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Comments
This is for AWD with NAV + $199 doc fee + tax.
I think I could have gotten a few hundred dollars more from them. If you are interested, let me know I can give you the salesman's name.
The key is for them to have the car in stock.
Best regards,
Ilya.
The quote I got was from Massachusetts. The best price I could get was 40800 for the car without tax, 199 doc fee, or registration fee. I've heard of people getting better prices, but this is the best I could find. GOod luck wiht your search.
Thanks for getting back to me. I'll let you know how I make out!
I test drove the SUV this past Saturday at Longo Lexus and the salesman did not seem interested in selling me the car. I had to ask to see the truck, the nav system, stereo system. After test driving the car, he merely handed me a brochure. I guess he didn't think I could afford it since I drove up in my 11 year old Acura Integra. If I wasn't so set on a RX350 I would buy the Acura MDX.
Please e-mail me the name & number of the salesman you worked with at Englewood Lexus. My e-mail address is:
heyub2@yahoo.com
08 RX 350 AWD Blue/Ivory from Prestige Lexus in Ramsey, NJ. VERY GOOD EXPERIENCE -- straightforward negotiating and closing the deal. Ask for the Lamb.
Same pricing as yours:
$40700 plus $149 doc plus $100 regis plus tax.
2008 RX 350 FWD
Premiuim plus package, navigation system, 18 inch wheels, heated seats with rain sensing wipers, wheel locks, cargo mat, tow prep package.
MSRP - $44,306
Dealer Invoice - $39,513
Price Paid - $38,213
Doc prep fee - $55
Sales Tax (CA 8.25%) - $3157
DMV electronic filing fee - $28
License fee - $301
CA tire fee - $8.75
Smog fee - $12
TOTAL OUT THE DOOR - $41,775
By the way, I drove in my 10 year old Toyota Avalon..so that doe not matter! good luck!
1) does this include license and registration
2) as you are in alabama how high is the demand for this car in your area, if it low i would offer 39k otd
2) what features do you want on your vehicle email me and I will tell you what to pay.
email me at peregrinator@cox.net
My wife and I are very happy with this deal!
Thanks to WEB2.0
Does the price $38,873 include taxes and license? is that an AWD or FWD?
May I ask:
with or without options (prem plus pkg, etc)
with sales tax, destination?
I heard good reviews about this dealership and Mr. Lamb.
I live in Long Island wondering if its worth the trip.
Could I say I was referred by you?
Do you mind providing your name?
Thank you
Maxine
I would recommend Lexus of Ann Arbor, MI for anyone buying a Lexus in MI. Ask for Joan Glass sales person, she was very helpful and not your ordinary sales person.
- Ashok
-'08 rx350, AWD, premium pkg w/ nav.
- 40900 + 100 doc fee, taxes, registration & tags.
Email me for salesmen's name, he was very pleasant to work with.
M.
$37122.00
2700 down
$20175 residual
money factor of .00195
15000 miles 36 month
3.O Sales tax
$549 doc fee and transfers. (I know it is nuts but that is standard in Raleigh and non-negotiable with any of the dealers.)
How can I calculate the lease?
The dealer wants $553.00 tax included.
There are two cardinal rules in leasing (1) ALWAYS establish sell price first and (2) Know how to compute the lease payment. That said, let me give you some methodology or a general framework in which to work. I'm a big believer in educating people and have a very strong academic orientation. I subscribe to the belief that if you take a man fishing, he'll eat for a day; but, if you show a man how to fish, he'll eat for a lifetime.
Check edmunds or kbb for MSRP/Invoice pricing as well as customer/dealer incentives so that you can arrive at a reasonable selling price. In leasing lingo, this is called the agreed upon value. Here are all the piece parts that you'll need in order to compute the payment...
MSRP
(V) Agreed Upon Value (Sell Price)
(S) Security Deposit Requirement (e.g., Payment w/tax rounded to the next $25 or $50)
(Q) Acquisition Fee/Doc. Fee
(T) Sales Tax Rate and the method your state uses to compute sales tax
(K) Capitalized Cost Reductions (Cash/Trade Credit)
(F) Amounts Financed (capitalized) or rolled into the lease
(M) Cost of Money (i.e., money factor/interest rate)
(R) Residual Value = Residual Factor (%) x MSRP but see 3(b) below
(N) Term (months)
Next, we'll need the following identity...
A = V + F - K
where...
A = Adjusted Capitalized Cost
Now, you're well positioned to compute the payment...
Base Payment (P) = M x (A + R) + (A - R)/N
Most states compute sales tax on the payment streams...
Payment w/tax = P x (1 + T)
Other states, like Ohio, compute sales tax on the total payments. Others, compute payment on the depreciation and, of course, there are those that compute sales tax on the agreed upon value. I used to know what North Carolina did but have forgotten. So, I'll leave that to you to figure out.
Some important things to know...
(1) Money Factor/Interest Rates...
(a) The interest rate can be estimated by multiplying the money factor (0.00XXX) by 2400.
(b) ALWAYS ask for the base rate or what is sometimes called the buy rate. Both mean the same thing. A fund provider's rates have a tiered structure. For example...
0.00150 + 0% reserves (buy rate)
0.00160 + 1% reserves
0.00170 + 2% reserves
etc.
Reserves are similar to points paid for a mortgage loan. For instance, 1% reserves means that the dealer receives compensation from the fund provider in the amount of 1% of the adjusted cap cost (excluding acquisition fee) as a reward for writing the lease at a higher rate. And so, reserves are a potential profit center for dealers. The customer never sees it because the reserves are embedded in the cost of money whether it be in the form of a money factor or an interest rate. If the dealer insists on reserves, I always deduct the dollar equivalent from the sell price.
(c) Most fund providers use a money factor. However, a few (e.g., Ford Credit, GMAC) use an interest rate.
(2) Acq Fees/Doc Fees
(a) Acquisition fees are charged by the fund provider for preparing documents and booking the lease. Doc fees are charged by dealers and are another potental profit center. Be careful, though, some dealers will add a profit margin to the acquisition fee. It's best to call a few dealers and inquire about a given fund provider's acquisition fee. Doc fees should run between $50 and $250. A $549 doc fee seems ridiculous. I would want to know what that fee includes (e.g., title/registration fees?). Otherwise, I would look for another dealer unless they're willing to lower the price.
(3) Residuals
(a) Residuals are fixed by the fund provider and can't be changed or manipulated by the dealer. The industry bench mark is the Automotive Lease Guide's (ALG) residual factors. They are the standard by which all others are judged. And so, I would want to know the ALG residual for comparison purposes. Most banks use ALG residuals. However, the finance captives often self insure their residuals and are free to set them as they deem fit.
(b) Dealer add-ons are often not fully residualized because fund providers know that dealers inflate the costs of adds. And so, they'll limit the cost of adds. For example, a dealer installed moon roof retailing for $1800 might be limited to only $1000. And so, a car with an MSRP of $30,000 before the add would have an adjusted MSRP of $31,000 after the add. It is the adjusted MSRP that the residual calculation is based.
(4) Capitalized Cost Reductions
(a) If you can avoid making a down payment, you would be well advised to do so. A car is a depreciating asset. Furthermore, if you total the vehicle, it's not likely that you'll recover all or even a portion of your down payment.
(5) Security Deposits
(a) Some fund providers will waive the security deposit in exchange for a slightly higher money factor. This is usually a bad idea. Others (e.g., BMW), will lower the money factor in exchange for multiple security deposits (MSD's). This can be a very good deal. See the BMW Series 3 forums.
Based on the data that you provided, I'll assume that $37,122 is the sell price and that $34,422 ($37,122 - $2,700) is the adjusted cap. Therefore, I'm assuming that there are no capitalized items. The base payment is calculated as follows...
P = M x (A + R) + (A - R)/N
= 0.00195 x (34,422 + 20,175) + (34,422 - 20,175)/36
= 502.21
If your sales tax rate is 3.0%, then your payment w/tax is $517.28. Apparently, something is missing if the dealer claims that the payment w/tax amounts to $553.
At lease origination, you'll pay...
1st payment + tax
Security Deposit
Acquisition Fee
Doc Fee (does it include title/registration/tags?)
Tax on down payment
License, title, fees unless this fee is already included in the doc fee. In consideration of $549, it had better!
Suggestion...
Create a one page lease proposal similar to mine found in the Infiniti, Acura TSX, and Mercedes Benz S Class forums. It will save you lots of money, time, and aggravation.
Hope this helps.
John
Medina, Ohio
1- Do I lease or buy. Lease would make sense, since I may have a greater income in 3-5 yrs and may want a bigger car. I would save more money, buying may be best.
2- Do I go for the luxury car now or later. I could go for a non luxury car (murano, highlander, explore) and get a premium package. Maybe lease it and then buy the lux in 3 yrs. Or go for it now and get the lux. if payments are not that much different.
3- I really want the lux. I think I can afford it, but I am very careful not to live above my means. That is how I maintain an 800 credit score. What model should I go with? Lexus, BMW, Acura, MB etc. I heard that lexus gives you more for your buck, so I am looking mostly at them.
I am in Orlando florida, but I am willing to go anywhere in Florida to pick up a good deal.
I know it is a lot, but I am very confuse and would love anyone's input
Thanks,
Uhic
please let where you brought your rx350 in Birmingham, al. At tom Williams lexus. what was the name of the sales person and what was mrsp.
thanks,
andy
you can contact me at peregrinator@cox.net if you have any more questions.
08 RX350 AWD
Premium Plus
Nav System
Factory DVD system
Tow Package
Factory Trailer Hitch
18" Liquid Graphite Wheels
I'm looking for the 08 RX-350 with luxury plus package. What is the best deal for this. How much did you pay for this RX with luxury plus package?
We are planning to shop for a '08 RX 350 AWD (Premium Package plus, wheel lock, all weather mats) in Northern VA.
What price should we aim for paying for the RX around northern VA (Vienna/Fairfax) area?
In this forums some people have posted that they were able to buy the RX '08 less than the invoice. Is it reasonable to ask for $1500 or $2000 less than the invoice?
Do share if you know of a good dealership where I can get a good deal.
Thanks,
CB
I see people get 6k-7k off MSRP but recently i requested quotes from lexus dealers and got nowhere near that. Let me know what deal you got.
I think that a good ballpark price to offer for an 07-08 year model would be 38500, if you email me at peregrinator@cox.net, I might be able to locate something for you. However, I will need 72 hours to get back to you. If this is acceptable I look forward to
RX 350 08 AWD
Premium Plus
Navigation
DVD (NOT a must-have)
Do you know the best price I can get in mid-west? I am in Twin Cities area (MN) but am willing to travel up to 400 miles (Chicago area) to get a good deal. I can buy anytime now but have to get it before Christmas.
Any information/help is appreciated.
thank you
2008 RX 350 FWD
Premiuim plus package, 18 inch wheels, heated seats with rain sensing wipers, wheel locks, cargo mat, tow prep package.
MSRP - $41,496
Price Paid - $36,612
Doc prep fee - $55
Sales Tax (CA 8.25%) - $3021
DMV electronic filing fee - $28
License fee - $303
CA tire fee - $9
TOTAL OUT THE DOOR - $40,028
Just thought I'd share.
ended up going to lexus of rockville, md. much more customer friendly and paid 2000 less than pohanka's "final price".
good luck.
andy1993
Specs:
FWD
Nav
Premium Plus
MSRP: $44,356
OFT: $41,500
I think the NAV is a great feature along with the bluetooth and backup camera. Think about the time, fuel and repair cost of the bumper, if (only if) you backed into something you could, would, should, but didn't see. )