Last post on Dec 11, 2013 at 7:23 AM
You are in the Prices Paid - Buying & Leasing Experiences
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Lexus RX 450h, Lexus RX 350, Car Leasing, SUV
#556 of 2770 Re: Need help with '07 RX350 Lease Numbers [richz]
Mar 13, 2007 (3:39 am)
Hi richz. 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.
If you are in an area that has a decent level of competition, I would not be surprised if you were able to negotiate a better price than the $42,463 that you were quoted. This price represents a discount of $3,250 from MSRP, but this drops to only $2,000 once the $1,250 dealer cash is taken into account. This is on a truck that likely has a spread of more than $5,000 between its MSRP and dealer invoice price. Not to mention the fact that the 2008 model is already at dealers, making them more anxious to unload their remaining '07 models.
The fact that the dealer that you are working with is making your final payment on your Acura for you is eating into the discount that you would normally be able to negotiate on your RX.
Lexus Financial Services' current 24 month, 15,000 mile per year buy rate lease money factor and residual value for the 2007 Lexus RX 350 without the entertainment system option are .00275 and 59% for consumers who qualify for its Tier 1+ credit tier. The options that your vehicle has does not have any impact upon its money factor, but it may have an impact upon its residual values. Unfortunately, I am not aware of a resource that provides accurate information on manufacturers' lease programs to the general public.
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#557 of 2770 Re: Need help with '07 RX350 Lease Numbers [Car_man]
Mar 13, 2007 (5:11 am)
Are you sure about the residual value being only 59%? This seems only very very slightly higher than after 3 years/15,000 miles. Also, I have seen people posting money factors lower than 0.002 in this thread. Was there some sort of support from Lexus that has now ended?
In my original post I asked how you are getting the residual values and money factors. Do you have some sort of inside knowledge? I am asking this so I know how much I can trust your numbers if I try and negotiate with the dealer.
Finally, what do you think about a 24 month lease vs a 36 month lease? I was thinking I could lease for 36 months and try to find someone to takeover my lease for the last 12 months if I don't want to keep the car any longer. I read the articles you linked to in your reply already.
#558 of 2770 when is the rx new generation coming
Mar 13, 2007 (2:19 pm)
hi, i saw lots well almost all discussions of price, can any1 tell when the next generation of the rx is coming? cause i found out today the new generation of lx is coming, which will be lx 570 v8 will be the first live appearance offically by lexus on april the 4. at ny auto show...but i am more interested when the rx next gener will be coming can any1 tell me, and the current generation which is this ? because i wasn't a fan of lexus before to be honest but now i am . so can any1 tell me which is this current rx generation?
#559 of 2770 Re: Need help with '07 RX350 Lease Numbers [richz]
Mar 14, 2007 (2:04 am)
Yep, I'm sure. Lexus Financial Services' 24 month, 15k residual value for a base '07 RX 350 AWD is 59%. The number for an otherwise identical 36 month lease is 53%. Lexus was providing a special lease money factor on the '07 RX 350 in February, but this program is no longer available in March. For March it moved its special money factor to the 2008 model. The above numbers are definitely right, but you don't have to trust them if you don't want to.
A 36 month lease will definitely provide you with a lower monthly payment than a 24 month lease would, but don't count on being able to easily find someone to assume the final year of a three year lease. Finding a consumer who is willing to assume your lease payment is often a lot easier said than done. Lessees often find that they have to sweeten their deal by paying money out of their own pocket to entice someone to take over their deal.
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#560 of 2770 Re: when is the rx new generation coming [ms09]
Mar 14, 2007 (2:13 am)
Hi ms09. The 2008 Lexus RX 350 is not available at dealers, but I don't believe that it is significantly different than the 2007 model. The '07 RX 350 just got a new, more powerful motor and a number of interior upgrades, so I suspect that we will not see a major redesign of this model until the 2009 model year. This particular discussion is for consumers to talk about leasing an RX 350. Try posting your question in the following discussion for better feedback on when a redesigned RX will arrive: "Lexus RX 350".
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#561 of 2770 Re: Need help with '07 RX350 Lease Numbers [Car_man]
Mar 14, 2007 (4:42 am)
I hope you didn't read my message wrong. I wasn't saying I don't believe you, I just wanted to make sure you sent me the correct numbers since 59% is also what the dealer ave me as the residual value but it just seemed a bit low.
#562 of 2770 Re: 2007 RX 350 - Ohio [toddturner]
Mar 15, 2007 (6:36 am)
Thank you Todd.
#563 of 2770 Re: when is the rx new generation coming [Car_man]
Mar 15, 2007 (8:32 am)
CM......I'm sure you meant to say NOW instead of "NOT available at dealers" in your post from 3:19 AM. My Lexus dealer here in Marin County CA claims to have sold out of 2007s six weeks ago.
Keep up the good work, and get some sleep!
#564 of 2770 Re: Need help with '07 RX350 Lease Numbers [richz]
Mar 15, 2007 (6:49 pm)
As a followup, I ended up negotiating the price of the vehicle to $40,000.
#565 of 2770 '07 RX350 Lease Help
Mar 20, 2007 (9:39 am)
You were a great help in getting me info for my RX330 lease. I now need some numbers for my father.
He is interested in a $0 down, 3 year, 12k mile/yr lease on a 2008 RX350 (better to look for a 07?). Which I have priced out at $41,746.00, figure $39k negotiated price (premium plus, no nav). Can you tell me what he should expect to pay and what the current residual and money factors are.