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

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  • ans9806ans9806 Member Posts: 12
    Curious about your negotiated price, because it appears to be below invoice. This was before incentives were added? If so, what justification did you (and others who have also been negotiating) have for offering below invoice? Are there manufacturer to dealer incentives out there? How far below invoice do you suggest going? Thanks to anyone who has info.
  • highfidelityhighfidelity Member Posts: 24
    If you look through the history in this thread, most people are getting around $5k off MSRP, in retrospect, perhaps it was the best deal I was gonna do. This was before incentives. As to how I did it, no clue, guess I got the right motivated non-stereotypical salesman. Plus I made it clear up front that I knew exactly what went into determining a lease price and that I had a good idea about what I expected to pay, based on info found on the internet.
  • zzooioozzzzooioozz Member Posts: 9
    MF and residual on 2013 RX350 are dead on! .00100 and 61% for 10k m/y With all incentives and rebate and all that, I was offered $580 with 0 down 1st month waived, tax included on MSRP 49750 Nav and HID, Is this a good deal? or I should haggle more? :shades:
  • kartoonkartoon Member Posts: 5
    probably a little haggle room
    I found one at 48,135 MSRP
    selling price 43440
    customer loyalty 1,000
    Holiday certificate 1,000
    1st month added in
    1,000 drive off
    440 before tax 27 months
  • dinomandinoman Member Posts: 68
    Can you post the MF and residual. How man miles per year? What dealership? Thanks.
  • zzooioozzzzooioozz Member Posts: 9
    wow that's amazing deal and even nice 27month lease, pleas post where you get that quote from :blush:
  • dallatexdallatex Member Posts: 4
    Car Man, I've read through all your prior posts, but didn't see the current December residual value for a 15k lease on a 2013 RX350 FWD. I see Highfidelity had a 58% rv, but am not clear if his vehicle is FWD or AWD. Can you post the current lease residual and money factor for a 15k lease on a standard FWD RX350? Thanks.
  • tbone6964tbone6964 Member Posts: 7
    Newport Lexus in Southern California. 36 month lease.
  • delnoledelnole Member Posts: 36
    Hi Car man,

    I don't think I've seen the December lease rates for a RX350 AWD for 36 months/12000 miles. Can you provide?

    Thanks
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome djeter13. Lexus Financial Services' 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.

    You can look up this vehicle's exact dealer 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
    Hi kartoon. What you were told by LFS about dealers setting rates is not exactly correct, but not surprising. Lexus itself sets the residual values for all vehicles and individual dealers cannot alter them. It also sets the lowest possible money factors aka buy rates for the vehicles that it leases. Where the partial truth of what you were told by LFS comes in is that dealers are usually allowed to mark up vehicles' money factors to add additional hidden, back-end profit to deals.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi ans9806. Lexus Financial Services charges a $700 acquisition fee on every vehicle that it leases. Lessees can either pay this charge at lease signing or roll it into their vehicle's capitalized cost to make it part of their monthly payment.

    Doc fees are not mandated by manufacturers. They are set by dealers and aren't anything more than a way for them to pad deals, or cover their expenses, depending upon how you look at them. With doc fees, the lower the better and they should be looked at as part of the vehicle's selling price.

    Also, make sure to keep an eye on the money factor that the dealer is using to calculate your or your friend's lease payment. Dealers, particularly luxury dealers, often mark up vehicles' buy rates to add additional, hidden back-end profit to deals.

    Besides the money factor, the other major profit center on leases is of course the vehicle's selling price.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi dallatex. Lexus Financial Services' December to Remember buy rate lease money factor and residual value for a 36-month lease of a 2013 RX 350 FWD without the Luxury package with 15,000 miles per year are .00100 and 58% for consumers who qualify for its Tier 1+ credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you're looking for delnole. Lexus Financial Services' December to Remember buy rate lease money factor and residual value for a 36-month lease of a 2013 Lexus RX 350 AWD with 12,000 miles per year are .00100 and 58% for consumers who qualify for its top aka Tier 1+ credit tier.

    Car_man
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  • kartoonkartoon Member Posts: 5
    Hi Car Man,

    You are so right on that.LFS basically told me that they just service the leases and the dealer can sell the car for whatever they want.The deal I ended up with came out with a money factor at .00111(that's my math,not sure how they found that number),and a residual of 69% for 27 months at 10K.There's a lot of competition in southern Cal and some good internet managers who are willing to deal this month. This is my 3rd RX..and they just keep getting better every year.Much better drive,(especially turning radius) with more options.Premium pkg now comes with blind spot detection, and Nav system has been upgraded considerably.To get a luxury SUV like this RX for under 500/mo with tax is great.
    Thanks for your feedback, all your previous posts certainly helped in my research.
  • delnoledelnole Member Posts: 36
    Hi Car man,

    Has the residual on a RX350 AWD lease for 36 months/12000 miles gone down to 58% in December? In a November post you had indicated it was a 60% residual as part of December to Remember.

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

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Good catch, delnole. 58% is LFS' published residual value for leases with 15,000 miles per year. I should have added 2% to that, raising it to 60%. The residual values remain unchanged. Sorry for the confusion.

    Car_man
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  • salinegsalineg Member Posts: 10
    Closing on this deal:

    Rx 350AWD w/ Nav and comfort pkg, premium pkg blind spot,parking assist, accessories.

    MSRP 49,565
    Sale price 46,510 (350 under invoice)

    On top of that, I am getting $1000 closing certificate and $1000 loyalty (so 44,510 after applying those)

    36 month lease at .001 mf / 58% res
    Fees: approx 1075 (doc/plate/title/lexus finance fee)

    I think it should be around 575/month, but it seems to be a little higher for some reason.
    Should the closing certificate and loyalty come off before tax or after?

    On a one time lease, are we still eligible for the first month paid by lexus?

    Thoughts on this deal?
  • dealnodealdealnodeal Member Posts: 3
    Carman,

    First thank you so much for all the valuable info everyone shares here.
    I closed on a lease deal yesterday.

    2013 RX 350 AWD premium package, luxury pckg with blind spot. My paper work says:
    Msrp $46, 950
    Gross cap cost $43, 017
    Adjusted cap cost $41059 (price after rebates and negotiations)
    Monthly pmt: $429 for 27 month 10k mile/year
    $2500 out of pocket (taxes,reg, fees etc.)

    Is that a good deal? The residual is 69% would it be a bad idea to buy at the end of the lease?
    Also my car came with 2 remote keys only. The manual shows a card key and also a key number plate (small metal thing with the code to the key). Did you get anything other than the 2 remote keys?

    Thank you in advance
  • ken954ken954 Member Posts: 13
    Trying to work an end-of-the year deal, been considering the RX350. Below is what my local dealer claims is his 'best offer' - any suggestions on whether this is reasonable or how hard I should push? Compared to other posts I've seen, I'm ready to walk - but I also realize I'm not eligible for the loyalty discount and haven't received any of the $1,000 coupons and other incentives others have mentioned.

    The MSRP is $50,424.00, sales price is $47,866.00 (dealer invoice is ~$46,832). 36 months, 12K / year, 58% residual. The payment of $613.64 including 6% sales tax (base pmt of $578.91, tax is $34.73). The start up money due is $991.84 offsetting payments, $700 lease Acq. Fee, 190.00 state document fee and taxes.

    Dealer also states "with a $2,558.00 discount there no more room to move."

    Appreciate any thoughts or suggestions.
  • guruunoguruuno Member Posts: 23
    I guess this will be the December not to remember.
  • salinegsalineg Member Posts: 10
    Residual on the 36month 12k lease should be 60% as far as I know.

    I flat out asked for the coupons that I saw mentioned here and then they magically appeared. They have the option of a $500 or $1000 coupon/certificate. They can't be combined. They could have used them already though as each dealer was given a limited amount. But I suggest you flat out ask for it "after" you try to get them down to 47,450
  • monacodkmonacodk Member Posts: 11
    What is a reasonable discount off MSRP to shoot for BEFORE any of the holiday incentives?
  • njnet7njnet7 Member Posts: 1
    Seemed like you got a good deal. Can you share the name of the dealer?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome dealnodeal. Let me begin by saying that I love your username :). I am addicted to playing that "Deal or No Deal" game whenever I take my kids to one of those arcades like Dave & Busters. Though last time I got hosed and only won 6 tickets ;).

    The MSRP that you were quoted sounds a little low to me for a 2013 RX 350 AWD with the Premium Package and the Luxury Package with Blind Spot. I just plugged that configuration into the new vehicle pricing section here at Edmunds.com and came up with an MSRP of $49,235...much higher than the $46,950 that you mentioned.

    Either way, we can still look at the discount that you were given. This truck should have a spread of around $3,100 or so between its full MSRP and its dealer invoice price. You were quoted a discount of $3,900 on it, which to me looks like an excellent selling price.

    As long as the dealer used Lexus Financial Services current buy rate lease money factor of .00100 (top tier) to calculate your payment, and even if they marked it up a little bit given how low the selling price that you were quoted is, this looks like a great deal to me.

    Congratulations on getting a good deal on your new truck. Enjoy :shades: !

    Car_man
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  • dealnodealdealnodeal Member Posts: 3
    Thank you car_man. I am a BIG fan of the show too myself. The car has the Premium package with the blind spot, heated and ventalized seats, park assist, wood trim stearing wheel and the audio display. Msrp $46, 950. Capitalized cost $43, 000 and an adjusted cap cost of $41, 000. They gave me $1000 off certificate, 1st month pmt and I gave $2500 to get $429/month including tax for 27 month at 10k miles a year through toyota financial services. Is that a good deal? Purchase option is at $32, 300. I am thinking to buy at the end of the lease if I still like the car. What do you think? The residual value is at 69%
  • salinegsalineg Member Posts: 10
    Do we know the new lease rates yet for January? 12,000 and 15,000 36month on the RX350AWD
  • dippolddippold Member Posts: 2
    Nothing like waiting last minute of the December to Remember. Here is what I was offered. MSRP: $48,235, which includes Delivery,processing and handling. They will lease me this car for $44,000. 36 month lease. This includes the $1k Loyalty. I have a RX 350 now with the lease expiring. We would just exchange keys.
  • monacodkmonacodk Member Posts: 11
    dippold:

    I think you might be able to do better, although now that we are into a new month/year, dealers may not be willing to take as big of a hit. I just closed this deal on the 30th...

    MSRP-$49,439
    Agreed sale price - $45,000 (includes $1,000 DTR cash)
    Less: $1,0000 loyalty rebate = $44,000

    27mo lease; 10k miles/year
    Only fees upfront (acquisition, doc, tags/title)

    Monthly payment = $447 (before tax)
  • dippolddippold Member Posts: 2
    Thanks for your quick response,,I am going to talk to the salesman now and update you on his answer!
  • susan2000susan2000 Member Posts: 10
    Hey Carman,
    Just looking for some validation that we made the right move...We have 8 months less on our 2010 RX 350, with 42,500 miles, for which we have been paying $525/month. We will go over the allowed 52,000 miles by at least 2000 miles if we keep the car to the end. It also had some body work needed to due to side swipes on the back 1/4 panels (not dents, but swipes right down to the metal that can't be buffed out.
    We turned it in and leased a 2013 RX FWD one with Premium package19" wheels, ventilated seats, backup camera, wood trim, no navi. Sticker was 46,065. Cap cost total was $42,991 (this includes agreed upon price of $41,461 plus $741 lease balance and $100 acquisition fee). They applied $1500 in loyalty rebates/first payment.
    Lease is for 42 months
    15K miles/year
    Paid $800 out of pocket for first month, taxes, tags.
    Total monthly payment, is $470.97 plus tax for a total of $499/mo.
    Wh :) at do you think under the circumstances? Susan
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey dealnodeal. This looks like a good deal to me. Enjoy your new ride :shades: !

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi salineg. Lexus Financial Services' January buy rate lease money factor and residual value for a 36-month lease of a 2013 RX 350 AWD with 15,000 miles per year are .00100 and 57% for consumers who qualify for its top aka "Tier 1+" credit tier.

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

    Car_man
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  • davidg73davidg73 Member Posts: 2
    Hello car man,
    I need the residual and money factor for a 12k 36m lease for a 2013 2wd rx350?
    Thanks
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you're looking for davidg73.

    Lexus Financial Services' January buy rate lease money factor and residual value for a 2013 RX 350 2WD with 12,000 miles per year are .00100 and 59% for consumers who qualify for its Tier 1+ credit tier.

    Car_man
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  • davidg73davidg73 Member Posts: 2
    Thanks! For your time!
  • jack211jack211 Member Posts: 6
    I NEVER FULLY UNDERSTOOD THE LEASE OPTION. SEEMS TO ME LIKE YOU ARE PAYING WAY TOO MUCH. THE FIRST RX I BOUGHT I PAID CASH AND THEN I FIGURE I CAN TRADE FOR 5K PER YEAR. I TRADE EVERY 3 YEARS FOR 15K. DOES THAT MAKE GOOD SENSE?
    JACK
  • togadadtogadad Member Posts: 1
    Car Man:
    I'm inclined to lease an RX450h ÐÊI have a 2008 BMW 528xi and would like a bigger car but want to do the right thing for the environment. My question: is now (early Feb) a good time to go in and talk about leasing, or are there better opportunities in the near future (like President's Day) when I might get, as they say, "a more attractive lease option?"

    Thanks for any advice you can give.

    TogaDad
  • kyfdxkyfdx Moderator Posts: 236,527
    If you can trade for $5K, every three years, then that is likely cheaper than leasing...

    I'd think over a few cycles, that is going to be hard to do.... Of course, if you own it, you can always stretch out to 4 years, which is usually not cost-effective on a lease...

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  • sevenawaysevenaway Member Posts: 31
    kyfdx/Carman,

    Looking to pull the trigger on a lease this week. Can you confirm the residual and money factor on a 36mo lease with 15K/year.

    Thank you.

    If anyone has recent purchase details, it would be appreciated.
  • soapdish616soapdish616 Member Posts: 31
    Same here, what are the lease rates for Feb?

    We have a 2010 RX 350 FWD coming off lease. Was at $512/month... looking to get similar car (with Navigation) for less... possible?

    Also is there a way to get pricing on how much finance rates we could get if we buy out the 2010 RX 350?
  • carnal1carnal1 Member Posts: 6
    what is a reasonable price to lease rx350 2013 msrp about 49,500 with about 2,000 out of pocket for 1st payment,inception ,bank fee,registration and doc fee ? am turning in rx350 2012 with under 30,000mi 3 months early.
  • clasysclasys Member Posts: 30
    I have 2010 RX 350 AWD with 4 months ($535 per month) left to go. Just got a call from Lexus corporate, Loyalty Dept. and they informed me that so-called "Pull ahead" (they called it differently) program is live now and current lessees with less than 6 months remaining are eligible.

    I called my sales person, the one I worked with, and he quoted me the following over the phone. Same car as I have, no nav, few new options that weren't available on 2010.

    2013 RX 350 AWD
    Base features +
    - Display audio package
    - Heated and ventilated front seats
    - Parking assist option
    - Premium package with blind spot monitor system
    - wood & leather steering wheel & shift knob
    - cargo mat, net, wheel locks and key gloves

    MSRP $47,300

    At first, he said that even if 2013 is few thousands more (47,300 via 45 and change), he will happily match my current lease terms: $1235 due at signing ($700 bank fee + 1st month), 10,000 miles, 36 months, $535 a months NY tax included. He said that he used 60% residual and MF of 0.00100, and those are Feb numbers. They of course will wave all remaining payments on my 2010.

    Then, after few minutes of chatter, he offers me this:

    33 (???) months lease, 10,000 miles/year, $1235 due at signing ($700 bank fee + 1st month + $6?), 32 remaining payments of $529 (tax included). Lease via Lexus financial, not a 3rd party bank.

    I played around with numbers in lease calc, and it looks like in order to get that monthly payment, selling price must be around $42.7K. It looks like a very good deal to me.

    What do you guys think? This is first time I'm hearing about 33 months lease... Next time I speak to the guy, I will ask him what exact MF and residual he used for 33 months quote.
  • carnal1carnal1 Member Posts: 6
    here's what i got---2013 rxx350 all pkgs-premium,comfort, navigation at 380-36mos. at $580 a month 3mos left on old lease which they wii pay,$ 2000 out of pocket including 1st mo payment of $580 . what do you think?
  • NRINRI Member Posts: 11
    I think you may have little room for negotiation. Similar configuration in Maryland, I got for little less than 42k .

    GOOD LUCK
  • rickyeee1rickyeee1 Member Posts: 13
    Went into lexus today
    rx 350 with appearance 24 months 15 k msrp 49275
    selling car for 44.500

    550.00 month with 1380 out of pocket

    is this a good deal
  • carnal1carnal1 Member Posts: 6
    if that's awd, you got a better offer than i did. i was offered a 2013 rx 350, msrp 49.500 for $580 a month 12,000 miles a yr for 3 yrs, with $...2,000 out of pocket. this is in new jersey. they won't budge. should i take it?
  • NRINRI Member Posts: 11
    Please specify accessories.
  • meegwellmeegwell Member Posts: 67
    Interesting thread this.. Here's my take. My accountant has advised me that in my case, leasing is the same as buying, if I can:
    1) avoid paying a drive-off premium, 2) get the right residual and 3) obtain the right money factor. Also, whether I lease or buy I expense 80% of my payments because I use my car for business.

    What makes leasing a better proposition at this point in time is that, from what I've learned, Hybrid technology is on the cusp of a great leap forward. In three years I want to be able to turn-in my obsolete and rapidly depreciating 2013 hybrid and either lease or buy 2016's generation of Hybrid. Worst case scenario, I'm no worse off turning in my 2013 and leasing or buying a 2016.

    Bottom line, if you understand the residual and the money factor and you don't pay a drive off, except for your sales tax and the cost for your license plates, leasing is not more expensive. It's the same thing.

    There is one last point. What if your car appreciates or holds its value and you could make money buying it from the dealer and selling it for more? My car salesman advised me to check into that towards the end of my lease. If the numbers are in my favor I can sell the car to Carmax, pay off the dealer and pocket the difference. That may be worthwhile. I don't know if there's more to it than that, but I will find out when it's time.

    Looking forward to your critique
    Meegwell
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