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Lexus RX 350 / RX 450h Lease Questions

2663 messages,  Last post on May 15, 2013 at 8:01 PM

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What is this discussion about? Lexus RX 450h, Lexus RX 350, Car Leasing, SUV

Messages Page 118 of 267

#1167 of 2663 Re: Bay area offers [rain_man] by scoutandatty

Dec 22, 2008 (12:38 pm)

Replying to: rain_man (Dec 20, 2008 2:13 pm)
I've compared Pleasanton, Oakland, Putnam (Redwood City), and Stevens Creek (San Jose) for 09 RX 350 Nav, Premium, 36 months/15K lease.
 
Putnam - Sleazy. Bait and switch. Told me they had the RX I want - and would be competitive with quote from other dealer. Although confirmed in email and over phone the terms and that I do not want to waste any time - upon arrival, they immediately tried to upsell to Levinson and Pebble Beach b/c didn't have my options. Sales team sits you in their office and goes back and forth to their manager "to see what I can do".... What a crock. Putnam is the Ugly Stepchild of Lexus dealers in the Bay Area. Its run like a subprime brokerage.
 
Suggestions:
1. do not visit dealer without reading exact terms required to beat to earn your business;
 
2. ask if they have the model, colors, options at the dealer;
 
3. When ready to do deal - you want transaction to move quickly - tell salesman that if there is any waivering from agreed terms, you are leaving - AND BE WILLING TO LEAVE .
 
4. When enter dealer - and if any waivering from terms or not directly answering your question - LEAVE!!!
 
Stevens Creek - Brian Crocker was great. Straightforward. Did a great job making process smooth and not playing games.
 
Here's what we got:
 2009 RX 350
36 months / 15K miles
.00095 MF - standard
 .52% Residual - standard at 15K
$970 - 1st month + fees
$550/month (taxes included)
 
Some suggestions:
 
1. Start with Overstock.com - Pleasanton and San Jose are members and will contact you after you complete the form (drops invoice by $2500 or so). Gave me a better idea of how to break down the pricing from base to each option.
 
2. Determine which dealer(s) have the most inventory. I think this is on Edmonds.com.
 
3. Take best overstock price and drop by at least another $2,000. (This should be $9K off MSRP)
 
4. Call each dealer and tell them what you've been quoted (on Overstock and this forum). If they can beat, you will do the deal today.
 
5. Throughout - it really helps if you realize that Lexus is really desperate. Their sales are down 35% from last year, the economy stinks, they have a 2010 version coming in February. They have month-end and year-end quotas - and are absolutely willing to take losses of $1,500 (after contributing the $2,500 in Lexus marketing support) to lower the price of the RX.
 
LAST THOUGHT - it may make a lot of sense for those shopping now to get together and contact dealers as a group. The dealers will be even more aggressive if they're moving more than 1 at a time.

#1168 of 2663 Re: Bay area offers [scoutandatty] by rain_man

Dec 22, 2008 (3:26 pm)

Replying to: scoutandatty (Dec 22, 2008 12:38 pm)
Scoutandatty. Great summary for us in the Bay area!!!
 
I like the idea of buying as a group, but think that coordination, such as timing, would be difficult.
 
What was your experience with Pleasanton? It is a bit of a drive out there, and I was wondering if it is worth the trouble.
 
Let me add to those who are looking at the hybrid: The discounts offered on RX400h are at least as good as those on RX350. I.e. you should also be able to get $9k off an 400h.

#1169 of 2663 Re: Bay area offers [rain_man] by scoutandatty

Dec 22, 2008 (3:43 pm)

Replying to: rain_man (Dec 22, 2008 3:26 pm)
I never drove up to Pleasanton. I did speak to Chris Anderson - their contact from the overstock.com price quote. He wasn't as aggressive as Stevens Creek and Eric at Oakland - so I'm guessing that his inventory isn't as large.
 
Almost all of the dealers whined that they weren't making money on the deal at the price I offered - but I later realized that they probably have more to lose if they don't clear their inventory vs. "losing" $1,500 - $2,000 on the deal.
 
Does anyone have any thoughts on how aggressive these dealers are likely to become after Christmas?
 
Do they have more to lose if they don't clear the lots before the end of the year?

#1170 of 2663 Re: Bay area offers [scoutandatty] by spingrinder

Dec 22, 2008 (7:09 pm)

Replying to: scoutandatty (Dec 22, 2008 12:38 pm)
Scout - I'm trying to figure this out and I'm not trying to say your deal is bad. Can you break down your numbers a little more? What is the agreed on price out the door?
 
I get the following on a RX350 w/Navi, No Levinson-
MSRP $43850
Assume $6k off $36850
Resid. 52% $24287
MF .00095
Term 36 mo.
Tax (7.5% for me)
 
                             = $437.58 per mo. incl. taxes.
 
Also, I'm currently working on a deal for a 400h with $895 drive off at $520 mo. for a 36 mo., 12k per year (which works out cheaper at that rate even if I drove the extra 9000 miles at 0.25 per mile.)( I Do not have the actual drive off price for that in writing yet though.)

#1171 of 2663 Re: Bay area offers [spingrinder] by rain_man

Dec 22, 2008 (8:11 pm)

Replying to: spingrinder (Dec 22, 2008 7:09 pm)
I cannot quite get your numbers to add up. 52% of $43850 is only $22.802.

#1172 of 2663 Re: Bay area offers [spingrinder] by scoutandatty

Dec 23, 2008 (4:30 am)

Replying to: spingrinder (Dec 22, 2008 7:09 pm)
Let's see:
 
2009 RX 350
Navigation
Premium
36 months
15,000 miles
.00095 MF
52% residual of $45,426 (MSRP)
 
$39,250
$516/month + 8.25% = $556 (ish)
$954 at closing (1st month + fees)

#1173 of 2663 beginner buyer by holla322

Dec 23, 2008 (7:21 am)

i am looking at 2009 rx 350 awd with Navi. I live in the ny area and want to know what is good round abt lease price that people have been getting/expecting from the dealers. also do dealers still have the 2008 rx350 model? or are they very hard to find now? i do not mind travelling to any dealer within ny, nj, and ct. Any information will be greatly appreciated. thank you in advance.

#1174 of 2663 Re: Bay area offers [scoutandatty] by scoutandatty

Dec 23, 2008 (7:25 am)

Replying to: scoutandatty (Dec 23, 2008 4:30 am)
My bad - I didn't include the fact that the dealer paid $2600 to end my existing lease - so the actual price is $36,650.

#1175 of 2663 Re: Bay area offers [scoutandatty] by spingrinder

Dec 23, 2008 (12:20 pm)

Replying to: scoutandatty (Dec 23, 2008 7:25 am)
Wow - that's good negotiating to get them to pick that up. Usually they just try to hide it by rolling it into the payments.

#1176 of 2663 Just leased an '09 RX 350 by larryj42

Dec 23, 2008 (2:29 pm)

I just leased an '09 RX 350 in Dallas on 12/20/08. It has Nav & the Premium Plus package. The lease was for 36 month/15k miles per year.
MSRP-$44,841.
Selling price-$38,500
Residual-52%
MF-.0012-I could not get the .0095 even though my FICO score is 793.
They paid off my current lease-2 payments-total $1056.
Upfront charges-$670.93 (first payment & documentation)
Payment-$526.93
The deal was all over the phone. Initially their quote was $39,500. I might could have got better, but I am happy with it.

Messages Page 118 of 267

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