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Prices Paid: Buying & Leasing Experiences Lexus RX 350 / RX 450h Lease Questions
1575 messages, Last post on Nov 30, 2009 at 8:27 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
| I have deposits on 2 vehicles (one each at 2 dealerships). I called to cancel one and I was informed that in 6/09, the money factor dropped slightly ( I was already at .00215 from 5/09) and they were going reduce payments by about $16 per month. I then emailed the other dealership and the response was that I did not qualify for the new reduced rate because I was coming out of an ES lease and the new rate was for returning RX lease customers. Anyone hear anything on this? Thanks in advance. | |
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I am new in this forum. I live in Canada. Today, I went to a local dealership to test-drive a used 2007 RX350 with premium package with 101k. The sale price is CDN$33K. At the end, the dealer told me if I lease a brand new 2010 RX350 with premium package (no navigation) is better than buying an used one. The MSRP for this car is about CDN$ 53,000. He told me about a security deposit program with Lexus, which will offer me a leasing rate as low as 2.1%. Every CDN$500 I deposit in Lexus will reduce 0.2% off the original 3.9% 4-year leasing rate. After I deposit CDN$4500, I can get 1.8% off 3.9%, which is 2.1%. This is the maxium discount rate that I can get. So, under the 2.1% 4-year leasing rate, the monthly payment will be $551 for premium package model WITH 10K down payment and the residual value is about CDN23k. After 4 years, if I decide to return the vehicle to the dealer, I can get my $4500 deposit back. If I buy a used RX, I will pay slightly less amount every month under 3.9% best financing rate they can offer. My question is, is it worthy to lease a brand new RX? I never did that before. So what should I worry about in the lease term? Also, if I go to purchase a RX in the US, can I carry the warranty over to Canada? Thanks for your help in advance. |
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Replying to: dengdeng (May 22, 2009 5:03 pm) I doubt that you are going to be able to alter your lease at this point, but you might be able to cancel your extended warranty. If I was in your situation, I would look into doing so right away. If you could get the extended warranty company to send a refund directly to you, the dealer would no longer get a commission and you'd get your money back. If you are unhappy with the way that you were treated you definitely can send letters to the owner of the dealership and Lexus directly. You also can also post a review of the dealership over in the Dealer Ratings & Reviews section of Edmunds.com. I am not aware of any resource that consistently provides accurate information on banks current lease programs directly to the general public, except for the Edmunds.com forums. Car_man Host Prices Paid: Buying & Leasing Experiences Forum
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Replying to: ctsoxfan2 (May 26, 2009 3:38 am)  ! Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: jimmylexusnj (May 28, 2009 6:24 am) Dealers' ability to mark up money factors varies from bank to bank. Many banks do allow dealers to mark money factors up. It happens all the time, particularly at luxury brand dealerships. Admittedly, I do not know LFS' specific policy on this matter, but I would be surprised if Lexus dealers were never allowed to mark vehicles' interest rates and money factors up. I just checked and LFS did indeed raise its base acquisition fee to $700. In stand corrected. Thank you for the information. In my post I said "the last time that I checked." Now I know that it is higher. Man, $700 is a big, annoying fee to pay to lease a vehicle. Acquisition fees are really getting up there. Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: mhsj2009 (Jun 02, 2009 9:08 pm) Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: chadnaustin (Jun 03, 2009 2:43 pm) I haven't seen Lexus' specific lease program for the Austin, Texas area but a .00375 money factor is nuts. If I was quoted that, I personally would shop around with a different dealer to see if they quoted me a better money factor. If not, I would pay cash or finance the RX or just go with a different model. With the deals that are out there right now, there's no reason to pay 9% interest on any truck. Car_man Host Prices Paid: Buying & Leasing Experiences Forum |
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Replying to: newkid300 (Jun 05, 2009 9:14 am) Car_man Host Prices Paid: Buying & Leasing Experiences Forum
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Replying to: Car_man (Jun 12, 2009 2:57 am) What's the rate for San Francisco, Oregon, and Washington for Tier 1+ -- still .00215? $2000-$2500 off MSRP seems to be the point where dealers will stop negotiating -- is that in line with what you have heard in your discussions with dealers? Thanks!
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I just wanted to post info on a lease i just got on a '10 RX 350. MSRP: $41,048 Residual: 52.53% Lease Term: 48 months Total down: $1,500 Monthly payments: $523.12, plus sales tax Other comments: 10k miles a yr
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