rain_manrain_man Member Posts: 9
    I cannot quite get your numbers to add up. 52% of $43850 is only $22.802. :confuse:
  • scoutandattyscoutandatty Member Posts: 23
    Let's see:

    2009 RX 350
    Navigation
    Premium
    36 months
    15,000 miles
    .00095 MF
    52% residual of $45,426 (MSRP)

    $39,250
    $516/month + 8.25% = $556 (ish)
    $954 at closing (1st month + fees)
  • holla322holla322 Member Posts: 25
    i am looking at 2009 rx 350 awd with Navi. I live in the ny area and want to know what is good round abt lease price that people have been getting/expecting from the dealers. also do dealers still have the 2008 rx350 model? or are they very hard to find now? i do not mind travelling to any dealer within ny, nj, and ct. Any information will be greatly appreciated. thank you in advance.
  • scoutandattyscoutandatty Member Posts: 23
    My bad - I didn't include the fact that the dealer paid $2600 to end my existing lease - so the actual price is $36,650.
  • spingrinderspingrinder Member Posts: 11
    Wow - that's good negotiating to get them to pick that up. Usually they just try to hide it by rolling it into the payments.
  • larryj42larryj42 Member Posts: 6
    I just leased an '09 RX 350 in Dallas on 12/20/08. It has Nav & the Premium Plus package. The lease was for 36 month/15k miles per year.
    MSRP-$44,841.
    Selling price-$38,500
    Residual-52%
    MF-.0012-I could not get the .0095 even though my FICO score is 793.
    They paid off my current lease-2 payments-total $1056.
    Upfront charges-$670.93 (first payment & documentation)
    Payment-$526.93
    The deal was all over the phone. Initially their quote was $39,500. I might could have got better, but I am happy with it.
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