I’m in SoCal and have been looking at the 2026 Lexus RZ 350e. I dealer recently offered me $470/ month, $5k due at signing, 7,500 miles, 27-month lease with residual at $28,389. These numbers include taxes already. It is the base model with MSRP around $47,739. Running it through the calculator, it doesn’t score very high, less than 7 years, but this seems to be a pretty good deal considering the Lexus options right now. For example, the nationwide Lexus deal on the RZ, which not all dealers will honor, is $589/ month, 36 months, 10k miles for the same MSRP with $5k due at signing (all without taxes included). Note that I already have an EV, so I do not qualify for the My First EV Rebate. The dealer didn’t send me a cost sheet, just verbally gave me these terms on the phone, so I don’t have all of the info on markdowns. With that said, I’m looking for input on this deal as I have also been considering a Cadillac Optiq, which has better lease deals, but my family likes the Lexus a little bit more.
You are looking at almost $700/mo effective for a $47k car. In other words, you’d be paying almost 40% of MSRP for renting it for just over 2 years.
Yes, that is part of why I am hesitating. The effective payment is $655/ month and I am paying 37% of MSRP. There is a high possibility that we purchase the car at the end of the lease given the low residual value. That is one of my hesitations with the Cadillac Optiq is that the residual value is much higher, and the payments would be significantly higher to purchase at the end of the lease.
Everyone right now is quoting with the $3500 rebate factored in, you would have to add back in the $3500 if you dont have anyone who can sign who qualifies
So maybe just buy it to begin with? Seems like you are paying a huge premium for the option by going with a low residual car just because you may buy it in the end. What is the money factor? If you put all the info in the calculator, how does it compare to a buy with typical credit union interest rates?
How about buying this? Slightly older tech with shorter range and CCS charger (does not matter if you charge at home) but a MUCH nicer and more powerful car with lots of options that this 350e does not have.
No, they asked and I told them that I already have an EV before quoting, so the discount should not be included.
Thanks for the additional option! The range is an important factor for road trips that we take regularly that are about 400 miles each way. This is the main reason why I am not looking into the 450e series.
How often is “regularly”? And destination also matters in terms of charger availability going to/from.
lol, i was thinking the same thing as i was typing it
To be fair (to yourself???), leasing a Lexus often doesn’t make much sense, financially.
My total lease cost is $17,690. With the residual value of $28,389 plus taxes, fees, etc to purchase on 60-month financing at 5.5% is $35,708 (includes the interest, taxes and fees), resulting in a total cost of $53,400+/-. If I purchase now, it seems like I don’t get the same discounts upfront. On a purchase with a 72-month finance at 3% right now, the total car cost is $53,030. As such, I’d be paying an additional $400 total over the life of financing which in the lease then purchase scenario is an additional 15 months. Based on the lease deal, and the ability to purchase after at a lower value, I’ve seen this as a pretty good deal. If I can negotiate further to get the same discounts for a purchase, then that is a different story.
And that’s a good way to look at it. It just seems like Lexus lease deals are not typically “good”. That’s why when I have been offered something that appears to be better than average for a Lexus, and it is a car that I like, I had to get others input. Thank you.
what is the actual discount off MSRP here?
IIRC (and I often do not), I think some of the more math-/technically-oriented folks here said that, for a Lexus (or any car that typically doesn’t lease well) w/ lease-specific rebates, consider doing a one-pay with an immediate buyout?
I’ll have to look into that option, thank you!
Yes, the route has fast charger options, and I have mapped it out. The range of the 350e vs 450e means stopping once for fast charging during the trip versus twice; otherwise, I may be sweating out the last miles of the trip, lol.
Understood! Again, my question to you is how many times will it happen over the next 2-3 years? Do you have another car to take on this trip? How about Turo or rental? Hope you realize that the 350e is not worth anywhere near that price. You can rent just about any exotic for those trips given the savings compared to buying a used 450e (and you’d have a much more enjoyable car daily).
Small lifehack: try to schedule your service the day before the trip and get a loaner.
The trip occurs 4-6 times a year. Honestly, it doesn’t make sense financially to me to get a car that doesn’t comfortably make the trip and then need to get a rental car. I just had a rental car in my area due to previous car trouble (which is why I’m in the market for a car) and the rental for a week was over $250 for a gas Ford Escape. Turo was more expensive than the Enterprise rental for anything decent. I’d rather not pay the $200 roundtrip price in gas alone plus rental fee for a trip… But I appreciate the advise and will consider other options.