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Prices Paid: Buying & Leasing Experiences Lexus RX 350 / RX 400h Lease Questions
1529 messages, Last post on Nov 04, 2009 at 8:25 AM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Hi everyone. Please use the following discussion to post any questions that you have about leasing a Lexus RX 330. Thanks. Car_man Host Smart Shopper / Prices Paid Forums |
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Hey Car_man - Can you look up the current MF and Residual on a 2005 RX 330 with Premium Plus package? Three year lease with both 15k mile and 20k mile is what I'm considering. Also, are these figures different for the 2006 model? Thanks! |
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Please like to find out for Sept, Oct andNov., what will be the base rate & MF for the 2005 & 2006 RX330 be? Which is the better deal for leasing 2005 or 2006?Of course including 15Kmi/yr and 20Kmi/yr Pls advise. |
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Hi tiger93. Unlike in August, Lexus is not currently providing any sort of lease money factor support on the 2005 RX 330 this month. As a result, if you were to lease one through Lexus Financial Services, you would have to use its standard lease program. I have not seen its new standard lease money factors yet, but I suspect that its buy rate for a standard lease is probably around .00245 give or take .00010 this month. As far as residuals go, if you were to lease a 2005 Lexus RX 330 4WD without the entertainment or navigation systems through LFS right now for 36 months with 15,000 miles per year, its residual value should be 54%. If you need to drive more than 15,000 miles per year, you will have to purchase additional miles on a per-mile basis. It is less expensive to do so at lease signing than it is to wait until lease-end and have to pay an excess mileage penalty. Again there is no lease support on the 2006 version of this truck, but its residual value for an otherwise identical lease is higher at 57%. Car_man Host Smart Shopper / Prices Paid Forums |
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Hello mib90024. You can find out what these trucks' lease programs are like right now by reading my previous post. That lease program is currently only scheduled to run through September 30th. It is difficult to say what Lexus October and November lease programs will be like for the RX 330 at this point. As far as which one is a better deal to lease right now, the '05 or '06 model, this depends upon the selling price that you are able to negotiate. All things being equal, namely selling price, a 2006 RX 330 would be less expensive to lease than an '05 model right now because they have the same money factors and the '06 model has higher residual values. If dealers are anxious to clear out their leftover inventory, they may be willing to discount the '05 version enough to make up for the difference in residuals though. Car_man Host Smart Shopper / Prices Paid Forums |
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Dear Car_man, I am interested in leasing a 2006 Lexus RX 400h with heated seats from a local NJ dealer. The dealer is charging $1700.00 above invoice. The lease that fits me the best is 36 months and 15K/year. I want just pay fees plus the first month's payment. I would like the 6% sale tax in the lease payments. The dealer claims that Lexus has the best program. The residual, as of August, is 62% and the money factor is not discounted currently (I don't know what it is). I would like to spend close to $600/month. Please let me know what the present dealer offer is per month and how we can get to $600. Here are the details for the Lexus 400H: MSRP $49,725 including the $650.00 destination charge Selling price $46,040=$1,700 above invoice Please let me know what the payment should be for a lease with the new program for September. Also do you have the new rates for September for the AWD RX 330? Thanks |
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Hi plym_rock. The dealer that you spoke with was telling you the truth. Lexus is not currently providing any sort of lease money factor support on the 2006 RX400h. According to my calculations, if you were to lease a 2006 Lexus RX 400h without the entertainment system with an MSRP of $49,725 and a selling price of $46,040 through Lexus Financial Services right now for 36 months with 15,000 miles per year, your zero down, pre-tax monthly payment should be around $604 with the payment of a security deposit and LFS' $600 acquisition fee. Car_man Host Smart Shopper / Prices Paid Forums |
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Hello, I'm a first time lessee and have been offerred by the Lexus dealership a lease on the 2006 Rx 330 (w/ leather and moonroof) for $553/month and $3000 down. The MSRP is $41110 and the negotiated price is $37575. Their using a money factor of .00285 and a .58 residual (~$23800). 36 months. Any thoughts if this is a good deal or if I should keep negotiating? Also its 12k per year which should be enough for me. |
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Replying to: Car_man (Aug 31, 2005 3:29 am) I am currently leasing a 2002 RX 300, whose lease is up in April (39 month lease). I am currently paying $514 with taxes in CA. I put nothing down, get 12k miles per year, I believe the sticker was discounted down to aroun $36k. The car as of right now is in great condition and only has 20k miles on it. I dont have the paperwork with me, so I don't remember the risdual or the money factor at the time of the lease. The dealership just contacted me about discussing a future lease. Can I use the fact that the current car has low miles and is in great condition as a bargaining chip to flip the lease as to secure the same lease rate (if not lower) on a new 05/06 RX330? I think my buyout on the car is like $26k (should I be considering this, because I might be able to sell it myself for more?). I feel like they are getting a car that is worth far more than that and I would like some incentives based on that fact.
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HI azhoopsfan. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment. You are already off to a good start because you were able to get the dealer that you are working with all of the important information about this deal. The selling price that you were quoted for this truck looks reasonable to me. The money factor that is being used to calculate its lease payment is a little high though. Even though Lexus is not currently providing any sort of lease support on the RX 330, your money factor should be around .00235 to .00245 if your credit is in good shape. Another problem I have with this deal is the large down payment that you are making. I always advise consumers against making any sort of down payment when leasing. I do so for two main reasons. The first is if your vehicle is totaled in an accident or stolen during your lease, your insurance company pays off the bank that you were leasing it through and your down payment essentially disappears. The second main reason is that down payments on leased vehicles do nothing to reduce their lease-end purchase prices. So your lease-end purchase option price for your RX 330 would be exactly the same, regardless of whether you had put $3,000 down, or had made absolutely no down payment at all. Car_man Host Smart Shopper / Prices Paid Forums
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