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

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  • cpccarolyncpccarolyn Member Posts: 4
    It would be interesting to hear any sound financial decisions for not paying cash for a
    car. When would financing be a better option? I don't think anyone would prefer to
    pay interest on anything when they have the cash to pay for it. That doesn't even sound logical in my humble opinion.
  • delta737hdelta737h Member Posts: 626
    Greetings Carolyn!

    You said...

    "I don't think anyone would prefer to pay interest on anything when they have the cash to pay for it. That doesn't even sound logical in my humble opinion."

    Let me answer your question with a question. Suppose you could finance a car at an interest rate of 1.5% and that you have the opportunity to invest your cash in a riskless investment yielding an after tax rate of return of 3.0%. Would it be financially prudent to pay cash for the car, which is a depreciating asset, and forego the opportunity to earn 3.0% after taxes on your cash? Or, would you be better off investing your cash at 3.0% after taxes and financing your car at 1.5%?

    The decision is really no different than asking which credit card debt should I payoff first...

    A credit card with an APR of 24% or a credit card with an APR of 18%?

    Hope this helps.

    John
  • cpccarolyncpccarolyn Member Posts: 4
    Thanks, John! Point made. Actually 3% return right now sure sounds good.
  • vdub8vdub8 Member Posts: 16
    Hi Car Man,

    Do you have the MFs and Residuals for the 2010 FWD RX350 & 2010 AWD RX350 -

    12K/36
    12K/48
    15K/36
    15K/48

    Are these numbers significantly different on a 2011? Thanks so much for your help!!!!
  • vdub8vdub8 Member Posts: 16
    Hi Ram,

    Which option packages did you get with your RX beside NAV?
  • vdub8vdub8 Member Posts: 16
    Hi riggosmom -

    did you get the premium and/or comfort package too?
  • nate24knate24k Member Posts: 1
    Hi everyone. I'm looking into leasing a 2010 RX 350 and was wondering what competitive rates were right now. Both my wife and I have top tier credit. We're looking for a 36month/15K miles lease with nothing down.

    The first quotes I received were:
    Premium Package - $655/month
    Navigation Package - $715/month
    Luxury Package - $758/month

    Those quotes seem high based on what I've read on this forum. We live in Houston so we have several dealerships to work with. Any advice on how to get a better deal?
  • riggosmomriggosmom Member Posts: 3
    Sorry it took me so long to reply, I just saw this posting today!

    I had to look at the sticker that came with my car, but YES, it has both.....
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi rhpdev. Lexus Financial Services' current buy rate lease money factor and residual value for a 48 month lease of a 2010 RX350 AWD with 12,000 miles per year are .00175 and 48%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    The numbers for an otherwise identical lease of a 2010 RX450h AWD are .00150 and 48%.

    I don't believe that Lexus is currently providing any cash incentives on either of these models.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go, srdv. Lexus Financial Services' current buy rate lease money factor and residual value for a 24 month lease of a 2010 RX 350 FWD with 10,000 miles per year are .00175 and 65%, respectively for consumers who qualify for its top aka "Tier 1+: credit tier.

    The numbers for an otherwise identical lease of an AWD model are exactly the same.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    edited September 2010
    I sure do, vdub8. Here's the information that you're looking for.

    Lexus Financial Services' September buy rate lease money factor and residual value for a 36 month lease of a 2010 RX350 FWD with 15,000 miles per year are .00175 and 55%, respectively.

    The numbers for an otherwise identical 48 month lease are .00175 and 46%.

    If you were to lease with only 12,000 miles per year, the above residual values would be 2% higher.

    The numbers for the AWD model are exactly the same.

    I haven't seen anything on the '11 RX yet, but I'll ask around to see if anything is out.

    Car_man
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  • jemejeme Member Posts: 12
    Car Man - thanks so much for all the info you provide on this fourm.

    I see the 2010 RX350 FWD with 15K is at .00175 and 55% residual, can you please tell me that same information for a 2010 RX450h?

    Thanks so much!!
  • tkman00tkman00 Member Posts: 26
    Hi Car_man,

    First thanks for providing all this info.

    Could you give me the money factors and residuals on an AWD RX350 w/ 36mo/10K miles?

    Thanks.
  • orchid115orchid115 Member Posts: 5
    I am currently leasing a 2008 RX350. The car is AWD with navigation system,bluetooth and backup camera. The lease is 39 months with 1000 miles/month. It's expiring in a few days. I'm considering buying it out ($24740) with extra 3-year warranty ($2000-$2850 from different dealers w/ or w/o certification). The Lexus Financial Service has told me the initial agreed-upon purchase price was $42100, which came to be $44206 w/ sales tax.

    The buyout price is pretty good If I compare it with dealer's 2008 comparable prices. But I've paid almost $25000 for the past 39 months ($627/mon, of which $493 goes toward paying down the purchase price and $134 is the rent charge). It doesn't seem to be so good if I look at the total price for the car. I could get about $6500 discount off a new 2010 RX. The good thing with 2008 is it has no problems so far. 2010 cars seem to have some issues (bumper popping off, navigation...) since it's a redesign. And I seem to get lemon cars quite often.

    Another question is: Should I buy the extended warranties? Based on my past unlucky car experiences, I always buy extra warranties. But my friends who own Japanese cars don't feel the need to. My current warranty will expire next July. One dealer told me it's extra 3 years after my current one expires. Another dealer told me it's extra 3 years from the buyout date, which means I only get extra 2 years and 3 months out of the warranty. Would someone know whose information is correct?

    I'd appreciate anyone's opinion. Thanks.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, jeme.

    Lexus Financial Services' buy rate lease money factor and residual value for a 36 month lease of a 2010 RX450h AWD without the entertainment system with 15,000 miles per year are .00210 and 56%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    When negotiating your lease on this truck, make sure to take advantage of the $2,000 dealer cash that is currently available on it.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, tkman00.

    Lexus Financial Services' October buy rate lease money factor and residual value for a 36 month lease of a 2010 RX350 AWD with 10,000 miles per year are .00210 and 57%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    Car_man
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  • westside4westside4 Member Posts: 5
    edited October 2010
    Hello Car Man,

    I'm going to lease a 2010 RX 450h for my wife. Got offers on the price $3000 below sticker (primarily due to $2000 incentive). However, now that I'm getting into the Lease details, I'm being told that the Residual value is lower on the 2010s (which makes sense) and the money factor is significantly higher (which doesn't make sense). I'm being told that I'm better off with a 2011. If the above re: both residual value and money factor is accurate, that may not be right, but at not that far off.

    Thoughts on the matter? (top tier credit, etc...) What the difference now in residual value and MF between the 2010 and 2011? Also, no reason I can't apply the $2000 incentive to either one?

    Thanks!
  • tkman00tkman00 Member Posts: 26
    Thx car_man,

    Is it safe to assume that this is the case regardless of the options included?

    Thx.
  • maximafanmaximafan Member Posts: 592
    edited October 2010
    I was faced with these decisions when I was going to turn in my '07 RX350 at lease end. I was very fond of the '07, but I had found a 2010 RX(the only one on the lot with these options) that had the premium package, comfort package, but no navigation or back-up camera. My '07 was a non-navi vehicle with just the premium package. So with the 2010, the extra features that I got were adaptive forward lighting with the xenon lights, rain-sensing wipers(were standard on my '07 RX), hands-free bluetooth, heated and ventilated seats, and push-button start/smart access. I even considered maybe buying a used 2008 or 2009 RX350 with navigation that would have a lot of the features that I got on the 2010, but in my opinion, they're still priced a little too high, particularly for a certified pre-owned.

    My sister-in-law ended up buying my 2007 RX for the agreed-upon buyout. I think she got a great deal. And while I'm enjoying the tech features on the 2010 RX, I think I like the ride better on the '07 RX. The new one is a little more bouncy on the highway; at idle, it's louder than the '07 RX at idle, and not to mention I'm not getting as good of gas mileage compared to the '07. Also, I don't know if this bugs anybody else, but when I pull into a parking spot or pull into my driveway, if I don't fiddle around with rotating the steering wheel back to the upright position, it usually ends up in the upside down position. And this occurs even if you've turned the wheels only slightly. It drives me crazy! I don't know if this is because of the 19 inch wheels or because it has electronic power steering instead of whatever the '07 had(I think it was a speed sensitive-type power steering) I'm not a fan of the electronic power steering.

    Anyway, my sister-in-law is happy with the '07 RX. At least my 2010 is looking cool with the chrome wheels! :shades:

    By the way, my sister-in-law ended up purchasing a 2 year/100,000 mile warranty just for peace of mind. While she may never have a problem in those two years, if she does, the RX can be expensive to fix.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi westside4. I don't believe that Lexus is currently providing lease support on either the 2011 or 2010 RX 350. As a result, if one was to lease either they would have to use Lexus Financial Services' buy rate lease money factor of .00210 (Tier 1+ credit tier). In short, the residual values for the '11s will definitely be better, but their money factors should be the same.

    The $2,000 dealer cash is only available on leftover 2010 models, not 2011s.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're welcome, tkman00. The only option that has any impact upon this vehicle's residual values is the entertainment system, which knocks 2% off of its residual values.

    Car_man
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  • dresnikdresnik Member Posts: 7
    I just got a lease quote for a 2010 RX400h of 585.91 for 36/15K with $4K down

    quoted MSRP of 50,485 sale price of 44,210 with 1,000 BMW coupon

    They claim this promo is over 11/1/10

    I've extended my lease on the X3 until 12/17 and want to know if the Lexus deals will get better after 11/1 or will this be their best deal.
  • rkhalilrkhalil Member Posts: 3
    Hi,

    I am Leasing lexus RX 350 AWD 2010 with premium, comfort and navigation package, demo vehicle used by dealer with 5300 miles on it, msrp 48500, 12000 miles/year x 3 years, offer is $ 610/month including 6 % sales tax, 1800 due at signing(including first month payment, Title, registration, and aquisition fees). Is this a good deal ? Please advise. Thanks
  • m3_fanm3_fan Member Posts: 4
    I just brought home a brand new Silver and black 2010 RX350 Loaded with the following options
    Premium Pkg, Comfort Pkg, Nav, Towing Prep, Parking Assist, Remote Start etc

    MSRP - 48586
    Sale price - 42586 - 6k off
    Additional $1000 Lexus Conquest discount for coming off a Cadillac lease in the last 90 days
    36 months 12k/year
    Residual - 56%
    MF - 0.0013

    $4500 refundable security deposit got another $35 off lease payment (not sure of the specifics)
    $1700 nonrefundable out of pocket - (1st month + lease acq of 800 + doc fee 190 +new plates)

    Final monthly payment $485 including 6% MI tax. I hope I did good.

    Thanks a lot to this forum.
  • rkhalilrkhalil Member Posts: 3
    which dealer did you get it from
  • rkhalilrkhalil Member Posts: 3
    Dear Hosts please advise,

    I am Leasing lexus RX 350 AWD 2010 with premium, comfort and navigation package, demo vehicle used by dealer with 5300 miles on it, msrp 48500, 12000 miles/year x 3 years, offer is $ 610/month including 6 % sales tax, 1800 due at signing(including first month payment, Title, registration, and aquisition fees). Is this a good deal ? Please advise. Thanks
  • m3_fanm3_fan Member Posts: 4
    My local dealer - Meade Lexus of Southfield, MI.
  • geojregeojre Member Posts: 12
    can someone provide the residuals for 10 and 12k on the 36 and 39 month leases? Also i saw carman posted the rates as being. 00021 is that correct? Thats almost nothing! Are you sure its not. 0021?
  • tlb5tlb5 Member Posts: 44
    any word on the 2011 rx350 AWD residuals, MFs, and potential incentives?

    i'm interested in 36 mo/12k but is there a time of year the #'s in general will be available?

    thank you!
  • andallthatjazzandallthatjazz Member Posts: 9
    We leased a 2010 450h about 2 months ago and absolutely love it! So now I want one for myself. Any word on AWD residuals, MFs, and potential incentives for 36/48 and 12/15k would be wonderful.

    Also, not directly related, but can anyone figure out or point to a site to figure out what hybrid colors are actually available? The Lexus site says not all 2011 colors are displayed and the dealer doesn't know anything different.
  • slickyrickslickyrick Member Posts: 1
    Hi Car Man,

    I just leased an RX 350, AWD, 2010, premium package with navigation. MSRP slightly under ~$49000. With 15k miles/yr, with $1910 drive off and $541/month including tax.
    Did I do good?

    thanks.
  • blizziebblizzieb Member Posts: 3
    I am intersted in either a 2010 or 2011 LExus RX 350 lease 4 years 10,000 or 12,000 miles, no money down. Does anyone know what the money factor and residual values are for these vehicles. If so, could you please share.
  • arbitrage1arbitrage1 Member Posts: 8
    Im interested in the 2011 MFs and residuals for November as well, but for 36 month leases. Thanks.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi rkhalil. You really need to find out what this cars selling price is. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Without knowing the selling price, it is difficult to tell how large a dealer discount you are being given and in turn if there is any room left to negotiate.

    Let us know and I'm sure that either myself or another helpful community member will gladly tell you what they think.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi geojre. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2010 RX 350 AWD with 12,000 miles per year are .00210 and 56%, respectively for consumers who qualify for its top aka Tier 1+ credit tier.

    The numbers for an otherwise identical 39 month lease are .00210 and 53%.

    When negotiating your deal on this truck, make sure to take advantage of the $2,000 dealer cash that is currently available on it.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello andallthatjazz. LFS' current buy rate lease money factor and residual value for a 36 month lease of a 2010 RX450h AWD with 15,000 miles per year are .00210 and 53%, respectively.

    The numbers for an otherwise identical 48 month lease are .00210 and 44%.

    If you were to lease this truck with only 12,000 miles per year, its residual values would be 2% higher.

    When negotiating your deal, make sure to take advantage of the $2,000 dealer cash that is currently available on this model.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi slickyrick. The easiest way to evaluate this deal is to look at this truck's selling price in relation to its MSRP. Do you know what its selling price was?

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    edited November 2010
    Hi blizzieb. Lexus Financial Services' current 36 month buy rate lease money factor and residual value for a 48 month lease of a 2010 RX 350 AWD with 12,000 miles per year are .00210 and 47%, respectively for consumers who qualify for its top aka Tier 1+ credit tier.

    The numbers for an otherwise identical lease of a 2011 model are .00210 and 50%.

    There's $2,000 dealer cash on the 2010 model, but none on the 2011 model.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi arbitrage1. Lexus Financial Services current buy rate lease money factor and residual value for a 36 month lease of a 2011 RX 350 AWD with 15,000 miles per year are .00210 and 57%, respectively for Tier 1+ customers.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi everyone. Just a bit of advise. Anyone who is in the market for a new Lexus, particularly a 2011 model, might want to wait a couple of weeks to get one. Rumor has it that Lexus will introduce its annual "December to Remember" sales event on November 19th. There is a good chance that its lease program on most models will be better through the new program than it is today.

    Car_man
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  • geojregeojre Member Posts: 12
    Any incentives for current lexus leasee's in PA?
  • socaljdsocaljd Member Posts: 6
    I hear that the December to Remember MF lease rate is .00180 (in So CA region). You can buy the rate down with MSDs, each SD (security deposit) is a .00008 reduction in rate, to a maximum of 9 SDs or a .00072 reduction. I couldn't wait and pulled the trigger on a 2010 RX450h Awd yesterday . . .
  • hybrid9hybrid9 Member Posts: 1
    Hi CarMan,

    I live in the Northwest and am new to the forum. We are in the market for a new rx450h and was wondering if you heard about any lease deals with the "December to Remember" event?
  • benz2779benz2779 Member Posts: 31
    My friend just got a great deal on a 2011 RX350 AWD. Premium Package, Comfort Package and Navigation with an M.S.R.P. of $47,985.00. 36 month lease with 12,000 miles per year and selling price 42,000.00. Monthly payment of $520.87 per month and just inception fees due at signing. I told him about www.simplifiedcarbuying.com 2 weeks ago and he said the process of buying a new car was never easier. Now he swears by it. I'm telling all you guys who want the best deal on a new car to use www.simplifiedcarbuying.com - dealers are getting trickyer and sneakyer - the stuff you learn from this website will really help you save money and time. Good Luck!
  • logic_3logic_3 Member Posts: 51
    Here is the numbers I can use some help with. Negotiating a lease in MI for my mother-in-law. Here is where we have started with the dealer:

    RX 350 AWD Base $39,375

    Comfort Pkg.: $1,950
    Cargo Spider Net: $49
    12-Spker Prem Audio Sys: $110
    Navigation: $2,465
    Intuitive Parking: $500
    Premium Pkg: $2,400
    Towing Prep Pkg: $238
    Remote Start: $375
    Wood & Leather Steering: $330
    Accy Pkg: $242
    Paint Protect: $429
    Cross Bars: $259

    ---Total Options: $9,347

    Delivery: $875

    Total MSRP: $49,597

    Sales Price: $46,199.82
    Money Factor: .00150
    3yr Residual: 57%
    36 mth lease with 15k miles/yr

    Mthly Payment Base: $609.75
    Mthly Sales Tax: $36.59
    Total Payment: $646.34

    Having trouble right now coming up with the same numbers the dealer did. Wanted to know if the money factor and residual values I have are correct for this month. What do you think about the sales price of the car? Should I be able to get it lower? They sales person also mentioned a lease acquisition fee for $700 and a doc fee of $190. Wondering if those sound right or if I should haggle them down.
  • valenkavvalenkav Member Posts: 18
    Hi, I got approx. same numbers using your MF & RV. Can you share with me name of dealer and dealership in Michigan where you got your SUV? Thinking of similar truck from Meade of Southfield. For me $650/mo is pretty high and I need or better discount or different option pkg or maybe Jeep Overland. Acq.$700 & doc.$190 look right to me. Enjoy your Lexus!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi geojre. Unfortunately, Lexus is not currently offering much in the way of loyalty incentives on the RX 350 right now. The only thing that I am aware of is the ability to get out of one's lease up to six months early for free.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi hybrid9. Lexus is providing a special lease money factor of .00150 (Tier 1+) on the 2011 RX 450h during its December to Remember event.

    In addition to that, Lexus is providing a $1,000 cash incentive to current owners of competitive luxury vehicles.

    Car_man
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  • i_spyi_spy Member Posts: 41
    Hi car_man,

    Could you please advise me the current money factor and residual on the 2010 and 2011 RX350 AWD with the following terms? With the $2000 incentives on the 2010 model, I am trying to do the math and see whether it's better to lease a 10 or 11. Thanks very much!

    24 months / 20,000 miles
    36 months / 30,000 miles

    Btw, based on what I've read in the forum so far, I assume the same MF & residual applied to FWD model as well, right?

    Thanks again!

    i-SpY
  • lexusmonkeylexusmonkey Member Posts: 25
    Car Man -

    To expand on i-Spy's inquiry, could you also list the residuals and MF for 2011 AWD RX350 for 48 months with 12,000 miles?

    Mahalo
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