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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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#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.
#182 of 1570
Just leased (with an option to purchase :) by sxylxy
Jul 27, 2006 (11:35 am)
Reply

Replying to: mss443 (Jul 26, 2006 10:56 am)

First, a thank you to all of the great info on the board. It helped during the 3 month process of looking for the right car at a good price. After dealing with dozens of salesmen, leasing specialists, European Delivery Plan people, etc...and having a full 90% lie to or mislead me, this board was a welcome respite. Most people in the auto trade will say anything to get you into the dealership, which makes the process that much longer.
 
It was very difficult to find a black Lexus RX 350 with Premium/Mark Levinson/black interior/AWD when the time came to lease. I really wanted the black interior but could not find it anywhere in the state. So I gave up on the black interior and the AWD.
 
MSRP: $48,243
Cap Cost: 42,450
Aquisition: 600
Residual: 26039 (54%)
MF: .00151
 
Fees (DMV): 394
 
Love the car! Hope this helps someone else. It's confusing with the reductions in the packages, etc... So Carman, how'd I do?
 
I plan to buy the vehicle at the end of the 3 years for the $26K and keep it for a year, until the warranty gives up. I get free car washes the whole time I have the car, 1st service free, and free shuttles to the airport. I'm happy It's the nicest car I've ever had.
#183 of 1570
Re: Just leased (with an option to purchase :) [sxylxy] by sxylxy
Jul 27, 2006 (11:38 am)
Reply

Replying to: sxylxy (Jul 27, 2006 11:35 am)

I forgot to add that my payment including tax is $639 and there was no cap cost reduction. Just 1st month + fees ($394). This RX has the Gen. 5 Navigation and Bluetooth.
#184 of 1570
August numbers from LFS by ebg
Aug 01, 2006 (11:23 am)
Reply
Hi Carman,
Please, share the residual and MF on a 36 month, 12K/year RX350 lease program. (No Navigation, Northern California).
 
I wonder why is the 48 month lease term not as popular? What would be the residual in this case?
 
Thank you.
#185 of 1570
To hybrid or not to hybrid? by dmemmolo
Aug 01, 2006 (5:02 pm)
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Hi Carman,
 
My husband and I are thinging about the Rx400h, but I am having a hard time making the decision to pay such a huge premium for a vehicle. If I am calculating correctly, it will cost me nearly $300 more per month to lease a 2006 RX400h than a 2007 RX350. Are my calculations correct?
 
Thanx
#186 of 1570
Re: Basis for Residual and the Residual for accessories [mss443] by Car_man HOST
Aug 02, 2006 (1:56 am)
Reply

Replying to: mss443 (Jul 16, 2006 10:25 am)

You;re very welcome, mss443. Vehicles' residual values are based upon a percentage of their full MSRPs, including destination charges and the MSRPs of any options that can be residualized. You may not be able to residualize dealer installed options. If that is the case, in order to have a dealer installed option added to your lease you would have to pay for the entire thing over the length of your lease. As a result, a remote starter that has a price of $489.30 (30% off of $699) would increase the monthly payment of a 36 month lease by $13.59.
 
Car_man
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Prices Paid Forum
#187 of 1570
Re: Rx 350 AWD [screwjack] by Car_man HOST
Aug 02, 2006 (2:01 am)
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Replying to: screwjack (Jul 18, 2006 5:55 pm)

Hi screwjack. Lexus Financial Services' current buy rate lease money factor (as of July 27th) for the 2007 RX 350 is .00175. I would be happy to use this number to estimate what your lease payment should be on this truck, however in order for me to do so I need you to provide me with its full MSRP.
 
Car_man
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Prices Paid Forum

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