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

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Comments

  • exlurkerexlurker Member Posts: 6
    insidecarbuy, that looks like a nice deal. What dealer did you use?
  • dz17dz17 Member Posts: 2
    what is residual on 12,000 miles/year?
  • jaymkjaymk Member Posts: 86
    Wow, that is unbelievable.
    Almost $7000 discount, how did You do that?
    Can You tell us which dealership is that?
    Thank You.
  • terflatterflat Member Posts: 1
    edited November 2012
    I am considering a Lexus Rx350 AWD lease. I have negotiated to $400 over invoice.MSRP is $49394 sales price is $46997. I was told invoice was $46597. The money factor is .00125 and the residual is 58%. lease is 36mos 15k miles. 0 down and $675 month. I am wondering if i am better off with a higher % residual or a lower % residual ? Should the residual value be based off the MSRP or sales price ?
  • monacodkmonacodk Member Posts: 11
    The lease on my 2010 RX350 is ending in about 3 months. I've never leased a car before, so I don't really know what to expect. I know I will be forced to make a decision - turn over the car to VLexus or buy it. The purchase price per the lease docs is right around $28k and I put up extra security deposits, so net net I should be able to buy the car for a hair under $27k. Car is a FWD, no NAV, pretty bare bones except for backup camera.

    Question #1 - My car will have around 25,000 miles at the time of lease expiration. I will have no mileage overages (lease allowance is 30,000); maybe be forced to pony up for tires and/or brakes. Would it be a good decision to purchase at this price?

    Question #2 - Given the above, does Lexus negotiate the residual purchase price, or do they stick to what is stated in the contract?

    Question #2a - Assuming they won't budge on the purchase price, what about getting them to certify the car with an extended warranty?

    Having never been through this process before, I'm not quite sure what to expect. Appreciate any feedback from those that have recently gone through a Lexus lease expiration process.

    Final thought, while we would love to lease a new RX, I feel like the sticker prices have jumped quite a bit over the past few years and I think there are better options as you approach the upper $40k MSRP range.
  • miniradminirad Member Posts: 5
    edited November 2012
    car man

    spoke to two Lexus dealers today on a lease of a 2013 RX 350 FWD MSRP $49,069. They both said December to Remember rates are out but not advertised. On a 3 year 12k miles per year, both quoted a 60% residual. However, one quoted me a MF of .00150 and the other .00100. Both through LFS.

    The dealer with the .00100 MF quoted me a selling price of $44569. $1250 inception fees, $499.00 a month plus tax for a total of $526. ( I live in South FL tax rate 6%). My questions are:

    1. what are the real MF's and residuals for December to remember?
    2. does the lease deal sound right?
    3. should I roll the inception into the monthly payment to make this truly a sign and drive?
    4. Is there wiggle room in this deal?
    5. should I consider MSD's. and if so, how much would each MSD drop the MF?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi minirad. The dealer that quoted you the .00100 money factor was right on the money. The other one was likely trying to mark your vehicle's factor up to add hidden profit to your deal.

    The payment that you were quoted for this truck looks about right to me, using the MSRP and selling price that you provided. I come up with $524 per month, which is pretty darn close to the $526 that you posted.

    I personally always roll the amount that's due at signing into the capitalized cost to pay as little as possible at drive off.

    The selling price and money factor that the dealer is giving you both look excellent to me. I doubt that there's much more room left to negotiate on this deal.

    The last time I checked, each additional security deposit, which in this instance would be $550, would lower your vehicle's money factor by .00010.

    Car_man
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  • miniradminirad Member Posts: 5
    Hi Car man

    Thanks for the feedback. I've been following these forums for some time and have learned a great deal from your sage advice. You've always been spot on. I kind of figured I was pretty close with this deal but wanted to run it by you to make sure I wasn't leaving anything on the table.

    If I could trouble you for a few more quick questions. Do you think going the MSD route is a good idea? And if I put down the max of 9 x 550 or $4950, what would my payments be? The dealer said I had to pay the $1250 inception up front. Like you, I wanted to roll all of it into the cap cost and basically make it a sign and drive. Is that possible to do? Or would I at least have to make the first payment $526 at inception, and roll the other odd $700 or so into the cap cost

    Thanks
  • lexuslady42lexuslady42 Member Posts: 1
    Hi - I am in the market for an RX 350 with Nav. Im looking for a lease with 12K miles (can do 27 mos or 36 mos). I am trying to negotiate via email to save some time. The best quote I got was for $429 per month and $4,000 down. THis is WAY too high.

    Any tips for negotiating effectively via email? Am I doing something wrong by going through internet sales?
  • lookn4leaselookn4lease Member Posts: 11
    See #2447.
    I got the same car with 15k miles for $410 / mo incl tax, with about $4k in cash and trade-in allowance.
  • lexus350rxlexus350rx Member Posts: 6
    Does anyone have the residual for a RX AWD 36 month 10,000 mile a year lease? and is the MF the same? Thanks in advance for your help.
  • newlexus1newlexus1 Member Posts: 1
    Looking at a 2013 RX 350 with a list of 50,090 , I got a price of 675 a month for 36 months /18K miles a year, is this a good price? This is no money down sign and drive? So paying for only 35 months
  • roxanne1010roxanne1010 Member Posts: 63
    Car_ man or whoever can help,
    Can you give me the money factor and residual value for a lease supported in the "Xmas to remember" event for 10K and either 27 or 36 months, as well as for 12K and 27 or 36 month.
    I want to go with the one with the lowest monthly payment. Also, any rebates or Incentives along with this event on this car? I already own a 2007 RX350 and about to return a Mercedes ML350 AWD, any loyalty or competitor's "capture" rebate;)?
    Finally do you know if in Oklahoma you have to pay taxes at signing or can they be part of the monthly payment? I leased one Mercedes in OK where I paid for taxes at signing but my last lease was bought in MO and then delivered in OK and I didn't pay taxes at signing.
    I always rely on this forum to lease my cars and usually gotten great help so hoping it will happen again. Tried to lease an MB ML350 for the past 2 weeks with no luck in Tulsa and decided to switch to Lexus since they seem to subsidize their leases heavily this time of the year.
    Thanks in advance for the help;)
  • roxanne1010roxanne1010 Member Posts: 63
    Where did you get this deal? Want to be my friend and help me get a good deal too;)
  • jmorsjmors Member Posts: 6
    Car man,

    Could you help me out with some numbers? I'm looking at the 2013 RX350 Sport (with nav), 10k miles/yr 3yr lease. Do you know:
    - money factor I should look for?
    - how much below MSRP should I aim for?
    - do you know the actual invoice on this?
    - what should the residual be?

    Thanks a lot for your help.
  • jmorsjmors Member Posts: 6
    I was just quoted the following and was wondering if anyone had input on these numbers, any room to negotiate? Thanks for any advice.

    2013 RX350 F Sport (with nav/back-up camera) 10k miles/year, 36 months
    MSRP: 52,040
    Price: 50,063
    Residual: 58%
    MF: .00100

    $639/month (including taxes)
    $1,986 due at signing (all fees, no money down)

    Any thoughts/suggestions would be appreciated. Thanks.
  • salinegsalineg Member Posts: 10
    Hi Car Man.

    What are the December to Remember MF and Residual for a RX450h AWD with 12,000 and 15,000 miles for 36 and 48 months?

    Are these numbers the same for a 2012 and 2013?

    I heard there is a $1000 loyalty incentive, is that true?

    Is there an option to buy additional miles up front for a reduced cost (Say get a 12,000 mile lease and buy an extra 1,500 miles per year)

    Given the incentive, I am shooting for $500 under invoice, does that seem obtainable?

    I am in Ohio if that makes a difference, but willing to go anywhere if there are better regional incentives.

    Thanks
  • roxanne1010roxanne1010 Member Posts: 63
    Car_man,
    What are the residual value and money factor for December for leasing an RX350 AWD for 36 months with 10k? How about 12K? What are the rebates or incentives along with the Xmas to remember event? Still $1000 loyalty one? Any other ones?
    Finally, along with this event, how much $K under MSRP would be considered a good deal?
    Thanks :)
  • jim550jim550 Member Posts: 3
    Trying to lease a Lexus Rx 350 in S Florida.
    Working with different dealerships, quote from one of them is as follows:
    MSRP: 49439 ( fully loaded)
    Selling price: 44319
    12 K miles, 36 months
    Downpayment: 2000 ( includes first month payment, tax and tag)
    MOney factor: 0.00100
    Residual: 60%
    Monthly payment of : 480

    Somehow everyones posted prices seem high, I had to post the best I've had so far.

    P.S: this was not RX350 sport.
  • 4tune4tune Member Posts: 55
    Hi guys, please tell me if this is a great?
    2013 RX 350 fully loaded (NAV, comfort pkg, intuitive park assist, premium pkg, remote engine start, wheel locks)

    MSRP 49975
    Net Cap Cost 44400
    Residual 69% for 27 month lease @ 10k miles/yr
    payment 489/month including taxes
    $1325 due @ signing
  • roxanne1010roxanne1010 Member Posts: 63
    Hello Car_man,
    I wanted to know if the residual and money factor are better this month on a 27 month lease than on a 36 month lease for 10K miles/ year?
    And if you lease for 27 months can you extend it to 36 months? Will Lexus let you make the same monthly payments?
    Just let me know what these numbers are so I can start contacting my local dealer, as I like to have the numbers on hand before even starting the negotiations.
    And again, any kind of incentives along with the Winter to remember? Loyalty rebate of $1000 still valid right?
  • roxanne1010roxanne1010 Member Posts: 63
    Hi 4tune,
    I don't know much about the RX leases yet, but this deal seems incredible. Is that on an RX350 AWD?
    The residual value is particularly good. Is that what the official Winter to remember residual value for 27 months or did you negotiate it? What money factor was used?
    I'm looking at a very similar car, just want the comfort package instead of remote start and waiting for someone to post the numbers for the Winter to remember event for both 36 and 27 month. If the 27 month is better i will go with that.
    For what I have read here, you got a good deal :D
    What region did you get this deal?
  • jim550jim550 Member Posts: 3
    Based on numbers in your post...
    Net cap ( 44400) - residual 69% ( 34482.75)= 9918
    9918/ 27 monthly payments= 367.33
    Total interest= 238 ( with money factor at 0.00100 and credit tier one)
    Interest per month for 27 month lease= 9
    Tax at 6% ( depends on ur state)= 27 approximately
    367+27+9= 403 per month.

    Though paying less in down payment, almost 85 more month is 2295 more in 27 months.

    I may be totally wrong here..
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome minirad. Thank you for the kind words. You should be able to roll most of the up-front charges into your vehicle's capitalized cost.

    If the adjustment is the same as the last time that I looked into it, each additional security deposit would lower this vehicle's monthly payment by around $8 or so.

    Since we last spoke, Lexus began waiving the first month's payment on leases of this vehicle, so you don't have to worry about that any more.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi lexus350rx. Lexus Financial Services' November buy rate lease money factor and residual value for a 36-month lease of a 2013 RX 350 AWD with 10,000 miles per year are .00100 and 61% for consumers who qualify for its top credit tier.

    Just a heads up that Lexus is now waiving the first month's payment on leases of this model.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello roxanne1010. Lexus Financial Services' December to Remember buy rate lease money factor and residual value for a 36-month lease of a 2013 RX 350 AWD with 12,000 miles per year are .00100 and 60% for consumers who qualify for its top credit tier.

    The only cash incentive that I am aware of on the 2013 model is the waiver of the first month's lease payment.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jmors. LFS' current buy rate lease money factor and residual value for a 36-month lease of a 2013 RX 350 F-Sport with 10,000 miles per year are .00100 and 58% for consumers who qualify for its top credit tier.

    If I was in the market for this truck right now in an area that has a decent level of competition, I personally would shoot for a selling price of around $500 to $1,000 over invoice. Don't forget that Lexus is waiving the first month's payment right now as well. You can look up this vehicle's invoice price over in the New Vehicle Pricing section of Edmunds.com.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you're looking for salineg. Lexus Financial Services' December to Remember buy rate lease money factor and residual value for a 36-month lease of a 2013 RX 450h AWD with 15,000 miles per year are .00100 and 56% for consumers who qualify for its top credit tier.

    The numbers for an otherwise identical 48-month lease are .00100 and 45%.

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

    There is indeed a $1,000 owner loyalty incentive on leases of this truck right now. There is a waiver of the first month's payment on top of that.

    I don't think that you can purchase additional miles at lease signing on a 12,000 mile per year lease, only one with 15k.

    I'd say that the selling price that you mentioned seems reasonable to me if you're in an area that has a decent level of competition.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi roxanne1010. Lexus Financial Services' December to Remember buy rate lease money factor and residual value for a 36-month lease of a 2013 RX350 AWD with 12,000 miles per year are .00100 and 60% for consumers who qualify for its top credit tier.

    The residual value for a lease with only 10,000 miles per year is 1% higher.

    There is a $1,000 loyalty cash incentive and the waiver of the first month's payment for everyone on this truck right now.

    If I was in the market for this truck right now in an area that has a decent level of competition, I personally would shoot for a selling price of $500 to $1,000 over invoice minus incentives.

    Car_man
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  • 4tune4tune Member Posts: 55
    Yes the lease is on an RX350 AWD. Yes, its the posted residual by Lexus for a 27 month 10k/yr lease. MF used was 0.001. I haven't negotiated anything yet. This deal was offered by the dealer without me saying anything. I don't know what more I can negotiate on this deal.
  • guruunoguruuno Member Posts: 23
    Hello Mr. Car Man,

    I've previously posted, and got no replies.
    Am I doing something wrong to get an answer?
    Looking at this specific post, with these numbers (36-month lease of a 2013 RX 450h AWD with 15,000 miles per year are .00100 and 56%), how do I calculate a price (monthly payment), from any of the numbers I get from a window sticker or a negotiated price under sticker? The formula or method to calculate a number for a payment is?
  • 4tune4tune Member Posts: 55
    This is what I calculated. Can anyone tell me if I am doing this right and why the deal has a $16 difference. Car_man please help.

    Residual= .69 (49995)=34497
    Net Cap=44400
    Depreciation=44400-34997=9903
    Monthly Dep=9903/27=366
    Interest= (34997+44000) X .001 =78
    366 + 79 = 445
    Tax=.0625 X 445 = 28

    Total payment = 366+79+28 = 473
  • roxanne1010roxanne1010 Member Posts: 63
    Thanks Car_man,
    I saw from someone else's possible lease that the residual value for 27 months and 10K miles/year is 69% with the same money factor as all other leases .00100.
    My question is: I hate the whole process of buying a car and would rather not have to do it too often. Since it seems that the numbers right now are giving an advantage to 27 months lease versus 36 months lease (please correct me if I'm wrong, I just see that money value is the same but residual value is higher so monthly payments should be lower), would it make sense for me to do a 27 months lease but then extend it to 36 months once I have reached the 27 months time? I know that some auto maker allow you to extend your lease and keep the monthly payments the same, but I don't know about Lexus? is this even possible? and is it a good idea?
    Thanks
    (About to go test drive "my next car" :blush: and get in touch with the local Lexus dealer, I didn't want to go without all informations in my hands first!)
  • jim550jim550 Member Posts: 3
    I think the formula is under tips and advice for leasing a car. Also, try posts with calculations from others.
  • roxanne1010roxanne1010 Member Posts: 63
    Hi Car_man and everyone else,
    I just want to confirm that the lease I was offered is pretty bad: the car is $50,580 MSRP offered for $48,800 including the $1000 loyalty rebate.
    Monthly payment for 36 months, 10k miles/year are estimated at $629.55 (top tier credit numbers).
    What do you all think? Am I crazy or is this a bad deal?
  • drhurricane36drhurricane36 Member Posts: 6
    Hi Car Man,

    I am looking to lease a 2013 RX 350 with 12k/yr. The negotiated price is $46,761. With the residual of 60% and money factor of .00100 i calculate the lease payment to be $564.01 from leaseguide.com. Is this correct? The dealer and I can't seem to get on the same page. He states he doesn't know where I got the .00100 from as he states that number is not realistic as it's the "buy rate" for them from Lexus. Any help would be appreciated.
    Thanks!
  • roxanne1010roxanne1010 Member Posts: 63
    edited November 2012
    Can anyone tell me if Lexus requires a down payment?if yes, is it $1000? I mean other than taxes and tag? I got a better lease offer and noticed that the dealer put a down payment of $1000 required at closing as well as 1st payment, taxes and tag (no acquisition fee). Then he wrote that 1st payment is paid by Lexus and $1000 down payment is paid byt the loyalty rebate. That seems very legit to me, just want to know if it's correct.
    He's giving me a better price but not on the color I wanted. If I settle for silver RX350 AWD MSRP of 49,065 he's telling me he will sell it for $500 above invoice. However, his number for $500 above invoice don't add up, as he's giving me a price of $46,700 instead of 46,381 (I calculated the invoice at 45,881). I called him on it and waiting to hear back.
    Please advice me if it's a good deal this time like I believe.
  • salinegsalineg Member Posts: 10
    Maybe my numbers are wrong, but that appears to be the price for a 12,000 lease if your tax is 6.5%

    Yes, in my opinion, it is a bad deal. TruMarket value is listed at around a 48,400 selling price and I don't think that would include your loyalty credit. I would shoot for invoice with the credit (Somewhere around 47,300). That would bring your payment down to around $582. That's a big difference
  • guruunoguruuno Member Posts: 23
    I too, need some sort of 'proof' or 'validation' for the rates, as I'm seemingly getting blown off by the salesperson(s), and I'd like to make this a December to Remember, but I need my ammunition to win the battle (which I feel it should not have to be a battle at all).
  • roxanne1010roxanne1010 Member Posts: 63
    Well, I contacted the dealer regarding the small discrepancy regarding the number he gave me compared to invoice available on Edmunds. He said that he wasn't talking about $500 above invoice but above his charges (prepping car, cleaning car...). So the deal I got is really $832 above invoice. Before applying the $1000 loyalty discount. It still seems like a fair deal to me, especially since Tulsa isn't a very competitive area and Lexus is really popular here, especially the R350.
    Disappointed I won't get the white, and even more important, the nice light parchment interior, instead got light grey. But don't think I can say no to this deal.
    Advice?
  • djeter13djeter13 Member Posts: 9
    Car man,

    I am a newbie and need your help. I know the quote I got for a 36 month lease is bad, but what should it be and what are the key numbers (ie. dealer invoice, money factor, residual %, etc) I need to get through to the dealer and prove its too high?

    The car has MSRP of $52,184 (which includes $895 of delivery & handling) and 10,000 miles. For 36 month lease I was quoted $638/mo with $0 down but $3,950 COD for taxes, registration, title, first month, and bank fee.

    Please help me out. Thanks!
  • kartoonkartoon Member Posts: 5
    Dear Car Man,

    I have just started making calls to lease a RX350.I spoke to LFS today about residual rates for 27 and 36 month leases.They told me they do not set the rates,and that the dealer does that.
    The dealer told me the opposite,that LFS sets it and they have no control over it. What's your experience?

    I see you have posted a.61 residual for tier 1 credit at 36 months 12K........I was curious about the higher rates in earlier posts (68%) for 27 months 10K...........are they real?

    I'd appreciate any feedback from you or anyone else that may know.
    Thanks
  • ans9806ans9806 Member Posts: 12
    Car Man,

    Can you tell me what fees Lexus is asking for on this car to drive it off the lot? I'm helping negotiate for a friend. Having just negotiated on a BMW X5 for myself, I know there are markups on the bank fee and doc fee. Are there similar markups on Lexus fees? Just want to be sure I've got all the profit centers figured out so I know where to negotiate.

    Thanks!
  • dealnodealdealnodeal Member Posts: 3
    edited December 2012
    Great information on this forum. I am interested in the RX AWD MSRP $46,780
    I did not lease a car before and I am not sure how the math works yet. The LFS deal now is almost 4k down and $429/month for 27 month. I was thinking to negotiate my way out of this down payment and pay taxes, reg and fees out of pocket which will come out to about $1,750 ($700 bank fee + $339 doc fee) Do you think it would be possible? would you consider it to be a good deal?
    Am i better off negotiating the price where I can probably get it for around 41k? what would be my payment then with 6% tax for 27 month 10k miles?
    I read on other posts that the residual value is 68% money factor 00.00100 for the 27 month. Would it hurt if I decided to buy the car at the end of the lease?

    Thank you
  • rickyeee1rickyeee1 Member Posts: 13
    I went to lexus dealer south florida miami beach
    interested in lexus rx 350 with appearance package
    msrp 48684 dealer said will sell for 44.884
    want 24 month lease with 15000 miles a year
    tier 1 credit
    what should i pay
    please help
    dont want to get ripped off
  • tbone6964tbone6964 Member Posts: 7
    Just leased a Lexus RX350 on Nov 30. Here's the deal.

    MSRP - $48,494
    Negotiated Price - $43,095
    Upside down on trade in - $1,519
    Residual - 61%
    MF - 0.0009
    Monthly payment w/o tax - $504.45
    No money out the door (dealer paid first payment, registration, tax, etc.)
  • guruunoguruuno Member Posts: 23
    Offered (by dealer):

    Turn in 2011 RX450h now (Dec. '12), 12 months early, no penalty, existing lease was $599/mo. w/15k miles per year, mileage is just now 30k.
    Get 2013 RX450h, list $56k, offered at $53k (inclusive of $1,000 'Dealer Certificate' + $1,000 Lexus 'incentive', 1st mo. payment waived, taxes and fees at $3,006.50, 33 months, 12k miles per year, same $599/mo. payment.

    Question (by me):

    Is this the 'deal of deals' or can I push harder for a better deal? I was hoping for more off of list, or am I pushing it? Can make the deal Wednesday evening, if I want, but want to get a feel for the facts from here. Anyone?
  • rickyeee1rickyeee1 Member Posts: 13
    which lexus dealer did you get that
    was that a 24 month lease
  • djeter13djeter13 Member Posts: 9
    For those of you in the NY Metro Area, this is the deal i was able to negotiate:

    MSRP - $49,474
    $2,000.00 drive-off
    $495.00/mo
    36 months/10,000 miles
  • highfidelityhighfidelity Member Posts: 24
    Just leased my fourth RX here in Northern California...

    MSRP: $50139
    Negotiated: $45139
    Residual: 58% (36 months, 15k)
    MF: 0.0010
    $1000 loyalty incentive
    $1000 holiday certificates (wasn't expecting these)
    1st payment covered
    $0 drive-off, sign and drive
    $543.23 a month (w/tax) (35 payments remaining)

    I have seen lower negotiated prices, but I am pretty satisfied with the deal. It is $34 less a month than my previous 2010 RX350 (36 months, 12k miles), with nothing out of pocket and first month covered. They bought the 2010 RX350, for its payoff, which avoided any lease turn-in hassles.

    Only thing that I was not happy about, was that a disposition fee of $350 was added, which I couldn't get them to remove. Apparently this is something new being required by LFS, started in January 2011 (first I am hearing of it). They did confirm through LFS that the fee is waived if you buy or lease another Lexus, or if the vehicle is purchased.

    Thanks to Car_Man and those who have posted there deals, it helped me immensely.
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