I’m sharing recent deals for 2 cars my family recently leased. This is our first time leasing so I welcome any criticisms and suggestions for improvements on future deals. I learned by reading these forums and thank everyone who has posted information here before.
First car: 2018 Lexus RX 350
MSRP: $50,814
Selling Price: $45,224 (11% off)
Monthly Payment: $482/mo excl tax; $514/mo incl tax
Total Drive-off costs: $514 incl tax (basically we had no costs at signing except the 1st month payment)
Down Payment: $0 down
MSD: $0
Acquisition fee: $795 (this was added to the capitalized cost; not paid up front)
Incentives:$1,000 ($565 of this was applied to taxes/doc/registration to eliminate drive-off costs except the first month payment; the remainder of the incentive is already reflected in the number I quoted as the selling price above)
Months: 36 months
Annual Mileage: 10k miles
MF: 0.0003 (0.72%)
Residual: 58%
Location: FL
Leasehackr Score: 8.6
Second car: 2018 Lexus RX-L
MSRP: $53,298
Selling Price: $47,583 (11% off)
Monthly Payment: $509/mo excl tax; $542/mo incl tax
Total Drive-off costs: $542 incl tax (no costs at signing except the 1st month payment)
Down Payment: $0 down
MSD: $0
Acquisition fee: $795 (this was added to the capitalized cost; not paid up front)
Incentives:$1,000 ($592 of this was applied to taxes/doc/registration to eliminate drive-off costs except the first month payment; the remainder of the incentive is already reflected in the number I quoted as the selling price above)
Months: 36 months
Annual Mileage: 10k miles
MF: 0.0003 (0.72%)
Residual: 58%
Location: FL
Leasehackr Score: 8.6
This seems like a very good deal on the '18 RX350. I’m shopping for the same car right now in FL, and was looking at one with the identical MSRP, 36mo/10k miles per year, and with $0 down, was quoted at $582 (including tax). With $1000 out of pocket, that would go down to $553, so still more than yours.
Another dealer came in with an even better deal, but seems like they are being shady on “taxes and fees”. Saying “fees can vary from $1800 to $2300” which will cover the inceptions, and said “taxes on the residual value” are included in those fees. When I mentioned I thought there were only taxes on the lease monthly payments, the response was “the monthly payment has taxes, and also the leased amount has taxes” which are included in the total out of pocket.
Does anyone know if that seems legit? Seems like you would be double taxed.
Hi. Do you mind asking where you got this deal? I live in So. Cal. I am looking to lease a RX 350 too. What did your RX come with, and what did they add on as opptions>
I had a local broker offer a RX350L @ $500/mo including tax w/ $2000 due at signing. I wasn’t interested in the car, but touched on a few different cars, talking in general about SUVs and rates, and this was one of them.
Not sure what the MSRP was. But they’re in the Los Angeles area, so probably 9.5% tax rate. If interested, I can PM their info and you can poke around.
When you use a broker it’s common courtesy to not give the brokers contact information and not the dealers. Otherwise the broker is screwed out of a deal.
