Edmunds dealer partner, Bayway Leasing, is now offering transparent lease deals via these forums. Click here to see the latest vehicles!

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

12357…55

Comments

  • jmcmbzjmcmbz Member Posts: 43
    PS: the dealer added chrome wheels to this deal without any changes to the terms. Can anyone conifirm the 55% residual? We are getting the car tomorrow so I hope this is all good.

    MSRP $44,123
    Sell Price $38,764
    36 month lease term
    15K miles per yr.
    Total due at lease signing $1,560.77
    (includes 1st payment, DMV and $600 bank-fee)
    Residual (55%) $24,267.65
    Money Factor .001750 (w/ No Security Deposit)
    Mo Payment incl. 8.25% Tax $555.31
  • sdanisdani Member Posts: 10
    This is my deal in NJ.

    Base MSRP* $38,800.00
    • Standard Features
    Available Packages $3,538.00
    • Premium Plus Package - Luxury Value Edition with Additional Options
    Delivery, Processing & Handling Fee† $695.00

    Total MSRP** $43,033.00

    We agreed for $39,000.
    Bank Fee $600
    Documentation $199
    MF - .00085
    MSD - 525*9=4725
    DMV - $262
    36 months
    15 K Miles a year
    Residual = 56%

    Lexus credit card points to buy a new car = 50,000.
    Lexus credit card points to make 5,000 payment to dealer = 25,000.

    So this deal gives me $750 on my Lexus credit card, which I should be able to spend during my lease period for any service.

    I used Lease Calculator on Internet - which gives me a payment of 500 a month, but dealers lease calculator calculated 503 a month.

    I finalized the deal in a 3 minute phone call. He quoted me 39200 + 199 documentation. I offered 39000 and he agreed.

    Two new things that I learnt, which I did not learn from past few days of reading this forum:
    1. The dealer's calculators are different from Internet calculators :)
    2. MSD's have to be rounded up to the next 25, so for my 503 lease - they rounded it up to 525.

    Hope I have covered all the info that anyone else may be interested to find.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings sdani. Through September 4th, Lexus Financial Services' buy rate lease money factor and residual value for a 36 month lease the 2007 RX 350 AWD without the entertainment system with 12,000 miles per year are .00175 and 59%, respectively for consumers who qualify for its "Tier 1+" credit tier.

    I completely agree that you should not pay a $2,500 down payment on a lease of this truck. Let's recalculate its lease payment with no money down and see what we come up with. According to my calculations, if you were to lease a 2007 Lexus RX 350 AWD without the entertainment system with an MSRP of $43,033 and a selling price of $39,723 through Lexus Financial Services right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $513.

    Now let's take a look at the fees that this dealer is trying to charge you. Lexus Financial Services charges an acquisition fee of $600 on every vehicle that it leases. This charge is not negotiable. It is difficult for me to say what the motor vehicle fee should be in your area, but you should have to pay something for this item. The window etch is basically worthless and I personally would not pay for it if I was in your situation. The doc fee is really nothing more than a way for the dealer to add additional profit to your deal. Most dealers try to add doc fees to deals. If you are happy with this car's total price, including the doc fee, it doesn't really matter how it breaks down.

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi sxylxy. Vehicles' residual values are set by the bank that you are leasing through. The residual value that you were originally quoted over the phone should not have changed. The dealer that initially quoted you it must have either made a mistake or Lexus' lease program must have changed between the time that you were originally quoted a lease over the phone and you went into the dealer.

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the info that you are looking for, jsmil4901. Through September 4th, Lexus Financial Services' buy rate lease money factor and residual value for a 36 month lease of a 2007 RX 350 AWD without the entertainment system with 15,000 miles per year are .00175 and 57%, respectively.

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congratulations on your new truck, amcar. Thanks for taking the time to share the details of your lease with everyone. Enjoy!

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi aggieque. You are probably going to end up paying way more than you should for your new truck if you get out of your current lease eight months early. You would be better off waiting until you are closer to the scheduled end of your current lease to get a new vehicle.

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello drewman8. I can give you an idea of what this truck's current lease program is like. This information will enable you to make sure that the dealer that you are working with is not trying to mark your vehicle's money factor up to add additional back-end profit to your deal. Through September 4th, Lexus Financial Services' buy rate lease money factor and residual value for a lease of a 2007 Lexus RX 350 AWD without the entertainment system with 15,000 miles per year are .00175 and 57%, respectively. Make sure that this is the money factor that the dealer you are working with is using to calculate your truck's monthly payment. You also may want to stop by the following discussion to compare the price that you were quoted to the prices that other community members have paid for similar vehicles lately: jstempel, "Lexus RX 330 / RX 350: Prices Paid & Buying Experience" #, 24 Jun 2003 3:31 pm.

    Car_man
    Host
    Prices Paid Forum
  • nhraguynhraguy Member Posts: 2
    Deal looks like this here in NJ. 07 RX350 awd,premium plus with nav.package & towing prep. Forgot the exact selling price, but believe it was little over $3000 off msrp. Here's the rest of the numbers.

    MSRP $ 45,683
    Resid. 58%
    MF .00175
    Dn Pmt. $2,500
    Security 0
    Bank Fee 600.00

    Monthly Lease pmt. $479.00 + tax.

    Any thoughts?? Last day of sale tommorrow, was going to go to another dealer and see if they can better it any, but have my doubts since this is a factory program.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, ebg. Congratulations on your new truck. Thanks for taking the time to stop back and let us all know how everything turned out. Enjoy your new ride!

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jmcmbz. The truck that you described probably has a spread of around $5,300 between its full MSRP and dealer invoice price. You were quoted a discount of right around that amount, so I suspect that you are at right around dealer invoice. This is a good price for a lease of an '07 RX 330. Through September 4th, Lexus Financial Services' current residual value for a 36 month lease of an '07 RX 330 FWD with the entertainment system option is 54%. This residual value is set by LFS and individual dealers do not have the authority to alter it. This truck's 12,000 mile per year residual value is 56%. The money factor that you were quoted for this is right in line with LFS' current buy rate for a 36 month lease of this truck for consumers who qualify for its "Tier 1+" credit tier.

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi sunny5117. Through September 4th .00175 is the correct money factor for a supported lease of a 2007 RX 330. "MSD" stands for Multiple Security Deposits. Through this program, lessees can make additional security deposits on their vehicles. Each additional deposit lowers the money factor that is used to calculate their monthly payment by .00010. A maximum of nine additional deposits can be made can be made. This program is available in every state but New York.

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congratulations on your new truck, sdani. Thanks for taking the time to share the details of your lease with everyone. Enjoy!

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi nhraguy. This truck's money factor is supported by Lexus and cannot get any lower than the factor that you mentioned, but its MSRP is negotiable. I believe that the truck that you described has a spread of around $5,100 between its full MSRP and dealer invoice price. A $3,000 discount on it isn't bad, but in an area that has a lot of competition, like the NY metro area does, I would not be surprised if you were able to beat this deal by shopping around a little bit. Have you comparison shopped with a couple of dealers. It wouldn't hurt.

    Car_man
    Host
    Prices Paid Forum
  • element3element3 Member Posts: 2
    Hi,
    I'm looking to lease the RX 400h and I want to make sure I ask the right questions to calculate my lease. Are all these points available for disclosure by the dealer? Are there other questions I should ask? Thanks

    Money Factor
    Residual
    Lease Inception Charge
    Lease APR

    I'm looking to lease for 36-40 months at 12,000 miles a year at a Teir 1+ level.

    Any insight would be great, thanks alot!
  • prof_daveprof_dave Member Posts: 2
    Hello

    I'm sure you must get this alot, but I am trying to negotiate a lease with a couple of dealers. I'm in the Mid-Atlantic region. Here is my current best deal, and I wanted to know what you thought about it and if I can make improvements.

    This is for a 2007 RX350 Premium Package ( No Nav ) AWD

    Lease is $400 / Month
    36 Months
    12,000 / year

    Cash to bring in

    $2,500
    $325 for something, can't remember
    $400 for security deposit
    $400 for 1st month lease
    $1,300 for tax
    $600 for bank fee

    what do you think and where can I make improvements?

    Dave
  • sdanisdani Member Posts: 10
    Dave,

    Do some reading about leasing. Also read this one: http://www.edmunds.com/advice/leasing/articles/48365/article.html

    By paying 2500 down as captial cost reduction, you are not really going to gain much. You can try changing the classification of that 2500 to "Multiple Security Deposits" instead of Capital cost reduction and that should reduce total cost of your lease.

    Paying all 1300 tax at the time of signing is also not a good idea. If you have that money to pay upfront, asks them to treat that also towards "Multiple Security Deposits".

    Bottomline - Don't just look at your Monthly payment. The numbers that you should be looking at are the following:

    1. MSRP of the truck.
    2. Selling price that you negotiated with the dealer (read what others are paying on this forum).
    3. Money Factor of the lease (with and without multiple security deposits, i.e. get both numbers from the dealer)
    4. Residual value after 3 years.
    5. Any other fees that dealer is asking at the time of signing.

    Once you have these 5 numbers, post them here and someone can suggest you if you are getting a good deal or not.

    Thanks
  • djdezdjdez Member Posts: 110
    Hello ...

    I was told that on the '07 RX 350 AWD, that on a 36mo/12k year lease, the residual is 58% and the money factor was .00155 for the month of September. Now, Car_Man had posted it as being .00175 UP to the end of the summer event on September 4th ...

    So, does anyone know what the CURRENT money factor would be, as of TODAY for the rest of September, and beyond ? I'm seeing .00175 and that's what one of the dealers told me, but I also have .00155 from another very trusted source.

    Thanks in advance !!!
  • xando05xando05 Member Posts: 42
    MSRP=44100
    Selling Price= 38,564
    Money factor= Salesman didn't know
    Residual= 24,267
    Drive off cost= 1599(including bank fee/DMV fee/Title
    monthly fee= 544.77+42.22(tax)= 586.99

    FICA Score=763

    Is this a good deal?
  • markishmarkish Member Posts: 11
    According to my calculations, if you were to lease a 2007 Lexus RX 350 AWD... with an MSRP of $43,033 and a selling price of $39,723 through Lexus Financial Services right now for 36 months with 12,000 miles per year, your zero down, pre-tax monthly payment should be around $513.

    Car_man:

    Hi, first time post. I had a question on your calculation because I first couldn't get the same number you came out with. But I figured it out. My calculation is as follows:

    MSRP: $43,033
    Price: $39,723
    Residual: $25,389.47 (MSRP x 59%)
    MF: 0.00175

    Depreciation = Price - Residual
    = $39,723 - $25,389.47 = $14,333.53
    Depreciation/month = $14,333.53 / 36 = $398.15

    Rent = (Price + Residual) x MF
    = ($39,723.00 + $25,389.47) x 0.00175
    = $113.95

    Monthly payment = Depreciation/month + Rent
    = $398.15 + $113.95
    = $512.10/month
  • val3ntin3sval3ntin3s Member Posts: 1
    I currently have a 03' ES300 lease that will expire in April of next year and is currently thinking about leasing the ES350 or the RX350. My question is does anyone know what the base rates for following on the RX350 are?

    Invoice of car (Is it $34,338?)
    Money Factor
    Bank Fee (aquisition fee)
    Return fee?
    Any training fees?
    MACO fees?
    residuals for 3 and 4 year lease?

    Any help would be much appreciated. Thanks in Advance!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    HI element3. The two main numbers that you should focus on when negotiating a lease on this truck are its selling price and its money factor. These are the two main profit centers for dealers on leased vehicles. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Negotiate a low a selling price as possible on the truck that you want and then have the dealer that you are working with calculate its monthly payment using Lexus Financial Services' buy rate lease money factor. It is important to insist that they use the buy rate because dealers are allowed to "mark-up" vehicles money factors to add additional back-end profit to deals. I believe that LFS' current buy rate for a 36 month lease of a 2006 RX 400h is .00190 for consumers who qualify for its "Tier 1+" credit tier.

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings prof_dave. You never mentioned the selling price or MSRP of the RX 400h that you are interested in leasing. These are important numbers for you as a consumer to know for two reasons. First, the selling prices of leased vehicles can be negotiated, just as if you were paying cash for them. Without knowing this truck's selling price in relation to its MSRP you don't know how much of a discount you are getting on it. The second reason is that one needs the selling price and MSRP, including the destination charge, of a vehicle to calculate its lease payment. I would be more than happy to give you my opinion of this deal if you let me know what these numbers are.

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey djdez. According to the latest information that I have see, Lexus Financial Services' current buy rate lease money factor for the 2007 RX 350 AWD is .00175. Where did you hear that it is lower than that?

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi xando05. If I am not mistaken, the selling price that you were quoted for this truck appears to be below dealer invoice. That is a very good deal. Just make sure that the dealer you are working with uses the '07 RX 350's buy rate lease money factor of .00175 to calculate your vehicle's monthly payment and you're in business.

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome aboard markish. I also came up with $512.10 per month, but I usually just round up payments to the nearest whole dollar amount when posting them in the forums.

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi val3ntin3s. It is likely going to be fairly expensive for you to get out of your ES 300 lease now if it is not scheduled to expire until April of next year. If I was in your situation, I would wait until I was closer to the scheduled end date of my current lease to get something new. If were to lease a base 2007 RX 350 AWD through Lexus Financial Services right now for 36 months with 15,000 miles per year, its buy rate lease money factor and residual value would be .00175 and 56%, respectively assuming that you qualify for its "Tier 1+" credit tier. The numbers for an otherwise identical 48 month lease should be .00175 and 47%. LFS base lease acquisition fee is currently $600. I don't believe that it charges a disposition fee.

    Car_man
    Host
    Prices Paid Forum
  • mxv2003mxv2003 Member Posts: 2
    Thanks Car_Man. Great service your performing and best site I've seen on the web so far.

    Is this a good offer?

    2007 RX350 AWD w/ NAV
    MSRP $45683
    Sell price $40450
    MF .00185
    Residual 58%
    12K lease/36mons
    Monthly $501.75
    Tax upfront(7%) $1320.06
    Due at signing: $2898.51

    The Money Factor from LFS on this board is .00175, but the dealer is quoting .00185 for LFS. The numbers don't add up when I plug into my lease calculator. $501.75 sounds too low.

    I'll be heading into the lion's den tonight so if anyone has any advice, please post ASAP.

    Thanks.
    -mxv2003
  • mxv2003mxv2003 Member Posts: 2
    Ok. I got the following deal

    MSRP $45683
    Base Cap $40353
    MF .00175
    Residual %58
    12K/36Mo
    Monthly $501.75
    Due at Signing $2898 (includes tax,1st mon, Bank fee(I know), MV fees.
  • jack1963jack1963 Member Posts: 15
    Hi.

    My local Lexus dealer gave me the following figures for a 2007 RX350 FWD, premium plus, navigation, heated seats, 18-inch tires:

    MSRP: $44,306
    Sell Price: $42,100 +TTL = $45,030
    36 month/12K lease
    Monthly choices: $780 with $0 down, 1st month due at signing; or $699 with $2641 down plus 1st month's payment

    No other details were given (MF, residual). This seems way off from the other lease offers I am seeing here.

    Can someone help me figure out what is going on with this deal??

    Thanks!
  • prof_daveprof_dave Member Posts: 2
    What is wrong with that is the sell price. people have been getting 41,200 or even lower.

    the formula is pretty simple

    Take the sell price + residual factor ( in your case 58% of the MSRP) then times that by the money factor .00175 if you have Tier 1+ credit (about a 730 or higher) if you have Tier 1 then you use a money factor of .00185.

    Ok, you take that number then

    take the sell price minus the residual factor divided by 36

    add the two numbers together and then you have your lease basic cost.

    If you say put 2500 down, you are basically subtracted from sell price. so if it was 42,000 for example, now you put in 39,500.

    So, the sale price will dictate a lot.

    it took me 5 or 6 dealers to finally get a price that I liked.
  • jack1963jack1963 Member Posts: 15
    Thanks for the quick reply and good info.

    Am I doing something wrong with the math? I come up with about $571 as a monthly payment with $0 down (based on the figures given) rather than $780 using Tier 1+ credit.

    If I am figuring it right, my Lexus dealer would seem to be making a nice profit on such a deal.

    Thanks again!
  • cknodlecknodle Member Posts: 4
    Working on Leasing a new 2007 RX350...FWD, Premium+, NAV
    MSRP: 44,125
    3Yr/15K
    Residual: 57%
    MF: 1.2% (I didn't understand what this meant)

    Went to the dealership, found the car, and tried to negotiate with the dealer, but he said he would not negotiate the purchase price of a leased vehicle. I then got an email from him reiterating his stance (added below). Looking for 1) How to respond 2) what a good target for negotiating price would be 3) what 1.2% meant for the money factor.
    Thanks for any help....chad

    Email from dealer
    ----------------------------------
    Good morning Chad,

    I thank you for your correspondenceand hope you had a nice weekend.

    I am a bit confused on your intent because leasing is all about payment becuase you are not purchasing the vehicle, the bank is.
  • dannylydannyly Member Posts: 14
    I just leased my RX350 FWD Premium with Navi in Miami.
    Here's the deal I got over the internet.

    MSRP: $44,125
    Cap cost: $39,500
    Residual: 57%
    MF: .00175
    Terms: 36mo/12K
    Lease: $539/mo with $800 inception cost

    I don't know if it was a good deal but that's the best I found down here in south Florida. I just wanted to post my numbers because it helped so much reading this thread. Is the calculations correct. For some reason when I did it, it was different from the Lexus finance guy (on his computer).

    Dan
  • zigthiszigthis Member Posts: 1
    Hi CarMan, group!

    How does this deal look:
    RX350 w/ Premium, NAV
    MSRP: $45,683
    Cap cost: $42,183 (Discounted $3,500 off list)
    Residual: 48% (is this right?)
    MF: .00175
    Term: 48mo/12K
    Lease: $534/mo. + Tax/Fees/First-Month up-front.

    I can't help but think they can do better on the sale price, but they tend to sell fast inside the beltway. Also, How does the Totyota/Lexus MSD program work? The salesman was reluctant to explain the details ("..it won't make much of a difference"). How many deposits can I make?

    I calculated five MSDs (at $550/mo.) to be $2,750 deposited, which (at .00010 each) would bring the MF down to .00125 and my payment down to $502 (Goal!). Making 14% a year by letting them hold $2,750 sounds good to me...
  • cknodlecknodle Member Posts: 4
    Maybe someone can help us both out...what I get is:
    Residual: 44,125 * .57 = 25151.25

    (39500 - 25151.25)/36 = 343.02
    (39500 + 25151.25) * .00157 = 109.64
    -------------------------------------
    452.66

    Of course this is not including any TTL, but how can I be that far off? Can someone please correct me?

    Chad
  • kyfdxkyfdx Moderator Posts: 236,830
    Assuming $39,500 is just the selling price, and not the total cap cost, since he only has $900 OOP, you might have:

    Acquisition fee $20/mo.
    Dealer fee (padding) $15/mo.
    Money factor (.00175, not .00157) $5/mo.
    Tax $35/mo.

    That just about does it.... When you are only amortizing extra costs over 36 months, it adds up fast..

    Edmunds Price Checker
    Edmunds Lease Calculator
    Did you get a good deal? Be sure to come back and share!

    Edmunds Moderator

  • dannylydannyly Member Posts: 14
    Sorry KYFDX,

    I don't get the calculations. Do you always have to pay acquisition? I got them to get rid of the dealer fee.

    Thanks,
    Danny
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, mxv2003. Lexus Financial Services' new October buy rate lease money factor for the 2007 RX 350 is .00163 for consumers who qualify for its Tier 1+ credit tier. Make sure to have the dealer you are working with use this factor to calculate your truck's monthly payment. The selling price that you were quoted for this truck appears to be very close to dealer invoice, which is an excellent deal.

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congratulations on your new truck, mxv2003. You got an outstanding deal. Enjoy!

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jack1963. The truck that you described has a spread of around $5,000 between its MSRP and dealer invoice price. You were quoted a discount of around $2,200 on it. I have seen other community members get better prices than this. Try stopping by the following discussion to see how much others have paid for similar trucks: "Lexus RX 330 / RX 350: Prices Paid & Buying Experience". When you arrive at an attractive selling price, make sure to have the dealer that you are working with calculate your vehicle's monthly payment using its buy rate lease money factor. Lexus Financial Services' current special buy rate for a 36 month lease of a 2007 RX 350 is .00163 for consumers who qualify for its Tier 1+ credit tier.

    Car_man
    Host
    Prices Paid Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Danny. Lexus Financial Services charges an acquisition fee of $600 on every vehicle that it leases. Individual dealers do not have the authority to waive this fee. You can either pay it at lease signing or have it rolled into your truck's capitalized cost.

    Car_man
    Host
    Prices Paid Forum
  • sender1sender1 Member Posts: 43
    Hi, I negotiated a price on a 2007 RX350 with NAV etc for $40250. MSRP is $45705. I then had the salesman figure out the lease cost based on 36 months, 12,000 miles, no $ down (aside from taxes, 1st month, motor vehicle fees etc). He based this on a factor of .00163 and 57% residual. The number he came up with was $551.18 a month. I tried myself with the numbers a few times and I got $503. Any help would be appreciated as I am ready to make this deal. Thanks so much
  • genelecgenelec Member Posts: 1
    Armed with advice from this useful forum, I made a deal in the Los Angeles area for a RX 350, FWD, Prem. Plus, and Nav.
    Car price was $37,785, and the lease was 36 months/12k, 58% resid., and money factor
    of .00163 (I qualify). All was agreed to very clearly, in writing, via email. When I went
    to buy the car this morning they refused to honor the lease deal--56% and .00197.
    They said I had to prove that I could get that deal from another dealer, which was
    never a condition of the deal. So I walked, and they let me go.

    Any advice on how to proceed? What are the ethics in a situation like this.
  • maximafanmaximafan Member Posts: 592
    wactedout, have you checked with some other
    Lexus dealers nearby? I'm not too sure if this is a good deal, but then again I don't know what options you have on the car. At least try to get a comparison quote of some kind from another dealer just for a little more peace of mind. Good luck!!!
  • darballman1darballman1 Member Posts: 55
    I just received a e mail alert from my sales person at Newport Lexus stating that Lexus has just come out with a special lease program on the RX350. I haven't called him yet. Anyone know about this new lease program ?
  • brgbrg Member Posts: 3
    From: "Guhl"
    To:
    Subject: Lease, NJ, 2007 Lexus 350 AWD
    Date: Tuesday, November 07, 2006 10:15 AM

    My Highlander lease is up end of December........have decided on the Lexus 350 to lease from Livingston, NJ Lexus dealer. Offering: $2500 down/$449.00 per month........I plan to ask for bump up to 15,000 per year.......no navigation but premium package/Level 2?........may get heated front seats.
    Q: Is this about the best range for December leasing deals?
    Q: Will be away close to 25th. of December so......planning on turning Highlander in early and getting Lexus so that I am not without a car after 1st. Jan. Is there a good way to handle this switch over?
    Thanks for any advice.
    Cheers,
    BRG :confuse: :)
  • jakpennjakpenn Member Posts: 20
    Looking to lease, but know Lexus always runs a holiday program...Anyone Know details? Will savings be significant bases on previous years programs? Does it usually start around Thanksgiving? Thanks
  • darballman1darballman1 Member Posts: 55
    See message # 254. I don't know what the lease rate is though. The salesperson hasn't gotten back to me yet.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi sender1. The money factor that you were quoted is right in line with Lexus Financial Services' current buy rate for it. This is a good thing because it means that the dealer you are working with is not trying to mark your vehicle's money factor up to add additional hidden profit to your deal. Using an MSRP of $45,705, a selling price of $40,250, a money factor of .00163, and a residual value of 57%, I estimate that this truck's zero down, pre-tax monthly payment should be around $503, just like you came up with. It's tough to say why the payment that the dealer quoted you is higher. One possibility is that it includes sales tax. The dealer may have also rolled Lexus Financial Services' $600 acquisition fee into your truck's cap cost instead of charging you it at lease signing.

    Car_man
    Host
    Prices Paid Forum
This discussion has been closed.

Helpful Tools

Most popular vehicles