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2013 and earlier Lexus RX 350 / RX 450h Lease Questions
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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
I don't think I've seen the December lease rates for a RX350 AWD for 36 months/12000 miles. Can you provide?
Thanks
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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Car_man
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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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Car_man
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Car_man
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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.
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
Car_man
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Car_man
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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?
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
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.
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
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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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)
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
Car_man
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The residual value for a lease with 12,000 miles per year would be 2% higher.
Car_man
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I need the residual and money factor for a 12k 36m lease for a 2013 2wd rx350?
Thanks
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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JACK
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
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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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.
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?
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.
GOOD LUCK
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
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