My family and I finally decided on 2018 Lexus RX 350 as our next car! Woohoo!
While it’s exciting to get a new car (mmmm that new car smell), it’s our first time leasing a car and I feel nervous and overwhelmed due to lack of knowledge.
We are wondering if we are getting a good deal.
MSRP: 54,663.00
Discount: 4,736.92
Sale Price: 49,926.08
Monthly payment: $555 with $0 down 10K miles per year for 36 months
Total rebates: 1,750
Acquisition fee: 795
Upfront charges: 1725.70
Total cap reduction: 3,520.30
Residual amount 30,064.65
Due on delivery(includes fees, sales tax, and first month payment): 4,051
We put down $500 for now as safety deposit because dealer advised that we should do so in order to show that we are serious buyers.
Dealer highlighted that the vehicle is at the end of the model year and we are getting the BEST deal.
That’s absolutely awful to say the least. You aren’t getting that much of a discount for starters and a down payment is an awful idea. You’re basically at $667 for an RX which is insane. I’d recommend spending some time reading through various topics so you don’t get hosed, or hiring a broker if you view that as too much work
if 2019’s already hitting their lot, bigger dealer discount as previously noted. ask dealer if the their discount includes holdback - 2% of base MSRP for Lexus.
Search for RX deals reported here in the recent months to understand how good (or bad) your deal is. On a quick glance your dealer discount is ok but can be better, aim for at least 12% off if you are in one of the larger markets so your location also matters.
Also consider the 450h since it has higher RV than 350 and saves you money on gas.
Sorry, but if a dealer ever asked me to put down a deposit to show that I’m “serious” is red flag to move on to the next Lexus store in town. I’d understand if it was a limited car or something, but that’s kind of insulting considering you actually took time out of your day to give these guys a shot at your business. But if you’re cool with it, to each their own, I guess.
The link below is to a MSRP of $54,692, so within $30 of what you’re looking at. Since the rebate for lease is $1,750 (according to you) and the purchase incentive is $1,500, a great price based on the cargurus price analysis would be $46,376 - $250 = $46,126.
Just don’t let dealer #2 convince you to put another deposit down. And why go to another dealer anyway? If you know what you are looking for search online for the stock numbers you like at several dealerships and email them for quotes. You are just wasting your time and risking signing a bad deal (and sharing it here for feedback afterwards) by going in person hoping to hit the jackpot somewhere.
I was offered 499 pre tax with only drive offs down on the same MSRP. That’s not an easy deal but many dealers will do 530-550 pre tax. This is with 6 MSDs.
1st mistake. But not too bad, if they dont make a deal, move on to next deal and get it refunded