Last post on Dec 07, 2013 at 10:06 AM
You are in the Prices Paid - Buying & Leasing Experiences
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Lexus RX 450h, Lexus RX 350, Car Leasing, SUV
#2581 of 2764 Just got an 2013 RX 350
Feb 23, 2013 (5:06 pm)
The wife and I just switched our 2010 RX 350 for the 2013 model. We use the "loyalty incentive" they were offering, where Lexus Financial Services will waive up to 4 months of payments of your lease towards a new Lexus vehicle.
So, they waived our two remaining payments and we turned in our 2010 RX, and this is what we got:
2013 RX 350, MSRP of $51,189 - includes premium, comfort and Nav packages, 19-inch rims, parking assist, cross bars. A few more bells and whistles than our 2010 RX.
Lease terms: 36 months, 12,000 Miles/year
Money factor: 0.001 (equivalent to an interest rate of 2.4%)
Residual: 59% of MSRP ($30,201.51)
Down payment: $0
Drive off: 1st month's payment
Monthly payment: $565
This deal was consummated at a dealer in the San Francisco Bay Area.
Keep in mind that the money factor is not fixed! Just because they quoted you a number, does not mean that it's the lowest they can go. My first quote, the MF was 1% above what I ended up with. Always ask about their "buy rate", that should be the lowest they can go. Shoot for this number!
#2582 of 2764 Re: Just got an 2013 RX 350 [franky_j]
Feb 24, 2013 (7:48 am)
Franky... do you happen to know what the "Capitalized Cost" was in the monthly lease calculation ? I ran your numbers through 2 different calculation programs and both produced a montly lease of $509 using the selling price of 45808 ( assumed 1000 rebate was in the 45808) as well as other numbers you provided. Perhaps fees and taxes were added to the selling price giving a higher cap cost?
#2583 of 2764 RX 350 w/backup camera
Feb 25, 2013 (8:55 am)
Hi CarMan. I am about to pull the trigger on leasing a 2013 RX 350 2WD with MSRP of approximately $46k. Dealer willing to price at $500 over invoice. Also, telling us the residual for 15k miles is 57% and .001 MF.
Is MF below .001 possible with LFS? Also, with $1k incentive available for leasing with LFS, should I be able to get below invoice?
#2584 of 2764 Re: Just got an 2013 RX 350 [tenor_mike]
Feb 25, 2013 (10:03 am)
$45,808 was the gross cap cost. The adjusted cap cost came out to: $46,114.52. This includes license & reg fees as well as some filing & doc fees. When leasing, we're basically paying for the depreciation, which is based on your negotiation of the deal, plus the rent charge and tax. Depreciation for us came out to: $15,913.01 and rent charge came out to: $2,747.52. Add these two together, you'd get $18,660.53. Over 36 months, the monthly without tax came out to: $518.35. Tax in our area is 9%, so add $46.65 and you'd get $565. I think I got a good deal, but I'm sure if I played it a bit more, I could have gotten a better deal.
All in all, we are very happy with our deal, especially considering we had a almost exactly the same, 2010 RX 350, and we paid about $10 more per month.
I hope you and others here can use this to get a similar or better deal. I've received a lot of good information from forums like this over the years and want to contribute my experience back.
#2585 of 2764 why all the math?
Feb 25, 2013 (12:48 pm)
Hi car man and kyfdx, Can you please explain to me why everyone is so concerned with money factors, adjusted cost, depreciation, acquisitions and other fees when looking for the best price on a lease? I just leased a Lexus, and the only things that mattered to me were the lease price over 36 months and how much I had to pay out of pocket based on the sticker price. I wasn"t interested in buying the car at lease end. Much of this forum wasn't very helpful to me. What am I missing?
#2586 of 2764 Lease on LEXUS RX 350 AWD
Feb 26, 2013 (3:31 pm)
Here is the deal that i got from the one of the dealer. Please let me know what are your thoughts on it and give some tips where i can do any bargaining:
Sale price: $48771
Total Financed Aftermarkets ( these are the lojack and chip protection added to car) : $1551.00
Down Payment: $10,000
Upfront Charges: $940.11
Total Cap Reduction: 9592.97
Monthly payment: Base payment+tax = $425.24 + 41.67 = $466.91
Lease Term = 36 months
Money factor = 0.00150
Annual Miles: 10000
Please this is the first time i am going for a lease car and i need your inputs on thsi deal
Mar 08, 2013 (5:22 am)
Looks like the forum has come to a stop?
Anyway can you tell me if the March Lease factors are the same as February for this vehicle.
These have been the best combination I have seen in years.
I was considering THE 27 MONTH with 10,000 miles a year.
Factors were M.F. .00100 or with a 9x MSD .00028
Cash Incentive $1,000
So with a good selling price (probably $1,000 or more under invoice) the Lease comes in very favorable
#2588 of 2764 RX 350... cannot find a great deal
Mar 13, 2013 (2:57 am)
I have gone through 3 dealers, after that we are talking some serious driving (which I am willing to do to save a couple grand) Below is the best that I can come up. Everyone is crying that there is only 6% off MSRP to play with in total (not including incentives, which there is only 1000 right now so I am told)
>>> 1. 606.25 for 3y/12k
>>> 2. MSRP 50419 Discount $48300 less rebate $47300
>>> 3. MF=.00085
>>> 4. Residual 29747
>>> 5. 1450.00 at signing
I have read of much better deals, as a 4.4% discount is 1/2 of what I am seeing on other vehicals (MDX, XC 90, etc... )
I could extend my lease and wait for a better deal, it is not as if the inventory is tight. But the dealers are not moving.
#2589 of 2764 Re: RX 350... cannot find a great deal [drpoyer1]
Mar 13, 2013 (8:24 am)
Please tell where you are searching, city, state!
#2590 of 2764 Re: RX 350... cannot find a great deal [johnt53]
Mar 13, 2013 (3:44 pm)
This is NEO, Cleveland, Akron Area...