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

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  • tomatosaenztomatosaenz Member Posts: 29
    I believe that MSRP is probably for a fully loaded 2008 RX350. I'm looking to lease the RX400h myself, with an MSRP of about 51,500. Could you please tell me where you got quotes for 650 to 750, how much down they were asking for, and for how many miles? I'd really appreciate it.
  • bocastephenbocastephen Member Posts: 35
    My local dealer gave me those mid-6 numbers based on Costco pricing, but that was last fall, and included drive-offs in the 5K range. An online broker quoted me the highest - 760/m with 1800 drive-off.

    The problem is, all the cars are arriving with nav, and I don't want that package - if I can get my hands on a car with premium+ and wood, that would knock a few grand off the cost.

    I know someone who works for Toyota corporate, but we're not close :( I want to ask them if they can do an employee deal for me, which should be right around invoice, I believe, which should put my cost in the mid-upper 5s with 1500-2000 down. Much more reasonable.
  • neelkamalneelkamal Member Posts: 5
    This was for RX350. I tried to bring them below Invoice, but they didn’t agree as this was a lease. Is that true? Are they not getting incentives for Lease deals?
  • bocastephenbocastephen Member Posts: 35
    they are lying to you - the best approach is negotiate the price without letting them know if it's a lease, cash sale or finance. When the sales agreement is done and signed, you tell them to build a lease based on that number as the cap cost.

    If they refuse, then you can tell them they're crooks and walk out...if they agree to do the deal, but change or fudge the numbers from what was agreed on, grab all the paperwork, walk out and send copies to your state's consumer affairs department.

    Unfortunately, I think it's much easier to get a below invoice deal on a RX350 than 400h in most places, simply due to supply and demand.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    HI srose4. The best way to get a good deal on a lease is to shop around and negotiate as low a selling price as possible on the vehicle that you want and then have the dealer that you decide to go with calculate your monthly payment using your vehicle's buy rate lease money factor. You never mentioned what this truck's MSRP or selling price are, so it is difficult to say how good a deal it is. You are in an area that has a decent level of competition. If I was in the market for an RX in your neck of the woods right now, I personally would shoot for a selling price of $500 over invoice and see what happens. You can look up the dealer invoice price of the exact RX that you want by visiting the New Vehicle Pricing section of Edmunds.com.

    Once you arrive at a selling price that you are comfortable with, have the dealer that gives it to you calculate your monthly payment using a money factor of .00145. This is LFS' buy rate for a 39 month lease of an '08 RX 350 leased by someone who qualifies for its top credit tier in your area right now.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi jebell. What part of the country are you in? This matters because Lexus' lease program for the RX 350 often varies by region. In the Eastern U.S., where a lot of the recent posters in this forum seem to be from, Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2008 RX 350 AWD with navigation, but without the entertainment system with 12,000 miles per year are .00145 and 53%, respectively.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi peterman. The lease payment for the truck that you are interested in will vary depending upon what its MSRP and selling price are. I will work up a sample lease payment for you using an MSRP of $45,505 and a selling price of $41,104 ($500 over invoice). According to my calculations, if you were to lease a 2008 Lexus RX 400h AWD without the entertainment system with these options through Lexus Financial Services right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment would be around $637. This will give you a ballpark idea of what to look for when shopping.

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  • jebelljebell Member Posts: 54
    Thank you. I live in NE NJ. Yesterday a Lexus dealer told me the buy rate is .00145 and residual of 55%. He also said the rate with Haan financial was .00245 with a residual of 55% but with Hann he would sell the car for $2420 less so the monthly rate would be $39 less. MSRP $45866. Selling price with LFS $41900 and with Hann $39480. Only other difference is a $495 disposition fee with Hann. BTW, doc fee is $249 which is high.
    The 09s are on the lots-are the MF and residuals the same for a like equiped car? The MSRP is $115 higher for the 09RX350AWD with Nav,prem plus, no entertainment.
  • lgarneslgarnes Member Posts: 6
    From what dealer?
  • gx470818gx470818 Member Posts: 16
    Could you people please specify whether it's RX350 or 400h when you mentioning pricing info here? It get very confusing when you don't. Thank you. :mad:
  • gx470818gx470818 Member Posts: 16
    I'm in the market for a 400h, a so cal dealer has qoute me a price for a loaded 2008 2-wheel drive for $44,900, is this a decent price? Obviously these is still more room for bargaining but is these guy being sincere? Thanks in advance.
  • iceburnztticeburnztt Member Posts: 5
    I'm aware that right now there is a $2000 dealer incentive on 08 rx350's so what im trying to find out is how likely my scenario is to being possible.

    I was hoping to haggle down the car which has a msrp of 44,000 to 38,000 which is 1k below the invoice. Have many people had luck getting the full 2k under invoice in light of this incentive?

    Secondly, I've been told that it's best to establish the price of the car and once you have an offer inform them that you are wanting to do a lease on the figure determined. How likely are they to work a lease out for 1k under invoice? I see that a stipulation of the Dealer incentive is that it can not be combined with another LFS lease offer but assuming i dont mind not qualifying for the lease offer can i just focus on the dealer incentive?

    Lastly, I havent really dealt with a lease before but what is the minimum otd you can achieve assuming top tier credit? I'm guessing at least 1st months payment + acquisition fee but I can't find anywhere that tells me exactly. Thanks for all the help sorry if the questions seem novicelike.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    No problem, jebell. The reason that the dealer can sell you the RX that you are interested in for less money if you lease it through an independent bank instead of Lexus Financial Services is that Lexus is providing $2,000 dealer cash on it right now. This cash is not compatible with the special LFS lease program, but you would be able to take advantage of it if you lease through an independent bank.

    Lexus is not currently providing any support on the 2009 RX. It is focusing its support on the remaining leftover 2008 models to help dealers clear them off of their lots. As a result, if you were to lease an '09 RX through LFS you would have to use its standard lease program. Its buy rate standard money factor for a 36 month lease is .00235 for Tier 1+ customers in your area right now. You definitely would be much better off going with the '08 model.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi gx470818. It's difficult to say whether the selling price that you were quoted for the 400h that you are interested in is attractive without knowing with its full MSRP, or better yet its dealer invoice price is. You can look up that information by visiting the New Vehicle Pricing section of Edmunds.com. Let us know what either or both of these numbers are and I am sure that someone here will share their thoughts on your deal with you.

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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi iceburnztt. If you are in an area that has a decent level of competition, I personally would not be surprised if you were able to negotiate a selling price of $1,500 under dealer invoice after taking the $2,000 dealer cash into account. Unfortunately, you would not be able to use this price on a lease through Lexus Financial Services. The two grand dealer cash is not compatible with Lexus' special lease program. If you want to use it, you would have to lease through an independent bank, which some community members have reported doing.

    On a lease through Lexus Financial Services, you would have to pay your vehicle's first month's payment, its $600 acquisition fee, and any required state taxes or fees at lease signing. You should be able to roll the acquisition fee into your truck's capitalized cost to make it part of your monthly payment instead of paying it at signing if you want. If you go with a bank other than LFS, the acquisition fee and security deposit requirements will be different.

    Car_man
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  • jebelljebell Member Posts: 54
    Prestige in Ramsey NJ
  • jebelljebell Member Posts: 54
    Thank you very much. In my area the 08s are nearly gone. Only one dealer in three (Prestige) has any. My wife ONLY wants Brandywine Mica with Black interior so I will have to go with an 09. I wish she would get a job. :D
  • jebelljebell Member Posts: 54
    In the interest of full disclosure, be aware lgarnes is a salesman at Prestige Lexus in NJ. I think everyone should know this
  • neepamodineepamodi Member Posts: 2
    Hello, I am looking to lease a rx350, and am looking for current residual values and MF for the chicago area, to calculate my monthly payments. I am looking for 10, 000 or 12K miles a year for 3 or 4 years. Is there a specific website that lists current numbers?
    Also, does anyone have typical cap costs I can expect from chicago dealerships? thanks for the help.....
  • gx470818gx470818 Member Posts: 16
    Car Man,

    According to Edmunds.com, MSRP is $48,085, invoice is $42,497, therefore this guy is quoting me $2500 above his invoice. Again my question is "is this a decent deal, a good deal or a lousy deal" Thank you.
  • lgarneslgarnes Member Posts: 6
    It's on my profile jebell , I'm sure all are aware :)
  • jebelljebell Member Posts: 54
    I do not see it on your profile for this forum. And to see the profile one needs to sign in. I did find it on your CarSpace profile. I do not believe you are trying to hide anything but I do believe members of this forum should know you are a salesman at Prestige Lexus in Ramsey, NJ. For this reason, some members may want to be careful in what they say. BTW, the next time I am in Ramsey, I will stop in and say hi. :)
  • lgarneslgarnes Member Posts: 6
    I'm sorry about that confusion jebell :) , Due to the rules and regs of this website I was warned not to advert because it is seen as soliciting. Trust me I'd love for EVERYONE to see what I do and where I am , but yes next time you are in the area, please do stop by :shades: Have a great week!
  • ctfarmboyctfarmboy Member Posts: 11
    Can anyone tell me if the $489/mth lease deal for the '08 RX350 being advertised everywhere by NY/NJ Lexus dealers is a good one?? The deal they publish is 36mths, MSRP $43,121; 12,000 miles/yr; $2,500 down.

    What would the best deal I could hope for be??
  • gx470818gx470818 Member Posts: 16
    OK, I did a little more digging and talk to the dealer about the options that come with the 2008 FWD RX400h, they are VN, PT, HH, FT, WU, & TO. MSRP: $49935, Inovice: $44059 and the offer I have on the table is $44900 which is about 900 over the invoice. Can someone tell me is this a good price or not. TIA.
  • greeneggsgreeneggs Member Posts: 1
    tv and newspaper ads are stating rx350 08 AWD with 10k for 36 months. there is also 2500 down. do you know what premium packages are included ? is the navigation system and bluetooth part of the deal for 489? Is there a disposition fee with this deal ?
  • Karen_SKaren_S Member Posts: 5,092
    A reporter hopes to speak with consumers who want to buy hybrid SUVs that are having a hard time finding them at dealerships and/or are frustrated by dealers marking up the prices on the hybrids. If you are a consumer looking to purchase a hybrid SUV, please respond to ctalati@edmunds.com with your daytime contact information no later than Tuesday, March 25, 2008.
  • hamomhamom Member Posts: 13
    Hi...I am interested in the 2009 RX350 AWD...with Navigation System. I would be looking for 36 mo, 15K miles a year. No money down...accept for fees and taxes. I would be looking to do this in April 2008. Yesterday we went to Prestige in Ramsey...they were helpful and gave me a monthly price...but didn't break it all out like I know they should. So..I wouldn't do any deal until saw all that. The price they were quoting was a monthly payment in the low $600's. Can someone help me with what my breakouts should be...and what a "good" monthly rate should be. Thank you!
  • dawavedawave Member Posts: 1
    We got the RX350, MSRP around 45000,

    Base Unite +
    Navigation System/Mark Levinson Package
    Premium Plus Package
    Heated Front Seats w/Rain Sensing Wipers

    We got $750.00 off since we drove lexus prior to this car. So they have this loyalty deduction of $750.00

    $2500 Drive off
    463+ tax = $500 monthly payment.

    We tried to talk to more dealers about it and no one can go lower about it (We were thinking about getting 2 at the time)

    So just FYI.
  • jebelljebell Member Posts: 54
    In April the Money Factor will probably change but last month I leased an 09RX350 AWD with Nav. from Lexus of Bridgewater, no cap cost reduction, $1600 OTD, for $600 month. 36 months, 12K per year. They used UNB not LFS. Ramsey will probably use Haan which I would stear clear from.
  • hamomhamom Member Posts: 13
    Thanks for the answer..forgive my ignorance...what is
    UNB, LFS, and Haan...and why should I stay away from Haan. Thanks!
  • jebelljebell Member Posts: 54
    Sorry, those are finance companies, UNB is United National Bank, LFS is Lexus Financial Services, and Haan is Haan. I have heard Haan is very unforgiving with "normal wear and tear" and has a disposition fee around $400.
  • nvnick1nvnick1 Member Posts: 9
    We're looking at the 09 RX350 awd & 08 Volvo XC90 3.2 AWD 7 pass. Can you post the April numbers for a 24 or 36 mo lease with 12k miles yr? I know Toyota has different rates/ different regions; we are in Indianapolis. I've posted the same message under the Volvo forum too. Thanks Car man.
  • jliu1jliu1 Member Posts: 1
    I am being quoted a 39 month lease with 1300 down and 592/month, 12000 miles
    any input into the value of this lease?

    TIA
  • marks1965marks1965 Member Posts: 10
    I have been trying to read the various posts and also been trying to follow Car Man's responses. I have seen prices all over the place. I am likely going to go to Lexus of Englewood shortly to attempt to lease a 2008 or 2009 RX350. I would like the navigational and rear dvd entertainment systems. 12,000 miles per year/36 months-standard lease. I've been trying to get an estimate on what the monthly payment would be, with very little out of pocket. Any suggestions.
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi nvnick1. Lexus Financial Services' April buy rate lease money factor and residual value for a 24 month lease of a 2009 Lexus RX 350 AWD without the entertainment system with 12,000 miles per year are .00190 and 62%, respectively for consumers who qualify for its Tier 1+ credit tier. The numbers for an otherwise identical 36 month lease are .00190 and 56%.

    For the sake of comparison, Volvo Finance's current buy rate lease money factor and residual value for a 24 month lease of a 2008 Volvo XC90 3.2 AWD 7 passenger with 12,000 miles per year are .00168 and 58%. The numbers for an otherwise identical 36 month lease are .00209 and 49%.

    Car_man
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  • gx470818gx470818 Member Posts: 16
    Car Man,

    Do you have similar info for the RX400H for April? Thanks
  • chpsport1chpsport1 Member Posts: 1
    We're looking at the 09 with 18,000 miles built into the lease. quotes in Rochester, NY and Larchmont NY are close around $700 with nav. No rear entertainment.
  • gr8trfoolgr8trfool Member Posts: 21
    Car_Man-

    Got a quote today from a DFW Lexus dealer showing 62% residual for a 2009 350RX on a 3 year lease. Your prior post showed this for 24 month lease period and 56% for 3 year lease. Has this changed?
  • vascovasco Member Posts: 18
    I am in process of Leasing a RX 350 and this is the quotation that I got yesterday:

    '08 RX 350 FWD
    Premium Plus
    Navigation (any difference between an 08 and 09 navigation ????? as I see that '09 mentions a new generation (GEN 5) sytem????)
    RSES (dealer install option to the head rest)
    Other usual items that are pretty much standard

    MSRP ~48K
    Negotiated Price ~41K

    Lease Terms:
    $935 drive off (includes the 1st month and DMV, etc...)
    $563 (includes tax) for 47 more months
    12K miles

    Is this is a good deal and does it sound right (for all the experts out there

    Thanks for all your help and this forum has been a HUGE help in our desicion process.
  • gr8trfoolgr8trfool Member Posts: 21
    My error....I calculated residual from the selling price of the car, not MSRP. It appears that this should always be based on MSRP from my more recent research. So residual was 56% of MSRP (62% of selling price). My bad.
  • vascovasco Member Posts: 18
    Got the new '09 RX 350 last night:)

    '09 350RX FD
    Nav
    Premium Plus
    18" 7 Spoke Wheels
    Rear Seat Ent
    Heated Seats w/RSW

    MSRP $45886 + $1000 for the dealer installed RSES
    Selling Price 38568
    + taking over 2 of my last payment for the current lease from Volvo $1120

    Total selling price $39688 +TT

    Residual was I believe at %56 and money factor was 0.00190

    TOTAL Drive off $950
    12K, 36 month lease @ $593 (includes tax)

    Good luck and hope this serves as a guide for the new prespective buyers out there.
  • gr8trfoolgr8trfool Member Posts: 21
    Just closed on lease. 2009 RX350 with premium, no nav. MSRP $41,116, dealer adds tinting front windows and a few other small goodies for no change in MSRP. $37,200 (invoice +/-$36,400). MF .00225. Dealer applied sales tax credits to lower effective sales tax rate for DFW area from 6.25% to 1.2% ($1825 savings to me). 36 month and 12,000/year. Residual 56% = $23024. Under $490/month. LFS financing. Paid the tax ($500, licensing $185) and $2100 (cap cost reduction) at signing. Also paid 1st payment.

    Possibly could have squeaked a few dollars more out, but one never knows. Couldn't get to .0019 MF (1% lower interest rate) referenced as the base rate.
  • gza001gza001 Member Posts: 2
    Car man - can you post the Lexus Financial Services' May buy rate lease money factor and residual value for a 36 month lease of a base 2008 Lexus RX 400h AWD with 10,000 miles per year?

    So far, I've been quoted a money factor of .002 and a residual of 53%. Thanks in advance!
  • gza001gza001 Member Posts: 2
    From the Lexus website:
    link title
    Special Lease Offer
    Now through June 30th, special leases are available on the stylish RX and the technologically advanced RX Hybrid. For details, see your Lexus dealer.

    I'm specifically interested in the 2008 RX 400h, but the dealers I have spoken to in the past couple of days have told me the lease terms from LFS are not very good. MF of .002 and Residual of 53%. Doesn't seem very 'special' to me.

    For a 400h w/ Navigation in the NYC area, I've been quoted an MSRP of $50k and net cap cost of $46k. For a 36 month, 10k/year lease with no money down, I'm looking at monthly payments @ $750/month (including @ $58/month in sales tax).

    This seems pretty steep to me, but I'd definitely appreciate some input from others who may have recently leased a 400h or may have spoken to a dealer about current lease specials. Thanks.
  • vantage78vantage78 Member Posts: 7
    Wow, that is barely above invoice? I am struggling to find a Houston dealer that will let a 09 RX350 (NV, PT, HH) go for less than 41k. I'm looking for invoice + $500. Any leads? TIA.
  • ks_manks_man Member Posts: 2
    I'm soon going to be in the market for a new RX350. I'm planning on leasing it.

    What are the current money factors for the lease and what are the residuals? I'm debating both 12 and 15k leases for 36 and 48 months (or something in-between).

    Are they standard numbers or do the dealers have wiggle room? I want to make sure I'm prepared when I walk into the dealership. Negotiating on the cost of the car is pretty straight forward, but I know that some dealers pad their profits with higher lease rates and lower residuals.

    Thanks.
  • rwschillrwschill Member Posts: 7
    Looking for RX350 in Wis/Minn area. Who has best prices in this area - Minn, Appleton, Milwaukee, and Madsion? Is it better to lease a 2008 or 2009 now?
    Thanks
  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Hi gx470818. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2008 RX 400h AWD without the entertainment system with 15,000 miles per year are .00200 and 50%, respectively for consumers who qualify for its "Tier 1+" credit tier.

    Car_man
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  • CarMan@EdmundsCarMan@Edmunds Member Posts: 38,514
    Congratulations on getting your new RX, vasco. Thanks for taking the time to 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 Dealer Ratings & Reviews section of Edmunds.com to share your thoughts on your recent dealer experience with others. Enjoy your new ride :shades: .

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