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2013 and earlier Lexus RX 350 / RX 450h Lease Questions
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These are numbers I was quoted in North Carolina for RX350awd with option C for 36 months 15K mi/yr.
MSRP $47304
Selling price $44490
Fee $549
Taxes $1334.70 (tax at 3%)
Net Selling price $46373.70
MF 0.00195
Residual 56%
Monthly payment: $695.81 (nothing down except first month)
Please help me....this is going to be my first lease.
Thank you all in advance.
It looks like I should be able to get at least 21,500 for my RX which currently has
56,000 miles, but otherwise in great shape. The car still drives like brand new, quite remarkable for a four-year-old vehicle.
So my buyout, if I were to buy the car by the lease maturity date of 8/17/10, is
18,500.
I was looking at the 2010 RX's on the Lexus dealership Sunday morning and found
one that has the comfort package and no navigation package. Was pleasantly surprised that Lexus seems to now be offering the comfort package(Which has my beloved rainsensing wipers) without having to purchase the nav. Price is 45,000 even. The only problem was it's the exact same color or my '07(Flint Mica, now known as Smoky Granite Mica). I don't like to do the same color choices back to back when purchasing a new vehicle. This is probably where my hangup is going to be is finding the color combo for the exterior and interior that I like.
Hopefully, if I decide to go this route and get the 2010(I'm still considering buying my '07, still love it!) maybe the lease equity could be used for the drive-off costs!
I'm also still eyeing the 2010 Cadillac SRX(Performance model). I love the styling on this vehicle, but I'm not sure about GM's leasing incentives. :confuse:
Where did you hear about cash incentives on the RX? I am not aware of any right now.
Car_man
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I am not aware of any cash incentives on this model at this time.
Car_man
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Possibly the most troubling aspect of the deal that you described is the money factor that the dealer quoted you. Lexus Financial Services' current buy rate lease money factor for a 36 month lease of a 2010 RX 350 is only .00175 for consumers who qualify for its top credit tier. Unless your credit is not in great shape, the dealer is charging you way too high a money factor. Make sure to insist that they use the buy rate to work up your payment.
Car_man
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Lexus Financial Services' July buy rate lease money factor and residual value for a 36 month lease of a 2010 RX 350 AWD without the entertainment system with 15,000 miles per year are .00175 and 56%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.
Car_man
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I believe that the numbers for an otherwise identical 42 month lease are .00175 and 52%.
Car_man
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Lexus Financial Services' current buy rate lease money factor and residual value for 36 month lease of a 2010 RX 350 AWD with the entertainment system and 15,000 miles per year are .00175 and 54%, respectively for consumers who qualify for its top credit tier.
Car_man
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Since you are new to leasing, you definitely should check out the following informative articles on the subject that are available here at Edmunds.com: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.
In short, the easiest way to get a good deal on a leased vehicle is to shop around for the lowest possible selling price and then have the dealer that you decide to go with calculate your vehicle's monthly payment using its buy rate lease money factor.
I don't know the exact dealer invoice price of the specific unit that you are interested in, but if I had to make an educated guess I'd say that the selling price that you were quoted is probably around $1,500 over invoice. That's not terrible, but if you are in an area that has at least some competition I wouldn't be surprised if you were able to beat this deal by a couple hundred dollars by shopping around.
Car_man
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Lexus Financial Services' July buy rate lease money factor and residual value for a 36 month lease of a 2010 RX 350 FWD without the entertainment system with 10,000 miles per year are .00175 and 59%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.
Car_man
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$782 down (fees & 1st month payment)
$640.98 per month
based on Tier 1+ approval, money factor 0.0202 (looks high?), residual value 58%.
I need your help in deciding if I should get this. Thanks!!
Has anyone gotten a lease deal on a CPO RX 350? any thoughts on the lease payment? I'm thinking 36 months, 33K cap cost, no down only usual inceptions/fees, 12k miles per year. I'm in north NJ.
Thanks!
jaybee85
I'm still in the market for a Lexus RX350. Came close in July but dealer wants me to put money down on top of title, tax,$700 acquisition fee and 1st month .
Friend in NY leased a Acura TL. He tells me that he only pays tax on the value of the car for the length of the lease.
My Lexus dealer in Maryland says you have to pay tax on the full value of the car at the time of lease.
Is the rule different by state? Am I not understanding the tax issue?
Thanks,
Chintan
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I think the situation you describe above is a somewhat uncommon one and it is not surprising to me that they make you purchase the car first. I know for a fact that a Lexus dealership can purchase the vehicle directly. 2 of the 3 vehicles that I have turned in I have actually been sold to the dealership for positive equity or for the same price as my payoff (2 different dealerships).
The dealership agreed to sell the car to my brother and his wife for the 19,500 plus dealership fees and taxes. They ended up financing with LFS since they were offering a competitive finance rate. They also ended up purchasing an extended warranty for 2 years or 100,000 miles. Needless to say, I think they got a pretty good deal on my old car. The car was well cared for, even though it had 56,000 miles on it. The sister-in-law is enjoying the vehicle!
Terms: 12k/year, 36 mo lease
Here's the deal:
$0 down
Drive Off Fee: $1400
Monthly fee (not including tax): $613.50
Residual: $31311
Questions:
1. Is AWD as good or better than FWD, accepting the 1 mile/gal penalty I've read about?
2. Is this a good deal?
3. Should we consider a 4 year lease with a drive off of $1370 and Monthly fee (not including tax) of $585?
Thanks!
I put 1278.46 down which included my first months payment. My mothly payment, tax and all, is 590.71.
48 months with 15,000/miles per year.
Good Deal/Bad Deal/Ok Deal? Just wondering. THANKS :-)
Maryland Taxes
or
Maryland Motor Vehicle Administration
Car_man
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Just wondering if you think this is a fair deal:
(I live in NY)
2010 RX 350 AWD ---no additional options
3700 total down includes taxes, title, fee's etc.
499 per mo
42 month lease
42,000 mile allowance
Thanks in advance --Matt
My question is, is there a lexus program for current lexus lessees that is underlying this? I live in Pittsburgh PA.
Also what is the residual/ money factor. a 2010 rx350 AWD. 10k yr/ 36 months, and also 12k year/ 36 months
Want to put down title, tax and 1st month. Tax in MD is 6% of purchase price.
Buddy in NY just leased a car and is only paying tax on the length of the lease. Does each state have different rules as far as how much tax you must pay on a leased car?
Any help is appreciated
What is the MF and residual for RX 350 FWD and AWD, for 2-years, 10k miles?
Thanks in advance.
$1,600 out of pocket(bank fee, dmv fees, and first months payment) and around the $575 mark give or take a few dollars. How do these numbers sound? Thanks.
Hope this helps!
All the deals I have seen listed in here are for much lower than what I am being quoted. So far they're coming in at around $625 (inc tax) for models with no nav & $1600 out of pocket.
I believe the acquisition fee is standard at $700. It would be more helpful to know your MSRP, what they are offering it at, and the monthly fee without tax. My instinct is that you may be able to do a little better, but that it's not a bad deal. I am assuming that this is a 36 month lease at 12k/year miles. If it is for a longer time or the mileage is lower, you can do much better. Others' thoughts?
The deal I mentioned was for 36mo/12k miles. I expanded my search a bit and here is the latest:
2010 RX350, premium, comfort, nav; along with 19" wheels, parking assist, tow prep, cross bars, accy package, wood & leather trim wheel & shift
MSRP- $47,644
Sale Price- $42,533 (they are also paying $457 for last month of BMW lease)
Acquisition- $700
Total cap cost- $43,289
MF- .00187
Resid- 58%
$1600 due at signing ($600 doc, DMV, 1st month)
$604/mo for 36 months/12k miles
This certainly is much better. Any thoughts? I could really do w/o the extra $2200 in options over and above the 3 packages, but it seems to be hard to find a vehicle w/o at least some of these add-ons. W/o it would probably drop the payment quite a bit.
This is the final offer from my dealer. What do you feel about this deal?
2010 Rx350 AWD with Premium, Comfort, Nav, Tow Prep, Wood Steering. MSRP 47400.
Lease terms: 3k out the door, 535/month, 36/10k miles.
Location: Los Angeles, CA.
Westside dealer on a $51,900k MSRP RX 450h (basic package), is quoting $49,400 price, money factor 0.002 (4.8%) and 3 yr residual of $30,100. He then said all that comes out to a $695/month payment IF I put down $5000 and this is a 10,000 mile/yr lease. The 3yr residual comes to 58%..seems low from what I have seen posted here but maybe they've dropped with economy weakening and with new 2011 Lexus model coming. Dealer did mention though the RX 450h 2011 now probably will not come out until end of the year...or was that yet another "stretch"? Anyways, any views or facts on those numbers? The $695/month seems high...can't seem to get to it when I plug it into an Excel spreadsheet. Appreciate any advice/info.
Thanks very much - Novice lease buyer.
With that in mind. Your deal strikes me as "average," maybe a little worse. I'd be looking to put $2k down with monthly payments of no more than $645. I think your dealer has a lot of room left to negotiate.
Don't disregard the power of making them come up with lower numbers, without you countering. Also, don't be afraid to go elsewhere or to leave if you don't like what you hear. After all, it's the end of the model year and I'd be very surprised if the 2011 aren't here by October.
I just leased a 2010 Lexus Rx350 AWD with Navi. The MSRP was approx 48,000.
I put 1278.46 down which included my first months payment. My mothly payment, tax and all, is 590.71.
48 months with 15,000/miles per year.
Any input would be greatly appreciated. Thanks!
Then to get to your $599/month, before tax, I assumed a 0.002 (4.8%) factor, 25,400 residual, 45 Doc Fees, 600 Acq Fee, 352 Title/Reg/Lic Fee, 9 Tire Fee and included your 1400 downpayment. Your Adjusted Cap Cost on your contract should be around 47,181 and your all-in payment going forward is 648/month incl tax (9.25%). Curious if I got close or if I have some errors/bad data? I guess the other figure the dealer can potentially tweak is the residual. If I may ask what residual did they give you?
Thanks again.
MSRP 47K
Down- $3000
Monthly- $540
Miles- 12K per Yr
Duration- 3 Yrs.
Residual- $28000
First 2 Services Free
Please help me if i can go for it.
Is there anything else i should be asking for
i will see what i can do... i want to make a following offer again and see
Down: 3000
Monthly- $535
Miles-15K
What do you say...
http://www.truecar.com/Lexus/RX_350/2010/best-price-report-A965767C.html?colorIn- fo=Starfire%20Pearl,Black,6017_001_077.jpg&optionInfo=6511638,6511627,5974925,65- 99859,6511612,-6511632,6511629,5756397,-6511644&incentiveIds=0&trimId=309664&mod- elId=19025&zipcode=22202
Good luck!
darn car.
1. 450h = Lexus reliability (we hate spending time at the shop, causing one or both of us to miss work and such a hassle to rearrange schedules), really liked the new exterior design, interior layout was very nice, rich leather, ample space, velvety ride, ultra quiet, expecially the hybrid version along with 30 mpg gas mileage, remote touch navigation is better than the others I tried, and just an overall upscale feel inside and out. It would have been nice to have a 3rd row option to use in a pinch and ports shouldn't be so hard to get to in the arm rest, but otherwise this car fit the bill in every way. IMO, it's perfect for a family who needs an all-purpose luxury car to commute to work, run daily errands, take the kids to school, take the family on a 1,000-mile road trip for the weekend, and then show up to a black-tie dinner.
2. Acura MDX/RDX - great reliability. However, while the handling was a touch better than the RX, the ride is not nearly as refined, there's more noticeable road noise, and the transmission is not as smooth. I didn't like the "bagel slicer" front grill and the controls were a bit too busy looking. This was tied as our 3rd place car.
3. Audi Q series - really nice handling, but that's about where it ended. Reliability was a major issue for us, and although Audi's record in that department has improved somewhat over the past few years, it's not reached Lexus reliability. Interior was not quite to the level of the Lexus. This was tied for our 2nd place car.
4. BMW X series = on par with Audi in terms of handling, but road noise was pretty loud and interior was not even close to the other brands. Ride was on the harsh side. 3rd row option was nice though. Reliability is better than Audi and MB, but still not a Lexus or Acura. We liked the exterior design, but overall, it was never really in the running.
5. Cadillac Escalade/SRX - we test drove the Escalade once, and once was enough to know it wasn't what we wanted. Way too big, bulky, and pretty gaudy all around. The SRX was better, but we weren't at all impressed with the quality of the interior, the fit and finish, or the ride comfort. The exterior was a bit edgy as compared to the others, and we liked it.
6. Infiniti Fx/Qx - As with the escalade, the Qx was just too bulky for us, but it drove a lot smaller than the Caddy. As for the Fx, the design didn't really do anything for us, although we liked the interior and the ride quality. This was tied for our 3rd place with the Acura.
7. Land Rover - different, but that was about it. Reliability? 'nuff said.
8. Mercedes GL and GLK -- We really liked both of these. Alot. The GL's exterior is really striking, has an aggressive stance, although the interior could be nicer. Navigation needs to be improved big time. The M B Tex a.k.a. pleather, also was a turn off at this price point. But, unlike the other larger SUVs, this one drove really small for its size. This was our 2nd place car, and we probably would have bought it but for reliability history for the GL (not good, to say the least), and the poor gas mileage. If both of these improve in the next five years, we're getting this car. As for the GLK, if we went with MB, we would have gotten the GL over the GLK.
9. Porsche Cayenne -- test drove it once, was not impressed with the ride quality, then came back again in a month and confirmed it was not for us. Bouncy ride (better not put any hot coffee in those cup holders), jerky accelleration, just overall not a comfortable ride. I couldn't imaging taking it on a road trip of any significant duration.
10. Volvo XC series - a few years ago these would be high on my list. Since then, every other car on my list has equaled Volvo in the one category that Volvo used to be the leader in - safety. Who feels unsafe in any of the cars above? Once you get past the safety advantage, there wasn't much the XCs offered that wasn't surpassed by the other cars. Plus, the reliability has dropped off over the last few years.
11. Other cars never in the running -- Hummer, Lincoln, Hyundai.
I'm loving the hands-free bluetooth on the car, the passive entry(I don't need to fish in my purse for my keys). That is so convenient! Even the shift gate is super smooth when shifting from park to reverse and drive. It's actually an even more quiet car than the '07 when in drive mode. I also think the 2010 is a littler easier to see out of from the side rear window parts. Being a repeat Lexus customer, I was able to lease this car for the same payment as my '07 model with less money down, and the price on this car was about $5,000 more than the '07. So, except for the lower than expected gas mileage, I'm loving everything on the 2010!
Wow, didn't mean to touch a nerve. You are absolutely correct concerning my ignorance of leases and financing a car. It just seems to me that it makes alot
more sense to just pay cash and not have to deal with all the finance charges. I
have been fortunate and have not had to finance a car. Perhaps I spoke too soon
and did not consider that not all have the cash to buy outright. I meant no offense.