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Lexus RX 350 / RX 400h Lease Questions

948 messages,  Last post on Aug 21, 2008 at 12:27 PM

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What is this discussion about? Lexus RX 330, Lexus RX 350, Lexus RX 400h, Car Leasing, SUV

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#588 of 948 Is this a good deal? by dukie3 Apr 14, 2007 (3:55 pm)
Car man or other experts:   I am in Jersey City, NJ and started to ask around since last week for leasing quotes for a 2008 Lexus 350 AWD, Premium Plus, and NAV.   Here is the best offer I has got so far:   MSRP: $45706 Invoice: $41000 27 months lease/10k miles a year Residual: 71% Money factor: 0.00275 Down pay: $1515 Monthly payment plus tax: $557   Could you let me know if this is a good deal?   Also, it's very likely that I will buy the car at the end of the lease. Should I expect I only need to pay the residual value + tax + registration fee when buying it from the leasing company?   I don't drive the car to work and will only use it for weekends leisure driving, so I probably will end up with a less than 15k mileage on the car at the end of 27 month lease. I gather it make more economic sense to buy it at the residual value and then sell it higher on Craig's list?   BTW, info i got here was very helpful when i cut price with the dealers because I was able to talk in their language. So thanks a lot!!!   JZ Replies to this message: westshore (Apr 15, 2007 6:10 am) Car_man (Apr 18, 2007 2:25 am) geekma (Apr 18, 2007 10:49 am) Car_man (May 16, 2007 2:41 am)
#589 of 948 IS THIS A GOOD LEASE RX350 2WD W/NAV by westshore Apr 15, 2007 (5:58 am)
I WOULD LIKE TO KNOW IF THIS IS A GOOD LEASE. MY DEALER SAID IT IS A LEXUS SPECIAL AND THEY MAKE NO MONEY ON THE DEAL(SURE)   2008 RX350 2WD W/ NAV   3900 OUT OF POCKET WHICH INCLUDES 1ST AND FEES   36 MONTH LEASE 15K MILES 499.00 PLUS TAX BUYOUT IS 24800 THANKS. PS SHOULD I LOOK AT AWD OR IS 2WD FINE. I LIVE IN FL Replies to this message: Car_man (Apr 18, 2007 2:27 am) scotty14 (May 01, 2007 12:12 pm)
#590 of 948 Re: Is this a good deal? [dukie3] by westshore Apr 15, 2007 (6:10 am)
Replying to: dukie3 (Apr 14, 2007 3:55 pm) WHAT IS YOUR BUY OUT PRICE
#591 of 948 Re: Need help with '07 RX350 Lease Numbers [richz] by Car_man HOST Apr 17, 2007 (3:42 am)
Replying to: richz (Mar 14, 2007 5:42 am) You're very welcome, richz. No offense taken. I am sure that these residual values are accurate.   Car_man Host Prices Paid Forum
#592 of 948 Re: when is the rx new generation coming [billmv] by Car_man HOST Apr 17, 2007 (3:46 am)
Replying to: billmv (Mar 15, 2007 9:32 am) You're right, the '08 RX 350 is noW available at dealers . That's what I get for typing before finishing my first cup of coffee. Most of the dealers in my area have been sold out of 2007 RXs for weeks as well. Toyota, including Lexus, is an amazing company. The traditional domestic manufacturers, like GM, Ford, and Chrysler have leftover models that linger for months and months, but Toyota seems to transition from one most year to the next in only a month or two. The quicker leftover vehicles are sold down, the better. The ones that linger on lots usually have to be heavily discounted, which isn't good for their residual values, the dealer that has to cut his profit to the bone, or the manufacturer that has to provide tons of incentives.   Car_man Host Prices Paid Forum
#593 of 948 Re: '07 RX350 Lease Help [highfidelity] by Car_man HOST Apr 17, 2007 (3:49 am)
Replying to: highfidelity (Mar 20, 2007 10:39 am) Welcome back, highfidelity. Lexus Financial Services' current buy rate lease money factor and residual value for a 2008 RX 350 AWD without the entertainment system leased for 36 months with 12,000 miles per year are .00195 and 58%, respectively. Using these numbers, an MSRP of $41,746, and a selling price of $39,000, I estimate that this car's zero down, pre-tax monthly payment should be around $534.   Car_man Host Prices Paid Forum
#594 of 948 Re: Lexus RX 330: Lease Questions [marqevans] by Car_man HOST Apr 17, 2007 (3:53 am)
Replying to: marqevans (Mar 21, 2007 8:28 pm) Wow, this is your fifth Lexus RX marqevans. Lexus should pay you to do an advertisement for it . I would be happy to give you my opinion of this deal, but it would be a big help if you provided me with this truck's selling price. This number will show me how much of a discount you are being given on it. Let me know and I'll tell you what I think.   Car_man Host Prices Paid Forum
#595 of 948 Re: 2008 RX350 AWD 27mo lease [oiakou] by Car_man HOST Apr 17, 2007 (3:56 am)
Replying to: oiakou (Mar 24, 2007 4:49 pm) Hi oiakou. The money factor that you were quoted is too high. Lexus Financial Services; current buy rate lease money factor for a lease of a 2008 RX 350 by a consumer who qualifies for its top credit tier is only .00195. If your credit is in good shape, make sure that this factor is used to calculate your monthly payment. The other negotiable aspect off this deal is your truck's selling price. The selling prices of leased vehicles are negotiable, just as if you were paying cash for or financing them. It is important to find out what the exact selling price of the vehicle that you want is before leasing it. If you tell me what this number, along with the full MSRP are, I would be happy to give you my opinion on this deal.   Car_man Host Prices Paid Forum
#596 of 948 Re: Lease/Order [dgrahamr] by Car_man HOST Apr 17, 2007 (4:03 am)
Replying to: dgrahamr (Mar 28, 2007 7:49 am) Hi dgrahamr. What you said about dealers not setting lease programs is mostly correct. If you lease this truck through Lexus Financial Services, it will determine the money factor and residual value that are used to calculate your monthly payment. Individual dealers do not have the ability to alter banks' published residual values and they cannot lower their published money factors. Notice I said that dealers cannot lower banks' published money factors. Dealers are usually allowed to "mark-up" banks money factors to add hidden profit to deals. This is why it is important to know what the buy rate lease money factor is for the vehicle that you are interested in before finalizing any deal. LFS' current buy rate lease money factor for the 2008 RX 350 is .00195 for consumers who qualify for its top credit tier. This money factor is scheduled to be available through the 4th of July. If your ordered truck comes before then, make sure that the dealer uses it to calculate your lease payment. If your truck doesn't come in until after that date, there is a good chance that its buy rate will be different. You can always check back in this discussion then for an update on what the new buy rate is.   Car_man Host Prices Paid Forum
#597 of 948 Re: Good Price? - Please Help [spyglass1] by Car_man HOST Apr 17, 2007 (4:07 am)
Replying to: spyglass1 (Mar 28, 2007 1:53 pm) Hi spyglass1. In your post you provided both this truck's MSRP and its dealer invoice price, but not its selling price. Do you know what its selling price is? This number will show how much of a discount you are being given. The money factor that you were quoted is a little on the high side. In the areas that I have seen this truck's current lease program for, its current buy rate is .00195 for consumers who qualify for its Tier 1+ credit tier. Try to get the dealer that you are working with to use that factor to calculate your monthly payment.   Car_man Host Prices Paid Forum

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