Last post on Dec 11, 2013 at 11:16 PM
You are in the Prices Paid - Buying & Leasing Experiences
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Lexus RX 450h, Lexus RX 350, Car Leasing, SUV
#1294 of 2772 Re: Latest money factor / residual? [highfidelity]
Feb 10, 2009 (3:35 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.
Prices Paid: Buying & Leasing Experiences Forum
Feb 13, 2009 (4:26 pm)
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 2772 Re: Confused [Gyrlwolf]
Feb 14, 2009 (1:58 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 2772 Re: Confused [jkenley]
Feb 14, 2009 (9:47 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 2772 Re: Confused [Gyrlwolf]
Feb 15, 2009 (2:51 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.
#1299 of 2772 Re: Confused [jkenley]
Feb 15, 2009 (5:17 pm)
Thanks again for the great advice. I think it's odd too that they didn't call you back the same day trying to cut a deal. That probably means they had another offer from someone offering to give up a little more money for the one with nav. That really suxs. I hope for your sake we're both wrong though and they call you back. Let me know how it goes for you either way. I guess for myself I need to figure out if I want to purchase or lease the 09'. At lease you've informed me that I can haggle for a better price.
#1300 of 2772 Re: Confused [jkenley]
Feb 15, 2009 (8:13 pm)
While I agree about negotiating the lowest price on the car I think that most of the recent incentives have been based on $5k cash to dealer from Lexus on purchase only. So if you lease, the best you could do is around invoice - if you purchase, you could expect about invoice minus the $5k.
I too am curious what deal is announced tomorrow as I have been waiting on the sidelines to see if anything better is coming along to move the 09's. I really want to do a lease but they haven't been doing anything to incentivize leasees for the past month or so. Purchases have been great but our 07 only has 20k miles on it and I don't see the need to spend another $10+k over our buyout just to get the same car since the 2010's are out now.
Unfortuanately I'm getting the tug toward the 10 though. Looks pretty nice!
Looking forward to the news tomorrow - please post as soon as you get the numbers!
#1301 of 2772 Re: Confused [carshpr1]
Feb 16, 2009 (8:08 am)
Any details on the new deal starting today ?? Or are they waiting until tomorrow after Presidents Day to announce?
#1302 of 2772 Re: Confused [carshpr1]
Feb 16, 2009 (12:38 pm)
OK, just got off the phone from the dealer. The $5k incentive DOES apply to leasing as well as purchasing. The MSRP of the rx350 is $44,841. The sale price they quoted me is $35,794, over $9k below msrp and I'm sure well below invoice. Total including ttl is $37,335.82 NC tax is 3%).
Lease payments based on this price is $629.51, 48 months, 12k/yr. Lease factor a whopping .00385. Financing would be 6.49% for 60 months for tier 1 credit.
Ok, so yes, the price of the vehicle is outstanding, 09 prem pkg w/ nav. But the financing really is horrible, no special financing for leasing or buying through Lexus. I
#1303 of 2772 2010 lexus lease rx350
Feb 16, 2009 (5:06 pm)
So I went to a lexus dealership in New Jersey today to lease the new 2010 RX 350 with nav system and was quoted a price of $599 per month $4000 down and 12k per year, for 48months. It sounds ridiculously high.. Can someone please tell me the deals they have been hearing or received from the new model.