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2013 and earlier Lexus RX 350 / RX 450h Lease Questions
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Comments
RX350 FWD with Nav, Comfort, Premium, Parking Assist and some misc.
MSRP $48,405
Lease Payment $535/month, includes taxes, on a 36 Month lease with 12,000 miles.
Put down $3000
Thoughts on the deal?
Car_man
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Do you think it is ok to lease a DEMO car? It has about 5,600 miles on it. Not sure if I got ripped off or not
2011 RX 350 AWD w/ nav, prem package, comfort package, 19" alloy wheels, towing prep package and other misc add ons
MSRP 48,645
Selling Price 45,745
Money Factor .00014
36 month 10,000 mile lease
Offer $589 month, with 3,368 down which includes 1st month payment.
Thank you for your input
Can you post the numbers for a 2011 rx350 awd 35 month lease at 10k mile a year .
I see the money factor of .00014 but no one supplied the residual value on a non nav vehicle.
I dont know if that makes a difference in lexus residual values
thank you
As far as the selling price goes, the problem that I personally have with demo vehicles is that dealers rarely seem to be willing to discount what is essentially a low mileage used vehicle enough for my taste. Let's take a look at the selling price that you were quoted. There's probably a spread of around $4,000 between this truck's full MSRP and its dealer invoice price. In order for me to justify purchasing a demo, I personally would want to get it for under invoice...that means a discount of at least $4,000 and preferably more. You were quoted a $2,900 discount. That's probably equivalent to a little over $1,000 over invoice, which isn't terrible for a brand new truck but again I personally would want more of a discount on a demo. Some people might not require as large an additional discount to go with a demo, but I'm picky .
Car_man
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Car_man
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Thank you for your input, it was hard enough getting this out of them, I don't know why these car dealers think they are doing you a favor. Ugh!! I hate buying cars.
Thank you again
Car_man
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Can you give me the buy rate for a 2012 RX 350 in So. Cal. I'm looking to get into a 36 month/10K per year lease and wanted to know what the money factor buy rate is/what the best deal I can hope for plus what the residual is. Also, any thoughts on how much I can expect for discount off of MSRP. I know they're dealing on 2011's but think dealer is having trouble finding what we want so we're using a build allocation for a 2012. Thoughts?
I returning my 09 Pebble beach soon and i only pay 500 with nothing down with 15k a year. I just don't understand how they are getting these numbers!!
I'm not personally all that familiar with what the market is like for the RX in your area right now, but you might be able to get an idea by stopping by the following discussion: Lexus RX 350 Prices Paid and Buying Experience.
Keep in mind that if you order a vehicle that you probably won't be able to get as large a discount as if you had leased one that was in dealer inventory.
Car_man
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The numbers for an otherwise identical lease of a 2011 RX 450h AWD are .00190 and 53%.
Car_man
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Could you let me know the Lexus Financial money factor and residual rates for a RX 350 with Nav for a 2011 model year versus the 2012 model year for the Boston area? I'm trading a 2009 Pebble Beach edition they are being stingy with the details on their assumptions. They quoted me a 240 money factor for a '12 which seems high and I am somewhat indifferent between a '11 and a '12. Also, if possible, can you provide the same info for 36 months and 48 months.
Thanks very much.
What do you guys think I could get for it from Lexus dealers if I decide to trade it in?
Thanks.
Way back in post 1114 in this thread I posted my lease deal - during the start of the recession. I think I got a great deal. My buy out price in the the mid20's and the fmv seems to be $30-32K. Vehicle is in good shape, low miles and all the rest is all good.
My lease ends in mid-Dec. The dealer came calling the other day and spoke to my wife (who's name the lease is in) and said we may have value in the car. The said we should visit the dealer so they can inspect the car and consider if they want to make us a deal (higher than the buy out price). She did ask about how that works in terms of taxes (leases only charge you for the portion you 'own' not the entire vehicle in New York)...they said if the deal was done with them (they are a NJ dealer) there would be no tax event. We would have the choice of buying/leasing a new vehicle or walking away with the buyout dollars.
OK...now for the question - I'm generally suspicious of too good to be true...and of car dealers especially....I know it's rare for a lease to have meaningful value at termination - but does anyone have experience with this 'problem.'
THX!
MSRP - 45,812
Residual Value (57%) - 26,113
Cap Cost Reduction - 3,000
Total Depreciation = 45,812 - 3,000 - 26,113 = 16,699
Monthly Depreciation (36 months) = 463.86
Based on my math above, the money factor on the lease is almost zero given that the ad specifies $469 a month. A money factor of 0.0011 adds $79 a month to the lease, which gets me to $543.
The numbers for an otherwise identical lease of a 2012 model are .00190 and 58%.
As you suspected, the money factor that you were quoted on the 2012 model is indeed too high.
Car_man
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Looking to see if OCtober MF and Residual changed at all. Looking to lease a 2WD RX350 with Nav, Luxury package, and a few other options - 36 mos and 12k or 15k miles for top tier.
Thanks!
The residual value for a lease with only 12,000 miles per year would be 2% higher.
Car_man
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Can you tell me the buy rate for a 2012 RX 450 Hybrid AWD with 15K miles?
Thanks!
Car_man
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Car_man
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Just about to lease my first lexus, and curious if this is a good deal. Live in Midwest
Getting 2012 RX350, no nav (MSRP $45,159).
Didn't negotiate purchase price, instead monthly payment.
Offer is $650/month with zero down (1st payment), includes taxes. I got a lot of other quotes, and everyone seemed to be in the high $600's or low $700's in central region.
Let me know if this is a good deal
Car_man
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Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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I noticed in Southern California they have a different promotion - it looks like that makes it a RV of 55% not 61%. Is that a typo or a regional difference?
2012RX350
$439mo.36mos.
$3,499due at signing.
Excludes official fees, taxes and dealer charges. No security deposit required.
*Available on approved credit to qualified customers through Lexus Financial Services and participating Lexus dealers on a new 2012 RX 350. Not all customers will qualify. Offer based on MSRP of $44,184 for RX 350, including delivery, processing and handling. 36 monthly payments total $15,819. Monthly payment may vary depending on final price of vehicle & your qualifications. At vehicle turn in a disposition fee will be charged. You pay maintenance, insurance, excess wear & tear & $0.25 per mile over 10,000 per year. Lease-end purchase option price $26,952 plus taxes & fees. See dealer for vehicle and lease program details. Must take delivery by 1/3/12. This offer is available in the Lexus Western Area.
I live in metro Detroit area and look to purchase a RX350
AWD, Nav, etc. I am looking to pay 44,500 for MSRP $49,500. My current dealer wants $47,000. I appreciate any referrals in the area.
Many Thanks
Michael
Car_man
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Car_man
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please confirm with me: current RX350 AWD /w premium pkg ($45308) lease offer is taken directly from Lexus website. In the Chicago area, the vehicle above has residual of 61%. Lexus says with $3500 down+1st payment, the monthly lease is $449.
Based on my calculations, this translates to money factor of 0.000792 (1.91%). You mentioned current money factor is at 0.0015 (3.6%).
What gives?
I need your urgent reply as I am going to lease one tomorrow. Thanks.
You are assuming the selling price is the same as the MSRP - which it isn't and I believe the $700 lease acquisition fee may be in the $3949 due at signing - so it's less actually applied against capitalized cost. The .0015 MF seems to correct because it matches all the other regional ads.
Steve
It says "selling price" of the vehicle of $45,308, "residual" of $27637.88 (61%), due at sign-in $3949, $449 1st month payment. So, this makes cash payment of $3500.
This would be my 4th Lexus lease and never before I had to pay any lease acquisition fees. Based on the above number, financing rate comes to 1.9%. This is not a coincidence.
I visited my closest Lexus dealer earlier today. They would not budge in on the selling price. He was telling me they must make $2500 in profit and not interested in moving inventory quickly.
It's time to go visit other dealerships in the area.
Was "trading" a BMW X5 (2008) which is leased and ending in December. The deal is as follows:
Stargazer Black with Black, Premium/Comfort and remote start total MSRP is 50250.
Dealer price is 46500
Equity in BMW Lease is 4100 less 1K for tires so 3100 applied as a down payment.
Still have to pay final payment to BMW and in Missouri we have Personal Property Tax
Total monthly payment including tax is around 595.00 but with the PPT and BMW payment it jumps to 635. Will be paying the BMW Payment and PPT on my own because you basically have to pay tax on the amounts and I would have paid those on my own anyway.
They gave me a 60% residual (12000 per year) BUT the MF was quoted as .00225 (5.4%) which I though was VERY high considering my credit score is about 820. To me it seems that they are "bumping" the MF to make up for the BMW trade value. First months payment is waived via Lexus promotion.
Can CarMan verify that the MF for November is indeed .00225? The other dealer in the area quoted something like .00180 a week ago. They only gave a 1000K allowance for the BMW though. Their monthly payment would have been about 585 including tax - BUT I'm not sure of the BMW final payment/PPT which I assume is not included. Their sales price was 46500.
Would appreciate the info ASAP because I have a deal sitting on the table / car in the garage. Thanks.
Car_man
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Could you give me the November residual values and lease rates for a 2012 RX350 AWD 36 month lease with 15,000 miles?
Thanks you
Qwazr
$541 per month with 1st payment paid by Lexus. I paid upfront net sales tax, doc and transfer fees.
Additionally i researched prices online and have printed proof of the actual fees, which are $15. Efile, $18 to transfer tag.... Any suggestions on how to handle this with the dealer?
Thanks