Edmunds dealer partner, Bayway Leasing, is now offering transparent lease deals via these forums. Click here to see the latest vehicles!

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

1…1415171920…55

Comments

  • carlovernjcarlovernj Member Posts: 77
    What is the list price (MSRP) on the car?
  • kendallcatkendallcat Member Posts: 8
    IIRC it was right at $42,000. From what I have read on this board it sounds like a good deal, and the dealership I went to needs to move some units before January 2nd so they are being aggressive.
  • carlovernjcarlovernj Member Posts: 77
    Thanks, I know how to calculate leases. I can let you know how good the deal is. Please let me know the following piesces of information:

    List Price: $42,000 (is this the exact amount)
    Purchase price: (this is part of the formula for how the lease is calculated.
    Residual %: I think its 56% for 3yrs, 12k miles/yr.
    State Tax %

    With this information, I can let you know what the monthly amount should be. I would be interested to know close the purchase price is to the invoice price.
  • kendallcatkendallcat Member Posts: 8
    Here is what I have down for the info they gave me.

    MSRP $41635
    Sales price $37465
    Money factor .00135

    $499 Lic, trans....
    $1500 down

    3 year lease at $507.74 for 12K in miles per year

    Thanks for looking at this.
  • dude12dude12 Member Posts: 1
    Here's what I've been offered. I've learned that if you apply for Lexus credit through the Lexus website, you can lock into the 'December Remember' rates for 30 day period.

    Philadelphia area. This is a lease through Lexus Financial...

    --
    MSRP $43,121.00
    Selling price $39,300.00 ($500 over invoice)

    Money down (includes first payment) $779
    Monthly payment with tax $572.79

    10K miles/36 Months
    Residual value $24,578.97 (57%)

    Money factor is 0.001550
    ---
  • jcohen17jcohen17 Member Posts: 1
    Just picked up an 08 RX 350 with the premium plus package

    MSRP 41,816.00
    Sale Price 37,298

    Lease Rate $601 due at signing first month and fees.

    Monthly Rate 530 a month tax included

    12k/36 months

    Got This Deal at JM LEXUS
  • scotty_sharkscotty_shark Member Posts: 1
    Hello All,
    I have been watching this forum and I can tell you that all these messages have been really helpful. We just took delivery of our new RX 350 and are pleased to say that we closed the deal that we negotiated with Lexus of Massapequa. They are Great about not playing any games once the deal is done!

    Here are the the stats:
    2008 RX 350 lux + NAV, MSRP 45771.00
    CapCost = $40448.00
    12k Miles
    36 month
    56% residual
    .00155 money factor (710 FICA)
    $3000 + 1st payment of $514(includes tax, bank fee, etc)

    Are we satisfied? Very much so. Quite too often dealers try and screw you somewhere in the deal (usually finance).But this dealer did not. This is our first RX and we very satisified.

    Happy New Year!

    Scott
  • carlovernjcarlovernj Member Posts: 77
    Congrats on your new RX.

    When I use the lease calculator, I am getting $499/ month vs your amount of $514.

    What do the up front fees add up to? I used $1145. (For Bank Fee, registration, license, etc).
  • jebelljebell Member Posts: 54
    Car Man,
    Can you tell me the current money factor and residuals for a 08 rx350 with prem plus and nav. 12k/yr 36 months.
    Thanks
  • erickrnerickrn Member Posts: 4
    i almost leased an rx350 with msrp of 45,550. the dealers final offer before i left was $520 a month (includes tax), $2000.00 total drive off, 15k miles a year, 36 months. good deal, but my wife wanted an mazda cx9!!! tustin california

    e
  • arbitrage1arbitrage1 Member Posts: 8
    RE: erickrn

    Is there any way you could post the money factor and residual the dealership gave you?? I cant find the january special rate anywhere on the internet. That deal you were offered sounds good to me (dont know about taxes etc).
  • lee0001lee0001 Member Posts: 37
    Can you please tell us the vehicle options?
    AWD?
    Premum?
    Navigation?
    etc?

    thanks...
  • jebelljebell Member Posts: 54
    Car man,

    I am looking at a 08 rx350 AWD, prem plus and nav. Would like to lease for 36 months, 12k miles per year. Can you tell me the current money factor and residual? Thanks.
    I have read dealers are pushing these out the door and selling for below invoice in California. Does anyone know if this is true for New Jersey?
  • jebelljebell Member Posts: 54
    Steve or tidester,

    Could you please answer post #829 if you can? Thanks.
  • arbitrage1arbitrage1 Member Posts: 8
    I leased an 08 RX350 AWD on 1/21/08. I live outside of DC. NAV, prem plus, 18 inch wheels, towing pkg and trunk mat I believe.

    MSRP 45880
    Sales price: 41500 which included all fees ($1064)
    MF: .00165 - they told me this was the best rate going, Tier 1+ (735 Fico score)
    Residual: 54% (12K miles a year)

    Love the car.
  • gabe57vgabe57v Member Posts: 1
    Hey. I just got a quote from a miami dealership for the 2008 RX350 - premium package - 12k miles/36 mos., $5k total down (including first month); $354 a month... good deal??
  • cwaynecwayne Member Posts: 81
    leasefax.com has a add in the wall street journal with lease rates under $500 per month for 36 months on the rx350 including delivery plus tax and title. i called them and the guy said this price was on the rx with premiun plus ($40,000-41000) . has anyone had any dealings with this company?.
  • arbitrage1arbitrage1 Member Posts: 8
    I have not, but unless its a very reputable company, I'd avoid 3rd party stuff.

    Take a look at this web site, its the dealership where I bought my Rx. Theyre advertising 489 a month, 2.5K down with a 43K msrp.

    http://www.pohankalexus.com/AboutSpecials

    Thats going to be in the same neighborhood as the special you found, I would imagine...
  • eights38eights38 Member Posts: 145
    arbitrage1 - I would agree with you that some third parties are shady, but there are some very strong auto brokers trying to help customers receive aggressive prices by utilizing volume incentives and strong dealer networks. I have had some good experiences in the past and am more than willing to pay a small fee to have a third party negotiate with local dealers to get me a fair price.
  • bmwnj2bmwnj2 Member Posts: 2
    Hello,
    What is current money factor, residual value for 2008 RX350 (24/36 month, 12K)?

    Thank you
  • bmwnj2bmwnj2 Member Posts: 2
    Does Lexus still offer multiple security option? Anybody with recent lease used it?
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congratulations on getting your new RX 350, Scott. I;m glad that you found this discussion so helpful. Thanks for taking the time to stop back and share the details of your lease with everyone. Real world examples like this are always helpful to others who are in the market for similar vehicles. Make sure to stop by the new Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience. Enjoy your new ride :shades: .

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Here you go, jebell. Lexus Financial Services' current buy rate lease money factor and residual value for a 2008 Lexus RX 350 AWD without the entertainment system with 12,000 miles per year are .00140 and 55%, respectively for consumers who qualify for its Tier 1+ credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey jebell. Please see my previous post for the information on this truck's lease program that you're interested in. Lexus is not currently providing any cash incentives on leases of the RX 350, so it may be difficult to get one with a capitalized cost that's below dealer invoice. Like California, New York area is a very competitive marketplace for new vehicles. If I was interested in leasing an '08 RX 350 in your area, I personally would shoot for a selling price of a couple hundred dollars over invoice.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congratulations on getting your new RX 350, arbitrage1. Thanks for taking the time to share the details of your lease with everyone. Don't forget to stop by the Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on the dealer that you got your truck from. Thanks again and enjoy your new Lexus.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi gabe57v. Let me begin by saying that $5,000 is a lot of money to put down on a lease. I always advise consumers not to make large down payments 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. You would be better off going with a zero down lease, even though it means that your monthly payment will be higher.

    As far as this lease goes, it is difficult to tell how good a deal you are getting without knowing what this truck's MSRP and selling price are. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. If you are in an area that has a decent level of competition, you should shoot for a selling price of a couple hundred dollars over dealer invoice. You can look up the invoice price of the exact model that you want by visiting the New Vehicle Pricing section of Edmunds.com.

    Once you have negotiated a selling price that you are comfortable with, have the dealer that gives it to you calculate your vehicle's monthly payment using Lexus Financial Services' buy rate lease money factor. LFS' current buy rate for a 36 month lease of an '08 RX 350 is .00140 for consumers who qualify for its Tier 1+ credit tier.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hello bmwnj2. Here's the information that you're looking for. Lexus Financial Services' current buy rate lease money factor and residual value for a 2008 Lexus RX 350 AWD without the entertainment system with 12,000 miles per year are .00140 and 61%, respectively. The numbers for an otherwise identical 36 month lease are .00140 and 55%.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hey bmwnj2. The last time that I checked, Lexus Financial Services did still offer a MSD program. If provides a .00010 money factor reduction for every extra deposit made, up to a maximum of nine.

    Car_man
    Host
    Prices Paid: Buying & Leasing Experiences Forum
  • jebelljebell Member Posts: 54
    Thank you very much. I am very thankful to have found this forum. Two dealers in NJ have told me the buy rate is .00165 and their encore rate is .00155. Do I call them on it or could have the Lexus dealers in NJ agreed to this rate?
  • christina271christina271 Member Posts: 65
    i too have been getting this run around. what dealers are you working with? when i called them out they said the .00140 hasn't been around since dec 06
  • jebelljebell Member Posts: 54
    Ray Catena, Freehold NJ
  • jebelljebell Member Posts: 54
    And Lexus of Bridgewater, NJ. You?
  • dkgaddiedkgaddie Member Posts: 2
    Thank you to everyone for the information on leasing the 2008 Lexus RX 350. We have been scratching our heads for the past week trying to figure out why the lease payment the dealer is quoting us is $638 (including taxes) when he says he is selling us the RX 350 at invoice ($38,600 for an AWD vehicle without nav or rear entertainment). The MSRP for this particular vehicle is $43,800. Here in Utah, we can only choose from 2 different packages. All vehicles sold in Utah are AWD with or without navigation. He says this monthly payment of $638 is based upon a money factor of .00255 and a residual of 58%. This money factor seems incongruent to the actual rate he quoted. He commented that my credit score qualifies for the top tier and that the associated interest rate is in the high 3's. This is also quite different from the money factor that I have been seeing on this site (.00144). Even when I crunch the numbers with the higher money factor, it doesn't crunch out to a payment of $638. I have also been reading on this site that Lexus Financial does not have a very good lease program. Help!! Maybe it is better to buy than to lease.

    Thanks in advance for your help.
  • christina271christina271 Member Posts: 65
    prestige. now the sales manager has been in contact with me and they keep insisting the MF was .00140 over a year ago. He is using .00165. i don't NEED to do anything today, next week or even next month. They started at 568 w/tax for 12000 miles and just inceptions upfront. now he came back with 538 which is still too much. how about u?
  • jebelljebell Member Posts: 54
    I don't NEED to do anything until March. Bridgewater says 563 w/tax and 800 down, gross cap cost 41000 for 08 rx350 w/ nav. Catena is at 41400.
  • dkgaddiedkgaddie Member Posts: 2
    Hello again from the Great Salt Lake,

    I thought I'd check back in to share our experience with leasing the 2008 AWD RX350. Since we had not been able to make sense of the lease payment we made the decision to purchase the vehicle outright. That is, until we sat down with the finance manager. As it turns out, the computer at the dealership automatically pulled up 2009 money factors. This is why the payment they were quoting us over the phone was so much higher than what we were calculating (using the money factor and residuals posted on this site). When they plugged in the correct 2008 money factor the payment was lowered by $55 per month. So in the end we were able to get the vehicle at invoice ($38,600), 12K miles and a monthly payment of $579. So the moral of this story is Caveat Emptor!
  • fsosfsos Member Posts: 4
    Christina: I have been following your posts. Are you saying that Prestige has offered the RX (no nav) for 538 NJ tax included with nothing but first month, bank, TTL at 12,000? This strikes me as close to as good as it can get, give or take around $10 a month. Let me know your thoughts
  • fsosfsos Member Posts: 4
    Oh, and what was the MSRP (which package ) and invoice pricing that this was based upon??? Thanks
  • cars37cars37 Member Posts: 1
    im looking for the best lease price i can find for the 2008 rx 350, 12,000 miles, tax included with navigation. Im pretty sure im getting ripped off with $653 a month for 36 months but im really not sure. thanks!
  • srose4srose4 Member Posts: 1
    I was quoted a lease price of $600 a month (tax included) for a 2008 RX350 AWD with Premium Plus, Navigation, Rear Entertainment, 18" 5-spoke Aluminum Wheels, Heated Front Seats/Rain Sensing Wipers/Headlamp Washers, Towing Prep Package, Wheel Locks, and Cargo Mat. Lease offer is 39-month, 10K miles/yr.

    I'm located in the New York/New Jersey aread. Is $600 a good lease price for this package? They started at $675. Thanks.
  • christina271christina271 Member Posts: 65
    yes, you were right about the 12k miles 36 months $0 down just inceptions with tax included from Prestige.

    the way i see it is we have an 05 mdx with the same msrp and identical lease terms that we lease for 484. there was one more model year after that before the body change, same as this rx.the price of these trucks havent changed at all during the past few years, so I would wait for the 09 if you're not in a rush to do something. I'm sure that we can get the same deals, if not better.

    the msrp was 42945 and their selling price was 38700. they kept telling me that the MF hasn't been out since 06 which was making me crazy. i was doing calculations and if they used the .00140 and sold the car for 38000 or something the price would be 498. i told the salesmanager i didn't want to pay the 538 and he goes where would you like to be under 500...490.498?He said the exact number so I'm sure that they could do that deal. I may be wrong about the selling price that they used and what I thought they should use, but I will post it again when I find the sheet I had it on. Have you had any luck??
  • jebelljebell Member Posts: 54
    Does anyone know if the February MF and residuals have changed at all? I am looking at a 08 RX350 AWD with nav 12K/36M. Thanks all.
  • jebelljebell Member Posts: 54
    Car_man;
    Are ther February MF and residuals out yet? I am looking at a 08 Lexus RX350 AWD with nav,. 12K/36M
  • socaldansocaldan Member Posts: 1
    I'm seeing who's interested in taking over a (17month) lease on an 2007 RX350 AWD fully loaded mint condition. I negotiated a great deal but would like to go back to a sports car.

    MSRP: $47K
    Payments: $567 including tax
    Months remaining: 17
    Current Mileage: 13,350 (36,000 allowed for the lease)
    Miles Allowed per month: 1,332
    Location: Santa Monica, CA
    Jet Black with Tan interior
    Navigation
    Bluetooth
    Heated Power Seats and Power Rear door
    Moonroof, Woodgrain Steering Wheel
    Backup Camera
    All scheduled service has been performed at the Lexus dealer. No scratches or wear, has never been smoked in, garage kept.
  • tomatosaenztomatosaenz Member Posts: 29
    Are Lexus' current offers for California a good deal?

    $479/mo. for the RX350 FWD with options FV, HH, NV, PT, WL, C1 and TO
    $499/mo. for the RX350 AWD with options FT, HH, NV, PT, WL, C1 and TO

    Each requires $2500 down for 12K miles per year.

    FV = Liquid Graphite Finish 18" 7-Spoke Aluminum Alloy Wheels
    FT = 18" 5-Spoke Aluminum Alloy Wheels
    HH = Heated Front Seats w/Rain Sensing Wipers
    NV = Navigation System
    PT = Premium Plus Package
    WL = Wheel Locks
    C1 = Trunk Mat
    TO = Towing Prep package

    What do you think? Would there be room to negotiate an even better deal once at the dealership?
  • cmcraigcmcraig Member Posts: 1
    It sounds like a pretty good deal (better than what we have locally). Where in California is this offer?
    Thanks
  • petermanpeterman Member Posts: 11
    Just noticed the current "Special Lease Offer" on the Lexus website. It says:

    Now through March 31st, special leases are available on the
    stylish RX and the technologically advanced RX Hybrid. For
    details, see your Lexus dealer.

    Does anybody know money factor, residual, and most of all, what a lease payment would be like in southern California at this time for a well equipped RX400h at 15,000 miles a year, 36 months? Any help would be appreciated : )
  • pm79pm79 Member Posts: 13
    While this is the advertised lease, I am not sure if the SoCal dealers are quoting these prices. Please let us know if you get the same or better deal from a local dealer.
  • neelkamalneelkamal Member Posts: 5
    Is this a good deal?

    MSRP: 45,887
    MF: 0.0014
    Negotiated price: 41,000
    First month payment and Title fee: 640
    Down payment: 2094
    Doc and Acquisition charges: 650
    Residual: 56%
    Lease trams: 36 months

    Payment without tax: 477 per month.
  • bocastephenbocastephen Member Posts: 35
    was that deal on a RX350 or a 400h?

    I'm looking for a decent lease deal on a 400h now, but I'm not seeing anything - a few quotes around 650-750/mo, which is pretty outrageous.
This discussion has been closed.

Helpful Tools

Most popular vehicles