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

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Greetings to the appropriately named rxlease. You never mentioned the selling price of the RX that you are interested in leasing. This is an important number 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 the price of the truck that you want to lease you don't know how good a price you are getting it for. The second reason is that one needs the selling price of a vehicle that they want to lease is that it is necessary 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 its selling price is.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi Ross. It sounds like you are new to leasing. If so, 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. They will explain everything that you need to know to get a good deal.

    The best way to get an attractive lease on a vehicle is to negotiate as low a selling price as possible and then have the dealer that you are working with calculate your monthly payment using its buy rate lease money factor. Lexus Financial Services' current buy rate for a 36 month lease of the '08 RX 350 is .00195 for consumers who qualify for its top credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey JT. I believe that both Lexus Financial Services and Mercedes-Benz Finance provide consumers with money factor reductions for multiple security deposits and advance pay leases. Lexus Financial provides a .00010 reduction for every additional deposit and a .00100 reduction for an advance pay lease. The last time that I checked, Mercedes-Benz Finance provides a .00007 money factor reduction for every additional security deposit and a .00110 money factor reduction for an advance pay lease.

    Car_man
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  • rostikbrostikb Member Posts: 8
    Will check it out. Many thanks!
  • 03qx03qx Member Posts: 91
    So you are saying on a one pay lease the money factor goes from .00285 to .00185?

    Also, do you have the 2008 Rx400 Lease rate and residual.

    Thanks
  • rack_las_sarack_las_sa Member Posts: 4
    hey car man,

    was wondering if you can help me out. i received this quote from a texas dealership for leasing an 08 rx 350 nav + premium.

    sell price $42,200

    36 mo
    15k miles
    $0 down, $759 due at signing
    $759/mo

    OR

    36 mo
    15k miles
    $4000 down (includes 1st pmt)
    $659/mo

    I feel like this is extremely high!? Any advice is much appreciated.

    Thanks!
  • rostikbrostikb Member Posts: 8
    Hi Car_man. Can you please explain to me what is meant by "one pay leases"?

    Thanks.
  • rack_las_sarack_las_sa Member Posts: 4
    one pay lease means you pay for the lease up front, in one lump pmt.
  • rack_las_sarack_las_sa Member Posts: 4
    hey car man,

    was wondering if you can help me out. i received this quote from a texas dealership for leasing an 08 rx 350 nav + premium.

    sell price $42,200

    36 mo
    15k miles
    $0 down, $759 due at signing
    $759/mo

    OR

    36 mo
    15k miles
    $4000 down (includes 1st pmt)
    $659/mo

    I feel like this is extremely high!? Any advice is much appreciated. I am supposed to sign on this car in 2 days!

    Thanks!
  • 03qx03qx Member Posts: 91
    CAR MAN

    Please , I need 2007 and 2008 Rx400h Money factor & Residuals. Both AWD & FWD.

    Thanks
  • leroybrown71leroybrown71 Member Posts: 26
    Hi Car man,

    Just wanted to verify that this info is still current:
    2008 RX350 FWD ( no dvd or nav )
    36 month, 12k miles / yr
    .00195 / 63 %
    and

    24 month / 12k miles / yr
    .00195 / 57%

    I just got quoted a ridiculous payment on one of these puppies and I just want to have my facts straight before going back in there. I was quoted .00295, $910.36 due at signing, $774/mo, on a $40891 MSRP RX350.

    Needless to say, I know they're off their rocker, but I just wanted to verify my info before hammering away.

    Thanks Carman - you rock!

    LB
  • leroybrown71leroybrown71 Member Posts: 26
    Sorry, forgot to ask:
    What fees does LFS charge? Aquisition / sec deposit, etc?

    Thanks!
  • rack_las_sarack_las_sa Member Posts: 4
    re: leasing rx350

    $774/mo is ridiculous!

    I was just quoted $597/mo for 36 months. $0 down. Exact same MSRP.
  • jtfiorejtfiore Member Posts: 16
    Thanks for the info Car_man. I'll use it next time I'm at my Benz dealer, which if my wife has her way will be very soon.
  • smalkinsmalkin Member Posts: 8
    Car_Man Need 2008 Rx400h AWD+FWD Residual and Money Factor on a 36 mo 12k Lease. Thanks
  • carlovernjcarlovernj Member Posts: 77
    I will be test driving the RX 350 this weekend in NJ. If I like the vehicle, I would be interested in leasing over 36 months. I would want AWD with Premium plus luxury package, navigation, 18" wheels. The MSRP is $45,706.

    The invoice is probably around $40k or so. What would be a good purchase price? I didn't know if there were any current dealer incentives which they are getting from Lexus corporate. I was reading about people getting below invoice, but there must have been incentives which the dealer was getting.

    Thanks so much, any help would be greatly appreciated.
  • carlovernjcarlovernj Member Posts: 77
    Does anyone know the October money factor and 3 yr depreciation for the RX 350? I am not sure if its worth waiting for the "December to Remeber" event. The interest rate might be better in December, offset by a slightly worse depreciation. In addition, I don't think there are any current dealer incentives, ie. holdbacks, etc. If there are any, I would greatly appreciate if you can let me know.

    Any suggestions would be greatly appreciated.
  • h2_hummerh2_hummer Member Posts: 5
    Hey guys, newbie, so be nice.

    Buying a 2008 RX350 with Nav, Heated Seats, 7-spoke wheels, Premium Plus, Tow prep, Cargo mat, wheel locks, MSRP=$44,416.

    First dealer offer = $41,416 ($3000 off sticker). I know Invoice is $39,133. I am in Raleigh, NC, so only 1 dealer.

    Anyplace in nearby states, where I might be able to get a better deal? I see some of you getting close to Invoice.

    Thanks for any help.

    regards...chris
  • smalkinsmalkin Member Posts: 8
    In Los Angeles, my friend got the same msrp 2008 Rx350 for $ 5800 off !!!
  • carlovernjcarlovernj Member Posts: 77
    Thanks everyone - I have learned so much from this website.

    I was just provided the below lease amounts for the RX 350 with prem plus, navigation, etc. When I calculate the lease, I am getting a monthly amount of $531.90. The dealer is showing $537.73. I am subtracting the Cap reduction from the negotiated price. Does that make sense?

    Here is your break down from the dealer:
    List ............... $45866
    Residual......... 58%
    Money Factor.. .00195
    Selling Price .. $41452
    Cap Reduction. $1618
    Bank fee ........ $600
    Registration ... $320
    Doc Fee........ $198.50
    Credit Bureau. $18.50
    NJ Tire Tax ....... 7.50
    1st Payment .....$537.73
    Total out of pocket 3300.23
  • hybriderhybrider Member Posts: 25
    Car man,

    I have been offered a deal on a 2008 Rx 400h AWD stickered at $49950 for $44500. I am looking for a 24 or 36 month lease, 15k miles and a $2500 down payment. What kind of payment should expect? I have excellent credit.
  • njdriver1njdriver1 Member Posts: 97
    Where are you located? I was offered $47,000 for the same car. I have little negotiating power since there is no inventory in my area and we were very picky about color.

    The lease deal I was offered was pitiful. 50% residual for 36mo and 15K per year resulted in $830 per mo. This doesn't even include the dealer installed options which can't get residualized (is that a word?).

    We're high mileage types and are considering extending the warranty to 6 yr/70,000m for $1,650. If we weren't committed to a hybrid, I'd walk.
  • hybriderhybrider Member Posts: 25
    I am in Florida....the dealer is a friend. It looks like the lease deals are lousy right now. I might wait for the December deals.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello rack_las_sa. The truck that you described has a spread of around $5,000 between its full MSRP and its dealer invoice price. You never mentioned what this truck's MSRP is, but I would personally shoot for a $4,000 or so discount if I was in the market for one right now. You should be able to get a good idea of how much you will have to pay by stopping by the following discussion: "Lexus RX 350 Prices Paid and Buying Experience".

    Once you have arrived at a selling price that you are comfortable with, have the dealer that gives it to you calculate your monthly payment using Lexus Financial Services' current buy rate lease money factor of .00195 (for consumers who qualify for its top credit tier).

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi rostikb. "One Pay Lease" means that the entire cost of the lease is paid for in advance rather than with monthly payments.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here's the information that you're looking for, 03qx. This truck's lease program varies by term and mileage allowance. You never mentioned what either of these variables are, so for now I will assume that you are interested in a 36 month lease with 15,000 miles per year. Let me know if you want something different. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2008 RX400h AWD with 15,000 miles per year are .00255 and 54%, respectively for consumers who qualify for its top credit tier. The numbers for an otherwise identical lease of an '08 RX 400h 2WD are .00255 and 53%. Lexus is no longer providing lease support on the 2007 RX400h. You could lease one through LFS if you wanted to, but you would have to use its standard lease program.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Thanks leroybrown71. Lexus Financial Services' special lease money factor for the 2008 RX 350 is still .00195 for consumers who qualify for its top credit tier. Its October residual values for a base '08 RX 350 FWD with 12,000 miles per year are 57% for 36 month and 63% for 24 month terms.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey leroybrown71. LFS charges a $600 acquisition fee on every vehicle that it leases. I believe that it will waive its security deposit requirement for free for consumers who qualify for its top credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, jtfiore. Good luck in your negotiations. Let me know if you have any other questions.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go, smalkin. Lexus Financial Services' October buy rate lease money factor and residual value for a 36 month lease of a base 2008 Lexus RX 400h AWD with 12,000 miles per year are .00255 and 56%, respectively. The numbers for an otherwise identical lease of a base RX 400h 2WD are .00255 and 55%.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi carlovernj. In an area like New Jersey that has a good level of competition I personally would shoot for a selling price of $500 or slightly more over dealer invoice on a 2008 Lexus RX 350 right now. Make sure to stop by the "Lexus RX 350 Prices Paid and Buying Experience" discussion to see how much other community members have paid for their RX 350s lately.

    Lexus was providing dealer cash on leftover 2007 RX 350s a couple of months ago, but it is not currently providing any cash incentives on the 2008 RX 350. It is running a special lease program on the '08 model.

    Car_man
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  • carlovernjcarlovernj Member Posts: 77
    Car_Man,

    Thanks so much for the reply, you are so helpful.

    I have two questions that I hope you can answer:

    1) What is the dealer invoice for a 2008 RX 350 AWD, MSRP: 45,866 (Prem plus, nav, 18" 7 spoke wheels, heated seats w/rain sensoring wiper, towing prep, cargo mat, wheel lock). I think the invoice is around $40,400, can you please confirm.

    2) I got a 36 month lease quote from a dealer (10k miles/yr):

    When I calculate the lease, I am getting a monthly amount of $531.90. The dealer is showing $537.73.

    Here is your break down from the dealer:
    List ............... $45866
    Residual......... 58%
    Money Factor.. .00195
    Selling Price .. $41452
    Cap Reduction. $1618
    Bank fee ........ $600
    Registration ... $320
    Doc Fee........ $198.50
    Credit Bureau. $18.50
    NJ Tire Tax ....... 7.50
    1st Payment .....$537.73
    Total out of pocket 3300.23

    Car_Man - Can you please tell me what monthly amount you are getting?

    Thanks so much for your help, I really appreciate it.
  • njdriver1njdriver1 Member Posts: 97
    My Lexus dealer showed me a sheet captioned "LFS Lease Rates Through Oct 31" that had different numbers than we're discussing here. In # 741 above you say for a 36 mo lease and 15k per year the mf is .00255 and the residual is 54%. The dealer claims its .00244 and 50%. This results in a significant difference in the monthly payment. Am I missing something? Thanks Car Man.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You make a very good point about any improvement in the RX's money factors being at least partially offset by lower residual values in December, carlovernj. Lexus Financial Services' current buy rate lease money factor for the 2007 RX 350 is .00195 for consumers who qualify for its top credit tier. Lexus is not currently providing any cash incentives on this model.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    I'm glad that you've found this discussion so helpful, carlovernj. I just worked up a lease payment using the numbers that you provided in your post and I came up with a pre-tax monthly payment of $531.12. I'm not sure why the dealer is getting a number that's $6 per month higher.

    I see that you are considering making a capitalized cost reduction on your lease. I always advise consumers not to make cap cost reductions when leasing. Those who make them risk losing part or all of them if their vehicle is totaled in an accident or stolen and never recovered. Even though your monthly payment would be a little higher, you would be better off going with a zero down lease.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Let's work up a payment on this truck and see what we come up with, hybrider. According to my calculations, if you were to lease a 2008 Lexus RX 400h AWD without the entertainment system that has an MSRP of $49,950 and a selling price of $44,500 through Lexus Financial Services for 24 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $757. The payment for an otherwise identical 36 month lease is $670. I calculated these as zero down leases because it is not a good idea to make large cap cost reductions, but if just in case you're interested, the payments for leases with $2,500 down would be $646 for 24 months and $594 for 36 months.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    You're very welcome, carlovernj. You can look up this vehicle's exact dealer invoice price in the following section of this site: Edmunds.com 2008 Lexus RX 350 Pricing.

    I believe that I worked up a lease payment on this truck for you a couple of posts ago. Please scroll back a few for the results of my calculations.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hmmmmm, njdriver1, I don't know where the dealer that you are working with got that sheet from, but through October 31st, Lexus Financial Services' buy rate lease money factor and residual value for a 36 month lease of a 2008 RX 400h without the entertainment system with 15,000 miles per year are .00255 and 54% in your area.

    Car_man
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  • carlovernjcarlovernj Member Posts: 77
    Thank you Car_Man. Unfortunately Edmunds does not provide invoice pricing for the 2008 RX 350. It does for the base car, but none of the options.

    As far as my other post regarding the lease payment of$537.71, This quote was with tax. Your calculation of $531.12 was pre-tax. I am coming up with $531.90 with tax. Keep in mind, my $3300 out of pocket was covering $1618 for cap cost reduction (which I am subtracting from purchase price of car), $1145 was going towards up front fees (bank fee, registration, etc) and $537.71 was going toward first month payment. Please let me know if you are coming up with my amount $531.90 or dealer $537.71 with tax.

    Thanks so much.
  • sevensummitssevensummits Member Posts: 1
    I was just quoted on a 2008 Lexus RX400h that is arriving at the dealership today. I put down $5,000, and the quote was $759/month for 36 mos./12k mpm or $695/month for 48 mos./12k mpm. I didn't really want the DVD NAV system option, but the dealer tells me that's the only way they are coming in from the factory. So, even assuming this car is fully loaded (by the way, I am also having them install an after-market DVD entertainment system that costs about $2k and is not yet factored into the lease), based on what I have read in this forum, is this even anywhere close to a fair deal? Sounds like it's not, and I would appreciate any advice. Many thanks in advance!
  • njdriver1njdriver1 Member Posts: 97
    Thanks Car_Man
    There seems to be a communication problem with my sales agent. The MSRP is $49,975 and the selling price is $47,000. Including tax I get $796 per month - does this look correct. He quoted me $830.

    Other dealers have confirmed Car_Man's rates. I don't think my dealer is being deceptive, I think he's just practicing bad math.
  • wantabentleywantabentley Member Posts: 31
    Car Man,

    Can you tell me the latest Lexus Financial money factor (best credit) and residual for 24 month lease with 10k/year. Also, what is the percentage off of MSRP or dollar amount above invoice that should be paid for the RX350. Thanks.
  • jmgoldsmithjmgoldsmith Member Posts: 18
    I'm about to purchase a 2008 RX 350, and I'm seeking some feedback about the lease terms I've been offered. The MSRP on the model I like is around $45K, and I've negotiated a net cap cost of around $41K. On a 4-year lease (15,000 miles / year), the dealer has offered a money factor of 0.00225 (5.40%) and a residual value of 44%. Are these competitive? If not, what money factor and residual value should I attempt to get? Thanks in advance for the feedback.
  • jmjones99jmjones99 Member Posts: 1
    Car Man,

    Any assistance you can provide would be very much appreciated.

    Leasing an RX 350 AWD w/Performance package, heated seats
    MSRP - $41,796
    Cap Cost - $38,768
    Less Trade - $25,500 (returning 2005 RX 330 which was on a 3 year lease, balance due is $23,500 so dealer buying it from me to resell and providing credit
    Adjusted Cap - $37,495

    L.E.V. Rate - 57% - $23,824
    Annual miles - 12,000
    Money Factor % - 0.00245
    Term - 36 months

    Payment - $530
    Cash at closing - $1,702 (UP-Frt Lic/Doc $554, Tax Title $618, First month payment $530)

    2 quick questions: What's your impression of this deal?

    With a balance due of $23,500 on my 05 RX 330 lease, I could buy the vehicle for approx. $25,000 (tax of 6.5%). Most 2005 RX 330s are selling for over $28,000 in the newspaper so would you recommend selling this by myself or go with deal above?

    Thanks in advance - you're helping a lot of people. Take care, Jim J
  • avgjoe1avgjoe1 Member Posts: 5
    Car Man

    Has LFS improved terms for November 2007 on either the Rx 350 or Rx 400h?

    In Oct 2007, I confirmed Rx 400h AWD 3yr 15k mi @ 54% RV and 0.00255 Tier 1+ wholesale money factor. LIF was $600.

    FYI - best deal they were willing to do was $1.8-$2.0k over "dealer" invoice (i.e. incl. Dest Charge of $765 and LDA of $532). Specifically, on a 2008 9444 (PT,NV,WU,HH,FT,Z1,TO) they would do $46.7k+/- $0.1k versus invoice of $44.7k (MSRP of $49.97k). I calculate their true cost at $42.2k before Dest & LDA, based on 2.5% for holdback and reserves.

    What do you think of their deal?
  • newbie23newbie23 Member Posts: 3
    i am planning on leasing one of these in the nyc area and have the following questions:

    - is this is a good time to lease this car? Doesn't lexus always run some kind of holiday sales event, implying better to wait until december?

    - i believe that lexus had some sort of october lease promo(?) on this car. what is the factor for november compared to october? (i assume the residuals would not change?)

    -what should i expect to pay for the car relative to msrp and invoice and how does this compare to the 350? ie, would i expect to pay more relative to invoice for a 400 than i would for a 350? (ie, is the 400 a hot car and therefore less discounted?)

    - all else being equal, are the residuals on the 350 and the 400 the same?

    -at this time, should i expect a lower monthly on a 48 month lease than a 36?

    thanks carman for the help!
  • jim53jim53 Member Posts: 118
    Car_man,

    what is the current residual and mf for a 36 month 12K per year lease on the RX330? Are there more competitive 39 month numbers as well. Also, do you know how the current multiple security deposit program works for Lexus?

    Thanks
  • johndem1350johndem1350 Member Posts: 2
    Car Man,

    I live out in Orange County, CA and interested in leasing the 400h FWD, with premium and navigational system. I'm looking at 3yr, 15,000 miles. How much is the money factor and RV in my area?

    Plus, anyone out there getting less than $1000 over invoice? I've gotten that offer ($44515) from South Bay Lexus. Much appreciated...
  • koberrykoberry Member Posts: 28
    Carman:

    You've helped me secure terrific deals on my last two leases - thanks for the service you provide here! My RX330 lease is up and I'm looking for help in negotiating my next vehicle. Can you provide the November money factor and residual for the following lease?

    2008 Lexus RX350 -
    36 mo lease
    15,000 mi/yr

    When I last checked these boards in 2004/5, residuals were often different (and usually lower) for cars with a NAV package - is this still generally the case?

    Thanks,

    Ken
  • amybwhiteamybwhite Member Posts: 3
    Could you please tell me what the money factor and residual would be on an RX 350 Front Wheel Drive with Navigation System during the December to Remember Sales Event.

    36 month lease
    15,000 miles per year.

    This is my first time trying to lease from Lexus, and I could use all the help I could get. I currently have a quote of $40,998.00, (MSRP was $44,466). Is this good? What I am really needing to know would be my montly payment on this vehicle for the 36 month lease I talked about above. Thanks for any help you could give me!!!
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