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

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Comments

  • eshapireshapir Member Posts: 24
    I've had better offers for the exact same 400h both in NJ. My best offer so far is $44,500 MF 0.0065, 58% Res., 12k miles. Invoice on that car is $44,658. If you go elsewhere jimbonyc you may get a better deal.

    Let me know about your buying experience at Lexus of Manhattan. I've given them a shot a winning my business and I'm curious to see how things go for you.

    Thanks for the update.
  • eshapireshapir Member Posts: 24
    I read a report about how the sales of hybrids have declined by 31% since August due to the decline in fuel prices and the expiration of the tax credit. Using this logic, shouldn't there be more "incentive" for dealers to move this model off their lots? Apparently the "Days to Turn" measurement for hybrids jumped from 6 in August to 11 days in November.

    Most of the dealers I've spoken with have a large inventory of these cars and I think they will be getting eager to move them soon. Anyone have any feedback or seeing something different?

    Here's the article
  • edmundohedmundoh Member Posts: 35
    Thanks for the feedback... these guys are dealing, because I balked at their low trade in for my RX300... they offered a ridiculous $12,500, increased it to $13,700, then upped it again last night to $14K. I wanted Sirius radio but thought it was too expensive -- $895 installed -- so they lowered the cap cost of the car by $200 to $38,600. So I'm a happy camper, picking up the Flint Mica RX on Saturday.

    Will report back on my experiences!
  • darballman1darballman1 Member Posts: 55
    2 questions:

    1. Here's the deal offered by both Crown and Longo Lexus for a AWD Prem + PKG. Pretty nice deal, I believe. What do
    you think ?

    MSRP: 43,033
    Selling Price: 37,000.
    12K per yr.
    MF: 0.00133
    Residual 57%: $ 24,541.92
    Payment (Incl.7.75% Tax) $ 483.87

    2. Originally, I was going to buy a RX in the spring. Have you ever seen Lexus with a comparable offer to Dec. To Remember ? I doubt if the MF will be this low next year, even w/the 08 RX;s coming out. Any ideas?

    Thanks, Car Man.
  • cpa3cpa3 Member Posts: 89
    Darballman1

    Based on what you presented your lease payments dont calculate out correctly to $483.87. I came up with $461.45 which includes the sales tax. Looks like they tacked some extra charges in there. What about the $600 lease fee. Where is that. Even adding that in it still fall short of the $483.87
  • jennbbjennbb Member Posts: 10
    I've browsed the deals posted here. I'm in CT.
    Here's what my local dealer quoted me:
    RX350 awd w/ premium pack (no nav)
    MSRP: 43,033
    got that down to initial cap cost = $38,600
    $952.00 cap cost red ($2K total down incl. tag, title etc.)
    12K/yr
    $505.75/mo including 6% sales tax
    money factor = .00153 and that's where I'm confused. I see in this board the Dec to Rem MF should be .00133

    Does it vary by state or did he assume I'm a slacker? He didn't check my credit. I'm sure it's pretty high.

    I called a dealer in NJ that said they'd deliver me the car and beat the price. Skeptical there, how can it not cost to deliver the car?

    I plan on renegotiating anyway because I think I want the nav system. why not.
    thanks for advice...
  • jimbonycjimbonyc Member Posts: 5
    Yeah, I definitely left a little money on the table. Between selling price ($46k at Manhattan Lexus vs. $45k offered in Larchmont), Xm Radio ($125 more at Manhattan) and taxes, left about $1300 on the table. But, the Mahattan dealer has the car and I need to travel at the holidays, so figured i saved about $500 on plane tickets/car rentals and saved a lot on the hassle factor. Plus, I spent a lot of time at the Manhattan dealership. They did not hammer me with a constant sales pitch -- no high pressure selling. They were very professional, knowledgeable, and the sales guy I dealt with was a great guy. So I thought they also deserved the business vs. the other dealers who spent 10 minutes on the phone with me.

    So bottom line seems to be that Manhattan Lexus does not offer the best deals (at least early in the month) but they are easy to deal with. Good luck!
  • edmundohedmundoh Member Posts: 35
    Hi... just finalized my rx350 deal with Lexus of Manhattan, and while they were more expensive for the sat radio, they were negotiable and ultimately came in under Larchmont. Also like the NYC guys better... the Larchmont guys seemed a little smug. So I'd push the NYC guys... agree that they are professional, low pressure, easy to deal with. Finance mgr. did NOT try to lard up the deal with phony extras, either.
  • jennbbjennbb Member Posts: 10
    Couldn't wait for responses.

    I put a deposit via phone w/ dealer in NJ.

    RX350 awd w/ nav
    MSRP: 45,706
    initial cap cost: 40,600
    $0 down
    12K/yr
    mf: .00133
    monthly payment incl sales tax = $498

    car's waiting for me when I'm ready to take a road trip.
  • markusmannmarkusmann Member Posts: 10
    Hey Car_man, thanks for the reply. I've gotten two more offers via email, and they both had 0.00165. I can't anyone on the forum that has a lease offer for a RX400h for 0.00133, only RX330 or RX350. I emailed the dealer and asked if the 0.00133 is what I should be getting. They'll probably get back to me tomorrow.

    I'll post again when I see the numbers. Thanks again.
  • rhpdevrhpdev Member Posts: 14
    Has anyone had any experience with Betts Lexus in Des Moines IA. Looking at getting an RX 350 with Premium Plus Package. Planning on using a lease. I have purchased many Lexus before, but in IL. Thanks
  • smh12smh12 Member Posts: 13
    Tarry on Roadfly just again posted the .00113 money factor for the RX360 AWD 12k/36mi. I still only see quotes from the dealers of .00133? :confuse: Can anyone verify the correct number?

    Thanks
  • edmundohedmundoh Member Posts: 35
    Picked up new RX350 today, Flint Mica AWD w/black interior and Sirius radio... drove about 100 miles. Fast, smooth, seems a bit more stable and solid than my old RX300, wish it were just THAT more fun to drive, but it sure is comfortable.

    Had a pretty good experience at Lexus of Manhattan, (where I had bought my RX some 5 years ago) as spelled out earlier, MSRP $43,056 (Premium and Luxury Value Package + ridiculous $895 for Sirius radio installed). Total cap cost $39,500 and $14K for my 2001 RX300 with 49K miles. Gave $2K down. Monthly payment $442, $4675 OTD. Found them totally willing to deal.

    Ray Catena Lexus in Larchmont, NY was a few hundred dollars more in cap cost and offered $500 less for my car... really had a take it or leave it attitude, seemed too busy to talk or follow up, and I live in Manhattan... so I didn't really try to hammer them.

    Only annoyance (hopefully JUST annoyance): turned over title to my old car and was told "accounting will cut you a check first of next week and you'll have it in 5 to 10 days." Did NOT like that they didn't hand me a check for $14K. I hope there'll be no issues.

    Want to thank all of you, including CARMAN, on the forum who chimed in with great advice and helped me get a terrific deal... truly a December to Remember when you're armed with the right numbers!

    ed
  • abatardiabatardi Member Posts: 2
    Just got this deal yesterday at Stevens Creek Lexus in San Jose, CA:

    2007 RX350 AWD w/Nav
    MSRP: 45,076
    Selling Price: 40,760
    12k miles per year
    MF: 0.00133
    Residual (57%): 25,963
    Cap Cost Reduction: $1500 (trade in allowance)
    Total out the door: $1000
    Payment (Including 8.25% killer Tax): $510/mo
  • tonyrxtonyrx Member Posts: 2
    These prices sound really good. I'm looking for the same vehicle. Can you please let us know which dealers? How did you obtain them...in person, phone, internet? Thanks!
  • markusmannmarkusmann Member Posts: 10
    Thanks for all the help. Picked up the RX400h today. Turned out to be pretty difficult finding the "perfect" vehicle in the end, but one dealer came through for me and they were great to deal with when finalizing.

    One thing they offered which was new to me was a "Ultimatte Protection Plan" which is basically them taking care of dents and scratches interior/exterior for 36 months for USD925 with a USD100 deductible each time. I ended up getting it since I had a bunch of these on my previous car after three years, and they say that's not considered normal "wear and tear" for a lease. Does anyone have any experience with this type of plan? Is it worth the money? It seems to make sense for me when I did the quick math in my head.
  • markusmannmarkusmann Member Posts: 10
    Did not end up taking the original offer on the RX400h AWD so that car is available at that dealer in SoCal if you are interested (Nav + ML sound).
  • joewelljoewell Member Posts: 1
    dslucki at which dealer in SOCAL did you get that deal from?
  • eshapireshapir Member Posts: 24
    Took my deal to a closer dealer and they beet the Purchase Price by $500. Am about to move forward with the new lease. Anyone have any tips for avoiding any last minute gotchas on a Lexus lease?

    Thanks,

    Ethan
  • marciabcdmarciabcd Member Posts: 5
    Jenn, if you don't mind me asking, where in NJ did you go? I am also from CT and running into higher prices here.
  • joe133joe133 Member Posts: 1
    Just learning about leases for the first time and looking into the lexus.
    MSRP 43448
    Price 41000
    Rate .00200
    Residual 20855.04
    Payment 584.61

    Any thoughts/tips would be greatly appreciated.
    Thank you.
  • dsluckidslucki Member Posts: 8
    I got these quotes via the Internet. Try Longo and Westminster.
  • snewtiesnewtie Member Posts: 7
    07 RX 350
    Nav w/ blue tooth & back up camera
    18" alloy
    Prem Plus Pkg
    Rear Entertainment
    Talked to 3 Dealers
    Best offer I am getting is
    Just fees about $1560 out of pocket and $561 monthly payment including 7% tax.
    Haven't run my credit or anything like that.
  • cpa3cpa3 Member Posts: 89
    You must know how to calculate your lease payment in order to get the best deal. Dont trust the dealers quoting you rates. I have seen many deals posted on this board that dont calculate out correctly. In other words there is more costs added to the deal than what the buyer is quoting to us.
  • cpa3cpa3 Member Posts: 89
    Thanks to this board, Carman, and others who deals I learned from. In order to get this deal I emailed out my terms to several dealers. A couple called back and this is what I ended up with.

    MSRP $44146 - RX350 FWD Nav, 18wheels, heated seats,plus more
    Cap $37000 plus $600 acquisition fee
    Term:48 months
    Miles: 15,000 per year
    Residual: 45% (four years and 15K miles)
    Money Factor: .00133
    Drive off: $839.20 (1st pmt plus DMV fees)
    Monthly Pmt: $445.89 plus sales tax.= $480.45
  • eshapireshapir Member Posts: 24
    Locked in a deposit on the following deal. Took this offer to the dealer closest to me and it was so good that they wouldn't match it.

    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 = $49,866
    Dealer Invoice = $44,658
    Purchase Price = $44,500
    Money Factor = 0.00165
    36 month 12k miles/year term
    58% Residual of MSRP after 36 months
    Monthly payment = $608.98/month (sales tax included)
    Total out of pocket = $1,583.23 (broken down as follows)
    $650.25 Bank Fee
    $199 Documentation Fee
    $125 New License Plate Fee
    $608.98 First Month's Payment

    Just putting the info out there as this website and these forums save us a good amount of $. Good luck to everyone.

    Ethan
  • eshapireshapir Member Posts: 24
    Locked in a deposit on the following deal. Took this offer to the dealer closest to me and it was so good that they wouldn't match it.

    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 = $49,866
    Dealer Invoice = $44,658
    Purchase Price = $44,500
    Money Factor = 0.00165
    36 month 12k miles/year term
    58% Residual of MSRP after 36 months
    Monthly payment = $608.98/month (sales tax included)
    Total out of pocket = $1,583.23 (broken down as follows)
    $650.25 Bank Fee
    $199 Documentation Fee
    $125 New License Plate Fee
    $608.98 First Month's Payment

    Just putting the info out there as this website and these forums save us a good amount of $. Good luck to everyone.

    Ethan
  • candy8608candy8608 Member Posts: 4
    Hey i was quoted the following on an 07 RX 350 and wanted to know if I got a good deal.

    2007 RX 350: w/Premium Plus Pckg. (HID Lights, Heated Seats, etc)
    MSRP: $41,500
    Sale Price: $36,288
    Down Payment (inc. inceptions): $3500
    12,000 Miles, 36 Months
    $429 a month inc. tax

    Not very sure of money factor or residual but I can ask the salesperson.

    DOes this sound like a good deal?? :confuse:
  • jennbbjennbb Member Posts: 10
    Sorry - I haven't checked back here since I sealed my deal...

    I went through Ray Catena in Monmouth, NJ.
    They were great and I haven't even met them yet. I'm going Saturday - can't wait. I dealt soley on the phone.

    Honestly, I think I could have got them even lower, but I was so happy because it was so much better than any of the CT dealers that were padding costs everywhere.

    The guys at Ray Catena were the best. They laid everything on the table - and I was able to do that because of all the prior posts. This board is the best. I'll never lease another car w/o it.

    Good luck - I'd be interested to see how low they go if you try. Sorry I can't post their phone#
  • jennbbjennbb Member Posts: 10
    Oh, just realized you're in CT too.

    My friend in Long Island leased through them and they delivered her car free of charge. I asked if they would bring me mine and originally they said no, but then one of the sales guys called me and said they had family in Wallingford CT and he would bring me my car.

    I know this is going to sound ridiculous, but I wanted to be the first person to drive my new baby. So I'm making the estimated 3 hour road trip. I have family in NY so it's only an hour or so out of my way. (They are exit 105 off garden state)

    If you want them to deliver your car, mention the guy who has family up here. Don't know where in CT you are, but it could work out.

    I'm so excited!
  • cpa3cpa3 Member Posts: 89
    Doesn't sound like too good a deal to me. Too much missing information. I dont know where you are to determine if the selling price (cap cost) is appropriate. For Ca it might still be a little high. But the worse part is the $3500 down. If you assume the $3500 includes your first pmt, plus lease fee $600 plus DMV...that only comes up to about $1300...the rest is just paydown...So assuming a $2200 reduction in the cap cost the lease should come out to about $367 plus tax...for Ca that would be about $395 a month total...
  • candy8608candy8608 Member Posts: 4
    I live in Miami, Florida. The dealership is in Pembroke Pines, Fl. I thought $3500 may be a bit too much. So you're saying my payment should be about $387 more or less w/tax?
  • cpa3cpa3 Member Posts: 89
    I think you should be able to do better. I suggest you contact a few dealers in your area via phone or email. Outline to them what you are looking for on the car and what lease terms. Tell them exactly what options you want. Those cars only come in a couple configurations in each area. Make sure you tell each one the same thing. Then compare what they tell you. Now you should have some idea of what can be done in your area. It actually best if you read this board thoroughly. Somewhere on here is a link that tells all about leasing and how to calculate your payment. Dont walk on a lot and deal with a salesperson...Its a waste of time in my opinion, unless you like to haggle or just give in.
  • candy8608candy8608 Member Posts: 4
    Thank you so mch for your help. I called around to a few dealers and they pretty much had the same prices. I wanna see if i take away about $500-$1000 from the down payment and make it a 48 month lease maybe I'll be better off but that's assuming that with it being a 48 month lease the residual doesn't go down that much...

    Thanks alot for your help! :)
  • cpa3cpa3 Member Posts: 89
    Candy, if you go back several messages you can see my lease. I just leased on a 48 month lease. Yes the residual does go down (45%)however thats offset by the additional 12 months to pay off. In fact you should find your lease payment decrease by about $9 a month when you go to 48 months. Also thats a great way to go because the car is covered under warranty for 50K miles or 4 years...
    Good luck...
  • candy8608candy8608 Member Posts: 4
    Thanks. I saw your post on the deal you got. So you only paid $839 plus the acq fee and first month payment which roughly is about $2000 out of pocket?? And I'm being quoted $3500 (including incep.) for a cheaper model than yours for 36 months and 12K miles... Yea I seriously have to go re-negotiate my numbers!!! :mad:
  • cpa3cpa3 Member Posts: 89
    No, I paid only $839 out of pocket which was my first months payment and the DMV fees. That was my total drive off I had to pay. The acq fee was added to my cap cost of $37000 plus $600. Also remember from what I have seen posted is that in Calif we seem to get better deals than some places in the country. I have three Lexus dealers within about 10 miles from my house. All have at least 50-75 of these cars sitting on their lots.
  • hockey81hockey81 Member Posts: 8
    Should I take this deal?

    Lexus RX 350 AWD Premium package heated seats +
    List $43,056
    Purchase Price $38,700
    36 month/36,000 mile lease 57% residual
    money factor 0.00143
    monthly payment $514
    fees $750 bank fee, $600 security deposit, $200 doc, $165 registration
    single payment opt would reduce money factor to 0.00053
  • snewtiesnewtie Member Posts: 7
    Ok so I did the deal
    07 RX FULLY Loaded
    MSRP $47.9K
    Sale Price $42K
    12K Miles/Yr
    36 Months
    Money Factor .00133
    Payment $561
    Prestige on RT17 In NJ
    Gap Insurance in the doc fees.
  • bmreynoldsbmreynolds Member Posts: 15
    I am looking at one in DFW and was wondering what kind of deals people are getting... Thanks
  • leadfoot11leadfoot11 Member Posts: 1
    Thanks to all the posters for the valuable information. Armed with this, I'm about to go get a deal on an RX 350. Is it better to negotiate price first and then get into the lease details? I'm aware that the Cap Cost will be determined by the price agreed on. Thanks
  • dsesqdsesq Member Posts: 6
    Can anyone help me out with this dealer? I saw some positive posts for them in NJ. I am looking for an 07 RX350AWD, Premium Pack, Heated Seats, NAV maybe if deal is right?..Can anyone who leased from them please share your deal? I live in DE but will go there as they seem willing to be aggressive. Many thanks!
  • jennbbjennbb Member Posts: 10
    I just came on to post my deal from them. It's Ray Catena in Monmouth NJ. There are a few Ray Catenas in NJ & NY. This one is near Perth Amboy (furthest from me unfortunately, took almost 3 hours) They asked me to send all my CT friends, I'm sure they won't mind some from DE :-) The guy kept telling me what a good deal I got. I was like, yeah whatever, I knew there were better ones in South CA. He said they will practically lose money on a deal to make their volume bigger end of month - their bonus is based on #of cars out the door. So now is the BEST time for you to go. I bet you can do better than my deal.

    I picked up my car yesterday. (OMG - I am in LOVE!!!!) but now to the details...

    I did everything over the phone.
    2007 RX350 AWD preminum + Nav - this thing is loaded, I found features I didn't even know about.
    $45,706 MSRP
    $40,600 negotiated price
    $0 cap cost reduction
    36 month term, 12K miles/year
    59% residual (I was sure 59% was for 10K miles and 57% for 12K, other dealers had told me this so I thought they made a mistake in my favor and would catch it on the paperwork, none of which I saw since I did a phone deal. Was sure they were going to bait-and-switch when I got there. They didn't. It really is 59% at 12K.)
    money factor = .00133 (until Jan2 with tier1+ credit, score over 730)
    monthly payment = $498.00 including 6% CT sales tax.

    I'm telling you. Call them. They'll deal. I'm certain you can even do better. They told me to get the word out - so you can tell them Jenn in CT told you.

    Sorry for the long post - I am just beaming. I couldn't be happier with this car or with the dealer. The place was fabulous but zooey - they had a garage the size of a mall full of cars that were all being picked up yesterday. Beautiful dealership too.

    Can't believe I'm driving this for < $500/month.
    If I had known how much I'd love it, I would have done a 48 month lease for even less. I think I'll just buy it at end of term.

    GO - GO NOW. And post your deal. I want to see how low they'll go.
  • dsesqdsesq Member Posts: 6
    Thanks Jenn - I will follow up with them this week! I'm not in that big of a hurry, but perhaps I should be....really appreciate the details....
  • jennbbjennbb Member Posts: 10
    From what I've read, the December to Remember promotion is a good one and only until 1/2/2007. The money factor is pretty low - equates to just over 3%, not bad for a lease. So it may pay to hurry. End of month is even better.

    Good luck if you're really looking (my husband thinks you ARE the dealer looking for people to promote them online)

    Hey - if you're not, that's a great idea. They have to know about this site - how can they not?
  • dsesqdsesq Member Posts: 6
    sorry, not that devious....just looking for a good deal...appreciate the info.....
  • curvesmancurvesman Member Posts: 4
    Ethan
    Looking at your deal It seems great, I just signed the dotted line for the same car for 46,000 but my payments are 665.00 per month, want to buy from your dealer or request the same deal! What state are you in? I live in NY but went to NJ to purchase
    Thanks in advance
  • hockey81hockey81 Member Posts: 8
    The deal got a bit better. The tier 1+ credit rate with a single payment discount was .00053.
    Thus, here are the final terms for the deal:
    Lexus RX 350 AWD--premium plus package with heated seats, 18 " wheel, tow prep, mats, wheel locks. MSRP $43,056
    Purchase Price $38,800, residual 57%
    36 mo/36,000 mile lease
    money factor for single payment 0.00053
    average monthy payment $431
    tax (6%) $26
    Acquisition fee, dealer fee, registration/plates --$1,020
    Total cost $17,200
    Dealer Lexus of Greenwich

    The selling process at Lexus of Greenwich was Great--no pressure and quick. I did the bulk of the negotiation over the internet and basically went into the dealership to sign the papers. This was a big improvement over the bait and switch/salesman tactics of the Lexus dealership in Westport. I probably could have gotten a better price (about $15/month at Lexus of Larchmont) but the Greenwich dealer offers free pick-up in Fairfield county for all servicing and is significantly closer to home and work.

    For those interested in the RX 350 the December promotion expires January 2, but you can delay delivery for 30 days as long as you have a signed contract by Jan 2.
  • dsesqdsesq Member Posts: 6
    Can anyone confirm the 30 day delivery? This would be very helpful....
  • azmarkazmark Member Posts: 4
    Wanted to thank all the participants and hosts for the last two months of posts. I had shopped all the local dealers here in AZ and had really not found a satisfactory deal. Based on what I was reading here, I blanketed So Cal with emails stating exactly what I wanted (RX 350 AWD nav prem plus 12K/yr 36 mo for under $500/mo). I got mostly 'no way' emails but did find a few in CAl with a good deal. Right now I'm sitting on $514/mo with $572 drive off (first payment plus temp tags) and included delivery to me in Phx. I will have to pay local reg. This deal saved me about $4K over the lease term compared to the local deals. I'm very happy with this deal since I could only qualify for tier 1 (not tier 1 plus) financing.

    For newcomers, a few suggestions to help. First, the 350 really only comes with a few package sets so look at the MSRP as they are essentially the same across the country so you can easily compare deals this way. For example AWD/nav/prem+ is always $45,706. Second, compare both the monthly cost as well as the drive off cost. Some deals look great until you find out they paid $3K for drive off. Third, while it might seem presumptuous, don't be afraid to email a ton of dealers - someone has too much inventory somewhere and wants to deal. I only decided to do that at the last minute and am so happy I did - saved $4K. The delivery charge from Cal to AZ was minimal and added only cents to the monthly payment. Finally, listen to the hosts, they have been following all the deals for years or at lest months and can give you great insight. Good luck.
This discussion has been closed.