KOPGLOVE

Just Leased a 2012 RX w/ navigation, parking assist and wanted to know what others are paying for monthly rental fees.

36 months
12k a year
$1m down

I had a 36 month lease and traded after 24 months and paying about the same plus or minus $30.00

timecut

$1M down payment is too much

py0413

$1M? 1 million?

GoHuskers

I believe he meant $1000 since M in Roman numerals is 1000.

What are you paying monthly? because +/- $30/mo means nothing to us. It is good deal if your old payment is $450/mo and new one is $480/mo (or $420/mo) but it would be bad if your old payment is $900/mo and new one is $870/mo you see what I meant?

aznxenon

That makes no sense tho.

If he used "12k a year" to represent the thousand, why wouldn't he use "$1k down" instead? Unless it's a typo since k and m are next to each other on the keyboard

GoHuskers

Both K and M represent 1000. Your guess makes sense too because no one put a $1 millions down for a $50k vehicle.

markrivers

@ Kopglove so this RX is a lease.. so why worry about putting an 87 octane ( which is the recommended).
You were asking in the other thread if anyone else puts premium on a 2012.

anyway,i agree with the others, plus or minus 30 is vague.
especially if we don't know the original monthly payment that you have.

$30/month more covers an additional feature.. like navigation.

with your $1,000 down ( part of it goes to the 1st month payment) i believe you're paying a more expensive lease compared to the rest.. unless of course you traded another vehicle. ( a vehicle that you OWN, not coming out from a lease)

so many variables here to even answer your question intelligently.

KOPGLOVE

Many of you have good points. Thank you very much. Yes I did mean M for a thousand, and K also for a thousand. I now know that my negotiation skills are bad, or better yet, I don't have the art. It all started at Lexus, coming out of a Toyota 4 runner lease early (17 months) from 36 months. I lease a 2008 RX350 @ $ 520 mon. then upgrade to 2010 @ $ 600, and now 2012, @ $629. I've been cornholed. Excuse me if i offended anyone. I feel betrayed and heavily taken advantage of. To top it off I'm a Tier 1 customer with a 780 credit score this is abuse!!! I save peoples lives for a living. Everyday my foot hits that ground for work I'm at risk. Shame on me! for not knowing better. I did hear not to trust car salesmen. I'm open for any suggestions.

all mentioned were full loaded premium pkg. W/ navigation.

Marqevans

I did the exact same thing except I was 28 months in to my 2010 lease when I traded for a 2012 dropped from a15000 to a12000, added NAV comfort package, parking assist, 12 speakers and dropped remote start. Only put down first payment, rolled 9 percent sales tax into the lease as before, did the fully refundable lease deposit with Lexus as before, and am paying $10 more a month than before. Hopefully that's enough variables.

KOPGLOVE

Wow I also dropped or relized later that I no longer had a remote starter.

Marqevans

Not to get off topic but I would trade parking assist for remote start in a heart beat even though when I had remote start I seldom used it.

UCSB

Don't be so hard on yourself!!! You have described a complex set of financial transactions. No one here can evaluate your payment. It may be FAIR ... but, since you did not fully understand what was happening it may not have been the best of deals. When you rolled each of these leases, they just took what you owed on the prior lease and rolled it into your new lease. Therefore, after doing this a number of times you are carrying the cost of getting out of several leases early in your current payment. This means that you are going to be paying more for your lease than someone that is going down and getting a new lease. But, you have had the benefit of driving a number of new cars for a short period of time and then getting a new car. If I am following your story, you have been in four new cars in the past six model years. That is going to be expensive. I am a little surprised that the payment is not more. Anyway, say that you are paying an extra $150 a month for decisions. This seems reasonable to me on the surface. That would be about $5,400 more over the term of your lease. I don't think that anyone abused you because this seems like a number you would expect from these transactions. At any rate, you are not a victim here; which very well may have been fair and reasonable.

My daughter is a leasing specialist and we spend a lot of time talking about the nuances in leases. We have run the numbers on a lot of cars over the years. FWIW, we both purchased our cars.

Suggestion: I would recommend that you stay in your current lease until it ends. You need to break this cycle. At that time learn to do a lease versus buy analysis of any new car. This will give you a better idea of what the actual cost of the lease is relative to a purchase. These national lease deals on closeouts at Lexus are typically not abusive. I really doubt the difference between the best negotiated deal and what is offered thru the advertised specials is more than $50 a month. Hardly an amount to get upset about with yourself or your dealer about. Until you understand all of those lease rollovers, you will not know which dealer or deal along the way was good or bad. So it is unproductive to have a negative attitude on your current deal.

Here in Northern CA, Lexus is offering $419 / mo with $3,300 down (with 1st month payment wavied on 36 month,12k/yr). So with $1k down (your deal), this may have been close to $500 / mo. Your $629, looks good relative to this offer. Enjoy your car and relax.

KOPGLOVE

Thank you. I will admit I did over react. I must say, I do get the new car itch between 2-3 years. This explaination was what I was looking for. Originally I thought that with my wanting to change every couple before end of term I did ok. I feel much more comfortable with these transactions.
Thanks again

Marqevans

I think you are missing a piece here. The dealer is paying off the lease and buying the car from Lexus at a price that allows them to make money on their used car lot. The resale is pretty high. I am in my 7th RX lease and am paying less than I did on the first one in 1998. every transaction was nothing down and the sales tax rolled into the lease.

svofan1

UCSB, you are right on the money and your explanation is one of the best I have seen when it comes to leases....your and your daughter knowledge is evident that both of you know your besiness.....to most of us buying or leasin public the finer points on these transaction is often missed.
I bought my SUVs for many years and in 2006 decide to lease a Toyota Sienna Limited...well the payments were "dandy" and we were ALL very happy but one day (nothing to do ) I started to do numbers and basically found out that the interest rate on the lease was something like 7% (if I recall correctly), well that one was my last lease, I know I also gave up having the "pleasure" of a new car evry 3 years (incidentally my total mileage on th eToyota after 3 years a whapping,,,14k miles...
Today I own a 2012 RX350 recently purchased,,,thank you very much...