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Prices Paid: Buying & Leasing Experiences Lexus RX 350 / RX 400h Lease Questions
961 messages, Last post on Sep 02, 2008 at 6:13 PM
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Replying to: christina271 (Jan 30, 2008 4:58 pm) |
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Replying to: christina271 (Jan 30, 2008 4:58 pm)
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Thank you to everyone for the information on leasing the 2008 Lexus RX 350. We have been scratching our heads for the past week trying to figure out why the lease payment the dealer is quoting us is $638 (including taxes) when he says he is selling us the RX 350 at invoice ($38,600 for an AWD vehicle without nav or rear entertainment). The MSRP for this particular vehicle is $43,800. Here in Utah, we can only choose from 2 different packages. All vehicles sold in Utah are AWD with or without navigation. He says this monthly payment of $638 is based upon a money factor of .00255 and a residual of 58%. This money factor seems incongruent to the actual rate he quoted. He commented that my credit score qualifies for the top tier and that the associated interest rate is in the high 3's. This is also quite different from the money factor that I have been seeing on this site (.00144). Even when I crunch the numbers with the higher money factor, it doesn't crunch out to a payment of $638. I have also been reading on this site that Lexus Financial does not have a very good lease program. Help!! Maybe it is better to buy than to lease. Thanks in advance for your help. |
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Replying to: jebell (Jan 31, 2008 6:29 am) |
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Replying to: christina271 (Jan 31, 2008 8:52 am) |
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Hello again from the Great Salt Lake, I thought I'd check back in to share our experience with leasing the 2008 AWD RX350. Since we had not been able to make sense of the lease payment we made the decision to purchase the vehicle outright. That is, until we sat down with the finance manager. As it turns out, the computer at the dealership automatically pulled up 2009 money factors. This is why the payment they were quoting us over the phone was so much higher than what we were calculating (using the money factor and residuals posted on this site). When they plugged in the correct 2008 money factor the payment was lowered by $55 per month. So in the end we were able to get the vehicle at invoice ($38,600), 12K miles and a monthly payment of $579. So the moral of this story is Caveat Emptor! |
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Replying to: christina271 (Jan 31, 2008 8:52 am)
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Replying to: fsos (Feb 02, 2008 2:59 pm)
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| im looking for the best lease price i can find for the 2008 rx 350, 12,000 miles, tax included with navigation. Im pretty sure im getting ripped off with $653 a month for 36 months but im really not sure. thanks! | |
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I was quoted a lease price of $600 a month (tax included) for a 2008 RX350 AWD with Premium Plus, Navigation, Rear Entertainment, 18" 5-spoke Aluminum Wheels, Heated Front Seats/Rain Sensing Wipers/Headlamp Washers, Towing Prep Package, Wheel Locks, and Cargo Mat. Lease offer is 39-month, 10K miles/yr. I'm located in the New York/New Jersey aread. Is $600 a good lease price for this package? They started at $675. Thanks.
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