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Prices Paid: Buying & Leasing Experiences Lexus RX 350 / RX 400h Lease Questions
959 messages, Last post on Aug 29, 2008 at 10:37 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: richz (Mar 14, 2007 5:42 am) |
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Car_man, 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. Thanks!
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Replying to: Car_man (Aug 31, 2005 4:29 am)  7.75% rolled into the lease. The monthly payment will be $577, or $537 if I leave a $5,000 refundable security deposit. Does this sound like a good deal?
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I am considering a 27mo lease. My credit is excellent. I don't drive the car that much, so 10K/year is OK for me. Please comment whether this is a good deal or not, and suggest a place were you might be able to get better rates... Car: 2008 RX 350 AWD, Navigation, Premium Plus. I am being offered the following lease terms: Term: 27 mo residual: 71% Miles/year: 10K Money Factor: 0.00275 Total Initial Fees: 800 Lease-End fees: 400 Also, can someone post any prices paid for the car above? |
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To get the color/features choices that my wife wants, the dealer in the Boston area (Lexus Watertown) said we really ought to order the car. That's fine with us as we have lots of time, don't mind waiting 12 weeks. The dealer said we would agree on price before placing the order, and the leasing terms would be whatever Lexus leasing terms are when the car comes in and he sells to us. That's fine with me, but only seems to work correctly if the dealer has no discretion on leasing terms. I think that's right -- I think the dealer negotiates price and sells the car to the leasing company, and that Lexus doesn't give the dealers flexibility to modify leasing terms to get the deal done. But can someone confirm this? I want to be sure I don't get nailed on ugly leasing terms if I go this route. Let's assume for this purpose I can negotiate a price I am happy with.
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Replying to: dgrahamr (Mar 28, 2007 7:49 am) Lexus sets the MSRP and the residual value (a function of months and miles). It also sells financing to the dealer for X. The dealer controls the selling price used in the lease calc when they cut a deal with you. LFS "sells" the financing to the dealer for X, which the dealer can then mark up when they use it to calc your lease payment (the "money factor"). Just like a bank does when they buy money from the Fed and turn around and lend it to you at a higher rate. So you MUST get it in writing NOW that they will use the "buy rate" money factor which happens to be in effect at the time your car arives. It changes monthly, and is set by Lexus. However, Lexus allows the dealers to mark that up to make extra profit. The acquisition fee (about $695, I think) is also set by Lexus, but they allow the dealers to mark that up too, so the dealer might add $200-$300 there. So agree on a price and insist that they use the buy rate money factor and standard acq fee. |
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CarMan, Is this a good deal? 2008 RX 350 MSRP - $44,146 Invoice - $38,917 36 month, 15k/year lease Residual = 56% Money Factor = 0.00228 No Down Payment Pre-tax payment = $540/month Thanks for your help!
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Replying to: spyglass1 (Mar 28, 2007 1:53 pm) |
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CarMan, Please advise if this is a good deal: 2008 Rx 350 MSRP = $45,706 Invoice = $40,284 36 month lease / 15k miles/year Residual = 56% Money Factor = 0.00228 No Money Down $570 (pre-tax) / month |
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Replying to: spyglass1 (Mar 29, 2007 1:16 pm) $5500 off MSRP. Sounds pretty damn good. Is that the price they're going to sell you the car at, because that's all that matters. If it's just some number that's floating in the fog then who cares what invoice is. 56% residual is set by Lexus. The dealer doesn't control that. Money factor sounds good. Is that what everybody else is getting? Have you done the proper research and looked back over these postings? Doing so will tell you what the buy rate MF is for March. If it's .00228 then that's very good. If it's less, then the dealer is making money off the lease payment. Starting to get the hang of this? No money down is good. Using my own little spreadsheet I get $576.98 per month, pre-tax. So the math is off a little but then I don't know the intricate details of your deal. I'd say it's good. Jump on it. MF may slide down a bit in future months, but you can't time the market. Good Luck! |
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