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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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#172 of 1570
Re: Just Leased! [caligirl5] by pialphaphi28
Jun 30, 2006 (1:55 pm)
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Replying to: caligirl5 (Jun 30, 2006 9:27 am)

caligirl5:
 
Leased at Longo in El Monte. I also emailed several other dealerships and I mostly got .00145 or .00155 but nothing over that. I've seen as low as .00125 on this board though. Pulled the trigger yesterday since the bump in interest rates got me scared for next months factors. Plus it was near the end of the month so I figured what the heck.
#173 of 1570
Leased on the East by pennylane
Jul 03, 2006 (3:12 pm)
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I wasn't planning to lease because I need a lot of mileage, but I think this is a good deal on a new 2007 RX350.
I'd appreciate your thoughts on this deal:
AWD & Premium Plus (but no NAV):
MSRP 43933
GROSS CAP 39405
20,000 miles (I will definitely use these miles)
36 months
$4567 ($down incldg cap cost, tax, 1st month, fees, etc)
 
To bring the monthly payment to $500/month
 
I know it's a lot down, but I sold my old car that gave me the extra cash.
#174 of 1570
Difference in the residual of units with and without entertainement system by mss443
Jul 13, 2006 (5:26 pm)
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I am about to close a deal on the 2007 RX 350 with Premium plus package, Nav and factory-installed rear seat entertainment system (RSES) . For 12,000 miles/36 months lease the MF is 0.00155 and the residual is 57%. For an identically equipped vehicle WITHOUT the RSES, the dealer quoted 59% residual. Is the two-point difference normal? Or, should it be 58%, or 59%? I have one more day to close the deal. So, if one of you experts out there can give me some guidance, it will be extremely helpful. Tx.
#175 of 1570
Re: Rx 350 AWD [wantmb] by Car_man HOST
Jul 14, 2006 (2:24 am)
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Replying to: wantmb (Jun 16, 2006 5:27 am)

No problem, wantmb. The RX is a nice truck and Lexus has some great deals on it right now. Its lease program is much better than Acura's program for the TL. If I was going to lease one of these two vehicles right now, I personally would go with the RX. It's the better deal. In my mind, the main advantage of getting a TL over an RX would be the TL's better gas mileage. However when I looked into it, the RX's mileage actually isn't that much worse than the TL's, 19 / 24 MPG versus 20 / 29 MPG. Just an FYI, Lexus enhanced its money factor for the '07 RX from .00170 to .00145 (for Tier I+ customers) in July.
 
Car_man
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Prices Paid Forums
#176 of 1570
Re: Carman can you help? [caligirl5] by Car_man HOST
Jul 14, 2006 (4:10 am)
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Replying to: caligirl5 (Jun 29, 2006 2:42 pm)

Welcome caligirl5. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.
 
Lexus' new July buy rate lease money factor and residual value for a 36 month lease of a 2006 RX 350 AWD with the rear entertainment system and with 12,000 miles per year are .00145 and 57%, respectively for consumers who qualify for its Tier I+ credit tier. Make sure to negotiate an attractive selling price on this truck (this should not be a problem in a competitive market like Southern CA) and that the dealer you get your truck from uses its buy rate lease money factor to calculate its monthly payment.
 
Car_man
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Prices Paid Forums
#177 of 1570
Re: Difference in the residual of units with and without entertainement sys by Car_man HOST
Jul 16, 2006 (5:00 am)
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Replying to: mss443 (Jul 13, 2006 5:26 pm)

Hi mss443. A 2% drop in the residual values of vehicles that are equipped with rear entertainment systems is very common. Many manufacturers' captive finance companies have similar deductions for vehicles with this option. Many banks charge a similar deduction for vehicles that are equipped with navigation as well, but Lexus Financial Services does not. The money factor that you were quoted for this truck is right in line with Lexus Financial Services' current buy rate.
 
Car_man
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#178 of 1570
Basis for Residual and the Residual for accessories by mss443
Jul 16, 2006 (10:25 am)
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Replying to: Car_man (Jul 16, 2006 5:00 am)

Car_man.. Thanks for your response. I have one more question. How is the residual calculated? Is it based on the MSRP or the negotiated price? My dealer says it is based on the MSRP. Additionally, do the add-on accessories such as remote starter etc. residualize at all? He is willing to give a 30% reduction in the list price of $699, but says that it is not residualized. May be he is correct. What is your opinion?
#179 of 1570
Re: Rx 350 AWD [Car_man] by screwjack
Jul 18, 2006 (5:55 pm)
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Replying to: Car_man (Jul 14, 2006 2:24 am)

I'm being offered a tri-state deal on a 2007 RX350 with Premium Plus package that seems odd.
 
Term- 36 months Miles- 12k
Residual-$24,959
Based on Tier 1+ credit approval
Selling Price- $39,723
Cap Cost Reduction - $2,500
Sec. Dep. (Waived) - $0
Acq. Fee - $600
Total Drive Off - $3,549
The above pricing does not include registration, doc fees or taxes.
 
On a follow-up the sales guy noted the Money factor was .00175 and the total drive off - which I take to be incld taxes fees, etc, is more like $4137, and the Lease payment with tax is $479 ($449 without).
 
I can't make those numbers work in the lease calculator - it keeps spitting out a higher lease payment than I am quoted. Also, the residual seems high at 62%. I know the cap cost reduction is high, and according to your last post the MFs can be as low as .00145 this month. I feel like I am missing something. Is this a dog with fleas, a dog, or a show dog lease?
 
Thanks!
 
Confused
#181 of 1570
Re: Rx 350 AWD [screwjack] by mss443
Jul 26, 2006 (10:56 am)
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Replying to: screwjack (Jul 18, 2006 5:55 pm)

After making a rough adjustment for the capital cost reduction (without considerting the time value of $2500 over the period of lease), the residual is approximately 56.5%. This seems to be leaning towards the side of the dog with fleas because LFS residual for the month of August is supposedly 58% for the car with no RES. [It was 57% and 1.145 when I acquired my vehicle a couple of weeks ago when Lexus had some lease promotions both with respect to the residual and MF.) Looks like it is about $800 -1000 overpriced over the duration of the lease. For the purpose of comparison, consider asking him the residual value without capital cost reduction. As an alternative, why dont you consider the multiple security deposit promotion and see whether you get a greater benefit through that route. Good luck.

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