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Prices Paid: Buying & Leasing Experiences Lexus RX 350 / RX 450h Lease Questions
1592 messages, Last post on Dec 07, 2009 at 11:42 PM
You are in the Prices Paid: Buying & Leasing Experiences Forum. Your Hosts are car_man & kyfdx
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Replying to: rimini (Dec 05, 2007 1:19 pm) I dont believe that your dealer has included the sales tax, An RX 350 with navigation and based on your figure of 1500 down, the best you'd be looking at is roughly 600/mo. give or take a few dollars. at 561.00 per month and 1500 down they would be below cost on that vehicle and losing money on the deal. not possible.
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Replying to: akhi2006 (Dec 07, 2007 11:26 am) $450/mth includes the tax.... msrp was ~$43,100 residual is $24,100 not sure about money factor..... got credit towards the cap because my old leased rx was in good condition. good luck! |
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I posted a longer version of my experience on the "prices paid". But this is in response to the patsfan2/gene $561 discussion. I leased FWD, nav, prem +, tow prep, mats, wheel locks, heat w/rs, 5 spoke alloy (MSRP 44371). My cap cost was 39,900 (including the 600 acq fee). According to AAA's website it's $193 over invoice. I wrote a check for 937.71 for 1st mo + title/reg/fees + doc fee + tire tax at the dealer's. (With the fairly low money factor, .00155, I didn't see the need to put more down) I have 36 mo/36,000 mi and my payments are 561.25 (which includes los angeles county tax)
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Replying to: jules08 (Dec 07, 2007 9:59 pm)
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Replying to: patsfan2 (Dec 07, 2007 1:51 pm) Good Luck! Gene K
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Replying to: rimini (Dec 10, 2007 5:36 pm) Congrats on your new Lexus. I am in the market for the same vehicle. When I calculated your lease numbers, it appears you paid slightly over invoice price (not below). Your list price must have been approx, $45,866, up front fees must have been around $1,000, 36 month residual 10k should be 57%, money factor .00155, $1500 out of pocket, 9% sales tax. If these numbers are correct, you paid slightly above invoice price ($40,700). Still a great deal. |
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My dealership in Houston charged us .00225 for our money factor on a 36 month lease with 12K miles per year. We were told we had excellent credit. I am seeing money fatcors here of .00155. Is this what we were supposed to get during the sales event in December? and...can I get this rectified if so?
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Replying to: gotlogos1 (Dec 13, 2007 2:19 pm) Here is the deal we made: 2008 Lexus RX 350 FWD w/ Nav, Prem. Plus, Heated seats & Rain sensing wipers, Liquid Graphite 18 inch wheels, Cargo mat and wheel locks $44,466.00 MSRP + $300.00 Front Tinted Windows (dealer installed) + $200.00 pin stripe ======== $44,966.00 $41,000.00 (Paid, savings of $3, 966.00) + $134.05 (Title, License, Registration fees) + $600.00 (Acquisition fee) + $506.00 (L&M fee and Doc fee) ======== $42,240.05 (total capitalized cost for the LEASE) $632.70 monthly (36 month/ 36K Lease with .00225 money factor, $632.70 due at signing which was first month payment) (Dealer provides free loaner car for services except oil change and free pickup and delivery for any major service such as the 15K service. All services are free for first 25K - I am assuming this is standard for any Lexus new car lease or purchase? Except for the free pickup and delivery for the 15K service?) It appears from this forum that the BUY rate for this lease is .00155 from LFS to the dealer, during the December to Remember Sales Event. The dealer has to work from this. I understand there will probably be some mark-up, but at this point, I am wondering if I paid too much of a mark-up at .00225? I am not sweating it though, I didn't find this forum until too late. I am educated for my next rendevous. They did start at .00255 and reduced it to .00225. They themselves told us we had excellent credit. I would appreciate any feedback on this deal and also, what are the facts with sales tax on a lease? Did I indeed receive a 'special deal' on this that you normally don't get outside of their sales events, where they 'absorb' the sales tax cost? They charged the L&M fee (1.25 percent) as part of that 'deal', giving me a net savings on sales tax of about 1800.00 or so (??). The market is Houston, Texas. TIA for any feedback!
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Replying to: gotlogos1 (Dec 14, 2007 6:11 pm)
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Replying to: briegel (Dec 14, 2007 8:14 pm) Two dealerships mentioned this sales tax promotion, so I think it is very legitimate. I would like to hear what other Sales event customers have experienced this month. Maybe it is because of the sales tax absorption, basically a gimmick (shrugs), that they may not have had the room to provide a lower money factor. But I am sure I could have negotiated a few points lower if I knew their buy rate. Overall I feel good about the deal, but i woul dfeel very good if I could confirm that I indeed saved a legit 1.5-2 grand in the deal via sales tax gimmick. And of course, I learned much from the experience and I do love the car.
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