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Prices Paid: Buying & Leasing Experiences Lexus RX 450h Prices Paid and Buying Experience
551 messages, Last post on Nov 26, 2009 at 4:18 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: lvshane (Apr 13, 2006 7:15 am) I guess the RX400h is one hybrid that is selling for a reasonable price..
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So armed with the numbers provided in post # 136 I go to Rockville Lexus and start negotiating on a lease for the RX 400h w/nav. I tell the Sales Person (based on one of the cars I liked) this is what I am looking for: MSRP: 49,928 Cap Cost: 45,100 MF: 0.0017 Residual: 59%. 15k miles/yr 36 months Well he checks with the Gen. Sales Manager and tells me they can do everything except that the Residual will be 57% as that promo expired last month and showed me paperwork from Lexus Financial and tells me that its going to cost me a $1000 more for the lease. Now these are the payments he offered me (supposedly based on the terms mentioned above)...703 /mo with 703 down or 600 something w/4000 down (as I was willing to put down 4000 to lower the payments). I asked him if I could sit w/Gen Sales Manager while he is punching in the numbers so that I could see the details myself..he checks and comes back saying the guy was busy..now this was a Tuesday and I could see all the other Sales People idling away. So, thankfully and good heavens that I did...I tried to get another 500 knocked off the price and when they refused to budge I walked out. BTW, on my way back I called a dealer in VA (coz they are much closer to my house) to check if they could match it based on the #s above and I intentionally did not tell them the monthly payments that Rockville came up with...well they flat out told me to get the car from Rockville. At this point (and I was way too deep into VA) I started thinking that maybe Rockville did offer me the best deal, so I call the sales person at Rockville and offer a $1000 deposit on Visa to hold the car...he gladly agrees on the condition that I come back in 24 hours to complete the deal. Now imagine my surprise when get back home and I put the numbers on an online lease calculator (making adjustments for the TTL, Acquisition Fees) and realized the monthly payments they offered were way off (close to 100/mo off). Next Day I call back and explain the issue to the Sales Person..He tells me he can't do anything and cannot explain to me why the #s dont add up as it was the Manager's day off and to check back the next day (i.e., today). Now surpise..surprise..today the Sales Person calls me back (after I left 2 VM messages) saying they can only do the deal with the monthly payments that were mentioned and the reason it doesn't match my calculations is because they used a higher MF...it just left me stunned..after wasting 3 hours w/them 2 days back he comes back to tell me they were not entirely honest. So we end the conversation there...No Deal...but wait its isn't over yet. So...I get an idea...when dealing w/Sales Person he kept on highlighting that they were giving almost $5000 off. So I call him back and say ok...since the lease didn't work if they would sell me the car for cash at the agreed upon price (i.e., 45,100)..he says that it should not be a problem and will get back to me after checking w/Gen Sales Manager. But just what I had expected..he calls back and tells me that they cant do the price even though 2 days ago that was the price on his worksheet...I could feel the guy feeling bad...but thats that...One thing I have learnt if you want to do a lease do your homework and if possible take a lease calculator with you or use it at the delaership. Incidentally when I had requested access to teh internet they said the lines were down as they were undergoing renovation. I am now going to try and complain about the whole experience to Lexus Corporate and as many Executives as I can get in contact with coz I honestly did not expect this at a Lexus Dealership. Even my Honda dealer is much more honest than these guys!!
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I just received a quote for a FWD 400h which included $553 for a "Toyota Direct Advertising" fee. Does anyone know what this is? Shouldn't the advertising be a cost of doing business born by the dealership? Can I avoid paying this? 
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Replying to: seansarkar (Apr 20, 2006 3:46 pm) A lot of us have gone through similar experiences in the past. However, we can use this Forum to learn from each other. I have been leasing for almost 20 years so here are some tips from my experiences: 1. Do not deal with Salesmen when doing a lease. When visiting a dealership or talking on the phone, ask for the Fleet Manager. 2. Don't negotiate the deal right after test-driving the car at the dealership. Make a separate visit to a dealership just for the test drive, get a brochure, and go home. Decide on the options, color, etc. and then request a quote through Edmunds.com or a similar site which will be directed to the Fleet Manager at a local dealership. 3. Plug in the numbers in a Lease Calculator and make sure your monthly payment is acceptable. A good way to verify that your Lease Calculator is accurate is to plug in the numbers from an advertised car and check the results. A lot of the Lease Calculators online add pre-determined amounts for fees, etc. I prefer to use my own spreadsheet. 3. After you request a quote through the Internet, you will get a call or e-mail from the Fleet Manager within 24 - 48 hours. Inform him that you are serious about closing a deal on a car with the selected options and color. Ask him for the following: MSRP, Money Factor, Residual, Term, Lease Inception charge, and Sales Price. Here is the Lease Formula (confirmed by Lexus and Mercedes-Benz). Plug in your numbers: Residual = MSRP x Residual Percentage Monthly Depreciation = (Sales Price - Cap Reduction - Residual) / Number of Months of Lease Monthly Rental Charge = (Sales Price - Cap Reduction + Residual) * Money Factor Add the Depreciation and Rental Charge to get your Monthly Payment before taxes 4. Your goal is to get the lowest MF, highest Residual, and lowest Sales Price. Assuming that your credit is excellent, you should be able to get the lowest MF and 0 Cap Cost Reduction. The high Residual will lower your payment and give you the option to walk away from the lease at the end of the term. I suggest that you negotiate over the phone from home with the Lease Calculator Spreadsheet. Once you reach an agreement on the terms, have the dealer fax you a printout from his computer or e-mail them to you. My experiences are based on leases on Lexus, Land Rover and Mercedes-Benz. "Your mileage may vary". Good luck on your next attempt. Zaheer |
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Replying to: kyfdx (Apr 13, 2006 3:14 pm)
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Replying to: lkforcar (Apr 30, 2006 3:53 pm) I don't have those numbers, but Car_man will.. We don't have a forum specifically for Lease Questions for the hybrid model, but if you post here: Lexus RX 330: Lease Questions, I'm sure that he can answer your questions.. Be sure to emphasize the you need the numbers for the RX400h.. You can be certain that the residuals are different for the higher mileage lease... Typically, the residual decreases 2% when you move from 36K to 45K miles.. regards, kyfdx |
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Thanks Zaheer for your advice. I finally picked up the Rx 400h on April 30th and am absolutely loving it. Put on a 100 miles so far at 26.5 mpg (mostly city though).Here's the details of my lease deal from lexus of Silver Spring: RX 400h AWD w/Nav MSRP: 49928 Gross Cap Cost: 45100 Residual: 57% MF: 0.0017 15k mi/yr 36mos I think it was a pretty decent deal, I may have been able to knock off another couple of hundred $ but after a month of trying and one terrible experience decided it was finally time to take the plunge. |
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I am contemplating the purchase of the RX400H for cash in NY. I was offered a discount at Rallye Lexus--and a fair trade in (over book). Can anyone tell me of any experiences with this or other NY dealers?
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Replying to: art234 (May 03, 2006 10:04 am) |
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