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2013 and earlier Lexus RX 350 / RX 450h Lease Questions
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My office became a virtual war room. I had newspapers strewn all over the floor, quotes written everywhere, my cell phone was smoking from overuse. I was in car buying hell!
By the time I emerged soaked in sweat, I had my best deal. Longo Lexus paid for tax, title, registration and gave me $0 driveoff. I just paid $499 (including tax) for a $44,401 vehicle. 3 years, 36K miles. I lost 6 pounds, almost got fired from my job, and spent the next two days in bed.
A great deal, too!
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I just wanted to share the deal that I did today. 2009 RX350 FWD with Nav. and Luxury Value Edition, MSRP 44056, 36 mo, 30 k miles for 450/mo with MSD and out of pocket of 900. Thanks for everyone that shared their deals. It has been of a lot of help for me in negotiating with the dealers. The dealership was Newport Lexus - excellent people - very, very easy to work with and ask for Philip.
Thanks.
Anyone know what Lexus VIP Status is. Is this something with Lexus or maybe a program for specific dealers?
Anyhow insight on creating a new thread would be helpful as well.
MSRP - $44026
Sold - $38700
56% residual
3.7% money factor
bank/acquisition fee = $700
doc fee = $45
Title/reg/lic = $324
12K miles/yr 36 mo lease
I feel like I got "killed" by the fees. As for the money factor, that was the current promotion so i couldn't go any lower.....Did I get raked over the coals???? Truth is though...i love the car. It's so sweet.
Here it is:
Advertisement was
2008 Lexus PX350****
$ 399 per for 36 Month Lease = 14364
All leases are 10,000 miles per year and require the following at lease inception: 1st payment, applicable state & local taxes and tag fees, dealer processing fee of $349, down payment $3495 on the PX350, $700 acquisition fee
PX350 AWD MSRP $43,591
------------------
1st negotiated a price for 39800. Then the complicated part started. Since I've come in FULLY prepared w/ all numbers it was well over the salesperson's head and I've dealt with the Gen.Sales mgr. He offere MF which translated to 5.52%APR which I immediately declined. After some haggling MF of 0.0013 (3.12% APR) was given.Oh, my FICA is 791. I've used a VERY interesting option (if you have some extra cash and don't mind to lock it for 3 yr at a rate of return of 15%/yr ) and added a multiple security deposit of 9 monthly payment - $3375 which brought my MF down to .00058 i.e. 1.392 % APR. So, my monthly payment is 353.19. Residual is 23975. I've paid taxes on a selling price (unfortunately, that's how it's in MD, I've had the dealer to show me the official state docs on it just to make sure), 1st month payment, title/tags, 3495 downpay, 700 acquisition fee, NO dealer fee and 3375 refundable security deposit. I also redemed $1679 I've accumulated using Lexus VISA AND $750 gift certificate from Lexus for attending their driving event this summer. Since there is a promotion for Lexus Visa until 10/31 I'm receiving another $500 towards my next (in 3 years) Lexus + by paying $5000 of "drive away" amount with, again, Lexus Visa
there is another $250 for me Everything w/ paperwork has taken 5.5 hrs. I think time was well spent.
Funny, the m.f. another dealer was quoting was higher - and in the same region of CA. Which, stalled my purchase, of course, when the numbers are all over the place.
Any new lessees? Trying again either this week or towards the end of the month when things are likely to be hopping because of Turkey Day and all.
Thanks for any info...
Thanks in advance! - oh I should mention, this forum saved me $5000 on my ES350 purchase last year!
Residual: 52%
MF: 0.00095
There is also a $1K dealer cash, and some sort of a $1K coupon from Lexus that can be used toward an up-front paymt.
Yes to the .00095 mf for top tier fico scores from what I'm hearing, too.
What quotes are you getting? Mine are all over the place.
Cheers.
$495/m, 10K/y only, and no NAV. Not good at all Any advice would be appreciated. and yes, my fico is in upper 700. Looks like you are getting much better deals. Have you seen anything printed or on TV? I'm in try-state area.
I did ask one dealer about matching Rosalinday's price and he said "no way." And, this was the same dealer she used, he found no record of a purchase for that price, that day either - so not sure what's up there.
Rosalinday - if you're still reading, let us know pls!! Thanks!
I'm getting in the mid to high $37,xxx for one with Nav., $38,xxx for awd.
I just saw an invoice with the dealer numbers and there's more than 1500 in profit (holdback, finance, and tda) if they get the 1000 rebate and 1000 certificate from the manufacturer, which I think is the case. So, nobody wants to dip into that so far, assuming the manuf is kicking in the rebates/certs.
Any thoughts? Seems fair enough, they need to make money and with this economy, they seem to be giving less of it up lately. One GSM didn't want to match another dealer's quote so going to a volume dealer might help. Just my 2 cents.
Fwiw, yes - shop the '09s, better deals to the person looking to lease. Should be able to get something in the high $400s w/no down, by my calculations. www.leaseguide.com/calc.htm has a great lease calculator.
Cheers and good luck all!
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Should I pull the trigger or continue shopping, or wait for Thanksgiving/End-of-year specials? As usually the dealer is pushing saying that the price includes a coupon which will expire soon. BTW, do you know anything about this coupon expiration day.
looks like you've got a sweet, sweet deal something around $490/m before tax for a VERY good package. mind to help me find this dealership (no phone. just name, city and state). hope they still have this deal.
- MSRP $46,240
- Money Factor 0.00085
- Residual 52%
- Tax, title, tags included
- $2000 down (covers first month payment & tax)
- $617.00/month
I figure I'm getting about $2000 off MSRP, is this about what the market is giving? I'm located in Ohio.
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
How much does each security deposit decrease the MF with the lexus rx350 lease?
Have you heard of a $1000 close certificate through lexus - I saw this on the prices paid forum?
Mark
- 0 down
- 41000ish Net cap cost
- payment of $545/mo including tax
This is about 5k off MSRP, would this be about right? I'm going to a dealership in Columbus tomorrow.
I think you can get similar deal nationwide, but most definitely in Northeast.
36mo
15k mi/y
MSRP + destination $46,240
cap cost = $40,240
MF 0.00085
RV 52% (5k mi/y more)
$0 down
7.75% tax included
payment $545.00
Have this quote in writing and confirmed over the phone
Moreover, are these security deposits would be refundable if car stolen,totaled, etc.?
The only thing that sticks out is your MF of .00085. Really low. Did you negotiate it? what state are you in?
I'm in Ohio, and this is a dealer in Cleveland.
We know that we would trade it in at end of 3 years since new technology will make this car a dinasaur.
Please explain how I should negotiate with the sales mgr, who I have an apptmt with tomorrow.
I like the idea of a "one pay lease" whereby I will trade my wife's 2006 Pilot w nav and leather in (and hopefully have very little cash outlay to consummate the lease. she will need a lease with 20,ooo miles if this is possible as she drives about 22,000 miles a year usually.
I do not understand the terms such as the .00150 and 48% (does the lease mean no down payment? do I first negotiate the discounted price of car and reveal that I want a lease ? and then reveal that I have a trade-in ? Do I have to negotiate hard to get a 20,000 mile per year lease ?
A sales mgr of a distant lexus advised me that this would be good for me if I definitely would trade in 3 years and insisited on paying cash if I didn't lease (due to my bad health condition etc). HELP- - - - HELP - - - -HELP.
tHANKS IN ADVANCE.....Reddog
I negotiated between two local dealers and the other would have gone about $5 less on the payment but I went with the dealer closer to my house and with whom we have dealt with prior. I feel like I got a great deal.
MSRP: $43,591
Lease: $39,591
Residual: 44.00%
Money Factor of 0.00105
48 months/12k
$455/mo
The car has everything but Nav. Dealer says Nav is about $40 more per month. Does this sound like a good deal?
I also drove the '09 highlander hybrid today to get a comparison to the rx. I was surprised to find the interior much nicer in the Highlander. It has keyless ignition, 3rd row seating (out of the floor) and a much better center console. It seems that this is the way the '10 RX will look and its a shame I need to buy now. Anyone know why the '09 doesn't have these features?
The RX is not due to come out with the next generation body style until sometime in the Spring of '09. I'm still not sure whether the '09 RX will have third row seating or not.
The selling price of 39591 looks reasonable, you may even get them to go a bit lower - push them hard 'cause there aren't many people buying cars these days. Concern is that the numbers you supplied do not work out to a $455 payment without some upfront cash from you. Make sure you get all the numbers from the dealer, including acquisition fee (usually around $600), plus taxes and other fees. Once you have all the numbers, you may also want them to run the lease based upon 36 months. Doing so may result in a better deal.
As another person replied, the current RX is the same overall style that's been around since 2003, so other than an engine change (from 3.3 to 3.5 litres), there have not been significant changes to the RX. You won't see a third row seat in this vehicle because Lexus has two others (the GX & LX) for that. The exterior of the new 2010 RX will look pretty much like the current vehicle. Photos I've seen of the interior do not look very appealing but we should have a better idea of this later this week from photos at the LA Auto Show.
12K miles for 36 months
Navigation
Premium plus
Heated seats
18 inch tires
Tow ready package
rear entertainment
I was quoted 554 per month with everythin rolled including taxes. has anyone seen a better deal in ny area