What do you think of my first lease? 17 RX 350 $470- 7500 miles per year x 36 months

2017, Lexus, RX 350 -loaded, non-Fsport

MSRP: [$58,619]
Selling Price: [$53,177]
Rebates: [$2,750]
Trade-in: [$0]

Months: [36]
Annual Mileage: [7,5000]

MF: [optional]
Residual: [35,171.40]

MD -Security Deposit: [$4.050.00]
Total Due At Signing: [$2,500]
Monthly Payment (incl. tax): [$468]
***** **includes Excess wear & tear ($500) +
Vehicle appearance protection ($595)

Zip Code: [92007]]
Sales Tax Rate:[ 7.75%]

Leasehackr Score: [ ]

Used Multiple security deposits to get MF close to zero.
Would not have bought the Vehicle protection package but the color I wanted (only one in stock) already had it applied; added $18.34 per month (no wax needed).
I work at home so drive low miles. Wondered whether to get excess wear and tear. My wife has a Sienna lease and already scraped both sides—damages will be in excess of $500 cost of excess wear and tear plan. Without both of these dealer add-ons, my lease payment would have been $430 including tax with $2500 down and $4000 in MD.

This is for the “Luxury” package RX350 that is fully loaded except for tow hitch and, of course, the F-Sport package.

Assume your first months payment is part of the $2500 down? That’s an additional $56 on your monthly lease of $468 bringing it to $524. That’s also good lease cash for your area. That seems like a solid deal based upon original the MSRP plus the add ons.

Hi Benz, no, my first month lease was not part of the $2500 “down”–which is really the “capitalized cost reduction”. My first month was in addition. Then, the refundable security deposit (MD) of $4,050. Added, to it was license of $451.99; tax on cap reduction $201.39; acquisition fee of $795.00, doc prep fe of $8-, DMV filing fee of $29, CA tire fee $8.75, taxes $67.81. Total was $9250 less rebates of 2,750. I actually paid $6500 but $4000 is the refundable security deposit.

I wanted to post a picture of my lease agreement but did not know how to post it.

This is my first post.

Wish I knew about this site before I signed my lease.

Looks like your actual payment would be closer to $538 then plus 1st months payment. I walk away from vehicles with extra ads on like paint sealant, door edge guards, mud guards, running boards, protection package etc, unless I really wanted them as add ons to begin with. This forum is extremely helpful. Just have to find the dealer who will cooperate and make the deal, we as buyers, know is possible to make. Enjoy your vehicle.

I asked this question yesterday when I saw a BMW 3-Series going for $60K, and I will ask it today as well…

When the hell did a RX350 hit $60K territory? Less than 10 years ago you could get one of these for $40K nicely equipped. These prices have gone completely insane.

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Lexus has “grown” the RX and then slotted in the NX at close to the size of the original RX. The NX is roughly prices in the 40s. I think another big factor is that RX is a huge seller for Lexus so they are milking every dollar.

If Lexus/BMW can sell them for $60K, all the power to them. I think it’s insane that anyone would pay that much for what was a mid-$30K entry level luxury car 5-7 years ago.

Benz55, thanks for your reply. In calculating the “actual payment” of $538, did you factor in the cap reduction of $2500? I could have done zero down and it would have been close to that figure. I agree with you about the preference to avoid “add ons”. I value your expertise and will be reading this forum on a regular basis to draw from the collective wisdom of you and the experienced lesees in getting a better deal in 3 years. I have changed my philosophy of buying a low mileage and 2 or 3 year old car then holding onto it for 6+ years to leasing every 3 years as the technology is advancing so rapidly (just like computers and smart phones). Also, it is nice to always be covered by the factory warranty and even have some complimentary routine maintenance.

You can say that for many luxury cars now compared to 10 years ago. 10 years ago, would you have imagined the E-class would cost an average of $60k and comes with just a 4 cylinder? The X5 started at $46k 10 years ago. Today, it starts at $57k.

Boomba-yes, prices have gone up. However, to be fair, this one was fully loaded. I opted for the “luxury package” and really went all out. About to turn 55 and decided to treat myself. Really wanted the Mark Levinson sound upgrade. I am an audiophile and while it is not as good as the Bowers & Wilkens upgrade in the Volvo XC90, it is very good-especially when you make adjustments in the Sound settings.

On the other hand, if you want to be economical, currently, you can get a base model for 12-15% off the MSRP of $45k. Dealers are very motivated to get these off the lot before the 2018s arrive in about one month.

Better not check the price of housing, you will have an aneurysm :slight_smile: Compared with 10 years ago, the prices of cars is a bargain relative to the increase in house prices…

looks like they put my lawnmower engine in the E300

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Ha–especially here on the coast in San Diego/Orange County/LA! If I did not buy 20 years ago, I could never afford it now.

In 2010 the eclass base msrp was $48K. Today it’s $52K. Adjusted for inflation it’s cheaper today.

The new RX is a great car - love the interior especially. Leasing one currently. I probably got ripped off because I just recently found this forum.

I agree that the 2017 is an awesome car. I had a 2007 RX 400H and just sold it with 72500 miles. Everything about the RX350 is an upgrade. Of course, the infotainment system still is not on par with the latest generation of Audi (on Q5, Q7) but it is sufficient. I would like it if Lexus adds a Wi-Fi hotspot, adds Google Maps, makes a large (12.5) virtual dash screen --like the Audi) and other tech features.

If you don’t mind, what is your current monthly payment and what did you have to put down (cap reduction + other fees)?

Do you prefer the luxury package over the F-Sport? The F-Sport has higher RV and will probably come out cheaper. I got my 2017 F-Sport with MSRP of $59k for $499/month including tax and my total drive off was $4721 ($4500 MSD and $221 CCR with everything else rolled in). This is with 12k/miles as well.

Another user recently got an AWD F-Sport with MSRP around $62k and even lower monthly payments than me.

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Hi, considered F Sport—mostly paying for appearance (more aggressive); only functional difference that I saw was extra suspension settings (e.g. Sports+ and some others). I did not want the F Sport seat —preferred the extra settings of the driver side seat on the Luxury package–such as ability to extend the front of the seat for more thigh support. Key was that the F Sport did not have the color I preferred: Noble Brown leather.

You got a smoking deal on your lease with higher mileage allowance.

Which dealer did you buy your F-Sport from?

You are obviously well-versed in leasing because you were able to get such a great deal. Congratulations on your ride. What were you leasing before you picked up this Lexus?

It’s a good start because of the lowered sales price. Lets go from there. Pricing only gets better as we enter November territory. History repeats itself.

Yes, to get the best lease deal and you are willing to take whatever is left in inventory. 10-15% off MSRP right now with great selection of vehicles is not bad.