I've never leased before but I am considering it. It looks like when leasing is available that you can only get a baseline model. Is this generally the case?

 

No, you can choose the model / trim you want when leasing just as you would if you were financing or buying the RX outright.

 

You can get whatever build you want for a lease, but the payments will be much higher than those advertised on commercials. The cars advertised are usually base or equipped with very few features and dealers tend to only have one.

 

And.............the low lease rates only allow 10k miles/year (or even less with some dealers) and require large down payments. Look at TOTAL cost over the life of the lease, including up front fees, such as acquisition fee and end-of-lease fees too!

 

What are the end of lease fees? Are you referring to going over the mileage cap? Or are there other fees?

I know that leasing will cost more than just buying but I might have some bills coming up that will take away from my disposable monthly income for a couple years. I was thinking that a lease could help make the monthly more affordable. I am definitely aware of the upfront payment.

 

I would negotiate the price of the vehicle before discussing financing. They will then plug that negotiated number (Capitalized Cost) into the calculation. The residual is not negotiable and the money factor will be based predominately on your credit score. Also, I would first ask them to plug in zero down payment (you may have to put a deposit down) in the calculation and see what you come up with. You do need to consider your expected mileage over the term of the lease.

 

Just beware of a lease allowing less mileage than what you drive. If you drive 15K miles a year do not,get a 10K lease or there will be a rather large mileage fee after two or three years. Leasing can make sense for some so check it out.

Like another said if you qualified for purchasing they will lease to you. You can change your mind right up to signing the documents, just make sure you know what all the conditions for the lease are.

 

Besides a charge for going over the allowed miles, there will be a disposition fee at the end of the lease for approx $350. However, this fee is usually waived if you get into another Lexus.

There would also be charges for excessive wear and tear depending on the condition you return the vehicle. If you return the vehicle with very little damage usually the leasing company is fair. However, if you return it with a lot of scratches and a lot of body damage, or tears on the interior you're going to be charged. Some leases carry damage waivers up to $1,500, but you will need to check with the finance person to see if your lease has it.

Once again depending on the amount of damage at lease end most of the time the dealer will waive the charges if you're purchasing another Lexus.

When reviewing any advertised lease deals make sure you read the fine print which will give you the MSRP that particular deal is based on. As others have said, most of the time the low price "deals" are based on 10K or less miles and vehicles with few options.

Good Luck.

 

What if I bring the car back in pristine condition, with much less mileage than I originally agreed to. Do they give me money back?

I didn't think so.

If a dealer tried to pull that crap about charging me for a little ding/scratch here or there, they can get pumped.

 

I agree.. But some dealers / leasing companies do try to pull this crap on some people and sadly get away with it. Especially if you're not buying another of the same brand. If you're staying with the brand it's never a problem.

 

If your car has much less miles than agreed, you can try selling it to CarMax if the price they offer is more than your residual. Dealers sometimes give you money back; my uncle returns his leased BMWs with much less miles than agreed (like 10-15K miles less) and the dealer actually gives him money back.

 

Most advertised leases are base models in all brands.
Many brands will not have the same incentives on more expensive trims.
I just experienced that in looking into an Audi lease.

 

But yeah, to answer the OP, the prices listed on the commercials are for the base model. If you pause the commercial and read the tiny print at the bottom, most of the time they list the MSRP that it applies to.

 

I leased a GS from lexus financial and had a great experience. At the end of the lease, lexus financial sent a 3rd party inspection company, to check on the car for tear and wear. The inspector said the car was like brand new lol and didn't charge me for a dime. However, i paid $350 + tax end of lease fee. I tried to get it waive since I was waiting for the 16 rx. but they said they can only waive it if i get another lexus within 30days after returning the car. It was a 27months lease with 27k miles, when i negotiated the deal i made the dealer included the 20k oil change. 10k oil change was free. Returned the car just under 25k miles and avoided the 25k service. So i didn't pay anything for the maintenance

 

You can if the value of the vehicle is more than the lease buyout. I was able to do it with my Tacoma lease. I was well under the miles allotment and the truck was in excellent condition, which helped raise the value. The blue book value of the Tacoma was about $23k, but my lease buyout was $18k. The dealer gave me that $5k by treating it like a trade (rather than a lease return), which you are free to do.