Lease residual for Lexus RX 350 F Sport 2017 and 2019

blueshirts0319blueshirts0319 Member Posts: 4
edited November 2019 in Lexus
We are currently leasing a 2017 F Sport (msrp $59k) for 12k miles per yr / 36 months for $550 a month with $2k down in March of 2017 which the incentives was only $1500 lease cash and Lexus set the residual at $36K after 3 years with Lexus Financial.

So recently due to December to remember promotion and NJ lease cash for 2019 RX is $5500 we were thinking we should look into switching out our current F Sport while Lexus Financial will waive remaining 4 lease payment and get a another 2019 F Sport (same model, option, almost same MSRP $59k) but the white color we always wanted.

The same dealer we leased 2017 F Sport came back with $650 per month /$25k down for 10k per year / 27 months but now residual set at $31k. We laughed and left the dealership.

So what did I missed, did I just caught Lexus doing their residual game to set whatever they want to get a higher payment while advertised this is the best time to lease a RX? How came the same model, same option, almost same MSRP with different color have this far off residual.

Comments

  • kyfdxkyfdx Moderator Posts: 200,701

    We are currently leasing a 2017 F Sport (msrp $59k) for 12k miles per yr / 36 months for $550 a month with $2k down in March of 2017 which the incentives was only $1500 lease cash and Lexus set the residual at $36K after 3 years with Lexus Financial.

    So recently due to December to remember promotion and NJ lease cash for 2019 RX is $5500 we were thinking we should look into switching out our current F Sport while Lexus Financial will waive remaining 4 lease payment and get a another 2019 F Sport (same model, option, almost same MSRP $59k) but the white color we always wanted.

    The same dealer we leased 2017 F Sport came back with $650 per month /$25k down for 10k per year / 27 months but now residual set at $31k. We laughed and left the dealership.

    So what did I missed, did I just caught Lexus doing their residual game to set whatever they want to get a higher payment while advertised this is the best time to lease a RX? How came the same model, same option, almost same MSRP with different color have this far off residual.

    What is the selling price?
    Adjusted CAP cost?

    I assume that is $2500 down, not $25K down?

    I can assure you that that the 27/10 residual on $59K MSRP is not $31K. (closer to $35K)

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  • blueshirts0319blueshirts0319 Member Posts: 4
    edited November 2019
    I didn't get into detail of the 19 F Sport quote and yes is $2500 down and $650 a month/ 10k per year from the dealership where we first leased our 17 RX F sport.

    So we shopped at another dealership and the best they came back via email was 36-months/10k-miles least with $2000 down = $636.97 The residual value is $31,754.

    These are from cental NJ dealership 08812 area. I apologize it wasn't 27 months but still you are talking about almost $5000 residual difference with less lease mile involved. I'm scratching my head while Lexus offered all these lease cash and incentives but really just a scheme to make you think you are getting a better deal this time of year.
  • kyfdxkyfdx Moderator Posts: 200,701

    I didn't get into detail of the 19 F Sport quote and yes is $2500 down and $650 a month/ 10k per year from the dealership where we first leased our 17 RX F sport.

    So we shopped at another dealership and the best they came back via email was 36-months/10k-miles least with $2000 down = $636.97 The residual value is $31,754.

    These are from cental NJ dealership 08812 area. I apologize it wasn't 27 months but still you are talking about almost $5000 residual difference with less lease mile involved. I'm scratching my head while Lexus offered all these lease cash and incentives but really just a scheme to make you think you are getting a better deal this time of year.

    Yes, the 27 month term won't result in a great payment, relative to 36 months. The money factor is much lower, but the residual spread is only 6% for a 9 month spread in term. Plus, with 27 months, your fixed costs, like title, doc and acquisition fees are amortized over fewer months.

    The deal is better than it was last month, but it's mostly just advertising.

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