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Lexus RX 450h, Lexus RX 350, Car Leasing, SUV
#1956 of 2767 Lease used RX 350?
Jul 30, 2010 (6:49 am)
Hi car_man and all interested; I'm interested in leasing a used/certified pre-owned RX 350, maybe 2008 model with AWD and nav, maybe priced at $33k. Lexus' CPO web page says leasing is available at the same lease rates as new, but I'm not sure if dealers are on board. I figure with less to amortize and the same lease rates as new the used lease should be well below that for a new car.
Has anyone gotten a lease deal on a CPO RX 350? any thoughts on the lease payment? I'm thinking 36 months, 33K cap cost, no down only usual inceptions/fees, 12k miles per year. I'm in north NJ.
#1957 of 2767 Re: Lease of 2010 Lexus RX350 [Car_man]
Aug 01, 2010 (5:32 pm)
Thanks Car Man...New question
I'm still in the market for a Lexus RX350. Came close in July but dealer wants me to put money down on top of title, tax,$700 acquisition fee and 1st month .
Friend in NY leased a Acura TL. He tells me that he only pays tax on the value of the car for the length of the lease.
My Lexus dealer in Maryland says you have to pay tax on the full value of the car at the time of lease.
Is the rule different by state? Am I not understanding the tax issue?
Aug 03, 2010 (7:56 am)
A reporter is looking to speak to consumers who recently got a new vehicle because of the great lease deal. Please send your daytime phone number and the car you purchased to ctalatiedmunds.com by Friday, August 6, 2010.
#1959 of 2767 BEWARE of Lexus Financial Services
Aug 04, 2010 (7:03 am)
Just a warning based on experience. If you choose to lease a lexus from Lexus Financial or a Toyota Financial Services do your due dilligence and check out the posts on the internet regarding these companies. Lexus Financial has an F rating from the BBB in Illinois. You really have to work to get an F rating from BBB. I leased my vehicle in 2007 with the intent to sell it before the lease end. Lexus now informs me that they do not sell cars to third parties. My only option is to purchase the car, by financing it, pay sales tax and then turn around and sell it to someone who will finance it and pay sales tax again. I might add this is not my first rodeo, I have leased cars for years from many different companies and HAVE NEVER been told I could not sell the vehicle at lease end. BTW, this is information will not be in your lease contract, as it is not in mine. There are other banks that lease cars, do yourself a favor and find another lender.
#1960 of 2767 Re: BEWARE of Lexus Financial Services [whynissan]
Aug 04, 2010 (7:27 am)
I have previously leased 3, going on 4 Lexus vehicles all through LF here in California. I have had no issues with them of any kinda and have actually found them to be very accommodating when it came to extending my lease.
I think the situation you describe above is a somewhat uncommon one and it is not surprising to me that they make you purchase the car first. I know for a fact that a Lexus dealership can purchase the vehicle directly. 2 of the 3 vehicles that I have turned in I have actually been sold to the dealership for positive equity or for the same price as my payoff (2 different dealerships).
#1961 of 2767 Re: BEWARE of Lexus Financial Services [whynissan]
Aug 05, 2010 (6:02 pm)
I just started on my second leased vehicle with Lexus. Interestingly, my brother and his wife were interested in purchasing my '07 RX350 that I was turning in (at the last minute, I might add, the day I was going to be turning it in for my new vehicle). Lexus was giving me 19,500 for my '07 RX which would have covered my last payment that was due. Well, I had to call and tell them that my brother and his wife wanted to buy the '07 RX. I explained that they were going to check on interest rates with their local bank but also wanted to see what LFS's rates were.
The dealership agreed to sell the car to my brother and his wife for the 19,500 plus dealership fees and taxes. They ended up financing with LFS since they were offering a competitive finance rate. They also ended up purchasing an extended warranty for 2 years or 100,000 miles. Needless to say, I think they got a pretty good deal on my old car. The car was well cared for, even though it had 56,000 miles on it. The sister-in-law is enjoying the vehicle!
Aug 07, 2010 (12:51 pm)
We are considering leasing an RX 450h with all the toys. The local dealer is quoting the following on AWD and Option A (Model 9444) with an MSRP of $53,985
Terms: 12k/year, 36 mo lease
Here's the deal:
Drive Off Fee: $1400
Monthly fee (not including tax): $613.50
1. Is AWD as good or better than FWD, accepting the 1 mile/gal penalty I've read about?
2. Is this a good deal?
3. Should we consider a 4 year lease with a drive off of $1370 and Monthly fee (not including tax) of $585?
Aug 07, 2010 (2:32 pm)
I just leased a 2010 Lexus Rx350 with Navi. The sticker was....approx 48,000, but the gross capitalized cost ended up being 43,872.60.
I put 1278.46 down which included my first months payment. My mothly payment, tax and all, is 590.71.
48 months with 15,000/miles per year.
Good Deal/Bad Deal/Ok Deal? Just wondering. THANKS
#1964 of 2767 Re: Lease of 2010 Lexus RX350 [msmmim]
Aug 09, 2010 (2:32 am)
No problem msmmim. Yes, the method for calculating sales tax on leased vehicles varies from state to state. I am not personally familiar with how sales tax is calculate on leased vehicles in Maryland, but you might be able to find out by visiting one of the following sites:
Maryland Motor Vehicle Administration
Prices Paid: Buying & Leasing Experiences Forum
Aug 09, 2010 (6:42 am)
Just wondering if you think this is a fair deal:
(I live in NY)
2010 RX 350 AWD ---no additional options
3700 total down includes taxes, title, fee's etc.
499 per mo
42 month lease
42,000 mile allowance
Thanks in advance --Matt