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

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Comments

  • briegelbriegel Member Posts: 139
    Hi Friday4...The shipping cost for my RX from Riverside, CA to Portland, OR was $500. To ship it up to Seattle would have been $600. Lexus of Riverside and a broker I was going through took care of all the arrangements. Very smooth! It was still a significantly better deal than buying locally from a Lexus dealer in the Seattle area.
  • cingularcingular Member Posts: 2
    I agree with Friday4, if these are "true" deals, then the dealers are dumping units that they can't sell. It's the best luxury brand, and they don't have to give anything away. There has been alot of great information on here, but I would question what people paid for their car!! As far as leasing, you can use the MSD option with DEC TO REM, and if anyone says no, or doesn't know how, is full of s>>>. I purchased an RX350, and with the msd and dec to rem offers, i'm paying dirt cheap interest, while driving the best car for my money.
  • brgbrg Member Posts: 3
    Hi.....
    Does anyone have experience leasing an RX350 in the Northeast? Most postings seem to be from CA. Anyone know what the deals are for the Dec-To-Remember in say NJ,NY,PA?
    Thanks Much....... :confuse:
  • realtor3realtor3 Member Posts: 4
    I just leased an 07 RX 350, FWD, NO NAV. MSRP 40,301.00 CAP COST 36,200 + 600 ACQUISTION. Paid $4,500 MSD to reduce the money factor and paid just 1st month and tag. 36 moth, 15k miles per year, payment is 441 + tax in Florida. I tried several dealers in Florida and they would not go below sticker on this RX. I feel in the West Coast they probably have oversupply of this vehicle.
    Res at 15k is 54%
    money factor; .00133 - .00090(MSD) = .00043.
  • brgbrg Member Posts: 3
    Question ... what would the numbers look like if this were an AWD vs. FWD? Thanks.......brg :)
  • friday4friday4 Member Posts: 3
    Realtor3 what dealership was that? That has not been near my experience in Orlando.
  • realtor3realtor3 Member Posts: 4
    friday4,
    It was at Orlando, but I had to go thru hell to get this deal, had to speak to the GM as the sales managers don't know or don't encourage these deals. One sales manager told me that u can't do MSD's with Dec to Remember Deal. The reason I posted my deal on this forum is because the info I gathered from this forum was very beneficial.
    Good luck.
  • lexiedriverlexiedriver Member Posts: 4
    I'm about to purchase a vehicle and the seller is currently leasing it through Lexus Financial. Do I make a check payable to seller and then wait for them to payoff the lease and send me title?
    What is the usual process for this? We tried asking at a lexus dealer and they don't do third party sales.

    Thanks in advance
  • edmundohedmundoh Member Posts: 35
    I could use help on this too... looking for an AWD RX350 w/o nav in NY metro area for lease... but also would love to trade in car if I can get a decent value. Thoughts/dealer recommendations are welcome!

    ed
  • friday4friday4 Member Posts: 3
    Lexus Financial owns the car. The story you will probably get is that they are not licensed to buy/sell in your state so the paperwork is done thru the dealership. You would buy it from Lexus Financial there at the dealership same as the person who would be turning it in. I think you can be expecting to pay sales tax. Not really third party sale as you are buying from Lexus Financial again same as the party would be that has lease. Dealer tries to discourage as the residual is low and they can make alot on the turn in.
  • eshapireshapir Member Posts: 24
    I've never leased a car before and after reading http://carbuyingtips.com I'm still getting up to speed about leases. Would someone help me in evaluating this offer I just received (verbally) from a Lexus dealer in my area?

    2007 RX 400h AWD FT HH NV PT TO WU WL C1
    18" Aluminum Alloy Wheels
    Heated Front Seats
    Nav System
    Premium Plus Package
    Towing Prep Package
    Wood Steering Wheel
    Wheel Locks
    Cargo Mat

    MSRP = $49,846
    Dealer Invoice = $44,658
    Purchase Price = $45,000
    Money Factor = 0.00165
    36 month 12k miles/year term
    58% Residual of MSRP after 36 months
    Monthly payment = $619/month (sales tax included)
    Total out of pocket = $1,468 (broken down as follows)
    $600 Bank Fee
    $149 Documentation Fee
    $100 New License Plate Fee
    $619 First Month's Payment

    So, what do you all think of this offer? Are there any items that I should question, for example, the $600 Bank Fee, or a lower Money Factor since I have a high FICO score?

    Also, are there any other items I'm going to want in writing to ensure the best possible lease? Thanks in advance for everyone's help.

    Ethan
  • eshapireshapir Member Posts: 24
    I've never leased a car before and after reading http://carbuyingtips.com I'm still getting up to speed about leases. Would someone help me in evaluating this offer I just received (verbally) from a Lexus dealer in my area?

    2007 RX 400h AWD FT HH NV PT TO WU WL C1
    18" Aluminum Alloy Wheels
    Heated Front Seats
    Nav System
    Premium Plus Package
    Towing Prep Package
    Wood Steering Wheel
    Wheel Locks
    Cargo Mat

    MSRP = $49,846
    Dealer Invoice = $44,658
    Purchase Price = $45,000
    Money Factor = 0.00165
    36 month 12k miles/year term
    58% Residual of MSRP after 36 months
    Monthly payment = $619/month (sales tax included)
    Total out of pocket = $1,468 (broken down as follows)
    $600 Bank Fee
    $149 Documentation Fee
    $100 New License Plate Fee
    $619 First Month's Payment

    So, what do you all think of this offer? Are there any items that I should question, for example, the $600 Bank Fee, or a lower Money Factor since I have a high FICO score?
    Also, are there any other items I'm going to want in writing to ensure the best possible lease? Thanks in advance for everyone's help.

    Ethan
  • cpa3cpa3 Member Posts: 89
    I think the money factor is high...Read others on this board you will see the Dec to Remeber rate is lower. Also from what I have seen in Southern Calif some have gotten $1500 plus below dealer invoice for the AWD and 2WD I am not sure about the h. Residual looks fine. The documentation fee is extra money for them, try to get rid of it. I assume the license plate fee is mandatory in your state? Is that the car license? You should be able to get less..
  • brent99brent99 Member Posts: 19
    Accounting for no Mark Levinson Audio or Rear Entertainment System, I signed a nearly identical deal months ago. As far as I can discern, its an excellent deal. Your money factor equates to 4% financing so -- no, I wouldn't question that.
  • smh12smh12 Member Posts: 13
    Does anyone know the current residuals for 12k/36mo on both the FWD and AWD without the rear ent. system? Does the Nav pkg effect the residuals?

    Thanks!
  • edmundohedmundoh Member Posts: 35
    Hi.. here's a deal I was offered over the phone, so haven't seen in writing yet...after a little haggling, from Manhattan Lexus in NYC

    RX350 AWD
    Premium Package and Luxury Value edition (no NAV)

    18" Aluminum Alloy Wheels
    Heated Front Seats
    Towing Prep Package
    Wood Steering Wheel
    Wheel Locks
    Cargo Mat
    MSRP: $43,300
    cap cost: $38,800

    36 month lease, 12,000 mi/year
    $2,000 cap reduction/downpayment
    57% residual
    tier 1+ money factor of .000133
    monthly payment of $422

    This is good, right?
    Don't have total OTD figure, but estimate of downpayment + taxes, reg, lease fee total about $5K

    Your thoughts on this?
  • moolmanmoolman Member Posts: 129
    Here's the lease rate posted by Tarry of Leasecompare.com on the roadfly forums.

    Maybe the lowest you can go right now is 0.00113, not the 0.00133 that we've been seeing. This is as of 12/06/06

    Lexus Lease Rates & Residuals – Effective 12/6/06

    These lease rates are for reference only and may vary by region. The dealer does not have to offer you these rates. It’s always best to compare other lease programs through other sources such as LeaseCompare.com.

    2007 Lexus RX350 2WD 4dr Wagon / Compare Instant Lease Quotes / (12)

    24 mo/15k mi – Residual Value 60% of MSRP – .00113 Base Money Factor Rate
    36 mo/15k mi – Residual Value 54% of MSRP – .00113 Base Money Factor Rate
    48 mo/15k mi – Residual Value 45% of MSRP – .00113 Base Money Factor Rate
    60 mo/15k mi – Residual Value 36% of MSRP – .00255 Base Money Factor Rate

    36 mo/12k mi – Residual Value 56% of MSRP – .00113 Base Money Factor Rate
    48 mo/12k mi – Residual Value 47% of MSRP – .00113 Base Money Factor Rate
    60 mo/12k mi – Residual Value 38% of MSRP – .00255 Base Money Factor Rate

    2007 Lexus RX350 2WD 4dr Wagon w/ RSE / (12)

    24 mo/15k mi – Residual Value 58% of MSRP – .00113 Base Money Factor Rate
    36 mo/15k mi – Residual Value 52% of MSRP – .00113 Base Money Factor Rate
    48 mo/15k mi – Residual Value 43% of MSRP – .00113 Base Money Factor Rate
    60 mo/15k mi – Residual Value 34% of MSRP – .00255 Base Money Factor Rate

    36 mo/12k mi – Residual Value 54% of MSRP – .00113 Base Money Factor Rate
    48 mo/12k mi – Residual Value 45% of MSRP – .00113 Base Money Factor Rate
    60 mo/12k mi – Residual Value 36% of MSRP – .00255 Base Money Factor Rate
  • smh12smh12 Member Posts: 13
    Has anyone been given the .00113 money factor? I have tried several dealers and the all say the lowest is .00133. Is it normal for Lexus to change the money factors mid-month? :confuse:

    Thanks
  • sfauersfauer Member Posts: 4
    I'm looking at a 36 mo lease on an RX 350. Options are AWD + Premium Plas Package + Heated front seats w rain sensing intermittent windshield wipers + 18" wheels + Towing Prep Package + Cargo Mat + Wheel Locks. $4000 down includes sales tax at 8%. Payment is $471 / mo. Is this any good?
  • sls1sls1 Member Posts: 45
    Is this a good deal?

    2007 RX350
    Premium plus package
    Navigation system with blue tooth and rear back up camera
    18" wheels and all season tires
    Heated front seats and rain sensing wipers
    some additional minor options
    12,000 miles
    36 months
    0 down

    MSRP is 44,306

    Cap cost $39,863.00

    monthly payment is $499 plus tax
  • cpa3cpa3 Member Posts: 89
    Probably not...You dont have enough info to evaluate..Need MSRP, Dealer Cost, Cap Cost, Residual Rate, Money Factor...Whats the $4000 down about?
  • dsluckidslucki Member Posts: 8
    Can someone help tell me if this is a good deal in Southern California?

    Price: $37825
    Residual: 56%
    Money Factor: .001330
    zero down.
    Monthly payment including tax: $528

    Can someone tell me what the current money factor should be, .00133 or .00113? :confuse:
  • markusmannmarkusmann Member Posts: 10
    I was quoted the following lease offer for the "December 2 remember" lease in Southern California of a RX400h 2007 AWD with 18" alum alloy wheels, heated front seats, premium package plus, towing prep package, navigation/mark levinson audio package, wood stearing wheel, cargo mat, and wheel locks.

    Dealer (invoice) price $45794
    MSRP $51346
    Sale price $47794 (incl mark-up)

    Leasing offer:
    Lease special - Tier 1, Score 730+, zero security deposit
    Total inception fee $1128.78
    Original MSRP $51346.00
    12000 miles per year
    Residual value $29780.68 (58%)
    Rate 0.001650
    Selling price $47794.00
    36 month lease
    Lease payments (35 months) $699.32 (incl tax)

    Car_man, does this look like a good deal?

    Thanks!

    Markus
  • comfortzonescomfortzones Member Posts: 37
    Car_man, could you please post Lexus's December To Remember Lease Rates for the 2007 400h? Thank you!
  • sfauersfauer Member Posts: 4
    RX350AWD MSRP 43,056. Selling at 39,145. Is this a decent deal?
  • edmundohedmundoh Member Posts: 35
    I've been shopping leases in NYC area, same vehicle as you. Both dealers IMMEDIATELY dropped cap cost of car (would be your purchase price if not leasing) to $38,800 and $39,000, respectively, so sounds like you can easily shave a few hundreds bucks off that.

    FYI for the group, in NYC and suburbs, they DO seem to be selling like hotcakes, given the actual buyers I saw in showroom yesterday, not just looking but actually buying and taking delivery!
  • atlantaroseatlantarose Member Posts: 10
    Can anyone tell me if this is a good lease deal?

    RX350 FWD
    Level 1 pkg
    MSRP $40,301.00
    Selling Price $37,200.00
    MF .00163
    Down Payment $1998
    Monthly Payment $513.08
    Residual value 45% (48 months)

    I'm trying to figure out if I want to lease the RX350 or the new ES350.
  • darballman1darballman1 Member Posts: 55
    No, I believe you can do better. On the same car, here in CA, I have gotton 37.2 from one dealership, and 37. even on two others.
  • sfauersfauer Member Posts: 4
    Thanks for the info. Our dealer was a bit of a jerk. Said the deal was good only for today. We needed time to think about it and check prices people were paying on this site. We walked - he had a stunned look on his face!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congratulations on your new truck, redhat381. Thanks for taking the time to share the details of your deal with everyone. Enjoy!

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi kunalb. The reason why the 2007 400h is so much less expensive to lease than the 2007 GS 350 is right now is because its lease program is much more attractive. The 400h has a lower money factor and higher residual values than the GS 350. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 RX 400h AWD without the entertainment system with 15,000 miles per year are .00165 and 56% for consumers who qualify for its Tier 1+ credit tier. Using these numbers, an MSRP of $49,887, and a selling price of $45,051, I come up with a zero down, pre-tax monthly payment of around $596. With a $2,500 capitalized cost reduction, this payment would drop to around $523. The selling price that you were quoted looks good to me, just make sure that the aforementioned money factor is being used to calculate your truck's monthly payment and you're in business.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello cpa3. Lexus Financial Services' current "December to Remember" lease program for this truck varies depending upon how you want it equipped, how long you lease it for, and its mileage allowance. For now I will assume that you are interested in a 36 month lease of a 2007 RX 350 AWD without the entertainment system with 15,000 miles per year. Let me know if you want some thing different. LFS' current buy rate lease money factor and residual value for the aforementioned parameters are .00133 and 55%, respectively. At lease signing you will have to pay your truck's first month's payment, Lexus' $600 acquisition fee, and any required state taxes or fees.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi tonyrx. Don't worry about the expense of the 30,000 mile service for your leased vehicle. All consumers who lease really have to do is change their vehicle's oil at the recommended interval. Performing any other service is really nothing more than a waste of money (other than perhaps getting the tires rotated, but that's just to keep you from having to pay for excess wear and tear).

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Sls1, Lexus Financial Services' base lease acquisition fee is indeed $600. At lease signing, consumers who lease through LFS will have to pay the aforementioned acquisition fee, their vehicle's first month's payment, any capitalized cost reduction that they choose to make (ideally this would be zero), and any required state taxes or fees. Consumers who qualify for LFS' top credit tiers do not usually have to pay a security deposit when leasing, but if you want to you can make additional security deposits on your vehicle. You will receive a reduction of .00010 for each additional deposit that you choose to make up to a maximum of nine. The lower your vehicle's money factor is, the lower its monthly payment will be.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings Ethan. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.

    Now let's take a look at the lease that you were quoted. The selling price that you are being given on this truck looks very good to me. The only issue that I have with this deal is the money factor that is being used to calculate your truck's monthly payment. Lexus Financial Services' current buy rate lease money factor for the 2007 RX 350 is only .00133 for consumers who qualify for its Tier 1+ credit tier. If your credit is in good shape, make sure that this is the factor that is used to calculate your truck's monthly payment and you're in business. The $600 acquisition fee is a standard charge that LFS charges on every vehicle that it leases. Individual dealers are not allowed to waive this charge.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you're looking for, smh12. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 RX 350 AWD without the entertainment system with 12,000 miles per year are .00133 and 57%, respectively. The numbers for an otherwise identical lease of a FWD model are .00133 and 56%. The addition of navigation has no impact upon these trucks' lease programs.

    Car_man
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  • jimbonycjimbonyc Member Posts: 5
    From what I've read on other posts best deal seems to be about $4800 off MSRP or $1500 over invoice. So you may be able to get them to shave another $1000 off their price.

    I was at Lexus Manhattan this past weekend and without much haggling they offered me $3600 off MSRP. I haven't played tough yet -- that was their softball offer -- so could probably get them lower. Though the showroom was bustling so they seem to have a lot of demand.

    BUT...my question is, how did you get the NAV with Levinson?? My understanding (i have spoken to a number of dealers in NY and MA) is that Levinson is a special order item (3-4 months wait), it does not come with the 2007 NAV package. Did they have one someone had ordered and decided not to purchase??

    If you don't take it, please let me know -- I will! If you like music, the Levinson sounds amazing vs. the standard sound system.
  • moolmanmoolman Member Posts: 129
    Well, I guess the rates I posted from Tarry of leasecompare is wrong.

    Car_man is saying it is 0.00133 for the RX not the 0.00113.

    So if you got 0.00133 for Tier1+, it should be the lowest.

    Good luck to everyone else, I love the car and the payments I got, $471 for 36months/18K. Look up the details in a previous post. This is a SoCal deal of course.

    Alex
  • markusmannmarkusmann Member Posts: 10
    Basically the car is coming to them in ten days with the equipment I mentioned. They looked at what I wanted, told me this one is coming to them, and I simply reserved it. They seem to be going pretty quick here too. The dealer is great otherwise and I got a good deal on my previous car which I sold today, so I am golden.

    I know, the ML sound is awesome. I've been looking around and haven't found another dealer with the configuration I want. Some have been pushing different colors or for me to switch to FWD instead of AWD. Nah.

    BTW, I am on the west coast. Just so that you know. :)
  • moolmanmoolman Member Posts: 129
    The RX350 with the ML sound system can be found in So Cal at Longo Lexus, they had a couple in stock 2 weeks ago. I think they had a white and black exterior. I forgot how much they wanted but it was a decent price through their internet department. Longo is the biggest Toyota dealer in the world, not sure about Lexus, so they get a lot of cars in.

    Alex
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi edmundoh. This is a very detailed description of this lease. Good job. The money factor that you were quoted is right in line with Lexus Financial Services' buy rate for this truck. This is a good thing. The selling price that you were quoted looks very attractive as well. I personally wouldn't make the $2,000 capitalized cost reduction (you lose it if your vehicle is totaled in an accident), but other than that this looks like a great deal.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello sls1. The selling price that you were quoted looks good to me. Just make sure that the dealer you are working with uses the buy rate lease money factor that has been mentioned in this discussion to calculate your truck's monthly payment and you're in business.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi dslucki. It would be a big help if you were able to post this truck's full MSRP. This will show how much of a discount you are being given on it. When Lexus initially introduced its "December to Remember" sales event on November 14th, its base special money factor for the 2007 RX 350 was .00133 for consumers who qualify for its top credit tier. This lease program was scheduled to run through January 2nd. It is possible that Lexus made an unscheduled enhancement to this truck's lease program in early December, but I personally have not heard anything about it yet if it has.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello Markus. The money factor that you were quoted for this truck is too high. If you qualify for Lexus Financial Services' top credit tier (it looks like you do), its special money factor for this truck is at worst .00133. There have been rumors floating around that it has been enhanced to an even better rate than that. Make sure that you have the dealer that you are working with use this truck's buy rate money factor to calculate its monthly payment.

    As far as this truck's selling price goes, I am sure that you are already aware that the price you were quoted is $2,000 over invoice. Given the fact that you are in such a competitive automotive marketplace, Southern California, if I was quoted $2,000 over invoice on this truck I personally would be inclined to shop around some more. That's a lot of room to play with. There's a decent chance that you will be able to find a dealer that is willing to beat this deal by comparison shopping. Before you head out, make sure to stop by the following discussion to see how much other community members have paid for similar trucks lately: "Lexus RX 330 / RX 350: Prices Paid & Buying Experience".

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi comfortzones. According to the latest information that i have seen, Lexus' "December to Remember" buy rate lease money factor for the 2007 Lexus 400h is .00165 for up to 48 month terms for consumers who qualify for its "Tier 1+" credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings atlantarose. If your credit is in good shape, the money factor that you were quoted for this truck is too high. When it initially introduced its "December to Remember" promotion on November 14th, Lexus buy rate lease money factor for a 48 month lease of the 2007 RX 350 FWD was .00133 for consumers who qualify for its top credit tier. Rumors have been floating around that it was enhanced again in early December. Whether it has or not, the money factor that is being used to calculate your truck's monthly payment is a little on the high side.

    I am not personally all that familiar with what the market is like for this model in your neck of the woods, but I have seen community members report getting larger discounts than the one that you were quoted for this truck. If there is another Lexus dealer or two in your area, it wouldn't hurt to comparison shop a little bit to see if you can beat this deal. Just make sure to finalize your lease before the "December to Remember" program ends on January 2nd. It is difficult to say what Lexus' lease program will be like in January.

    Car_man
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  • sls1sls1 Member Posts: 45
    How do you calculate the monthly amount using the money factor?
  • dsluckidslucki Member Posts: 8
    Car_man - thanks for the response. I've got two deals in the works for the same car. 36 month, 12k miles RX350 FWD with NAV.

    Deal 1:
    MSRP 44123
    Selling price 37987
    MF .00133
    Residual 56%

    Deal 2:
    MSRP 44123
    Selling price 37825
    MF .00133
    Residual 56%

    Are these good deals for Southern California?

    Thanks!
  • jimbonycjimbonyc Member Posts: 5
    For those in NY...just now closing on the 400h with premium plus package & NAV package. MSRP is $49,866. MF is 0.175 or 0.165 if qualify for Tier 1+ credit. Residual is 58% for 12,000 miles. I'm buying from Lexus of Manhattan for $46,000. Lexus of Larchmont and a NJ dealer offered the car for what they said was basically cost -- $45k. I did a ton of haggling and called a number of dealers, so i think this is the best deal you can hope to get. In the end, i could only get Manhattan Lexus down to $46k, but they have the car in stock & I need it for the holidays, so I'm going with them. I'm having the dealer add XM satellite for $775 (would have been $650 at Larchmont -- oh well).

    Hope this info helps. Good luck shopping.
  • atlantaroseatlantarose Member Posts: 10
    Thanks Car_Man

    I felt that it was a little high. Consumer reports suggest bottom line pricing at about 34k to 35k for a base model. I'm thinking that I should wait until the end of the month to see what kind of deal might be available here in the Atlanta area.
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