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Lexus RX 450h, Lexus RX 350, Car Leasing, SUV
#1979 of 2665 RX 450h lease questions - money factor/residual for 36mo
Aug 27, 2010 (9:18 pm)
In the market for a RX 450h 2010 lease - 36 months.
Location: Los Angeles, CA.
Westside dealer on a $51,900k MSRP RX 450h (basic package), is quoting $49,400 price, money factor 0.002 (4.8%) and 3 yr residual of $30,100. He then said all that comes out to a $695/month payment IF I put down $5000 and this is a 10,000 mile/yr lease. The 3yr residual comes to 58%..seems low from what I have seen posted here but maybe they've dropped with economy weakening and with new 2011 Lexus model coming. Dealer did mention though the RX 450h 2011 now probably will not come out until end of the year...or was that yet another "stretch"? Anyways, any views or facts on those numbers? The $695/month seems high...can't seem to get to it when I plug it into an Excel spreadsheet. Appreciate any advice/info.
Thanks very much - Novice lease buyer.
#1980 of 2665 Re: How is this deal? [ivada]
Aug 28, 2010 (10:36 am)
My research suggests this would be a pretty good deal. I'm guessing it should be only $13/month more to go from 10k to 12k per month. However, I'm thinking you should be able to go a little lower on this deal with less down possibly, say $2k out of pocket. However, this seems close. Depends on availability, of course, too.
#1981 of 2665 Re: RX 450h lease questions - money factor/residual for 36mo [westcoast6]
Aug 28, 2010 (10:43 am)
We just leased our 450h, also in LA. List was $54k, 4 yr/12K miles per year. We put $1400 down, included chrome wheels and the $700 "damage package." The monthly was $599 not inc tax. (Apologies from a previous post -- inadvertently said it was a 3 yr lease).
With that in mind. Your deal strikes me as "average," maybe a little worse. I'd be looking to put $2k down with monthly payments of no more than $645. I think your dealer has a lot of room left to negotiate.
Don't disregard the power of making them come up with lower numbers, without you countering. Also, don't be afraid to go elsewhere or to leave if you don't like what you hear. After all, it's the end of the model year and I'd be very surprised if the 2011 aren't here by October.
#1982 of 2665 Looking for Input....
Aug 28, 2010 (11:24 am)
I have done the #'s every way over again, trying to figure out if the deal I got on my lease is a good one, bad, or just ok...what do you all think?
I just leased a 2010 Lexus Rx350 AWD with Navi. The MSRP was approx 48,000.
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.
Any input would be greatly appreciated. Thanks!
#1983 of 2665 Re: RX 450h lease questions - money factor/residual for 36mo [andallthatjazz]
Aug 28, 2010 (2:51 pm)
Thanks for that info. If my reversed-engineered Excel spreadsheet is correct then you must have gotten them to lower the MSRP from $54,000 to around $46,625 which looks to be a good discount ($5275 off MSRP).
Then to get to your $599/month, before tax, I assumed a 0.002 (4.8%) factor, 25,400 residual, 45 Doc Fees, 600 Acq Fee, 352 Title/Reg/Lic Fee, 9 Tire Fee and included your 1400 downpayment. Your Adjusted Cap Cost on your contract should be around 47,181 and your all-in payment going forward is 648/month incl tax (9.25%). Curious if I got close or if I have some errors/bad data? I guess the other figure the dealer can potentially tweak is the residual. If I may ask what residual did they give you?
#1984 of 2665 2010 Rx 350 AWD with Nav
Aug 31, 2010 (5:05 am)
Hello i am in process of signing a lease in VA. Here are my numbers. please suggest if this is a good reasonable deal.
Miles- 12K per Yr
Duration- 3 Yrs.
First 2 Services Free
Please help me if i can go for it.
Is there anything else i should be asking for
#1985 of 2665 Re: RX 450h lease questions - money factor/residual for 36mo [westcoast6]
Aug 31, 2010 (7:34 am)
Amazing! You came extremely close. Acq was $700, you hit the money factor (I think it was .00021) Doc Fees I think -- $55. I don't have the paper work, but I believe the residual was based on 49%, but that's just from memory. I don't plan to buy this one, so for me, wasn't an issue (higher is better of course in that case).
#1986 of 2665 Re: 2010 Rx 350 AWD with Nav [ram7088]
Aug 31, 2010 (7:42 am)
My research suggests that you have a very good/excellent deal. I don't think you could squeeze more than several hundred off the "down" or bring down your payment by more than $10-15 per month. For me, it's about getting "in the ballpark" of a good deal. At a certain point, you'll spend more time running around and haggling than it's worth. You might try this -- "I want to buy it, but I'd like you to take $700 more off the "down." They'll claim how you're squeezing them dry (in that nice shiny showroom you're sitting in) then make you wait 20 minutes. Finally, they'll come back with some counter offer, perhaps "splitting it to be fair." I'd take it and be done. If they don't come down at all, at that point, I'd tell them you're going to "leave and think about it." It really makes them nervous when you want to leave, for most dealers. That may be when they come down a little more. But, "you're so close....." Just some thoughts.
#1987 of 2665 Re: 2010 Rx 350 AWD with Nav [andallthatjazz]
Aug 31, 2010 (8:13 am)
Thanks for the quick response...
i will see what i can do... i want to make a following offer again and see
What do you say...
#1988 of 2665 Re: 2010 Rx 350 AWD with Nav [ram7088]
Sep 02, 2010 (8:14 pm)
Have a look at this....
http://www.truecar.com/Lexus/RX_350/2010/best-price-report-A965767C.html?colorIn- fo=Starfire%20Pearl,Black,6017_001_077.jpg&optionInfo=6511638,6511627,5974925,65- 99859,6511612,-6511632,6511629,5756397,-6511644&incentiveIds=0&trimId=309664&mod- elId=19025&zipcode=22202