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Lexus RX 350, Car Buying, SUV
#1451 of 5523 Re: 2009 Lexus RX 350 Deal [dealmaker2008]
Sep 24, 2008 (4:40 am)
My deal was at Prestige Lexus in Ramsey, NJ. Scott Naft was my salesman. I don't have the sticker with me as I type this, but I can tell you the Pebble Beach Edition has the PPP, NAV, 18" special edition Wheels, AWD, rain sensing wipers, wheel locks, Pebble Beach floor mats etc. MSRP is $47,396.
It is a 36 month lease and gap insurance is included with all Lexus Financial Leases. Also, the multiple security deposit option saved $54 per month for a $4,500 deposit. It's fully refundable and that's a 14.4% rate of return, and I temporarily put it on the free Lexus Pursuits Visa they gave me which gives me cash back and no interest for 60 days.
#1452 of 5523 Re: 2009 Lexus RX 350 Deal [bmkj]
Sep 24, 2008 (8:03 am)
So the dealership sold this car at $7596 under MSRP (i.e. 47,396-39800)?
Does the $40,900 include the $1100 (inception fees, dmv)?
Does the $40,900 include the $825 delivery charge?
Did you get a Lexus Loyalty ($1000) discount as part of the above?
Does the $40,900 include anything else?
#1453 of 5523 Re: 2009 Lexus RX 350 Deal [robrepos12]
Sep 24, 2008 (10:14 am)
They actually sold it for about $6500 under MSRP. The $40,900 (I think the lease papers actually say $40,887) includes the $825 delivery, but not the $1100 inception fees. I did not qualify for the Loyalty rebate.
So if you do the math, the adjusted capital cost is approx $42,000 with the fees rolled in and the residual is $27,015 (57% of MSRP $47,396). Depreciation is approx. $416. Reduced money factor of .00073 on $69,015 equals approx $50. Total is $466 plus 7% NJ tax is $500.
Hope this helps. Let me know if you have any other questions.
#1454 of 5523 Re: 2009 Lexus RX 350 Deal [bmkj]
Sep 25, 2008 (3:01 am)
Thanks, I appreciate the info.
#1455 of 5523 Re: 2009 Lexus RX 350 Deal [bmkj]
Sep 25, 2008 (7:18 am)
That is a fantastic deal, well done! If only the SF Bay area dealers were that motivated to move their inventory! So far, I have only been able to get soemwhere in the 3s off MSRP and they sound like they are doing me a favor! I may need to go Southern CA in hopes of getting a better deal to buy one.
Thanks again and enjoy your new ride!
#1456 of 5523 Re: 2009 Lexus RX 350 Deal [slk2350z]
Sep 25, 2008 (12:32 pm)
bmkj paid 40,900 which did not include the lexus loyalty, but did include the $825 destination charge on a vehicle with an MSRP of 47,396.
lexusking paid 38,500 which did include the lexus loyalty ($1000) but from his post it looks like it DID NOT include the $825 destination charge on a vehicle with an MSRP of 46,241. I tried to contact him to clarify this (and to find out the name of his salesperson at the VA dealership) but didn't get a response.
So if we are comparing apples to apples, with the lexus loyalty, bmkj would have been 39,900 (with destination) against lexusking's 39,325 (with destination). This is a $525 difference in actual cost, but the MSRP differed by $1,155.
Also note that lexusking's dealership charged him tax on the $1000 lexus loyalty discount (something that other dealerships don't do), which at 5% VA sales tax would have been another $50, bringing the difference in actual cost to $475 against options of $1,155 included in bmkj's car and not included in lexusking's car.
Don't know if either of these two individuals had to pay a 'document' fee or any other type of bogus add-on fee. If so that might change the computation above.
Looks to me like bmkj did better.
#1457 of 5523 Re: 2009 Lexus RX 350 Deal [robrepos12]
Sep 26, 2008 (7:57 am)
If you read my previous post I did not pay any other fee. NO PROCESSING, NONE FOR MATS or anything else. 42K out of door with approx $2500 in tax and 225 for tags and $10 for electronic motor vehicle processing fee
I hate to write names, email addresses and or phone numbers on forums and can't figure out how to invoke the PM.
#1458 of 5523 Re: 2009 Lexus RX 350 Deal [lexusking]
Sep 26, 2008 (10:12 am)
To send a PM
1) hit 'reply' to this message
2) if asked to login, login
3) at Top of the page, click on 'My CarSpace'
4) at right, click on 'Mailbox'
5) at top, click on 'Compose'
6) in 'To' type in robrepos12carspace.com
7) in body, type in the name of your salesperson and the name of the dealership
8) at bottom (you may have to scroll down), press 'Send Message'
#1459 of 5523 Re: 2009 Lexus RX 350 Deal [robrepos12]
Sep 29, 2008 (5:19 am)
I think we both got good deals. I have to say this board was an enormous help in preparing my strategy. It amazes me how many people just walk in to a dealer without doing their homework. If you want a good deal, you need to check real world numbers on boards like this, know the invoice, know if there are incentives, know the money factors and residuals if you are leasing. It's all out there and there are plenty of people who will share their experiences.
Finally, after all your facts are gathered, don't be afraid to negotiate. Ask for as much as you can. The worst they can say is no. If you are reasonable and a serious buyer, you will get a good deal. Thanks again to all that helped me. I hope I can help future customers and pay it forward.
#1460 of 5523 Re: 2009 Lexus RX 350 Deal [lexusking]
Sep 29, 2008 (1:06 pm)
with the credit market drying up I am glad I bought it when I did versus waiting!