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

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Comments

  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi ms09. The 2008 Lexus RX 350 is not available at dealers, but I don't believe that it is significantly different than the 2007 model. The '07 RX 350 just got a new, more powerful motor and a number of interior upgrades, so I suspect that we will not see a major redesign of this model until the 2009 model year. This particular discussion is for consumers to talk about leasing an RX 350. Try posting your question in the following discussion for better feedback on when a redesigned RX will arrive: "Lexus RX 350".

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  • richzrichz Member Posts: 160
    Hey Car_man,

    I hope you didn't read my message wrong. I wasn't saying I don't believe you, I just wanted to make sure you sent me the correct numbers since 59% is also what the dealer ave me as the residual value but it just seemed a bit low.

    Thanks.
  • chirocoachchirocoach Member Posts: 1
    Thank you Todd. ;)
  • billmvbillmv Member Posts: 148
    CM......I'm sure you meant to say NOW instead of "NOT available at dealers" in your post from 3:19 AM. My Lexus dealer here in Marin County CA claims to have sold out of 2007s six weeks ago.

    Keep up the good work, and get some sleep!
  • richzrichz Member Posts: 160
    As a followup, I ended up negotiating the price of the vehicle to $40,000.
  • highfidelityhighfidelity Member Posts: 24
    Car_man,

    You were a great help in getting me info for my RX330 lease. I now need some numbers for my father.

    He is interested in a $0 down, 3 year, 12k mile/yr lease on a 2008 RX350 (better to look for a 07?). Which I have priced out at $41,746.00, figure $39k negotiated price (premium plus, no nav). Can you tell me what he should expect to pay and what the current residual and money factors are.

    Thanks!
  • marqevansmarqevans Member Posts: 29
    I am about to lease my 5th RX, a 2008 rx350 with the first level premium package, heated seats and a towing hitch/ball. MSRP $42,100 My dealer usually offers to buy me out of my lease before I reach 3 years. The lease is a 36 month 15000 mile/yr lease with nothing down and sales taxes @ 7.75% rolled into the lease. The monthly payment will be $577, or $537 if I leave a $5,000 refundable security deposit. Does this sound like a good deal?
  • oiakouoiakou Member Posts: 26
    I am considering a 27mo lease. My credit is excellent. I don't drive the car that much, so 10K/year is OK for me. Please comment whether this is a good deal or not, and suggest a place were you might be able to get better rates...

    Car: 2008 RX 350 AWD, Navigation, Premium Plus.

    I am being offered the following lease terms:
    Term: 27 mo
    residual: 71%
    Miles/year: 10K
    Money Factor: 0.00275
    Total Initial Fees: 800
    Lease-End fees: 400

    Also, can someone post any prices paid for the car above?
  • dgrahamrdgrahamr Member Posts: 20
    To get the color/features choices that my wife wants, the dealer in the Boston area (Lexus Watertown) said we really ought to order the car. That's fine with us as we have lots of time, don't mind waiting 12 weeks. The dealer said we would agree on price before placing the order, and the leasing terms would be whatever Lexus leasing terms are when the car comes in and he sells to us. That's fine with me, but only seems to work correctly if the dealer has no discretion on leasing terms. I think that's right -- I think the dealer negotiates price and sells the car to the leasing company, and that Lexus doesn't give the dealers flexibility to modify leasing terms to get the deal done. But can someone confirm this? I want to be sure I don't get nailed on ugly leasing terms if I go this route. Let's assume for this purpose I can negotiate a price I am happy with.
  • billmvbillmv Member Posts: 148
    Your dealer should lease it to you using Lexus Financial Services, so it's an in-house deal. They can use a local bank, but then you can't find out from forums like this what their money factors and residuals are. So the dealer isn't selling the car to the leasing company. You should get a better deal using LFS.

    Lexus sets the MSRP and the residual value (a function of months and miles). It also sells financing to the dealer for X. The dealer controls the selling price used in the lease calc when they cut a deal with you.

    LFS "sells" the financing to the dealer for X, which the dealer can then mark up when they use it to calc your lease payment (the "money factor"). Just like a bank does when they buy money from the Fed and turn around and lend it to you at a higher rate. So you MUST get it in writing NOW that they will use the "buy rate" money factor which happens to be in effect at the time your car arives. It changes monthly, and is set by Lexus. However, Lexus allows the dealers to mark that up to make extra profit.

    The acquisition fee (about $695, I think) is also set by Lexus, but they allow the dealers to mark that up too, so the dealer might add $200-$300 there.

    So agree on a price and insist that they use the buy rate money factor and standard acq fee.
  • spyglass1spyglass1 Member Posts: 9
    CarMan,

    Is this a good deal?

    2008 RX 350
    MSRP - $44,146
    Invoice - $38,917
    36 month, 15k/year lease
    Residual = 56%
    Money Factor = 0.00228
    No Down Payment
    Pre-tax payment = $540/month

    Thanks for your help!
  • marqevansmarqevans Member Posts: 29
    Looks pretty good compared to mine. (see message 566) What are are you in. I'm in the Chicago area. My numbers include turning in another RX early which effectively reduces the sales tax included in the lease to about $1,000. I'm picking up tomorrow, will know the exact sales tax numbers then.
  • spyglass1spyglass1 Member Posts: 9
    CarMan,

    Please advise if this is a good deal:

    2008 Rx 350
    MSRP = $45,706
    Invoice = $40,284
    36 month lease / 15k miles/year
    Residual = 56%
    Money Factor = 0.00228
    No Money Down
    $570 (pre-tax) / month
  • billmvbillmv Member Posts: 148
    spyglass1.....if it IS a good deal, what are you going to do?

    $5500 off MSRP. Sounds pretty damn good. Is that the price they're going to sell you the car at, because that's all that matters. If it's just some number that's floating in the fog then who cares what invoice is.

    56% residual is set by Lexus. The dealer doesn't control that.

    Money factor sounds good. Is that what everybody else is getting? Have you done the proper research and looked back over these postings? Doing so will tell you what the buy rate MF is for March. If it's .00228 then that's very good. If it's less, then the dealer is making money off the lease payment.

    Starting to get the hang of this?

    No money down is good.

    Using my own little spreadsheet I get $576.98 per month, pre-tax. So the math is off a little but then I don't know the intricate details of your deal.

    I'd say it's good. Jump on it. MF may slide down a bit in future months, but you can't time the market.

    Good Luck!
  • spyglass1spyglass1 Member Posts: 9
    Billmv,

    Thanks for the thoughful response...everything makes sense to me...i have done my homework...the one variable i am having a hard time nailing down IS the money factor for March...

    DOES ANYONE KNOW THE BUYRATE MONEY FACTOR FOR MARCH on the "2008" Rx 350, 36 month lease, 15k miles?

    A few facts from going through this message board that threw me off:

    1. I read through this message board and I think i came across .00228 for February....but it was unclear if it was for a 2007 or 2008.

    2. CarMan had this comment in one of his postings:

    "Lexus was providing a special lease money factor on the '07 RX 350 in February, but this program is no longer available in March. For March it moved its special money factor to the 2008 model."

    3. So now I'm thinking the "special money factor" applies to the car i'm leasing. ANd after going back thoroughly through the board...I saw someone post a money factor last December for 0.00113.

    Conclusion...if 0.00228 IS the buyrate...then I do have a good deal. If 0.00113 is the money rate, then the dealer went from making $450 off the purchase (which i can live with), to making $3,200 of my deal...which I don't want to live with...

    Long and short...I leased the car...for $570/month...i talked to many dealers and i knew it was the end of the month...and i kept hitting bottom around the same area, so i concluded that the money factor couldn't be .00113....but for my own sanity i was hoping someone could confirm the buyrate money factor for the 2008 RX 350...

    Anyone?
  • spyglass1spyglass1 Member Posts: 9
    billmv...I thought more about your response...and why there was a differance between my $570 payment and your $576 calculation...i THINK what it means is that if i got the money factor right (0.00228) then i paid less than the "acquisition fee" over invoice...is the $600 acquisition fee set in stone? Or do they have flexiblity in lowering that? If they only made $450 of my lease, then they did make less than the acquisition fee...does that mean they loss money on the vehicle or does it mean that the acquisition fee is simply a relatively arbitrary number built into most purchases?

    Thoughts?
  • richzrichz Member Posts: 160
    Sorry, I can't help you with the money factor since I don't know how Car_Man gets those numbers. Car_Man is posting in other threads so I'm not sure why he's taking so long to get here. Try to send him an e-mail maybe.
  • billmvbillmv Member Posts: 148
    spyglass.....congrats on the deal! I think you did well.

    An acq fee is built into all lease deals, whether they're through the financial arm of the manufacturer or a regular bank. It is $600 if you did the lease through LFS. LFS will not take less, and the dealer has no authority to lower it. However, the dealer CAN mark that up to make a little extra profit. They'll slide it in at $700 or $800 and hope you won't notice the few extra bucks doing so adds to the payment, and don't understand the math well enough to catch it. You can alway pay the acq fee up front if you want, with DMV fees, etc. If you roll it into the lease you'll end up paying an extra $100 or so over the life of the lease, since you have financed it. So $600 turns into $700. Very roughly. You have to have a little Excel sheet set up and run it both ways to know exactly. I'm not clear on whether the dealer gets a portion of the acq fee if it's set at the base amount. If it's marked up, I know they get that portion. It really has no bearing on whether they made money or not on your deal. Trust me, if they're writing it up, they're making enough money somewhere to make it worth their while.

    Typically the negotiated selling price plus the acq fee becomes the capitalized cost that goes into the calculation of your payment. So if you take the acq fee out, and pay cash for it at the start of the lease, it will lower your payment a little.

    If your dealer (or you) wants to use a private bank, like Bank of the West, here in CA, or you go through a private leasing company, (like Golden Bear, for all you Cal fans) then the acq fee may be different. The residual will likely come from from the Automotive Lease Guide, the bible of the car leasing biz. The money factor will come from the financial institution which is providing the money. So there can be a lot of moving parts to a deal. You really have to do your homework and figure out ahead of time exactly what the numbers should look like, so you can catch any sudden head fakes the dealer's finance mgr. might throw your way at the last minute.

    Bottom line....$6 is nothing. You did well. Enjoy your new ride!

    By the way, where are you located, and what dealership did you go through? It's always nice to let everybody know that. (But no salespeople's names. Not allowed.)

    Go Bears!
  • kfrenckkfrenck Member Posts: 5
    If you're still looking around, try southbay lexus. I just got a 400h AWD with prem package and NAV system for $44,294. Lease payments came out to $543/mth, with $5400 down for 15k miles and 36 months.
  • alipalialipali Member Posts: 2
    RX 400h AWD - no nav
    12,000 miles
    36 months
    3K cap (down)
    $550 a month

    This is in New Jersey.

    Not offey with the financial intricacies.
  • jerseyjackjerseyjack Member Posts: 13
    Where in NJ? I'm hoping this still might be out there.
  • alipalialipali Member Posts: 2
    MRRP was 47K

    This was at Prestige Lexus in Ramsay...

    ask for Harold - I haggled with them to get the price. Also, it was at the end of the month so they needed to meet their quota
  • oclexusguyoclexusguy Member Posts: 6
    Hi oiakou,

    The Miniuim is 12k/yr if you were gonna go with LFS. but the majority are 12k when you a Lease a Lexus.

    The 71% may have changed into the month of April. The Resudule value may have went down 2% but the money factor may have been lowered. you migth wanna check with your Sales consultant.

    I havent seen a 27 month but a 24 month lease. you can also do a 1 pay lease. that will help you lower the money factor.

    The Question is do you need a Awd? that will just increase your payment by almost $40. If your more of a city Driver 2wd drive is fine.

    2008 Lexus Rx350 with Nav 2wd $39,900 is a Reasonable Deal

    2008 Lexus Rx350 with AWd $ 41,300 is a Reasonable Deal

    Thanks,

    Good Luck
  • slammer5slammer5 Member Posts: 1
    Car Man or other experts,
    Want to by or lease 2007 Lexus rx 400h. Do you know current incentives, specials, money factors, holdbacks for April 2007 in Connecticut? The car I am going to negotiate on is the commonly equiped model with:
    Nav.,Premium Plus Package, 18" all-season tires and wheels, Wood Interior Trim, Heated Front Seats, the Tow Prep. Pkg (no hitch) a rear cargo mat and wheel locks. The MSRP of this 2007 RX 400h is $49,866. Invoice around $44,100? Please advise me. thanks
  • oclexusguyoclexusguy Member Posts: 6
    Hi slammer,

    There are no Incentives on 07 hybrid as of yet. since it's hot Suv. Dealers will not give away holdback.Since im in the west coast.The MSRP on the Vehicle is $48,306 Invoice is $43,287. The diffrence is the tow hitch Reciever. $44k sounds about right.

    Thanks, Good luck :shades:
  • cmx168cmx168 Member Posts: 2
    hey Buddy, can you tell me who you worked with at southbay to get that deal? Im looking to get that same car as you with that price and If i don't have to haggle that would be perfect.. please email me at mikechen168@gmail.com if you get a chance...
  • endotoothdocendotoothdoc Member Posts: 8
    Car man or anyone else,

    I'm considering a lease on an 2007 AWD Lexus 400H with:
    Navigation, Premium Plus, heated front seats with Rain-sensing windshield wipers, 18-in alloy wheels, Wood interior finish, Towing Prep Package, Cargo mats and wheel locks.

    I've gotten a quote from a Lexus dealer in Houston, TX of $46,000 sales price and a lease offers of:

    48 month (15000 per year): $859 pymt

    36 month (15000 per year): $920 pymt

    This is with no money down (all that is required is 1st pymt out of pocket). I am a first time leasee and trying to get a good deal for my wife in Texas. The sales tax there is 6.25%. Thank you in advance.

    JB
  • dukie3dukie3 Member Posts: 1
    Car man or other experts:

    I am in Jersey City, NJ and started to ask around since last week for leasing quotes for a 2008 Lexus 350 AWD, Premium Plus, and NAV.

    Here is the best offer I has got so far:

    MSRP: $45706
    Invoice: $41000
    27 months lease/10k miles a year
    Residual: 71%
    Money factor: 0.00275
    Down pay: $1515
    Monthly payment plus tax: $557

    Could you let me know if this is a good deal?

    Also, it's very likely that I will buy the car at the end of the lease. Should I expect I only need to pay the residual value + tax + registration fee when buying it from the leasing company?

    I don't drive the car to work and will only use it for weekends leisure driving, so I probably will end up with a less than 15k mileage on the car at the end of 27 month lease. I gather it make more economic sense to buy it at the residual value and then :) sell it higher on Craig's list?

    BTW, info i got here was very helpful when i cut price with the dealers because I was able to talk in their language. So thanks a lot!!!

    JZ
  • westshorewestshore Member Posts: 2
    I WOULD LIKE TO KNOW IF THIS IS A GOOD LEASE. MY DEALER SAID IT IS A LEXUS SPECIAL AND THEY MAKE NO MONEY ON THE DEAL(SURE)

    2008 RX350 2WD W/ NAV

    3900 OUT OF POCKET WHICH INCLUDES 1ST AND FEES

    36 MONTH LEASE 15K MILES 499.00 PLUS TAX BUYOUT IS 24800
    THANKS.
    PS SHOULD I LOOK AT AWD OR IS 2WD FINE. I LIVE IN FL
  • westshorewestshore Member Posts: 2
    WHAT IS YOUR BUY OUT PRICE
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, richz. No offense taken. I am sure that these residual values are accurate.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're right, the '08 RX 350 is noW available at dealers :) . That's what I get for typing before finishing my first cup of coffee. Most of the dealers in my area have been sold out of 2007 RXs for weeks as well. Toyota, including Lexus, is an amazing company. The traditional domestic manufacturers, like GM, Ford, and Chrysler have leftover models that linger for months and months, but Toyota seems to transition from one most year to the next in only a month or two. The quicker leftover vehicles are sold down, the better. The ones that linger on lots usually have to be heavily discounted, which isn't good for their residual values, the dealer that has to cut his profit to the bone, or the manufacturer that has to provide tons of incentives.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Welcome back, highfidelity. Lexus Financial Services' current buy rate lease money factor and residual value for a 2008 RX 350 AWD without the entertainment system leased for 36 months with 12,000 miles per year are .00195 and 58%, respectively. Using these numbers, an MSRP of $41,746, and a selling price of $39,000, I estimate that this car's zero down, pre-tax monthly payment should be around $534.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Wow, this is your fifth Lexus RX marqevans. Lexus should pay you to do an advertisement for it ;) . I would be happy to give you my opinion of this deal, but it would be a big help if you provided me with this truck's selling price. This number will show me how much of a discount you are being given on it. Let me know and I'll tell you what I think.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi oiakou. The money factor that you were quoted is too high. Lexus Financial Services; current buy rate lease money factor for a lease of a 2008 RX 350 by a consumer who qualifies for its top credit tier is only .00195. If your credit is in good shape, make sure that this factor is used to calculate your monthly payment. The other negotiable aspect off this deal is your truck's selling price. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. It is important to find out what the exact selling price of the vehicle that you want is before leasing it. If you tell me what this number, along with the full MSRP are, I would be happy to give you my opinion on this deal.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi dgrahamr. What you said about dealers not setting lease programs is mostly correct. If you lease this truck through Lexus Financial Services, it will determine the money factor and residual value that are used to calculate your monthly payment. Individual dealers do not have the ability to alter banks' published residual values and they cannot lower their published money factors. Notice I said that dealers cannot lower banks' published money factors. Dealers are usually allowed to "mark-up" banks money factors to add hidden profit to deals. This is why it is important to know what the buy rate lease money factor is for the vehicle that you are interested in before finalizing any deal. LFS' current buy rate lease money factor for the 2008 RX 350 is .00195 for consumers who qualify for its top credit tier. This money factor is scheduled to be available through the 4th of July. If your ordered truck comes before then, make sure that the dealer uses it to calculate your lease payment. If your truck doesn't come in until after that date, there is a good chance that its buy rate will be different. You can always check back in this discussion then for an update on what the new buy rate is.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi spyglass1. In your post you provided both this truck's MSRP and its dealer invoice price, but not its selling price. Do you know what its selling price is? This number will show how much of a discount you are being given. The money factor that you were quoted is a little on the high side. In the areas that I have seen this truck's current lease program for, its current buy rate is .00195 for consumers who qualify for its Tier 1+ credit tier. Try to get the dealer that you are working with to use that factor to calculate your monthly payment.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi alipali. I would be happy to give you my opinion on this deal, but it would be a big help if you would provide me with this truck's full MSRP and selling price first. These numbers will show me how much of a discount you are being given on it. For now I can tell you that in the areas that I have seen this truck's lease program for, Lexus Financial Services' current buy rate lease money factor for consumers who qualify for its top credit tier is .00245. Make sure that this is the factor that is being used to calculate your monthly payment.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello slammer5. Lexus is not currently providing any cash incentives on the 2007 RX 400h. It does have a special lease money factor on it though. If you were to lease this truck through Lexus Financial Services in your area right now, its buy rate lease money factor should be .00245 for consumers who qualify for its top credit tier. If your credit is in good shape, make sure that this is the money factor that the dealer you are working with uses to calculate your monthly payment.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings endotoothdoc. 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.

    The most important numbers for you to find out to ensure that you are getting a good deal are this truck's selling price and the money factor that is being used to calculate your monthly payment. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. Shop around for an attractive selling price for the RX that you want and then have the dealer that you are working with use its buy rate lease money factor to calculate your monthly payment. In the areas that I have seen this truck's lease program for, Lexus Financial Services' current buy rate lease money factor for a 36 or 48 month lease of an '07 RX 400h is .00245 for consumers who qualify for its top credit tier.

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  • endotoothdocendotoothdoc Member Posts: 8
    Thank you Car man for the help.

    I am torn now on whether to buy or lease. Agh, the age old question. As I mentioned before, the 2007 AWD 400h with premium package and NAV has been negotiated down to $46,000.

    The dealer has offered a no money down lease on a 48 month program for $859. They didn't provide me with any of the numbers that they were using to calculate that offer.

    My insurance company (USAA) is offering a 5.99% fixed rate on a car purchase with no money down for 6 years which would make the payments around $766. Choices, choices....

    Any advice?

    Thank you in advance.

    JB
  • kyfdxkyfdx Moderator Posts: 236,527
    Given those two choices, there is no way you should lease... That payment is terrible..

    I'd shop around, but if you are going to get the car from that dealer, definitely buy it..

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    Did you get a good deal? Be sure to come back and share!

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  • maximafanmaximafan Member Posts: 592
    I definitely agree with kyfdx on the lease that they're offering you. I would think on a 48-month lease, your payments should be in the 600 range for the 400h. I recall seeing payments in the 600 range in prior posts several months back. It sounds like you would be better off buying it and then maybe purchasing an extended warranty. Good luck!!
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'm glad that you have found this discussion so helpful, dukie3. In your post you mentioned this truck's MSRP and its dealer invoice, but never said what its selling price is. Are you implying that you are getting it for dealer invoice. If so, that is an excellent deal. If not, what is the selling price. This is a very important number to know when leasing.

    For now I can tell you that the money factor that you are being charged is way too high. Lexus Financial Services' current buy rate lease money factor for the 2008 RX 350 in your area is only .00195 for consumers who qualify for its Tier 1+ credit tier. Make sure that this is the money factor that is being used to calculate your truck's monthly payment.

    If you opt to buy your leased vehicle at the end of your deal, you would have to pay its residual value plus tax to Lexus Financial Services, unless you are able to negotiate a lower price than that with them.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi westshore. Without even looking at this deal I can tell you that this dealer is pulling your leg about not making any money off of this deal. Dealers always make money off of manufacturers' advertised lease payments. You never mentioned the selling price or MSRP of the RX 350 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.

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  • soulmamasoulmama Member Posts: 25
    Hi Car Man-

    Is the money factor and residual for an RX350 AWD w/navigation
    3/36k .00195 and 58% for the month of April? MSRP is $45,706, purchase price is 41,069. Thanks.
  • tacomaboytacomaboy Member Posts: 35
    I am new to the leasing scheme, but since my wife and I like to keep fresh vehicles, and don't so much mind a payment, we decided to sell her 05 Murano (42k miles) in favor of an 08 Lexus RX350.

    Since we don't keep cars for more than 3 years, we decided to give leasing a try - and after some research it seems like a good idea for us.

    My wife wants to keep her payments in the same range as her current murano (530 a month).

    We want to do a 36 month lease, no longer.

    We don't want to pay a good deal up front. First payment is fine, but I would rather not pay taxes, etc up front (6.25% here).

    Having put 42,000 miles on her car since Feb 05, we don't want to go below 18k miles per year.

    We have excellent credit (hers is a 740, mine is 700).

    Given this, and if we can get the dealer down to 38,000 (invoice about 34k, MSRP about 40,500) - what should we expect as a payment (assuming 1000 dollars at signing).

    The dealer showed me about 780 bucks a month and 1000 at signing, which seemed *really* high. I would rather buy the vehicle for that price - or better yet, just get a new Murano for cheaper!

    I realize our expectations might be a bit high, but I am confused how he could be asking so much more per month than what I am seeing people pay here... :confuse: :confuse: :confuse: :confuse:
  • richzrichz Member Posts: 160
    You need to read up on the basics of leasing. If you negotiate the price down to $38,000, you still need to tell us what the residual value is for the vehicle given the terms of your lease, as well as the money factor (basically interest rate) that he is charging you. Don't just talk monthly payment with the dealer, you need to get all those numbers I mentioned above and then we can tell you if you're getting a fair shake.

    Also, I don't know if they will consider your credit scores "excellent". I don't know what their cutoffs are but you may not qualify for their top tier credit.
  • tacomaboytacomaboy Member Posts: 35
    You may be right about our credit - though I would think a 740 was good enough for top tier.

    But the reason I did not give the money factor and residual was because I thought this was set by LFS, I believe he wsa showing me a 51% residual and a 2.5% (I think) money factor.
  • dcsure5148dcsure5148 Member Posts: 1
    Hello:

    I am considering leasing an '08 RX fwd w/no navigation. My local dealership is offering me a 36 month lease, 12k per year through Lexus Finance. Based on Tier 1 credit, I'd pay $1000.00 drive-off and a monthly payment of $550.00 (includes tax.) Could you let me know if this sounds like a good deal? I'm based in Los Angeles. Thank you.

    DCSure5148
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