Lease Numbers on 2010 RX?
03-02-09, 08:27 AM
#16
Yes, the price has changed as you will find out when you discover the money factor of the one time payment you have already decided to hand over without knowing the cost to you. They are losing my attention because they are pricing themselves out of the market. I drove one for a couple of days and as much as I like it, it cannot compete with BMW and Audi when it comes to handling, performance, safety, fit, and finish. That is all fine to me when Lexus isn't trying to price the RX like the Germans. The issues that caused me to lease an RX were dependability, customer service, and pricing. The last two are beginning to slip. The RX we have priced is over $50K. I am not saying I will not end up paying that for a vehicle but if I do it will not be an RX.
Having said all that it comes down to personal opinion. If the RX meets your standards for the price you will probably be happy with it. It is a nice vehicle. It's just not worth the asking price to me. Given a choice between my money or the RX, I will take my money. If they drop the price I will revisit the issue if I haven't already purchased another vehicle.
Having said all that it comes down to personal opinion. If the RX meets your standards for the price you will probably be happy with it. It is a nice vehicle. It's just not worth the asking price to me. Given a choice between my money or the RX, I will take my money. If they drop the price I will revisit the issue if I haven't already purchased another vehicle.
Regarding the one payment lease, the price of the RX450h is far from being released yet. But I imagine it will be about 5K more than the RX350. In any case, I am not too concerned about it since I know my dealer will give me a great deal (been a loyal customer for many years and I have also steered other customers their way). In 3 years we will go through this process again with the new model just as we are now doing with the RX400h.
03-02-09, 12:58 PM
#17
How has the price changed? The difference between a fully loaded 2009 and a 2010 RX is miniscule. Besides, the new generation has so much more to offer over the 2009 model. What is the cost of a comparably equipped BMW or Audi? I don't really know for sure since I have no interest in these models, but I imagine they are at least 5K more than the RX.
Regarding the one payment lease, the price of the RX450h is far from being released yet. But I imagine it will be about 5K more than the RX350. In any case, I am not too concerned about it since I know my dealer will give me a great deal (been a loyal customer for many years and I have also steered other customers their way). In 3 years we will go through this process again with the new model just as we are now doing with the RX400h.
Regarding the one payment lease, the price of the RX450h is far from being released yet. But I imagine it will be about 5K more than the RX350. In any case, I am not too concerned about it since I know my dealer will give me a great deal (been a loyal customer for many years and I have also steered other customers their way). In 3 years we will go through this process again with the new model just as we are now doing with the RX400h.
03-02-09, 01:09 PM
#18
There is got to be something wrong with the fuzzy math. The real test may be, going to an independent agency which leases [credit score, rates would be the same for a customer].
I see a a tremendous difference in the residual value (% wise). I suspect the the residual value on GL550 is inflated to a point where purchasing one will be a bad decision.
Can some one find flaws with my logic?
Salim
I see a a tremendous difference in the residual value (% wise). I suspect the the residual value on GL550 is inflated to a point where purchasing one will be a bad decision.
Can some one find flaws with my logic?
Salim
03-02-09, 01:17 PM
#19
Moderator
If you are being quoted MSRP, you should not be surprised.
Let the waiting line get smaller and smaller and then you can expect discounts/incentives.
If you have had a long term relationship, you may feel entitled to "previous good deals", but why would the dealership loose a short window of higher profit opportunity.
off-topic: The overall economy is bad, but the market has still people who are able/willing to spend money on things they want. The waiting lines are still as long as before for restaurants and shops I visit [it very well could be Murphy's law]
Salim
Let the waiting line get smaller and smaller and then you can expect discounts/incentives.
If you have had a long term relationship, you may feel entitled to "previous good deals", but why would the dealership loose a short window of higher profit opportunity.
off-topic: The overall economy is bad, but the market has still people who are able/willing to spend money on things they want. The waiting lines are still as long as before for restaurants and shops I visit [it very well could be Murphy's law]
Salim
03-02-09, 01:28 PM
#20
Moderator
What this lady is reporting is spot on correct from what I see. I have a friend who leased a BMW 7 Series for $300 per month less than a new LS. The terms of the lease were exactly the same with the 7 Series listing for $12,000 more and providing free service AND he was able to negotiate a new set of tires when needed. I was there for both dealer visit. I saw it with my own eyes.
Salim
03-02-09, 01:53 PM
#21
So is it the residual value? Then how real is it? Based on how well (or not so well) the 7 series hold their value, can I conclude that the BMW7 will be upside down at the end of the lease. Outright buyers will be at loss and the people who leased would be very happy. Who will end up holding the bag, when the bubble bursts?
Salim
Salim
03-02-09, 10:31 PM
#22
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MB and BMW use artificially high residuals and buy down the money factor to ridiculous rates to get those low payments.
It's a good deal for customers, but bad for MB and BMW. I think it was June last year BMW had to drop the residual on the 3-series about 8 points due to taking such heavy losses on lease returns.
It's a good deal for customers, but bad for MB and BMW. I think it was June last year BMW had to drop the residual on the 3-series about 8 points due to taking such heavy losses on lease returns.
03-03-09, 04:32 AM
#23
The MSRP may not appear to have changed much but you have a rude awakening when you see the difference in terms (money factors, discount, etc.). If I am going to pay what I have been quoted I need more from the product. I hope you are able to secure a better deal from your dealer than I was quoted. After 3 cars and 18 referrals I didn't find the discounts that I got in the past. I am sure they are suffering in this economy. If the RX is what you want I wish you more luck than I have had. Good luck!
03-03-09, 06:34 AM
#24
MB and BMW use artificially high residuals and buy down the money factor to ridiculous rates to get those low payments.
It's a good deal for customers, but bad for MB and BMW. I think it was June last year BMW had to drop the residual on the 3-series about 8 points due to taking such heavy losses on lease returns.
It's a good deal for customers, but bad for MB and BMW. I think it was June last year BMW had to drop the residual on the 3-series about 8 points due to taking such heavy losses on lease returns.
On the other hand... if I purchased a 2010 RX450h(MSRP $51,000) and a 2009 MB GL550 today, which one will have better residual value after 4 years and48000 miles? I think both will be a little over the 51%, right?
03-03-09, 07:35 AM
#26
03-03-09, 12:12 PM
#28
Quite agree, I 'built' a new RX on the Lexus web site and then 'built' a Q5 similarly equipped, the delta is at best a couple hundred dollars, with the Q being a bit cheaper. The key will be what kind of mark-down the dealers are willing to take. So far, the Q is leading, but that can be subject to change with availability of more RX's and the initial excitement dying down. I suspect that Lexus will be more than willing to deal given a few more months with the current economy, and when a paucity of buyers begins to take a toll.
03-03-09, 02:51 PM
#29
As much as I love Lexus the new RX cannot compete with the X5, and now not even in cost.
03-03-09, 02:58 PM
#30
I agree and I really hate leaving Lexus. I think my family and I were once their target customers. They seem to have lost their direction with this new RX. They are trying to charge German prices for something that doesn't reflect the fit and finish of the previous RX muchless that of Audi or BMW. I miss the Lexus of yesterday.