Are all leases just baseline models?
Lexus Test Driver
Joined: Oct 2014
Posts: 1,266
Likes: 48
From: NY / LI
No, you can choose the model / trim you want when leasing just as you would if you were financing or buying the RX outright.
Lexus Champion
Joined: Feb 2013
Posts: 2,954
Likes: 235
From: SoCal
You can get whatever build you want for a lease, but the payments will be much higher than those advertised on commercials. The cars advertised are usually base or equipped with very few features and dealers tend to only have one.
Driver School Candidate
Joined: Nov 2009
Posts: 46
Likes: 1
From: FL
And.............the low lease rates only allow 10k miles/year (or even less with some dealers) and require large down payments. Look at TOTAL cost over the life of the lease, including up front fees, such as acquisition fee and end-of-lease fees too!
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Pit Crew
Joined: Dec 2010
Posts: 226
Likes: 6
I know that leasing will cost more than just buying but I might have some bills coming up that will take away from my disposable monthly income for a couple years. I was thinking that a lease could help make the monthly more affordable. I am definitely aware of the upfront payment.
Instructor
Joined: Jan 2013
Posts: 1,059
Likes: 68
From: TN
I would negotiate the price of the vehicle before discussing financing. They will then plug that negotiated number (Capitalized Cost) into the calculation. The residual is not negotiable and the money factor will be based predominately on your credit score. Also, I would first ask them to plug in zero down payment (you may have to put a deposit down) in the calculation and see what you come up with. You do need to consider your expected mileage over the term of the lease.
Lead Lap
Joined: Nov 2015
Posts: 701
Likes: 49
From: AMERICA!
Just beware of a lease allowing less mileage than what you drive. If you drive 15K miles a year do not,get a 10K lease or there will be a rather large mileage fee after two or three years. Leasing can make sense for some so check it out.
Like another said if you qualified for purchasing they will lease to you. You can change your mind right up to signing the documents, just make sure you know what all the conditions for the lease are.
Like another said if you qualified for purchasing they will lease to you. You can change your mind right up to signing the documents, just make sure you know what all the conditions for the lease are.
Last edited by RXOwner; Dec 17, 2015 at 04:44 AM.
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Lexus Test Driver
Joined: Oct 2014
Posts: 1,266
Likes: 48
From: NY / LI
What are the end of lease fees? Are you referring to going over the mileage cap? Or are there other fees?
I know that leasing will cost more than just buying but I might have some bills coming up that will take away from my disposable monthly income for a couple years. I was thinking that a lease could help make the monthly more affordable. I am definitely aware of the upfront payment.
I know that leasing will cost more than just buying but I might have some bills coming up that will take away from my disposable monthly income for a couple years. I was thinking that a lease could help make the monthly more affordable. I am definitely aware of the upfront payment.
There would also be charges for excessive wear and tear depending on the condition you return the vehicle. If you return the vehicle with very little damage usually the leasing company is fair. However, if you return it with a lot of scratches and a lot of body damage, or tears on the interior you're going to be charged. Some leases carry damage waivers up to $1,500, but you will need to check with the finance person to see if your lease has it.
Once again depending on the amount of damage at lease end most of the time the dealer will waive the charges if you're purchasing another Lexus.
When reviewing any advertised lease deals make sure you read the fine print which will give you the MSRP that particular deal is based on. As others have said, most of the time the low price "deals" are based on 10K or less miles and vehicles with few options.
Good Luck.
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Lead Lap
Joined: Sep 2008
Posts: 3,705
Likes: 234
From: #BBNine
What if I bring the car back in pristine condition, with much less mileage than I originally agreed to. Do they give me money back?
I didn't think so.
If a dealer tried to pull that crap about charging me for a little ding/scratch here or there, they can get pumped.
I didn't think so.
If a dealer tried to pull that crap about charging me for a little ding/scratch here or there, they can get pumped.
Lexus Test Driver
Joined: Oct 2014
Posts: 1,266
Likes: 48
From: NY / LI
I agree.. But some dealers / leasing companies do try to pull this crap on some people and sadly get away with it. Especially if you're not buying another of the same brand. If you're staying with the brand it's never a problem.
Lexus Champion
Joined: Feb 2013
Posts: 2,954
Likes: 235
From: SoCal
If your car has much less miles than agreed, you can try selling it to CarMax if the price they offer is more than your residual. Dealers sometimes give you money back; my uncle returns his leased BMWs with much less miles than agreed (like 10-15K miles less) and the dealer actually gives him money back.
Lead Lap
Joined: Sep 2008
Posts: 3,705
Likes: 234
From: #BBNine
But yeah, to answer the OP, the prices listed on the commercials are for the base model. If you pause the commercial and read the tiny print at the bottom, most of the time they list the MSRP that it applies to.
Rookie
Joined: Oct 2015
Posts: 63
Likes: 6
From: NYC
I leased a GS from lexus financial and had a great experience. At the end of the lease, lexus financial sent a 3rd party inspection company, to check on the car for tear and wear. The inspector said the car was like brand new lol and didn't charge me for a dime. However, i paid $350 + tax end of lease fee. I tried to get it waive since I was waiting for the 16 rx. but they said they can only waive it if i get another lexus within 30days after returning the car. It was a 27months lease with 27k miles, when i negotiated the deal i made the dealer included the 20k oil change. 10k oil change was free. Returned the car just under 25k miles and avoided the 25k service. So i didn't pay anything for the maintenance
Lexus Champion
Joined: Nov 2013
Posts: 13,243
Likes: 1,874
From: WA
You can if the value of the vehicle is more than the lease buyout. I was able to do it with my Tacoma lease. I was well under the miles allotment and the truck was in excellent condition, which helped raise the value. The blue book value of the Tacoma was about $23k, but my lease buyout was $18k. The dealer gave me that $5k by treating it like a trade (rather than a lease return), which you are free to do.
Last edited by JDR76; Dec 17, 2015 at 11:49 AM.
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