zoombie99

Any good lease deals out there yet?

kitlz

Only deal going on is for the Lexus Golden Opportunity, $499 for FWD RX350 with about $4k down. In the tri-state area, you could probably get an AWD with some packages for between $520-$550 and about the same amount down. Not exactly sure what a 450h lease runs but it will be substantially more.

Where in NJ are you? I'm from up north but go to Lexus of Bridgewater. Dealers up here suck big time.

zoombie99

I am up in Bergen, I may wait a month or two to see what happens.

kitlz

Sorry, I stay way south to avoid Bergen county prices. I don't live in Alpine

TriCounty quoted around $520-530 last month for AWD Nav RX350. My parents were looking, not me. They lost my business a long time ago when I was looking at the 99 RX. But I admit I have gone there a few times to get taillight bulbs replaced just to rile them

klegrow

I just got mine two weeks ago for $713 a month. That included the Nav, Comfort, and Premium packages. Also, the dealer didn't expect it, but it came off the truck with the remote starter. The sticker on the car is almost $53k. The things I didn't get at that price are the HUD, ML audio, adaptive cruise, and the folding mirrors (you get those in the Luxury package and I couldn't find it anywhere).

Ipswich

That's a nice monthly payment. May I ask what your total cap cost was -- how much you put down -- to do get the payment at $713?

I'm looking at what would appear to be a similary equipped 450h at $52,535 MSRP. Deal is $1,500 off MSRP, 57%, .00295 MF, no cap cost and payment of $825. 36 months/15k per year. Separately, dealer also would pay my last lease payment on the lease I'm giving back. (There is $3,600 due at signing mostly for taxes and first payment, and then some fees. No deposit. I've got to check on how much of that I can roll back into the lease and how much I can get taken out.)

I'm told the residual is standard from Lexus and the MF is assuming tier 1 credit. So the chief area for negotiation and ability to get the monthly payment down is off MSRP. Given what else I'm seeing on prices and tight inventory, $1,500 off MSRP plus paying last payment of my outgoing lease isn't too bad. Would be nice to get the monthly payment south of $800 though.

Feedback?

klegrow

Ipswich....I put down about $1900 at signing. That was not capital reduction, just the minimum inception due. The terms were 48 months at 12k miles per year. You could do the 36 month, as the 48 month didn't make a huge difference. I chose to do 48 months because the warranty is 4 years.

klegrow

Ipswich....FYI....I would go to Herb Chambers Lexus in Sharon. Both Watertown and Ira of Danvers SUCKED!!! They wouldn't deal on the car, were arrogant, talked down to me, and lied about a lot of things. Cliff at Sharon, MA is a good salesman and his manager Charles was very helpful.

LexLady75

I recently leased a 2010 450h with a MSRP of $54,610.00 (36 months w/12K mileage allowance). My residual was 59%, money factor 0.00251 (non-returning LFS customer w/excellent credit), and $3110 off MSRP. I was not required to put down a down payment or security deposit. However, I chose to pay the acquisition ($700), registration & tags ($300), and doc fees ($100) out of pocket and added an additional $2K as a down payment. I also netted an additional $2711.40 from a trade-in. The adjusted cap cost was $46,753.75. Monthly payment is $601.93 w/o the PA tax (that would add an additional $54).

If you are a returning LFS customer and have excellent credit, you should qualify for a money factor of 0.00215. I tried to get this but wasn't a returning LFS customer.

Cruiter

In 2003 when I was about 10 months from retirement, I bought one of the last RX300's and financed it. We sold our home in LA and moved to FL where we actually got a steal on a home. I had saved enough, I payed off the RX300 and made a vow to never have car debt again and started that month paying in front (w/o negative interest) for the next car. The money went every month regardless of other commitments into our brokerage money market fund. When I decided to sell it and get the 450h, we actually were able to pay cash and what a good feeling that was. Lots more leverage that way. But it wasn't easy, that kind of discipline takes quite a strong constitution as you see it building up to not use it for something else. It was really a 'release' to finally know it was time and for the right car. Already putting it back now for about 6 years or so into the future.

LexLady75

Cruiter,

I totally agree paying cash is the best leverage! Congrats on purchasing your Lexus with cash!

tromly

Unless you get 0% financing or a 1.9% teaser rate for 36 months, I find paying cash the way to go. Without a substantial tax break for leasing, it's just too expensive

Hal56

under the FWIW perspective:

I have a 450 and borrowed the entire shot taxes included. 1150 a month.

5 yrs of payment. 5.5%

Did not bother me cause in the end 5.5% is cheap money for me cause I can do better with investments.

That aside (might be controversial) , for those that lease you have to buy something in 4 years which means if you buy out lease you have to pay sales tax again and if you buy or lease now you have to pay sales tax again.

Fopr those who keep a car longer than the lease period I really believe it is better to buy.

Jim, we keep our cars in good condition, we are buying nice new tech cars. I probably see no reason to move out of in for more than 5-7 years.

I expect repairs and maint to be minimal--even new tires and some brakes in 4 years will be a heck of a lot cheaper than just the sales tax.
But I guess you have to do your own numbers

Ipswich

Thanks, LL. I would also be a first-time LFS customer, but your money factor is significantly different than mine -- the difference between .00251 and .00295 is 1 percentage point.

Your deal was for 12k/year, and I would be at 15k/year. That obviously changed your residual compared to mine. Perhaps that also changes the money factor. I had understood that the moneyfactor, like the residual, was set by LFS and was not a negotiating point with the dealer. Does anyone think this isn't correct?

On leasing versus buying, I've leased, financed and paid cash. Walking in with a check and no trade-in obviously maximizes the cusomter's leverage.

Personally, I lease because although I'll have perpetual car payments I like to have a new car every few years and keep it within the warranty period. If I kept my cars six plus years, than financing/paying cash would make a lot of sense.

tromly

[QUOTE=Ipswich;4825884]Thanks, LL. I would also be a first-time LFS customer, but your money factor is significantly different than mine -- the difference between .00251 and .00295 is 1 percentage point.

Your deal was for 12k/year, and I would be at 15k/year. That obviously changed your residual compared to mine. Perhaps that also changes the money factor. I had understood that the moneyfactor, like the residual, was set by LFS and was not a negotiating point with the dealer. Does anyone think this isn't correct?

On leasing versus buying, I've leased, financed and paid cash. Walking in with a check and no trade-in obviously maximizes the cusomter's leverage.

Personally, I lease because although I'll have perpetual car payments I like to have a new car every few years and keep it within the warranty period. If I kept my cars six plus years, than financing/paying cash would make a lot of sense. The moneyfactor and the residual is set by Lexus Financial and is not negoiated