Valueguy

Does anyone know what Lexus Financial charges for a Tier 1 plus customer to prepurchase an additional 5,000 miles on a 2010 RX 350? I want to lease for 3 years/45,000 miles but would like to prepay for an additional 5,000 miles.

Local dealer isn't honest or open about this cost.

rominl

iTrader: (4)

for lexus lease, i believe it's 25 cents a mile. i am tier 1 plus

jeffmust

25 cents/mile additional seems high if done up front like you intend. If the prepay is the same as the postpay - why do it and tie-up your funds for years? Especially on miles you might never use for one reason or another. Anyway, I would think the prepay would be closer to 15 cents than 25. You might try calling Lexus Financial Services directly. Good luck.

rominl

iTrader: (4)

oppps, my bad. sorry i read it wrong and missed the pre-paid part. i don't know for sure what the pre-paid amount would be. is that something we can find out from LFS?

Valueguy

Well, the dealers lie. FYI, this is very important information for everyone who leases a Lexus. For example, did you know Acura charges DOUBLE the cost per extra mile if purchased at lease end compared to up front? Acura only charges ten cents a mile for PREPAYMENT of extra lease miles.

Infiniti also gives you a big discount. 12 cents a mile if paid up front. My local stealer, a dishonest dealership, originally quoted me 25 cents a mile then dropped it to 20 cents after I argued with him. In fact, I bet the cost is far less than that amount and in the Acura/Infiniti range. Does anyone know a reliable contact that can find out?

Thanks

rominl

iTrader: (4)

lfs is the financial institute that carries all the official paperwork for lease, it's not dealerships though. that's why i ask if asking them is the right way. i wouldn't even bother with dealerships

Valueguy

When it comes to Lexus and their cars I defer to you, But, here you could use some refreshing. Dealerships can and do "overcharge" their customers on lease miles paid up front and money factor. They can "keep the difference" most of the time. That is why my local stealer wanted 25 cents per mile then quickly dropped to 20 cents. Do you really believe Lexus charges more than BMW for extra up front lease miles? Or, that Lexus charges 100 percent more than Acura for extra lease mileage paid up front? I live in Florida so I am not buying any swamp land either.

rominl

iTrader: (4)

nono, i am sorry if i confused people more. when i said 25 cents, it's NOT pre-paid overmileage. it's the penalty if you are over mileage when you return the car. that's why i apologized saying the info isn't correct.

Joeb427

iTrader: (1)

BMW has some set up where you can buy extra miles during the lease.

jeffmust

If you can't get the answer from Lexus Financial, ask a dealer's sales rep the difference in lease cost per month for a RX350's 48-month lease with 12k miles a year vs. 15k miles a year. Divide the monthly difference in cost by 250 (additional miles per month) and that will give you the LFS charge for higher miles. Should be the same for buying the additional miles you want. Do note however - I've never heard of anybody prepaying for such miles beyond a captive lease company's structured plans - i.e., 10k/12k/15k miles per year.

stw2046

20 cents/mile prepaid and 25cent/mile if goes over

Valueguy

I typically drive more than 15,000 miles per year. Does that mean I shouldn't lease?
Not at all. Once your lease begins, you cannot change your mileage allowance. However, we have special lease programs that allow you to buy "up-front" mileage less expensively than you would pay at the conclusion of the lease. Plus, the cost of excess mileage is conveniently included in your monthly payment. If you do not use all the miles you purchase, no refund is made.

jeffmust

Call another dealer's sales manager and/or finance department since you believe the one you have been dealing with is not being honest.

Ask them about any LFS program for adding prepaid miles to the 15k/year that is standard. Or contact LFS directly and ask them. Should take 30 minutes for both phone calls.

I guess I'm confused as to why this is complex...as for whether or not you should lease with above-average miles per year...your call. I've purchased my leased cars over the years so it wasn't a factor.

Valueguy

Well, I called another dealer. It turns out Lexus doesn't really like to sell additional miles like Acura or Infiniti. Instead, Lexus wants you to get the appropriate lease term and it turns out they offer a 3 year/18,000 miles per year lease.
If you do it this way it works out to 11-12 cents per additional mile and NOT 20 cents. The first dealer didn't disclose this very important piece of information to me. So, if you want to lease a Lexus remember they offer 10/12/15/18,000 miles per year options and it is best you pick one of those. Purchasing additional mileage is not a good value with Lexus.

jeffmust

"Acura only charges ten cents a mile for prepayment of extra lease miles."
"Infiniti also gives you a big discount. 12 cents a mile if paid up front."

So - when you finally find out, after an exhaustive search of calling one (1) more dealer -that Lexus wants "11-12 cents" per additional miles up front -and that's "not a good value with Lexus."

Uh...ok.

Looks like Acura or Infiniti has a sure deal for your garage's next vehicle; let us know if you go with the MDX or one of the Infinitis.

Good luck.