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Car Buying Advice - Is it a good deal on a 2017 RX 450h?

hangyu1214hangyu1214 Member Posts: 4
edited March 2017 in Lexus
Hello, New to the forum. Just leased a RX450h from Rockville,MD. I live in McLean, VA.
MSRP : $58,163
Negotiate Price(with 500 dollar rebate): $51,363
Doc fee : $300
Tax : $2,144.01
Non Tax Fees: $1,032
Total balance: $54,839.01

With 0 down and Tax and fees rolling in, I have $652 for 39 months(12,000 miles)
The financial guy told me the Residual value is 61% ($35,479 to buy off after the lease end), I don't know the money factor.
And since my credit score is average, my final payment ended up at $696.25
1. Is this a good deal?
2. From Lease Agreement, they remarked the Estimated official Fees and Taxes from $2310.18 to $7506.88. What does this mean?
3. How much property tax do I need to pay in the future?

Best Answer

Answers

  • kyfdxkyfdx Moderator Posts: 235,188

    Hello, New to the forum. Just leased a RX450h from Rockville,MD. I live in McLean, VA.
    MSRP : $58,163
    Negotiate Price(with 500 dollar rebate): $51,363
    Doc fee : $300
    Tax : $2,144.01
    Non Tax Fees: $1,032
    Total balance: $54,839.01

    With 0 down and Tax and fees rolling in, I have $652 for 39 months(12,000 miles)
    The financial guy told me the Residual value is 61% ($35,479 to buy off after the lease end), I don't know the money factor.
    And since my credit score is average, my final payment ended up at $696.25
    1. Is this a good deal?
    2. From Lease Agreement, they remarked the Estimated official Fees and Taxes from $2310.18 to $7506.88. What does this mean?
    3. How much property tax do I need to pay in the future?

    1) Without knowing the money factor, and your credit tier, no way to know for sure. With the base MF of .0011, I get $596/mo. It's possible they marked up your money factor, in addition to the bump for lower credit tier.
    2) Truth in lending laws make them estimate the total taxes and fees over the life of the lease. It really doesn't mean anything
    3) No way for us to know your local property taxes

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  • hangyu1214hangyu1214 Member Posts: 4
    they use equifax , and my score is 697 which is the fourth tier. They kicked me up to the third tier.
  • hangyu1214hangyu1214 Member Posts: 4
    kyfdx said:

    Hello, New to the forum. Just leased a RX450h from Rockville,MD. I live in McLean, VA.
    MSRP : $58,163
    Negotiate Price(with 500 dollar rebate): $51,363
    Doc fee : $300
    Tax : $2,144.01
    Non Tax Fees: $1,032
    Total balance: $54,839.01

    With 0 down and Tax and fees rolling in, I have $652 for 39 months(12,000 miles)
    The financial guy told me the Residual value is 61% ($35,479 to buy off after the lease end), I don't know the money factor.
    And since my credit score is average, my final payment ended up at $696.25
    1. Is this a good deal?
    2. From Lease Agreement, they remarked the Estimated official Fees and Taxes from $2310.18 to $7506.88. What does this mean?
    3. How much property tax do I need to pay in the future?

    1) Without knowing the money factor, and your credit tier, no way to know for sure. With the base MF of .0011, I get $596/mo. It's possible they marked up your money factor, in addition to the bump for lower credit tier.
    2) Truth in lending laws make them estimate the total taxes and fees over the life of the lease. It really doesn't mean anything
    3) No way for us to know your local property taxes
    they use equifax , and my score is 697 which is the fourth tier. They kicked me up to the third tier. Which brought my payment from $652 to $696
  • hangyu1214hangyu1214 Member Posts: 4
    kyfdx said:

    kyfdx said:

    Hello, New to the forum. Just leased a RX450h from Rockville,MD. I live in McLean, VA.
    MSRP : $58,163
    Negotiate Price(with 500 dollar rebate): $51,363
    Doc fee : $300
    Tax : $2,144.01
    Non Tax Fees: $1,032
    Total balance: $54,839.01

    With 0 down and Tax and fees rolling in, I have $652 for 39 months(12,000 miles)
    The financial guy told me the Residual value is 61% ($35,479 to buy off after the lease end), I don't know the money factor.
    And since my credit score is average, my final payment ended up at $696.25
    1. Is this a good deal?
    2. From Lease Agreement, they remarked the Estimated official Fees and Taxes from $2310.18 to $7506.88. What does this mean?
    3. How much property tax do I need to pay in the future?

    1) Without knowing the money factor, and your credit tier, no way to know for sure. With the base MF of .0011, I get $596/mo. It's possible they marked up your money factor, in addition to the bump for lower credit tier.
    2) Truth in lending laws make them estimate the total taxes and fees over the life of the lease. It really doesn't mean anything
    3) No way for us to know your local property taxes
    they use equifax , and my score is 697 which is the fourth tier. They kicked me up to the third tier. Which brought my payment from $652 to $696
    I show .00245 MF and $717/mo. with those numbers. That's off, but not way off.
    It's expensive to lease with less than top tier credit.
    Thank you!
  • easypareasypar Member Posts: 191
    Nice discount. I just leased a 450h in Colorado, close to the same msrp and I got a total of about $3,000 off, including the $500. I had a 2014 bmw I traded in for $21,000 and did a one payment lease for about $3,400. Our taxes in Colorado are different than Virginia. Nice negotiating on the price.
  • hairysodahairysoda Member Posts: 97
    Please what is tbe money factor and residual on s 2017 rx450h and are there any rebates
  • kyfdxkyfdx Moderator Posts: 235,188
    hairysoda said:

    Please what is tbe money factor and residual on s 2017 rx450h and are there any rebates

    Lexus numbers are regional. Which state?
    What term and mileage?

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  • srini31srini31 Member Posts: 6
    edited December 2017
    Hi ,
    is this a good deal for lease i am getting from dealer in PA .

    RX 450h

    308-hp 3.5L V6 Hybrid
    Continuously Variable
    All-Wheel Drive
    Eminent White Pearl
    Noble Brown Leather
    BASE MODEL
    $53,035
    Packages and Options
    $1,800
    20" Gray Metallic Machined Finish Alloy Wheels
    $1,170
    Navigation System W/12.3" Color Multimedia Display
    $430
    Touch-Free Power Rear Door
    $200
    Manufacturer Destination Charge
    $995
    MSRP (STICKER PRICE)
    $55,830
    Dealer Discount
    −$3,679
    LEXUS PRICE
    $52,151
    Trade-In Value Applied
    –$6,500
    Manufacturer Rebate
    −$1,800
    Term
    36 months
    Annual Mileage
    12,000
    Residual Value (56%)
    $31,265
    TOTAL DUE AT SIGNING
    $3,750
    First Month's Payment $432
    Registration & Fees $748
    Sales Tax $909
    Capitalized Cost Reduction $8,161
    Trade-In Applied −$6,500
    MONTHLY PAYMENT
    $431.74

  • MichaellMichaell Moderator Posts: 240,060
    srini31 said:

    Hi ,
    is this a good deal for lease i am getting from dealer in PA .

    RX 450h

    308-hp 3.5L V6 Hybrid
    Continuously Variable
    All-Wheel Drive
    Eminent White Pearl
    Noble Brown Leather
    BASE MODEL
    $53,035
    Packages and Options
    $1,800
    20" Gray Metallic Machined Finish Alloy Wheels
    $1,170
    Navigation System W/12.3" Color Multimedia Display
    $430
    Touch-Free Power Rear Door
    $200
    Manufacturer Destination Charge
    $995
    MSRP (STICKER PRICE)
    $55,830
    Dealer Discount
    −$3,679
    LEXUS PRICE
    $52,151
    Trade-In Value Applied
    –$6,500
    Manufacturer Rebate
    −$1,800
    Term
    36 months
    Annual Mileage
    12,000
    Residual Value (56%)
    $31,265
    TOTAL DUE AT SIGNING
    $3,750
    First Month's Payment $432
    Registration & Fees $748
    Sales Tax $909
    Capitalized Cost Reduction $8,161
    Trade-In Applied −$6,500
    MONTHLY PAYMENT
    $431.74

    We do not recommend using trade equity to buy down the payment - that money would be lost if the car is stolen or totaled.

    Ask the dealer what adjusted cap cost they are using for that payment quote, and have them requote you using the trade equity for only the first payment and any registration costs.

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  • srini31srini31 Member Posts: 6
    edited December 2017
    Thanks .i am planning to goto dealer and talk with him this weekend .
    Currently i am getting these from his online site as its a upfront pricing dealer .
    what no.s i need for calculating adjusted cap cost ?

    This is the quote i see when i remove trade in costs

    RX 450h

    308-hp 3.5L V6 Hybrid
    Continuously Variable
    All-Wheel Drive
    Eminent White Pearl
    Noble Brown Leather
    BASE MODEL
    $53,035
    Packages and Options
    $1,800
    20" Gray Metallic Machined Finish Alloy Wheels
    $1,170
    Navigation System W/12.3" Color Multimedia Display
    $430
    Touch-Free Power Rear Door
    $200
    Manufacturer Destination Charge
    $995
    MSRP (STICKER PRICE)
    $55,830
    Dealer Discount
    −$3,679
    LEXUS PRICE
    $52,151
    Manufacturer Rebate
    −$1,800
    Term
    36 months
    Annual Mileage
    12,000
    Residual Value (56%)
    $31,265
    TOTAL DUE AT SIGNING
    $0
    First Month's Payment $735
    Registration & Fees $764
    Sales Tax $36
    Capitalized Cost Increase $-1,536
    MONTHLY PAYMENT
    $735.38

    Registration & Fees include $55.75 DMV fee, $138 documentation fee, $5 tire fee, $15.15 electronic filing fee, $389 processing & handling fee and $76 local tax. Security deposit waived. The capitalized cost of your lease is the Lexus of Lehigh Valley Price plus $795 lease acquisition fee.

    Payment subject to approval of credit with a credit score of 720 or higher and includes all taxes and fees and any manufacturer rebates. The monthly payment includes $55 sales tax and $795 lease acquisition fee paid over 36 months. At the end of your lease, a $350 disposition fee may be due.
    12,000 miles per year with $0.25 per mile overage charge.
  • kyfdxkyfdx Moderator Posts: 235,188
    srini31 said:

    Thanks .i am planning to goto dealer and talk with him this weekend .
    Currently i am getting these from his online site as its a upfront pricing dealer .
    what no.s i need for calculating adjusted cap cost ?

    This is the quote i see when i remove trade in costs

    RX 450h

    308-hp 3.5L V6 Hybrid
    Continuously Variable
    All-Wheel Drive
    Eminent White Pearl
    Noble Brown Leather
    BASE MODEL
    $53,035
    Packages and Options
    $1,800
    20" Gray Metallic Machined Finish Alloy Wheels
    $1,170
    Navigation System W/12.3" Color Multimedia Display
    $430
    Touch-Free Power Rear Door
    $200
    Manufacturer Destination Charge
    $995
    MSRP (STICKER PRICE)
    $55,830
    Dealer Discount
    −$3,679
    LEXUS PRICE
    $52,151
    Manufacturer Rebate
    −$1,800
    Term
    36 months
    Annual Mileage
    12,000
    Residual Value (56%)
    $31,265
    TOTAL DUE AT SIGNING
    $0
    First Month's Payment $735
    Registration & Fees $764
    Sales Tax $36
    Capitalized Cost Increase $-1,536
    MONTHLY PAYMENT
    $735.38

    Registration & Fees include $55.75 DMV fee, $138 documentation fee, $5 tire fee, $15.15 electronic filing fee, $389 processing & handling fee and $76 local tax. Security deposit waived. The capitalized cost of your lease is the Lexus of Lehigh Valley Price plus $795 lease acquisition fee.

    Payment subject to approval of credit with a credit score of 720 or higher and includes all taxes and fees and any manufacturer rebates. The monthly payment includes $55 sales tax and $795 lease acquisition fee paid over 36 months. At the end of your lease, a $350 disposition fee may be due.
    12,000 miles per year with $0.25 per mile overage charge.

    If we take the discounted price, subtract the rebate, add the $1536 for 1st payment and registration/fees, add the $795 for acquisition fee, I get an adjusted CAP of $52682.
    If I use .00020 as the money factor, I get a payment of $617/mo.+tax.
    Even at 10% tax, they are $57/mo. higher than that. It's possible that a marked up money factor might be part of their ad price. (or, if that price doesn't include tax, it's really, really high).

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  • srini31srini31 Member Posts: 6
    Thanks ,so what is the money factor i should be looking for ,i have excellent credit (>760)
  • kyfdxkyfdx Moderator Posts: 235,188
    srini31 said:

    Thanks ,so what is the money factor i should be looking for ,i have excellent credit (>760)

    .00020 MF

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  • srini31srini31 Member Posts: 6
    hi, the dealer is offering me .00020 mf with 56% residual value .is it a good deal ,i am in PA 
  • kyfdxkyfdx Moderator Posts: 235,188
    srini31 said:

    hi, the dealer is offering me .00020 mf with 56% residual value .is it a good deal ,i am in PA 

    The residual isn't negotiable. 56% is correct for 36/12

    I can't tell you if it's a good deal, just based on the money factor.

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  • srini31srini31 Member Posts: 6
    edited December 2017
    thanks for the reply .i just read that 2018 rx450h has base model price reduced by 7500 today .so should i just wait it out
  • MichaellMichaell Moderator Posts: 240,060
    srini31 said:

    thanks for the reply .i just read that 2018 rx450h has base model price reduced by 7500 today .so should i just wait it out

    You believe everything you read on the internet? :wink:

    (if you have a link, feel free to post it)

    I'd confirm that before making a final decision.

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  • srini31srini31 Member Posts: 6
    2018 Lexus RX450h is way cheaper than the 2017 model - Autoblog



  • kyfdxkyfdx Moderator Posts: 235,188
    srini31 said:

    2018 Lexus RX450h is way cheaper than the 2017 model - Autoblog



    I guess we'll see. Edmunds doesn't have pricing posted, yet.

    Generally, those sorts of adjustments are made up by smaller dealer discounts and lower rebates.

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