Just leased Lexus over internet... did I get a good deal?
07-29-11, 04:16 AM
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Just leased Lexus over internet... did I get a good deal?
Hi all,
I just arranged a 36 month lease on an RX 350 - my first ever Lexus, so I thought I'd register on the forum.
I currently live in London, but am moving to New York in a couple of weeks. I really needed a car for when I first arrived. My wife wanted an SUV, so we ended up going for the Lexus. We also considered the Volvo (very nice but hard to get a good deal) and a couple of American cars (wasn't especially impressed). Kind of scary getting a car I've not test driven over the internet, but I hear the car gets good reviews.
I arranged a three year lease for about $550 a month with $2k down. It's fully loaded with navigation and pretty much everything else you can have. The MSRP of my car is about $50k. I'm allowed 10k miles a year, which is fine as I won't be using it for commuting.
Does that sound like a good deal? I have no idea, but now I'm worried I should have haggled a bit more!
I just arranged a 36 month lease on an RX 350 - my first ever Lexus, so I thought I'd register on the forum.
I currently live in London, but am moving to New York in a couple of weeks. I really needed a car for when I first arrived. My wife wanted an SUV, so we ended up going for the Lexus. We also considered the Volvo (very nice but hard to get a good deal) and a couple of American cars (wasn't especially impressed). Kind of scary getting a car I've not test driven over the internet, but I hear the car gets good reviews.
I arranged a three year lease for about $550 a month with $2k down. It's fully loaded with navigation and pretty much everything else you can have. The MSRP of my car is about $50k. I'm allowed 10k miles a year, which is fine as I won't be using it for commuting.
Does that sound like a good deal? I have no idea, but now I'm worried I should have haggled a bit more!
07-29-11, 04:54 AM
#2
Welcome! I can't comment on the financial deal, but I don't think I could ever buy a model of car I had never taken a test drive in. I bought my used LS430 sight-unseen, but I had taken test drives in plenty of other LS430s and I had both a CL member and a mechanic inspect the car.
I do have a couple concerns with your arrangement:
- Some folks have complained that the current generation RX has a fore-aft pitching motion on some roads.
- AFAIK, you can't actually buy or lease a vehicle in the U.S. on the internet. Actual paperwork has to be signed by both parties and witnessed by a notary. If all you have is an internet "deal", the terms or actual vehicle may suddenly change when you arrive at the dealership to finalize the deal. Buyer beware.
Good luck with your lease and your relo.
I do have a couple concerns with your arrangement:
- Some folks have complained that the current generation RX has a fore-aft pitching motion on some roads.
- AFAIK, you can't actually buy or lease a vehicle in the U.S. on the internet. Actual paperwork has to be signed by both parties and witnessed by a notary. If all you have is an internet "deal", the terms or actual vehicle may suddenly change when you arrive at the dealership to finalize the deal. Buyer beware.
Good luck with your lease and your relo.
07-29-11, 05:11 AM
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Welcome! I can't comment on the financial deal, but I don't think I could ever buy a model of car I had never taken a test drive in. I bought my used LS430 sight-unseen, but I had taken test drives in plenty of other LS430s and I had both a CL member and a mechanic inspect the car.
I do have a couple concerns with your arrangement:
- Some folks have complained that the current generation RX has a fore-aft pitching motion on some roads.
- AFAIK, you can't actually buy or lease a vehicle in the U.S. on the internet. Actual paperwork has to be signed by both parties and witnessed by a notary. If all you have is an internet "deal", the terms or actual vehicle may suddenly change when you arrive at the dealership to finalize the deal. Buyer beware.
Good luck with your lease and your relo.
I do have a couple concerns with your arrangement:
- Some folks have complained that the current generation RX has a fore-aft pitching motion on some roads.
- AFAIK, you can't actually buy or lease a vehicle in the U.S. on the internet. Actual paperwork has to be signed by both parties and witnessed by a notary. If all you have is an internet "deal", the terms or actual vehicle may suddenly change when you arrive at the dealership to finalize the deal. Buyer beware.
Good luck with your lease and your relo.
I know, it's pretty stupid right? I have no real choice though. My grandfather has an RX450h, and so I know the car well, although I haven't driven it extensively. I really needed a car as soon as I arrive though. I figure if anything goes wrong it's a brand new car so they'll have to replace it. Obviously if I hate the thing then I'm stuck with it though! I doubt it will drive as nicely as my C-Class coupe, but I'm not expecting it to.
I haven't signed any paperwork yet, I have put down a deposit to hold the car and will sign paperwork at the dealership when I arrive. Trying to arrange financing without any US credit history is near impossible, but they are trying to work something out based on my salary and probably having someone co-sign. The dealership in NJ I'm using seems to be pretty well reviewed as far as I can tell.
I've never had a new car before, so pretty excited. I just hope everything goes smoothly...
07-29-11, 06:19 AM
#5
Lexus Champion
I know, it's pretty stupid right? I have no real choice though. My grandfather has an RX450h, and so I know the car well, although I haven't driven it extensively. I really needed a car as soon as I arrive though. I figure if anything goes wrong it's a brand new car so they'll have to replace it. Obviously if I hate the thing then I'm stuck with it though! I doubt it will drive as nicely as my C-Class coupe, but I'm not expecting it to.
I haven't signed any paperwork yet, I have put down a deposit to hold the car and will sign paperwork at the dealership when I arrive. Trying to arrange financing without any US credit history is near impossible, but they are trying to work something out based on my salary and probably having someone co-sign. The dealership in NJ I'm using seems to be pretty well reviewed as far as I can tell.
I've never had a new car before, so pretty excited. I just hope everything goes smoothly...
I haven't signed any paperwork yet, I have put down a deposit to hold the car and will sign paperwork at the dealership when I arrive. Trying to arrange financing without any US credit history is near impossible, but they are trying to work something out based on my salary and probably having someone co-sign. The dealership in NJ I'm using seems to be pretty well reviewed as far as I can tell.
I've never had a new car before, so pretty excited. I just hope everything goes smoothly...
When you are back to the U.S. you could just rent a car for a week or so while you shop around, test drive, make sure things are in order and you are sure of the car you want. Good luck to you.
07-29-11, 06:39 AM
#6
Lexus Test Driver
Based on a 50k sticker, selling price of 48k, $2000 down, leasecompare.com says $732 a month with 12k miles............
The regional deal on an RX without a lot of options shows this
MSRP: $39,075 - $40,475
Invoice: $35,363 - $36,630
MPG: 18 City / 25 Hwy
Get local dealer price quotes:
2011 Lexus RX 350
Lease Deal
Deal: $499 a month for 36 months with $4,198 due at signing
Notes: Offer available on RX 350 with AWD in New England, Greater New York, Mid Atlantic
Expires: 07/27/11
So a fully loaded RX for $550 for 36 months seems reasonable to me....
The regional deal on an RX without a lot of options shows this
MSRP: $39,075 - $40,475
Invoice: $35,363 - $36,630
MPG: 18 City / 25 Hwy
Get local dealer price quotes:
2011 Lexus RX 350
Lease Deal
Deal: $499 a month for 36 months with $4,198 due at signing
Notes: Offer available on RX 350 with AWD in New England, Greater New York, Mid Atlantic
Expires: 07/27/11
So a fully loaded RX for $550 for 36 months seems reasonable to me....
07-29-11, 08:36 AM
#7
Lexus Fanatic
Welcome to CL. 
If you don't insist on having a sport-oriented SUV (something that the RX definitely is not) I don't think you will be disappointed with the RX350. It is tomb-quiet, smooth, refined, and relaxing to get into after a hard day's work. It doesn't ride quite as smooth as the LS, of course, but nevertheless is quite smooth by SUV standards....and the drivetrain is like whipped-cream.
And, BTW, in this forum (Car Chat), you can discuss any vehicle, not just those with Lexus-nameplates. That's what the Car Chat forum is for. Just try and stay on the thread topics. 
We also have specific Lexus-vehicle forums on CL, including some for RX models.
If you don't insist on having a sport-oriented SUV (something that the RX definitely is not) I don't think you will be disappointed with the RX350. It is tomb-quiet, smooth, refined, and relaxing to get into after a hard day's work. It doesn't ride quite as smooth as the LS, of course, but nevertheless is quite smooth by SUV standards....and the drivetrain is like whipped-cream.
Originally Posted by kingofny
my first ever Lexus, so I thought I'd register on the forum.
We also have specific Lexus-vehicle forums on CL, including some for RX models.
Last edited by mmarshall; 07-29-11 at 08:42 AM.
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