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Lexus RX 450h, Lexus RX 350, Car Leasing, SUV
#2220 of 2767 Re: Question for Car_man [dglozman]
Jun 14, 2011 (3:59 pm)
Hey dglozman. Lexus Financial Services' buy rate lease money factor and residual value for a 36 month lease of a 2011 RX 350 AWD with 10,000 miles per year are .00165 and 60%, respectively for consumers who qualify for its top aka "Tier 1+" credit tier.
Unfortunately, I am not aware of any source that provides accurate information on manufacturers' current programs to the general public.
Normally I would advise someone who was in the market for an '11 RX 350 to shoot for $500 to $1,000 over dealer invoice, but I'm not sure what the inventory situation is like for this model right now. If they are in short supply as a result of the Japanese supply disruption then one might have to pay more than that.
Prices Paid: Buying & Leasing Experiences Forum
#2221 of 2767 Re: Question on offer hard to compare to anything [davidesq]
Jun 14, 2011 (4:12 pm)
It is funny, but I'm also in NJ and also have current 2009 RX350 with two payments left. But we only have 22k on odometer.
What dealership did you visit? We live in central NJ, and so far only went to Freehold Lexus - the same one that we leased out current car. I want also to try Bridgewater since they are participating in Costco Auto program.
#2222 of 2767 Re: Question for Car_man [Car_man]
Jun 14, 2011 (4:14 pm)
Thank you Car_man.
I was asking where do you get money factor and residual value information. Is it published on the Lexus website?
#2223 of 2767 Re: Question on offer hard to compare to anything [dglozman]
Jun 14, 2011 (6:35 pm)
The quote I listed above is from Prestige Lexus but our current lease is from Bridgewater (only 15 minutes from where we live) and we're waiting to hear back from them tomorrow on what sort of deal they'd make. Their original lease offers were too high but hoping they'll come down. We were paying $585 on our '09 Pebble Beach (paid $1300 or so upfront but that included the first month so it was pretty much nothing down other than the required stuff).
We had a 36K lease and are approaching 52K on the odometer with 6 weeks to go on the lease. That job location change killed us! Pretty much have to stick with Lexus and hope to get a good deal to get some discount on the extra miles. We love the RX350 so no problem there - just trying to get as good a deal as possible. We "owe" about $4000 on the extra miles and not sure how much we should figure would be reasonable for them to add to whatever bottom line we can neogtiate. Clearly they can discount that $4000 but clearly we'll have to pay something above what someone else would be paying who didn't have the overage.
#2224 of 2767 Is my math correct?
Jun 15, 2011 (4:31 am)
Considering that the purchase price is 44K. MSRP is 48,900. Residual is 60%. Money Factor is .00165. 36 Months lease. $0 cap cost reduction (or I can apply $1000 incentive for current Lexus lease holders). 7% tax that I would want to put into the payments.
I get $533 a month not including Title, registration and fees. Am I correct?
#2225 of 2767 Re: Question for Car_man [Car_man]
Jun 15, 2011 (4:58 am)
What is the money factor and residual for 36mo lease, 12K miles per year?
I'm looking at a base model only and thus, I have the lowest purchase price ($40.5) I've come across on these forums. Yet, my costs ($549/mo, $2,500 walk away) do not reflect that. I must be doing something wrong with my math.
#2226 of 2767 Re: Question for Car_man [metrony]
Jun 15, 2011 (7:07 am)
If you are buying the base model, I think your purchase price should be more than 3000 less than 40,500, no?
As per Car_man's previous post: MF = 0.00165, RV=60% for T +1
Jun 21, 2011 (5:45 pm)
Agreed to the deal from Freehold Lexus in NJ. RX350 AWD with Navigation package (I believe MSRP is $48600). 36mo, 10K miles per year. $555 per month (including taxes), $1700 initial payment(includes 1st payment, Bank fee, Doc fee, and title/registration charges). It also includes 1k loyalty rebate and one payment for my current lease.
I probably could of done a little better then that, but I think it is a good deal.
#2228 of 2767 Re: New lease. [dglozman]
Jun 21, 2011 (7:34 pm)
We just picked up ours yesterday! Ended up with what I think is a pretty good deal all things considered. RX350 AWD, Nav, Comfort, Premium, parking assist, leather trim. 15K miles/year. Did $660 per month (inc. tax) and $2100 initial payment. The rate and initial payment also took care of our last payment on the prior car plus 16,200 miles over our limit on the old lease (which would have had us on the hook for over $4000 if we didn't make some deal).
#2229 of 2767 Re: Question for Car_man [dglozman]
Jun 29, 2011 (4:08 pm)
You're welcome dglozman. No Lexus does not provide consumers with information on its money factors and residual values on its website.
Prices Paid: Buying & Leasing Experiences Forum