2020 LEXUS RX350 lease - deal? Sign it? HELP!

Ask the Hackrs
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1

Hey folks.

I’m not as lease savvy as many of you. Need advise.

Lease terms:
2020 Lexus RX350 base model, no bells & whistles
MSRP: $47945
Dealer Discounts and rebate: $7,435
Vehicle Price net after rebate: $40,510
Residual: $26,369
*(I THINK RV IS 55%
MF: 0.00060 (i think)
Miles 12k/year
Lease length: 36 months
Down Payment $2,000
Monthly Payment: $520

Was initially $526/month with $2k down. I dont think theyll charge disposition fee since Im a return customer. From my understanding. everything is included in the $520/month ie tax/registration. so $2K down is basically the only expense.

Note: I am a return customer. Current 2017 RX350 base model was $503 a month with $3k down. 12kmile/36mo/$26kresidual

The guy insisted this is far as they can go. I dont understand MF or the leasehackr calculator much :frowning: Whats your advice?

2

My advice is understand how lease works.
Short answer is this deal is bad but you have no tools to fight back since you don’t understand lease.

Hiring a broker would be the best middle ground in your case.

1 Like
3

MF - money factor, is a method for determining the financing charges on a lease with monthly payments.

MF can be translated into the more common annual percentage rate (APR) by multiplying the money factor by 2,400

4

What are some key differences between the 2017 and 2020 model

5

Yikes :frowning: how do I get ahold of a broker in norcal thats reputable?

6

ah. they mentioned something it went up to 0.0006 (making this up) something like that. Still rather confusing.

7

facelift, carplay, screen is touchscreen now…thats it pretty much.

8

Try @nyclife or @Benedetto, maybe they can help. Or go to the Marketplace and select California. Start browsing in this forum.

9

What would the ideal good deal look like for this car? just wondering!

10

In socal, broker helped me get…

Miles 10k/year
Lease length: 36 months
Down Payment $4,625 ($2k down, $2,625 MSDs)
Monthly Payment: $374

2 Likes
11

What was the MSRP? When did you do the deal?

12

MSRP ~$47k
Signed at the end of Jan.

13

can someone please help with numbers that look better for the mileage and downpayment im doing? I dont think I can get a broker in time

14

Have you gone to edmunds yet to determine what the actual MF/RV and incentives are?

15

waiting on that but dealer is publicly offering 2k lexus cash. and told me theres 1,000 loyalty cash

16

Dealerships are known to hide things and we need to know what the MF/RV is case they are marking it up.

17

Do you have a deadline of some sort (you said “in time”)? … is the dealer rushing you or you need a vehicle right now?

The best way to get into a bad deal is as follows: (1) no time (2) no knowledge (3) no patience (4) no flexibility on make/model (5) no flexibility on options.

Lease numbers change every month and normally gets better towards the end of the month so while you can’t really time it perfectly, if you don’t know how the numbers work and you are in a rush, then you should just be resigned to the fact that you will get screwed over by the dealer because they can do this all day and have all the time in the world. A broker will help you do the negotiations ($ for time) but if you want to do the negotiations yourself – you will need to learn how all the stuff works … specially as you step into the finance office where all the magic happens (magic for the dealer)

18

I’ve been researching some leases for RX350, and the market for buyers is quite bad right now because of COVID.

19

edmunds said .00060 and 55%
$1000 lease cash which is what the dealership said

20

fair points. deadline bc my lease is almost up. I dont want to turn in the car and have to pay $350 disposition fee :confused: It is waived if you pick up a new lexus lease. I just wish someone could give me numbers that look more fair ie monthly, down payment. i see most folks opt for 10k with these nice deals, I need 12k. but if numbers drastically change due to 10 to 12k i may reconsider.