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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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#1529 of 1570
Re: A December to Remember in November? [go_orange] by audilover18
Nov 04, 2009 (8:25 am)
Reply

Replying to: go_orange (Nov 04, 2009 7:47 am)

Actually heard the sale could start as early as this Thursday. They are competing with Audi's "Season of Audi" promo who's numbers got released to dealers today.
#1530 of 1570
Re: A December to Remember in November? [audilover18] by go_orange
Nov 10, 2009 (8:23 am)
Reply

Replying to: audilover18 (Nov 04, 2009 8:25 am)

The sale is on. I got the news from my local dealer yesterday. The money factor for the RX has been reduced from .00255 to .00220. The residual, which was boosted 3 points last month, remains 60% for a 3 year term with 15,000 miles per year.
 
By waiting a few months, I'll end up paying about $80 less per month for a vehicle that now costs more than before (they added an On Star-like system which upped the MSRP by $500 or so). That totals up to nearly 3 grand in savings over the course of the 3-year lease. Not bad.
#1531 of 1570
Re: A December to Remember in November? [go_orange] by go_orange
Nov 11, 2009 (10:53 am)
Reply

Replying to: go_orange (Nov 10, 2009 8:23 am)

Quickly agreed to a deal while the Mrs. decides on color. Details are as follows:
 
MSRP: $43,715
Sales Price: $39,547 ($300 below what is said to be dealer invoice)
Term: 3 years
Miles: 15,000 per year
Money Factor: .00220
Residual: 60%
bank fee ($700) and sales tax (7.375%) capitalized
paying only first month's lease payment and DMV fees up front
Monthly Payment: $581.66
Location: Metro NYC Area
 
I found that it is easy to get offers at or about what is said to be dealer invoice, and with a little effort (playing dealers off against one another) they'll go below invoice.
 
It seems at least in the Metro NYC area, the TMV is much lower than the Edmund's TMV (which I believe is a national average).
#1532 of 1570
Re: A December to Remember in November? [go_orange] by jayrider
Nov 11, 2009 (11:13 am)
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Replying to: go_orange (Nov 11, 2009 10:53 am)

In illinois I have to pay 6.5% sales tax up front. $2570 -- can roll in the tax at about $72 per month. What was your payment before taxes?
#1533 of 1570
Re: A December to Remember in November? [jayrider] by go_orange
Nov 12, 2009 (7:42 am)
Reply

Replying to: jayrider (Nov 11, 2009 11:13 am)

You can roll in the tax in NY. I do not know about IL.
 
If you can do this, I would recommend it.
 
I do not know what my payment would be without rolling in the tax (approx. $1,500), as paying the tax (or any substantial amount)up front on a lease is not an option that appeals to me. I look at it no differently than making a down payment on a lease. If the car is stolen or totaled the day after you take delivery, to use an extreme example, I believe that you'll be out the $2570 and starting over.
#1534 of 1570
Re: A December to Remember in November? [go_orange] by jayrider
Nov 12, 2009 (8:40 am)
Reply

Replying to: go_orange (Nov 12, 2009 7:42 am)

Your payment would have been $41 less if you divide the 1500 by 36. Tax in ny must be computed on the actual amount of the lease rather than the sale price of the car. Better for you. Ny sounds like a real tax haven -- may move there to take full advantage. You also have a lot of lease brokers in nyc. The prices appear very competitive -- sometimes awsome. Swapalease seems to have a number of them advertising nice numbers.
#1535 of 1570
Re: A December to Remember in November? [jayrider] by locksmith3
Nov 12, 2009 (12:16 pm)
Reply

Replying to: jayrider (Nov 12, 2009 8:40 am)

Any lease brokers that you would recommend in New York City that you've had good recommendations?
Thx
#1536 of 1570
Re: A December to Remember in November? [locksmith3] by jayrider
Nov 12, 2009 (12:22 pm)
Reply

Replying to: locksmith3 (Nov 12, 2009 12:16 pm)

Have no knowledge of anything -- the deals look pretty good. I think the advantage is they get better cap costs on some vehicle. The residual and money factor shouldn't be different from the dealer unless the finance is thru a bank.
Someone from ny should have info.
#1537 of 1570
Re: A December to Remember in November? [go_orange] by go_orange
Nov 12, 2009 (6:57 pm)
Reply

Replying to: go_orange (Nov 11, 2009 10:53 am)

Oh, and I'm having them switch the Bridgestones to Michelins. I did research on the OEM tires for the RX in advance on tirerack.com. The former has just about the lowest consumer rating in its class (most people definitely would not get this tire again), while the Michelin is highly regarded. The switch was no problem. All I had to do was ask and they were happy to accommodate me. I gathered that they are used to this request . . .
#1538 of 1570
Re: A December to Remember in November? [go_orange] by kevin_vdubz
Nov 12, 2009 (8:11 pm)
Reply

Replying to: go_orange (Nov 11, 2009 10:53 am)

Got a great deal from Ray Catena Lexus in Oakhurst, NJ (Harvey).
 
2010 RX 350 with Comfort, Premium, Navigation, Wood Trim Steering Wheel/Shift Knob, Tow Package and Wheel Locks, mats, etc.
Comfort
 
MSRP: $47,250
Sales Price: $43,000
Term: 3 years
Miles: 12K
Residual: 62%
Money Factor: .00220
Cap Cost Reduction: $0
Out the door:c$1850 to cover first payment, bank fee, title/reg, documentation.
Monthly Payment: $583/month w/ taxes rolled in.
 
I did my homework and the process was one of the smoothest purchase experiences I've had. Picking the car up tomorrow!!

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