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

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  • borg1of2borg1of2 Member Posts: 90
    I didn't look at all of the lease numbers, worked to get a bottom line lease payment which I felt was a good deal.

    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?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    As long as the dealer is using the same attractive selling price, all you need to look at if you switch to financing is the interest rate that you are being charged. Interest rates are very low right now, so if you aren't happy with what the dealer offers you can always finance through a local bank or credit union.

    Car_man
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  • binc1163binc1163 Member Posts: 2
    Hi -
    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
  • devs6devs6 Member Posts: 11
    Car_man

    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
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi binc1163. Something's off with the money factor that you were quoted for this truck. Lexus Financial Services' current buy rate for a 2011 RX350 AWD should be around .00110 for consumers who qualify for its top aka "Tier 1+" credit tier.

    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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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go devs6. Lexus Financial Services' September buy rate lease money factor and residual value for a 36 month lease of a 2011 RX350 AWD with 10,000 miles per year are .00110 and 57%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier. The addition of navigation does not have any impact upon this truck's lease program, but the addition of the rear entertainment system does.

    Car_man
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  • binc1163binc1163 Member Posts: 2
    Hi Car_Man,

    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
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome binc1163.

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  • hockey29hockey29 Member Posts: 4
    Hi Car_Man-
    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?
  • BlessendcBlessendc Member Posts: 12
    Im trying to get money factor and residuals on Rx350 and RX450 for 36 months and 15k a year. I live in central jersey and the dealers are coming back to me with 700 and change for the 350.
    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!!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I certainly can, hockey29. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2012 RX 350 FWD with 10,000 miles per year are .00190 and 61%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    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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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Blessendc. In your area right now, Lexus Financial Services' 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 .00110 and 54%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    The numbers for an otherwise identical lease of a 2011 RX 450h AWD are .00190 and 53%.

    Car_man
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  • mbostonmboston Member Posts: 1
    Hi Car Man.

    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.
  • linyr94linyr94 Member Posts: 19
    I'm looking to lease a 2011 RX350 AWD with NAV and whatever else comes with it (sticker around 49k). I would like to trade in my current 09 RX350 (fully loaded with NAV), 36.1k miles, very clean and 1 payment left.
    What do you guys think I could get for it from Lexus dealers if I decide to trade it in?
    Thanks.
  • nyc6035nyc6035 Member Posts: 13
    Time flys!

    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!
  • cuddcudd Member Posts: 2
    I can't seem to get the numbers to tie based on my current regional promotion of $469 month for a 2011 Lexus RX 350 AWD.

    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.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi mboston. Lexus Financial Services' September buy rate lease money factor and residual value for a 36 month lease of a 2011 RX 350 AWD with Navigation and 15,000 miles per year in your area are .00110 and 54%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    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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  • avmbaavmba Member Posts: 27
    Hi Car_Man,

    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!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go avmba. Lexus Financial Services' October 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 .00180 and 58%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    The residual value for a lease with only 12,000 miles per year would be 2% higher.

    Car_man
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  • avmbaavmba Member Posts: 27
    Thanks, Car_Man. I was actually interested in a FWD - is there any change to the MF or residual?
  • chunkalunkchunkalunk Member Posts: 8
    Hey Car_man
    Can you tell me the buy rate for a 2012 RX 450 Hybrid AWD with 15K miles?

    Thanks!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Those were actually the numbers for the 2012 AWD. LFS' October buy rate lease money factor and residual value for a 36-month lease of a 2011 RX 350 FWD with 15,000 miles per year are .00190 and 51% for Tier 1+ customers.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'd be happy to chunkalunk. Lexus Financial Services' October buy rate lease money factor and residual value for a 36-month lease of a 2012 RX 450 AWD with 15,000 miles per year are .00190 and 50%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    Car_man
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  • chunkalunkchunkalunk Member Posts: 8
    thanks car_man!
  • dbc12dbc12 Member Posts: 3
    Are these the same rates for a 2012 RX350 FWD 36 mon and 12K or is the residual different? Thanks
  • jgreenspanjgreenspan Member Posts: 3
    Hi,

    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
  • sunnyfl1sunnyfl1 Member Posts: 19
    Negotiating based on monthly payment is not recomended. always start with the purchase price and then ask about the leasing conditions .... Money factor? residual value?
  • kendallcatkendallcat Member Posts: 8
    Based on the current money factor and residual what would be a good monthly lease be for an AWD RX350 without nav - 12k miles per year, no money down, and 36 month lease? Thank you in advance for the help.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem chunkalunk.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Dbc12, Lexus Financial Services' current buy rate lease money factor and residual value for a 36-month lease of a 2012 RX 350 FWD with 12,000 miles per year are .00150 and 60%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    Car_man
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  • kendallcatkendallcat Member Posts: 8
    Carman - based on the MF and residual given above how would I figure out the correct lease rate per month on a 2012 RX 350 without nav based on invoice pricing. Trying to learn how to figure this out on my own for future reference. Thank you in advance for the help.
  • bdinobdino Member Posts: 11
    CarMan- Do you know the current buy rate lease money factor and residual value for 2012 rx350 awd? Current specials in the area are $449/month, $3775 down, 10k miles for 36 months. Base model with convenience package. thanks.
  • bdinobdino Member Posts: 11
    Considering 2012 awd 350 lease with 12k miles/year. Car has premium, nav, comfort package, and park asst. msrp is $49k, and purchase price is $44500. With $0 down, monthly is $648/month. How does this sound? Does anyone know money factor and residual? Thanks.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi kendallcat. Let me know what this truck's MSRP and selling price are and I'll crunch some numbers for you. You can find this pricing data over in the New Vehicle Pricing section of Edmunds.com.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I certainly do bdino. Lexus Financial Services' November buy rate lease money factor and residual value for a 36-month lease of a 2012 RX350 AWD without the entertainment system with 10,000 miles per year are .00150 and 61%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.

    Car_man
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  • kendallcatkendallcat Member Posts: 8
    Thank you for the offer. MSRP is around $45,228, and through my deal with USAA I am able to get the car for $42,072. Based on this information what would be a fair montly lease rate for 36 months with 12,000 miles per year? Thank you in advance for the help.
  • nykr95nykr95 Member Posts: 13
    Car_man,

    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.
  • mike8888mike8888 Member Posts: 1
    Hello
    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
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem kendallcat. According to my calculations, if you were to lease a 2012 Lexus RX 350 AWD that has an MSRP of $45,228 and a selling price of $42,072 through Lexus Financial Services for 36-months with 12,000 miles per year, your zero down, pre-tax monthly payment would be around $519.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi nykr95. This truck's residual values are national, so they don't vary by region. This truck's residual value is indeed 61%.

    Car_man
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  • gavrikgavrik Member Posts: 51
    Car_man,

    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.
  • nykr95nykr95 Member Posts: 13
    Gavrik,

    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
  • joshd1joshd1 Member Posts: 7
    Hi CarMan - I see data on 10k and 15k, but not 12k. Can you provide the Money Factor and Residual % for 12k miles annually on a 36-month lease? Location is Los Angeles. Thanks!
  • gavrikgavrik Member Posts: 51
    I am not assuming anything. I took the numbers directly from the offer page.

    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.
  • jaezirojaeziro Member Posts: 5
    I live in miami fl and puchased a new rx350 from n miami lexus. Iwas charged $50 for electronic processing e-tag plus $100 transfer fee plus $20 3rd party tag agency. I think this is excessive. Now the new title has arrived and they want another $65! comments please.
  • stimstim Member Posts: 36
    Currently working on a deal - actually have the car sitting in my garage - with a dealer in the St Louis 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.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi joshd1. Lexus financial Services' residual values for a lease with only 12,000 miles per year are 2% higher than its 15k and 1% lower than its 10k residuals.

    Car_man
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  • qwazrqwazr Member Posts: 12
    Car Man,
    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
  • gavrikgavrik Member Posts: 51
    Ok, I leased RX350 AWD w/ Premium and Acc Pkg 36mo 10k per year today. They had the vehicle in stock with color combination I wanted. The dealer started at MSRP but in the end would not budge in on the selling price of $42.5k ($3K off MSRP). They did give me more money on the trade-in ($3k more) than the dealer I talked to several days before. So, the trade-in was a wash but did help me offset the sales tax.

    $541 per month with 1st payment paid by Lexus. I paid upfront net sales tax, doc and transfer fees.
  • jaezirojaeziro Member Posts: 5
    I purchased from lexus of north miami in florida. I paid $50 efiling fee for tag transfer, $100 fee to transfer tag plus $20 third party tag agency fee. Now the dealer received the new registration and wants another $60! I think this is excessive.

    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
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