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
#531 of 2764 Re: General Lease Questions [hpt]
Feb 10, 2007 (5:45 pm)
Hi hpt. Since you are new to the world of leasing, you definitely should check out the following informative articles that are available here at Edmunds.com prior to visiting any dealers: 10 Steps to Leasing a New Car and Calculate Your Own Lease Payment.
In answer to your specific questions, even though you missed the "December to Remember" sales event, Lexus is still running a pretty attractive lease program on the 2007 RX 350.
While some manufacturers run early lease termination programs for current lessees that lets them out of their deals a couple of months early at no charge, if you want to get out of a lease earlier than that you are usually going to end up paying more for your new vehicle than you would have had you waited until the scheduled end of your current lease.
Prices Paid Forum
#532 of 2764 Re: Current MF and residual??? [briegel]
Feb 10, 2007 (5:58 pm)
I would be happy to help you out, briegel. Lexus Financial Services' current buy rate lease money factor and residual value for a 36 month lease of a 2007 Lexus RX 350 AWD without the entertainment system with 12,000 miles per year are .00217 and 55%, respectively. When negotiating your lease on this truck, make sure to take the $1,250 dealer cash that Lexus is providing on it into account. It will help you to negotiate an attractive capitalized cost.
Lexus Financial Services' 36 month, 12,000 mile per year buy rate lease money factor and residual value for the 2007 RX 400h AWD without the entertainment system are .00203 and 56%, respectively. There is no dealer cash on this model right now.
Both of the aforementioned lease programs assume that you qualify for LFS' "Tier 1+" credit tier.
Prices Paid Forum
#533 of 2764 Re: Considering 07 RX350 should I wait and buy 08 [cidsparks]
Feb 10, 2007 (6:05 pm)
Hi cidsparks. You're right, I believe that dealers are starting to receive 2008 RXs in February. You will probably get a much better deal on a lease of a 2007 model than you will on a 2008 model right now. Not only will you be able to negotiate a lower selling price on an '07, its money factor is better than the '08 model's, and there is $1,250 dealer cash on the '07.
Prices Paid Forum
#534 of 2764 Re: 1 payment lease [salineg]
Feb 10, 2007 (6:09 pm)
Greetings salineg. Lexus Financial Services' normal buy rate lease money factor and residual value for a 48 month lease of a 2007 RX 400h AWD with 15,000 miles per year are .00203 and 42%, respectively for consumers who qualify for its "Tier 1+" credit tier. Its 12,000 mile per year residual value would be 2% higher. Consumers who pay for their entire lease in advance, reduce a .00100 reduction in their vehicle's money factor. So this truck's buy rate would drop to .00103 for an advance pay lease.
Prices Paid Forum
#535 of 2764 Re: what deal will i get?? [gigi5258]
Feb 10, 2007 (6:23 pm)
Hi gigi5258. A 48 month lease is a little long, but still acceptable, but you definitely shouldn't lease this car for 60 months. Not only is that way too long to lease any vehicle because a lot can happen over the course of five years to make you want / need something different (a change in commute, lifestyle, etc...), but Lexus' special lease program for the RX 350 is only available for a maximum of 48 months. If you lease for longer than that, the money factor that is used to calculate the interest portion of your lease payment will be much higher than it should be.
Also, it's never a good idea to make large down payments on leased vehicles. Consumers who do risk losing them if their vehicle is totaled in an accident or stolen and never recovered. There's nothing wrong with trading in your Honda Accord when you lease your new Lexus, just have the dealer that you are working with cut you a check for it instead of using the proceeds from it as a down payment for your lease.
I would be happy to give you an idea of what sort of lease payment you would have to pay on this truck right now, but in order for me to do so I need you to provide me with its approximate selling price. You should be able to get an idea of how much you will have to pay for it right now by visiting the following discussion: "Lexus RX 350: Prices Paid & Buying Experience".
Lexus Financial Services will likely require you to have full insurance coverage on any vehicle that you lease through it.
Prices Paid Forum
#536 of 2764 Having car serviced during lease question.
Feb 12, 2007 (6:29 am)
In a 3 year 36k lease, other than oil changes what services are mandatory and do most people leasing do the major services i.e. 15 and 30k?
#537 of 2764 Re: Considering 07 RX350 should I wait and buy 08 [Car_man]
Feb 12, 2007 (7:51 am)
Thx... I need to buy this car this weekend. Looking at AWD with Nav, Leather..mo DVD...what is a good deal over invoice? Is there another car out there I should look at? I have Infiniti FX35..looking to move a little higher up the scale on this lease or purchase..thank you kindly
#538 of 2764 2007 RX 350 Offer
Feb 12, 2007 (8:53 am)
I have been looking for RX 350 for my wife, and here's the offer my dealer has given. Any thoughts?
2007 RX350 AWD
Packages - Heated Seats, Rain sensing wipers, Towing Prep, Luxury Value (Leather, etc.)
MSRP - $41746
Lease CAP Cost - $38,500
3 year, 45,000 lease
Residual - 53% - $22,125.38
Payment - $598/month + tax
Lease Factor - I calculated to .00236 based on all the information provided.
I noted there is an additional $1250 dealer cash on this now (2007), and Edmunds TMV price for this is $40,306, less the $1250 and my $38,500 still seems pretty good.
Anything I'm missing?
#539 of 2764 Re: 1 payment lease [Car_man]
Feb 28, 2007 (10:08 am)
Is this .00203 money rate still good now? My dealer won't budge on a .00325 money factor... which I think is outrageously high. I'm looking at a 36 or 48 mo lease on a 2007 RX.
#540 of 2764 Re: 1 payment lease [lj233]
Feb 28, 2007 (11:07 am)
If you check at Lexus.com and click on RXH, the bottom right of the window it will say "What's New", the first option is "special leasing" deals. It doesn't tell you the apr but it does tell you that the deal goes to April 2. I got my RXH last thursday and I got it at 0.00203. But I do have tier one plus credit which does make a difference. So not sure what your scores are and what dealerships have you tried? Lindsey, Pohanka, Towson all gave me that rate but Annapolis and Rockville wouldn't budge. Shop around and good luck. Call my man Destin in Towson, he is younger and more hungry than all the other internet guys. I'm surprised that some of the other internet guys know how to use a computer. Anyway good luck