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Lexus RX 350 / RX 450h Lease Questions

1570 messages,  Last post on Nov 28, 2009 at 7:02 PM

You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx

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


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#1289 of 1570
Re: is this a good deal?? [ramkunda] by adamjmank
Jan 24, 2009 (10:46 am)
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Replying to: ramkunda (Jan 23, 2009 6:58 am)

Carsdirect is having a sale to the end of jan on lexus RX my friend could get a quote for a FWD RX for 30,900.00.
   
Try the LA zipcode 90045. should be the cheapest in California. may be you can price match.
  
The pebble beach edition RX 350 AWD, Nav, Laser Cruise, Rear ent, Heated front and rear seats, peium leather seats and much more around 39 k.
  
check it out may be you could negotiate a lease based on these prices
 and
good luck
#1290 of 1570
overpaid? by biscutt
Jan 31, 2009 (10:02 pm)
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Car Man,
 
I just leased an 09 RX-350 with the Levinson stereo/premium plus package (MSRP $46,000). It is for 48 months at 12k/yr (I picked 48 instead of 36 because I didn't care about having to keep the car a 4th year, and the warranty is 4 yrs/50k anyway). My payment is $610/month, no money down (other than registration fee). The dealer made the first payment for me, bringing the effective monthly payment to $598. The selling price was $36,500, plus $700 acquisition fee and the dealer's bogus $600 "doc prep" fee. MF was current .00285
 
Did I overpay, or was it just a bad time to lease b/c of the poor money factor?
#1291 of 1570
Latest money factor / residual? by highfidelity
Feb 04, 2009 (8:27 am)
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Car Man,
 
Did the money factory / residual get any better for February (36 months / 12k miles)? I am looking to lease a 2009 RX 350 with nav or a 2008 RX 400h and am trying to figure out the deals at this point. I would be a double returning leasee. My current RX lease is up at the end of April, but I want to still get a 2009 model while they are still around so I am looking at flipping the lease a little early.
 
Thanks.
#1292 of 1570
Re: is this a good deal?? [ramkunda] by Car_man HOST
Feb 10, 2009 (3:19 am)
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Replying to: ramkunda (Jan 23, 2009 6:58 am)

No problem, Ram. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2009 RX 350 AWD with the entertainment system and 12,000 miles per year are .00285 and 47%, respectively for consumers who qualify for its Tier 1+ credit tier.
 
This least program isn't very good, however Lexus is providing a whopping $5,000 dealer cash on this truck right now which is compatible with it. You should be able to negotiate a very attractive capitalized cost for your lease after taking this cash into account.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
#1293 of 1570
Re: overpaid? [biscutt] by Car_man HOST
Feb 10, 2009 (3:29 am)
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Replying to: biscutt (Jan 31, 2009 10:02 pm)

Hi biscutt. I don't think that you overpaid for your RX 350. You got a huge $10,000 dealer discount on it that probably includes most of the dealer margin and all of the $5,000 dealer cash and the dealer used Lexus Financial Services' buy rate to calculate your monthly payment. This is as good a deal as you were probably going to get on this truck. The lease program on it is just not that great right now.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
#1294 of 1570
Re: Latest money factor / residual? [highfidelity] by Car_man HOST
Feb 10, 2009 (3:35 am)
Reply

Replying to: highfidelity (Feb 04, 2009 8:27 am)

Hi highfidelity. Lexus' lease program for the 2009 RX is exactly the same in February as it was in January. Lexus Financial Services' Feb. buy rate lease money factor and residual value for a 36 month lease of a 2009 RX 350 AWD without the entertainment system with 12,000 miles per year are .00285 and 49%, respectively for consumers who qualify for its Tier 1+ credit tier.
 
This lease program is not very good, because Lexus seems to have pulled the plug on its lease support for the '09 RX now that the 2010 model has already started to arrive at dealers (2010 models are already out, what is that all about? Time flies). Lexus is providing a $5,000 dealer cash incentive on the '09 RX 350 in lieu of lease support.
 
Lexus is not currently providing lease support on the 2008 RX 400h either. If you were to lease an ;08 RX 400h AWD without the entertainment system through Lexus Financial Services' right now for 36 months with 12,000 miles per year, its buy rate lease money factor and residual value would be .00285 and 48%, respectively. Lexus is providing $6,000 dealer cash on this model right now.
 
Car_man
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Prices Paid: Buying & Leasing Experiences Forum
#1295 of 1570
Confused by Gyrlwolf
Feb 13, 2009 (4:26 pm)
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Just left my dealer in Southern NJ. Guy offers $34,500 or $35,600 (Can't remember which now, sorry lonnnnggggg day) leasing for 36 mths, 12K driving miles a yr, $399 for monthy payment, but wants $3,000 or $4,000 down and this was for a 2009 RX 350, no nav, premium plus package, Black w/black interior, which I really like. Now is it just me or is this a little pricey still? Am I being too cheap? I guess I keep thinking since it doesn't have nav shouldn't it be cheaper? They only have 1 Breakwater blue & 1 Pebble Beach in stock with nav. Any suggestions?
#1296 of 1570
Re: Confused [Gyrlwolf] by jkenley
Feb 14, 2009 (1:58 pm)
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Replying to: Gyrlwolf (Feb 13, 2009 4:26 pm)

That is a high price. Just got a letter from my dealer in the mail today giving current Lexus owners a chance to purchase 08's and 09's early before they advertise to the general public. This is what they offered me:
RX 350 prem pkg $32,250, MSRP $40,600 (may not be exact)
RX 350 prem pkg w/ nav $35,794, OTD $37,358.82., MSRP around $44K
 
Waiting for them to get back to me with lease pmts and MF. They said there is a special MF rate for this sale but they won't have time today as all the finance mgrs are busy and will get back to me on Monday morning. (seems suspicious) It's 5p.m. now, and they are not open on Sundays. I'll let you know what those payments are then.
#1297 of 1570
Re: Confused [jkenley] by Gyrlwolf
Feb 14, 2009 (9:47 pm)
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Replying to: jkenley (Feb 14, 2009 1:58 pm)

WOW! Thank you for this information. That's probably why when I went in the other day the sales man was nice but kept asking "What's keeping you from buying TODAY?" He knew once they released this info to the general public like myself, I'd be pissed thinking if I'd only waited a little bit I could've gotten a better deal. Curious to know if the $5,000 cash back will be used with this "special" offer or not. Probably not as the prices are pretty decent. Thank you so much again and I look forward to what you find out. Also, can you find out if the price will be different if your "leasing"? Although with prices this low I'm tempted to "purchase" one instead of leasing. I won't act until I hear back from you.
#1298 of 1570
Re: Confused [Gyrlwolf] by jkenley
Feb 15, 2009 (2:51 pm)
Reply

Replying to: Gyrlwolf (Feb 14, 2009 9:47 pm)

The price of the car should not be any different whether you lease or purchase. I'm from the school of negotiating the lowest price possible for the car, then tell them if you are going to lease or buy. I am 99% positive this includes the $5k incentive, you are talking about $8-$9k off of msrp and below invoice.
 
I am hoping they get back to me as promised, I just think it's odd that they would not want to get back to me that same day to try and make a sale. They only had 1 left with nav and being that I am suspicious of car dealers, I fully expect them to call me back saying it is gone since that is the car I wanted. I hope I'm wrong though.

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