LJK

How do I properly value an "executive driven" 2016 RX350 for lease ? I'm being quoted $1000.00 below "MSRP" of the car but it has 3,500 miles on it. What should the selling price be that I should aim for in a lease? Anyone have any advice or experience with this type of lease? Thanks

dchar

It should be more like (at minimum) $1000 below invoice. They are crazy for only offering $1000 off MSRP since most people get that on a new one.

LJK

MSRP is roughly $52,000 and invoice $47,100. MF is .00160

RXOwner

Lexus will not greatly discount this vehicle. They will have no trouble selling it.

LJK

So do you think 5,000 under invoice is unreasonable to ask for? 3500 miles is a very used car an nowhere near "new" in my opinion.

RXOwner

I would think 5k would b good but I am not sure that Lexus will go for it. Too much demand right now, but it is worth a try.

coolsaber

What an "executive Driven" vehicle anyways? Unless this executive was a grandma who babied this vehicle for each and every 3500 miles, its a plain ole used demo car. Abused and crapped on by someone somewhere.

By your signature you are in Florida, which according to the pricing thread, is a amazing place to purchase an RX at invoice. The reason I mention this, is if this dealer is playing "too high demand" then so be it. Find a dealer, whose one of those from the thread, and a get a brand spankin new lease. Don`t waste your time trying to convince their bloated pricing structure, you would be wasting your time.

$5k below invoice is a dream at this dealership as their livin in some fantasy if most dealers are selling at 94% of MSRP at the max end.

Its probably also going to be clocked in for the factory warranty (so whenever the original in service date is, all factory incentives/trunk money is locked in aka no new incentive packages apply and also the warranty has also started)

RXOwner

Do you practice being so negative or does it come natural?

kitlz

Not necessarily negative, it's more like playing devil's advocate. Please keep personal remarks out of the discussion.

coolsaber

I`m a strong believer in straight talk. If its harsh too bad i guess? This is based on the factors I listed above. The comments regarding the condition of a vehicle are correct imo. Too many times have I seen take legit abused demos/loaners and market them as "executive demos". Then try to play a naive customer how this is a "like-new" vehicle in regards to pricing. If I brought in a car with 3500 miles, the dealership could care less on their appraisal that way I drove or who drove the vehicle. They would only consider how I treated the car (even the most minute scratches etc), and would of course take into account depreciation.

If that dealer wants to play games so be it, but I personally would leave, let the market teach the dealer that $1000 off MSRP on an essentially used vehicle is plain silly (then again as they say in the dealership business, theres always a butt for every seat) on the lot when other dealers are offering invoice. You`d save more time using this approach then trying to go back and fourth for 20% off sticker on that dealer.

Hey if theres some reason, the OP wants this specific vehicle, I understand, but the primary motivation seems like a price based. If my assumption is correct then walk away and save some money ala time

LJK

Thank you for the replies. I agree it is used an I don't care if the maintenance guy drove it for 3500 miles. I was just wondering with this being a popular model whats a realistic price to shoot for on the lease. I know its used so I was wondering to what degree that effects the price on a product this popular. Is 5k under invoice a reasonable estimate for what this car would be worth used in the current sales climate ? Thanks so much for your time everyone!

RXOwner

If you would be happy with $5K off, that is what I would offer. No harm in trying, you will never know until you try!

Good Luck, let us know what happens.

jtrue28

Warranty starts on day of delivery. It likely has never been registered/tagged, so it's still "new".

RXOwner

I do not think Lexus is selling this as new so the mileage would count against the warranty. That is part of the reason to ask for decreased value.

dguitarnut

If it's considered a certified car then the warranty bumps to 100k and 6 years.